When the Federal Reserve cut rates, many Newport Beach and Costa Mesa buyers expected mortgage rates to tumble—but they didn’t. Learn why rates barely moved, what it means for home buyers and sellers, and how Lucas Real Estate Group helps you navigate today’s market.
The National Consumer Reporting Association indicated a ‘vast majority’ of mortgage lenders will incur price increases ranging from 10% to 400% beginning in 2023. While not assured, and up to each lender, most of these costs are likely to be passed on to borrowers, along with ever-increasing mortgage rates.
This Fall, throughout Newport Beach, Costa Mesa and most Orange County communities, there are more and more active listings and less and less closed sales, leading to a flurry of price reductions and open houses, with sellers eager to make a deal. While by no means a “burst bubble”, there is a clear slowdown of … Continue Reading
Costa Mesa, Newport Beach and Orange County home buyers – in today’s tough lending and underwriting climate, it’s routine for lenders to check, double check, then check again your credit, employment and income. In other words, the “pre approval” is hardly the final check. Your lender is likely (in fact, required, if through Fannie Mae … Continue Reading
Those record-low interest rates, which are partly driving the real estate recovery, especially in locations such as Newport Beach and Costa Mesa, may be heading for the rearview mirror as the economy “recovers” and rates are back on the incline. According to Freddie Mac, the 30-year fixed-rate mortgage averaged 3.81 percent with an average 0.8 … Continue Reading
Here’s a neat graphic illustrating some of the financial perks of homeownership. Newport Beach and Costa Mesa real estate certainly bring even more perks to the table! Sources include the California Association of REALTORS®, the National Association of REALTORS®, the Federal Reserve and Energy Star. … -Devin Lucas Author Devin R. Lucas is a Real … Continue Reading
California’s median home price for March hit its highest level since May 2008, according to the California Association of REALTORS® (C.A.R.), based on information collected from more than 90 local REALTOR® associations and MLSs statewide. The statewide median price of an existing, single-family detached home climbed 13.7 percent from February’s $333,380 median price to $378,960 … Continue Reading
As you might imagine, a shorter term loan can translate into thousands of dollars saved on interest payments throughout the term. Lower rates and shorter terms save money for those able to manage the slightly higher monthly payment. Here’s a graphic showing a $250,000.00 loan; use any loan calculator or consult with your lender to … Continue Reading
As reported by the California Association of REALTORS® in the below article, as is no surprise to many home shoppers, especially in such great locations as Newport Beach and Costa Mesa, prices are up, up, up. A full 25.1 percent February 2013 v. 2012 and a full 7.2 percent just from the previous month, according to the California … Continue Reading
Newport Beach, Costa Mesa and Orange County Buyers Beware – As many prospective home buyers today are keenly aware, lack of inventory, all cash buyers and record low interest rates have created a competitive marketplace. A “seller’s market” of the past has returned to many above-water homeowners wanting to sell, especially in such great locations as Newport … Continue Reading
Lucas Real Estate
2901 West Coast Highway Suite 200 | Newport Beach | California | 92663-4023
info@lucas-real-estate.com | 949.478.1623 office
Devin Lucas BRE No. 01912302 | Courtney Lucas BRE No. 02015514
Lucas Real Estate, a dynamic full-service residential real estate team led by Devin Lucas, REALTOR®, Real Estate Broker, and Real Estate Attorney, and Courtney Lucas, REALTOR® and CPA, offers unparalleled expertise in Newport Beach and surrounding areas.
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