David Ethridge's Blog - Archives June, 2009

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Home : Blogs : David Ethridge : David Ethridge's Blog : Archives June, 2009

Real Estate Sales Information for Long Beach, April 2009 - 06/10/09 01:38 PM

Thanks to my friends Christy Van and Robert Strausas from USA National Title Co. in Huntington Beach for providing the report with this information:
Long Beach Sales by ZIP Code, Month of April 2009
SINGLE FAMILY HOMES
90802 - 2 homes sold, median price $190k90803 - 12 homes sold, median price $723k90804 - 11 homes sold, median price $419k90805 - 52 homes sold, median price $218k90806 - 18 homes sold, median price $325k90807 - 18 homes sold, median price $385k90808 - 26 homes sold, median price $475k90810 - 17 homes sold, median price $260k90813 - 11 homes sold, median price $172k90814 … (5 comments)

What will my payment be? The cost of home-ownership in today's market... - 06/08/09 06:31 PM

It's been a while since I did one of my "What will my payment be?" blogs, so I thought it was high time I did. People always want to know what their payment will be. Of course, your credit as well as the amount you have for down payment both play a major role in determining your final payment, but here are a few examples to get you in the ballpark. Keep in mind that interest rates just went up about .5% this past week, so these are based on current rates.
If you have any questions about rates, mortgages, first-time … (0 comments)

Weekly Mortgage Rate Update - Buyers Take Note! - 06/07/09 01:11 PM

Here's the latest update I got from Steve Hageman at Bank of America on current mortgage rates. They show about a half point jump from just last week (see : Interest rates take a beating this week ) when they had already made a big jump. Buyers should take note and get the ball rolling if they want to purchase over the next few months. Rates continue to go up (see below). It is a good idea to have all of your clients that have been shopping for more than 30 days to contact me to reassess their maximum purchase prices. … (0 comments)

The Swing of the Pendulum.... What Borrowers need to know - 06/03/09 10:00 PM

This is a great post from James Downing's blog today:
Via James Downing - REALTOR®,GRI, ABR - DC Real Estate (Coldwell Banker Residential Brokerage):
As we all know - in years past; just about anyone could get a mortgage. Of course there were standards; but they pretty darn loose. A mediocre credit score; very little cash and even shaky job history - would get you qualified for a mortgage.
The Pendulum had swung so far - that my dog could have been pre-approved to buy a home!
Now things have changed. DRASTICALLY !
I have had clients will PLENTY of CASH. GREAT job history. GOOD … (0 comments)

Website resources and links from Fannie Mae - 06/02/09 02:35 PM

Website Resources:

Making Home Affordable
The Making Home Affordable Program announced on March 4 , 2009 includes Fannie Mae Affordable Refinance options and the Home Affordable Modification Program. The information can be obtained at https://www.efanniemae.com/sf/mha/index.jsp or http://www.MakingHomeAffordable.gov.

Fannie Mae Homes for Sale
Fannie Mae-owned properties offer great affordable housing opportunities, with up to 97% financing for select properties through HomePath® financing options.

Visit http://www.HomePath.com or Learn about HomePath Financing.

Fannie Mae Loan Lookup
The Fannie Mae Loan Lookup helps borrowers determine whether Fannie Mae is the investor on their mortgage.

Visit Fannie Mae Loan Lookup and Borrower … (0 comments)

Interest rates take a beating this week - 06/01/09 12:47 PM

Here's an email I got from one of my main loan officers this weekend:
Hello! It's been a bumpy ride for Lending this week! We had 5 pricing increases in a single day (May 27)! This was due to a massive run on the Bond Market stemmed by inflation fears. The market did settle down and produced some rate decreases on Friday. All "fence sitting" buyers should wake up and take notice that our low interest rates should not be taken for granted! Rates are still excellent, as you can see below. FHA rates are at 5.00%, at approximately 1% … (0 comments)

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David Ethridge

Long Beach, CA

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Sea Lion Real Estate

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