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Escondido, CA Real Estate News

By Robert Sizer, Associate Broker
(Andrew Arroyo Real Estate - Lic#01187872)
I was recently referred as a potential listing agent for a property located in Escondido,92029 which includes some of the higher end properties located in Escondido.  The sellers bought the property from the builder for $498,000 towards the end of 1999.  This property is listed as a 4 bedroom, 4 bath, 3,543 sq.ft. single level on a 1.7 acre lot (not all useable).  When advising a seller, I do extensive research in order to determine/suggest the best market price, as will any experienced real estate advisor.  In doing so, I researched properties from 3,000 to 4,000 sq.ft. on lots over 1 acre using no other criteria in reporting the following:   2005 - (34) sales - average sales price $997,474 - average price p/sq.ft. $294 2006 - (24) sales - average sales price $947,395 - average price p...
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By Bill Ladewig, Experience Is Your Advantage
(LoanOfficerSchool.com)
Rate Lock Advice & Mortgage Market Update December 28, 2009, Market Close RATE LOCK ADVISORY Lock Advice:  LOCKMBS prices closed down 11/32. Demand was close to average for the 2-Yr auction. RATE NOTES:When MBS prices are up, Rates are down.Lock advice can change throughout the day .Good economic news = Bad Rate News. National Average Fixed Rate Mortgage UP 0.04% at 5.13% on Dec.28 Fannie Mae Mortgage Backed SecuritiesMBS Opened at 4.944% Up 0.101%. 10 Year Treasury Currently 3.840% Up 0.02% DJI Stocks closed at $10,547.08,  Up 26.98, 0.26% European and Asian Markets Up 0.657% Nymex Crude Oil Currently $78.55 Up $0.50   Bad News! Bill Introduced in House to Increase FHA Down Payment to 5.00% from 3.50 Read Story. Don't Miss The Real Deal - Real Estate closings in 2010 Real Deal Brokers...
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By Bill Ladewig, Experience Is Your Advantage
(LoanOfficerSchool.com)
Rate Lock Advice & Mortgage Market Update December 28, 2009, 8:45 PT RATE LOCK ADVISORY Lock Advice:  LOCKMBS prices are down -10/32. There will be a 2-yr Treasury auction at 1:00 et. RATE NOTES:When MBS prices are up, Rates are down.Lock advice can change throughout the day .Good economic news = Bad Rate News. National Average Fixed Rate Mortgage Unchanged at 5.09% on Dec.24 Fannie Mae Mortgage Backed SecuritiesMBS Opened at 4.944% Up 0.101%. 10 Year Treasury Currently 3.830% Up 0.01% DJI Stocks $10,536.04,  Up 15.94, 0.15% European and Asian Markets Up 0.672% Nymex Crude Oil Currently $78.90 Up $0.85 Bill Introduced to Increase FHA Down Payment to 5.00% from 3.50 Read Story. Don't Miss The Real Deal - Real Estate closings in 2010 Real Deal Brokers, If you value your business then wat...
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By Melissa Zavala, Broker, Escondido Real Estate, San Diego County
(Broadpoint Properties)
I've heard people say such things as "You look like a local" or "You're acting like a local". I'm not sure whether it is a bad thing to look or act like a local. It certainly is a good thing to shop local and use local community services whenever possible. While many of us tend to gravitate towards the larger superstores, there are some clear benefits to keeping it local whenever possible. Here are just a few reasons to keep in local it Escondido, or in your own community wherever that might be: Shopping locally creates jobs. The jobs created allow for more spending which improves the local economy. Local shops invest in the community, supporting school and community events as well as local charities. Shopping locally can save you money. Travel expenses and delivery costs for larger ite...
