State wide, country wide and county wide prices are going up for the first time in 6 years.  We noticed the down trend stopping in November of 2011, and prices rising starting in January of this year.  We are continuing to see inventories decreasing with greater demand.  Prices are going up!  Read  the following article from the San Luis Obispo Telegram Tribune about the prices rising here in San Luis Obispo County. Seven-month trend of rising median price and sales   By Julia Hickey — jhickey@thetribunenews.com  Dec 25   Home prices and sales in San Luis Obispo County grew year over year this November—continuing what is now a seven-month trend of rising home values.                 Last month, the median price for all homes in the county grew 4.4 percent from the same month in 2011, ri... 12/27/2012

We hope that all our readers had Happy Holidays.  Here is today's mortgage rate update from Prudential California Realty in San Luis Obispo California. Go to our web site for a state of the arts search of San Luis Obispo property needs www.myslohomefinder.com   The Day Ahead: S&P Case-Shiller's, and stillkeeping in mind the, Fiscal Cliff   Home prices continue to benefit from loose monetary policy and low mortgage rates as the S&P Case-Shiller's adjusted monthly reading for its 20-city index gained 0.7 percent in October, following a 0.4 percent increase the prior month. On an unadjusted basis the composite 20 index slipped 0.1 percent, following a 0.2 percent rise in September. On an unadjusted basis, demand typically eases in the autumn and winter months. On a year-ago basis, the unad... 12/26/2012

Merry Christmas and Happy New Year!  Mortgage rate update brought to you by Prudential California Realty in San Luis Obispo California.   The Week Ahead: Holiday-Shortened, Light On Data, Fiscal Cliff Countdown   Today: Market closes early Tuesday: Market closed Wednesday: The S&P/Case-Shiller 20-city home price index, prior.04% consensus.05% Thursday: Jobless Claims, prior 361K consensus 365K. New home sales, prior 368K consensus 375K. Consumer Confidence, prior 73.7 consensus 70.0. Friday: Chicago PMI, prior 50.4 consensus 51.0.Pending home sales, prior5.2% consensus1.8%   Dow is trading at 13,142 -40.82, the 10 yr bond is at 1.77 from 1.75 Friday, . Currently mortgages arebetter from Friday   Conv. - 3.25% FHA. -   3.125%            12/25/2012

The week ahead!  Merry Christmas, Happy New Year and Happy Holidays to all! This update is brought to us by Prudential California Realty in San Luis Obispo California.  The Week Ahead: Assessing The Impact Of Fiscal Cliff Failure And Responsibility           New orders for Durable Goodshave been very volatile in recent months and net flat. But maybe there is upward momentum with the latest report. New factory orders for durables in November rose 0.7 percent in November, following a 1.1 percent gain in October. Analysts expected a 0.5 percent gain. The very volatile transportation component was down slightly on aircraft subcomponents.. Excluding transportation, orders increased 1.6 percent, following a boost of 1.9 percent in October. Market expectations were for a 0.2 percent rise in or... 12/23/2012

Happy Friday to all!  I hope that you all have a Happy Holidays, Merry Christmas, and a Great New Year! This update is brought to us by Prudential California Realty in San Luis Obispo California.  The Day Ahead: Assessing The Impact Of Fiscal Cliff Failure And Responsibility           New orders for Durable Goodshave been very volatile in recent months and net flat. But maybe there is upward momentum with the latest report. New factory orders for durables in November rose 0.7 percent in November, following a 1.1 percent gain in October. Analysts expected a 0.5 percent gain. The very volatile transportation component was down slightly on aircraft subcomponents.. Excluding transportation, orders increased 1.6 percent, following a boost of 1.9 percent in October. Market expectations were f... 12/21/2012

Here is today's mortgage rate update!  Thanks Prudential California Realty in San Luis Obispo for supporting the update. See my web site at www.myslohomefinder.com for all your San Luis Obispo County home search needs. The Day Ahead: Tons of Economic Data.           Real GDP growth for the third quarter was revised up to 3.1 percent annualized, compared to the second estimate of 2.7 percent annualized and to the advance estimate of 2.0 percent.Jobless Claims continue to swing back and forth, making the data less than useful as a gauge for underlying employment. Initial claims swung 17,000 higher in the December 15 week to 361,000 following a revised 27,000 decline in the December 8 week.Existing Home Sales surged 5.9 percent in November to a 5.04 million annual rate. The number of distr... 12/20/2012

