FROM THE PUBLISHERS OF ReAL esTATe guide coastalrealestateguideoc.com | Serving Laguna Beach & Newport Beach Communities JUL y 5, 2013 | VOL. 3, ISSUE 27 CoAsTAL “Our Town-Our Paper” Newly Listed Three Arch Bay Remodel Feel the ocean breeze and enjoy the sunset skies from this fully remodeled three-bedroom, three-bath, single story home on the inland side of Three Arch Bay. Special features include central air conditioning, high exposed beam ceilings, custom lighting, audio system and spacious open floor plan. The great room, kitchen and dining room reflect a design intended for entertaining, finished with hardwood floors. French doors lead outdoors to a BBQ patio and spa. The master bedroom suite includes a fireplace. Amenities include private beach access to the coves of gated Three Arch Bay. featured PrOPertY: Laguna Beach Address: 20 S. Stonington Road Price: $1,699,000 Agent: Shauna Covington, Prudential California Realty, 949.395.8786, www.shaunacovington.com Mortgage rates have been kept artificially low for the past few years due to a governmental stimulus Richard T. Cirelli, program called “quantitative easing” President, CMPS or QE. Through this program, the RTC Mortgage government has been purchasing Corporation the majority of the mortgage-backed securities issued by Fannie Mae and It’s all Freddie Mac. These securities consist of loans originated by virtually all about rates lenders. At rates in the 3% area, There has been no shortage of most private investors wouldn’t be news talk about rates this week. interested so the government buys Everyone is asking “what happened” up the volume in order to keep the and “will they come back down”? flow of mortgage money circulating. aSK the eXPert When they stop buying, rates will have to rise. There has been ongoing speculation as to when the Fed may stop buying or taper their buying of these securities. As the economy improves, the buying has to stop. Last week, Fed Chairman Ben Bernanke hinted that the Fed may stop sooner rather than later and the financial markets went berserk with interest rates rising dramatically. And every day since has experienced extreme volatility in mortgage rates as well as in the stock market. This week the Fed seems to be trying to do some damage control and it has helped to soften things a little with rates recovering somewhat. It’s almost comical to hear them back peddling to calm the markets. So far, it’s working, at least a little. To see what factors are influencing the daily activity of the mortgage market, click on the following link: http://www.rtcmortgage.com/ DailyRateLockAdvisory reaL eState BrIefS Hôm Sotheby Opens Another Desert Office Newport Beach-based Hôm Sotheby’s International Realty recently opened its newest desert office in the Coachella Valley. The opening of 70380 Highway 111 marks the fourth office to open in the desert communities, said a company statement. “Our goal is to provide our clientele with the Prudential Adds McMonigle to OC Team Prudential California Realty added the real estate team led by John McMonigle to its Newport Beach office. “The McMonigle team’s extensive experience in selling luxury real estate in some of the most desirable Orange County communities is a great enhancement to our group of high-performing agents in this area,” said David M. Cabot, Prudential’s president and chief executive officer. The McMonigle team represented home sale transactions of $4 billion in the past 10 years, said a statement from Prudential, which has 3,200 sales associates in 62 offices in the state. John McMonigle best real estate brokerage representation and marketing services available,” says Mike Shapiro, chairman of the company established in 2005.