Platinum Funding Group, Inc.

Platinum Funding Group, Inc. Platinum Funding is a full service Mortgage Banker located in Southern California.

The company was founded in 1998.We work with more than 75 lenders in 50 States. You will find that the skill, professionalism, and consideration given to each of our clients make getting your loan a successful endeavor.

04/06/2013

There were 88k Jobs created in March. This is much worse than the 195k expected.
The unemployment rate dropped to 7.6%, which appears to be a good number…but not so fast. This drop was due to people leaving the workforce. An astounding 663k eligible workers decided that they are not interested in looking for a job. The government excludes anyone who does not actively seek employment for the past four weeks. When you exclude these workers, the overall labor pool number shrinks, making it appear that those who are unemployed represent a smaller overall percentage. And as per the last report, 7.6% of the labor pool are unemployed. The labor pool, as a percentage of eligible workers, is called the participation rate. And currently, the participation rate is 63.3%. If this sounds low to you, you’re right. It’s the worst number since May of 1979, back when Jimmy Carter was President, the US was in terrible financial shape, and rates were approaching 20%. These numbers come from the Household Survey, where the report showed that we actually lost 206k jobs in the month of March.

04/01/2013

A 'fast, furious' spring homebuying market! As the season heats up, competition for homes could get more intense.
With a shortage of homes on the market in Orange County and "demand through the roof," residential values are appreciating quickly.
Inventory this month is close to the low level last seen in 2004. Meanwhile, the median sale price of an Orange County house reached $477,000 in February, up 22 percent from February 2012 and the highest median price since May 2008, according to a report from DataQuick released earlier this month.

03/28/2013

Shadow' home inventory down 28% from peak!
The number of homes lurking in the nation's "shadow inventory" has dropped 18 percent over the past year and 28 percent over three years, reducing the threat to home prices that such distressed properties posed in the past.
As of January, 2.2 million U.S. homes were in the shadow inventory that is, foreclosed and delinquent properties that have yet to hit the market. It would take nine months to sell all those homes at the current sales pace.

03/26/2013

Affordable rentals in short supply in O.C.!
The number of renters is on the rise in Orange County, but the number of rentals to choose from isn't keeping up with the rising demand. Orange County renters increased by 15.2 percent from 2005 to 2011. But rental homes in that period increased by just 11.4 percent.
As a result, vacancies have dropped, rents have gone up and competition among house and apartment hunters has gotten intense.
During the past two years, rental vacancy rates dropped to their lowest levels since 2007. Shoppers for apartments in large complexes had 6,400 empty units to choose from at the end of last year, down from 9,500 at the start of 2009...

03/25/2013

It's not just a housing revival!!
These days the media is full of headlines about housing taking the lead in the economic recovery. That's true, but the single minded emphasis on for-sale housing is misleading, when it seems to suggest that not much is happening in other real estate sectors.
That's not true, because the apartment and condominium markets are also improving. Furthermore, the risk appetite among lenders and investors in the commercial sector is increasing with more vigor. What this means is that almost the whole real estate sector is now beginning to contribute to economic growth. No wonder, therefore, that the national construction sector added 48,000 jobs in February with gains evenly split between residential and nonresidential specialty contractors.
As for landlords, NAHB's Multifamily Production Index -- measuring builder sentiment in the apartment and condominium construction sector – is on the upswing. This index rose 3 points to a level of 54 in 2012's fourth quarter, which is the fourth straight quarter with a reading over 50. A reading over 50 means that a majority of respondents see market conditions improving. The index also differentiates between market-rate rentals, low-rent units, and condominiums. Although measured strength in market-rate rentals dropped four points to 65 points in 2012's final quarter from the third quarter, the index has been above the bullish 60 mark for six consecutive quarters. That's the longest period of strength since 2003, when the survey was established.

03/25/2013

O.C. home listings near 9-year low!
The number of homes for sale in Orange County last week fell to their second-lowest level in numbers dating back nearly nine years.
As of March 14, 3,183 Orange County homes were listed for sale in the MLS. A year earlier, Orange County had 7,000 homes for sale. The average in figures dating back to June 2004 is 10,000 listings.
Although the inventory “sits at an unprecedentedly low level,” the local housing market shed 54 homes in the preceding two weeks and 89 in the previous month.
“The inventory is off to such an anemic start because the number of short sales and foreclosures coming on the market thus far this year has plummeted compared to 2012,”.

03/22/2013

28,000 O.C. homeowners no longer underwater!
Rising home values pushed nearly 28,000 Orange County homeowners “above water” last year, meaning their homes no longer are worth less than the amount owed on their mortgages. The number of underwater homeowners fell to 15.3 percent of all homes with a mortgage versus 20.2 percent in the fourth quarter of 2011.
Overall, 84,524 Orange County homeowners owed more for their homes than they were worth in the fourth quarter of last year. That’s 27,756 fewer than in the fourth quarter of 2011.

03/18/2013

Prices up 13% for smaller, older houses!
DataQuick analyzed prices of similar-sized, older houses last month to pin down how much of Southern California's recent home price gains are due to actual increases in home values, vs. changes in the types of homes sold.
The result: About 13 percent of last month's price shifts are due to appreciation. The median price increased 20.9 percent last month year over year for all Southern California homes.

03/15/2013

Cheer quietly for higher home prices!
Let's cheer real estate's budding rebound with a needed dash of sobriety: Expensive housing is an economic blessing – and curse.
Orange County's pricey shelter, for an example, means that bosses have to pay a premium to get talent to move or stay here. That's no small potatoes item to bosses thinking California isn't for them.

03/13/2013

O.C. home still costs triple U.S.
The relationship between Orange County home prices and national housing costs. Using National Association of Realtors data for median selling prices for single-family home resales...

03/11/2013

Could a revised Mortgage Interest Deduction Could Boost Homeownership and the Economy?
Congress continues to wrestle with how to trim spending, a hotly debated topic is the federal tax deduction for home mortgage interest. And it’s no wonder why, when you consider that the home interest deduction is estimated to cost the federal government $100 billion a year.

03/09/2013

12% fewer homes coming on O.C. market!
The number of Orange County homeowners putting their properties up for sale this year dropped 12 percent, keeping listings near the lowest level seen in at least nine years.
During the first two months of the year, 5,887 homes entered the market, vs. 6,721 in the first two months of 2012...

Address

2061 Business Center Drive, Ste 111
Irvine, CA
92612

Opening Hours

Monday 9am - 6pm
Tuesday 9am - 6pm
Wednesday 9am - 6pm
Thursday 9am - 6pm
Friday 9am - 6pm

Telephone

+18885377007

Website

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