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By Bill Ladewig, Experience Is Your Advantage
(LoanOfficerSchool.com)
Rate Lock Advice and Mortgage Market Update December 23, 2009, 9:40 PT RATE LOCK ADVISORY Lock Advice: FLOATMBS prices are up +4/32. Core PCE inflation came in lower than expected. RATE NOTES:When MBS prices are up, Rates are down.Lock advice can change throughout the day .Good economic news = Bad Rate News. National Average Fixed Rate Mortgage UP 0.06% at 5.04% on Dec.22 Fannie Mae Mortgage Backed SecuritiesMBS Opened at 4.851% Up 0.088%. 10 Year Treasury Currently 3.720% Down -0.04% DJI Stocks $10,464.25,  Down -0.68, -0.01% European and Asian Markets Up 0.563% Nymex Crude Oil Currently $76.43 Up $2.03 If you value your business then please watch this three minute videoSee TBWS Video   Rates 12-23-09, 1:00 PT 30 Year Fixed to $417,000Rate 4.875% Point 0.750, APR 5.004%APR Based on $35...
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By Bill Ladewig, Experience Is Your Advantage
(LoanOfficerSchool.com)
Rate Lock Advice and Mortgage Market Update December 22, 2009, 8:00 PT RATE LOCK ADVISORY Lock Advice:  LOCKUnfavorable repricing is a risk from early investors. MBS prices are down -15/32 , below 9:45 ET pricing of -10/32, and the early high of -6/32.  Existing Home Sales came in higher than expected, pushing MBS markets lower.Third quarter GDP was revised lower than expected. RATE NOTES:When MBS prices are up, Rates are down.Lock advice can change throughout the day .Good economic news = Bad Rate News. National Average Fixed Rate Mortgage UP 0.01% at 4.98% on Dec.21 Fannie Mae Mortgage Backed SecuritiesMBS Opened at 4.763% Up 0.122%. 10 Year Treasury Currently 3.740% Up 0.05% DJI Stocks $10,453.36,  Up 39.22, 0.38% European and Asian Markets Up 1.132% Nymex Crude Oil Currently $73.29...
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By Bill Ladewig, Experience Is Your Advantage
(LoanOfficerSchool.com)
Rate Lock Advice and Mortgage Market Update December 21, 2009, 1:10 PT RATE LOCK ADVISORY Lock Advice:  LOCKMBS prices are down -21/32Unfavorable repricing may be a risk. No economic data will be released today. RATE NOTES:When MBS prices are up, Rates are down.Lock advice can change throughout the day .Good economic news = Bad Rate News. National Average Fixed Rate Mortgage Unchanged at 4.97% on Dec.21 Fannie Mae Mortgage Backed SecuritiesMBS Opened at 4.641% Up 0.067%. 10 Year Treasury Currently 3.690% Up 0.14% DJI Stocks $10,414.14,  Up 85.25, 0.83% European and Asian Markets Up 1.088% Nymex Crude Oil Currently $72.47 Down $0.89 If you value your business then please watch this three minute videoSee TBWS Video   Rates 12-21-09, 1:00 PT 30 Year Fixed to $417,000Rate 4.75% Point 1.125,...
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By Bill Ladewig, Experience Is Your Advantage
(LoanOfficerSchool.com)
Rate Lock Advice and Mortgage Market Update December 21, 2009, 10:55 PT RATE LOCK ADVISORY Lock Advice:  LOCKMBS prices are down -17/32Unfavorable repricing may be a risk. No economic data will be released today. RATE NOTES:When MBS prices are up, Rates are down.Lock advice can change throughout the day .Good economic news = Bad Rate News. National Average Fixed Rate Mortgage Unchanged at 4.97% on Dec.21 Fannie Mae Mortgage Backed SecuritiesMBS Opened at 4.641% Up 0.067%. 10 Year Treasury Currently 3.660% Up 0.11% DJI Stocks $10,430.84,  Up 101.95, 0.99% European and Asian Markets Up 1.088% Nymex Crude Oil Currently $72.04 Down $1.32       Brokers, If you value your business then please watch this three minute videoSee TBWS Video   Rates 12-21-09, 9:00 PT30 Year Fixed to $417,000Rate 4....
