3/30/2013
Sunset
Tomorrow is Easter Sunday, and though it is foggy now at my house in Monarch Beach California, the sunset was beautiful. Here in paradise there were few open houses and only the grocery store was busy. The photograph above is one of a few I will share from a trip to Africa. I love the ten minutes as the sun goes down, when we all ought to say a prayer and be thankful. Happy Easter tomorrow or Passover, I'm busy cooking for my crew tomorrow.
Caroline Gerardo
3/29/2013
Mortgage Rates Steady
American Flag in Monarch Beach, California |
Cheeta on termite mound watching the market? |
Pride of Lions
- Mortgage rates
push slightly higher today. The trading session for bond markets including
Mortgage backed securities, closed early on Thursday in honor of today’s
Good Friday holiday. Although I’m Catholic, I wonder how a religious
holiday stops business nationwide. Today fundings and wires are closed
early, despite the fact that it is end of the month which is typically the
busiest day for home loan closings. Assume all bond traders have left the
building and are relaxing in their second home in the Hamptons. I have
three loans to close this morning and hope their dreams of moving into
houses in Dana Point, Newport Coast and Newport Beach do happen over the
Easter weekend.
- Though there is political bad news in play, none of the worries about run on banks in Cyprus bailout seem to shake and tremble the ten year bond traders. Trading levels rocked back and forth all day yesterday. Best executions on interest rates (with one point) for 30yr Fixed loans hover at 3.625% with the minor weakness being seen in the form of moderately higher borrowing costs. Normally before a three day weekend traders would raise rates, increase margins and protect the igloo to be able to get out of town safely for the holiday. Still there are worries about the economics in Italy and the EU. A lion or a cheeta lurking on the savannah?
- Mortgage
rates remain low. More money and lenders are jumping into Jumbo and Super
Jumbo ARMS with interest only payments and even qualify without taxes for
the self -employed (of course priced for that risk)
- CONFORMING
LOAN RATES THIS MORNING:
- Rates change
all the time, this is not an offer to lend you money
- 30YR FIXED
- 3.75% (APR 3.811), 3.625 % (APR 3.789) coming back into view
- FHA/VA -
3.375 (APR 3.499)
- 15 YEAR
FIXED - 3.00% (APR 3.129) coming back into view.
- 5 YEAR
ARMS - 2.625 (APR 2.713)
- Of course
there are pricing adds for: FICO, property type, time period for lock,
loan to value, use, dollar amount, and the proverbial kitchen sink.
Lock/Float Worries for April and May 2013
- Rates are moderately
higher but consistently since hitting their all-time lows in September and
October 2012.
Other factors that prevent mortgage loans from sliding
back to lower numbers are worldwide concerns about the EU bailouts and still
high unemployment. We aren’t out of the woods with those ugly monkeys Toto, not
yet.
Though some would wish we were Japanese mortgage rates of
recent history (less than 2%) with that comes great sacrifice for the whole.
California appears to be miraculously recovering in coastal areas, with values
rising. Still there are homeless families on the corner near my house in
Monarch Beach with a cardboard sign about their financial troubles. We live in
such a beautiful community it is difficult to think about those who are facing
hardships this Easter.
I predict we will see another rate dip around Halloween
2013, perhaps triggered by some newly promoted news. It seems the story of the
day is interpreted into code that traders take or leave depending on who will
profit. I don’t mean to sound jaded.
What does that mean for the individual purchasing a home
in Orange County California? Rates are still great, you may not hit the perfect
day in the perfect moment but an eighth or a sixteenth isn’t going to break the
debt to income ratio and fail your plans. My advice, don’t pay a fortune for
your loan, just in case we see a dip again in October. Steady course, keep your credit on track and budget...
Laguna Beach Surf California, low tide |
3/28/2013
Cheap Home Green Maintenance Orange County
Sunflowers in my Home
A Dozen Cheap
HOME Green Maintenance Tips for Your Orange County Home
1. Used
coffee grounds I save
the grounds from my coffee to use in the following situations: battles against
ants that don’t care for the acid. Ground can be added to compost, in pots as
mulch, around the perimeter of your foundation. If you don’t drink coffee, Peet’s
or Starbucks coffee houses in Newport Beach, Laguna Beach ect will be happy to give
you a couple pounds for free. Supply them with some plastic container, even a
plastic trash bag and offer to save them from walking out to the dumpster.
2. Used
pool filter Diatomaceous earth also known as D.E., diatomite, or
kieselgur/kieselguhr, is a naturally occurring rock that feels like pumice, it
also comes in food grade This
fabulous substance is used in swimming pools to catch dirt and bacteria. Snails
and ants hate it because it cuts the gentle tissues of these creatures. If you
don’t have a pool, ask your neighbor or a local pool man to rinse out those
filters on your lawn or throw some of it in a plastic bag for you. This can
also be sprinkled around the perimeter of your home and garden to keep away
pests, snails and slugs. It must be re-applied as it tends to get washed into
your soil. I don’t advise you place in dog or pet sleeping areas as it has a
rough feeling to the sand. With so many homes that have pools in Orange County California it should be easy to get a bag of this free.
3. Plant
a lemon tree – put it
in a pot and do not overwater. Lemon juice is useful in many ways. Lemon juice
removes stains, irritates ants, has a deodorizing quality and is wonderful to make
lemonade. I have two types: a Meyer and a Bearrs Lemon. It is nice to have
different types to bear fruit at different times.
4. Start
a compost pile Layer grass clippings, only vegetable cuttings,
nothing with rust or pest spores, nothing that has animal or oil products
5. Four
products to clean everything: vinegar, borax, dawn soap, peroxide
6. Remove
firewood stored near the home. Firewood should be stored at least 18 inches off the ground at
least 2 feet from the structure. Putting firewood near your foundation is a welcome
sign for spiders, ants, termites and mice.
