DiVita Home Finance, Inc. by Michael DiVita

RECOVERY, BIT BY BIT

Mike DiVita — Wed, 22 Feb 2012 21:02:54 +0000

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!

Mike DiVita — Wed, 18 Jan 2012 00:20:12 +0000

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

Mike DiVita — Tue, 10 Jan 2012 15:50:33 +0000

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

Mike DiVita — Thu, 05 Jan 2012 15:23:12 +0000

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

Mike DiVita — Tue, 20 Dec 2011 17:06:18 +0000

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.

CALIFORNIA REAL ESTATE – BARGAINS FOR THE LOOKING!

Mike DiVita — Fri, 09 Dec 2011 16:36:47 +0000

The price of California real estate remains lower by 30+% with distressed property sales making up ½ of the market. Just as times past, bargains exist, and we may wish someday we had uncovered them. When inventories are depleted, prices will naturally rise and economists expect a 3-4% rise in 2012. Regardless, savings on a mortgage at these historically low rates are exponential. Call Michael to translate that statement into real numbers on a property you currently own and wish to refinance or plan to purchase. With over 30 financial affiliations, he is uniquely placed to procure the best loan for your needs.

CONGRESS UPS FHA LOAN LIMITS

Mike DiVita — Fri, 02 Dec 2011 16:26:10 +0000

Congress raised FHA loan limits to $729,750, leaving Fannie and Freddie untouched at lower caps. This impacts pricier markets such as California. With down payments as low as 3.5%, the Federal Housing Administration is poised to become a premier lender at least until the end of 2013 when the legislation expires.
This week’s economic news also includes lower unemployment apps and larger than anticipated Black Friday retail sales. It seems the much feared double dip recession is not imminent. And there may never be a better time to buy a home. California real estate discounted 30+% plus historically low interest equal exponential savings over a 15 or 30 year fixed mortgage.
Call Michael for any and all loan questions, either for purchase or refinance. He will gladly answer your questions. No obligation, of course.

INTEREST, THE HIGH AND LOW OF IT

Mike DiVita — Tue, 15 Nov 2011 15:09:02 +0000

Credit worthy borrowers will pay 3.75% for a 30 year fixed rate mortgage. Compare that to a student loan on average 4.5%; a car loan, 5.3%; and a credit card loan at 13.7% fixed. If you are considering the purchase of a home, the juxtaposition of reduced prices and record low interest create opportunity to make that happen now.
Call Michael for loan preapproval and a free credit report. That puts you in a buyer’s position if you find a home of interest in the CA real estate market. Ask about 3.5% down FHA and no down VA loans.

WHAT A DIFFERENCE A POINT MAKES.

Mike DiVita — Thu, 10 Nov 2011 16:03:45 +0000

Interest rates are down to 3.75%. Just five years ago, you would have been lucky to get a 30 year fixed rate mortgage at 5.75%. Here’s the math. Each ½ point is 11%, so 2 points equals 44%. That’s 44% of your total loan or $176,000 savings on a $400,000 loan, for example. Couple this with the 30+% drop in California real estate prices on average and you have an excellent home buying opportunity.
And there has never been a better time for homeowners to refinance. Call Michael for a free, no obligation, re-examination of your loan. Even if you have refinanced before, it may pay to do it again.

THE GOOD OLD DAYS

Mike DiVita — Tue, 01 Nov 2011 20:27:09 +0000

The housing price index edged up despite declining values of homes in foreclosure and rising values of other homes. California real estate is a market of disparate neighborhoods in which many excellent buys may be found today from our beautiful coastal cities to our fertile inland empires.
Call Michael for mortgage or refinance. He has affiliations with over 30 financial institutions from large national to local boutique banks. Interest rates are lower than most of us have seen in our lifetime. Even if you have refinanced before, it may pay to do it again. Ask Michael to run your numbers. There’s no cost or obligation.
Will we one day look back and count these as the good old days?