Today...was my first day at Empire Real Estate. Just a little about Empire. Empire is a local real estate brokerage founded in 2002 by 23 agents here in Danville and has since grown to nearly 100 associates who work from two beautiful offices, one in Danville, that's where I'm residing and one in downtown Walnut Creek. Empire is also a founding member of the Artisan Group comprised of the top local brokerages from Napa to Tahoe to the Bay Area. I'm super excited at this new opportunity and looking forward to establishing myself in the Beautiful East Bay area.
OK, enough about my new gig. Let's talk rates. I didn't think mortgages would be as cheap as they were last spring ever again. Boy I was wrong. The 4% mortgages that had everyone so excited last April and May are back in a big way. The average rate for a 30-year, fixed-rate loan, (the most popular way to finance a home) slipped to 5.25% in our latest weekly survey of major lenders taken Sept. 30. That is the lowest it's been since April, when the average rate plunged to 5.13%. Call me and I will refer you to a lender that is offering 30-year, fixed-rate loans for as little as 4.75%, with no points and fees of $1,500 or less. That means your principal and interest payments will be just $522 a month for every $100,000 you borrow.
Pay a point or two, and you'll be able to cut that to 4.375% and lower your payments to $500 a month for every $100,000 you borrow. And these traditional, fixed-rate mortgages are as safe and straight-forward as they come. You don't have to risk your financial future on an interest-only mortgage or adjustable-rate mortgage to get these record-low rates and payments. Nor will you have to worry about interest rates going up, principal payments kicking in or any other nasty surprises a few years down the road.
By any historical standard, anytime you can get a 30-year, fixed-rate loan for less than 6.5%, you've gotten a good deal. Right now, you can get a great deal. While I think mortgage rates will remain very affordable throughout the fall, there's good reason to believe they'll start rising this winter, what goes down eventually must go up...rate wise that is!
Over the next few weeks, the Federal Reserve will begin phasing out its campaign to flood the mortgage market with money and drive interest rates down to help the struggling housing markets and economy. To do that, it has been purchasing about $1.25 trillion worth of home loans made by commercial banks and finance companies at rates lower than private investors would usually expect. But as the Fed buys fewer and fewer mortgages between now and the end of March, private investors will have to pick up the slack. They'll demand better returns, which should push interest rates back up to more normal levels. So if you were putting off buying or refinancing a home, now's the time to act.
You've probably heard that banks and mortgage companies have tightened their requirements for getting a mortgage after unwisely lowering their standards during the housing boom. They have. But that return to reasonable underwriting standards is a good thing and shouldn't stop the great majority of borrowers from getting the loans they want.
You'll have the best chance of getting a low rate with low fees if you: Have an average credit score. That's a FICO score of 720 to 730. If you have below-average credit, you should probably pursue an FHA or VA loan. Borrowers with lower credit scores can increase the odds of having their application approved by getting the government to guarantee the loan's repayment. Also, be able to fully document your income, assets and debts.
No one can predict where rates are going to go in the future, but it seems this is the time to take advantage of rates that are good for not only buyers, but home owners wishing to refinance their existing home loan as well. More to come...
Monday, October 5, 2009
Saturday, October 3, 2009
A New Gig in Danville!!!
Hello Everyone,
For those of you that don't know, recently the Schaeffer's including our dog Oliver have moved from Willow Glen and relocated to Danville in the East Bay. I also wanted to share the good news about my new gig in Danville. As of Monday, I'll be selling Real Estate in Danville for Empire Reality. Here's the link to their site: http://www.empirerealty.com/ I'm very excited at this new opportunity and I know some of you may be wondering...what about Cynthia??? Well, we've decided that Cynthia will stay with Intero in Los Gatos. We are super excited at this new opportunity to expand our business into the East Bay, while still serving the needs of our family members, friends and our great clients in the South Bay. Also, my number has changed to 925-360-8203. Looking forward to hearing from all of you!!! More to come...
For those of you that don't know, recently the Schaeffer's including our dog Oliver have moved from Willow Glen and relocated to Danville in the East Bay. I also wanted to share the good news about my new gig in Danville. As of Monday, I'll be selling Real Estate in Danville for Empire Reality. Here's the link to their site: http://www.empirerealty.com/ I'm very excited at this new opportunity and I know some of you may be wondering...what about Cynthia??? Well, we've decided that Cynthia will stay with Intero in Los Gatos. We are super excited at this new opportunity to expand our business into the East Bay, while still serving the needs of our family members, friends and our great clients in the South Bay. Also, my number has changed to 925-360-8203. Looking forward to hearing from all of you!!! More to come...
Monday, September 28, 2009
30-Year Rates Hold...Great News!
OK Gang....Rates for 30-year home loans went unchanged last week and remain close to record-low levels. What does this mean, great time to buy. The average rate for a 30-year, fixed-rate mortgage was 5.04 percent, the same as a week earlier. Rates, while above the record low of 4.78 percent hit in the spring, are still generally attractive for people looking to buy a home or refinance.
The average rate on a 15-year, fixed-rate mortgage fell to 4.46 percent from 4.47 percent, according to Freddie Mac. That was the lowest level on records dating to 1991. Rates on five-year, adjustable-rate mortgages averaged 4.51 percent, unchanged from a week earlier.
Rates on one-year, adjustable-rate mortgages fell to 4.52 percent from 4.58 percent. With the economy on the mend, the Federal Reserve decided Wednesday to stretch out the pace of a program that has lowered mortgage rates and propped up the housing market this year.
