Interest Rate Update–friend of the show Otto Kobler with latest rates.

Allison and I always state the first step for a prospective home owner is to get qualified for a loan! We recommend many great lenders on our weekly radio talk show. Here are rates from friend Otto Kobler of Summit Funding. Up just a tick. But spectacular nevertheless!

Mortgage Rates for May 27, 2016

FIXED AND ARM CONVENTIONAL PROGRAMS RATE         APR
30 Year Fixed Conventional 4.000%      4.165%
15 Year Fixed Conventional 3.125%      3.265%
5/1 LIBOR ARM Conventional 3.125%      3.213%
7/1 LIBOR ARM Conventional 3.250%      3.303%
JUMBO PROGRAMS ($417k +) RATE          APR
30 Year Fixed 3.750%       3.967%
15 Year Fixed 3.375%       3.134%
5/1 LIBOR ARM 2.750%       2.847%
7/1 LIBOR ARM 3.000%      3.161%
 
FHA/VA FIXED PROGRAMS RATE          APR
30 Year FHA/VA 3.500%      4.647%
15 Year FHA/VA 3.250%      4.660%

Assumptions include: 1% origination point and 0% discount fee, 20% down payment (Conforming), 25% down payment (Jumbo), Escrows required (if not escrows, higher fees may apply), purchase transactions on primary residence, 30 day closing, debt to income ratio <=40%, full documentation of income/assets.  Conforming rates based on loan amounts greater than $200,000.  Minimum Fico 740 Conventional – 640 FHA/VA. Other Programs, Loan Amounts, Credit Score and Down Payments are available. Call for details!

Note the rates ticked UP by 1/10th of a percent! Ooops! There goes the market!
Note the rates ticked UP by 1/10th of a percent! Ooops! There goes the market!

Tom Havstad, Permit Consultant Extraordinaire, Joins The Real Estate Hour This Sunday.

  • Cpermithanges at the PRMD (Sonoma County Permit Department),
  • Changes to the Vacation Rental Ordinance,
  • And, what about those Un-permitted repairs and alterations when you go to sell your house! These topics and more will be discussed with Real Estate Hour favorite, Tom Havstad.

Tune in..have a little fun…and, learn a lot.

profile pictureTom Havstad; Long time local Sonoma County Permit Consultant and property owner advocate.  Tom Brings a wealth of knowledge to the Real Estate transaction, and to homeowners just trying to sort things out.

Cell:707-695-0857  Office:707-874-2078 Email:havstad@sonic.net Online at: Permit-Help.com

house-blueprintPermit Consulting Services for Sonoma Marin and Napa – Permit Consulting Services offers professional assistance at your building department. We know the process and we will advocate for you. Our expertise comes from decades of experience in all phases of plan and permit processing.

You may need help with building or zoning permits, or you may just need to understand what permits were taken out for work done in the past. If you need plans drawn in order to pull a permit, we can do those for you also. We’ll handle the whole process, start to finish, or we’ll coach you through it. And you can believe this, it’s not getting any simpler. You’ll save time and money by getting a professional on your side.

Continue reading Tom Havstad, Permit Consultant Extraordinaire, Joins The Real Estate Hour This Sunday.

The Probate Process, New Deed for Transfer Upon Death, and more…Attorney Roy Johnston Joining Allison on the Show Sunday May 15

Roy joined us and discussed trusts, wills and probate. Interesting and timely show.
Roy will join us and discuss the new Revocable Transfer on Death Deed, trusts, wills and the probate sale process. Interesting and timely show.                                                                     .

Attorney Roy Johnston joins Allison again to discuss an interesting, and slightly frightening (because it’s way too easy) way to take title to a property in California; The Revocable Transfer on Death Deed. Roy will explain the good and the bad.

Additional topics to include, the Probate process for the sale of real estate, and how to avoid probate all together. There are several different types of probate sales; Those with no court confirmation required, and those with court confirmation, and then there’s the somewhat confusing over bid process.

 

Johnston | Thomas Attorneys at Law
1400 N. Dutton Avenue, Suite 21
Santa Rosa, CA 95401                                                                                               Phone: 707.545. 6542
info@johnstonthomas.com

Real Estate Show….05/15/16—Guest Ron Johnstone

This week–the lovely and talented Pete Phillippe Joins us! Talking Interest Rates!

Our "Loan Guy" Pete Phillippe
Our “Loan Guy” Pete Phillippe

We are delighted to have on old friend of the show Mr. Pete Phillippe in studio this Sunday for Mother’s Day. Pete and I go back many years and no finer lender will you meet. We’ll be talking up interest rates and see what the folks over at US Bank have in the way of interesting products. Email Pete for all your lender questions.

Peter.Phillippe@usbank.com

On this week’s show: April Sales and Market Activity–Flat, lack-luster here in Sonoma County.

Here are Sonoma County April Sales information. Big take-aways? Lack of inventory but increasing, Median home price up “only” 6% over last year. 1.5 Month’s Supply of Inventory (4-6 months is considered “normal”.

MSI

Average Days on the market is a remarkable 42 days. Note how this number has been dropping. Blame low inventory and big Buyer demand due to historically LOW interest rates in the upper 3% range.

AverageDOM

Homes for sale by month is down -10% over last year–c’mon–let’s get those homes on the market!

ForSaleProp

New properties coming to the market is down slightly.

NewProperties

Indicator of future activity is the “Under Contract” properties down -5% over last year. Hmmmm?

UC

Sold Properties by month is down -13%. This with historically low rates? Price wall happening?

SoldsMay

Median Home price shows dramatic slowing of higher price activity.

Medianhomepricemay