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LUXURY ESTATES UPDATES

 

FROM:

KATHRYN REITZEN     

September, 2013
sept  
IN THIS ISSUE
Great places for clean air
Mortgage rates hit two-year high
Best big city neighbourhoods
Current Interest Rates

 



 

Dear ,        
  




Happy Labor Day!

Nearly every property type in Southern California had something in common in July ... it went up in value. Fueled in part by near - record down payments for purchases, properties from $300,000 and up saw their sales volumes rise by more 50% from a year ago. Sales for homes priced higher than $300,000 grew by 51.7% from last year, while those above $500,000 saw volumes jump by 73.5%, and those above $800,000 experienced a sales volume increase of 77.5%.

That is not the best of the  news for the Buyers though, however, If you are planning to buy now, the time is still great!  Do not wait for the prices to climb up higher. 

 



Please let me know if I can sell your property for you, or find one for you or your family and friends.

Don't hesitate to call me for details in your area.  
 
 
Sincerely Yours, headshot
 

Kathryn Reitzen
Luxury Estates Advisor 
Short Sales Certified

 Keller Williams Realty
 436 North Canon Drive, Penthouse
 Beverly Hills, CA 90210
310-617-4047 Cell

 


Most of my business is acquired by the referrals. 

No deal is too small or too large. I mostly sell Real Estate in the vast Los Angeles are, but  international listings are welcome as well.

I look forward to the opportunity to  build a lasting working relationship with you.  













Great places for clean air

 

Feel free to breathe deep: In these 20 towns, the air quality is rated highly, and pollution levels are below the U.S. average.

Live Oak, CA
best places cleanest air live oak california
Population: 17,566
Air quality index (% good days): 100%
Air pollution index (lower is better): 80


Kihei, HI
best places cleanest air kihei hawaii
Population: 21,550
Air quality index (% good days): 98.4%
Air pollution index (lower is better): 87


Waipio, HI
best places cleanest air waipio hawaii
Population: 11,919
Air quality index (% good days): 98.3%
Air pollution index (lower is better): 77

Boone, NC
best places cleanest air boone north carolina
Population: 17,609
Air quality index (% good days): 98.3%
Air pollution index (lower is better): 98



Cookeville, TN
best places cleanest air cookeville tennessee
Population: 31,753
Air quality index (% good days): 97.2%
Air pollution index (lower is better): 97
 

San Anselmo, CA
best places clean air san anselmo california
Population: 12,577
Air quality index (% good days): 97%
Air pollution index (lower is better): 83


Pueblo West, CO
best places clean air pueblo west colorado
Population: 30,322
Air quality index (% good days): 97%
Air pollution index (lower is better): 94


Pacific Grove, CA
best places clean air pacific grove california
Population: 15,340
Air quality index (% good days): 96.8%
Air pollution index (lower is better): 79


Aberdeen, SD
best places clean air aberdeen south dakota
Population: 26,748
Air quality index (% good days): 96.8%
Air pollution index (lower is better): 93


Silver City, NM
best places clean air silver city new mexico
Population: 10,168
Air quality index (% good days): 96.7%
Air pollution index (lower is better): 95


Niceville, FL
best places clean air niceville florida
Population: 12,663
Air quality index (% good days): 96.4%
Air pollution index (lower is better): 76

Saratoga Springs, NY
best places clean air saratoga springs new york
Population: 26,909
Air quality index (% good days): 95.9%
Air pollution index (lower is better): 78


McKinleyville, CA
best places clean air mckinleyville california
Population: 15,240
Air quality index (% good days): 95.6%
Air pollution index (lower is better): 100


Colchester, VT
best places clean air colchester vermont
Population: 17,262
Air quality index (% good days): 95.4%
Air pollution index (lower is better): 85


Kapaa, HI
best places clean air kapaa hawaii
Population: 10,966
Air quality index (% good days): 94.9%
Air pollution index (lower is better): 82


