The Spring 2013 edition of the Portola Valley Post has been published on the Town's website. The issue contains information about the upcoming Town Picnic, the new Town Garden Share program, summer science and outdoor concert activities to be hosted at Town Center, and also includes remarks by the Mayor and Town Manager.

Here is a LINK.

This remodeled ranch home is located in a superb central Atherton location and offers the quintessential California lifestyle.  An open floorplan provides the ideal environment for both formal gatherings as well as day-to-day living.  The beautifully landscaped surrounding grounds are brought indoors at every turn through several French doors while providing a private and tranquil setting for outdoor living.  The detached guest house is a flexible space that can be used as a living area, exercise room, pool house, or for another need that may arise.  Rounding out the appeal of this lovely home is its easy access to shopping, dining, and major commute routes to all of Silicon Valley or San Francisco.

More information can be found HERE.

Although real estate tends to slow during November, news remains good as pending home sales have risen for 17 consecutive months on a year-over-year basis. According to Lawrence Yun, chief economist for the National Association of Realtors, existing-home sales in 2012 will total close to 4.6 million, an increase of 9% over 2011. With reports of lower unemployment rates, sales of existing homes are projected to rise at an average of about 9% next year too.

Prices are rising in many areas of the United States. With a shrinking housing inventory, Yun predicts that the national median price for existing-homes is expected to increase 6% this year and 5% in 2013.

If you are looking for a great buy, now may be the time to shop. Holiday sellers are usually motivated and closing before the year ends may be a benefit. Please feel free to call me during the holidays with any questions.

How do I know if the home I am interested in has building code violations?

Building codes change. New requirements are added to address safety issues and make homes more energy efficient. Below are just a few examples of changes that may be worth researching when you buy:

• Wiring standards now prohibit aluminum wiring in most residential construction and require ground fault circuit interrupters near wet locations.
• Changes have been made to wind and snow load requirements to strengthen structure of homes and prevent damage in extreme weather.
• The use of insulated HVAC ductwork may be required in some areas of the US.
• Water heater braces are now required in most areas.

To make sure the house you’re looking to buy is up to code, consider a trip to our local building inspection office or zoning and building department. Talking with the original builder can also yield valuable information. I always recommend having a professional inspection, but taking these extra steps may be worth your time too.

Mortgage News

Americans continue to show growing confidence in home price increases over the next 12 months, providing further indications of a slow but steady housing recovery, according to results from Fannie Mae’s October 2012 National Housing Survey. Taken together with rental price expectations, which surged in October and remain much higher than home price expectations, more consumers may be motivated to purchase a home in the coming months.  With the record low interest rates, this is a great time to buy!

Conforming Loan Rates (up to $417,000)

30 year fixed – 3.25%

15 year fixed – 2.50%

7/1 ARM – 2.125%

High Balance Conforming Loan Rates ($417,001 to $625,500)

30 year fixed – 3.50%

15 year fixed – 2.75%

7/1 ARM – 2.50%

Jumbo Loan Rates (over $625,500)

30 year fixed – 3.50%

15 year fixed – 3.00 %

7/1 ARM – 2.75%

HAPPY THANKSGIVING

On Thanksgiving, millions of Americans from every religious and cultural background come together with family and friends to give thanks for the blessings of life. Consider these words as we begin a season of gratitude:

For each new morning with its light,
For rest and shelter of the night,
For health and food,
For love and friends,
For everything Thy goodness sends.

Ralph Waldo Emerson (1803 – 1882)

I am especially grateful for your business at this time of year and wish you and your family a Happy Thanksgiving.

Our Los Altos Hills listing is featured on Luxury Portfolio's blog.  Check it out HERE!

When you choose a home you choose a neighborhood!  Situated in the coveted community of Ladera, this remodeled home offers an open floor that lends itself to both everyday living and entertaining.  Ample natural light and stunning garden views from every room create the perfect living environment.  Additionally, this home is ideally located to take advantage of Portola Valley's open spaces while remaining in close proximity to the many amenities of the Ladera shopping center and several commute routes.  Enjoy tennis, swimming, and family activities at the Ladera Recreation Center at affordable resident rates.  Enjoy the perfect combination of home and community!

More information can be found HERE.

