The Real Estate Market Is Changing For The Good

The San Fernando Valley Local Market is Rebounding, Sales of Single Family Homes Increased For The Four Consecutive Month in April, Posting The Year-To-Year Gain in 30 Months. acording to Southland Regional Association of Realtors.

Since September 2005, Has The Monthly Total Been Higher Than The Prior Year. The 547 Sales Closed in April Was Up Dramatically Compared To April 2007 with 100 Transactions, or 22.4% Higher.

The April 2008 total sales was up 31.5% Above March same year, It Has Been Climbing Month After Month Since January 2008, Spring Home Buying Season Gets Under Way and Lenders Start Writing Loans Again.

Home Buyers Started Noticing The Opportunities in Investing In Real Estate While The Prices Remain Low, Particularly First Time Buyers and Investors.

April 2008 Median Home Price Was $465,000 Comparing to $655,000 in June 2007. The Number of Active Listings At The End of April was 7234. There is a 10.4 Month Supply of Inventory of Properties. We Are In A Buyer's Market.

Ben Bernake Declared Today 06/11/08 That Interest Rates Will Increase On The Next Fed's Meeting.

Subprime Mortgages

If you have a mortgage loan that is going to reset this year, or on either 2008 or 2009, now is the best time to refinance since the interest rate is below 6%. You can either refinance for 30, 20 or 15 years fixed and you'll live with a peace of mind.

At least for this year and probably up to the spring of 2008, the rates are going to be the same. Refinancing from two loans into one when you have equity will be of a financial benefit to you by lowering the mortgage payment.

I hope you take advantage of the low interest rate.