by Bob Taylor Properties, Inc. on March 10, 2010
If your mortgage is set to adjust this year, the smart move may be to let it. Today's conforming mortgages are adjusting lower than ever before -- as low as 3 percent. It may not be what you expected when you signed for your ARM several years ago.
The reason why ARMs are adjusting lower is because of how they're made.
When conforming adjustable-rate mortgages adjust, they adjust according to a pre-determined formula. The formula is the sum of a constant and a variable. The constant is usually 2.25 percent and the variable is a daily-changing interest rate called LIBOR.
The formula looks like this:
New Mortgage Rate = LIBOR + 2.250 percent
LIBOR is an acronym for London Interbank Offered Rate. It's an interest rate at which banks borrow money from each other. In Fall 2008, when Lehman Brothers fell and sparked a global banking fear, LIBOR spiked as the risk of inter-bank borrowing jumped.
Since then, however, LIBOR is down.
Normalcy is returning to banking and the timing couldn't be better for homeowners with ARMs. 15 months ago, a homeowner's ARM may have adjusted to 6 1/2 percent. Today, that same ARM falls to just above 3.
As a strategy play, it might make sense to let your ARM adjust. Or, because fixed rates are still near 5 percent, converting that ARM to a long-term fixed-rate product might make sense, too. The decision is a balance between how low do you want your payment, and how long might you live in your home.
The longer you stay, the more it might make sense to switch to fixed-rate, even though ARM rates are so low.
If you've got an adjusting ARM, talk to your loan officer about your choices. Once March ends and the Fed withdraws its mortgage market support, mortgage rates may rise and the fixed-rate option may be gone.
by Bob Taylor Properties, Inc. on March 9, 2010
City: Eagle Rock
Listing Price: 1274500.00
Bedrooms: 4.00
Bathrooms: 2.00
Listing Number: 22134532
Marketing Remark: PRICE REDUCED! TWO HOUSES THREE ADJOINING LOTS! SPECIAL PROPERTY! EAGLE ROCK!! NORTH OF COLORADO!!! EXCLUSIVE HILL DRIVE LOCATION!!!Hilltop Swiss Chalet with Amazing Views. WHIMSICAL and ENCHANTING is what best describes the character and charm of this fairytale like property. Situated on a 20,000 sqft lot one can only imagine the possibilities this property will boast. A must see. ATTENTION! ATTENTION!!ATTENTION!!! This property is sold in conjunction with two adjoining properties; 5341 Hilltop Road (1 bed one bath with loft and balcony) parcel# 5671001024 lot size 7,546 sq.ft and parcel# 5671001003 lot size 6,109 sq.ft. THREE ADJOINING LOTS!!! TWO HOUSES!!! ONE PRICE!!! In total over 3/4 of an acre (34,000 sg.ft.) of land. AMAZING OPPORTUNITY! INVESTORS WELCOME! Please see pictures and attached documents (plat map)for additional property information and details.
You are viewing a live feed of new listings from ITECH Multiple Listing Service. Would you like to see this property? Please call Bob Taylor Properties at 323.257.1080 for an appointment to see this home or any other home currently on the market.
by Bob Taylor Properties, Inc. on March 9, 2010
City: Los Angeles
Listing Price: 850000.00
Bedrooms: 3.00
Bathrooms: 3.00
Listing Number: 22134513
Marketing Remark: Looking for a newer home with a guest house? This is it. This 2006 built Mediterranean home is perfect for an extended family. The main house is divided into two wings. The first level has a bedroom, a full bath and a family room with a kitchenette. The second level leads you to a sunny great room with an open kitchen, balcony, city views and a gas fireplace. Two bedrooms including a master suite with an incredibly luxurious bathroom with tub, shower, bidet and views. The master has its own balcony and a walk-in closet. The 3rd bedroom is serviced by a full bath. Stainless steel appliances, use of beautiful stone throughout bathrooms and kitchen, high end fixtures make this a truly special home. The guest house is behind the main home and has a spacious living room, 1 bedroom and kitchen. It has it's own fenced in yard with a deck accessible through the back bedroom. This home is just minutes from Los Feliz, Glendale and Silverlake and is located in desirable Atwater Village.
You are viewing a live feed of new listings from ITECH Multiple Listing Service. Would you like to see this property? Please call Bob Taylor Properties at 323.257.1080 for an appointment to see this home or any other home currently on the market.
by Bob Taylor Properties, Inc. on March 9, 2010
City: Los Angeles
Listing Price: 697000.00
Bedrooms: 5.00
Bathrooms: 4.00
Listing Number: 12135569
Marketing Remark: VIEW....VIEW...VIEW... VIEW...VIEW...VIEW... TOP OF THE HILL............ NEW HOME. 5 bedrooms,4 bathrooms. All appliances included. Security alarm. Wet bar, Attached two car garage (480 square feet). 2 fire places. Hidromassage tub in master bathroom. You must see this property. Culdesac.
