burlingame: Fed Considers Future of Quantitative Easing - 02/26/13 05:08 AM
The Federal Open Market Committee (FOMC) released minutes from its January meeting last Wednesday, as it generally does three weeks following the most recent meeting.  
The FOMC is a committee within the Federal Reserve System tasked with overseeing the purchase and sale of US Treasury securities by the Fed.
The Federal Reserve makes key decisions regarding interest rates and looks to this committee for advice on how and when to take action.
The Future Of Quantitative Easing
One of the main topices that Fed leaders discussed was the future of its ongoing program of quantitative easing (QE).
Currently, the Fed … (1 comments)

burlingame: What's Ahead For Mortgage Rates This Week: February 25th, 2013 - 02/25/13 05:28 AM
This week, however, will be packed with economic reports which may have an impact on interest rates going forward.
Freddie Mac reported that the average rate for a 30-year fixed rate mortgage rose by 3 basis points from 3.53 percent to 3.56 percent with borrowers paying 0.8 in discount points and all of their closing costs.
The average rate for a 15-year fixed rate mortgage was unchanged from last week at 2.77 percent with borrowers paying 0.8 in discount points and all of their closing costs.
In other economic news, the Consumer Price Index (CPI) for January fell slightly to 0.0 … (1 comments)

burlingame: Will You Need Private Mortgage Insurance on Your Mortgage Loan? - 02/22/13 01:47 PM
Have you heard the term Private Mortgage Insurance (PMI) when looking to finance real estate?
You may be wondering what PMI is and how you know when you need to purchase it.
These answers can be hard to find among all the real estate jargon you might be hearing lately.
Below is the short version of what you need to know.
What is Private Mortgage Insurance?
Private Mortgage Insurance is an insurance premium required by some lenders to offset the risk of a borrower defaulting on their home loan.
When you put down less than 20 percent of the real estate's … (0 comments)

burlingame: 3 Common Myths About Real Estate Short Sales - 02/21/13 11:15 AM
Many people don't have a clear understanding of the purpose of short sales or how they actually work.
Essentially, a short sale is when one sells their home for less than the balance remaining on the mortgage attached to the property.
The proceeds from the sale are used to repay a pre-negotiated portion of the balance to settle the debt.
A short sale can be a solution for homeowners who really need to sell their home but owe more on the mortgage than the home is worth.
Understanding the short sale process can help make the most out of a real … (0 comments)

burlingame: Strong Builder Confidence May Signal Good Time To Buy New Homes - 02/20/13 01:58 PM
Many times real estate market experts point to the feelings of the nation's home builders as a bell-weather signalling the health of the housing sector.
This month's reading indicates that home builders are feeling pretty good.
The National Association of Home Builders / Wells Fargo Housing Market Index (HMI) for February changed by one point to 46 as compared to 47 for January's reading. 
Over the last four months, HMI readings have stayed within a three-point range between 45 and 47, indicating a plateau after rising from 25 to 45 in 2012.
Housing Market Index Near Highest Levels Since 2006
The … (3 comments)

burlingame: 3 Stress-Free Packing Tips For Moving Into Your New Home - 02/19/13 05:30 AM
Moving everything in your house to your new Bay Area home can be an overwhelming task.
You never realize how much stuff you actually own until you try to fit it all into boxes and move it somewhere new.
When you are packing up your things to relocate, here are some helpful tips to make your moving experience much easier:
Start Packing In Advance
You don't have to wait until the day before you move to start packing everything in your house!
As soon as you find out that you are moving, you can start packing the items you don’t often … (0 comments)

burlingame: Why Buying Real Estate Can Be A Smart Financial Move - 02/17/13 08:49 AM
Buying Burlingame real estate doesn't just give you a place to live; it can also be a very smart financial move.
This is because owning a home can be like having a forced savings account, which you are committed to for the long term.
Consistent Saving On Autopilot
Sometimes saving money on our own each month is difficult. It takes a lot of discipline to maintain a consistent savings plan.
However, paying your mortgage every month means that you are paying down the principal and working toward eventually owning the property outright.
In the early years of the mortgage, the payments … (0 comments)