Salem, VA
best places clean air salem virginia
Population: 25,271
Air quality index (% good days): 94.6%
Air pollution index (lower is better): 98


Millbrook, AL
best places clean air millbrook alabama
Population: 15,391
Air quality index (% good days): 94.3%
Air pollution index (lower is better): 72

Healdsburg, CA
best places clean air healdsburg california
Population: 11,543
Air quality index (% good days): 94%
Air pollution index (lower is better): 83

Auburn, ME
best places clean air auburn maine
Population: 23,544
Air quality index (% good days): 93.8%
Air pollution index (lower is better): 93


Ormond Beach, FL
best places clean air ormond beach florida
Population: 38,239
Air quality index (% good days): 93.4%
Air pollution index (lower is better): 76




 




 

Mortgage rates hit two-year high

 

 

  August 23, 2013: 4:51 PM ET
30 year mortgage rates 082213
NEW YORK (CNNMoney)

The average weekly rate for a 30-year fixed-rate mortgage jumped to a two-year high, Freddie Mac said on Thursday.

 

The rate is now 4.58%, up from 4.4% the prior week.

That is the highest level for the 30-year in more than two years, since it hit 4.6% on July 7, 2011, according to Freddie Mac spokesman Chad Wandler.

Wandler attributed the increase to an improving housing market. He also cited investor concerns about when the Federal Reserve will taper its government bond-buying program, which could affect interest rates.  

 Rising rates could also affect the housing market going forward. A recent survey by real estate company Trulia found that an increase in mortgage rates was the prime concerns among 41% consumers, who worried about that more than price increases.

The 30-year rate hit an all-time low of 3.31% on Nov. 21, 2012. Since then, the 30-year has bounced around, sinking back down to 3.35% on May 2, 2013. The runup to the current two-year high has all occurred in the last three months. (Click here to shop for a mortgage)

Home prices have also been rising.

According to the most recent figures available, the S&P/Case-Shiller home price index was up 12.2% in May compared to a year ago. That was the biggest such jump since March 2006, close to the peak of the real estate bubble.

The recent increase in housing prices has also given rise to concerns of a new housing bubble. But Keith Gumbinger, vice president of the mortgage information web site HSH.com, dismissed those concerns.

"I think it's too early to declare that we're in a housing bubble yet," he said. "We remain well below the peaks of just a few years ago."

He said the housing market is "recovering, and recovering well" but added that mortgage rates of nearly 5% are still historically low.

 



Best big-city neighborhoods

What's the best place to live in NYC? L.A.? Based on NeighborhoodScout.com data, city visits, and talks with locals, we named these top areas, listed by overall city population.

Park Slope, New York City
best places neighborhoods park slope

Median household income: $101,000
Median home value: $854,300
Typical 2-bedroom rental: $3,000

Pros: Historic brownstones and proximity to 585-acre Prospect Park make this area a favorite of New Yorkers looking to escape Manhattan shoeboxes. The new Barclays Center arena is a close walk but still removed from the heart of the neighborhood.

Crime rates are akin to those in the suburbs, and transport options include a 40-minute subway ride to Midtown Manhattan. Locals love the award-winning restaurants, food co-op, farmers' markets, and homegrown bakeries and shops.

"I could go weeks without leaving," says Nancy Liao, founder of a pet-food business.

Cons: Newbies may struggle to adjust to the lack of big-box retail or supermarkets. And the real estate market is brutal (this is New York City): Homes are the priciest on our list, though still lower than in many areas in Manhattan.  

 

 

Silver Lake, Los Angeles
best places neighborhoods silverlake california

Median household income: $62,800
Median home value: $632,000
Typical 2-bedroom rental: $2,100

Pros: Want a snapshot of Silver Lake? Try the two-mile jogging path that surrounds the area's reservoirs, where you'll spot people of all ages and ethnicities walking dogs, working out, and pushing strollers.

