SOCAL OFFICE REAL ESTATE SNAPSHOT – APRIL 2011
Apr 2, 2011 Real Estate Consultant Leave a comment | Tags: Estate, Office Real, Office Real Estate, Real Estate
by Jodi Summers
The news is slowly improving for the office real estate market…but not so much here in Los Angeles. National figures indicate that the fundamentals of the commercial real estate industry are slowly improving past the bottom of the cycle…ever so slowly.
In February, national unemployment had dropped to 8.9% and we dropped again to 8.8% in March. This is stellar news, as the United States has not seen unemployment in the 8%+ range during the entire Obama administration. Twenty Seven states and the District of Columbia recorded unemployment rate decreases, 7 states registered rate increases, and 16 states had no change, the U.S. Bureau of Labor Statistics reported. Fort
Mortgage interest rates increased this week.
Apr 2, 2011 Mortgage Information Leave a comment | Tags: Interest Rates, Interest Rates Increased, Rates Increased, Week
Mortgage interest rates increased this week and sales of distressed properties subsequently continue to increase home properties and as a result sales maintain weak.
Freddie Mac, the government sponsored enterprise released that its primary mortgage market survey projected the average rate for a 30 year, fixed mortgage increase to 4.86% for the week ending Thursday from 4.81% the prior week. The average rate for a 30 year, fixed mortgage rose to 4.09% from 4.04 the prior week, as projected Freddie Mac survey.
“Fixed mortgage rates rose slightly for a second week in a row, but continue to remain quite low,” according to Freddie Mac chief economist Frank Nothaft. “Low rates have benefited from relatively benign inflation reports.
March Madness Mortgage Rates
Mar 28, 2011 Mortgage Information Leave a comment | Tags: Rates
It’s been two weeks since my last “scheduled” rate post so the arrows you see below are reflective of the change in interest rates since Monday, March 14. Next Monday’s rate post should be interesting as it’s after April Fools. Why does this matter? Unless the pending lawsuits are successful in stalling the Fed’s rule on loan originator compensation, I will not be able to personally price rates…in fact, I won’t even be allowed to use any of my compensation to help pay for closing costs for my clients. It’s another classic case of the government meddling too late in the mortgage biz (where were they DURING the subprime crisis?) and doing too much without having a CLUE of the consequences (think of the appraisal issues caused by HVCC and HUD’s confusing and too restrictive Good Faith Estimate). Rant over…now it’s time for this week’s rates.
Here are some of what’s scheduled for release this week that may impact rates:
Monday, March 28: Personal Consumption Expenditures and Core PCE and Pending Home Sales
Tuesday, March 29: Consumer Confidence
Wednesday, March 30: ADP National Employment Report
Thursday, March 31: Initial Jobless Claims and Chicago PMI
Friday, April 1: THE JOBS REPORT
Rates posted below are as of 12:00 p.m. on March 28, 20
CENTURY 21 Sweyer Given Prestigious Award at Cartus Broker Network International Conference
Mar 27, 2011 Real Estate Advice Leave a comment | Tags: Conference, International Conference, Network International, Network International Conference
We are proud to announce that our company was honored for our outstanding achievements during the last year at the 2011 Cartus Broker Network International Conference held February 27-March 1 in Scottsdale, Ariz.
We were given the Platinum Excellence Award. The prestigious Platinum Award is the highest level of achievement that can be attained by the Cartus Broker Network’s principal brokers. Only 5 percent of the Network’s 425 principal brokers received Excellence Awards for 2010. Rec