Friday, May 5, 2017

Real estate news you can use

Interest rates were raised last month, but despite that increase, mortgage rates have been on the decline. Mortgage rates tend to align more with the 10 year Treasury note, which is very popular with investors and because of this increased demand, the rate has gone down. The pundits are speculating that the main reasons for this seems to be global uncertainty and indications that the White House may not be able to tackle tax reform this year.
Local inventories, overall, are down from last year's levels despite the uptick we saw last month. Home prices are mixed as some areas continue to show strength but others have slowed and in some cases are posting declines.
Overall still a seller's market, however buyers are showing signs that they are doing more homework on price, location, condition etc. and won't pay asking price or above unless they can see the value.

Here are some local number's; home prices for December 2016-February 2017 vs. same period last year:

Glendale+    6.7%
Burbank     +    2.2%
Toluca Lake-     6.1%
Pasadena+  27.5%
Studio City+    1.0%
Hollywood Hills+  20.4%
Valley Village-     2.0%
Sherman Oaks    -     1.5%

Please call me if you would like home selling strategies that net top dollar!
Ana Connell 818-795-8474.

Weekly mortgage rates:

30 yr. fixed rate        4.08       0.02
15 yr. fixed rate         3.34      0.02
5 yr. adjustable rate  3.18      0.01  
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