Short-Term Interest Rates on the RiseLong Beach, California - In 2004, the Federal Reserve made it clear that short-term interest rates would be increased at a "measured pace" because of a fluctuating US Dollar, unstable oil prices and an evaluation of other economic indicators. In an effort to curb inflation, the Federal Reserve has kept its word and continued to raise rates, including one incredible streak of 17 consecutive hike announcements following meetings of the FOMC.  As a result of these interest rate increases, millions of homeowners with adjustable rate mortgages will feel the sting of corresponding increases in their annual adjustments. Consumers with revolving debt accounts tied to the prime rate have already felt the impact, as the prime rate always rides 3% above the cur... 12/21/2007

A Qualified Mortgage Consultant Can Help Boost Credit Scores Long Beach, California - Consumers interested in purchasing or refinancing a home will pay an interest rate based on current market conditions and their ability to pay back the loan. The borrower's income and debt ratios are taken into consideration by the lender, as well as the predictability factor provided by credit scoring. It's important to have a mortgage professional in your corner that has a keen eye for solutions to improving credit scores in an effort to get the best interest rate possible. Interest rates associated with various loan programs are broken down into schedules based on credit score ratings. While each lender has its own guidelines, it's safe to assume that as the consumer's credit score goes down, intere... 12/21/2007

  Model Your World  Thinking about remodeling your homes, kitchens or baths, considering a landscaping project, building a deck or any new project can be mind boggling. Just considering how to express your dream to the architect or contractor and knowing that you and they have the same vision can be a stressful experience.  The Google Gods have developed an absolutely great solution. It's a 3D modeling software, it's easy to learn, simple to use and best of all it is free. It's called Google SketchUp 6. Now before you start pulling your hair out, let these 4 autistic children show you how easy it can be.  Isn't that amazing and wonderful?  Google SketchUp also allows you to place your completed models into Google Earth using real-world coordinates and share them with the world using Goo... 12/20/2007

Long Beach, California  - Buying a home vs. renting is a big decision that takes careful consideration, as most mortgage consultants will agree. But the rewards of home ownership are great. For many years, purchasing real estate has been considered an extremely profitable investment. It is an achievement that offers a sense of pride, financial stability and potential tax advantages.Yes, there are certain responsibilities associated with owning a home. Landlords will often argue the benefits of renting, and for obvious reason. If you are renting, you're helping them make their mortgage payment. The numbers are staggering if you look at it this way. If you are paying $1,000 per month for an apartment, and you know your rent will increase 5% every year, then over the next five years you wi... 12/10/2007

Long Beach, Ca. - Taking the step into home ownership is one of the most important financial decisions a person will make in their lifetime. There are many factors to consider when embarking on this venture. Literally hundreds of loan programs are available, and it is important to find the one that best fits your personal long-term goals.First and foremost, you must have a mortgage consultant in your corner that is willing to take the time to know what your long-term goals are. Communication is the key factor here. Curious prospective home buyers sometimes turn to Internet-based services just to see what current interest rates are. But a faceless web site will not take the prospect's future financial planning into consideration or guide the potential borrower through the many nuances of... 12/09/2007

So often in our drive through, high tech world of information convenience, we find it almost puzzling that door to door salespeople even exist anymore.  If someone is knocking on your door it probably means that they are pretty motivated about the real estate business.  If you doubt that assessment, when was the last time a doctor, dentist, CPA, or attorney knocked on you door looking to provide you convenient service?I don't know about your neighbourhood, but here in Southern California, the only people that have ever knocked on my front door in the last ten years have been:  fellow Realtors, landscapers, contractors, Kirby Vacuum cleaner sales people, and; oh ya, the Jehovah Witnesses have made a few appearances.  I respect them all for their dedication to their ideas and outreach to ... 12/01/2007

