Gordon Cuffe

I was so excited today because the 10 yr. note dropped to 3.33%. Mortgage rates are tied to the 10 yr note rate. When the interest rates drop on the 10 yr note then fixed mortgage rates drop. Here are examples of what some MORTGAGE BROKERS IN THE ROCKLIN CA area could offer today. The 30 yr fixed rate dropped to 4.5% for 1.25 points. The 15 yr fixed rate dropped down to 4.0% for 1.5 points. The 20 yr fixed rate dropped down to 4.375% for 1 point. These are just averages right now as loan to value and credit score could raise or lower these average rates for the client.I have been a mortgage broker since 1993 and I cant remember the rates being so low. This means that a person buying a home for 335k and a loan amount of 325k would have a principal and interest payment of $1656.0 per month on a 30 yr fixed rate. A 20 yr fixed rate would give you a $2056.0 per month payment. You could buy an incredible home in ROCKLIN CA and your payment total would be $2500.0 per month for just 20 years. I can tell you that it would take about $8000.0 per month to qualify for a 325k MORTGAGE. The only sad thing about this is that rates dont stay the same daily so I could be writing next week about how rates went up by a quarter of a percent. If you a buying a house soon, I would lock my rate now. If your current rate on your house is 5% or higher, you might hurry and refinance before the rates go up a little bit.

One reason that I have liked being a MORTGAGE BROKER IN THE ROCKLIN TO SACRAMENTO AREA for the last 16 years is that I get to SHOP MANY DIFFERENT LENDERS for my clients so that I can find them the best rate and term. Mortgage brokers have received bad press lately because some of them were doing fraudulant loans back when home values were going up. I think many of these people are out of the business now so hopefully brokers will be respected again in the future. With these low low rates and low home prices, it does seem that this is the perfect time to buy a house. If you would like to learn how to find a property with equity, please go to www.propertieswithequity.com

I live in the Roseville CA zip code of 95747 so I thought I would check out the statistics on HOMES FOR SALE IN THE ROSEVILLE CA area. I found out that there are currently 301 active listings in the 95747 zip code. The lowest home for sale is 179k and highest home for sale is 699k. The average days on market is 105. The average price per sq ft is 152. There has been an average of 89 homes sold per month in Roseville the last three months. That tells me that their is a 3 1/3 months supply of HOMES FOR SALE IN ROSEVILLE CA 95747. There are 52 short sales out of the 301 listings and there is 117 short sale continingent short sale listings. That means 117 houses allready have offers on them and they are just waiting for bank approval.

Last year the average price per sq ft was 166. The average number of sales per month was 88 per month. The lowest sold was 235k and the highest sold was 899k. This year the lowest sold in the last three months was 129k and the highest sold was 765k. I can say that BUYING A HOME IN ROSEVILLE is a great choice because of the safe neighborhoods and great schools. If you want to follow the real estate market from Rocklin CA to Sacramento CA, you can go to www.rocklinsacramento.blogspot.com.

I just wanted to write a quick article about the current interest rates since many people didnt realize that Sellstate Realty First is also a MORTGAGE LENDER IN ROCKLIN CA ALSO. The interest rates have gone up a quarter percent in the last week and a half. It looks like when the rates dropped below 5% that was another low of the year as they didnt stay there for long. If a person's loan was approved today without any conditions they could get a INTEREST RATE OF 4.625% for 2 points. You could also lock in at 5% without any points on the 30 yr fixed rate. I am amazed that a person could get a 15 yr fixed MORTGAGE INTEREST RATE at 4.25% for a point and a half now.

The great thing about interest rates being so low is that a person can BUY A NICE HOME IN ROCKLIN OR ROSEVILLE for 250k and their mortgage payments would only be $1700.0 per mont for p.i.t.i. That is with just 3.5% down on a FHA LOAN. I think the other incredible fact that many people dont realize is that an investor can BUY A HOME IN SACRAMENTO for 70k to 80k and get a renter for $1100.0 per month. Their payment on a 10 YEAR MORTGAGE is just $750.0 per month. They would have a net positve cash flow of $250.0 per month along with the fact that the home would be paid off in 10 years. These kind of sales are happening fast now because the expienced investors are buying these homes within days on the market.

If you want to search all the listings from Rocklin to Sacramento, please go to www.rocklinsacramento.com

If you want to find out what is going on in our real estate market, then please go to www.rocklinsacramento.blogspot.com

I am sure that a person who hasnt kept up with the real estate market will be shocked that I am now declaring this a sellers market. The number of HOMES FOR SALE IN CITRUS HEIGHTS CA TO SACRAMENTO CA has droped even more in the last month. I just researched the zip code of 95621 and found out that there is only a two and a half months SUPPLY OF HOMES FOR SALE IN CITRUS HEIGHTS. I also researched the SACRAMENTO CA zip code of 95841 and found out that there is only a month and a half supply of homes for sale. It is a sellers market in the 200k and under price range because of the low supply of homes.

It is a perfect time now for the homeowner who has some equity and has a home in the 200k or under price range. A homeowner who now wants to move because they need a larger home or are moving out of the area then this is a perfect time to sell. They will probably get multiple offers on their home.They will have a large supply of homes to choose from in the higher price range. As an example, there is a nine month supply of HOMES FOR SALE IN GRANITE BAY CA. Granite Bay has larger and higher priced homes for sale. A person who buys now will get an incredible 20 or 30 year fixed mortgage rate thus helping there monthly payment to be even more affordalbe.

If you need to search for all the homes for sale from Rocklin to Sacramento, then please go to www.rocklinsacramento.com

I just gathered all the data for the HOMES FOR SALE IN ROCKLIN CA 95765 zip code. I counted 179 active listings in that zip code. There are 100 short sale listings and 79 listings. Out of the 79 listings there are only 5 bank owned listings. There have been 119 sold HOMES IN ROCKLIN CA the last 3 months. That is an average of 40 homes sold per month. That tells me that there is a 4 1/2 month supply of HOMES FOR SALE IN ROCKLIN CA. That is about an average supply of homes on the market. If it was something like 9 months supply of home for sale ,that would tell me that market still has the potential for dropping in price. The average price per square foot of the sold homes was 143 per sq. foot. Last year at the same time the average price per sq ft was 165 per sq ft. If you are looking to BUY A HOME IN THE ROCKLIN CA area, I would say that you have a very good chance at buying your home at the bottom of the market as it doesnt look like values are dropping much in the near future. You can search all the homes for sale in Rocklin at www.rocklinsacramento.com