Mark Doran's Real Estate Page


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I'm reaching out to all my friends asking if they would post this important announcement letting people know about this FREE event.

Burbank Central Library. We have professionals in Law, Accounting, Loss Mitigation etc. All FREE! This will empower you. You will learn that you do not have to lose your home, call Mark at 1-800-638-1434 ext 501.

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Mortgage interest rates rose again this week, responding to a growing number of signals of an improving economy. Only a lackluster employment report for November kept them from increasing further.
The 10-year Treasury, a benchmark for fixed-rate mortgages, crested above 3% this week, and has risen by nearly a half-percentage point from November's daily low.


Been a while since I've written, but this I had to share: Home affordability is now above 70%!! With interest rates remaining at historically low levels, and house prices starting to stabilize, homeownership is within reach of more households than it has been for almost 20 years," said NAHB Chairman Bob Jones.


Fannie Mae recently announced it will offer real estate agents and brokers bonus incentives of $1,500 if the agent/broker represents a qualified home buyer who purchases a Fannie Mae-owned property listed on the company’s REO Web site,

Additionally, qualified homebuyers who will be owner-occupants can receive up to 3.5 percent of the final sales price, w...
Fannie Mae REO Homes For Sale -

Additionally, qualified homebuyers who will be owner-occupants can receive up to 3.5 percent of the final sales price, which can be used toward closing cost assistance, including a home warranty, if desired and available. Eligible offers must be submitted on or after Sept. 23, 2010, and must close by Dec. 31, 2010. The sale must be closed within 60 days of the offer being accepted. is the Official foreclosure website owned by Fannie Mae. Find Fannie Mae foreclosures exclusively on


I have a question. As we all know, this is a buyers market; but how long do you think we will continue in this market?


Mortgage rates are at record lows, again, and without clarity on the direction of the economy, seem likely to continue this sideways drift. Perhaps the economy will show more firmness in the coming weeks, and perhaps the election will provide greater clarity on the direction of regulation, taxes and economic policy. Here's hoping so, but until them, it is more of the same for rates next week.


Rates on 30-year mortgages fell to the lowest level in decades for the ninth time in 12 weeks, pushed down by traders anticipating a move by the Federal Reserve to pump more money into the economy.
The average rate for 30-year fixed loans dropped to 4.27 percent, mortgage buyer Freddie Mac said Thursday. That's the lowest on records dating back to 1971, and down from 4.32 percent the previous week

WASHINGTON -- Construction spending rose in August as a big jump in government building projects offset further weakness...
August construction spending up 0.4 percent - Sacramento Business, Housing Market News | Sacramento

WASHINGTON -- Construction spending rose in August as a big jump in government building projects offset further weakness in the private sector.
Construction spending edged up 0.4 percent in August following a 1.4 percent drop in July, the Commerce Department reported Friday. While spending on government projects rose 2.5 percent, spending on private construction projects dropped to the lowest level in 12 years.
The weakness in construction activity has been a major drag on the overall economy. Given continuing problems in housing and commercial real estate, analysts are not looking for a sustained rebound in the building industry for some time to come.
In August, private construction fell for a fourth consecutive month, a decline of 0.9 percent that left private sector building at an annual rate of $498.2 billion, the slowest pace since January 1998.
Residential construction was down 0.3 percent to an annual rate of $238.5 billion. Residential spending has been down every month starting in May. Housing activity received a temporary boost in the spring as homebuyers rushed to take advantage of a homebuyer tax credit before it expired on April 30. But since that time, home construction has struggled.
Spending on nonresidential projects dropped 1.4 percent to an annual rate of $259.7 billion after a small 0.2 percent rise in July. The August weakness reflected a big drop in the sector that includes shopping centers and smaller declines in spending on hotel construction and office buildings.
The economic downturn triggered rising defaults on commercial real estate projects. That has prompted banks to tighten lending standards and made it harder for builders to get financing for new projects.
Government spending rose 2.5 percent to an annual rate of $313.6 billion, led by a 2.7 percent rise in spending on state and local building projects and a 0.7 percent increase in federal building projects.
Government construction has received a boost from the billions of dollars included in the original $787 billion economic stimulus program that President Barack Obama proposed and Congress passed in February 2009 to help jump-start economic activity.

Read more:

Read Sacramento business stories, Sacramento housing market news, CalPERS and CalSTRS news at The Sacramento Bee


Mortgage applications to purchase homes rose 2.4 percent nationally last week. Real estate is always local and a single positive data trend by itself isn’t enough to predict the future of the real estate market. However, this does shows that the market is still moving in the right direction. How is your “local market” trending on sales and applications – is it following the national trend and moving up?


Green Tip of the Week: Rough walksConsider wood chips, nutshells, gravel, or other materials for your patios, walkways, and paths. These porous materials allow water to seep back into the earth, preventing runoff, erosion, and water pollution.


I've just received an email saying rates are now at 4.25% for a 30 year fixed!!


As you may have recently learned. (Reuters) - The recession ended in June 2009, making it the longest downturn since the Great Depression of the 1930s, the National Bureau of Economic Research said on Monday.


"Economists may say that the recession officially ended last year," Obama said. "Obviously for the millions of people who are still out of work, people who have seen their home values decline, people who are struggling to pay their bills day to day, it's still very real for them."


Housing affordability remained near its highest level nationwide for the sixth consecutive quarter, according to the most-recent National Association of Home Builders/Wells Fargo Housing Opportunity Index (HOI).


The Housing Opportunity Index "HOI" indicated that 72.3 percent of all new and existing homes sold in the second quarter of 2010 were affordable to families earning the national median income of $64,400. The index for the second quarter was slightly more affordable than the previous quarter and almost equaled the record-high 72.5 percent set during the first quarter of 2009.


