Is it only the blogs that noticed a huge spike in interest rates over the last couple of weeks?
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Property type: Detached SFR
Square footage: 3000 square feet or more
Bedrooms: 4 or more
Bathrooms: 3 or more
Preferred enclaves in preference order: (1) Turtle Ridge, (2) Quail Hill, (3) Turtle Rock, or (4) Woodbridge
Specifications: (1) View or extremely well landscaped yard (similar to 111 Nighthawk), (2) Move-in ready, and (3) Plenty of natural light.
Price: 1.5 million or below—buyer is willing to pay fair market value based upon comparable properties
Sample properties: 1) 30 Canyon Terrace 2) 37 Tall Hedge 3) 37 Hedgerow 4) 111 Nighthawk
If you have a property meeting these specifications you would like to sell, please contact Shevy Akason at Evergreen Realty shevy.akason@evergreenrealty.net (949) 769.1599
(This is a compensated post)
The big news this week was the implosion of the Treasury market for 10-year Notes. The yield on these has a strong impact on mortgage interest rates. Mr. Mortgage discussed this in his recent entry, 5-28 - Potential Consequences of 5.5% Mortgage Rates. He walks you through all the implications of the mortgage meltdown. He then followed up with 5-29 - ‘The Day After’ the Interest Rate Spike. The bond markets rallied and the spike may be reversed, or this may be the end of low interest rates. The next two weeks will be critical.
You can find IrvineRenter on Twitter. I figured out how to get the IHB posts to automatically feed into it. So if you are into Twitter, you can follow the IHB there as well.
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There seems to be bullishness in the air. That tells me we are nowhere near the bottom. Bullishness equals denial; we must go through capitulation before this is over with.
I would like to share with you some interesting blog posts I read this week at The Housing Chronicles Blog,
SoCal home prices stabilizing? (I doubt it)
When will the housing market rebound?
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Prices rose in March in Orange County for the first time in nearly two years. Don’t worry, it won’t last. This is not the bottom, although several of our prominent local bottom-callers may come out and say so.
Asking Price: $1,279,900
Address: 57 Eaglecreek, Irvine, CA 92618
Read the rest of this entry »I would like to share with an interesting blog post I read this week at The Housing Chronicles Blog, and at the site of local realtor, Shevy Akason, who has been profiling properties at or below rental parity.
The newly immobile United States
I have asked Shevy to provide both a recently closed good deal in the area plus a property currently for sale. As he closes his deals, they will be featured as the closed deal. I have asked him for this to show (1) there are good deals happening in the market and (2) there are still properties available that make good cashflow investments. The currently available deal may not be a property he recommends for one reason or another, but it is illustrative of what can be found in the market if you look.
I was also particularly impressed by the article posted in yesterday’s comments providing some perspective on the financial mess here in the US: The Quiet Coup.
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As is becoming tradition, I would like to share with you some interesting blog posts I read this week at The Housing Chronicles Blog, and at the site of local realtor, Shevy Akason, who has been profiling OC properties at or below rental parity.
Apartment renters now getting caught up in foreclosures
Why is mortgage fraud still a problem?
Fannie Mae tightens rules on mortgages for new condos
Shevy’s deals:
In other news, IrvineRenter was mentioned on Portfolio.com on Wednesday: Six Bloggers of the Apocalypse.
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