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Market stabilization.

by Rob Zwemmer

Monday, march 30 2009

 

By Rob Zwemmer

www.desertonline.com

 

 

Good Monday morning                                                                                        

I was reading an interesting article in the desert sun last week and I wanted to share that with you.

Home sales jumped  70 percent in the Coachella Valley  in February over the same period a year ago, a continuation of a trend that one analyst says might indicate a market stabilization.

The high volume of sales — while spurred by dismal economic conditions that caused prices to fall drastically — indicates the market is repairing itself, said Greg Berkemer, executive director of the California Desert Association of Realtors.

“There are good values,'' he said. “buyers are taking advantage of them in increasing numbers.”

 “We are now in the third consecutive month in the desert with year-over-year sales increases,'' Berkemer said. “While we still won't say the market is turned around, and is headed back, we see what could be the beginning of a legitimate trend.”

If the trend continues, Berkemer said the association might be able to say with assurance that the market has turned, and that price reductions have bottomed.

To have direct access or to get instant e-mail alerts when a new property hits the market visit http://www.FindMydesertHome.com.

If you would like to search our local data base of homes for sale  http://www.desertRealEstatePrices.com.

If you are looking to sell your home and need a comparative market analysis http://www.desertCMA.com.

 

Palm Springs Area Mortgage Market update!

Wow!  What an extremely exciting week recently passed!  Rates are at an all-time low! Home buying and  Refinances are happening! 

 

New Loans are totally available.  Banks want to lend and there’s no better time!  Home values are accurate, income is verified, and with a small down payment you are in business  There has been no better time for banks to lend for homes.

 

Mortgage Rates Today +/- Last Week
30 yr fixed mtg Graph the three month trend 5.03% 5.06%
15 yr fixed mtg Graph the three month trend 4.79% 4.76%
30 yr fixed jumbo mtg Graph the three month trend 6.42% 6.47%
5/1 ARM Graph the three month trend 4.79% 4.74%


E-mail me with any questions you might have

 

Have An Awesome Week!

Rob Zwemmer

 


AND HERE'S YOUR MONDAY MORNING COFFEE!!

http://www.desertonline.com/Morning-coffee

 

 

"If your riches are yours, why don't you take them to t'other world?"
~ Benjamin Franklin

LEAVE A LEGACY!

In one of William Bennett's books, he tells a story about Ben Franklin's death. It seems that old Ben made a special gift in his will. In it, he left 1,000 pounds to the cities of Philadelphia and Boston with specific instructions. They were to set up a program of loans to young men under the age of 25, married, and who had successfully completed an apprenticeship, needing startup money for a trade or business. The money was to be loaned at 5% interest. The loan program was to continue for 200 years.

At the end of 100 years, the two cities were to withdraw $100,000 each for public projects, and continue lending the balance as stated above. At the end of 200 years, the fund was to be split between Philadelphia, Pennsylvania, Boston, and Massachusetts. In the year 1990 there was $6,500,000 in the fund. For 200 years, Ben Franklin helped young men get started in business by making those funds available, and had $6.5 million left over.

Just think of the many ways you and I could benefit our families, the community, or the lives of total strangers if we just took the initiative exhibited by Ben Franklin. By setting up a similar fund that earns just 5%, it would contain $17,292,581 at the end of 200 years. The purpose could be educational loans for family members.

Set aside $1,000 now and add just $100 per month to it for ten years, earning 5% on loans made from the account, and the fund would have $17,157. After the ten-year period of adding $100 per month, no more money is added and it continues to be loaned at 5% for the next 190 years. At the end of 200 years, the fund would contain $181,141,192. At that point, it could be converted to an outright "grant" program to which family members could apply for education funds.

Instead of focusing on just your immediate family, think about the legacy you could leave by planning much further into the future. Thanks to the "future value of money" concept, you could provide valuable support to many future generations. It's just a thought, but why couldn't we give it a try?

Monday, February 16 2009

 

By Rob Zwemmer

www.desertonline.com

 

 Good Monday morning                                                                                        

78°F | 52°F

Two weeks of Tennis tournaments at the Indian Wells Tennis Gardens brought a new boost to the desert economy.

The Indian Wells tennis tournament is the 4th largest tennis tournament in the world and brings in about 500,000 visitors over two weeks. This gave the local retail and the housing market an extra boost to jump start 2009.

I’ve had many requests for information regarding the tax assessor’s office and lowering your property taxes for home owners here in the desert. I recommend you send it certified mail so they know it was received.  To learn more how to lower your property taxes and to download the application visit:

http://riverside.asrclkrec.com/ACR/INprop8.asp   

You might be saving thousand of dollars in property taxes each year!

 

To have direct access or to get instant e-mail alerts when a new property hits the market visit (click here).

If you would like to search our local data base of homes for sale  (click here).

If you are looking to sell your home and need a comparative market analysis      (click here).

 

Palm Springs Area Mortgage Market update!

FHA Financing Update:

New loan amounts are supported and available to lock at $500K.

The down payment requirement is still at 3.5%.

Minimum Fico score to be 620

 

The biggest difference you all need to know about is the appraisal requirements.

For all loan amounts above $417K, and have a LTV greater than 95%,

will be required to have 2 appraisals.  The best way to avoid a second appraisal we can have the buyers put 5% down.  If they want to do the second appraisal this can be done too.  This is a FHA requirement.

 

 

 

1 Canadian dollar = 0.80952 U.S. dollars



E-mail me with any questions you might have

 

Have An Awesome Week!

