California Love!

Happy Holidays from Comet Realty

Interest Rates at an All Time Low!

With interest rates at an all time low, it's a great time to buy or refinance. 

Contact your favorite Comet Realty Realtor® to find out more.

GREEN HOMES SELL FOR MORE!

According to an article in USA Today, green-certified homes sell for 9% more than regular homes in California. 


According to the University of California research department, single-family homes with green certifications sold for an average of $34,800 more! These statistics were taken from comparable homes from 2007-2012 when average California home was $400,000. 


The study finds the premium is also highest in the hottest places, suggesting buyers value green labels because of the lower utility bills. 1.6 million home sales were looked at, including 4,300 that earned certifications from Energy Star, GreenPoint Rated or the US Green Building Council's LEED for Homes program. 


If you are interested in finding out how you can get your home green certified, contact your favorite Comet Realty agent today (see list to the right!) 

California Median Home Prices - Summer 2012

GREEN TIP: Packing Materials

Styrofoam packing peanuts, bubble wrap, and foam are useful during a move, but not for the environment. 

To go green on your next move, try using old newspapers to wrap fragile items, and then recycle the paper when you unpack. Wrap pieces of furniture and art with blankets to ensure they do not get damaged during the move instead of packing them in foam. If you must use non-biodegradable packing materials, ask around to see if anyone has any from a past move to give you. 


Reusing is always better than buying new––for the environment AND your wallet.

Mortgage Rates Continue to Set New Record Lows!

Mortgage rates continue to set new record lows, leaving many home buyers and refinancers wondering how low rates can go and how to capture the best rates now.

Making sense of the story:

• Many economists are forecasting that mortgage rates will rise again later this year as the American economy gradually improves and as more global investors turn to the U.S. as a safe haven for money.
  
• The average rate on a 30-year fixed-rate mortgage averaged 3.66 percent the month of June. This is the lowest price since the long term mortgages began in the 1950's!
  The rate had averaged 3.9 percent three months earlier and 4.5 percent a year earlier.
  
• According to one economist, rates could possibly fall further, perhaps as much as a quarter of a percentage point, but it is more likely that they would start a “slow drift” upward.
  
• Those planning to refinance or buy a home in the next two or three months might want to consider locking in a mortgage rate now.
  
• Borrowers with rate locks, with a built-in deadline, often receive priority treatment from lenders, because the borrower is telling the lender that he or she is serious about closing soon.
  
• Lock-in costs and policies vary widely, and are based partly on the time frame the borrower wants covered. Most borrowers will need a 60- to 90-day lock.
  
• If interest rates continue to fall during the lock period, borrowers can ask the lender to rewrite the rate lock at an additional cost, or obtain a “float-down” provision in the original agreement.  A lock with a float-down agreement allows the borrower to change the rate, often only once, before closing on the mortgage. This option is generally more expensive than a standard lock.

Comet Realty works with MANY terrific lenders. If you are looking to refinance (or buy a new home), please contact us for a good referral - somebody local who will have your best interests in mind. 

805-546-9925, or INFO@CometRealty.com.

Information taken from NY Times

Reliable but not guaranteed