If the economic news gets less worse, interest rates will rise. If panic and "flight to safety" become a less-favored investment strategy, interest rates will rise. If yields become too puny to keep investor interest, but that debt must be sold into the market, interest rates will rise. It is the nature of the market. Are you in the market to buy? Contact me before things change too much...


Not everyone knows this but: Self-cleaning ovens are better insulated than conventional ovens and, thus, are more energy efficient. Just thought I would share.


Labor Day is more than just an extra day off from work or simply the last fling of summer. It's a much-deserved rest in recognition of the hard work and daily disciplines that fuel our businesses and drive our economy. I hope you enjoy this time relaxing with friends and loved ones.You deserve it!!


4/. Good schools. Family-sized rentals are harder to come by in areas with excellent public schools, and last but not least; 5 /. Spacious properties in pleasant neighborhoods. Sizable homes in attractive communities are almost always owned – not rented.

There you have it, just a few reasons to validate owning a home of your own.


3/. Fixed-rate mortgages never rise – and eventually you pay them off. With mortgage rates at record lows, people who buy now are locking in real bargains.


2/. Paying the principal is forced savings. Yes, it’s possible that home prices will fall further. It is also possible that your 401(k) will lose value. But over the long haul, both are likely to enjoy modest gains in value.


1/. Be your own landlord. The bank can only kick you out if you don’t pay; a landlord can be much less dependable – deciding to sell the property or choosing to live there themselves.


The seemingly endless run of bad housing news is discouraging some potential home buyers from considering a purchase. But the truth is that the advantages of homeownership have very little to do with investment gains. The best things about owning a home have a lot more to do with personal comfort and satisfaction. With that, I'm going to list some advantages of owning a home; I'm sure you know some of them...


According to California Association of Realtors "C.A.R." First-time Buyer Housing Affordability Index stood at 64 percent in the second quarter of 2010 compared with 67 percent in the second quarter of 2009. The median price of an entry-level home in California was $266,750 in the second quarter of 2010. Someone you know looking? Call me and I can help them toward homeownership. ;-))


The estimated monthly payment including taxes and insurance was $1,470 in the second quarter of 2010. The minimum household income needed to purchase an entry-level home in California in the second quarter of 2010 was $43,960.


Despite a recent spate of bad news coming out of the housing industry, home prices show signs of stabilizing.
National home prices jumped a substantial 3.6% in the past year, according to the S&P/Case-Shiller Home Price Index released on Tuesday. Prices also climbed 4.4% in the second quarter compared with a 2.8% plunge in the first quarter.


confidence in the economy improved slightly in August, but the mood is still gloomy amid job worries, according to a monthly survey.
The Conference Board said Tuesday that its Consumer Confidence Index improved slightly to 53.5, up from a revised 51.0 in July. Economists surveyed by Thomson Reuters had expected 50.5. The improvement comes after two straight months of declines.


I'm sure you know by now, interest rates have dropped even lower, I'm getting regions of 4 to 4.25%!! Well, what can I say; first come, first served. Have at it my friends. Buy now or refinance, this is your chance. Should you have any questions? Well, you know how to contact me.


According to the California Association of Realtors "C.A.R." First-time Buyer Housing Affordability Index stood at 64 percent in the 2nd quarter of 2010 compared with 67 percent in the 2nd quarter of 2009. The median price of an entry-level home in California was $266,750 in the second quarter of 2010.


Quick facts: The estimated monthly payment including taxes and insurance was $1,470 in the 2nd quarter of 2010. Minimum household income needed to purchase an entry-level home in California in the second quarter of 2010 was $43,960.


Mortgage rates have set record lows for the eighth time in nine weeks, and the bargain-basement rates are prompting homeowners to file the most home-refinancing applications in 15 months.
The average rate offered on a 30-year fixed home loan fell this week to 4.42%, down from 4.44% last week, Freddie Mac reported Thursday. The latest figure is the lowest since the giant mortgage buyer began its rate survey in 1971.


I wanted to share one of the sites I go to that is helpful with information regarding news about the real estate market. Frequent often, they really do have a finger on the pulse; so to speak...


Companies promising to reduce or eliminate credit card balances and other debt for customers no longer will be allowed to charge an up-front fee. The Federal Trade Commission (FTC) recently announced new restrictions to crack down on the debt settlement industry. Beginning Oct. 27, debt settlement companies only will be able to charge a fee once a customer’s debt has been reduced, settled, or renegotiated.


The new FTC regulations also require debt settlement companies to disclose to customers how long it will take to get results, how much it will cost, and any negative consequences that could arise from the process.


I'm conducting an open house with a listing I have in Glendale this Sunday Aug 15th. 3545 El Lado Drive; from 2 to 5 p.m. Please drop-in and visit. Let me know if you plan to arrive, I'll be sure to shave me legs...


I wanted to let you guys know something to help any potential buyers out there. On a 30-Yr. Fixed, 360 months; at an average interest rate of 4.375% is somewhat equal to about $4.99 per $1,000.00. Hope this helps.


By the way, I should thank Shannon for the link, she's fabulous.


July 30, 2010. The economy is stabilizing. Home prices are holding. It's not just as good a time as ever to buy a house. It's one of the best times ever. presents five overlooked reasons why now is a great time to buy a house. Follow the reasons outlined below. Have a great weekend my friends.


1. July 30, 2010. Low mortgage rates serve as an equity shock absorber. When buyers borrow at today's record-low rates, they start building equity as soon as they close. That means they have a little give to absorb a few ups and downs as the still-recovering housing market gains traction.


889 Americana Way, Ste 408
Glendale, CA


(818) 470-1101



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