Pasadena & South Pasadena Real Estate
Your Home Is Our Business
Have you ever dreamed of building a Green home of the Future? Here is your chance today! The Pasadena Eco House Project is for sale. This has been in planning for 24 months and has full approval to start building now. The project includes: lot, plans and permits. This home, designed to be the first Platinum LEED Certified home in Pasadena, offers many energy saving advantages. It 's construction utilizes insulated concrete panels that are far superior to standard wood … [Read more...]
The success of any stimulus program will be measured by one thing. Are consumer's spending money again? How will the federal government restore confidence in the economy and how will consumers find that all important disposable income to begin buying things other than necessities? One of the most important, albeit over looked segments of our economy are homeowners who are current on their mortgage, and haven't missed a single payment or been late. These people have good credit score, a … [Read more...]
Whoa! What in the wild world of sports happened yesterday?!  Mortgage rates absolutely tumbled, which is obviously great news for the housing market.  We actually saw rates on 30 year fixed rate mortgages drop as low as 5.25%. So what happened? In a bold move, the Fed announced that it would be buying up to $500B in mortgage bonds backed by the “Maeâ€? triplets, Fannie, Freddie and Ginnie.  Most of my sources think this was a smart move.  The net … [Read more...]
It’s been a wild couple of weeks in the bond market, which of course led to massive volatility in the bond markets.  Generally, the rule is that inflation is the enemy of interest rates and last week, a number of reports came out showing inflation rising faster than at anytime in nearly three decades.  Overall inflation rose 9.8% in the past 12 months, the fastest annual pace since 1981. Likewise, tensions (err…war) between Russia and Georgia pushed oil up to … [Read more...]
The most exciting piece of legislation in the soon-to-be enacted housing relief bill is the tax benefit for first-time home-buyers. First-time home-buyers will be eligible for a tax credit of up to $7500 towards their federal income taxes provided they meet the income requirements. The tax credit isn’t a complete giveaway; buyers will have to repay the $7500 over 15 years, but the loan comes interest-free. Not a bad deal! The income limitations are $75,000 for a single person, $150,000 … [Read more...]
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