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You can contact me directly on my cell phone at (818) 624-0941 or go to my listing and community information website at http://www.harogharbigi.com - You've made the first step in contacting the local real estate expert!

Could first time home buyers get a helping hand with subprime difficulties?

San Francisco Chronicle: Subprime loan aid possible
By Matthew Yi
4/24/07
A state Assembly committee approved a bill that will create a fund that homeowners with subprime mortgages can use to refinance their loans.

Check information on any house from your cell phone?

The following is a article By Rocky Mountain News website:

April 9, 2007

"

Using your mobile device to get information about real estate is a hot technology, and Denver entrepreneur James Eberhard is taking advantage with his launch of HouseFront.

Eberhard's latest venture is a mobile service that allows users to find property values and other information on more than 77 million homes in the U.S.

 

Here's how it works: You're in front of a home you want to know more about. You type in the home's address, then text message it to the short code 46873 (it spells house), and HouseFront will send a response that includes an estimated value, along with the number of bedrooms and bathrooms, square footage, last sold date, and sales trends for that neighborhood.

 

The service is free, though text messaging rates for your mobile carrier apply.

 

"From any mobile phone, just text in the address, and send it to the short code HOUSE, and we give you back (that information)," said Eberhard, 28, who sold his previous business - 9Squared, a provider of downloadable ringtones - to U.K.-based Monstermob Group PLC for $40 million in 2004.

 

Eberhard said HouseFront, which has an online database at HouseFront.com, took nine months to develop.

 

"The information comes from public records, and we use a number of evaluation tools" to value properties, he said. "We take the public records and combine it with MLS (multiple listing service) data, everything from beds, baths, square footage, year built.

 

"We looked at the housing market and how it's moved over the past 10 years, and the biggest thing that helps people is access to information.

 

"The Internet is great, but would you rather be looking at picture on a screen or be sitting out front of the home looking at the information?"

 

Eberhard said the service is not meant to be a substitute for a Realtor.

 

"You still need to have someone who can take you into the house. We can give a good depiction through MLS and public records, but we can't tell you whether someone has knocked down a wall in the home."

 

Users of the service can create a free account at the Web site, which will maintain an online database of properties researched so a userSource: Homefront, Rocky Mountain News can do comparison shopping.

 

How it works

 

House Front is a mobile service that allows users to find propertyvalues and other information on more than 77 million homes.

 

Consumer sends in property address to 46873, or HOUSE.

 

Reply then is sent with estimated house value, house details\ and margin of error.

"

 

 

Local Real Estate Agent Links...

SERVING...
Glendale, Burbank, La Crescenta, Montrose, La Canada, Tujunga, Sunland
and surrounding areas.

 

Haro Gharbigi
4005 Foothill Boulevard
La Crescenta, CA 91214
Phone: (818) 624-0941

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30-year fixed rate at 5.72%; 10-year Treasury yield at 4.65%

According to the Inman News Aricle dated Monday, April 02, 2007

 

"Long-term mortgage interest rates continued higher Friday, and the benchmark 10-year Treasury bond yield rose to 4.65 percent.

The 30-year fixed-rate average gained to 5.72 percent, and the 15-year fixed rate climbed to 5.45 percent. The 1-year adjustable held at 5.33 percent.

The 30-year Treasury bond yield stayed at 4.84 percent.

Rates are current as of 7:15 p.m. Eastern Standard Time.

 

Mortgage rate figures are according to Bankrate.com, which publishes nightly averages based on its survey of 4,000 banks in 50 states. Points on these mortgages range from zero to 3.5.

 

In other economic news, the Dow Jones Industrial Average gained 5.6 points, or 0.05 percent, finishing at 12,354.35. The Nasdaq was up 3.76 points, or 0.16 percent, closing at 2,421.64.

Stock and bond figures are current as of 7:30 p.m. Eastern Standard Time."

