Down or Up: Where Are Mortgage Rates Heading in 2014?

According to the Mortgage Bankers Association’s forecast, mortgage rates are likely to rise above 5 percent in 2014 and average 5.3 percent by the end of 2015.

That would mark a substantial jump over where mortgage rates currently stand. The MBA reported this week that the 30-year fixed-rate mortgage averaged 4.33 percent, the lowest average since June.

The MBA expects that the Federal Reserve will decide to taper its $85-billion per month bond-purchasing program in early 2014 and end it altogether in September 2014. The Fed’s bond buying program has been keeping mortgage rates low. The Fed has hinted in recent months that it will soon be winding down the program.
This will likely result in a continued decline in mortgage refinancing, and borrowers seeking to tap the equity in their homes will be more likely to rely on home equity seconds rather than cash-out refinances.
The MBA indicates in its forecast that it expects home purchase applications for mortgages to rise 9 percent next year, following expected continued home sales and price increases.
However, the MBA projects that mortgage originations will drop by 32 percent in 2014, as the number of refinancing applications post a large drop in the New Year due to expected rising interest rates.
While mortgage refinances make up the bulk of home applications today, it is anticipated that this trend will reverse next year. Purchase loans are expected to make up 60 percent of new loan originations next year compared to about 38 percent this year.

Source: “U.S. Mortgage Applications Increase as Rates Edge Down,” Reuters (Oct. 30 2013) and “Purchase Loans Expected to Buck Rising Mortgage Rates Next Year,” Inman News (Oct. 29, 2013)

We take pride in providing very personal service; understanding that buying or selling a house is probably not something that you do every day. Our clients' needs are seldom identical. Our philosophy is to provide customized solutions. We believe that the ability to look at things from your point of view is vital to a smooth sale. That means flexible service. Call us when you are ready to make a move. (909) 945-3662

Richard Kirchnavy

California Real Estate Broker

CalBRE 01016593

Janine Kirchnavy

California Real Estate Broker

CalBRE 01048899

(909) 945-3662

1425 W Foothill Blvd #237

Upland CA 91786

www.44Realty.com

Top Seven Cities for Retirement in the U.S.

Looking for the best place to spend your retirement years?  Check out Money Magazine's list of best cities for retirement, taking into account such factors as housing costs, the percentage of the population over the age of 50, cost of living, taxes, lifestyle, and health care.

Here are the cities that topped its list for retirement:

• Raleigh, N.C.
Housing costs: $200,000 to buy a home/$1,000 a month to rent
Population: 25% over the age of 50

• Pittsburgh

Housing costs: $149,450 to buy/$1,100 a month to rent
Population: 33% over 50

• Lexington, Ky.
Housing costs: $162,400 to buy/$900 a month to rent
Population: 29% over 50

• St. Petersburg, Fla.
Housing costs: $108,000 to buy/$1,000 a month to rent
Population: 39% over 50

• Boise, Idaho
Housing costs: $137,020 to buy/$900 a month to rent
Population: 32% over 50

• Fort Lauderdale, Fla.
Housing costs: $216,000 to buy/no data for rent
Population: 39% over 50

• Salt Lake City
Housing costs: $137,446 to buy a home/no data for rent
Population: 25% over 50

Source: 10 Best Places to Retire - Money Magazine (Oct. 28, 2013)

44Realty Corporation is Southern California’s leader in independent real estate services, delivering an exceptional experience to our customers

We have a clear vision of who we are and what we want to do for our clients, ourselves, and the world we share. While the focus of that vision is helping people buy and sell their homes, the scope is far greater.

No other real estate team can offer you this level of personal attention, powerful resources and proven skills. It would be our pleasure to assist you in your next real estate transaction.

Richard Kirchnavy

California Real Estate Broker

CalBRE 01016593

Janine Kirchnavy

California Real Estate Broker

CalBRE 01048899

1425 W Foothill Blvd #237

Upland CA 91786

(909) 945-3662

www.44Realty.com

How is the Shadow Inventory Affecting California Real Estate? Janine and Richard Kirchnavy

Is the shadow inventory threat overstated in California?  The Wall Street and several media outlets are continuously reporting that a large shadow inventory of potential foreclosures remains a threat to the housing market. But the paper says:

There’s only one problem: the data doesn’t show it.
For the past three years, a number of housing pundits have issued ominous warnings about the millions of underwater mortgages, modified mortgages, and delinquent mortgages that threatened to drag down the housing market. But efforts to modify and refinance mortgages—together with surprisingly strong demand from investors for distressed properties—have whittled down this shadow supply.

44 Realty Corporation is Southern California’s leader in independent real estate services, delivering an exceptional experience to our customers

We have a clear vision of who we are and what we want to do for our clients, ourselves, and the world we share. While the focus of that vision is helping people buy and sell their homes, the scope is far greater.

No other real estate team can offer you this level of personal attention, powerful resources and proven skills. It would be our pleasure to assist you in your next real estate transaction.