7. Check
your gas- and battery-powered lawn equipment to make sure it is ready for summer use. Clean equipment
and sharp cutting blades will make yard work easier Set the lawnmower to 4
inches high, your grass is stressed by giving it a short haircut. Water the grass
less and allow it to force the roots to search deeper. Once a week is enough in
coastal Orange County, let it look dry wilted then water. Don’t use pesticides
or herbicides on grass. Welcome birds by putting out some millet or sunflower black oil seeds
(“oilers”) have very thin shells, easy for virtually all seed-eating. Don’t put
out a huge portion, the purpose is to entice them to eat the bugs and grubs in
your grass.
8.
Change your filters every
season and once a month in the summer. Find a heating and cooling contractor
clean to service the outside unit of the air conditioning system. Clean coils
operate more efficiently, and an annual service call will keep the system
working at peak performance levels. I can recommend a couple contractors who
are fair in Orange County serving from Huntington Beach, Newport Beach, Laguna
Beach, Laguna Niguel and as far south as San Diego. And speaking of filters, the filter in the
hood of your kitchen range, run it in the dishwasher and grease is gone.
10. Simple repairs
include caulking
or installing a variety of inexpensive door/window insulating strips or
plastic sheeting. (You can even get help
from Uncle Sam on these items, but only until the end of this year.)
11. Extension cords are for temporary use only. Those cords sitting out in the yard that have weathered the winter or inside the house plugged in on a permanent basis need to go. Check all cords for potentially dangerous nicks or frayed spots. If you have fountains, check those as well for cracks as can be dangerous combination of electricity and water around your home.
11. Extension cords are for temporary use only. Those cords sitting out in the yard that have weathered the winter or inside the house plugged in on a permanent basis need to go. Check all cords for potentially dangerous nicks or frayed spots. If you have fountains, check those as well for cracks as can be dangerous combination of electricity and water around your home.
12.
Do not store Old paint near the furnace or water heater. It is a Big fire hazard. In
general it will be a dried up rock when you get around to opening the can. Peel
the labels off and put them in a notebook for future reference, or simply
writing the color and brand details for the paint used in each room on the back
of the light switch plate there. Or write the name and number and brand in an
email and send it to yourself label PAINT FILE. It is against the law to dump
wet paint in landfills and our local trash CR &R in Orange County has
information about when and how you can dispose this safely Information here: http://www.crrwasteservices.com/cities/orange/residents/
Conservation and rain in an ecosystem
3/24/2013
Rush to Buy
Full text of the original Responsible Homeowners Act
http://www.govtrack.us/congress/bills/112/s3085/text
Mortgage Regulation has not addressed every American, Californian or Borrowers / homeowners in Orange County. In the panic to make constituents happy, a bill was slapped together trying to address the largest number of distressed homeowners. It was hurry, hurry make somethong happen. In the end, the wind shifts and the rush was perhaps misguided.
Reminds me of a analogy, a distant story:
Remember when 31 flavors was to die for?
Then Hagen Daz opened and bubble gum ice cream was forgotten.
Cold Stone Creamery next delivered the smell in hand crafted flavors that we never knew we desired. We rushed to the mall to buy.
The market in ice cream shifted to Golden Spoon but now there are twenty yogurt places near where I live in Laguna Niguel. I can walk to any and choose. We've moved to Cherry on Top or some other brand... but what locals in Orange County really seem to crave is healthy Nektar, Active Culture, Banzai Bowls... who is next? Where will we run to next?
The mortgage business is like that right now. Buyers hurry to find a property to make an offer. They are a spin of emotions.
A borrower was rather dismayed today that their offer on a home in Newport Coast was "beat out" by someone else. They seemed panicked.
My advice twice today was, "nothing too good or too bad lasts too long." This market with no listings and frenzied offers will break into something new. Some other house will come along, it may not be the exact same calories or square footage, but don't go mad over ice cream or yogurt places. This might be a fad.
Something will come along that is great in its own time.
Mortgage rates aren't going fire sale "free yogurt" or some jump in the market, "gold bullion" - yet.
http://www.govtrack.us/congress/bills/112/s3085/text
Mortgage Regulation has not addressed every American, Californian or Borrowers / homeowners in Orange County. In the panic to make constituents happy, a bill was slapped together trying to address the largest number of distressed homeowners. It was hurry, hurry make somethong happen. In the end, the wind shifts and the rush was perhaps misguided.
Newport Beach sunset without any frozen yogurt
Reminds me of a analogy, a distant story:
Remember when 31 flavors was to die for?
Then Hagen Daz opened and bubble gum ice cream was forgotten.
Cold Stone Creamery next delivered the smell in hand crafted flavors that we never knew we desired. We rushed to the mall to buy.
The market in ice cream shifted to Golden Spoon but now there are twenty yogurt places near where I live in Laguna Niguel. I can walk to any and choose. We've moved to Cherry on Top or some other brand... but what locals in Orange County really seem to crave is healthy Nektar, Active Culture, Banzai Bowls... who is next? Where will we run to next?
The mortgage business is like that right now. Buyers hurry to find a property to make an offer. They are a spin of emotions.
A borrower was rather dismayed today that their offer on a home in Newport Coast was "beat out" by someone else. They seemed panicked.
My advice twice today was, "nothing too good or too bad lasts too long." This market with no listings and frenzied offers will break into something new. Some other house will come along, it may not be the exact same calories or square footage, but don't go mad over ice cream or yogurt places. This might be a fad.
Something will come along that is great in its own time.
Mortgage rates aren't going fire sale "free yogurt" or some jump in the market, "gold bullion" - yet.
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