Posts by pwsadmin

Where’s the Real Estate Market Headed? We all know that inflation isn’t tamed overnight. It takes time for the tools the Federal Reserve Board (FRB) has to take effect. Since I’m in the real estate business, I see the effects of the changing rates on a weekly basis (if not daily). One key indicator is…

Is the Housing Market Cooling off??? Here’s a good handful of indicators that the housing market is cooling off. This being said, we’re closer to the real estate market we were at in 2019, before COVID. We’ll Keep an eye on the housing inventory and the mortgages rates. These are key indicators on which way the…

What’s the difference between a Mortgage Banker and Mortgage Broker? This is an Important question and here’s why: A mortgage banker works for a single lending institution… like a bank, credit union or mortgage company… that services, sells or originates residential mortgage loans offered by that particular lender. A mortgage broker is an agent who… working…

WHOA!!! Stop with the Rate Hikes Please!! This is what the increase in interest rates means to the average home buyer. In October of 2021, the mortgage rates were about 3%. Today, they are about 5.25%. On a $500,000.00 home, the difference in the monthly mortgage payment is…at 3% = $3,099.11 and at 5% = $3,740.28.…

The SCOOP on Interest Rates: Recently, a client asked me why interest rates for Re-finances are LOWER than Purchases?Here are a few of the reasons:Mortgage bankers/lenders lend … on Risk! The less risky a potential mortgagor is, the better the lender/mortgagee likes it. Usually, when there is a refinance (re-fi), there is some payment history.…

The Fed says as many as 6 rate hikes this year: The Federal Reserve Chairman (Fed Chair) J. Powell, announced earlier in March that he was launching a ‘high-risk’ effort to tame the worst inflation since the 1980’s. Backing his word, he raised the key rate by a quarter of a point. The first rate…

Median Home Prices for SFV, SCV and AV: Top O’the Month to you all and Happy St. Patty’s Day (March 17th). Now that the numbers are in for 2021, I’d like to share with you where the median home prices are in the San Fernando Valley (SFV), Santa Clarita Valley (SCV) and the Antelope Valley…

How Rising Interest Rates will affect the Spring Housing Market. Well, there are a couple of things we have to look at before we dive into the future… 1). Over the past 2 years there has been an increase in residential home prices of approximately 40% (yes, that is a crazy number!). I calculated this…

If you know of someone wanting to get their real estate license, The Hier Advantage Real estate Sales and Service now has their very own Real Estate School… www.avreschool.com Our motto, Pass the Test, We’ll Teach You The Rest! The BIGGEST news for the upcoming year is … mortgage rates are on the rise (currently…

Closing Out The Year: Yes, it has been another wild ride. While we were still dealing with the Pandemic (mask wearing, hand sanitizing, vaccines and the like) we were pretty much able to move freely about. The latest numbers from Corelogic Home Price Index suggests that there was an increase in home prices of 18%.…