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By Bill Ladewig, Experience Is Your Advantage
(LoanOfficerSchool.com)
Rate Lock Advice and Mortgage Market Update December 18, 2009, 1:10 PT RATE LOCK ADVISORY Lock Advice:  LOCKMBS prices are down -9/32. No economic data will be released today. RATE NOTES:When MBS prices are up, Rates are down.Lock advice can change throughout the day .Good economic news = Bad Rate News. National Average Fixed Rate Mortgage Unchanged at 4.97% on Dec.18 Fannie Mae Mortgage Backed SecuritiesMBS Opened at 4.575% Down 0.061%. 10 Year Treasury Currently 3.540% Up 0.04% DJI Stocks $10,328.89,  Up 20.63, 0.2% European and Asian Markets Down -0.599% Nymex Crude Oil Currently $72.96 Up $0.31   If you value your business then please watch this three minute videoSee TBWS Video   Rates 12-18-09, 11:00 PT 30 Year Fixed to $417,000Rate 4.625% Point 1.000, APR 4.772%APR Based on $350,0...
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By Bill Ladewig, Experience Is Your Advantage
(LoanOfficerSchool.com)
This post is inspired by Tim Bradford's blog on the new revised GFE that appears in January. The revised GFE is another failed attempt to protect consumers,  The problem is, consumers cannot be protected with forms because those who wish to deceive will always find a way.  Consumer education is the only real consumer protection. The new GFE requires lenders to guarantee their fees but it allows lenders to estimate fees for Title, Settlement, Prepaid Interest and Impounds.  Once again, it appears the rules are made by people with absolutely no understanding of real world lending. Based on my experience, consumers are less interested in the individual fees than the grand total.   So, guess which fees will continue to be understated. So, how can consumers be protected?  The answer is only ...
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By Bill Ladewig, Experience Is Your Advantage
(LoanOfficerSchool.com)
Rate Lock Advice and Mortgage Market Update December 16, 2009, 8:40 PT RATE LOCK ADVISORY Lock Advice:  FLOATMBS prices are up 2/32.   CPI came in slightly lower than expected, while Housing Starts were right on target. RATE NOTES:When MBS prices are up, Rates are down.Lock advice can change throughout the day .Good economic news = Bad Rate News. National Average Fixed Rate Mortgage UP 0.01% at 4.96% on Dec.15 Fannie Mae Mortgage Backed SecuritiesMBS Opened at 4.685% Up 0.006%. 10 Year Treasury Currently 3.560% Down -0.04% DJI Stocks $10,493.80,  Up 41.8, 0.4% European and Asian Markets Up 0.721% Nymex Crude Oil Currently $72.95 Up $2.26   If you value your business then please watch this three minute videoSee TBWS Video   Rates 12-16-09, 10:10 PT 30 Year Fixed to $417,000Rate 4.625% Po...
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By Bill Ladewig, Experience Is Your Advantage
(LoanOfficerSchool.com)
Rate Lock Advice and Mortgage Market Update December 15, 2009, 1:40 PT RATE LOCK ADVISORY Lock Advice:  LOCKMBS prices are down -8/32 after PPI inflation came in much higher than expected. RATE NOTES:When MBS prices are up, Rates are down.Lock advice can change throughout the day .Good economic news = Bad Rate News. National Average Fixed Rate Mortgage UP 0.01% at 4.96% on Dec.15 Fannie Mae Mortgage Backed SecuritiesMBS Opened at 4.679% Up 0.068%. 10 Year Treasury Currently 3.590% Up 0.03% DJI Stocks closed Tuesday at $10,452.00,  Down -49.05, -0.47% European and Asian Markets Down -0.078% Nymex Crude Oil Currently $70.69 Up $1.18   If you value your business then please watch this three minute videoSee TBWS Video   Rates 12-15-09, 9:00 PT 30 Year Fixed to $417,000Rate 4.625% Point 1.37...
