Unfortunately 74% of college students don't know their credit score. Everybody as a minimum should be checking their credit report at least once a year, especially before a major purchase. Here is a graphical breakdown on credit scoring. If you are in the Los Angeles region, have any questions or real estate sales or financing needs, feel free in contacting: Ron Henderson GRI, RECS, CIAS President/Broker Multi Real Estate Services, Inc Gov’t Affairs Chair – California Association of Mortgage Professionals www.mres.com [email protected] Real Estate market, Mortgage rates, Los...Continue Reading!
As a follow up to the presentation “The Big Short, the Housing Bubble and Subsequent Mortgage Meltdown Explained", this presentation will cover the history of governmental policies, where new bubbles are being formed, and the future of the local housing market. Ron Henderson President / Broker of Multi Real Estate Services will be presenting this Friday February 5 at 8:15am at the OutWest Marketing Meeting Weiler’s West Hills Deli (Conference Room) 22323 Sherman Way, Canoga Park, CA. The presentation and the OutWest...Continue Reading!
The Aliso Canyon gas leak has turned into a major issue for the northern part of the San Fernando Valley. The Aliso Canyon field has been a natural gas storage field since the oil reservoir was depleted in 1972. There are 115 storage wells on the site and covers 3600 acres of land with 86 billion cubic feet of storage. The pipeline gas is compressed and stored in sandstone at a depth of 8500 feet. The gas leak was discovered October...Continue Reading!
The San Fernando Valley is a suburb of the northern region of Los Angeles. Geographically the SFV is surrounded by mountains and has a finite quantity of buildable land. The property values have had a history of appreciating substantially for several years, followed by a period of stabilization, or in two cases, eras of value depreciation. The 1950s through the 1981 had steady appreciation as the San Fernando Valley region had a strong economic base, good school system, and great weather. 1980...Continue Reading!
Even though the Federal Reserve increased the Fed Funds Rate by a 1/4% a month ago, the interest rates have dropped 3/8% over the past two weeks. The attached chart of the 10 year note shows how the rates have dropped and broke through numerous support levels. The international stock markets have dropped substantially over the past two weeks. As a result the money coming out of the stock market has been parked in bonds and mortgage backed securities. The United...Continue Reading!
The Southern California Gas Company gas line leak is not just making people that live in the region sick physically, but potentially sick financially. Until the gas leak is resolved and the state's Declaration of a Disaster Area is lifted, some lenders are putting moratoriums on accepting new real estate loan originations, and holding off on funding approved loans in the system. Selling a property in the affected areas of Porter Ranch, Chatsworth, and Granada Hills has become more difficult. Aside from...Continue Reading!
View the TourVery private studio configured 500 sq ft guest house w/10' ceilings. Perfect for single person. A nice neighborhood close to Warner Center. A good living environment. Separate entry in front. Full bathroom w/glass block, small walk-in closet, kitchenette w/full refrigerator (not a full kitchen or separate bedroom), laundry room, pool. No pets. No smoking. Cable, internet, pool maintenance and gardening included. Available February 1. $875 mo + ¼ utilities. Broker is the owner and lives on property. For showing...Continue Reading!
California median home price up year over year 6.8%, but down .2% month to month. The quantity of sales dropped 8.4% month over month, and dropped 1.6$. The inventory jumped 13.5% month over month. The seasonal change is typical, and the impact of El Nino on Northern California sales may skew the numbers. We already know price appreciation has leveled off. If you are in the Los Angeles region, have any questions or real estate sales or financing needs, feel free in...Continue Reading!
The yield curve, or difference between short term interest rates compared to long term rates have tightened. This is due to the long term interest rates (10yr/30yr notes) staying fairly stable over the past 6 months, but the short term rates (1yr/2yr notes) have gone up. The increase in short term rates started before the Federal Reserve increased their Fed Funds rate by 1/4% in December. The Fed rate increase has a direct effect on how the banks price their...Continue Reading!
The critically acclaimed book/movie “The Big Short” is entertaining and gives some detail on the events and issues surrounding Wall Street’s hand in the 2008 Financial Crisis. Hear a more detailed analysis on what transpired, and the role all the players, above and beyond Wall Street, had in creating the worst economic crisis since the 1930’s. What has changed, what hasn’t, and can there be another meltdown? Ron Henderson President / Broker of Multi Real Estate Services will be presenting this...Continue Reading!