Blog

  • Price Growth Slowing

    By Escala Realty on September 2, 2014
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    Housing Wire reported on data released about year-to-year and month-to-month home price changes which seem to show that the national market is cooling off and price increases are slowing.  Anecdotally, in Los Angeles, I believe the data should show similar and in the coming months will show slight price declines or negligible increases.  Rates on 30 year mortgages have come down so that is working

  • Prices increases no longer the story

    By Escala Realty on August 25, 2014
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    The San Fernando Valley Business Journal reported on July data that shows price declines as compared to June 2014 with an increase in activity.  The take-aways are that home prices are stable or somewhat declining and that inventory is increasing.  We expect the news in the coming months to be mixed due to recent decreases in interest rates may help

  • What’s the data worth?

    By Escala Realty on August 24, 2014
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    A recent video commentary from a senior exec at Auction.com discusses being cautious about the news you use when evaluating the housing market.  Today, year-over-year data in Los Angeles will probably show impressive gains in prices still but month-to-month data will most likely showing slowing growth or even price declines.  In a rapidly changing market, month-to-month data will show more

  • Freddie Mac says mortgage applications at recent lows and explains why

    By Escala Realty on August 22, 2014
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    Freddie Mac says new mortgage applications are at recent lows due to three main reasons: First, the refinance boom is over.  Most people who can refinance already did so.  Rates do remain low so if you haven’t refinanced or couldn’t before because of value, please consider it now before rates go up.  Second, Home sales are slowing down.  Buyers are resisting

  • Troubling Decision favors homeowner who sues the lender

    By Escala Realty on August 21, 2014
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    A New Jersey judge, who happens to have the last name of Escala, awarded an elderly borrower roughly $34,000 in damages and attorney fees over a refinance that only marginally dropped her payment and did little else.  The woman was elderly and originally wanted to cash out some equity.  As the loan process continued, what she got was a rate