Happy Holidays!

The holidays are here and I will be out of the country with no Internet for two weeks. There will be no postings during my vacation, but I will be back to provide all of you with up-to-date real estate news the moment I return home. I wish you all happy holidays and celebrate with care. Always have a designated driver before you commence your celebrations.

Cheers, Samuel

Home Resales Were Up By 7.4% In November When Compared With October!

Although we are still waiting for more good news here in Los Angeles, optimism is in order for the real estate sector as a whole. Today the figures are in and sales of previously owned homes were up 7.4% in November when compared with October. Increases in real estate prices hinge on the number of real estate transactions. Traditionally more sales have equated to higher values, and that is starting to be the case in certain areas of the country. However, don't bring out the champagne just yet as this surge is being attributed to government tax credits of up to $8,000 for first-time buyers and up to $6,500 for repeat buyers.

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Home Resales Are Up By 30%

Home resales are up, just not in Los Angeles where sales have decreased by 1.5% of what they were a year ago. However, the median home price has seen little change... neither up or down.

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Mortgage Rates Are Up

The past two months have assisted the real estate market with low mortgage rates around 4.5%. This trend has been bolstered with forecasts that the first quarter of 2010 will yield rates under 4%. However, economic turbulence has led to a sharp increase in mortgage rates today bringing them up to almost 5%.

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Is The Worst Behind Us?

According to Bloomberg.com not only is the worst behind us, but the mortgage business (including mortgages insurers) will profit in 2011. Profitability in this sector is dependent on responsible mortgagees. Fewer homes are entering into foreclosure, and it appears that this trend will continue.

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Declining Mortgage Rates will Offer Great Opportunities for Buyers in 2010!

I have been very pleased with the recent downward trend on mortgage rates. However, according to BusinessWeek the best is yet to come. Inside sources have leaked information indicating that Bank of America's mortgage rates could be as low as 3.125% in February 2010!

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U.S. House Stands Up For Banks

In an effort to prevent bankruptcy judges from forcing banks to rewrite mortgages, the U.S. House has just rejected the "mortgage crackdown" measure.

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Fewer Price Reductions Among Active Listings

During the process of selling a home it sometimes becomes necessary to lower the listing price. This has become common play since the market took a turn for the worse. However, the trend is shifting. As the number of homes on the market is going down, so is the number of price reductions.

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Ever Thought of Buying Real Estate with an IRA Fund...?

People are finding some great new ways to finance their real estate purchase. Of most interest is using an IRA Fund to purchase real estate...

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Good News: TransUnion Forecasts Lower Credit-Card and Mortgage Delinquencies!

We have been hit with so many negative headlines over the past 18-months, but now there is a solid sign of hope. Delinquencies are expected to decline, which means that consumers are experiencing more stable financial conditions.

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Large Hedge Funds are Expecting Returns on Real Estate

Large pensions funds in California, New York and Ohio are shifting their asset allocations. Basically, they are beginning to invest large portions of their money into real estate. This indicates that they strongly believe the market is about to rebound, which would mean a high level of return for these investments.

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Loan Modifications Only Prolong Foreclosure

There has been a lot of talk about loan modifications; situations where banks change the amount of principal owed on home loans in an attempt to avoid foreclosures. However, this morning The Dallas Morning News has pointed out that this practice has really only prolonged the inevitable.

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Mortgage Rates Have Declined to a Record Low!

Although FHA Mortgages are becoming more expensive, mortgage rates have declined to a RECORD LOW! Check out this artcile to learn more about how this can assist you in taking advantage of the current real estate market.

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FHA Mortgages to Cost Borrowers More

Wondering what it will take to get financing, the Los Angeles Times outlines the new more costly requirements will for obtaining FHA mortgages.

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First-Time Home Buyer Tax Credit

The First Time Home Buyer Tax Credit has recently been extended. Now is a great time to purchase your first home. If you buy before April 30, 2010 you can receive a tax credit of up to $7,500!

>> Click here for the full story <<

Opening Door Number 3

This blog will function as part of my digital network of real estate information by providing you with current and relevant news. There has been a lot of confusion in California's real estate market, which has many people to have an aversion towards real estate agents. My goal is to differentiate myself from the typical stereotype that is propagated by the media and in shows like "Million Dollar Listing."

Apprehensive? I do not blame you, but it is time to move forward. Let me offer you an alternative to the traditional real estate agent by utilizing modern tools and innovative strategies. Follow Door Number 3 to stay informed on real estate market trends, interest rate updates and everything else that affects You.