Up, Down, Up, Down Interest Rate- So. Cal.

 

Here are some key interest rate change indicators for your information. 

For current listing or current solds in your area – we invite to visit our website at

www.WeSpeakRealEstate.com. 

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Things that may raise interest rates.

 

Consumer Price Index Rises

Indicates rising inflation.

 

Durable Goods Orders Rise

Pickup in business activity usually leads to increased credit demand.

 

Housing Starts Rise

Shows growth in economy and increased credit demand. Fed tightens money supply by

raising rates.

 

Leading Indicators Up

Signals strength in the economy leading to greater credit demand.

 

Personal Income Rises

The higher one’s income, the more consumed, prompting higher prices of debt securities.

 

Producer Price Index Rises

Indicates rising inflation. Demand for, and prices of, goods rises.

 

Retail Sales Fall

Indicates stronger economic growth. Fed may tighten money supply.

 

What will lower interest rates?

hat May Raise Interest Rates

Gross National Product Falls

Reflect a slowing national economy. Fed loosens money supply by lowering rates.

 

Industrial Production Falls

Indicates slowing economic growth. Fed loosens money supply by lowering rates.

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Inventories Up

Indicates a slowing economy since sales are not keeping up with production.

 

Oil Prices Fall

Reduces upward pressure on interest rates, thereby enhancing prices of debt securities.

 

Precious Metal Prices Fall

Reflects decreased inflation. Demand for inflation hedges falls.

 

Unemployment Rises

Indicates stronger economic growth. Fed may tighten money supply.

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For Rent

Is it wise to rent my home?  -Many millionaires have been born through the use of buying holding and eventually cashing out on their real estate holdings. In this down market, where prices and loan products have become volatile, it may pay off to rent that home rather than let it stay vacant. Renting the home insures you do not have to take in a depreciated offer at this time. Real estate traditionally does appreciate with time.  This market is where investors are looking to swallow the losers, sit and sell them when they become winners again. If you are unable to care for the property hire a professional management company that will look after your property. Keep in mind that the rental may be subject to regular maintenance and cleaning when it is time for a new tenant or is sold. 

– Moving or trading up may have  you in need of a cash down payment.  You may refinance your current home and take the necessary funds  needed for a down payment making sure that the rental house does  not leave a great negative position on your finances.

 – If you just want it out of your life than selling for a less than expected price may be the answer for you. It would bring closure and you could  move on with cash in hand.

The big election year myth.

It has been said that you should not make a large investment in an election year. 

A home purchase is for long term stability. Most homes historically appreciate with time.

No matter which party holds the Presidential office you can bet that they will not disappoint voters by cutting off mortgage deductions. 

There are other variables that you should consider, such as price location and loan terms. These will have a direct affect in your financial future. 

At this time housing stock is ripe for choosing prime properties and interest rates are the best they have been in years. 

People looking to upgrade or first time buyers have much to take advantage of.

Don’t let the myth keep you

 from achieving the important things in your life. 

got equity?

It is a long term commitment when it comes to owning a property.

 Yes, prices go up and down. But you must remember the history of real estate,

the longer you stay in it, the better the return.

By: wespeakrealestate

What is Proposition 8?

Thanks to you California Voter’s Proposition 8 was passed in 1978: A constitutional amendment that allows a temporary reduction in assessed value when a property suffers a “decline-in-value.” (To read the law associated with Proposition eight, Revenue and Taxation Code, Section 51- at     www.boetaxes.ca.gov/property

It is when the current market value of your property is less than the current assessed value.

Help is here.

The Los Angeles County Assessors is applying Proposition eight for property owner whom purchased their home between July 1, 2005 and June 30, 2007. They will look at sales of comparable properties that sold near the lien date of January 1, 2008.

You must file a claim form for a Decline-in-Value Reassessment Application (Prop. eight) with the Assessor between January 1 and December 31 for the fiscal year beginning on July 1. If December 31 falls on a Saturday, Sunday or legal holiday, an application is valid if either files or mail and postmarked by the next business day. For questions and forms please write the following information:

The assessor office Online:  www.assessor.lacounty.gov
Email: helpdesk@assessor.lacounty.gov
Phone Call: (213) 974-3211

Office will complete this review by June 1, 2008 and will modify in writing those property owners who qualify for the reduction.

If the sale date is not with in the dates noted or is other than a single home or condominium, it will not be included in the review. But if you believe the assessed vale of the property shown on the 2007-08 tax bill is more than the fair market value as of the 1st of January 2008, you may file an application at the time through the 31st of December 2008.

No, No, No! Do Not Sell My Personal Information

Don’t sell my information.   Tired of unsolicited sales, pitches?  You can, “0pt Out” Having your credit checked is an important and necessary step in the home buying process.  It is also beneficial in helping to safeguard your credit rating and protecting against any inaccuracies which may be used against you in securing credit. However, those checking their credit should be aware of a potential downside.  Their inquiry with the credit bureaus Equifax, Trans Union, Experian and Innovis) could result in that information being sold by these credit bureaus to mortgage, insurance and other companies resulting in a flood of unsolicited fiancé offers, etc.   Mortgage companies are consistently ask by their clients why they are receiving unsolicited mailings.  This is the result in part, of their data being sold by the credit bureaus—Mortgage companies do not ever sell their client’s data to mailing houses or others. 

How does this happen?

 Under the Fair Credit Reporting Act (FCRA), the consumers credit reporting companies are permitted to include these names on lists used by creditors or insurers to make the unsolicited “firm offer of credit” or insurance . The benefits of this structure are that consumers can be provided with product choices, learn about offers that my not be available to the general public, or receive information so they can “comparison shop.”  What ends up frequently happening is a barrage of unsolicited mailings.    The good news is that the FCRA also provides the right to “Opt-Out” which prevents Consumer Credit Reporting Companies from providing your credit file information for firm offers of credit. 

What Can I do?

 The consumer credit reporting industries has provided a way to “Opt-Out” pm “firm offer of credit” and removes your name from these lists.  You can contact them by phone at 888  567-8688 or online at www.optoutprescreen.com  via this means consumers can opt out for either a 5 year period or permanently (requires a printed form submission which can be obtained from the web site).  Opting out will not impact a borrower’s ability to secure credit or insurance. By opting out, you can help to reduce the amount of unsolicited mailing you receive substantially.  If you are interest in protecting your privacy, “opt out” TODAY. 

An save some trees while you are at it.   “Keep it Green”