Prices went up 6.4% in the City of Los Angeles (according to Zillow). This is pretty much the same for all Southern California metro areas. Are home prices finally peaking? It’s hard to say. Zillow still predicts another 5.8% increase in the next year. With rising rates, and reported falling home sales, this prediction might be a bit optimistic. Still, … Read More

These improvements that almost pay for themselves in resale value: New paint in neutral tones (gray, beige, or a mix of the two) can add actually add thousands to sale value. Hardwood floors, though more expensive than carpeting, look more elegant and are less likely to show dirt and wear. Again, a value booster. Replacement, energy-efficient, windows can save in … Read More

For both buyers and those seeking cash, mortgage rates are important. Mortgage rates have gone up and expected to continue to rise over the next year. As the economy improves, the Federal Reserve (Fed) raises short-term rates from their unusually low level to get back to a “normal” rate of interest. The Fed just raised those rates a quarter percent … Read More

A HERO is a Home Energy Renovation Opportunity loan, sometimes known as PACE (Property Assessed Clean Energy) loan. These loans give homeowners access to 100% financing for energy-efficient, renewable energy, and water-conserving home improvements. It is a fixed-rate loan paid through an extra charge on the property taxes. While the HERO loan makes it easy to finance things like solar … Read More

Hello, and Happy New Year. In this newsletter I’ve tried to give the best estimate for the housing and financial scene for 2018 and included some information on protecting your personal financial information. With the economy and employment strong, the national housing market is expected to have a good year. However, in higher-priced cities the increase in home prices is … Read More

A borrower asked me whether or not they should get credit life insurance to pay off their you get a mortgage in case of their death. Many lenders offer this for an added amount to your monthly mortgage payment. I don’t offer insurance of any kind, but have some thoughts on this. Here are the pros and cons. Pros: Credit … Read More

If you bought a home with less than 20% down payment, or refinanced with less than 20% equity, you probably have mortgage insurance. Fortunately you can get rid of it. When, and how to do it, is a bit more complicated. Here are the essentials on removing mortgage insurance: Conventional Loans: The lender is required to remove the mortgage insurance … Read More

The May statistics (the latest available) for LA County, shows a median sales price of $560,500 for a single-family residence. This is a 6.8% increase from May of 2016. The rate of sales in the LA Metro area is up about 7% from the prior year. This means the real estate purchase market is still healthy. Mortgage rates have bounced … Read More

Quicken Loans has launched a new product call the Rocket Mortgage, which has been heavily advertised on TV. Is this product faster and easier than those of other lenders? Generally, no. But, it’s great advertising. Quicken touts a system that can get your employment information and bank statements directly, without your having to provide pay stubs, W2s and bank statements … Read More