About San Diego's La Mesa

Todays best mortgage rates. What can we expect from mortgage rates this quarter? All Real Estate Professionals & Consumers are advised to stay informed about interest rates and learn THE TRUTH BEHIND MORTGAGE QUOTES. Whether you're a newbee, market analyst (or somewhere in between), keep yourself informed of where mortgage interest rates are going (and why).

The Mortgage Street Smarts of where mortgage interest rates are going (and why):

The following information is current as of Tuesday 10-18-2011 and will help you understand todays best mortgage rates. If you are a Buyer/Borrower who is still on the fence (or if you are a Real Estate Agent attempting to educate your "on the fence" Buyer), please review these trends and secure an historically low interest rate before it is too late.

The market closed Monday with an IMPROVEMENT to pricing (and will typically warrant a pricing adjustment by most Lenders). Monday's IMPROVEMENT resulted in a change of 40 basis points (bps).

The following chart shows the market activity for today (hint: upward activity is good, downward activity is bad):

The following chart shows market activity over the past 10 days (hint: green is good, red is bad):

The following chart shows market activity over the past 1 month:

Daily Interest Rate Snapshot (sample of rates from one of the country's largest Lenders...individual pricing will vary based on specific Borrower qualifications): NOTE: This Lender has quoted a 1.00% Origination Fee (1 Point) to accompany this pricing. It bears noting that this chart does not necessarily represent todays best mortgage rates.

Market Commentary

Analyst#1: Neil Trenerry

FNMA 30-Yr 3.5%

Previous close 101.219

Opened Flat @ 101.219

Key Economic Data:

UST 2 YR 0.28 Up 0.01

UST 5 YR 1.05 Down 0.01

UST 10 YR 2.14 Down 0.01

UST 30 YR 3.12 Up 0.01

EUR / USD 1.3707 Down 0.0030
USD / JPY 76.7700 Down 0.0600
GBP / USD 1.5717 Down 0.0027

Oil 86.73 Up 0.35

Gold 1,647.30 Down 29.30

Key Economic News:

Large Increase
Producer price increase more than expected on large gain in energy.

Numbers:
PPI +0.8% (mom) for September vs. median forecast +0.2%.
Core PPI +0.2% (mom) for September vs. median forecast +0.1%.

Main Points:
1. The September Producer Price Index (PPI) rose by 0.8% (month-over-month), more than generally expected. The gain was led by a 2.3% increase in the energy index. The larger-than-expected rise in the headline PPI suggests upside risks to the headline CPI for September, reported tomorrow. The core PPI rose by 0.2%, slightly more than consensus forecasts. The main components of the core were mixed: light truck prices rose by 1.6% but car prices fell 0.5%; women's apparel prices declined by 0.4%. Pipeline inflation measures were generally firm: the core intermediate PPI rose by 0.2%, and the core crude PPI increased by 1.0% during the month.

9:00: TICS net inflows (August). Foreign inflows into long-term US securities have cooled this year. Reduced net purchases of Treasuries accounted for most of the slowing, though agencies and corporate bonds also saw lower net inflows. This month we will be watching for any impact of heightened market volatility on cross border investment flows.

Consensus: -$20bn; Last +$9.5bn.

10:00: Housing Market Index (October): Likely still low. This index remains in the mid teens, where it has been for most of the past three years.

Consensus: 15; Last 14.

13:15: Federal Reserve Chairman Ben Bernanke on “The Effects of the Great Recession on Central Bank Doctrine and Practice”. No Q&A.

18:30: Atlanta Fed President Dennis Lockhart on the economy.

Advice:

I would expect the market to continue to improve with a strong dollar this morning.

My position on MBS stays Long.

Analyst #2: Dan Rawitch

Here is the link to our daily video: http://ratewatch.com/ratewatchnow.html

I guess the DOW was overbought, as I suggested yesterday. It gave back over 250 points and today is off to a tough start, thanks to IBM, Bank of America and Goldman losses. The Goldman Sacs loss was only the second one in the history of the company! My concern is that Bonds to did not do that great, considering how bad things were for the equity markets.

To me, this suggests that Stocks have baked a EURO solution into the equation, but bonds have not. What this means is that when they do TRULY find a solution, bonds could tank.

Meanwhile, today we will benefit slightly from the DOW but with caution until we gander at CPI tomorrow.

