Here are some great pocket listings to consider before they go to market.
Westwood--3 bedroom, 3 bath. North of Wilshire.
Beverly Hills Post Office--$2.45M. 4 bedrooms, 4 baths w/ city and canyon views. 4,300sf.
Beverly Hills (flats)-- $8.9MM. 6 bedrooms, 7.5 baths. 8,500sf on 1700sf lot. 1920s style home was completely remodeled in 2007 with separate Guest House, pool, cabana, theater room and wine cellar.
Atwater Village--$799K. Spanish Triplex.
For more info about these listings, please email me at marcelanderson@kw.com or call me at 310.482.2414.
Friday, July 13, 2012
Wednesday, July 11, 2012
US Home Sales Up 20% from Last Year!
It should come as no surprise that the number of home sales have increased substantially and that home prices are INCREASING as well!
Given that 30-year fixed rate mortgages are currently 4% or below, it is not surprising that many buyers are trying to take advantage of this moment. The Sellers who are on the market are not complaining about the multiple bids they are receiving for their properties.
Housingwire sent out a newsflash article today.
Friday, July 6, 2012
This Week's Pocket Listings
Beverly Hills: North Alpine Drive--7 bedroom + 10 bathrooms. 10,500sf on 21,000 sq ft lot. Exclusive showings and price upon request.
Bel-Air: $3.2MM. Contemporary, gated.
Bel-Air: $13MM. Contemporary, gated estate.
Studio City: 4 bedrooms, 2 bath. Price and details upon request.
Toluca Lake: $569K. 2 bedrooms, 2 bath. Home is gated and includes tropical koi pond with water fountain and a beautiful pool, an updated kitchen with granite, and a gorgeous master suite. Large family room with wood burning fireplace. Burbank public schools.
West Hollywood: $540K. 2 bedroom, 2 bath. 1200sf. HOA currently under $400/month.
If any of the above interest you, call me at 310.482.2414 or email me at marcelanderson@kw.com
Bel-Air: $3.2MM. Contemporary, gated.
Bel-Air: $13MM. Contemporary, gated estate.
Studio City: 4 bedrooms, 2 bath. Price and details upon request.
Toluca Lake: $569K. 2 bedrooms, 2 bath. Home is gated and includes tropical koi pond with water fountain and a beautiful pool, an updated kitchen with granite, and a gorgeous master suite. Large family room with wood burning fireplace. Burbank public schools.
West Hollywood: $540K. 2 bedroom, 2 bath. 1200sf. HOA currently under $400/month.
If any of the above interest you, call me at 310.482.2414 or email me at marcelanderson@kw.com
The Lowest Mortgage Interest Rates in 100 Years!
I attended a conference last Wednesday that reminded me just how low interest rates are.
Interest rates are the lowest that they have ever been in 100 years.
In today's market, you can get a 30-year fixed jumbo loan from lenders like Citibank with an interest rate around 3%-4%. That's on par with the low interest rates for adjustable rate mortgages (ARMs) during the subprime bubble when lenders relaxed their underwriting standards (to say the least). Today, lenders actually are underwriting the loans and requiring higher down payments (i.e. 20% unless you use an FHA loan program with a 3.5% down payment or a VA loan program). What surprises many of my peers is that during the 1980s, it was not uncommon for people with good credit to put 20% down and have an interest rate of 20% on their 30-year loan.
I know that a picture is worth one thousand words. Check out this chart that shows how mortgage interest rates have changed over the past 100 years. It's fascinating when we contextualize what is happening today
For more information about how interest rates how fluctuated since 1910 and an interesting discussion about how real estate functions as an inflation-resistant asset, please see the link below:
http://www.dailywealth.com/1615/The-Best-Time-in-History-to-Buy-a-House
The moral of the story is: "Interest rates will eventually go up. Inflation is coming. So get ready for it by taking advantage of this particular moment in history."
Interest rates are the lowest that they have ever been in 100 years.
In today's market, you can get a 30-year fixed jumbo loan from lenders like Citibank with an interest rate around 3%-4%. That's on par with the low interest rates for adjustable rate mortgages (ARMs) during the subprime bubble when lenders relaxed their underwriting standards (to say the least). Today, lenders actually are underwriting the loans and requiring higher down payments (i.e. 20% unless you use an FHA loan program with a 3.5% down payment or a VA loan program). What surprises many of my peers is that during the 1980s, it was not uncommon for people with good credit to put 20% down and have an interest rate of 20% on their 30-year loan.
I know that a picture is worth one thousand words. Check out this chart that shows how mortgage interest rates have changed over the past 100 years. It's fascinating when we contextualize what is happening today
For more information about how interest rates how fluctuated since 1910 and an interesting discussion about how real estate functions as an inflation-resistant asset, please see the link below:
http://www.dailywealth.com/1615/The-Best-Time-in-History-to-Buy-a-House
The moral of the story is: "Interest rates will eventually go up. Inflation is coming. So get ready for it by taking advantage of this particular moment in history."
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