Showing posts from March, 2013

Fourth quarter metro area home prices strongest in seven years

A growing number of metropolitan areas had higher median home prices in the fourth quarter, with the national price showing the strongest year-over-year increase in seven years, according to the latest quarterly report by NAR.

The median existing single-family home price rose in 133 out of 152 metropolitan statistical areas (MSAs) based on closings in the fourth quarter compared with the same quarter in 2011, while 19 areas had price declines. In the third quarter, 120 areas showed increases from a year earlier, while in the fourth quarter of 2011, only 29 metros were up.
Lawrence Yun, NAR chief economist, said all the conditions for strong price growth are at play. "Home sales are on a sustained uptrend, mortgage interest rates are hovering near record lows and unsold inventory is at the lowest level in 12 years," he said. "Home sales are being fueled by a pent-up demand and job creation, along with still favorable affordability conditions and rents rising at faster ra…

Freddie Mac opens Borrower Help Center in Los Angeles

Freddie Mac recently announced it has partnered with various non-profit organizations in the Atlanta, Las Vegas, and Los Angeles areas to open walk-in Borrower Help Centers where delinquent borrowers can get free and confidential holistic financial counseling designed to help them stay in their homes by pursuing mortgage workouts and avoiding foreclosure. Freddie Mac opened Borrower Help Centers in Chicago, Phoenix, Washington, D.C., and San Bernardino, Calif. in 2010.

Freddie Mac Borrower Help Centers offer mortgage counseling plus help with debt and credit issues that could affect the borrower's ability to stay current on their mortgage after a modification.

To schedule a free appointment at one of the new walk-in Freddie Mac Borrower Help Centers, delinquent borrowers should contact them at:

Los Angeles Metro Area
West Angeles Community Development Corporation
6028 Crenshaw Boulevard
Los Angeles, California 90043
(855) 543-3440 – office