Local Market Update 

Please email janicelee@bhhscal.com for your report - with subject line "City Report" - if your city is not listed above
SGV Market Overview
 

Mortgage Rates

U.S. averages as of

July 31, 2014:

 

30 yr. fixed:   4.12%

15 yr. fixed:   3.23%
1 yr. adj:        2.38
%

Janice Lee
Luxury Properties Director
540 South Lake Ave
Pasadena, CA 91101
 
Email me at:
Fact or Fiction: A Tax On Real Estate Sales 

 

On January 1, 2013, the Net Investment tax went into effect. Despite numerous articles and columns reminding consumers that this tax does not apply to every real estate sale, rumors continue to keep flying all over the country, claiming that the Health Reform legislation Congress enacted includes a sales tax on all real estate sales. While there is a tax, it does not apply to everyone.

 

Continued...

Five Great Reasons to Buy a Home Right Now 

 

The nature of market bottoms is that it's hard to tell one's occurred until prices and sales volume start to rise again. That's why the best time to buy is when market conditions suggest a bottom.
There's A Lot To Consider When Choosing A Home Inspector 

 

Many times, in the course of reviewing transaction files, I will read that an agent has recommended to the buyer that he or she should have the home inspected by a licensed home inspector. While one has to appreciate the earnestness of such advice, it is nonetheless at least a trifle amusing. This is because there is no licensing of home inspectors here in California. California is one of 21 states that do not regulate home inspection services via some sort of licensing mechanism.