Jim Cramer says, "Don't you dare buy a home now - you will lose money." - 09/28/07 05:54 PM

Cramer says: "Don't you dare buy a home now - you will lose money."
(Click on the link above to see the video!)
Hmmm...what do you make of that?
 
Lenn Harley has an excellent rebuttal! Read her post:
JIM CRAMER, REAL ESTATE, THE STOCK MARKET, and SOME PERSPECTIVE 
Additional Article(s) of Interest:
Waiting for the Bottom? Don't Bother!
… (26 comments)

Actualización Semanal De la Hipoteca De Wilshire - De Sept. El 24 - 09/25/07 04:54 PM
Recapitulemos:
La hipoteca de tarifa fija 30-year hizo un promedio de 6.34%, encima a partir del 6.31% la semana pasada.
La hipoteca de tarifa fija 15-year hizo un promedio de 5.98%, encima de levemente a partir del 5.97% la semana pasada.
La hipoteca de tarifa ajustable de un añ0 hizo un promedio de 5.65%, abajo levemente a partir del 5.66% la semana pasada.
Los tipos de interés se levantaron siempre tan levemente esta semana en medio de preocupaciones levemente disminuidas de la liquidez y aumentaron expectativas de la inflación; estos dos traídos encendido por esta semana’s alimentaron el corte … (4 comments)

Wilshire Weekly Mortgage Update ~ Sept. 24 - 09/24/07 08:52 AM
Let’s Recap:The 30-year fixed rate mortgage averaged 6.34%, up from 6.31% last week.
The 15-year fixed rate mortgage averaged 5.98%, up slightly from 5.97% last week.
The 1-year adjustable rate mortgage averaged 5.65%, down slightly from 5.66% last week.
Interest rates rose ever so slightly this week amidst slightly diminished liquidity concerns and increased expectations of inflation; both of these brought on by this week’s Fed Funds Rate cut.
The Fed Funds Rate:With this week’s decision by the Federal Open Market Committee to cut the Fed Funds Rate 50 basis points (.50%), the new rate stands at … (2 comments)

100 Top Most Influential People In Real Estate - 09/23/07 02:47 AM
I think it's safe to say that we all know Inman News! Well, they've just released their report on the 100 Most Influential People In Real Estate. And guess what? Some bloggers made the cut too!
 
 *Note: You can download the report at The Industry Report blog by CLICKING HERE.
And now, some of Ricardo Bueno's most influential people; we've shared knowledge, ideas, and inspiration. It's this kind of influence that makes us better professionals...it's this kind of influence that is the most valuable.
                                                                                      … (11 comments)

Decision One Shuts Down - 09/21/07 08:41 PM
In a recent article by Reuters UK, yet another lender falls victim to the "Mortgage Market Meltdown": "HSBC Holdings, Europe's biggest bank, said on Friday that it would close its U.S. subprime mortgage unit, cutting 750 jobs and taking an $880 million writedown, because the business is no longer sustainable...It was the latest blow from the meltdown in the U.S. market for loans to home buyers with poor credit histories."
This brings the mortgage lender "death" toll to a whopping 159 since late 2006 (per the Mortgage Lender Implode-O-Meter).
The Problem:
Investors drive the capital markets, in this case the bond … (2 comments)

FED FUNDS RATE CUT! - 09/18/07 03:12 PM
There's been a much anticipated rate cut for the past couple of weeks. In fact the cut in the Discount Rate was seen as a prelude to a cut in the Fed Funds Rate. The only question looming in people's minds was whether we would see a cut of 25 or 50 basis points (.25% or .50%). Now to the good part, the Fed announced a rate cut today in a Federal Reserve Press Release:
    "The Federal Open Market Committee decided today to lower its target for the federal funds rate 50 basis points to 4-3/4 percent.
    Economic growth was … (7 comments)

Wilshire Weekly Mortgage Update - Sept. 17 - 09/17/07 04:11 PM
Let's Recap:The 30-year fixed rate mortgage averaged 6.31%, down from 6.46% last week. The 15-year fixed rate mortgage averaged 5.97%, down from 6.15% last week. The 1-year adjustable rate mortgage averaged 5.66%, down from 5.75% last week. Those looking to purchase or refinance a home may find some comfort in seeing that mortgage rates across the board dropped from their recent levels just last week. As expected, last week's employment report caused a decrease in interest rates. The Fed Funds Rate:
It is expected that the Fed will cut the Fed Funds Rate by approximately 25 basis points (.25%) at their … (0 comments)