A masterpiece in modern design, this home portrays the ultimate in contemporary style on a setting overlooking sweeping views of the San Francisco Bay, Silicon Valley, and western hills. Expressions of modern architecture appear at every turn with crisp white smooth walls, contrasting hardwood floors from South America, and a profusion of recessed lighting professionally arranged for the display of fine art. Tremendous walls of glass, many with automatic shades, provide a seamless connection to the outdoors where sun-swept terraces, a sparkling pool, and meditative Zen garden offer amazing venues for outdoor enjoyment. Behind the scenes, state-of-the-art amenities ensure the best in video, sound, connectivity, and security. Topping it all off is the home’s excellent location seemingly miles away from everything yet ever so convenient to shopping and dining as well as commute routes leading to all of Silicon Valley or San Francisco.

More information and photos can be found HERE.

Featuring a panoramic bay view that will leave you awestruck day after day, this property is truly a rare opportunity.  It provides a private and serene setting remaining close to downtown Los Altos.  Whether you choose to move right in, remodel, or rebuild the possibilities this property offers are endless.

More details can be found HERE.

We will be hosting a broker tour on Friday, September 21st from 9:30 am to 1:00pm.

An open house is scheduled for Sunday, September 23rd from 1:30 to 4:30pm.

Also on the news front, it was mentioned that our most recent increase in sales is not solely attributed to those in the technology sector. Many of our buyers are coming from abroad- mostly China- looking to invest in the California housing market.

On a national level existing home sales rose in July to 4.47 million properties, up from 4.37 million in June. Comparing sales from July 2011 to 2012, home sales are higher by 10%. Year to date sales are up 8%. First-time homebuyers accounted for 34% of all sales in July. And the good news continues with Freddie Mac reporting that mortgage rates fell again at the end of August.

IS NOW A GOOD TIME TO BUY A HOUSE?

That depends. Interest rates are low and many experts expect them to remain so through 2013. In many markets, prices are increasing which is indicative of an improving economy and, as it continues to improve, prices should continue to go up. So now is a good time to buy.

But, it is always important to ask yourself the following questions before you jump in! What’s your present financial health? Do you have a down payment? Are you committed to staying in one place for a minimum of five years? Let’s discuss a strategy that is best for you.

SOME FUN INFORMATION

There are so many home improvement apps for smart phones available, it’s hard to keep up! Here are just a highly-touted few:

For inspiration, start with Houzz, an app that boasts a browsing library of more than 70,000 images of ideas by style and room. You can save them to your own virtual idea book for quick access (iPhone). Dream Home (iPhone and Android) is another, similar app. Both are free.

Need help visualizing your projects? SnapShop showroom lets you “try out” furniture you see in stores in your own home (free for iPhone). Take a picture of an inspiring décor, and the Benjamin Moore’s Color Capture app automatically creates a color palette for you (free for iPhone andAndroid). Sherman William’s ColorSnap will color match anything you can photograph (free foriPhone and Android).

When you’re ready to plan your space, MagicPlan measures your rooms and draws floor plans from pictures you take (free for iPhone). And for all you DIYers, the iHandy carpenter is a toolkit in your phone – called the “pocket Swiss Army knife of measuring tools” by one reviewer, it comes with a plumb bob, ruler, protractor and two level tools (1.99 on iPhone and Android).

MORTGAGE UPDATE

Mortgage rates have been great this summer!  Even as we move into the autumn months, the fact that the Federal Reserve is ready to provide more economic stimulus to lift the economy is one possible reason that they have continued to stay low.  The benchmark 30-year fixed-rate conforming mortgage fell to mid 3% according to the Bankrate.com national survey of large lenders.  On other financial fronts, overall stock prices are actually moving to pre 2007 levels!  The last time the stock market was this high, the 2008 recession was about to kick in.  But on Thursday, the Dow Jones industrial average hit its highest mark since December 2007, and the Standard & Poor's 500 index soared to its highest level since January 2008 in a rally that seemed destined to mark a milestone.  We’ve definitely come a LONG WAY in the last 4 years and it is great to see that the stock market is performing better that it was 4 years ago!  This seems to match the overall homeowner/homebuyer confidence level, and is reflected in the strengths of our local real estate markets.

Conforming Loan Rates (up to $417,000)

30 year fixed – 3.5%

15 year fixed – 2.75%

7/1 ARM – 2.25%

High Balance Conforming Loan Rates ($417,001 to $625,500)

30 year fixed – 3.625%

15 year fixed – 2.875%

7/1 ARM – 2.5%

Jumbo Loan Rates (over $625,500)

30 year fixed – 3.875%

15 year fixed – 2.875%

7/1 ARM – 2.375%

*Please note that these are sample purchase loan rates with 0 points.