Prudential California Realty in the beautiful city of San Luis Obispo California brings you this update and may all have Happy Holidays, Merry Christmas and a wonderful New Year! Visit my state of the arts web site for all your home search needs www.myslohomefinder.com The Day Ahead: Housing Starts           Homebuilders slowed the pace of Housing Starts somewhat in November but this largely was minor pullback after strong gains the prior two months. However, October and September were revised down somewhat. Housing starts declined 3.0 percent, following an increase of 5.3 percent in October and a jump of 12.4 percent in September. The November starts pace of 0.861 million units marginally fell short of market expectations of 0.865 million and was up 21.6 percent on a year-ago basis.Oct... 12/19/2012

Here is today's mortgage rate update from Prudential California Realty in San Luis Obispo California. Go to my web site at www.myslohomefinder.com for all you San Luis Obispo County home search needs!   The Day Ahead: Fiscal Cliff Headlines Have Bond Markets on the Ropes           Home builders are reporting the best conditions in more than five years, based on the Housing Market Index which keeps on improving with a two point gain in December to 47. This index is up now for eight months in a row and is quickly approaching the breakeven 50 level. A reading over 50 would indicate that more builders describe conditions as good than bad.Regional data show a sharp pickup in the Northeast which was held down in November, likely the result of Hurricane Sandy. The region showing the greatest s... 12/18/2012

Anyone out there need to re-finance or buy a home?  Time to get off the fence and do it now!  If inflation kicks in say "bye bye" to the 3% mortgage. This update is brought to us by Prudential California Realty in San Luis Obispo California.  Where customer satisfaction is our top goal, and home to the "best buddy" deal. The Week Ahead: Extra Economic Data and Fiscal Cliff Headline Potential           The manufacturing sector in the area of New York state has been contracting steadily since August. The general business conditions index of the Empire State manufacturing report fell to minus 8.10 for the December reading vs minus 5.22 and minus 6.16 in the prior two months. This report has shown no effect from the landfall of Hurricane Sandy or the aftermath. The report for December is fi... 12/17/2012

Here is the weekend mortgage rate update from Prudential California Realty in San Luis Obispo California.   Go to our web site www.myslohomefinder.com for your home search needs.     The Week Ahead! CPI, Industrial Production           Consumer price inflation dropped in November on lower energy costs and the core rate softened. The consumer price index in November fell 0.3 percent, following a 0.1 percent increase the month before. The latest number posted lower than the consensus forecast for down 0.2 percent. Excluding food and energy, the CPI rose 0.1 percent, following a boost of 0.2 percent in October. The median market forecast was for a 0.2 percent rise.Industrial production rebounded in November with notable help from recovering from Hurricane Sandy and a boost in auto assembli... 12/16/2012

Per Data Quick the sales of So. Cal homes had the best November in the last 6 years!  We all can feel the demand going up!  Now here are some stats that back it up! Visit my web page for all your home search needs www.myslohomefinder.com   Southern California’s housing market continued its gradual recovery last month, logging the highest November sales in six years amid strong demand from investors and move-up buyers. ... total of 19,285 new and resale houses and condos sold in Los Angeles, Riverside, San Diego, Ventura, San Bernardino and Orange counties last month. That was down 8.5 percent from 21,075 sales in October, and up 14.2 percent from 16,884 sales in November 2011, according to San Diego-based DataQuick. A decline in sales from October to November is normal for the season. L... 12/15/2012

I have today's mortgage rate update brought to us by Prudential California Realty in San Luis Obispo California, "Where our clients always come first!" See our web site at www.myslohomefinder.com for all your home search needs. The Day Ahead: Last Auction, Retail Sales, and Post-FOMC Range-Finding   Jobless claims continue to unwind effects from Hurricane Sandy which caused a giant 90,000 spike in the November 10 week. Data since then show four straight weeks of major declines that total 108,000 and include a 29,000 decline to 343,000 in the latest data for the December 8 week. The 343,000 level is the lowest since early October, but given all the distortions it would be premature to conclude that the jobs market is improving. The Labor Department notes no special factors in the latest ... 12/13/2012

Does your team follow a Service Pledge to ensure that your company is always represented in a positive, professional manner?  Before you say, "Aren't these items common sense?" let me share that I have witnessed too many "unprofessional conduct" situations from agents.  So the answer is NO, it is NOT common sense, and by putting it in writing, we set clear expectations for all parties in advance.  And better yet, now we can require ACCOUNTABILITY. Several years ago, there was an unpleasant experience with a person who was representing our company.  Okay so I said it.  One of our agents yelled at another agent, and hung up the phone on her.  NOT the best strategy... would you say!  Of course the other agent immediately called ME, the broker, madder than ever -- and gave me an earful.  I ... 12/13/2012