Most people know that something is basically wrong with our economy. After-all, how can the price of gas go up over 26%, bread 16% and orange juice 28% in just one year?: Massive inflation.What the the American people are not told is that the inflation index does not use the wavering cost of food or fuel(these costs or considered too "variable"); therefore, the actual inflationary numbers reported are artificially low. If the government is claiming only 3-4% inflation, they are simply lying...forget about the domestic cost of goods for a moment. If you take the value of the American Dollar vs. the Euro over the last seven years, the dollar has lost over 9% a year in buying power compared to it's European counterpart.  This is a frightening devaluation of our currency. It means that the ... 11/29/2007

In this day of high inflation and the dropping value of the dollar, one wonders why should a borrower ever consider paying points to buy down the interest rate on their loan.  Let's consider that  a "discount point" is supposed to discount the interest rate that a borrower gets on their long term mortgage.  This equals paying less on a monthly basis for your mortgage. Let's make a generic example, let's say that a home buyer purchases a Southern California home for the price of $500,000.00 and puts down twenty percent or $100,000.00 so the loan amount is $400,000.00.  This conforming loan at a 30 year fixed rate of  6% would have a monthly payment of $2386.27/m.  If 6% is the "par price" to the banks then it represents the cost of money to the banks at the time of the loan.  If the borr... 11/25/2007

Sometimes the only way to buy a home and get a home loan  in our current real estate market is by getting the Seller to carry back a loan and essentially become the bank.  Now, we have to ask the question, why would the seller want to carry back financing?  The following will summarize why it may behoove the Seller to do just this:A).  The Seller can now actually sell the property.B).  The Seller can make money off the interest that he charges: similar to a bank.C).  The Seller can save or temporarily stave off paying income taxes on the sale by only paying taxes on the money that he actually receives(down payment minus closing costs) including the interest payments.D).  The Seller can resale the trust deed that was carried back to another investor when wanting to cash out of the mortga... 11/22/2007

With the advent of the on line loan application combined with the fact that most home buyers have less time to meet mortgage professional then ever, one begins to ask the question:  Are loan officers even necessary in the current market at all?Faced with the current credit crunch, many banks are cutting back in ways that don't make buying real estate any easier.  Many Wholesale Account executive Loan officers are being let go from major institutional lenders like Bank of America.  Entire divisions are being closed across the country in an effort to both squeeze out the mortgage broker and capture more retail business. This is not good for the consumer.  The more options the borrower has, the better off he will be. By cutting out the wholesale lending divisions of the banks, the boards o... 11/21/2007

Understanding that your cousin's Long Beach loan was a pointless loan has two different possible meanings:A).  Your cousin's borrowing had no meaning and he was basically burning through his equity without reason    (this is actually very common with Americans today, especially when given such an example by the American Government).B).  Your cousin opted for a "no point" loan program, which means he is probably paying too much interest on his current mortgage debt(this is also very common with Americans today, especially with the American Government's infinite payments on our National Debt).  The Truth about Origination Points:  Quite simple said, this is how a lender makes money, by charging points and fees.  For example, if you had a $100,000.00 loan and were going to charge a client ... 11/20/2007

Today, November 14, 2007, The Press Telegram, a widely read Local Newspaper in my opinion, is guilty of using scare tactics to grab headlines for the sake of selling advertising..  If any Realtor did that, we would be guilty of Stearing, Block Busting.  We could lose our Real Estate license and perhaps worst....  I think the Newsmedia has a Responsibility to report the news, but it also has a responsibility to acurately separate the National Headlines, especially if it's going to affect a fragile industry. Which affects more than the real estate community, it affects many walks of life. As you read, further into the story, according to NAR, we should see some headway in 2008, which is around the corner.  With FHA coming to the forefront again, helping many low to moderate income home bu... 11/14/2007

LONG BEACH REAL ESTATE       Selling YOUR Long Beach Home?    It's TOUGH out there!   Are YOU ready for this Real Estate Market?    Today's Long Beach Real Estate market is demanding an entirely new approach when selling your Long Beach Homes or Condos.  If your home is on the market you already know just how tough it can be to just get showings.  You have probably reduced your price at least once and are wondering how low you will have to go to actually make that elusive sale.     PRICING YOUR LONG BEACH HOMES OR CONDOS   The worst mistake a seller can make is to overprice their Long Beach Home.  The first two to three weeks on the market are critical when you enter the market.  Thinking that you can test the market and lower the price later is never a good idea.  The goal should be to... 11/10/2007