 

Overnight real estate rates sink

30-year fixed rate at 5.7%; 10-year Treasury yield at 4.6%

 

 

According to Bankrate.com, which publishes nightly averages based on its survey of 4,000 banks in 50 states. Points on these mortgages range from zero to 3.5 long-term mortgage interest rates were down Tuesday, and the benchmark 10-year Treasury bond yield stayed at 4.6 percent.

The 30-year fixed-rate average dipped to 5.7 percent, and the 15-year fixed rate slipped to 5.43 percent. The 1-year adjustable was down at 5.32 percent.

The 30-year Treasury bond yield held at 4.8 percent.

Rates are current as of 7:15 p.m. Eastern Standard Time.

 

The Dow Jones Industrial Average lost 71.78 points, or 0.58 percent, finishing at 12,397.29. The Nasdaq was down 18.2 points, or 0.74 percent, closing at 2,437.43.

All figures are current as of 7:30 p.m. Eastern Standard Time.

 

Interest Rates Continue to Dip Lower

By: Haro Gharbigi (REALTOR)

Interest rates across the country continue to go down the escalator causing home sales to rise in some Southern California markets. Sales in La Crescenta, Sunland, La Canada, Tujunga, Glendale, Burbank, and Surrounding areas have all picked up due to rate locks in the low 6%'s and even some in the 5% range.

Creative financing loans are still a major contributor for the prices in these areas holding fairly steady. The Holidays surprisingly have not had too much drag on the sales as they normally do. People don't seen to mind moving this year especially with the warm weather we've been having lately this time of year.

According to some sources the rates may continue to go lower which could have a impact on home prices either staying strong or maybe even turn the other way and go higher. This could cause an increase in speculative buying which has been slow in 2006, although I don't think we will see the same levels as we did in 2003 and 2004.


Mortgage Type Today Last Week Change
30-yr Fixed 5.58% 5.66% -0.08%
15-yr Fixed 5.34% 5.43% -0.09%
30-yr Jumbo 5.95% 6.01% -0.06%
5/1 ARM 5.39% 5.48% -0.09%
5/1 Jumbo ARM 5.60% 5.67% -0.07%


View Homes for sale in La Canada, Tujunga, La Crescenta, Sunland, Glendale, Burbank, and surrounding areas.

Market Statistics for La Crescenta 1/13/2006 to 7/12/2006

Market Statistics Report Listings as of 07/12/06
at 2:14pm Property Type ResidentialProperty Subtype Single Fam Res Detch Area
LaCrescenta/Glen-MonStatuses Active, Sold (1/13/2006 to 7/12/2006) Residential
2- Bedrooms 3 Bedrooms 4 Bedrooms 5+ Bedrooms All Bedrooms Active #Units 16 54
22 5 97 Average List Price $617,156 $762,644 $954,884 $1,204,980 $805,047
Average Market Time 48 52 59 43 53 Average Square Feet 924 1621 2151 3418 1719
All Off Market #Units 41 63 24 7 135 Pending #Units 0 0 0 0 0 Average List Price
$0 $0 $0 $0 $0 Average Market Time 0 0 0 0 0 Average Square Feet 0 0 0 0 0 Sold
#Units 41 63 24 7 135 Dollar Value $24,891,500 $47,899,914 $21,489,950
$8,584,805 $102,866,169 Average List Price $611,655 $765,408 $903,013 $1,215,257
$766,501 Average Sold Price $607,110 $760,316 $895,415 $1,226,401 $761,972
Average Market Time 58 55 59 42 56 Average Square Feet 908 1587 2160 3101 1561 %
of List Price 99.26 99.33 99.16 100.92 99.41 Not Pending or Sold #Units 0 0 0 0
0 Average List Price $0 $0 $0 $0 $0 Average Square Feet 0 0 0 0 0 Equal
Opportunity Housing * All information deemed reliable, but not guaranteed.
Information has not been verified, is not guaranteed, and is subject to change.