Mathews Associates

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Archive for January, 2010

California posts nation’s largest foreclosure total in 2009 – Los Angeles Business from bizjournals:

Posted by Dwight Mathews on January 26, 2010

Considering the fact that California was the testing ground for some of the nations most creative financing/mortgage products, is it any wonder why we had the highest foreclosure totals in the country.

California, Nevada, Arizona and Florida have been the big four states that have seen most of the headlines over the past couple of years when we talk about foreclosures.  With no end in sight, I’m sure we will continue to be the talk of the town for a few more years! It took almost 5yrs for the California Real Estate market to fully recover from the previous  market cycle recession back in the late 90’s.  It’s important to note here however, that over the past four Real Estate cycles, California has led the way to recovery,  for the rest of the nation.

SO WHAT ABOUT THIS TIME AROUND?

Well,  if your in the trenches and on the street like me,  you should already know that a recovery has already begun.  Of course that doesn’t mean necessarily that the good old days are imminent and coming back anytime soon.  I think we are all too smart and know by now that, that won’t be the case this time around.   However, sitting on the fence and waiting for better times to give you a sign,  in my professional opinion is the worst thing you can do right now.

THE TIME TO BUY IS WHEN NOBODY ELSE WANTS TO!

That’s exactly what many Smart, Savvy Buyers and Investors are doing right now!   Today’s Real Estate Market will go down in History as the Greatest Buying Opportunity Ever!   Will You Wait?  or Will You make a decision to ACT NOW!  I’d like to hear your opinion.  What is your Crystal Ball telling you  about the future of the California,  Real Estate Market?   Leave a comment-tell me what you think.    You can read the entire LA. Bus journal report below.

ia California posts nation’s largest foreclosure total in 2009 – Los Angeles Business from bizjournals:.

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Southern California housing market strengthens in December

Posted by Dwight Mathews on January 22, 2010

Rock bottom interest rates and stronger sales in higher-priced neighborhoods helped Southern California’s housing market post robust gains in the typically sleepy month of December, new data shows, and experts say the momentum is continuing-ushering in an early start to the spring home-buying season.

The median price paid for a Southland home rose 4% to $289,000 last month from December 2008, the first time the closely watched figure has posted a hear-over-year gain since the region’s real estate market took a nose dive 2 1/2 years ago, according to data released Tuesday by MDA DataQuick, a San Diego real estate research firm.

The increase in December home prices follows a dismal 2008.  Even with the rise, the median price was still 42.8% lower than its $505,000 peak during several months in 2007.  To continue reading the entire article in the LA. Times you can click on the link below.

After you read the article below, stop back by so you can read my next post about how the Baby Boomers and Investors will be the dominate players in rescuing the Real Estate Market in 2010-2011!    See Ya Then.  Dwight (Matt) Mathews 909.790.8196 ‘HIRE ONE FOR YOUR SIDE”

via Southern California housing market strengthens in December – latimes.com.

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Central Bankers Divided on Future of Mortgage Purchase Program

Posted by Dwight Mathews on January 12, 2010

Real Estate practitioners, mortgage investors, and even some federal officials have express concern that rates will go even higher when the U.S. central bank stops buying mortgage securities early this year.  According to minutes released this week, of the Federal Reserve Board’s closed-door December meeting, Fed policymakers have already begun debating whether the program should be extended, to ensure the already-fragile housing recovery maintains it’s course, but the decision has left a dividing line down the central bank boardroom.

The Federal Reserve has said it will end it purchases of mortgage-backed securities (MBS) from Fannie Mae, Freddie Mac, and Ginnie Mae on March 31.  Many argue that it’s too soon to end the program, fearing that mortgage rates will shoot up and demand for home purchases will falter.

Over the past year, the U.S. central bank has purchased nearly 75 percent of the mortgages that Fannie, Freddie, and Ginnie have securitized.  It currently holds just over $900 Billion of these MBS bonds, and says by the time the program ends it will have bought a total of $1.25 Trillion.

It’s obvious to me that no matter what they decide,  Mortgage rates are headed higher.  This program also ends about the same time as the extended Tax credit buyer program.  I think between now and March, the Fed’s will once again revert back to bail-out mode in order to keep stability in the market.

All I can add at this point is that if you have been waiting for a more opportune time to purchase a home or Investment property-This is the time to put on your Smart-Savvy Hat and make an offer! Mortgage rates will never be this low again for a long long time.  For a Free Consultation and personal profile valuation please call my office or send me an email.  909.790.8196/ READVISOR@verizon.net.

Click below to view the latest  DS. News report!

via Central Bankers Divided on Future of Mortgage Purchase Program.

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