Richard Kirchnavy

California Real Estate Broker

CalBRE 01016593

Janine Kirchnavy

California Real Estate Broker

CalBRE 01048899

44 Realty Corporation

1425 W Foothill Blvd #237

Upland CA 91786

(909) 945-3662

www.44Realty.com

Tricks and Tips for Homeowners facing a California Short Sales by Janine and Richard Kirchnavy

Tips and Tricks for Homeowners facing a California Short Sales.  If you are considering a Short Sale, Call us today Richard and Janine Kirchnavy (909) 945-3662

 

1. Hire a REALTOR®! Not all real estate agents are Realtors.  We are members of the NATIONAL ASSOCIATION OF REALTORS® and voluntarily pledge to abide by the strict code of professional ethics.
2. Take a Proactive Approach The short sale process can take a lot of time and effort on your part, so taking a proactive approach to your short sale may help you complete the transaction as quickly and painlessly as you can.
3. Knowledge is Your Friend The short sale process may be new to many sellers and is much different than a normal transaction.  It is important to know what you are getting yourself into.
4. Do Your Homework As early as you possible, determine your lender’s short sale requirements and whether you satisfy those requirements.
5. Get a Good Price For Your Home Getting a good sales price not only improves your chances of getting your short sale approved, but may also have other advantages.
6. Submit a Complete Short Sale Package Provide your lender with a complete short sale package containing all the required information and documentation in an organized manner.
7. Be Patient But Persistent
8. Avoid Scam Artists Be wary of scams.  We will help you avoid getting duped.

If you are considering a short sale, call us today! (909) 945-3662

44Realty Corporation is Southern California’s leader in independent real estate services, delivering an exceptional experience to our customers We have a clear vision of who we are and what we want to do for our clients, ourselves, and the world we share. While the focus of that vision is helping people buy and sell their homes, the scope is far greater. No other real estate team can offer you this level of personal attention, powerful resources and proven skills. It would be our pleasure to assist you in your next real estate transaction. (909) 945-3662
Richard KirchnavyCalifornia Real Estate Broker, CalBRE 01016593 

Janine KirchnavyCalifornia Real Estate Broker, CalBRE 01048899

1425 W Foothill Blvd #237Upland CA 91786

(909) 945-3662

www.44Realty.com

44Realty - Listing and Selling Homes in Southern California - Janine and Richard Kirchnavy

Providing you with comprehensive, high-quality customer service is our top priority. So when you decide to buy or sell your home, please contact us - (909) 945-3662 and let's get started!

Professional Affiliations:

· National Association of Realtors (NAR),
· California Association of Realtors (CAR),
· Inland Valley Association of Realtors (IVAR)
· Multi Regional MLS (MRMLS)Victor Valley MLS (VVMLS)
· West End Real Estate professionals (WEREP)
· REO Certified - Equator.com
· REO Certified - RES.Net
· REO Boss Certified
· Default School Certified
· Accredited REO Agent™
· Certified Probate Real Estate Specialist
· Short Sale Specialists Certified HAFA
· Certified Probate Real Estate Specialists

44Realty Corporation is Southern California’s leader in independent real estate services, delivering an exceptional experience to our customers

We have a clear vision of who we are and what we want to do for our clients, ourselves, and the world we share. While the focus of that vision is helping people buy and sell their homes, the scope is far greater.

No other real estate team can offer you this level of personal attention, powerful resources and proven skills. It would be our pleasure to assist you in your next real estate transaction.

Richard Kirchnavy 

California Real Estate Broker

CalBRE 01016593

Janine Kirchnavy

California Real Estate Broker

CalBRE 01048899

44 Realty Corporation

1425 W Foothill Blvd #237

Upland CA 91786

(909) 945-3662

www.44Realty.com

The Kirchnavy Team and 44Realty

44Realty Corporation is Southern California’s leader in independent real estate services, delivering an exceptional experience to our customers

We have a clear vision of who we are and what we want to do for our clients, ourselves, and the world we share. While the focus of that vision is helping people buy and sell their homes, the scope is far greater.

No other real estate team can offer you this level of personal attention, powerful resources and proven skills. It would be our pleasure to assist you in your next real estate transaction.

Richard and Janine Kirchnavy (909) 945-3662

Richard Kirchnavy
California Real Estate Broker
CalBRE 01016593

Janine Kirchnavy
California Real Estate Broker
CalBRE 01048899

44Realty Corporation
1425 W Foothill Blvd #237
Upland CA 91786

(909) 945-3662
www.44Realty.com

California Real Estate by Brokers Janine and Richard Kirchnavy

Probate and Trust Sales, Short Sales and Pre Foreclosures, REO & Bank Owned Property

by Brokers Richard and Janine Kirchnavy 

(909) 945-3662

We have been assisting homeowners market and sell real estate and helping home-buyers find their dream homes since 1989. We have the network, financial resources, technology and real estate experience to provide you unparalleled service and help you reach your desired results.

We specialize in listing and selling single-family homes, condominiums and residential income properties 1-4 units, including Standard Sales, Probate and Trust Sales, Short sales and Pre Foreclosures, REO and Bank-Owned homes and HUD properties. Serving the community's real estate needs in the Tri-County area including: San Bernardino County, Riverside County and Los Angeles County.

We take pride in providing very personal service; understanding that buying or selling a house is probably not something that you do every day. Our clients' needs are seldom identical. Our philosophy is to provide customized solutions. We believe that the ability to look at things from your point of view is vital to a smooth sale. That means flexible service.

Richard Kirchnavy, California Real Estate Broker, BRE 01016593

Janine Kirchnavy California Real Estate Broker, BRE 01048899

(909) 945-3662

For more information visit our website: www.44Realty.com 

Richard and Janine Kirchnavy
California Real Estate Brokers
(909) 945-3662