Archive for March, 2014

ORINDA GROVE ~ New Home Sites To Be Released This Weekend

March 24, 2014

ORINDA GROVE ~ New Home Sites To Be Released This Weekend

Including a Villa One

On Saturday, March 29th
10:00am-10:30am

Southern California is a Real Estate Seller’s Market this Spring

March 24, 2014

San Pedro one of our local cities made it into this LA Times Article for Top Buyers Markets…

By Tim Logan | LA TIMES

As the busy spring real estate season gets into gear, sellers appear to have the upper hand across much of Southern California.

Open house in Venice

That’s the word from Zillow, the real estate data website that tracks housing markets nationwide. It released a report on the top 10 buyer’s and seller’s markets in the U.S. Wednesday morning, and Los Angeles made the list as the fourth-strongest market for sellers right now. Riverside ranked sixth.

A strong seller’s market, says Zillow, doesn’t necessarily mean its prices are soaring — and indeed median prices have been flat here in recent months — but rather quick sales, few price cuts, and homes selling at or above asking price. In buyer’s markets, sales are taking longer and price cuts are more common.

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Bay Area Rain On The Way, But California’s Reservoirs Still Low

March 24, 2014

CBS San Francisco

SACRAMENTO (KCBS)— There’s rain on the way in the Bay Area’s forecast, but experts say it won’t be enough to end California’s historic drought. The latest measurements show that the state’s reservoirs remain at alarmingly low levels.

Doug Carlson with the State Department of Water Resources said it’s a case of too little, too late, even if this last gasp of wet weather is expected to shower the area on and off for the next week or so.

“All of California’s major reservoirs are still far below their historic average and even further below their capacities. For instance, Lake Shasta, which is the state’s largest reservoir, is at 46 percent of capacity today and 58 percent of the historic average,” Carlson said.

[cbs-audio url=”http://www.podtrac.com/pts/redirect.mp3/nyc.podcast.play.it/media/d0/d0/d1/d4/dY/d2/d3/14Y23_4.MP3″ size=”” download=”” name=”Bay Area Rain On The Way, But California’s Reservoirs Still Low” artist=”KCBS’ Doug Sovern Reports”]

The data is grim across the board. Folsom Lake…

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not always early, but ALWAYS on time….MORTGAGE TIME!

March 10, 2014
MORTGAGE TIME
Mortgage Market News for the week of March 7, 2014
Compliments of:
Patrick Gardner
Mortgage Loan Officer
NMLS ID: 378888
415-423-1424
Email me
Visit my website

 


JOBS DATA AND UKRAINE
It was a volatile week in mortgage markets. Early in the week, rapidly changing conditions in Ukraine caused a great deal of movement in mortgage rates, but there was little net impact. Later in the week, stronger than expected labor market data was negative for mortgage rates, and rates ended the week higher.

Against a consensus forecast of 140K, the economy added 175K jobs in February, and the figures for the prior two months were revised a little higher. This took place, according to the Bureau of Labor Statistics, despite the largest weather related disruption since 1996. The Unemployment Rate unexpectedly rose from 6.6% to 6.7%, but this was due to an increase in the number of people that entered the labor force. The solid jobs report exceeded expectations nearly across the board. Since stronger economic growth raises future inflationary pressures, this was unfavorable news for mortgage rates.

After Russia moved troops into Ukraine, the threat of an escalating conflict caused a “flight to safety” in financial markets on Monday. This involved a shift by investors to relatively safer assets, resulting in a large decline in stocks and significant improvement in bonds, including mortgage-backed securities (MBS). A complete reversal took place on Tuesday, however, after the Russian President said that Russia would not use military force in Ukraine.

ALSO NOTABLE
ISM Services declined to the lowest level since February 2010
The Treasury will auction $64 billion in securities next week
The European Central Bank (ECB) made no change in rates
Chinese manufacturing data fell to the lowest level in 8 months

WEEK AHEAD
The most significant economic report next week will be the Retail Sales data on Thursday. Retail Sales account for about 70% of economic activity. Before that, the JOLTS report, measuring job openings and labor turnover, will come out on Tuesday. The Producer Price Index (PPI) focuses on the increase in prices of “intermediate” goods used by companies to produce finished products and will come out on Friday. Import Prices and Consumer Sentiment will round out the schedule. In addition, there will be Treasury auctions on Tuesday, Wednesday, and Thursday. Changes in the situation in Ukraine also could have an impact on mortgage rates.

http://www.pageturnpro.com/Alameda-Magazine/40973-Oakland-Magazine-JulyAugust-2012/index.html#22

March 5, 2014

http://www.pageturnpro.com/Alameda-Magazine/40973-Oakland-Magazine-JulyAugust-2012/index.html#22