Category Orange County Mortgage News | The Boutique Real Estate Group

February 26, 2014 by The Boutique Real Estate Group

The Boutique Real Estate Group to Open New Luxury Real Estate Office in Corona Del Mar

Brilliant design, luxury services & cutting edge technology are headed to the coast of Orange County, Ca with the launch of The Boutique Real Estate Groups second office in the beach city of Corona Del Mar in Newport Beach.

The Boutique Real Estate Group is a boutique real estate brokerage in Orange County, CA, that focuses on great design, beautiful marketing & luxury services and is set to open their 2nd office in the beach city of Corona Del Mar in Newport Beach. Raj Qsar, Principal & Owner has created a culture that spurs collaboration, technology and social media with a unique marketing approach.

Their story goes a little something like this… Beautiful design evokes emotion. Emotion stirs the soul and creates a connection between client, agent and the home buying process. The Boutique Real Estate Group has invested heavily in bringing all aspects of the real estate experience completely in-house. From design, staging, photography, cinematography and social media to technology, internet optimization & cloud based transaction management. This not only provides them complete control of the design, marketing & technology of luxury real estate but also gives them the look & feel of a true boutique marketing agency. This design & tech-forward approach has earned The Boutique Real Estate Group accolades & awards worldwide.

Most recently The Boutique Real Estate Group has been recognized as the 2014 Next Generation Real Estate Brokerage by Better Homes & Garden Real Estate and 1000 Watt Consulting. Raj Qsar & Jeremy Lehman, The Boutique’s CTO have both been recognized as Inman News Top 100 Most influential Real Estate Leaders for their work & dedication to raising the bar in the Real Estate industry. And their #GoodbyeHello video was named Top 20 Real Estate Videos in the USA in 2013.

Look for their new office in the beach city of Corona Del Mar in Newport Beach as they launch into the Coastal Orange County Real Estate Market in 2014.

August 19, 2013 by The Boutique Real Estate Group

Half of All Homes Are Being Purchased With Cash

52 Ovation, Irvine, Ca 92620

Story Via WSJ Real Estate News

August 15th, 2013

More than half of all homes sold last year and so far in 2013 have been financed without a mortgage, according to an analysis by economists at Goldman Sachs Group.

The analysis estimates that around 20% of all homes sold before the housing crash were “all-cash” sales (or around 30% of sales by dollar volume). But over the past seven years, the all-cash share of sales has more than doubled, increasing by more than 30 percentage points, according to economists Hui Shan, Marty Young and Charlie Himmelberg.

The Goldman study analyzed home sales figures from the Census Bureau and the National Association of Realtors and mortgage-origination data from the Mortgage Bankers Association and Lender Processing Services.

The surprisingly large cash-share of purchases helps to explain why home sales have jumped over the past two years despite more muted increases in broad measures of new mortgage activity, such as the MBA’s mortgage application index.

There’s no exact way to know who is responsible for all of these cash purchases, though they are likely to include some combination of investors, foreign buyers, and wealthy homeowners that don’t want to go through the hassle of getting a mortgage before closing on a sale. Mortgage lending standards have sharply tightened up since the housing bubble, with banks scrutinizing borrowers’ tax returns and bank statements to verify their incomes and the source of their down payment.

The Goldman analysis also estimates that around 44 cents of every $1 of homes sold currently is being financed, compared to 67 cents before the crisis.

Purchase-mortgage origination volumes have fallen from around $1.5 trillion in 2005, when the housing market peaked, to around $500 billion in each of the last two years.

While declines in the volume of homes being sold accounts for some of the decline, the Goldman economists estimate that around 40% of the decline is due to the drop-off in the amount of financing per home.

The Goldman analysis estimates that purchase-loan volumes will rise to around $750 billion next year and to $1.1 trillion by 2016.

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April 17, 2013 by Raj Qsar

Mortgage News | Orange County | FHA Loans

Via Rick Underwood, Broker | Owner, TNG Mortgage

Great news! The housing market is showing clear signs of improvement. And conventional lenders are hinting that they’re going to start to ease underwriting guidelines. That being said, a very popular type of loan just became a little more expensive – and is about to become a little more restrictive.

One of the most attractive features of FHA mortgages is the low required down payment. In fact, the majority of FHA loan programs require only 3.5% down. The downside is mandatory upfront and monthly mortgage insurance (MI). On April 1, 2013, the monthly mortgage insurance increased by 5-10% depending upon the loan scenario. At this time, mortgage insurance on FHA loans remains in place for a finite period of time. And in most cases, FHA will drop the monthly MI payment after five years, provided the homeowner has at least 22% equity. However, on most FHA loans originated after June 2^nd, the monthly MI will remain for the life of the loan. So, the only way to eliminate the costly mortgage insurance is to refinance.

Our recommendation: If you have considered refinancing your home, or purchasing a new home, you can ensure this new FHA policy does not increase the lifetime cost of the transaction. If you know the property you plan to purchase or refinance, we can “lock in” the current FHA pricing – even if you cannot complete your transaction for six months. Call 714-203-8558 for additional information.

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