Ocean Blvd, in Long Beach California, has been known for quite some time as strip for luxury high rises.  With some pricing pressure in the luxury high rise market it now looks to be a time where buyers can roll back the prices and get a condo with an Ocean view.When looking for a high rise condo on Ocean Blvd you will have some different options to consider.Historic High rises - The Villa Riviera ("the building with the green roof") is a popular landmark on the corner of Alamitos Blvd and Ocean.Luxury High Rises over 10 years old - Buildings like the Pacific and the Ocean Club may have been built prior to 2000 but they have not lost their appeal.  Prime locations and great floor plans make these popular choices.New Luxury High Rises - These structures were built after 2000 and have man... 11/10/2007

 "Good things come with hard work."  Coach SeymourForget the $200,000.00 wedding, Elope! Elvis is waiting for you and so is your first home.Now matter how you cut it, nothing is free in life and those who understand the value of hard work will always do well...Generation Y is learning that getting married is an expensive proposition.  Yes, that generation that tends to take everything for granted, you know what I mean:  Instant computer access, information overload, cell phones, I-pods, and shot gun weddings?  It's almost impossible in California to get married for under $20,000.00 and for a modest affair it may easily run over $50,000.00.    I recently went to an extravagant wedding in Los Angeles that cost nearly $200,000.00 and frankly I was shocked because I knew how broke the groom... 11/08/2007

As you are researching Long Beach neighborhoods, it can sometimes seem difficult to know where all of the boundaries are.  We have created a map on MSN that defines the different neighborhoods in Long Beach.  While our sites dedicated to Long Beach Condos and have more information, we wanted everyone to be able to start seeing the neighborhoods in the map format as well.On MSN maps you can start to see the neighborhoods within Bixby Knolls down to Belmont Heights.  Have fun learning about the different neighborhoods and what is possible so you can find the best fit for you. 11/07/2007

Hello Activerain Community, you guys are truly a brain-trust for whom I have the deepest respect, this short film(only 10 minutes) says a lot  about our current economic situation:  http://www.youtube.com/watch?v=zmyvEhU-gmwIt summarizes the current fall of the value of the dollar.  It is true that no country in the history of mankind has been able to survive on a currency that was not backed by a solid medium including gold, silver, sea shells or which ever commodity the elders of the tribe chose that was limited in supply and desirable and convenient to keep.Real estate seems to be one of the safest havens against inflation in that no matter what the government does to the value of a dollar, real estate still has a basic utilitarian value that does not lose value.  In other words: you... 11/02/2007

                                                Laurie Manny Long Beach Realtor®   Prudential California Realty Long Beach California     (562) 212-5420   (714) 376-9550 lmanny@socal.rr.com Long Beach Real Estate Home Blog 11/02/2007

Some areas still show low inventory.  Despite the media's insistence that there are homes available as far as the eye can see there are some neighborhoods that still don't have many choices to offer.  Today as we were reviewing the Long Beach homes that are available we went through the neighborhood of La Marina Estates.  This area, located with Los Altos, is extremely popular and inventory is traditionally low.  After going up and down many of the streets in the neighborhood we still had yet to see a for sale sign.  The closest sign we observed was that of a home for lease.So what gives?  This is just an indicator that real estate is local and that when determining what the health of an area is, it is important to look at data from as many sources as possible.  Looking at data provided... 10/31/2007

The National Association of Realtors and the California Association of Realtors (NAR/CAR) both agree that the Internet is here to stay.  That 80% of the public view the Internet when they are interested in purchasing a home for themselves.  That's absolutely correct.Here is what I preceive as a problem for the real estate industry as a whole.  The Internet and the computer are fabulous tools to search for information.  I myself, use the computer for many things when I want information.  I am a dinosaur.  I've been in this business, which is one of the greatest professions to help people reach for their dreams.  The Problem of today is that the Internet does not know how to close.  It can't build the relationship that is needed to literally ask for the order that makes logical sense, yet... 10/30/2007