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Bart Smith’s Real Estate Update December, 2010 The Pending Short Sale mirage continues….Currently there are 3045 pending short sales in OC. But, so far this year an average of 574 short sales have closed each month.  That’s a little over 5 months, on average, to close a short sale, or so it would seem.  In [...]

Election results are in….By now, the November election is history.  I hope your candidates and issues were victorious.  We are blessed to live in a country where our vote counts.  While it’s not a perfect system, it serves us well.  God Bless America ! ! ! UCLA forecasts home sales surge….Economists with UCLA’s Anderson Forecast [...]

What does Real Estate have to do with Health Care?….Well, it will help pay for health care under the plan our Congress passed.  That’s right.  Starting in 2013, real estate transactions will be TAXED at up to 3.8% of the purchase price to help pay for the health care plan.  Another example of our elected [...]

Amazing interest rates keep falling….August saw more declines in 30 year fixed rate home loans…now below 4.5% ! ! ! (Anyone remember 16% rates in 1980?). The Federal Reserve has indicated that they will keep rates low until the economy perks up. Is it time to re-finance?….If your current rate is at or above 5%, [...]

Low mortgage interest rates continue….At this writing, interest rates for a 30 year fixed rate mortgage are at about 4.5%, or 4.75 % with no costs, the lowest in 50 years.  Will this continue, you ask?  Only time will tell, but we see indications that for the short term, rates will likely stay pretty low. [...]

FED holds the line on interest rates…. The recent FED meetings resulted in “no change” in interest rates.  Recent rates are in the 4.5% range for a 30 year fixed rate mortgage.  Can you believe it?  Call if you want to re-finance (or purchase).  I’ll connect you with a seasoned mortgage professional who can get [...]

Interest Rates keep falling…. As offshore investors place money into US Treasury Bonds for safety, rates on mortgages continue to fall.   At this writing, a 30 year mortgage on a primary residence can be as low as 4.75% (or lower).  This is near the lowest in 50 years and could even go a little [...]

Interest Rates keep falling…. As offshore investors place money into US Treasury Bonds for safety, rates on mortgages continue to fall. At this writing, a 30 year mortgage on a primary residence can be as low as 4.75% (or lower). This is near the lowest in 50 years and could even go a little lower. [...]