Big News day today. Philadelphia Fed Index and the Initial Jobless Claims came in very low, which these 2 releases trumped that of the M&A talk (Intel buying McAfee for $7.7 billion). The Economic Leading Indicators show very slow growth ahead. This didn't bode well for Stocks, so they are trading very low so far this morning. As a result, Bonds made a comeback (after a bit of a correction this week). From the height to this morning's opening, the Bond Market had plunged 70 bps. It's made about half that back. If this bad economic news didn't happen, then we'd probably would have looked at another possible 80 bps drop. As a result, Mortgage Rates are up for the Day (bringing us closer to Monday's numbers).       Update: The Bond Market Improved enough to warrant better pricing (I... 08/19/2010

Real Estate in California- our homes are on the edge of a financial cliff. There I have said it. Further, relatives always said we would get carried off in a tidal wave. Well, the financial tidal wave is rising faster than the ocean. Today in the LA times I could see a dot to dot link of articles that when reviewed you can see that self interest business (is there any other kind) is striving to stay and missing the point...institutions need to have a heart for the people or they have a hollow survival like Mr Scrooge.  Here are the dot to dot points. Bad news La Times 8/19/2010 headline "Swap deals unnerve California.  Credit default swaps may influence the market for mini bonds. Is Wall Street profiting from Californias misery. Nathaniel.Popper@latimes.com described how a credit defaul... 08/19/2010

Light Trading today, as there are no releases scheduled for today. The headline for the stock market today is Target didn't reach the earnings that Trader's had expected. On the lighter-side for bonds, Germany held an auction for their 10 Treasury Bonds that went for about 30 basis points lower than our current yields, so there is a lot of appetite out their for Bonds. Right now, we're still testing the floor and could potentially drop a lot further, which would in turn, make Mortgage Rates rise. The Fed's purchase of the Treasuries is making it a little difficult to read the patterns, as the Treasuries' yields are being kept artificially low, like our interest rates were last year. Tomorrow's economic news will include Philly Fed Index, Leading Indicators, and of course, the Initial J... 08/18/2010

Good News for the Stock Market with Housing Starts and Industrial Production moving up. The PPI was up a bit today. Of course, this doesn't bode well with the Bond Market, so Mortgage Rates went up. They are testing the floor, so if it breaks below, then it could drop a lot further with higher interest rates. Stay tuned!!! 08/17/2010

Light Trading on the Stock Market today with the Empire Index reporting an increase from previous month's manufacturing in the NE region of the US. This is only at a very modest rate, which Traders were hoping for a more positive note. The Home Builder's Index dropped, as they had expected it to go up a bit. The Home Builders are still not feeling overly optimistic with the current market. The Bond Market opened up quite a bit, but since has closed the gap a little bit. But the Mortgage Rates are showing better rates than Friday's numbers (maybe it was a Friday the 13th thing;) 08/16/2010

The Redondo Beach average home sale price in July 2010 went up by 5.5  percent compared to the same period a year ago, bringing the average price to $757,627. The number of sales  was lower by 10 transactions. Redondo Beach SoldListings AverageSale Price AverageDOM July 2010 63  $757,627 66 July 2009 73  $715,639 71  All stats are compiled from the Multi Regional Multiple Listing Service. Information is deemed reliable but not guaranteed.Sales in Redondo Beach over last few months reflect a stabilization of the South Bay real estate market as home buyers respond to increased affordability and more moderate prices.   If you want to learn more about South Bay real estate, please contact me at 310-918-5027. Wondering what your South Bay or Redondo Beach home is worth in today's market?  Pl... 08/16/2010

Brookside Village is a planned community comprised of 385 condominium units in 32 buildings spread over several acres of land in South Redondo Beach.  Brookside Village is located next to the Alta Vista Park and is only a few blocks from the beach, Redondo Pier, Riviera Village and many fine South Redondo Beach restaurants and shopping.  This beautiful complex offers swimming pools and spas, tennis courts, a clubhouse, and a gym. All of this amidst park-like landscaping, complete with brooks and waterfalls.Brookside Village complex is FHA approved which would allow you to purchase one those beautiful condos with just 3.5% down! Call me at (310)918-5027 for details!Currently there are 4 condos for sale at Brookside Village:One Bd/1 Ba condo listed at $320,000Two 2 Bd/2 Ba condos listed a... 08/13/2010

According to the futures this morning, the Stock Market was a bit Mixed. Again, I'm sorry for the early portion of this video/blog, I'm at a seminar and trying to maintain the Daily Market Report, well, daily. The Retail Sales were Up, after 2 months of negative numbers. The Core CPI came in as expected. The Consumer Sentiment will be released later this morning. The Bond Market started a bit higher this morning after yesterday's big sell-off. The Technicals point to a better day for Bonds, so I suspect the Traders were cashing in on the Profits yesterday; otherwise, we had a bit of a correction. If you remember, we had a 43 bps rollover a few days ago and the bonds traded in the same trading range; if it didn't have the rollover, the it would have been trading above 103 level. The cur... 08/13/2010

      Just reduced!  Originally priced at $599,000.  Current price - $549,000! This 3 Bd/2.5 Bath Freestanding townhouse is ready to move in!  Dont' miss out on this opportunity to own a beautiful, upgraded home in North Redondo Beach.  Call me at 310-918-5027 for more details or showing! 08/12/2010