Actualización Semanal De la Hipoteca De Wilshire - De Sept. El 17 - 09/17/07 04:09 PM
Recapitulemos: La hipoteca de tarifa fija 30-year hizo un promedio de 6.31%, abajo a partir del 6.46% la semana pasada. La hipoteca de tarifa fija 15-year hizo un promedio de 5.97%, abajo a partir del 6.15% la semana pasada. La hipoteca de tarifa ajustable de un añ0 hizo un promedio de 5.66%, abajo a partir del 5.75% la semana pasada. Ésos que miran para comprar o para financiar de nuevo un hogar pueden encontrar una cierta comodidad en ver que las tarifas de hipoteca a través del tablero cayeron a partir de la su semana pasada justa de los niveles recientes. … (0 comments)

Former Fed Chairman Alan Greenspan Admits to Mortgage Dilemma on "60 Minutes" - 09/13/07 07:41 PM
If you read my previous article, "Pointing the Finger At Who Is To Blame," you know that the Federal Reserve is often criticized for not having stepped in to resolve our credit problem earlier on. To be more specific, the Fed and Alan Greenspan are criticized for having kept interest rates low for far too long a period of time.
In an article by Jeannine Aversa, AP Economics Writer, she writes about prior Fed Chairman Alan Greenspan and his omission to having been aware of our mortgage dilemma. Here's an excerpt from the article:
"'While I was aware a lot of … (7 comments)

Who Is To Blame? - 09/11/07 04:33 PM
How many of you are guilty of playing the Blame Game? You point the finger at someone else and you say,
        "it's their fault! Not mine." 
Well CNNmoney.com has compiled their top list of who is to blame for our credit fiasco.
But before you see it, who do YOU think is to blame?  
 >>>>>>CONTINUE<<<<<<
… (5 comments)

The Home Possible Program - 09/10/07 09:50 PM
DID YOU KNOW YOUR SELLER CAN HELP YOU REDUCE YOUR RATE? WHAT IS HOME POSSIBLE?
100% LTV PROGRAMLOW TO MODERATE INCOME HOUSEHOLDS OR BORROWERS BUYING IN UNDERSERVED AREASREDUCED MI RATES (Example -- Traditional MI 100% is .96; Home Possible MI is .59)AUTOMATED UNDERWRITING EASIER APPROVAL PROCESSLOW CREDIT SCORES ELIGIBLE BELIEVE IT OR NOT AS LOW AS 575GREAT FINANCING AND MARKETING OPPORTUNITY FOR:            First Time Home Buyers                Low to Moderate Income Households (Los Angeles County is $86,380!!!!)                Military Personnel                Teachers                Firefighter  … (2 comments)

Foreclosures Still On the Rise - 09/10/07 08:48 PM
Glenn Roberts Jr., article writer for Inman News, said in an article dated April 3, 2007 that:
"If home ownership is the American Dream, foreclosure is the nightmare."
How many of you would agree with that statement? Say "I."
The reality of the matter is that a lot of families consider owning a home to be a part of the American Dream. But with foreclosure rates looming so high, and the Credit Crunch taking it's toll, to more and more families, the American Dream of owning a home is now a nightmare.
What does this mean for Buyers?
Glenn Roberts … (7 comments)

Actualización Semanal De la Hipoteca De Wilshire - De Sept. El 4 - 09/09/07 08:00 PM
Recapitulemos: La hipoteca de tarifa fija 30-year hizo un promedio de 6.45%, abajo a partir del 6.52% la semana pasada. La hipoteca de tarifa fija 15-year hizo un promedio de 6.12%, abajo a partir del 6.18% la semana pasada. El BRAZO de un añ0 hizo un promedio de 5.84%, encima a partir del 5.60% la semana pasada.
Debilidad continuada del mercado de cubierta juntada con la confianza de consumidor que declina atribuida a la declinación de esta semana en tipos de interés. La Tarifa De Fondos Del Fed: El comité federal siguiente del mercado abierto (FOMC) programar para este de … (0 comments)

