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New Home Sales, Mortgage Rates Up in Past Week - Weekly Digest, 11/2/2008

By
Real Estate Agent with ChangHomes, in partnership with RE/MAX Select One

Beginning November 1, I have slightly changed the format for my weekly blogs. The weekly blog has become longer and longer, so I have moved the full story and articles to a sister site, http://changhomes.blogspot.com/.

This blog, which continues to be emailed to all subscribers, will summarize newsworthy housing, economic, and real estate events of the week, and will have links to the full story at the sister site.

During the month of November, I will continue to make improvements to interconnect the blog with distribution methods and the website. As always, I look forward to your comments and feedback. Just send me an email at changhomes@gmail.com. Thank you for your continued interest and support!

 

New Home Sales Up in September - Often considered a precursor to home sales in general, sales of newly built single-family homes posted a slight increase in September, rising 2.7 percent to a seasonally adjusted annual rate of 464,000 units, according to a U.S. Dept. of Commerce report released Monday. The report also indicated that builders are making substantial progress depleting the supply of unsold units on the market. http://changhomes.blogspot.com/2008/11/new-home-sales-rise-27-percent-in.html  (CAR, 10/29)

 

New statistics have been released from the Southland Association of REALTORS(R), but I am unable to retrieve that tonight as I write this. Please view the link above to the article repository. As soon as I can retrieve it, the statistics for San Fernando and Santa Clarita Valleys will be posted there.

 

Mortgage Rates Inch Up - News Freddie Mac reports a jump in the 30-year fixed mortgage rate to 6.46 percent during the week ended Oct. 30 from 6.04 percent the prior week, as long-term mortgages rates moved in line with long-term Treasury bonds. The 15-year fixed mortgage rate rose as well, climbing to 6.19 percent from 5.72 percent. Meanwhile, the five-year hybrid adjustable mortgage rate moved up to 6.36 percent from 6.06 percent; and the one-year ARM increased to 5.38 percent from 5.23 percent. Freddie Mac chief economist Frank Nothaft expects short-term rates to remain low due to the Federal Reserve’s recent cut in the discount and federal-funds rates, and he notes that falling home prices have jump-started residential sales in some markets by making properties more affordable. http://changhomes.blogspot.com/2008/11/mortgage-rates-inch-up-this-week.html    (WSJ, 10/31, via Real Estate Daily News)

 

Bargain Hunters are out! I was representing clients at a home auction this weekend, and it's incredible the deals you can get. Homes as low as $40,000. Are you a bargain hunter? Call me and lets start shopping!

 

Plan your Winter with these Santa Clarita Events! -

  • Fine Craft Show (November 15-16) -  Join us at Old Orchard Park for a relaxed and enjoyable weekend of shopping featuring fine handcrafted items, specialty foods, coffees and jazz music. You will find many one-of-a-kind gifts including intricate and colorful handcrafted jewelry, pottery, woodwork, ceramics, floral arrangements, and much more. For more information, please visit www.santa-clarita.com/crafts.
  • Veterans Day (November 11) The Veterans Day Ceremony is held annually on November 11th at the Veterans Memorial in Old Town Newhall. The event is a partnership between the City of Santa Clarita and the Veterans’ Historical Committee, the SCV Chapter 91 Blue Star Moms, Blue Star Moms of the Canyons Chapter 82, Prayer Angels for the Military, and the Knights of Columbus. The Ceremony honors Veterans and individuals serving in the military and their families. For more information, please call (661) 286-4018.
  • Paint the Town (December 5) In celebration of the holiday season, and to create a joyful holiday setting in Old Town Newhall, the City of Santa Clarita presents a ‘Holiday Window Painting Contest.’ For more information, please visit www.santa-clarita.com/arts.
  • Literacy and Arts Festival (December 6) On Saturday, December 6, celebrate the holidays with the second annual Literacy and Arts Festival, presented by the Santa Clarita Valley Education Foundation and the City of Santa Clarita. For more information, please visit www.scveducationfoundation.org.
  • Old Town Newhall Holiday Parade (December 6, 2008) All Santa Clarita Valley children are encouraged to participate by walking in the parade and dressing up according to their family’s holiday traditions. For more information, please visit www.santa-clarita.com/arts.
  • Disney’s High School Musical: The Ice Tour (December 27) Celebrate the holidays with the gang from the High School Musical located at the Honda Center in Anaheim. This trip includes transportation by bus and reserved seats in the lower level at the Honda Center. For more information, email trips&tours@santa-clarita.com.
  • Tournament of Roses Parade 2009 (January 1) Pasadena’s 120th annual Tournament of Roses Parade, “Hat’s Off to Entertainment” will be making its way down Colorado Boulevard and we have reserved a seat just for you! For more information, email trips&tours@santa-clarita.com.
  • Glacier Slide Polar Bear Swim (January 1) Join the official Santa Clarita Polar Bear Club by taking a chilly plunge in the Aquatic Center’s waterslide pool on New Year’s Day. For more information, please contact (661) 250-3766.
  • Santa Clarita Valley Film Festival (January 8-11) The 4th Annual SCV Film Festival provides local filmmakers with opportunities to show their work and to come together with an audience to enjoy quality independent films. For more information, please visit www.scvfilmfestival.com.

 

During the Week, look for the following articles to be posted on the Sister Site -

  • Home sales statistics for Santa Clarita and San Fernando Valleys
  • Foreclosure: When Must I Move Out?
  • Don't Wait Until Selling to Make Repairs
  • Will Shopping Multiple Lenders Hurt Credit?
  • When It Makes Sense to Overpay for House
  • Buy Now, Sell Later?

 

Already in the Repository -

 

Search these articles and more at - http://changhomes.blogspot.com/.

 

Sources: CAR, NAR, Wall Street Journal, Real Estate Daily News, USA Today, City of Santa Clarita.