Here is today's mortgage rate update.  We'll have to watch what's going on with the Fiscal Cliff.  I think we already have too much in taxation now and we can cut government spending! See my web site at www.myslohomefinder.com  for all your home search needs. The Day Ahead: International Trade   The U.S. trade balance in October widened somewhat on higher oil imports and on slippage in the services surplus. Weakness in Europe and Japan is hitting the shores of the U.S. as the decline in exports was widespread. The trade deficit worsened to $42.2 billion from $40.3 billion in September (originally $41.5 billion). The market consensus called for a trade gap of $42.8 billion. Exports fell 3.6 percent in October, following a 3.1 percent rebound the month before. Imports fell 2.1 percent aft... 12/12/2012

Mortgage rates have been so low for awhile.  I hope that people aren't taking them for granted!  They can go up really fast if we see inflation or get hit with higher prices. Visit my web site at www.myslohomefinder.com for all your home search needs. The Day Ahead: Import and Export Prices, FOMC announcement           Import and Export Prices, a drop in petroleum prices led to wide declines in import prices during November, down 0.9 percent with the year-on-year rate at minus 1.6 percent. Petroleum prices have pulled the year-on-year rate into the minus column now for six of the last seven months. Petroleum prices, down 3.6 percent on the month, are down 7.0 percent year-on-year.Reflecting softness in foreign demand are export prices which for finished goods, like they are for imports,... 12/12/2012

Under debate right now is reduction or removing the home mortgage deduction from the federal tax code. What will this cost us?  It will basically be a tax hike for millions of Americans!  Can we afford raising taxes in this recession?  So here goes away another reason to own a home!  Here is what it will cost on a state basis as a new tax on home owners- STATE                         AVERAGE MORTGAGE             AVERAGE DEDUCTION LOST California                     $295,637                             $3,878 Hawaii                         $295,692                              $4,026 Washington D.C.          $331,855                              $4,521 New York                     $230,192                              $3,175 New Jersey                   $249,430                          ... 12/10/2012

I hope that all my loyal readers had a great weekend!  Here is the mortgage rate update for 12/10/2012.  This update is brought to you by Prudential California Realty in San Luis Obispo California. Here is my web site for your home search needs www.myslohomefinder.com The Week Ahead: Lots of Economic Data   Today: No Economic Data Tuesday: International Trade, prior -41.5B,consensus -42.8B Wednesday: Import prior0.5%,consensus -0.4%, Export Prices, prior0.0%,consensus 0.3%. FOMC Meeting Announcement. FOMC Forecasts. Fed Chairman Press Conference Thursday: Jobless Claims, prior370K,consensus 370K. Producer Price Index, prior-0.2%,consensus -0.5%.Retail Sales, -0.3%,consensus 0.6%. Friday: Consumer Price Index, prior0.1%,consensus -0.2%.Industrial Production, prior-0.4%,consensus 0.3%.   ... 12/10/2012

Is anyone afraid of the fiscal cliff?  Not me!  Maybe it would wake up some of the apathetic, and get them into action!  The White House is worried!  Here is a great article about what the effects could be!  Thanks to the AP for the article!   Stock market is a wild card in fiscal cliff talks By CHARLES BABINGTON Associated Press The Associated Press Monday, December 10, 2012 10:10 AM EST WASHINGTON (AP) — Congress and the White House can significantly soften the initial impact of the "fiscal cliff" even if they fail to reach a compromise by Dec. 31. One thing they cannot control, however, is the financial markets' reaction, which possibly could be a panicky sell-off that triggers economic reversals worldwide. The stock market's unpredictability is perhaps the biggest wild card in the p... 12/10/2012

  The Seatle Home Market is really hot!  It is going up at a rate of 20% in the past year.  I follow this market because it mirrors the local market here on the Central Coast.   With Washington's King County house prices rose by nearly 20 percent over the past year, according to a new report. I have attached a link to a great article talking about the growth.  We could be heading to a new major up swing in the West Coast markets.  I know that the desirable areas of California are seeing similar growth. http://www.seattlepi.com/realestate/article/Seattle-area-house-prices-surge-4094118.php     12/09/2012

I have been following the high price that many buyers are paying for fees associated with FHA loans.  As most of you know there is an up front fee one pays and a set amount that one has to pay monthly.  Are these high fees too much and are they going to pay for past loan loss?  This point is brought up at Dr. Housing Bubble blog in the attached article.  This makes an excellent read. Future FHA buyers to subsidize poor performing FHA loans of yesterday – Will the FHA make mortgage insurance premiums permanent? FHA insured loans are now a major part of the mortgage buffet available to home buyers.  This insured mortgage product has allowed many buyers to go in with 30x leverage when purchasing a new home.  So it should come as no surprise that the FHA is now inching closer to a bailout. ... 12/09/2012