22nd Wednesday May 2013

60 Second News: Los Angeles Real Estate Scoop

Written by: Vanessa
Comments: 0
Category: Real Estate Bits
All this and you paint the walls any color you want

All this and you can paint the walls any color you want

Cold, Hard Cash Purchases Hit Record High
I knew it was high and now we’ve got cold hard numbers. Last year, a whopping 32.4% of all home sales in California were cash purchases. While cash offers are relatively common, this is twice the usual rate of about 15%.

30-Year Mortgage Rates Rise
Mortgage rates ticked up twice to 3.51% in the last few weeks from the record low of 3.35%. Suggesting a stronger, more confident market, purchase home loans rose to 42% last month from 27% in January 2013.

New Home Buyer Workshop
Tinkering with the idea of becoming a homeowner? On Sat. 5/25, check out the Endeavor to Achieve Homeownership. Exhibitors from mortgage lenders to home inspectors will be on hand to show you the ropes. Best part? It’s FREE, but you’ll need to pre-register.

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