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By Bill Ladewig, Experience Is Your Advantage
(LoanOfficerSchool.com)
Rate Lock Advice and Mortgage Market Update December 15, 2009, 9:00 PT RATE LOCK ADVISORY Lock Advice:  LOCKMBS prices are down -9/32 after PPI inflation came in much higher than expected. RATE NOTES:When MBS prices are up, Rates are down.Lock advice can change throughout the day .Good economic news = Bad Rate News. National Average Fixed Rate Mortgage Unchanged at 4.95% on Dec.14 Fannie Mae Mortgage Backed SecuritiesMBS Opened at 4.679% Up 0.068%. 10 Year Treasury Currently 3.610% Up 0.05% DJI Stocks $10,482.01,  Down -19.04, -0.18% European and Asian Markets Down -0.087% Nymex Crude Oil Currently $70.54 Up $1.03     Brokers, If you value your business then please watch this three minute videoSee TBWS Video   Rates 12-15-09, 9:00 PT30 Year Fixed to $417,000Rate 4.625%, Point 1.375, APR...
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By Bill Ladewig, Experience Is Your Advantage
(LoanOfficerSchool.com)
Rate Lock Advice and Mortgage Market Update December 14, 2009, 8:00 PT RATE LOCK ADVISORY Lock Advice:  FLOATMBS prices are down 2/32No economic data will be released today. RATE NOTES:When MBS prices are up, Rates are down.Lock advice can change throughout the day .Good economic news = Bad Rate News. National Average Fixed Rate Mortgage UP 0.04% at 4.95% on Dec.11 Fannie Mae Mortgage Backed SecuritiesMBS Opened at 4.611% Down 0.001%. 10 Year Treasury Currently 3.540% Down -0.01% DJI Stocks $10,490.77,  Up 19.27, 0.18% European and Asian Markets Up 0.53% Nymex Crude Oil Currently $69.89 Up $0.02   If you value your business then please watch this three minute videoSee TBWS Video   Rates 12-14-09, 8:00PT 30 Year Fixed to $417,000Rate 4.625% Point 1.000, APR 4.772%APR Based on $350,000 Lo...
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By Bill Ladewig, Experience Is Your Advantage
(LoanOfficerSchool.com)
Rate Lock Advice and Mortgage Market Update December 11, 2009, 11:50 PT RATE LOCK ADVISORY Lock Advice:  FLOATMBS prices are down -6/32. Prices are 9/32 above today's lows which may cause favorable repricing from some lenders.This morning, December Retail Sales rose 1.3%, well above the consensus forecast of 0.6%, and Retail Sales ex-autos showed similar strength.  November Import Prices ex-oil rose 0.4%. RATE NOTES:When MBS prices are up, Rates are down.Lock advice can change throughout the day .Good economic news = Bad Rate News. National Average Fixed Rate Mortgage UP 0.02% at 4.93% on Dec.11 Fannie Mae Mortgage Backed SecuritiesMBS Opened at 4.612% Up 0.035%. 10 Year Treasury Currently 3.530% Up 0.04% DJI Stocks $10,474.83,  Up 69, 0.66% European and Asian Markets Up 0.588% Nymex Cr...
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By Bill Ladewig, Experience Is Your Advantage
(LoanOfficerSchool.com)
Rate Lock Advice and Mortgage Market Update December 10, 2009, 11:10 PT RATE LOCK ADVISORY Lock Advice:  LOCKMBS prices are down -2/32. Jobless Claims came in a little higher than expected. RATE NOTES:When MBS prices are up, Rates are down.Lock advice can change throughout the day .Good economic news = Bad Rate News. National Average Fixed Rate Mortgage Unchanged at 4.91% on Dec.10 Fannie Mae Mortgage Backed SecuritiesMBS Opened at 4.577% Up 0.031%. 10 Year Treasury Currently 3.460% Up 0.01% DJI Stocks $10,409.91,  Up 72.86, 0.7% European and Asian Markets Up 0.475% Nymex Crude Oil Currently $70.19 Down $0.48   If you value your business then please watch this three minute videoSee TBWS Video   Rates 12-10-09, 8:00 PT 30 Year Fixed to $417,000Rate 4.625% Point 1.125, APR 4.783%APR Based...
