February 2nd, 2016 at 10:00 am
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 29th, 2016 at 10:00 am
We are delighted to announce that Amy Engler, one of the most highly respected real estate professionals in the San Gabriel Valley, has joined our Pasadena office. A Los Angeles native and 20-year Pasadena resident, Amy was a top producer at another Pasadena brokerage, where she earned a stellar reputation since obtaining her license in 2004.
Amy specializes in luxury homes, but is eager to assist you with the purchase or sale of properties in all price categories. She is always available to work tirelessly on your behalf. Contact her at 626.204.5188 direct, or amy@amyengler.com.
January 28th, 2016 at 10:00 am
Hall of Fame basketball player Mitch Richmond must be jumping through hoops – figuratively speaking – after selling his estate in a gated Calabasas community for $7.88 million. It was on and off the market for about three years until being sold recently by Calabasas real estate agents Marc Shevin and Rory Shevin. It had been relisted last year for $8.495 million, and was more recently priced at $8.25 million, according to records. (more…)
January 27th, 2016 at 10:00 am
Resolved to make 2016 the year you finally realize the American dream of owning your own home? It could happen.
Even with low housing inventory in many regions, and the Federal Reserve Bank’s recent ¼ percent hike on its benchmark interest rate, buying a home is within reach for many Americans. Of course, much depends on your financial history and ability to make the monthly mortgage payments. So if homeownership is at the top of your new year’s resolution list, here are 16 more resolutions that could help you achieve your goal:
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