When you choose a home you choose a neighborhood! Rarely will you come across the opportunity to enjoy the perfect combination of home and community. Located on a tree-lined street in the wonderful Willows neighborhood of Menlo Park this ranch-style home offers an ideal setting for the California lifestyle. This home may bring your house hunting to an end!

More details can be found HERE.

We will be hosting a broker tour on Turesday, September 11th from 9:30 am to 1:00pm.

An open house is scheduled for Sunday, September 16th from 1:30 to 4:30pm.

The ideal home for the idyllic neighborhood of Southgate!  This charming Tudor-style bungalow is overflowing with character, and is situated in one of Palo Alto’s most desirable neighborhoods.  Comprised of an eclectic assortment of homes framed by narrow tree-lined streets, Southgate offers a special living environment in a convenient location.  This home is ideally located to take advantage of Palo Alto’s many amenities including Stanford University, Caltrain, Peers Park and shopping at Town & Country and along California Avenue.  Enjoy the perfect combination of home and community!

More details can be found HERE.

We will be hosting a broker tour on Friday, September 7th from 9:30am to 1:00pm.

An open house is scheduled for Sunday, September 9th from 1:30 to 4:30pm

BrightNest is a service that helps homeowners by providing customized tips, weekly reminders and step-by-step instructions on how to care for their home. When you sign up, it only takes us one minute to create a custom "owner’s manual" for your house. Then, weekly "to-do’s" are delivered to your dashboard and Inbox. These short, proactive tasks are designed to be easy to understand and complete, so you can save money and prevent expensive issues.

Click on the link below and sign up for this FREE gift from our home to yours: 

http://brightnest.com/invite/scott-symon 

Let us know what you think!

Presenting the classic style of Palo Alto, this spacious downtown property offers two separate living quarters with ample flexibility – live in one and rent the other, rent both units, or possibly convert to a single-family residence (buyer to confirm with the City of Palo Alto). Updated and remodeled with a total living space of 1,746 square feet, each residence is bright and inviting with 2 bedrooms, 1 bath, a spacious living room, and eat-in kitchen – plus the added bonus of a 3-car detached garage and offstreet parking – the ultimate for downtown Palo Alto living. And with the home’s location just one and a half blocks to shopping, dining, and night life on University Avenue, this treasured property offers endless appeal!

332 Kipling Street

• 2 bedrooms and 1 bath

• Covered front porch entrance

• Hardwood floors in the living room and bedrooms

• Spacious living room with glass pocket doors for privacy from the kitchen

• All-white remodeled kitchen and dining area with vinyl flooring and wainscot paneling

• Two sizable bedrooms, one with built-in sleeping area surrounded with open shelving plus ladder access to the loft, which has air conditioning and 2 operational skylights

• Beautifully remodeled bathroom with tall wainscot paneling, honeycomb tiled floor, and tub with overhead shower

330 Kipling Street

• 2 bedrooms and 1 bath

• Private entrance from the rear driveway

• Carpeting in the living room and bedrooms

• Living room with side-by-side windows opens to the kitchen

• Bright, updated kitchen with dining area and front door entrance

• Hall bath with shower

Common Features

• Detached 3-car garage plus off-street parking

• Laundry facilities with sink in the garage

• Award-winning and coveted Palo Alto School District

We'll be open Friday, April 20th from 9:30am to 1:00pm and Sunday, April 22nd from 1:30pm to 4:30pm.

Situated in a wonderful San Mateo neighborhood, this charming remodeled ranch-style home offers the ideal combination of home and community.  It provides an open and spacious floorplan that is ideal for everyday living, as well as entertaining.  Its location provides easy access to many of San Mateo’s most desirable offerings.

• Approximately 1,640 square feet of living space situated on a lot of approximately 6,710 square feet
• Four bedrooms and two remodeled bathrooms
• The spacious master suite features French doors leading to the rear yard and a bathroom with richly stained custom cabinetry and marble countertops
• Gourmet kitchen features crisp white cabinetry, stainless steel appliances granite countertops, and bar seating opens to the spacious living room and dining room
• Elegant living room features hardwood floors, built-in speakers, floor-to-ceiling windows opening to the rear yard, and a fireplace surrounded by built-in cabinetry
• Professionally landscaped yard with flagstone patio, low voltage lighting, and a path leading to a panoramic bay view
• Covered rear patio with recessed lighting and outdoor speakers
• Dual-pane windows throughout much of the home
• Conveniently located near Laurelwood Shopping Center, Beresford Park, and several commute routes

We will be open Tuesday, March March 13th from 9:30am to 1:30pm and Sunday, March 18th from 1:30pm to 4:30pm.  Please stop by to enjoy this home and refreshments!