Sorry folks, I have a seminar for the next 2 days, so I'm creating this video before the Stock Market is Open. Obviously, there's room for movement from the technicals released this early in the day throughout the day. Not much to report today, other than Jobless Claims continue to disappoint. It came up a whopping 484,000. The Market won't like that news. The Bond Market it starting slightly lower, but most likely (based on the current technical) improve a bit today, as Mortgage Rates should see about the same to a little bit improvement. Tomorrow, we'll be seeing the CPI and Retail numbers. Have a great day and thanks for bearing with me. 08/12/2010

The Stock Market is Way Down today (DOW touching -200+) on the release of the Trade Balance Deficit. Many Economists now think that the Q2 GDP will be revised much lower than previous report. The Federal Budget Balance will be reported later today. Something that I forgot to touch on in the video is Asia is showing more signs of slowing down too. The Bond Market is experiencing an Bond Rollover today. Based on those results, then Interest Rates have improved significantly from yesterday. 08/11/2010

      Mostly Not-So-Good News for the Stock Market this morning. Productivity was down and so is the Wholesale Inventories. The Low Productivity numbers may translate into more Job Losses, especially something we don't need right now. Typically, this bad news will be good for the Bond Market, but it appears to be showing a bit of a Correction this morning. If you follow the Candlesticks, then you will see it won't stray too far off the Moving Averages for long. So for this mornings report, Mortgage Rates went up a little bit. It may change once the Fed makes their Announcements later this morning (11:15am PST). They don't expect any changes in the Interest Rates, but they're seeing if the Fed will be making any changes in the language and any Action to be taken, as China's numbers are ... 08/10/2010

The Stock Market is Up a little bit and the Bond Market is Down a little. Very light trading today, as the Traders are preparing for the Fed's Announcement tomorrow. Many are expecting them to change their language reflecting the decelerating economy. No other releases today, so we'll wait until tomorrow with the Fed's Announcement. Meanwhile, Mortgage Rates remain about the same as Friday. 08/09/2010

The Jobs Report Day finally came and it wasn't very pretty with the Market. Non-Farm Payrolls was still way down; Private Sector Payrolls fell quite a bit below expectations; Unemployment remained the same (as many still have given up looking); but the Average Hourly Earnings was Up. Now, the Traders will be looking toward the Fed to see what their next move will be at their next meeting. The Stock Market is way down and the Bond Market is up a bit (even starting a new trading range -again). As result of all this news, the Mortgage Rates show more improvement. 08/06/2010

The Initial Jobless Claims Jumped up unexpectedly with the Traders (on the day before the Government's Job Data to be released). As a result, the Stock Market is down and the Bond Market is Up. This is certainly not good news for people watching the Equity Markets, but good news for those looking to buy a home and/or refinancing their home with better Mortgage Rates. If the numbers come in bad tomorrow, I wouldn't expect a huge rally tomorrow, as I believe some of the current pricing is fixed into anticipated bad news. But if it's good news, then it could be a rally the opposite way, as Wall Street seems to be eager for any optimism in the Market. Let's stay tuned!!!! 08/05/2010

Good Economic News for Jobs and Growth in Services Industry. The ADP Payroll report shows new jobs for July and the ISM Non-Manufacturing Index showed a little more growth in July. Typically, the Traders don't put too much emphasis on the ADP because it's not always in line with what the Government reports (Employment figures will be reported this Friday -definite Market Mover). But the information coupled together created a bit more optimism in the Stock Market. As a result, money is leaving the Bond Market today and Mortgage Rates are Up a little bit. 08/04/2010

A lot of not so good economic news today, which we'll lead off with Personal Income and Consumer Spending. Both came in at 0%. So, people are not making more money and not spending money. Also, both the Pending Home Sales and Factory Orders were down. As a result, the Stock Market is down and the money is trickling into the Bond Market (which is Up). So that means, better Mortgage Rates today. We'll want to look ahead to the Jobs numbers that will be release later this week for any big swings in the Market. 08/03/2010

Stock Market is rejoicing with optimism that the ISM is still reflecting some growth (even though it's down from the prior month); and the Construction Spending was Up for June (even though May's numbers were revised even lower). Interesting....makes you wonder if it will stick. Some of the European Banks (HSBC and PNB Paribas) reflected better than expected earnings. Not only the financial institutions, but some of the other industries were reflecting better economic numbers, so this could be better news for optimism. The Bond Market started a bit lower today and went even lower before pulling back around mid-morning (PST) to an even level. Mortgage Rates will be a little higher than Friday's numbers, as we started the day about 12bps lower than Friday's close. But we are starting to ... 08/02/2010

Currently there are 146 active listings in North Redondo Beach, according to MLS.  Average listing price is $687,724, lowest $299,900, highest $1,325,000.  55 of those listings are single family homes, 20 are condos and 71 are townhomes. Average DOM (days on the market) in North Redondo Beach real estate is 66 days. 125 listings are standard sales, 4 properties are REOs (bank owned) and 17 short sales.  Please call or email me for a complete list of Redondo Beach foreclosures. Wondering what your Redondo Beach home is worth in today's market?  Please call me at 310-918-5027 or e-mail at info@ISellSouthBay.com for a free home evaluation.  You may also visit www.SouthBayHouseValues.com for a same-day internet value report, delivered to your e-mail! Search Redondo Beach homes for sale, get... 08/02/2010

The Low GDP Number is the News of the Day, bringing the Stock Market Down. We had Good News from the Chicago PMI, which helped to pull the Stock Market Up a bit, so it's a bit Mixed and Trading a bit lightly at the Moment. The Consumer Sentiment was OK and so was the Employment Cost Index. The 7 Year Auction didn't do so well, so it helps with the Supply Concerns. All of this Economic News today, gave a HUGE lift to the Bond Market. We are now looking at a new trading range (higher than the last one), which means better Mortgage Rates. 07/30/2010