Monday, November 9, 2009

October inventory charts

Catching up with October charts ... overall, Westside inventory is similar to this time a year ago, except for low-end Palms-Mar Vista. Santa Monica less than $3 million is higher.

Our big question is, are conditions such that prices will drop again in 2010 like they did earlier in 2009? Inventory level is a yes. Availability of jumbo loans is another yes. General economic outlook is more of a question. Dismal earlier this year, it's improved some in popular perception but hasn't changed the earlier drop in high-end prices.





9 comments:

Anonymous said...

Jumbo loans are getting way easier to get now...if you are qualified. Just got one at 4.875% for 1.5m

Anonymous said...

That is indeed a sweet sweet rate on 1.5

How much did you have to put down? My bank is saying that 25% down is a must - what about yours?

Anonymous said...

different from anon4:41: from my own investigations, BofA is the only game in town for jumbo loans.

approx 5.75% for a 30 yr fixed. pay .5-1 pt if put only 20% down.

would love to know the terms of the 4.875% loan. likely 5 yr i/0, pls pts.

Anonymous said...

Yep, 25-30% down. Ouch.

5 year interest only....you can get abour 5.5% for a 30Y fixed

Anonymous said...

Don't want to quibble with rates here....but just saying it is wayyyyy easier to shop jumbos now than 1 year ago...credit markets are loosening up in this category IF (and thats a big if) you are well qualified....

Anonymous said...

Can anyone point me to a bank offering 30 year fixed rate under 5% for jumbo loan? I am willing to put 25% down but no more than 25% down

Anonymous said...

As a previous anon said, BofA is the only game in town for jumbo loans.

Specifically, you should check with the private bank at BofA (U.S. Trust - http://www.ustrust.com)

Anonymous said...

ING, B of A, GMAC, Chase, HCSB and US Bank all do super jumbos in CA.

Tell your mortgage broker to get off his A** and do the legwork!

Anonymous said...

Super Jumbo rates are as follows

4.855 percent loans are available with 20% down

but only available to those with the right credit scores.

Think you qualify?

Call your broker