Rob Zwemmer

 


AND HERE'S YOUR MONDAY MORNING COFFEE!!

http://www.desertonline.com/Morning-coffee

 

 

 

FEELING STRESSED? 03/23/2009

by Rob Zwemmer

INSPIRATION FOR TODAY:

"If you take too long in deciding what to do with
your life, you'll find you've done it."
-George Bernard Shaw

"Before enlightenment - chopping wood, carrying water.
After enlightenment - chopping wood, carrying water."
- Buddha

FEELING STRESSED?

Oh - the frustration of it all. The first quote for today deals with the importance of having direction - goals - in your life. You know - we've all heard it for years - our life will be happier, more prosperous, more meaningful if we have a plan, know where we're going, and work systematically at getting there.

If you've tried to do that, you've undoubtedly met with a great deal of frustration along the way. It's like the expression "Life is what happens to you while you're planning other things." No matter how hard you work at your plan, there are those constant interruptions that get in the way, and make it seem so difficult. You are not alone.

As important as the first quote is, think about the second one. A modern paraphrase might go like this: "Before setting and achieving your goals, and having control over your life, your days are filled with trivia, interruptions, hassles, disappointments, family responsibilities, etc. After working your plan and achieving all your dreams and goals - your life is filled with trivia, interruptions, hassles, disappointments, family responsibilities, etc."

Taking control of your life can result in great personal satisfaction, provided you understand it does not bring you to perfection. Intertwined in our desire to achieve peace, success, and enlightenment, there is still plenty of wood to chop and water to carry. The day-to-day responsibilities of life do not disappear. We simply gain the strength to bear them more readily - and with a smile.

So - carry on with your plans and your dreams. They are vital to a great life. Yet remember the words of Jules Renard, who said, "There are moments when everything goes well; don't be frightened, it won't last."

Palm Springs Real Estate Podcast - March

by Rob Zwemmer

Palm Springs Real Estate Market Podcast Palm Springs Real Estate Podcast - March

Tax Credit for First Time Home Buyers, in the Palm Springs Area.

by Rob Zwemmer & Real Pro Systems

Tax Credit for First Time Home buyers, in the Palm Springs Area.

Tax Credit is available for first time buyers purchasing a new or existing home between Jan 1 through December 1 2009,and a large number of people are taking advantage of this incredible opportunity. 

Even though it's called a "First Time" homebuyer tax credit, many people actually qualify.  According to the plan,a first time homebuyer is defined as a buyer who hasn't owned a principle residence within the past three years prior to purchase. 

So, if you've owned a rental, or part of a vacation home -- but haven't owned a principle residence during this time -- you are still eligible.

The tax credit is equal to 10% of the home’s purchase price, with a maximum credit of up to $8,000.  The full tax credit is available to single buyers making up to $75,000 annually, or married couples claiming income up to $150,000 on a joint return.  The amount of tax credit you can claim is reduced if your income falls between $75-95,000 individually, or between $150-$170,000 for couples filing jointly.

What's unique about this tax credit compared to the one we saw in 2008 is that this tax credit does not have to bepaid back, AS LONG AS the buyer stays in their home for three years from the recorded purchase date.

This is different from the 2008 tax credit because that one had to be paid back over time.

The tax credit stimulates our housing markets and jump starts the economy. In essence, the government is paying 10 percent of your purchase to help you live the American dream.  This is a once-in-a-lifetime opportunity
for many homebuyers, and it's available for a very short time.

However, I should point out that if the buyer sells the home within the three year widow, the $8,000 will be recaptured and paid back to the government, making it more like an interest free loan.

To learn more about this great incentive, give me a call or drop me note.

Thanks

Rob Zwemmer

Keller Williams Realty

Monday Morning Palm Springs Real Estate Market Update 03/02/2008

by Rob Zwemmer
Keller Williams Realty


Good Monday Morning,


Some good news from Reuters, as they released the results of a survey of 47 professional forecasters, predicting that the economy will begin to recover in the second half of this year. Additionally, the Chicago Purchasing Managers Index was better than expected, and being a forward-looking indicator, gives another bright spot of hope down the road.

Last week when I was on a convention in Orlando, FL. I was selected to become a member of  Keller Williams Luxury Devision.  This is a small group of professionals (150 from the 75.000 Keller Williams agents). More Info. www.KWLuxuryHomes.com  and make sure to check our new Luxury Home site for the desert at www.DesertOnline.com

To get a Daily Email List of Homes For Sale As They Hit The Market www.FindMyDesertHome.com


Do you know what your home is worth in today's market?
It helps when you have recent market data at your finger tips! http://www.DesertCMA.com.


 

Mortgage Market update!

Rates continue to be volatile, but are still at historically low levels.
Check out  4.125% - 5 year Fixed money – LOW!! 

Conforming & FHA Loan limits have been increased to 500K for the rest of 2009.
The bad news is that these agency jumbo loans are not yet available in the market place.
So we don’t know the pricing or stipulations yet, but I will update you with more as it unravels.
FHA & VA has also just raised its minimum fico score requirement to 620.

Despite the negative news, Bonds and home loan rates were not able to make improvements over the course of the week, and ended a bit worse than where they began.

1 Canadian dollar = 0.778574 U.S. dollars

Mortgage Rates Today +/- Last Week
30 yr fixed mtg Graph the three month trend 5.22% 5.27%
15 yr fixed mtg Graph the three month trend 4.84% 4.96%
30 yr fixed jumbo mtg Graph the three month trend 6.91% 7.10%
5/1 ARM Graph the three month trend 5.08% 5.60%


And here is Monday Morning Coffee
http://www.desertonline.com/coffee.asp
 

Have An Awesome Week!

Rob Zwemmer

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