We've just listed a wonderful Menlo Park property, and we will be open Sunday afternoon between 1:30 and 4:30 pm!

This home presents modern Craftsman appeal in a tranquil setting beneath towering redwoods. An inviting front porch is the perfect introduction to the chic and sophisticated interiors with beautiful hardwood floors, plantation shutters, and a crisp clean palette of colors. The two-story floor plan includes 3 bedrooms and 3 bathrooms plus a detached guest house with full kitchen and bath. An enchanting rear patio plus access to excellent Las Lomitas schools complete this wonderful home in West Menlo Park.

Summary of the Home

• Approximately 2,490 square feet of living space

• 3 bedrooms and 3 bathrooms plus detached 1-bedroom, 1-bath guest house

• Hardwood floors and plantation shutters

• Elegant living room with wood-burning fireplace plus formal dining room

• Gourmet kitchen with whitewashed oak cabinetry, black granite counters, and stainless steel appliances opens to the family room with fireplace

• Main-level full bath plus upstairs master bedroom suite, two additional bedrooms, and a full bath; all bathrooms updated with marble finishes

• Guest house, approximately 500 square feet, with living/sleeping area, full kitchen, and bathroom

• Upstairs laundry room, security alarm system, fire sprinklers, and 2-car detached garage

• Professionally landscaped and fully fenced yard with Connecticut bluestone terrace and towering redwoods

On a local level, our inventory is also low but unlike the national statistics, we have many buyers who are eager to purchase a home, despite the approaching holidays!

Looking forward, there are good indicators that some areas will see significant changes in the market next year:

• New residential construction surged 15% in September - the best performance in 17 months.
• Mortgage applications increased 1.3% for the week ending October 7, 2011, according to the Mortgage Bankers Association.
• Pending home sales this past September were 6.4% higher than in September of 2010.

SOMETHING TO THINK ABOUT:

Is this a good time to buy a rental property?

Lower home prices in some areas combined with low interest rates make this the best time in years to become a real estate investor. News sources like MSNBC have been reporting a strong rental market since summer, calling it a “landlord’s market” in many cities and anticipating rising rents.

If you’re considering purchasing a property to rent, location is of prime importance. Safe neighborhoods that are near good schools and public amenities like parks, public transportation, and shopping districts are especially attractive to renters. What type of property are you interested in buying? Condominiums can be a good choice for first-time investors. But they appreciate more slowly and command smaller rents. Single-family homes tend to attract longer term renters. Also, don’t forget duplexes, triplexes and fourplexes which are great investment opportunities.

Now is a great time to buy an investment property. Let’s talk about your options.

IS YOUR HOUSE READY FOR WINTER?

The following tips will help you save money on your heating bills in the upcoming colder months.

Add insulation in your attic – Do you have enough insulation in your attic? The US Department of Energy has some helpful recommendations on insulation levels at their website. They even have a calculator that will tell you based on your zip code how much you should have in your home. When adding new insulation atop old insulation, don’t use the kind with paper backing. It forms a vapor barrier that can cause moisture problems in the existing insulation.

Maintain your ducts – You can lose up to 60% of your heat through ducts. If you’ve had your system for awhile, consider hiring a professional heating and cooling contractor to locate and seal areas where you may be losing warm air. If you’re in an especially cold climate and your ducts pass through unheated spaces like a basement, insulate them.

Reverse your fans – If your ceiling fans have reverse settings, run them in cold months; they’ll push warm air downward, circulating it throughout the room.

Block drafts – Cold air coming from beneath doors can waste up to 30% of your energy bill. Stuff a necktie or a scrap of fabric sewn into the shape of a tube with sand or kitty litter (or just roll up a towel) and lay it at the base of the door.

Lower the thermostat – For every degree you lower your thermostat, you can save up to 3% on your monthly heating bill.

Replace filters – Clogged air filters restrict airflow and add to your energy bill. Replace them once a month during the winter. Better yet, with reports suggesting that disposable filters trap as little as 10-40% of debris, consider replacing yours with a HEPA filter. HEPA filters can remove up to 99.97% of airborne particles.