Close to 4,200-acre Griffith Park, this area has blossomed in recent years, becoming a haven for families as well as the hipsters who first popularized it. The stretch of Sunset Boulevard that runs through Silver Lake is packed with shops and hotspots, defying the "no walking in L.A." clich�.

Locals say Ivanhoe Elementary is excellent, and involved parents are beginning to raise the bar at other local schools.

Cons: The housing market, especially for homes that feed into Ivanhoe Elementary, can be fiercely competitive.


Lakeview, Chicago
best places neighborhoods lakeview illinois

Median household income: $77,500
Median home value: $345,000
Typical 2-bedroom rental: $1,800

Pros: If any 'hood is all things to all people, it's Lakeview. Ask residents what they like best, and some will tell you about the show they saw in the Belmont Theater District. Others will talk about the parks, golf course, and easy access to Lake Michigan. Then there are those who point to Wrigley Field or the Boystown district, Chicago's largest gay and lesbian community.

And it's all just five miles north of the downtown Loop, with affordable homes and easy access to the L.

Cons: Relative to real estate prices, rents are high. Some areas can get crowded (think Wrigleyville on game day).


Houston Heights, Houston
best places neighborhoods houston heights texas

Median household income: $63,500
Median home value: $251,400
Typical 2-bedroom rental: $2,000

Pros: Houstonians are blessed when it comes to affordable housing and an abundance of jobs. But Houston Heights offers something rare for this city: an urban, walkable area with a cohesive neighborhood vibe.

Shops and restaurants line the main thoroughfare of 19th Street: Highlights include vintage-clothing stores and a small-batch coffee roaster. Pocket parks dot the landscape, one with a community center and pool, and walking and biking paths connect the Heights with the city's larger trail network.

Cons: A few bus routes do run through the Heights, but in general, most residents depend on cars. While a couple of public schools stand out, most are less than stellar; many parents seek out alternatives like magnet schools.


Mount Airy, Philadelphia
best places neighborhoods mount airy pennsylvania

Median household income: $55,600
Median home value: $221,200
Typical 2-bedroom rental: $1,000

Pros: Mount Airy pairs a racially and religiously diverse population with a neighborhood packed with historic homes and leafy streets.

Germantown Avenue, which divides East and West Mount Airy, is the backbone of the nabe and home to shops, art centers, and restaurants. Houses here start at about $200,000, roughly 30% lower than in neighboring Chestnut Hill (though you can easily pay $500,000 in the tonier parts of West Mount Airy).

Plus, the area is just a 10-minute walk from Fairmount Park, where residents can hike and picnic.

Cons: Crime rates are lower than for the city overall, but theft can still be a problem in East Mount Airy.


Windsor Square, Phoenix
best places neighborhoods windsor square arizona

Median household income: $61,600
Median home value: $343,500
Typical 2-bedroom rental: $1,200

Pros: Charming mid-century cottages are a hallmark of this neighborhood-in fact, Windsor Square hosts regular home tours to show them off.

But that's not all residents have to tout. The area has excellent schools, and Windsor Square's small size, array of shopping and amenities, and convenient Metro stop mean locals can often leave the car at home, an unusual option in Phoenix.

"Being able to walk to the explosion of new restaurants, the light rail, and a place to get my hair done is a great lifestyle," says 48-year-old attorney Susan Myers.

Cons: Many homes are on small lots and, for some, changes require approval from the city's historic preservation board.


Alamo Heights, San Antonio
best places neighborhoods alamo heights texas

Median household income: $104,100
Median home value: $386,000
Typical 2-bedroom rental: $1,900

Pros: Five miles north of downtown, Alamo Heights offers a short commute and easy access to the city's botanical gardens, newest mall, and a public golf course. And there's plenty to do in the area itself, thanks to Olmos Basin Park and a slew of stores along Broadway Avenue.

Officially it's an incorporated city (advantage: lower taxes), but locals consider the area a regular San Antonio neighborhood. Alamo Heights is known as an "old money" enclave-and has the top-performing schools to match-but you can find a home for $250,000.

