It’s All About The Applications – Open House for Newport Beach

I watch quite a bit of news while I am at home during the day composing these blogs for you all to read. The most common reoccurring headline I hear is something negative to say about the real estate market. As difficult as it may be, I like to look at the glass half full, even in the middle of a real estate downfall. With mortgage applications down 6.2% according to Cnnmoney.com, obviously fewer people are looking for housing, but this could mean less competition for you. As cited from the trade group Mortgage Bankers Association’s weekly survey, refinance applications have declined 5.6% and the purchase volume fell 6.7% on an adjusted basis. Refinance applications accounted for 3.9% of all applications, of course this means that more than a 1/3 of the applications were from people that already owned their home. Also, according to the association, the average interest rate for a traditional 30 year fixed loan to 6.59%. So what does all this mean for you? Well it’s simple, more leverage for you when you go in to purchase home. Take a look at some of these great abodes that Newport Beach is offering for open house.

454 Bolero Way: $479,000, 2 Beds, 2 Baths, 970 SQ. FT. Open this Saturday from 1 – 4

454 Vista Trucha: $845,000, 3 Beds, 3 Baths, 2,155 SQ. FT. Open this Sunday from 1 – 4

2311 Redlands Dr: $849,000, 3 Beds, 2 Baths,  1,571 SQ. FT. Open next Sunday from 1 – 4

511 Park Ave: $1,329,000, 3 Beds 2 Baths, 1,152 SQ. FT. Open this Sunday from 1 -4

1948 Santiago Dr: $2,249,0005, Beds, 4 Baths, 3,900 SQ. FT. Open next Saturday and Sunday from 1 – 4

204 Via San Remo: $2,395,000, 3 Beds, 4 Baths, 2,915 SQ. FT. Open this Sautrday and Sunday from 1 – 4