Buy an energy monitor – There are two kinds of energy monitors. Smart Plugs plug into an individual outlet and calculate the amount of energy being used by a single appliance. Energy (or power) monitors for the whole house track energy usage at your breaker panel. You can find out in real time how much energy you’re using, how much it’s costing you, and how much you’ll save just by turning off an extra light or any appliances like laptops and televisions that have standby modes. Research has shown that people who use power monitors naturally become more aware of - and reduce - their usage. Shop your local home appliance store for an energy monitor and save on your overall power bill this winter.

FINANCIAL UPDATE:

September and October saw home refinance activities reach an all time high.  With interest rates so low, it is also a great time for homebuyers as well as investors to purchase real estate properties.  Non-conforming (otherwise known as jumbo) loan rates, are at an all time low.  In fact, for many buyers who qualify, they are seeing jumbo rates on par with standard conforming rates.  Remember, with the change in the conforming level, any loan that is above $625,500 is considered a jumbo loan.  Below are rates for purchase transactions:

CONFORMING (up to $417,000)

30 year fixed: 4.0%

15 year fixed: 3.25%

7/1 ARM: 2.625%

HIGH BALANCE CONFORMING (up to $625,500)

30 year fixed: 4.0%

15 year fixed: 3.25%

7/1 ARM: 2.75%

NON-CONFORMING (over $625,500)

30 year fixed: 4.25%

15 year fixed: 3.75%

7/1 ARM: 3.25%

Real Estate Update

Can you believe that it is already September!  When I reflect on the real estate market over this last year, I feel so fortunate to be selling on the peninsula. Our market continues to be strong, but it was slower over the summer. We are still experiencing multiple offers, however, especially in Palo Alto.  There was one home that was listed by another brokerage in Old Palo Alto that had 30 offers on it!  It was priced at 1.1 million dollars, which was considerably lower than the most recent sales in the area.  It ended up selling for close to 2 million!

On a national level, the sales numbers have been more inconsistent but are much better than last year.  In the West, pending home sales rose 3.6 % from June to July and are now 20.6% above July 2010. In the Midwest while sales slipped 0.8 % for that same period, overall sales were still 9.7% above July 2010. In the South: sales fell 4.8% but were still 9.5% higher than July 2010. In the Northeast sales fell 2% but were 9.7% above July 2010.

The underlying factors that usually signal an upswing in the real estate market include the following: rising rents, higher affordability and more investors buying real estate as a hedge against inflation. Also, improvement in lending standards has given more buyers the confidence to act.

Something to think about:

The recent reports of natural disasters have been making me wonder, “Do I have adequate homeowner’s insurance in case of an earthquake or flood?” According to the Insurance Information Institute , about 5,000 earthquakes occur in the U.S. every year. Yet even in earthquake-prone California, just 12 percent of homeowners have earthquake coverage. Four out of every five natural disasters involve flooding, yet less than one in five homes nationwide are covered by flood insurance.

The price tag for repairing flood damage to residential properties caused by Hurricane Irene could top $59 billion. An estimated 900,000 properties were damaged and many, if not most, are not covered by flood insurance according to CoreLogic. The average flood insurance policy in 2010 cost about $600 per year. The average claim over the past five years was about $34,000 according to the Federal Emergency Management Agency.

If you have questions, I suggest you read your policy or call your insurance agent. If you need some referrals, give me a call.

Mortgage News

Mortgage interest rates are at an all time low, and homeowners are taking advantage of this in both purchases and refinances.  Even though we no longer have the $729,750 temporary loan limit, we are still able to provide for a high balance conforming up to $625,500.  In addition, by coupling a line of credit with this high balance conforming loan, you would still be able to borrow up to $729,750 (or higher) without going into jumbo territory!  Speaking of jumbos, there happens to be a jumbo purchase promotion going on, resulting in unbelievable mortgage rates.

Calif. highest median home price by region/county May  2011: San Mateo: $810,000 (Source: C.A.R.)

Calif. lowest median home price by region/county May 2011: Merced $113,000 (Source: C.A.R.)

Calif. Pending Home Sales Index: June 2011: 119, an increase of 1.9 percent compared with prior month. (Source: C.A.R.)

Calif. First-time Buyer Affordability Index: First quarter 2011: 53 percent (Source: C.A.R.)