Trusted Industry Advisor

The above information was compiled and distributed by San Diego Residential Mortgage Specialist, Jason E Gordon. As a Certified Mortgage Planning Specialist (CMPS) Certified Distressed Property Expert (CDPE) and Certified Mortgage Coach (CMC), Jason E Gordon utilizes his advanced training to examine a prospective Client's complete financial picture, while carefully listening to their overall goals. If it is mutually agreed that a new loan makes sense to pursue, Jason strives to make the entire loan process as seamless as possible. He truly believes that providing open communication and patient educational guidance to his Clients and Business Alliances has been a pivotal component to building his business, while enhancing his reputation in the Mortgage Industry as a Trusted Advisor. Visit www.jasonegordon.com or www.ApprovingSD.com or more information.

Click here for daily mortgage interest rate updates and projections for todays best mortgage rates

I recently listed a "2 on a lot" in San Diego, near SDSU. The typical market time for this area is 45 days for multi unit properties. I explained this in detail to my seller, and made them fully aware not to be emailing or calling me daily asking why we had no offers after a week on the market. This is a corporate seller, and to be quite honest, with our MLS presentation, our listings sell in days, vs months. But, being this was a multi-unit, and my 1st multi-unit listing with this particular seller, I wanted to stick to what the MLS data showed me for days on market, etc.

I inputted the listing into Sandicor, the MLS for San Diego County, On Tuesday. I utilized a 500 character description, and even utilized an 1800 character supplement, A feature I ABSOLUTELY LOVE with Sandicor! The MLS # is 100053484 for your reference :).

My main description: Wow! Rare 2 on a lot in a prime neighborhood just blocks from SDSU! Easy access to 8 fwy, location location location! These homes have been renovated top to bottom recently including newer roofs, stucco, windows, flooring, paint, landscaping, kitchens, baths, the list could go on! Nothing to do here except be an owner user or have 2 investment properties for the price of 1!! Both homes have private yards, garages, alley access to upper home, tile floors, granite, great floor plans! Priced UNDER appraisal!

My Supplement: Wow! Is there anything more you could ask for here? The landscaping makes the home look amazing! New sod, new shrubery, new trees, new bushes, new mulch, everything is NEW NEW NEW! This is by FAR the best 2 on a lot in the entire zip cod e for the price! Pet friendly, as both have huge private fenced in yards, newly landscaped with sod! Pet friendly tile floors and dark colored carpet, very easy to care for! Renters with pets typically pay $200-$300 more for rental homes , especially ones with private yards! Lower unit garage is still intact but driveway was cut into to create off street storage area for trash cans, driveway was too steep for most cars. Laundry room in garage in both homes! Lower home ha s washer & dryer that go with the sale, working condition unknown. Both units have all appliances intact, including refridgerators that will stay with these units! Where else can you purchase 2 homes, both with seperate entraces, yards, garages, not attached in any way shape or form, close to SDSU, for under $320,000? The answer? You Can't!!! Anything you get under this price will be a duplex, and a fixer at that. These are rentable in their current condition, no work n eeded! Appraisal on file at $322,000 and this was before we had 2 more closings! Will now appraise above $330,000 with ease! Last sold for almost $600,000 prior to the market peak! What a value at almost 1/2 price! Great chance to get in to the rental property arena, as units near SDSU rent in hours, if not days! Especially units with PETS OK!!! Or perfect for an owner user who would live in one home, and rent the other out to help with the mortgage! Or perfect for exten ded familes! The uses are endless for these 2 homes, I just know they are priced to sell and these are the units everyone was calling about while it was being rehabbed and our sign was up! Please don't delay! Show and sell NOW!

Now comes the ultimate kill shot :) My Photos, taken by our office photographer! I always upload the MAX ALLOWABLE photos per each MLS' guidelines. For Sandicor this is 25. After seeing the photos below, there will be no doubt in your head as to why we have offers OVER OUR CURRENT $319,900 LIST PRICE to present to the seller after being on the market for only 3 days!! Enjoy!

