Current Placer County Market Trends

The above graph is a large-scale overview of market trends report for all of Placer County over the past five years. As you can see...

Monday, October 28, 2013

Property Spotlight: 898 Courtyards Loop

The Montuori Group is pleased to present another fine property: 898 Courtyards Loop in Lincoln.
Located in the desirable Courtyards neighborhood of Lincoln, CA, this property is back on the market at $249,000 with newly installed large tile flooring in the kitchen and dining areas.
The Courtyards community features tons of benefits including high speed internet included in HOA fees, the secure comfort of gated community, and a spa and luxurious recreational facilities.

To view this property contact Realtor Bob Montuori at (916) 698-1171 or by email.

Friday, October 25, 2013

Current Placer County Market Trends

The above graph is a large-scale overview of market trends report for all of Placer County over the past five years.

As you can see, inventory is remarkably low as compared to previous years.  This low inventory level means that it could be a very lucrative time to sell.  There are plenty of buyers but not enough homes!

For information about selling your home, or to consult about the best strategy to reach your real estate goals, give local Realtor Bob Montuori a call at (916) 698-1171 or email and he'd be happy to help.

Wednesday, October 23, 2013

NAR President: Super Size It

By NAR 2013 President Gary Thomas

If you're considering how nice it would be to own a larger home, this may be the time to buy.

For the first time in history, interest rates on jumbo mortgages actually fell below the interest rate of conforming 30-year fixed-rate loans.

As Realtors well know, jumbo loans are those over the local limit that can vary from $417,000 to $729,750, depending on the county.

Traditionally, consumers who needed a home loan bigger than a conforming mortgage would pay a higher rate of interest for the privilege of borrowing more money - often a quarter of a percent or greater, and for a brief period it was nearly two percentage points.

But with mortgage rates much higher than a year ago and declining profits from refinances, banks have become more aggressive in pricing mortgages.  As a result, it is now cheaper to borrow in the jumbo market which is currently dominated by private lenders.

With interest rates at historic lows, more buyers are willing to stretch to buy bigger properties and more buyers are able to qualify for a jumbo loan.  But even non-jumbo home buyers should look into the competitive rates at banks and credit unions.

There's no telling how long it will continue, but this unusual circumstance may offer an opportunity for Realtors.  Think big!

See the original article here.

Friday, October 11, 2013

Open House: Saturday, 10/12 Noon - 3:00

Open house this Saturday, October 12th from 12:00 pm to 3:00 pm at 881 Courtyards Loop in Lincoln. This property is being offered at $329,000 and features too many amenities and upgrades to list including a chef's kitchen, custom flooring and lighting, and a pool, spa and recreational facilities.

Friday, October 4, 2013

Government Shutdown Slows Application Process

By Neil J Leitereg

Fixed mortgage rates fell for the third consecutive week.  The federal government's shutdown and ongoing recovery concerns, particularly the Fed's decision to continue its bond-buying stimulus program, are attributed to the recent decline of key mortgage loans.  The drop in rates comes after averages spiked by more than a percentage point since early May.

The average rate on a 30-year fixed mortgage loan dropped 0.10 percentage point this week, according to the latest survey from mortgage buyer Freddie Mac.  After trending at 4.57 percent in early September, the average rate on a 30-year fixed is now at 4.22 percent - a difference of 0.35 percentage point month-over-month and its lowest mark since June 20.  Still, the average is considerably higher than it was at this time last year, when the 30-year fixed was tending at 3.36 percent.

The average rate on a 15-year fixed loan also dipped for the third consecutive week.  The current average is at 3.29 percent - a difference of 0.08 percentage point week-over-week and a 0.30 percentage point month-over-month.  A year ago, the average on a 15-year fixed was 2.69 percent.

There was moderate change with the hybrid adjustable-rate mortgages over the last week.  The five-year ARM registered a slight drop, falling to 3.03 percent from 3.07 percent.  The average rate on a one-year ARM remained at 3.28 percent week-over-week.

Mortgage rates previously spiked in July due to speculation that the Federal Reserve would curb its bond-purchase program, massive stimulus policies involving $85 million worth of Treasury notes and mortgage-backed securities.  However, the recent relief is a result of indications from the Federal Reserve that it would maintain its bond-buying program at its current levels until employment numbers improved, which should push mortgage rates down in the future.

Also influencing rates is the current government stoppage, which has impacted the amount of mortgage applications that are being processed.  Rates hovering near historic lows have kept hoe buyers interested, but the shutdown has slowed the ability of lenders looking to confirm borrowers' incomes and identities.

"With the onset of the federal government shutdown and declining consumer confidence, fixed mortgage rates fell for the third consecutive week," Frank E. Nothaft, Freddie Mac vice president and chief economist, said in a statement.  "Consumer sentiment fell for the second month in a row in September to its lowest reading since April, according to the University of Michigan.  Moreover, a recent Bloomberg survey of professional forecasters suggests that a partial federal shutdown lasting one week would shave 0.1 percentage points off of GDP growth in the fourth quarter and even more if the shutdown lasts longer."

The number of mortgage applications submitted showed a decrease this week after a two-week uptick.

Don't expect to see much of a change over the next week.  In the latest Mortgage Rate Trend Index by, analysts were split on whether rates would trend downward or stay the same of the next week.

"There is a lot going on right now that can impact interest rates both higher and lower," opined FBC Mortgage planner Jim Sahnger.  "However, economic numbers continue to be lackluster.  Uncertainty will keep the favorable rates we have in check."

View the original article here.

Thursday, October 3, 2013

Property Spotlight: 119 Conaway Avenue

The Montuori Group is pleased to present another one of our fine properties: 119 Conaway Avenue in Grass Valley.

Located in the heart of Grass Valley and conveniently close to schools, shops, restaurants, and entertainment this home is a historic member of the community dating back to 1927.  This home was in the process of a remodel before being listed with beautiful hardwood flooring and paneling, new kitchen counters, stove, and dual pane windows, new roof and gutters, a tankless water heater, new insulated garage door, and more.

This home has all the charm of an older home without the hassle!

For more information regarding this property or to schedule a showing, please don't hesitate to contact Realtor & Top Producer Bob Montuori (BRE #01753698) at (916) 698-1171 or by email.