February 1st, 2016 at 10:00 am
The good news: Adjustables are low and it’s a seller’s market
The Federal Reserve Bank’s decision to raise its benchmark interest rate by .25 percent has been the talk of the financial and real estate world since it was announced last Dec. 16.
To gain some insight, we asked David M. Cabot, our President and CEO, for his take on the situation.
Q: Why did the Federal Reserve Bank raise the rate?
A: The Fed was waiting for the economy to be stronger, and they believe it is now. The rate determines what the banks pay to borrow money from the Fed. But the banks can set their own rates for consumers, and they do. This is the first rate increase in seven years.
It’s interesting that they made a decision to do it now because they’ve been wanting to for over a year. I’m not an economist, but 2 percent economic growth is very, very modest. If we were growing at 3 or 4 percent, an interest rate hike would be a welcome thing in the business world. But at 2 percent, we’re not really certain. If we don’t start at a point where we have some growth, we’re never going to get above zero. It’s probably a wise thing from a macroeconomic point of view.
January 18th, 2016 at 10:00 am
If you’ve thought about investing in real estate, a multi-family property can be an advantageous investment. These types of properties can be excellent ways to make money, but can also be a financial drain if not planned for properly. Before you decide if a multi-family property is right for you, there’s a few things you should consider. (more…)
January 5th, 2016 at 11:00 am
When President Barack Obama signed the $1.1 trillion spending measure Congress passed on Dec. 18, he wiped out a 35-year-old tax imposed on foreign investors in the U.S. The measure, which helped avoid a government shutdown, now treats foreign pension funds the same as their U.S. counterparts so far as real estate investments are concerned. While it’s hard to predict specifics, there could be broad consequences on residential as well as commercial property prices around the country. (more…)
October 21st, 2015 at 10:00 am
Not all real estate agents are created equal. Many sales associates carry designations and certifications from accredited programs, such as those offered by The National Association of REALTORS®, while others have worked in a specific niche market throughout their career.
The benefits of working with a specialist abound when you are trying to target a specific market or buy a certain type of home. For example, if you’re a first-time homebuyer, working with an agent who specializes in first-time homes can help you find qualifying programs. The same goes for buyers and sellers looking across the pond. Janice Lee, a REALTOR® – Sales Associate in our Pasadena office has seen continued success working with international clients. “Being bicultural, not just bilingual is such a gift. It allows me to best negotiate on my clients’ behalf (both sellers and buyers)!” Whether you’re looking to make an international purchase, or sell your home to an overseas buyer, working with a specialist can help you reach your goals with ease.
If you’re an international buyer looking to purchase in the U.S. or an American looking to buy in another country, you’re on your way to a smart investment. “The best asset to own on Earth is earth,” said agent Calvin Lo. Working with an experienced international sales associate gives you an advantage over other buyers.