February Ends with Interest Rates Down….just a bit!

The rate for 30-year fixed rate mortgages ended the month at an average of 6.26 percent, down slightly from the week before average of 6.28 percent. A year earlier, the average was 5.69 percent. In terms of the difference in payments every 1,000 you borrow would cost $0.13 less at 6.26 percent than at 6.28%. That is “just a bit!”

The average for 15-year fixed loans slipped, too. But almost not even a bit. It was 5.91 percent vs. 5.92 percent the week before. A year ago, the 15-year rate was 5.22 percent.

Five-year adjustable-rate mortgages averaged 5.96 percent, up a basis point from the week before. But the average on one-year ARMs dipped from 5.36 percent to 5.32 percent.
According to Freddie Mac’s chief economist, Frank Nothaft, we are going to see more of the same when he says, "Over the long term, we expect

Check out my new listing at www.jalone.com

January Numbers for Sacramento Real Estate

As I do each month, I take a look at the volume of resale homes sold, median price changes and the existing inventory of homes on the market. No surprises in January, volume down from last month and last year, no double digit increases in prices and higher levels of inventory. Take a look at my analysis, comments and even a prediction on my news page: "Slow January in Sacramento Real Estate."

Zillow – Is the end Near?

As I reported on February 15th, Zillow’s website provides home valuations for free to anyone who visits . The company claims to have values on over 60 million homes.

Zillow was co-founded by Richard Barton the creator or Expedia.com travel services.

Since their launch I have read articles and forum posts stating the values on Zillow are low, high or just right….take your pick. I think it is a cool service. It displays aerial pictures of the neighborhood and has links to other valuable information.

Now that we don’t have to contact a Realtor to get a home value, does this bring the Realtor profession closer to an end? No way! Clients have been able to get information from the Internet for some time and will get even more in the future. What they do not get from the Internet is service. Realtors provide service!

Tools and resources like Zillow and the various access vehicles to the MLS data base separate the women from the girls. Realtors who focus on performance and service will find the Zillow’s of the Internet will make our jobs better.

See my web site for more news about the Sacramento Real Estate market - www.jalone.com.

Mortgage Interest Deduction and New Listing

Check out my new listing in West Roseville, it is a 3,155 square foot, 5 bedroom, 4 full bath and a great pool. In addition my home page BLOG has an update on what is happening with the mortgage interest deduction and new income tax laws. Check it out at www.jalone.com.

Selling a Home: Remove Clutter!

I just published my latest article, Selling a Home: Remove Clutter! It is written to help sellers prepare their homes for the quickest sale at the best price. Here is a brief teaser:

Most sellers understand keeping a house clean and picked-up but have difficulty understanding how to really remove clutter. It is more than keeping the house neat. Try some of the following tips and impress your agent and, more importantly, potential buyers. (more)

If you want to read the full article you can find it and others on my website at jalone.com.

Julie Jalone 

California January Home Sales

I just posted an update on what has happened during January in the California real estate market. Take a look at my web site BLOG at www.jalone.com.