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Interesting Statistics Category

property taxes – avoiding reassessment

Kathleen Finnegan This is a question that my clients bring up a lot. How to transfer property taxes and/or avoid reassessment. This post should help to shed a little light on, what tends to be, a confusing matter. Prior to the passage of Proposition 13, the county assessor in each county would reassess the value of property every four years or so. During times of high appreciation, property taxes often quadrupled, leaving those on a fixed income unable to afford the taxes, and being... Continue Reading >

home owners stand to recapture more equity in 2014

The number of underwater homes continues to slip, with 791,000 properties regaining equity during the third quarter. Currently, about 13 percent of all homes with a mortgage -- or 6.4 million -- remain in negative equity compared to 14.7 percent -- or 7.2 million -- at the end of the second quarter. An estimated 42.6 million homes in the U.S. have positive equity. About 20 percent-- or 10 million -- of those homes, however, have less than 20 percent of equity or... Continue Reading >

home buyers making a move this winter

Kathleen Finnegan Home buyers who weren’t successful this summer at finding a home due to limited inventories and competition from all-cash offers are looking to retry their luck in the winter, according to realtor.com’s Winter Home Buyer Report. This summer and spring, home-buying season was particularly challenging for some buyers, especially first-time home buyers trying to compete with all-cash offers and bidding wars because of reduced inventory.  A quarter of the winter home buyers revealed they are in the market now because they were... Continue Reading >

5 lenders boasting highest customer satisfaction

Customer satisfaction with mortgage lenders reached a seven-year high this year, according to J.D. Power's 2013 U.S. Primary Mortgage Origination Satisfaction Study. The study measures customer satisfaction in four key areas: application/approval process, loan representative, closing, and contact. “As refinancing volumes are on the decline, consumers contemplating purchasing a home are likely to have multiple lenders competing for their business,” says Craig Martin, director of financial services practices at J.D. Power. “This can be particularly beneficial for those who are first-time... Continue Reading >

where are mortgage rates heading?

Mortgage rates will likely rise above 5 percent in 2014 and average 5.3 percent by the end of 2015, according to the Mortgage Bankers Association’s forecast. That would mark a big jump over where mortgage rates stand now. The MBA reported this week that the 30-year fixed-rate mortgage averaged 4.33 percent, the lowest average since June. The MBA expects that the Federal Reserve will decide to taper its $85-billion per month bond-purchasing program in early 2014 and end it altogether in September... Continue Reading >

mortgage rates roll back to July levels

Kathleen Finnegan Mortgage rates continue to fall, following the Federal Reserve’s decision to delay tapering its bond purchase program. The Federal Reserve announced last week that it would delay winding down its $85 billion per month bond purchasing program, which has helped to keep mortgage rates near record lows in recent years “These low rates should somewhat offset the house price gains seen the last number of months and keep housing affordability elevated,” says Frank Nothaft, Freddie Mac’s chief economist. The average rate on... Continue Reading >

Is now a good time for a mortgage?

Before you apply for a home loan, evaluate your personal finances. How much you earn versus how much you owe will likely determine how much a lender will let you borrow. Add Up Your Income First, determine your gross monthly income. This includes any regular and recurring income that you can document. If you can’t document the income, or if it doesn’t show up on your tax return, then you can’t list it to qualify for a loan. However, you can use... Continue Reading >

the big picture

Kathleen Finnegan Home prices were up sharply in June but the pace may be slowing, a widely watched housing index reported Tuesday. June home prices were up 12.1% from a year earlier and all 20 cities in the index posted gains on a monthly basis, shows the S&P Case-Shiller 20-city index. But only six cities saw prices rising faster in June compared to 10 in May. With interest rates rising to almost 4.6%, "home buyers may be discouraged and sharp increases may be dampened," says... Continue Reading >

moving forward

Kathleen Finnegan    San Fernando Valley home prices surged again in June amid plunging foreclosure activity and tight inventory, according to two reports released Monday. Last month, the median home price in the Valley increased 29.3 percent, to $505,000 from $390,500 a year ago, said the San Fernando Valley Economic Research Center at California State University, Northridge. It was the 12th consecutive month of year-over-year price increases. Just since May, the median is up 1.2 percent from $499,000, and June was the first time the... Continue Reading >

2013 california housing market

Kathleen Finnegan If the experts are correct, California´s housing market will stay the course in 2014, with sales and prices continuing to increase slowly and steadily as they have for two years. Interest rates remain at historic lows and home prices are still relatively affordable. However, while it’s an excellent time to buy, it’s not a simple time to do so, as banks aren’t making credit easily available, and many of those who purchased their homes at inflated prices several years ago aren’t... Continue Reading >

Kathleen Finnegan

23925 Park Sorrento
Calabasas, Ca 91302

Office 818-876-3111
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