Front of 7128 Mohawk Street, San Diego Ca 92115

Another Front Shot of 7128 Mohawk Street, San Diego CA 92115

Living Room of 7128 Mohawk Street, San Diego Ca 92115

Kitchen of 7128 Mohawk Street, San Diego CA 92115

Bedroom of 7128 Mohawk Street, San Diego CA 92115

Bathroom of 7128 Mohawk Street, San Diego CA 92115

Backyard of 7128 Mohawk Street, San Diego CA 92115

Rear of 7128 Mohawk Street, San Diego CA 92115

Front of 7130 Mohawk Street, San Diego CA 92115

Backyard of 7130 Mohawk Street, San Diego CA 92115

Backyard of 7130 Mohawk Street, San Diego CA 92115

Living Room of 7130 Mohawk Street, San Diego CA 92115

Kitchen of 7130 Mohawk Street, San Diego CA 92115

Kitchen of 7130 Mohawk Street, San Diego CA 92115

Bedroom 1 of 7130 Mohawk Street, San Diego CA 92115

Bedroom 2 of 7130 Mohawk Street, San Diego CA 92115

Alley Access to 7130 Mohawk Street, San Diego CA 92115

Walkway

Amazing Views to Mt Helix!

Beautiful Landscaping!

Beautiful Rock Wall!

Hello and Welcome to ~La Mesa~ San Diego California Foreclosures, Bank Owned REO, Homes for Sale, Real Estate.

Understanding the foreclosure property auction (also known as Trustee Sale) process takes time, due diligence, and understanding. Saavy Real Estate investors can find some of the best deals around buying at these auctions, but is it right for everyone? We would like to help explain further about these auctions and the benefits and downsides of buying Real Estate at them.

Understanding the process is the key, and here is how the process goes as an overview:

Pre-Foreclosure (Also known as Notice of Default). Pre-Foreclosure is usually when the current homeowner is 90 days past due on their Mortgage. The current lender files with the County Recorders office a Notice of Default. When this is filed, this information becomes a matter of public record. When this notice is filed the lender usually usally gives the homeowner 90 days to come current on the amound their are past due. During this period a good amount of homeowners lately have been trying to obtain new financing terms by doing a Loan Modification with their current lender or a Short Sale with a Realtor if they know they aren't going to be able to keep up the payments due to hardship. Both of these things often times delay the foreclosure process as the bank looks to work with the current owner to see if one of these options may be a fit. To learn more about Pre-Foreclosures in ~La Mesa~ San Diego and actually search Pre-Foreclosures in San Diego for free click the yellow map.

Foreclosure Sale (Alo known as Notice of Trustee Sale). The Foreclosure sale usally occurs and is scheduled roughly 90 days after the Notice of Default is issues. Although, most of the time this process is delayed currently. Notice of Trustee sale usally takes place on the courthouse steps in the County in which the property is located. In this case, most auctions take place in Downtown, San Diego. Properties are sold as is, without any warranties or guarantees, and they must be paid for on the spot with a certified cashiers check. Many times the buyer of that foreclosure property has to end up evicting the current homeowner or tenant and this sometimes can be a process. However, even though its a riskier process, the reward can be great. To learn more about Foreclosure Sales In ~La Mesa~ San Diego and Search upcoming properties scheduled for Foreclosure click the yellow map below.

Bank Owned (REO). Bank owned properties are the properties that have gone through the two steps above and didn't sell at the Foreclosure Sale. In this case, the current lender has to take them back if there are no acceptable bids. This can also be a great area for an investor, because in a lot of cases, the lender does not want to own these properties. These can be great deals for an investor, you can also research these properties in greater detail than Foreclosure Auctions, and most all of the time you can use financing and obtain a home warranty with these. To learn more about Bank Owned REO listings in ~La Mesa~ San Diego click here.

Re-Sale Properties. Many people think Re Sale properties are not a great deal with all the Foreclosure properties out there. This is actually not true in many cases. Re Sales have to be priced aggresively and in line with Foreclosures if they want to have a chance of selling in todays market. In a lot of cases a buyer or investor can buy a re sale that has been taken good care of, doesn't have much fix up to perform, and is very close in price to that of a Foreclosure that might require a lot of work. Sometimes people think that because they are buying a Foreclosure at 20% below market value that its always a steal, however sometimes there is 20% worth of rehabilitation to get the property back to standards that actually makes it the same deal as a re-sale. Making Re Sales a great option as well. To learn more about Re Sale Homes for Sale in ~La Mesa~ San Diego click here.

Ultimately, the decision is yours and what is right for you and your situation. We have built a fully integrated Real Estate Website that will allow you to search every aspect of what we have discussed above. To search Pre-Foreclosure, Foreclosure Auction, Bank Owned REO, and New and ReSale Homes in ~La Mesa~ San Diego click here.

We also attend the Foreclosure Auctions for ~La Mesa~ San Diego on a weekly basis and track virtually every Foreclosure property in San Diego County!

We look forward to hearing from you!

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