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By Bill Ladewig, Experience Is Your Advantage
(LoanOfficerSchool.com)
FHA 90 Day Flip Rule Extended This may be old news to some but I still receive calls requesting FHA 90 day flip rule information. The FHA 90 Day Flip Rule originally prohibited anyone from using FHA financing on homes owned for less than 90 days.  In 2008 FHA lifted the ban for banks only for one year then in 2009 extended the exception for one more year. Some lenders are have extended the 90 Day Flip rule to include VA and Conventional loans so it is a good idea to check each lender's policy before placing any loan on property owned for less than 90 days Below is the notice extending the FHA 90 Day flip rule to May 10, 2010.  The extension only applies to banks, the rest of us will have to wait 90 days before we can sell a newly purchased home with FHA financing. This revised notice on...
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By Bill Ladewig, Experience Is Your Advantage
(LoanOfficerSchool.com)
Rate Lock Advice and Mortgage Market Update December 9, 2009, 11:40 PT RATE LOCK ADVISORY Lock Advice:  FLOAT With CautionMBS prices are down -3/32. Weaker than average demand for the 10-Yr bond auction hurt MBS markets. RATE NOTES:When MBS prices are up, Rates are down.Lock advice can change throughout the day .Good economic news = Bad Rate News. National Average Fixed Rate Mortgage UP 0.01% at 4.91% on Dec.9 Fannie Mae Mortgage Backed SecuritiesMBS Opened at 4.546% Up 0.053%. 10 Year Treasury Currently 3.420% Up 0.02% DJI Stocks $10,302.59,  Up 16.62, 0.16% European and Asian Markets Down -0.989% Nymex Crude Oil Currently $70.71 Down $1.91   Brokers, If you value your business then please watch this three minute videoSee TBWS Video   Rates 12-09-09, 8:00 PT30 Year Fixed to $417,000Rat...
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By Bill Ladewig, Experience Is Your Advantage
(LoanOfficerSchool.com)
Rate Lock Advice and Mortgage Market Update December 8, 2009, 12:00 PT RATE LOCK ADVISORY Lock Advice:  FLOAT With CautionMBS prices are up +2/32 which is 7/32 down from today's high of 9/32 causing some lenders to reprice for the worse.  Demand was stronger than average for the 3-Yr auction RATE NOTES:When MBS prices are up, Rates are down.Lock advice can change throughout the day .Good economic news = Bad Rate News. National Average Fixed Rate Mortgage Down 0.02% at 4.9% on Dec.8 Fannie Mae Mortgage Backed SecuritiesMBS Opened at 4.493% Down 0.085%. 10 Year Treasury Currently 3.390% Down -0.05% DJI Stocks $10,390.11,  Up 1.21, 0.01% European and Asian Markets Down -1.27% Nymex Crude Oil Currently $72.70 Down $1.23   If you value your business then please watch this three minute videoS...
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By Bill Ladewig, Experience Is Your Advantage
(LoanOfficerSchool.com)
Rate Lock Advice and Mortgage Market Update December 7, 2009, 3:30 PT RATE LOCK ADVISORY Lock Advice:  FLOATMBS prices closed up +15/32 , above 9:45 ET pricing of +6/32, and at the high for the day.  Fed Chief Bernanke continues to indicate that the Fed will keep the fed funds rate low for an extended period of time to help the economic recovery. RATE NOTES:When MBS prices are up, Rates are down.Lock advice can change throughout the day .Good economic news = Bad Rate News. National Average Fixed Rate Mortgage UP 0.01% at 4.92% on Dec.7 Fannie Mae Mortgage Backed SecuritiesMBS Opened at 4.578% Up 0.034%. 10 Year Treasury Currently 3.430% Down -0.05% DJI Stocks closed Monday at $10,390.11,  Up 1.21, 0.01% European and Asian Markets Down -0.243% Nymex Crude Oil Currently $73.90 Down $1.57 ...
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