Happy New Year

  The HBMO wishes everyone a Happy New Year

Heath Care Reform, Taxes & Mortgage Bonds

 

I first saw this in the Wall Street Journal and had a hard time believing it. It is not so hard to believe today

Well it appears that the Heath Care Bill will be going to the White House where Obama will surely sign it.  As much as I would like to see real Heath Care [...]

Merry Christmas

2009 In Review

  Well this has been the wildest year we have ever seen in terms of banking and the Government.  Rates, guidelines, mortgage insurance, Fannie Mae, Freddie Mac, FHA, HVCC, bailouts, Czars and even Obama have all impacted the mortgage industry.  The Country is now trillions of dollars in debt and most of us have very [...]

Wells Fargo To Pay Back TARP Funds

  Wells Fargo joined the other large banks in announcing plans to pay back our TARP money. Banks are complaining that they can’t attract top talent with their compensation structures capped.
  TARP: Troubled Asset Relief Program – maybe that is one acronym that we can forget. Wells Fargo may avoid the label of being the [...]

Obamanomics crosses over into my area and acts “Stupidly”

  The Obama administration should take a step back and look at FHA when it comes to Fannie Mae, Freddie Mac and the current economy.  So let’s put this is prospective here, Obama, the Obama adviser’s, Barney Frank nor Andrew Cuomo understand the real issue.  The real issue here is the 4.1 trillion in lost [...]

This Week in the Mortgage Industry

A little off topic here – Misguided Media Issues
   Well we have all by now heard the radio commercials advertising rates at 4.875% for 30 years with no fees.  How can they do this?  Well the answer is clear they can not do it unless you fit the prefect scenario.  What they do not tell [...]

November Housing Inventory Snapshot

November Housing Inventory Snapshot
 

 
Average List Price
Median List Price
Average Days On Market

Los Angeles County, CA

Single Family under $600K
$336,282
$325,000
106

Single Family over $600K
$1,397,671
$990,000
128

Condo/Townhome under $400K
$235,200
$229,990
107

Condo/Townhome over $400K
$628,920
$529,900
101

Orange County, CA

Single Family under $1M
$583,137
$575,000
101

Single Family over $1M
$3,150,032
$1,995,000
157

Condo/Townhome under $600K
$309,521
$299,500
104

Condo/Townhome over $600K
$1,178,023
$949,999
157

Riverside County, CA

Single Family under $700K
$234,827
$199,900
139

Single Family over $700K
$1,323,163
$999,000
163

Condo/Townhome under $500K
$140,456
$124,900
122

Condo/Townhome over $500K
N/A
N/A
N/A

San Bernardino County, CA

Single Family under $700K
$204,397
$164,900
138

Single [...]

Politics and the Mortgage Industry Cross Again

  Well what a week.  Why is Obama continuing to make statements about the mortgage industry without all of the facts?  Obama is shaming lenders for not doing Loan Modifications which must make one of his largest supporters squirm.  Obama received huge amounts of money from George Soros.  We all remember Sen. Chuck Schumer making [...]

Happy Thanksgiving Day