RECOVERY, BIT BY BIT

January registered a statewide rise in home sales from a year ago in some measure due to the Bay area, the highest Jan. in 5 years. Investors, again, jumped in to snap up bargains. Markets are expected to further stabilize once the gov’t/state settlement with 5 major banks kicks in, likely the second ½ of 2012. Though the agreed $ amount to modify loans or decrease principal is modest, it augments a better job market, increased manufacturing and a Greek bailout (a first step), all recovery directed, bit by bit.
Meanwhile, as California real estate prices remain low and interest phenomenally low, we hope families, as well as investors, will participate in available bargains. Call me, Michael, anytime for loan information and a free credit report. In Los Angeles, tune in to Toni Patillo on KTLK Radio AM 1150, Saturdays, 3-4 PM. We partner in the show featuring topical discussions by loan and real estate professionals, valuable information for homeowners and those in the market to purchase.

Apocalypse? No!

The economic “glass half-empty” bears are denied by virtue of US bootstrap, though modest, growth. GDP is predicted to reach 4% in 2011’s fourth quarter and onward. Capital goods orders, industrial production and exports rise. Labor markets improve. Housing construction is reviving as the deflated bubble, time and demand show real estate stabilizing. Isn’t time to cash in? California real estate is rife with good buys, financeable at record low interest.
This is a “once in a lifetime” opportunity to purchase or refinance a home. Prices have leveled and interest is historically low. The astounding difference of one interest point over the term of a mortgage is often overlooked. Call Michael for a consultation regarding a potential loan or refinance. He will crunch your numbers and of course, it’s free and without obligation.

Baby Steps

BABY STEPS
Signs of hiring are positive and unemployment claims fell for the 4th time in 5 weeks. Modest job gains appear in transportation, warehousing, retail trade, manufacturing, health care and mining. US innovation streams ahead as water-tight cell phones and ever slimmer tablets beckon to excite the world’s appetite for new generation technology. Meanwhile, California real estate slumbers, but for credit worthy buyers, outstanding purchases are out there for the taking.
Outstanding, literally once in a lifetime interest rates, will save tens, even hundreds, of thousands of dollars over the term of a mortgage. Call Michael, any time and without obligation, with your financing or refinancing questions.

2012

As this year begins, we anticipate a steady, albeit modest, economic recovery including the housing market.
The government is supporting historically low interest making this a “once in a lifetime” opportunity for credit worthy buyers to purchase a home. We think prices have leveled, but even a 5-10% drop would be more than compensated by interest saved compared to average rates of the past 50 years. Call Michael DiVita any time to discuss the specifics of financing or refinancing your home, no obligation, of course.
Happy and prosperous New Year to all our friends in the California real estate market.

THE GIFT

For the 4th straight month, the unemployment rate dropped in California signaling a modest recovery. Job growth leads in technology, trade and tourism, followed by education, health, information and motion picture production. Small businesses are on the rise and many of the unemployed have become working independent contractors. Leading the expansion are San Jose, San Diego and San Francisco. The Los Angeles lifestyle still beckons as technology startups have begun to cluster in Venice, now unofficially dubbed Silicon Beach.
In this holiday season, we celebrate the gift, the indomitable American spirit.
Good health and good wishes from the DiVita Home Finance Family to yours.