The big news...The central bank now plans to reach its goal of buying $1.45 trillion in mortgage-backed securities and debt by the end of March, rather than by the end of this year, which is a little surprising, and analysts said mortgage rates should remain low for now but could eventually head higher....of course!
While not knowing if we are close to seeing a bottom in this "Topsy Turvy" real estate market, what I do know is this, there are some great properties to be gobbled up at low interest rates and prices we haven't seen in many many years. More to come...
The average rate on a 15-year, fixed-rate mortgage fell to 4.46 percent from 4.47 percent, according to Freddie Mac. That was the lowest level on records dating to 1991. Rates on five-year, adjustable-rate mortgages averaged 4.51 percent, unchanged from a week earlier.
Rates on one-year, adjustable-rate mortgages fell to 4.52 percent from 4.58 percent. With the economy on the mend, the Federal Reserve decided Wednesday to stretch out the pace of a program that has lowered mortgage rates and propped up the housing market this year.
The big news...The central bank now plans to reach its goal of buying $1.45 trillion in mortgage-backed securities and debt by the end of March, rather than by the end of this year, which is a little surprising, and analysts said mortgage rates should remain low for now but could eventually head higher....of course!
While not knowing if we are close to seeing a bottom in this "Topsy Turvy" real estate market, what I do know is this, there are some great properties to be gobbled up at low interest rates and prices we haven't seen in many many years. More to come...
Ok...As Promised My First Recipe!!!
Zuppa Arcidossana (Soup Arcidossana)...Dah!!!
This is a wonderful soup that is great on a cold night...if we ever get one!! Try it you'll love it.
2 tablespoons olive oil
1/4 pound sweet Italian sausage, removed from casings
1 cup 1/2-inch-diced carrots
1 large onion, chopped
3 or 4 cloves garlic, chopped
Salt and black pepper
1 cup stale bread (use coarse, country-style bread), cut in 1/2-inch cubes
1/2 pound spinach, trimmed, washed and roughly chopped
1/4 to 1/2 cup ricotta salata, cut in 1/2-inch cubes (feta may be substituted)
1/4 cup freshly chopped parsley, optional.
1. Put oil in a large pot or deep skillet and brown sausage over medium-low heat, stirring occasionally. When sausage is cooked through and leaving brown bits in pan, add carrots, onion and garlic, and continue to cook until vegetables begin to soften and brown, about 10 minutes. Sprinkle with salt and pepper.
2. Add bread to pan and stir for a minute or 2; add spinach and continue cooking just until it wilts, a couple of minutes.
3. Add about 2 cups water and stir to loosen any remaining brown bits from pan. This is more of a stew than a soup, but there should be some broth, so add another cup of water if necessary. When broth is consistency of thin gravy, ladle stew into serving bowls and top with cheese and some freshly chopped parsley if you have it. Serve immediately.
Yield: 4 servings.
This is a wonderful soup that is great on a cold night...if we ever get one!! Try it you'll love it.
2 tablespoons olive oil
1/4 pound sweet Italian sausage, removed from casings
1 cup 1/2-inch-diced carrots
1 large onion, chopped
3 or 4 cloves garlic, chopped
Salt and black pepper
1 cup stale bread (use coarse, country-style bread), cut in 1/2-inch cubes
1/2 pound spinach, trimmed, washed and roughly chopped
1/4 to 1/2 cup ricotta salata, cut in 1/2-inch cubes (feta may be substituted)
1/4 cup freshly chopped parsley, optional.
1. Put oil in a large pot or deep skillet and brown sausage over medium-low heat, stirring occasionally. When sausage is cooked through and leaving brown bits in pan, add carrots, onion and garlic, and continue to cook until vegetables begin to soften and brown, about 10 minutes. Sprinkle with salt and pepper.
2. Add bread to pan and stir for a minute or 2; add spinach and continue cooking just until it wilts, a couple of minutes.
3. Add about 2 cups water and stir to loosen any remaining brown bits from pan. This is more of a stew than a soup, but there should be some broth, so add another cup of water if necessary. When broth is consistency of thin gravy, ladle stew into serving bowls and top with cheese and some freshly chopped parsley if you have it. Serve immediately.
Yield: 4 servings.
Fung Shui Your Home and Create New Career Opportunities
I wanted to talk a little about Fung Shui and your home entry way. By following a few simple Fung Shui steps I can show you how to create some positive energy towards some new and exciting career opportunities. I know I can hear it already, "How can adding a few items to my entry way create these "new" opportunities." Well it does work and all you need is an open mind and a few tips from me!
Ok, first thing is your front door. Decorating your front door will invite energy into your home and your life. Let's also start with the right colors. Career colors are black and blue, so place a clean black mat in front of your door, which in turn invites fresh energy which enhances your career. Also, avoid any Brown colors which might "muddy" the waters energy. Rounded edges in entry way tables will welcome positive energy to your home and guests.
So now when opportunity knocks you can greet it with a warm welcome. More to come...
Ok, first thing is your front door. Decorating your front door will invite energy into your home and your life. Let's also start with the right colors. Career colors are black and blue, so place a clean black mat in front of your door, which in turn invites fresh energy which enhances your career. Also, avoid any Brown colors which might "muddy" the waters energy. Rounded edges in entry way tables will welcome positive energy to your home and guests.
So now when opportunity knocks you can greet it with a warm welcome. More to come...
My First Comment...
Well, I thought it was time to start blogging. I see so many of my colleagues in my profession blogging about things that seem to me, well boring!!! I'm going to try and add a little wit and humor to my blog that will make reading it interesting and fun!! Welcome to my Blog. More to come...
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