Cons: Public transit options are few. The housing stock is largely single-family homes.


Pacific Beach, San Diego
best places neighborhoods pacific beach california

Median household income: $63,900
Median home value: $620,700
Typical 2-bedroom rental: $2,100

Pros: Pacific Beach has a rep as a nightlife-packed post-collegiate party spot. Lately, however, the area has started to grow up.

Young professionals are flocking for the quality of life and relatively affordable homes (in nearby La Jolla, a typical home costs about $1million). The schools are another draw; Sessions Elementary and Pacific Beach Middle School are among the best in the city.

Courtney Ludwin, 36, moved to Pacific Beach 10 years ago and "fell in love with the laid-back beach community," he says. Last year he and his wife and twin 3-year-old boys bought a house where they can walk to restaurants and the beach. "I'm fortunate to live in a place where most people come to vacation," he says.

Cons: The least diverse on our list. Weekend crowds can mean lines and battles for parking.


Lakewood, Dallas
best places neighborhoods lakewood texas

Median household income: $116,400
Median home value: $392,900
Typical 2-bedroom rental: $1,800

Pros: The key to Lakewood is in the name. During the day, the action is on the bike/walk trails circling White Rock Lake, and in the sprawling parks and gardens. Later, people head into town for shopping and dining, maybe capped with a movie at the Art Deco-style Lakewood Theater.

One of the city's older neighborhoods, Lakewood offers a mix of homes, including stately Tudors. While not cheap, real estate prices are reasonable enough to attract young professionals and families.

Another plus: a very low crime rate.

Cons: Public transit options aren't plentiful. The grade schools are well regarded, but the other schools are less so.


Willow Glen, San Jose
best places neighborhoods willow glen california

Median household income: $101,700
Median home value: $839,800
Typical 2-bedroom rental: $2,000

Pros: Just a five-minute drive from downtown, Willow Glen nevertheless feels more like its own bustling town than an urban outpost. Local businesses include a children's bookstore and Bill's Cafe, a 36-year-old Sunday brunch fixture. The area hosts regular events like music festivals and wine-tasting walks.

The streets are lined with well-kept homes, ranging from century-old Craftsman houses to recent rebuilds. For folks looking to head downtown or to nearby cities, there are three regional rail lines in or bordering Willow Glen.

Cons: Buying isn't cheap. Three-bedroom homes near the main drag start at $750,000. Public schools are improving, but many parents shell out for private options.

 

 

 

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To learn more, please visit our website:

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*affiliated with Kathryn Reitzen Luxury Estates Advisory

 

 

kreitzen@msn.com

  

http://kathrynreitzen.kwrealty.com/ 

 

 

 

 

 

 

 

 

 

 

 


Current Interest Rates

Product Interest Rate APR
Conforming 1and FHA Loans
30-Year Fixed4.625%4.799%
30-Year Fixed FHA4.375%5.893%
15-Year Fixed3.625%3.921%
5-Year ARM3.375%3.208%
5-Year ARM FHA3.625%4.074%
Larger Loan Amounts in Eligible Areas - Conforming and FHA.1
30-Year Fixed4.6254.755%
30-Year Fixed FHA4.500%5.971%
5-Year ARM3.625%3.256%
Jumbo1 Loans - Amounts that exceed conforming loan limits
30-Year Fixed4.500%4.615%
5-Year ARM2.625%2.893%

 

 





Please also check for Wells Fargo rates with John;
                                      

John Borkhus

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Keller Williams is the premier and most respected real estate organization in California. Whether you are buying or selling I will give you the best possible service and representation. Using the latest technology available, your property will receive the best exposure because we market and advertise more effectively than anyone else.

  

Kathryn Reitzen
Luxury Estates Advisor
Short Sales Certified

 
436 North Canon Drive, Penthouse
 Beverly Hills, CA 90210
310-617-4047

 
kreitzen@msn.com 
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