You are viewing a live feed of new listings from ITECH Multiple Listing Service. Would you like to see this property? Please call Bob Taylor Properties at 323.257.1080 for an appointment to see this home or any other home currently on the market.
by Bob Taylor Properties, Inc. on March 9, 2010
City: Los Angeles
Listing Price: 636000.00
Bedrooms: 4.00
Bathrooms: 3.00
Listing Number: 12130656
Marketing Remark: Fabulous architecturally interesting w/numerous new upgrades: all copper plumbing, roof, copper gutters, electrical, recessed lighting, restructured foundation, dual paned windows, C/A;F/A, tankless water heater, killer kitchen w/Subzero, Bosch dishwasher,Wolf range, granite counters, cabinets galore, extra prep sink or wet bar,redwood deck, etc. etc. The 180 degree views alone are breathtaking!! The lower level (all permitted) is a huge Master Suite/Retreat/family room w/bamboo & porcelain floors complete with Jacuzzi tub in the full bath! The rear private patio and yard is perfect for entertaining or your morning coffee!
You are viewing a live feed of new listings from ITECH Multiple Listing Service. Would you like to see this property? Please call Bob Taylor Properties at 323.257.1080 for an appointment to see this home or any other home currently on the market.
by Bob Taylor Properties, Inc. on March 9, 2010
City: Silver Lake
Listing Price: 550000.00
Bedrooms: 2.00
Bathrooms: 2.00
Listing Number: 12135188
Marketing Remark: Nestled behind the famed Silverlake Reservoir, the Silverlake Mix Lofts offer a wonderful city living for your style conscious buyer. The multi-story unit comes with a 2-car attached garage with direct access, in-unit laundry, central air and heat, large windows displaying the hillside views, dark pergo floors and much more. High ceilings adorn the home with a balcony that offers great outdoor space. An attractive, open kitchen comes with stainless steel appliances and marble counters. One bedroom floats above the dining room and the additional open spaces can be used for another bedroom, work or studio. The building was newly built in 2005 with the most contemporary and chic architectural design. Markets, restaurants, bars, dog park, freeways and Los Angeles landmarks are right around the corner. Unit is pre-wired for an alarm system. Ideal for a small family who loves the city life or for someone who wants to conduct business from home.
You are viewing a live feed of new listings from ITECH Multiple Listing Service. Would you like to see this property? Please call Bob Taylor Properties at 323.257.1080 for an appointment to see this home or any other home currently on the market.
by Bob Taylor Properties, Inc. on March 9, 2010
City: Los Angeles
Listing Price: 500000.00
Bedrooms: 2.00
Bathrooms: 1.00
Listing Number: 22135607
Marketing Remark: A-Z House - The Los Angeles Home and Workspace of Contemporary Artist Andrea Zittel -- Compact, open, and livable, this Spanish influenced California bungalow has been re-tooled for efficiency and comfort. Sited on a hillside on the Southwestern slope of the San Rafael Hills, between Eagle Rock and the heart of bustling Highland Park, this urban oasis offers fine detailing and bleeding-edge design influences - at a very popular price point. Completely renovated, the property has a contemporary feel and offers open plan living and a true connection with the outdoors. Outdoor spaces include terraces, patios, mature trees, vegetable garden and a cantilevered deck. The mechanicals have been reworked and everything is ready to welcome the new owner.
You are viewing a live feed of new listings from ITECH Multiple Listing Service. Would you like to see this property? Please call Bob Taylor Properties at 323.257.1080 for an appointment to see this home or any other home currently on the market.
by Bob Taylor Properties, Inc. on March 9, 2010
City: Los Angeles
Listing Price: 495000.00
Bedrooms: 3.00
Bathrooms: 3.00
Listing Number: 22135640
Marketing Remark: BRAND NEW - WITH A VIEW! LESS THAN $250/SQFT! MODERN FAMILY LIVING ON A QUIET STREET. OPEN FLOOR PLAN WITH GREAT-ROOM! BEAUTIFUL OPEN KITCHEN FEATURES ITALIAN MARBLE & SLATE, MAPLE CABINETS W/ SELF-CLOSING DOORS. STAINLESS STEEL FINSIH APPLIANCES. LARGE KITCHEN ISLAND. RECESSED DOWN LIGHTS & PENDANT LAMPS PROVIDE GREAT TASK LIGHTING. LARGE BALCONY-DECK WITH GREAT VIEWS! PRIVATE MASTER SUITE W/MARBLE COUNTERS, DUAL SINKS, SLATE AND GLASS BLOCK IN OVERSIZED SHOWER. WALK-IN CLOSET AND PRIVATE BALCONY. LARGE CLOSETS IN EACH BEDROOM & PLENTY OF EXTRA STORAGE IN BONUS AREAS NOT COUNTED IN SQ FOOTAGE. JACUZZI TUB IN MAIN BA. LAUNDRY ROOM DOWNSTAIRS WITH BEDROOMS. FIRE SPRINKLERS, SECURITY CAMERA AND WIRING. WHAT A GREAT BUY! JUST MINUTES TO DOWNTOWN, CAL STATE L.A. AND FREEWAYS. CLOSE TO SCHOOLS AND SHOPPING.
