"Palos Verdes Resident since 1947"

Newsletters Category

July, 2013, Newsletter

Dear Neighbor:  As I said in my March newsletter, “it’s just a matter of time (and not much time) before rates rise”.  Well, that time arrived last week as you probably heard on the news.  30-year fixed rates on loans over $730,000 have shot up to nearly 6% from around 4% a month ago.  Though it may look high, 6% is still low by historic standards (my parents loan on Pleasant Hill Drive was 6.25% in 1963), and it’s a pretty...Continue Reading!

May, 2013, Newsletter

Dear Neighbor:  Onward and upward!  Reasonably-priced homes continue to sell quickly, often with multiple offers.  Interest rates still have not moved upward, remaining at around 4%.  And lenders have begun making 95% loans again (5% down) – I think this is called amnesia.  One of the less-obvious issues we’re having these days is that of appraisals.  This is always a problem when the market is rising, as appraisers use closed sales (which, of course, are lower in a rising market) to determine...Continue Reading!

March 2013 Newsletter

Dear Neighbor:  The real estate market is still jumpin’, with interest rates remaining below 4% for all but the biggest loans or smallest down payments.  There is still very little for sale, and prices have certainly risen during the past 6 months or so.  The feeling on the street is that it’s just a matter of time (and not much time) before rates rise, so my theory (not exactly genius) is that everyone who has been thinking about buying and can,...Continue Reading!

January 2013 Newsletter

The following is the bi-monthly newsletter that went out to my mailing list January, 2013.  Here is a copy of the Contact Form referred to.  If you just want me to hand you a copy, let me know:                                                                                                                                                                                                    January, 2013   Dear Neighbor:  Well, let’s see:  if you’re reading this, the world apparently didn’t end last December 21, tho we have sailed off the much-ballyhooed “Fiscal Cliff”.  Personally, I have the feeling that the results are not going to be as dire as...Continue Reading!