burlingame: Over 70% Of US Metro Market Housing Markets Improve In February - 02/14/13 06:49 AM
The National Association of Homebuilders recently released its Improving Markets Indexfor the month of February.
The report attempts to identify U.S. metropolitan areas in which the economy is improving, demonstrating "measurable and sustained growth".
259 U.S. markets are qualified as "improving" this month, a 17-market jump from the month prior and includes participants from all 50 states as well as the District of Columbia.
Experts point to improving market conditions in at least one market in all 50 states as a strong indication that the housing recovery is gaining substantial momentum.
This increasing momentum may suggest that now may be a … (0 comments)

burlingame: 5 Power Saving Ideas That Can Lower Your Energy Bill - 02/13/13 06:43 AM
How to Save Money on Energy Costs in Your Home
Many communities in California and around the US are seeing their energy costs increase; sometimes dramatically.
Whether you are energy conscious or just trying to save money, there are many steps you can take to lower your Burlingame home bills while helping the environment at the same time.
Below are several energy-saving measures to help you save money either in your current house or future residence. 
Heating and cooling
Keeping your home at a comfortable temperature uses more energy than anything else.
To save energy, install a programmable thermostat to adjust … (0 comments)

burlingame: Clever Tips for Paying Off Your Home Mortgage Faster - 02/12/13 05:20 AM
Paying off the mortgage on your Burlingame home faster not only means that you'll be able to enjoy the peace of mind that comes with completely owning your property sooner, but you may also save thousands of dollars in mortgage interest payments over time.
Below are seven clever tips to help you get your mortgage payments on the fast track.
Save for a large down payment
Make as large of a down payment as you can reasonably afford. The more cash you can put down, the less you'll have to borrow from the bank. This will reduce your monthly mortgage obligation.
… (0 comments)

burlingame: What's Ahead For Mortgage Rates This Week: February 11th, 2013 - 02/11/13 07:48 AM
Mortgage rates worsened last week in response to more indications that the U.S. economy and global economic trends are improving. Global economic data was stronger than expected; which generally boosts investor confidence and leads to higher mortgage rates in California and across the country.
According to Freddie Mac, the average rate for a 30-year fixed rate mortgage was 3.53 percent with borrowers paying all of their closing costs and 0.8 percent in discount points along with a full complement of closing costs.
The U.S Department of Commerce reported that Factory Orders for December improved over November; they rose from 0.0 percent … (0 comments)

burlingame: When Can You Buy Real Estate After Foreclosure? - 02/08/13 05:20 AM
If you lost your San Carlos home due to foreclosure, you probably haven't given up on the dream of owning a new home. The good news is that a number of guidelines have changed which may allow  you an opportunity to buy that new home sooner than you think.  
There are a few guidelines that lenders follow to determine when you’ll qualify for financing after foreclosure. Arming yourself with this information may help you qualify again for a mortgage.
Foreclosure With Extenuating Circumstances
Generally, lenders will take into consideration any extenuating circumstances surrounding the foreclosure on your California real estate.
… (0 comments)

burlingame: Case-Shiller Index Shows Near 6% Home Price Gain - 02/07/13 05:20 AM
Home prices continue their upward climb. 
Last week, the S&P/Case-Shiller Index showed home prices gaining 5.5 percent during the 12-month period ending November 2012, marking the largest one-year gain in home prices since May 2010.
The Case-Shiller Index measures changes in home prices by tracking same-home sales throughout 20 housing markets nationwide; and the change in sales price from sale-to-sale.
Detached, single-family residences are used in the Case-Shiller Index methodology and data is for closed purchase transactions only.
Between November 2011 and November 2012, home values rose in 19 of the 20 Case-Shiller Index markets, with previously-hard hit areas such as … (1 comments)