You are viewing a live feed of new listings from ITECH Multiple Listing Service. Would you like to see this property? Please call Bob Taylor Properties at 323.257.1080 for an appointment to see this home or any other home currently on the market.
by Bob Taylor Properties, Inc. on March 9, 2010
City: Los Angeles
Listing Price: 451000.00
Bedrooms: 3.00
Bathrooms: 1.00
Listing Number: 22134118
Marketing Remark: Located in the hills of Garvanza, this charming home sits overlooking the neighborhood below. Full of light, this remodeled home includes: newer electrical, copper pluming, remodeled kitchen, large laundry room, newer double pane windows, blinds, newer carpet, tile and much much more! A large back patio off of the kitchen and back room creates a perfect environment for entertaining. Fenced in yard is perfect for dogs and separate parking. A wonderful place to call home with old world charm mixed with modern upgrades.
You are viewing a live feed of new listings from ITECH Multiple Listing Service. Would you like to see this property? Please call Bob Taylor Properties at 323.257.1080 for an appointment to see this home or any other home currently on the market.
by Bob Taylor Properties, Inc. on March 9, 2010
City: Los Angeles
Listing Price: 446900.00
Bedrooms: 4.00
Bathrooms: 2.00
Listing Number: 12135476
Marketing Remark: Great property location next to the hills, secluded area three lots, property needs TLC. Bonus rooms and bathroom.
You are viewing a live feed of new listings from ITECH Multiple Listing Service. Would you like to see this property? Please call Bob Taylor Properties at 323.257.1080 for an appointment to see this home or any other home currently on the market.
by Bob Taylor Properties, Inc. on March 9, 2010
In November, Congress extended and expanded the First-Time Home Buyer Tax Credit program to include a subset of "move-up" buyers -- homeowners that have owned and lived in their home for 5 of the last 8 years.
The credit ranges up to $8,000 per buyer. There's now just 7 weeks left to take advantage.
To be eligible, home buyers must be under contract for a new home no later than April 30, 2010, and must be closed no later than June 30, 2010.
In addition to meeting the deadline dates, there's a basic set of requirements to be tax credit-eligible:
- You can't purchase the home from a parent, spouse, or child
- You can't purchase the home from an entity in which the seller is a majority owner
- You can't acquire the home by gift or inheritance
- Each buyer in the purchase must meet eligibility requirements
There's other criteria, too.
For one, the sales price on the subject property cannot exceed $800,000. Homes sold for more than $800,000 are ineligible for the tax credit. Furthermore, households earning more than $125,000 as single-filers, or $225,500 for joint-filers, are ineligible.
You can read the complete eligibility requirements at the IRS website, or, you may just find it simpler to speak with your accountant about it. There are some nuances in qualifying for and claiming the tax credit on your returns and getting a professional's opinion is always wise.
And lastly, don't forget that government's tax credit program is a true tax credit. It's not a tax deduction. This means that a tax filer whose "normal" tax liability is $3,500 and who is eligible for $8,000 in credit will receive a $4,500 refund from the U.S. Treasury.
If you're currently in the House Hunt, mark your calendar for April 30, 2010. It's 7 weeks away and you can be sure that as the date gets closer, buyer traffic is going to increase. You may find sellers more willing to negotiate today than several weeks from now.
by Bob Taylor Properties, Inc. on March 8, 2010
City: Los Angeles
Listing Price: 595000.00
Bedrooms: 5.00
Bathrooms: 2.00
Listing Number: 12135394
Marketing Remark: Wilderness calling! Spectacular city and mountains views; 1909 American foursquare home perched on Eagle Rock hilltop. Profile shows five bedrooms, two baths, but is being used as three large bedrooms, and two huge bathrooms. Sited high above the street this spacious home offers seclusion and breathtaking views up the foothill community you must see.
You are viewing a live feed of new listings from ITECH Multiple Listing Service. Would you like to see this property? Please call Bob Taylor Properties at 323.257.1080 for an appointment to see this home or any other home currently on the market.
