Record Low Inventory + Investor’s Cash
= Bad News For Home Seekers

Reynolds Realty Group News, Uncategorized No Comments

Beware!A recent front page article in the Los Angeles Times highlights the difficulty home seekers are having finding a home, especially when competing with large institutional investors with war chests of cash.

Click here to read the full article (17 Feb 2013 Los Angeles Times By Alejandro Lazo)

30-Year Rates Stay Below 4%, Affordability High

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Mortgage rates are staying low by historical standards, despite inching slightly higher this week following a positive job report and increasing bond yields, Freddie Mac reports in its weekly mortgage market survey.

“An upbeat employment report for February caused U.S. Treasury bond yields to increase over the week, and mortgage rates followed,” says Frank Nothaft, Freddie Mac’s chief economist. “Job growth over the last six months was the strongest since 2006.”

For 15 consecutive weeks, 30-year rates, the most popular choice among home buyers, have averaged below 4 percent.

The following is a closer look at rates for the week ending March 15:

30-year fixed-rate mortgages: averaged 3.92 percent, with an average 0.8 point, inching up from last week’s 3.88 percent average (which was only 0.01 percent above an all-time record low). A year ago at this time, 30-year rates averaged 4.76 percent.

15-year fixed-rate mortgages: averaged 3.16 percent, with an average 0.8 point, climbing from last week’s record reaching 3.13 percent average. Last year at this time, 15-year rates averaged 3.97 percent.

5-year adjustable-rate mortgages: averaged 2.83 percent, with an average 0.8 point, also slightly up from last week’s 2.81 percent average. Last year, 5-year ARMs averaged 3.57 percent at this time of year.

1-year ARMs: averaged 2.79 percent, with an average 0.6 point, rising from last week’s 2.73 percent average. Last year, 1-year ARMs averaged 3.17 percent.

Source: Freddie Mac

via 30-Year Rates Stay Below 4%, Affordability High | Realtor Magazine.

Our Facebook Page Goes Platinum

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If you aren’t already a fan of The Reynolds Realty Group’s FaceBook fan page, you probably wouldn’t notice anything different, but we’ve gone platinum!

We now have a simple FaceBook address: http://www.facebook.com/TheReynoldsRealtyGroup (notice there’s no numbers after our FaceBook URL!?!).

And we have created new landing page for new fans, and the first of our new “tabs” for our loyal fans. This new “tab” is found in the left sidebar, and is titled Real Estate Links and Info (click here to see it). On it you’ll find quick links to find out about us, our contact information, check the latest TRRG news, check your property value, search for properties, and find a link to get local area news, event information, winery information and maps, and MORE!!!!

Thanks to all of our friends/fans for your support, and welcome to all of our new fans. Check our our posts and links for everything you might need to find out more about how we can help you with your real estate needs.

C.A.R. releases its California Housing Market Forecast for 2012

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Search for properties in Temecula, Murrieta, Bear Creek, WildomarThe CALIFORNIA ASSOCIATION OF REALTORS® has released their 2012 Housing Market forecast, saying that California home sales and median price are predicted to improve only slightly in 2012… Read the rest of this entry »