Rancho Cucamonga, CA Real Estate News

This Week In The Housing Market...by: Chris Smith  Hello Everyone!Los Angeles, CA 08/07/07-  In this weeks edition of "This Week In The Housing Market" I am covering some pricing issues that I have run into with my sellers and addressing the concerns that they have.  Additionally, I am going to give an economic forecast on what we are currently experiencing throughout the nation on the housing crunch and also the situation with the Federal Benchmark Interest Rate.    FED Keeps The Interest Rate at Rate at 5.25%...  The Federal Reserve, keeping interest rates unchanged, said inflation is the the biggest danger to the economy and that the six-year economic expansion wont be undone by "tighter" credit conditions. "Although the downside risks to growth have increased somewhat, the committee...
Comments 0
By Mike Berrios, CMPS, CMA, CLA
(Integrity Home Finance)
  Yesterday was the single worst day for mortgage rates in more than four years.    Because so few homeowners understand how mortgage rates are determined, a day like yesterday may have little context.  So, let's try to put it in perspective.  If somebody told you that the stock market crashed, you'd understand.  A stock market crash happens when many more investors are selling stocks than those that are buying.  Supply and Demand causes prices to plummet.This is what happened to bonds yesterday -- the market had a "crash" because global investors fled the U.S. markets in search of better returns elsewhere.  In other words, lots of sellers and very few buyers.Because mortgage rates are based on the prices of mortgage bonds and because Supply and Demand dropped the prices of mortgage bon...
Comments 1
By Joan Patterson, Inland Empire Real Estate
(Keller Williams Realty, Luxury Home Specialist)
Why oh why do agents over promise sellers that they can get more for a home?  This last week I went on 2 listing appointments and had to let the listing go due to another agent over promising what a seller could get for these homes!  It is very frustrating when this happens.  Our market in Southern California is so over satuated with overpriced listings that it is not even funny.  I told both of these sellers that they would have to reduce the price of these homes because they were not being realistic.  I actually walked away from these listings, yes it is true.  It does no good to take an over priced listing if the seller is not being realistic.  Why?  Because all the time and marketing spent is for not!  Especially when a seller is thinking they will get this amount for the property. ...
Comments 0