Mortgage rates: Week ending 7/14/2011 30-yr. fixed: 4.51 fees/points: 0.7% 15-yr. fixed: 3.65 fees/points: 0.6% 1-yr. adjustable: 2.95% Fees/points: 0.5% (Source: Freddie Mac)

It is difficult to accurately assess the bay area real estate market because of the many micro markets that exist within its boundaries.  For example, Palo Alto continues to be the shining star with almost every listing generating multiple offers.  The surrounding cities of Los Altos, Mountain View, Menlo Park and the rest of the Mid Peninsula are also experiencing an increase in activity.  But there are some markets that continue to struggle, especially in the South and East Bay.  Also, low inventory continues to be a problem in all areas, with not enough housing to satisfy the many buyers coming through our open houses.

Last month was a very successful month for our office with 75 sales and over $118,000,000 in gross sales volume.  This is almost double what we posted last year and the third month in a row that we have exceeded $100,000,000 in sales.  We are very much aware that these numbers are not just the result of our hard work and effort- but the uniqueness of the market place which we serve.

Something to Think About

Today’s buyers seem to be more attracted to a new or remodeled home as oppose to a fixer-upper.  In existing homes, newly remodeled kitchens, bathrooms and family rooms are high on everyone’s wish list.  If you are selling, it’s important to have as many updated amenities as possible in order to get you the highest price.

This trend is reflected in the National Association of Home Builders’ Remodeling Market Index (RMI), which measures the amount of remodeling activity in the market.  The RMI rose to 46.5 in Q1 of 2011, compared to 41.5 in Q4 of 2010.  This marks the highest level for the RMI since Q4 of 2006.

Mortgage News

Given the fluxuations in the financial market over the past week, interest rates took a turn for the better.  This is great timing as it may be the last time to get locked into a high balance conforming loan program for a low interest rate.  While these loans have been mostly utilized by homeowners for their primary residence, they are in fact also applicable for investment properties as well.  If you are thinking of purchasing investment property, this is great time to get an investment property loan for up to $729,750, with as little as 35% down payment.

Current Interest Rates

CONFORMING (up to $417,000)

30 year fixed: 4. 5%

15 year fixed: 4.0%

7/1 ARM: 3.375%

5/1 ARM: 3.0 %

HIGH BALANCE CONFORMING (up to $729,750)

30 year fixed:  4.625%

15 year fixed: 4.125%

7/1 ARM:  3.625%

5/1 ARM: 3.25%

NON-CONFORMING (over $729,750)

30 year fixed: 5.0%

5/1 ARM: 3.625%

Situated in the coveted community of Ladera, this Leonard Lincoln designed redwood home offers the ideal living environment to enjoy the surrounding area’s natural beauty. The open floor plan with expansive decks and floor-to-ceiling windows is highlighted by breath-taking views of San Francisco Bay, the Stanford Foothills and eastern hills from Mt. Diablo to Mt. Hamilton.  Additionally, this home is ideally located to take advantage of Portola Valley's open spaces while remaining in close proximity to the many amenities of the Ladera shopping center and several commute routes. Enjoy tennis, swimming, and family activities at the Ladera Recreation Center at affordable resident rates.

The home will be open this Tuesday, May 31st from 9:30am to 1:00pm, as well as this Saturday and Sunday, June 4th & 5th from 1:30 to 4:30pm.

More details and photos can be found HERE.

Mortgage News

Currently, the high balance conforming loan program allows homeowners to purchase or refinance a loan up to $729,750 at preferred conforming rates.  These rates are indirectly subsidized by the federal government through Fannie Mae/Freddie Mac repurchase programs.  According to top banking executives, there is very little change the high balance conforming loan program will get extended beyond the current expiration date of September 30, 2011.  Most experts believe that the new conforming loan amount will be $625,000 (or less).  If you are planning to take on a loan in the amount of $417,001 to $729,750, now is the time to take advantage of this program before it expires.

Here are the Current Interest Rates:

CONFORMING (up to $417,000)
30 year fixed: 4. 625%
15 year fixed: 4.25%
7/1 ARM: 3.5 %
5/1 ARM: 3.125 %

HIGH BALANCE CONFORMING (up to $729,750)
30 year fixed:  4.75%
15 year fixed: 4.25%
7/1 ARM:  3.625%
5/1 ARM: 3.375%

NON-CONFORMING (over $729,750)
30 year fixed: 5.375%
5/1 ARM: 4.25