Yesterday the U.S. Treasury played their April Fool’s Day trick early – they quit buying Fannie Mae & Freddie Mac mortgages! This program was instrumental in stabilizing interest rates throughout the country – many people said it subsidized home purchases by keeping interest rates too low. It’s too soon to say how it will affect interest rates but it is expected to raise rates by around an 1/8th of a point. On a $300,000 loan that would be about $23.00 a month more. If these predictions prove correct the change in policy won’t have much effect on home sales – good news! Meanwhile the inventory of La Crescenta homes for sale is still at record lows!
Just a quick note to mention a great property I saw on Caravan yesterday. Located on a quiet, picturesque cul de sac in one of La Crescenta’s best school districts, this great home features a pool & a guest house. I drove amid the deodars up the quiet lane to 2377 Pickens Canyon Rd, La Crescenta. What a great property! Located on a huge lot with a 3 bedroom 2 bath home plus a full guest house, a pool, great landscaping, this home is move in ready! What a fabulous value.
Here are a couple of notable homes on the La Canada Homes for Sale Caravan this past week. (Caravan is the day that brokers look at homes when they are put on the market). These are the two that really stood out!
These elegent homes are in the Flintridge area of La Canada. Charming streets in great neighborhoods!
Just below Foothill Blvd. 4377 Commonwealth looks fabulous from the street. Around the corner at 4363 Oakwood Ave. is another beautiful estate home off. Both of these homes offer elegent living in the foothills of the San Gabriel Mountains and the Verdugo Hills.
Here are January’s Winners!
My Client(s) of the Month are Don & Susan Wells – Congratulations!
And the winner of the December quiz contest is Patricia Lux-Breazier.
Thank you to all my friends and clients. I hope you all have a wonderful New Year!