burlingame: Tax Breaks Granted By The 2012 Fiscal Cliff Negotiations - 02/06/13 06:32 AM
There was plenty of discussion and debate leading up to the New Year's looming "fiscal cliff". Ultimately, the event was avoided, but not before legislation was passed which may benefit homeowners in San Mateo and nationwide. 
If you have yet to file your 2012 taxes, take a minute to review the tax limitations and credit extensions, which Congress passed through the HR 8 legislation. You'll want to ensure you're paying the proper tax bill come April 15.
Of course, every individual's tax situation is unique. Review your allowable deductions and credits with your tax preparer.
Energy Updates
The tax credit for … (0 comments)

burlingame: 6 Tips For Buying An Older Home - 02/05/13 05:11 AM
Older Burlingame homes sometimes offer more charm and character than the newer houses of today. They boast gabled roofs, crown moldings, hardwood floors and antique fixtures.
Buying an old house is like buying a piece of local history. Its beautiful period features can give it a timeless beauty and grace that is hard to resist.
However, buying a house from another era can be an endeavor fraught with potential problems. Older houses are not necessarily built to the same electrical or plumbing standards of today. Plus, if they have not been maintained correctly through the years, they can turn into a … (1 comments)

burlingame: What's Ahead For Mortgage Rates This Week : February 4, 2013 - 02/04/13 05:14 AM
Mortgage rates worsened last week amid evidence of an improving economy. Conforming mortgage rates climbed in California and nationwide, rising to a 4-month high.
Freddie Mac has the average 30-year fixed rate mortgage rate at 3.53% for borrowers willing to pay 0.7 discount points plus a full set of closing costs.
There was plenty of news on which for rates to move last week.
First, the Federal Open Market Committee (FOMC) met and voted to hold the Fed Funds Rate in its current target range near 0.00 percent. The Fed also recommitted to purchasing mortgage-backed securities (MBS) and Treasury securities on … (0 comments)

burlingame: Help Your Home Office Shine When Selling Your Property - 02/01/13 05:06 AM
With telecommuting continuing to rise, and with more jobs requiring after-hours attention, showcasing your home's "home office" can help it show better with a prospective home buyer. 
It's wise to have your kitchen, bedrooms and bathrooms show well, but a great-looking home office can make a huge impact and help you sell your home more quickly.
Here are a few tips to helping your home office shine :
Designate The Right Space
Whether it's a spare bedroom or a computer nook, specify a separate place at which business is done. Make sure the area has enough room to set up a … (1 comments)

burlingame: Breaking Down The Federal Reserve Statement (January 2013 Edition) - 01/31/13 06:12 AM
The Federal Reserve's Federal Open Market Committee (FOMC) voted to maintain the Federal Funds Rate within its current range of zero to 0.25 percent, and to continue its current stimulus program of purchasing $85 billion monthly in Treasury bonds and mortgage-backed securities (MBS).
Citing weather-related events such as Hurricane Sandy and drought in the Midwest, the committee said in its statement that information received since its December 2012 meeting "suggests that growth in economic activity has paused in recent months in large part because of weather-related disruptions and other transitory factors."
Concerns over the then-looming fiscal cliff crisis may have also … (0 comments)

burlingame: How To Paint Your Home's Exterior Walls - 01/30/13 01:42 PM
When preparing to sell a home, few things improve its curb appeal more than a fresh coat of exterior paint.  
Many people are intimidated by the thought of painting their home's exterior, and choose to hire a third-party to handle the work. But, you can do it yourself, with these easy steps.
First, before starting, you'll want to inspect your home. Examine all walls, look under the eaves, and pay attention to door frames and windows.  Be on the lookout for peeling paint, mildew and rough surfaces and make a note of them.
Next, gather the tools you'll need to … (1 comments)

burlingame: Pending Home Sales Post 20th Consecutive Month Of Annual Gains - 01/29/13 05:31 AM
The National Association of REALTORS® (NAR) reports that the Pending Home Sales Index fell 4.3 percentin December as compared to the month prior. The index now reads 101.7.
The Pending Home Sales Index measures the number of U.S. homes that have gone "into contract", but have not yet closed. The report is based on data collected from local real estate associations, and from national brokers.
Despite December's drop, however, the annual rate at which contracts for a home purchase were drawn increased 6.9 percent from one year ago, and marked the 20th consecutive month of annual purchase contract gains.
NAR reports … (0 comments)