Wilshire Weekly Mortgage Update - Sept. 10th - 09/09/07 07:47 PM
Let's Recap: The 30-Year Fixed Rate Mortgage averaged 6.46%, up from 6.45% last week. The 15-Year Fixed Rate Mortgage averaged 6.15%, up from 6.12% last week. The 1-Year ARM averaged 5.74%, down from 5.84% last week. Rates rose this week however only slightly. Mixed economic data last week showed slight increases than expected. For example, national house prices grew by .1% in the second quarter. That's the slowest growth increase since the fourth quarter in 1994! The Fed Funds Rate:The next Federal Open Market Committee (FOMC) is scheduled for this September 18th at which point the Fed is expected to cut … (2 comments)

Actualización Semanal De la Hipoteca De Wilshire - De Sept. El 10 - 09/09/07 07:46 PM
Recapitulemos: La hipoteca de tarifa fija 30-Year hizo un promedio de 6.46%, encima a partir del 6.45% la semana pasada. La hipoteca de tarifa fija 15-Year hizo un promedio de 6.15%, encima a partir del 6.12% la semana pasada. El BRAZO 1-Year hizo un promedio de 5.74%, abajo a partir del 5.84% la semana pasada. Rosa de las tarifas esta semana sin embargo solamente levemente. Los datos económicos mezclados la semana pasada demostraron aumentos leves que esperados. Por ejemplo, los precios de casa nacionales crecieron por el 1% en el segundo trimestre. ¡Ése es el aumento más lento del crecimiento desde … (0 comments)

Wilshire Weekly Mortgage Update - Sept. 4th - 09/06/07 12:37 AM
Let's Recap:The 30-year fixed rate mortgage averaged 6.45%, down from 6.52% last week. The 15-year fixed rate mortgage averaged 6.12%, down from 6.18% last week. The 1-year ARM averaged 5.84%, up from 5.60% last week.
Continued housing market weakness coupled with declining consumer confidence attributed to this week's decline in interest rates. The Fed Funds Rate: The next Federal Open Market Committee (FOMC) is scheduled for this September 18th at which point the Fed is expected to cut the Fed Funds Rate. The anticipated rate cut is approximately 25 basis points (.25%). The Week Ahead:Although it's a short week because … (3 comments)

If I'm A Home Owner/Borrower, What Can I Do To Be Pro-Active About These Market Conditions? - 09/05/07 10:55 PM
So if I'm a home owner/borrower, what can I do to be pro-active and know that I can be a home owner free and clear of this credit crisis?
You want to go over the following with your lender:
- Credit Reviews - the bar for a minimum qualifying credit score has been raised. FICO score is king of the mortgage arena.    
680 is the new 620.
700+ with assets are king (especially for those higher LTV's)  
- Recast Reviews - when your mortgage adjusts, you want to be prepared and anticipate what your new payment is going to be. You also … (10 comments)

FHA and the New FHASecure Plan - 09/05/07 09:53 PM
Last week Bernanke wrote a letter to the Senate calling for new, creative loan programs. Then on Friday August 31st, in a HUD News Release...
"President George W. Bush today announced that HUD's Federal Housing Administration (FHA) will help an estimated 240,000 families avoid foreclosure by enhancing its refinancing program... Under the new FHASecure plan, FHA will allow families with strong credit histories who had been making timely mortgage payments before their loans reset-but are now in default-to qualify for refinancing... To qualify for FHASecure, eligible homeowners must meet the following five criteria:
A history of on-time mortgage payments before the … (2 comments)

Conforming Loan Limit Increase? Maybe not! - 09/05/07 07:00 PM
As we know, a raise in the conforming loan limits would probably help our current situation. Would you agree? Think about it, by allowing them to purchase mortgages beyond their current loan limits, we would establish some more liquidity in the current market. And I'm not just talking locally. How many other states outside of California are suffering through this Credit Crisis? [Fannie Mae & Freddie Mac buy loans and package them up as securities for sale in the secondary market, thereby injecting liquidity into the marketplace.]Well, although it has been suggested, in last week's Market Watch article: "The White House … (2 comments)

 

Ricardo Bueno

Los Angeles, CA

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I work for Diverse Solutions, Inc. a real estate technology firm based in Irvine, CA. We offer Mapping IDX Solutions and a WordPress IDX Plugin to make real estate agents more successful. Overall, I'm passionate about marketing and technology for the real estate industry!


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