Per the National Association of Home Builders, Housing permits — a future gauge for home building — reached its highest level since August 2008, rising 6.8 percent in July over the previous month, the U.S. Census Bureau reports. What’s more, building permits are up nearly 30 percent over year ago levels.
Lower Ventura Inventory
Have you noticed that fewer and fewer homes are on the market in Ventura? Then, most likely you noticed that it is happening all around the country too! Here’s a snap shot of the June 2012 inventory based on listings in realtor.com. (Realtor.com is a database of all MLS (multiple listing services) real estate databases around the country.)
It’s a Good Time to Buy!
With mortgage rates at an all-time low, you get more for your money than ever before!
The blue in this chart represents National 30-year fixed mortgage rates.
The green in this chart represents National 30-year fixed jumbo mortgage rates.
The red in this chart represents National 7/1 ARM mortgage rates.
Turned Down for a Refinance?
Here’s a great article recently article by the National Association of REALTORS:
When a lender says you don’t qualify for a mortgage refinance, you may be able to fix what’s wrong or find another lender willing to step up.
The five things that most often stop a refinance from going through:
- Your home is worth less than your current mortgage (also known as being underwater).
- Your credit score is too low.
- You can’t document your income.
- The lender thinks you’re not making enough money to cover your bills.
- Your home is listed for sale.
You can overcome some of those five issues fairly quickly, but others will take time.