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Has finding a first home been struggle? Getting beat out by All Cash buyers? Multiple Offers on everything you are interested in?

Here are a couple of ideas to think about:

1. Check out the homes listed by HUD. For CA, HI and GA, these homes are listed on the PEMCO website. Homes listed on the site are available to Owner-occupied buyers only for the 1st 10 days of the listing. This means you are not competing with investors until after 10 days on market - makes your chances much better. Also, Owner-occupied buyers using an FHA insured loan can put as little as $100 down...Yes One Hundred Dollars!!

2. FHA 203K loans are available for purchasing a home that may need some rehab work. This means you can find a home that may need some work and wrap up the rehab costs into the loan. As an example, the house needs flooring, new cabinets, termite damage repairs. By starting with an FHA 203K loan, and getting bids for repair work, you can place an offer on a home that would not be eligible for a regular FHA loan. This should open up your list of available properties to include fixers that you might not have looked at before.

 

90 Day FHA Rule Temporarily Going Away!
01/19/2010
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Great news from HUD The rule requiring a property to age at 90 days before it's last sale before using FHA-insured financing is going to be waived, with a few conditions, starting February 1st, 2010. The waiver will be in effect for 1 year. This… more
Check the windows when you do an open house!
05/05/2009
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We are starting to see a disturbing trend in and around the Sacramento area, so I thought I would share what we are seeing. Within the last 2 months or so, appliances and other items have been "walking" out of vacant homes with no signs of forced… more
What's Your Best Guess on When the Market Will Turn Around in Your…
05/03/2009
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So now that we have been in this market for awhile, what is your best guess on when we will start coming out of it in your area? Here in the Sacramento area, we have been deep into foreclosures and short sales for nearly 2 years now, and I think we… more
What is the strangest thing you have found in an REO property? Here's…
12/31/2008
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Ok, I have seen a lot of strange things over the past year of listing REOs. The strangest has to be this one! As I was taking pictures and making an inventory of property that was left behind, I stumbled on this old prosthetic leg in the corner of… more
Here We Go Again - LandAmerica Files Bankruptcy Chapter 11
11/26/2008
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It seems like just yesterday that Financial Title closed their doors. Now we have LandAmerica shutting down their 1031 exchange, filing bankruptcy, and selling off part of the business to Fidelity. Who will be next? This downturn has affected all… more
FHA Hope for Homeowners - List of Participating lenders announced
10/23/2008
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FHA has come out with the current list of lenders who have expressed an interest in participating in the progrgam. The list will be refreshed on most Fridays. This program became effective as of October 1st, 2008 and runs through September 30,… more
Golden 1 Rescue Loans and Repair Loans - What do you know about them?
10/20/2008
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Golden 1 Credit Union is offering 2 loan programs: Mortgage Rescue program for their members who are facing foreclosure on a loans from another lender. Mortgage Repair loan for their members who have lost the home to foreclosure and are… more
The day I made my Dad proud!
10/18/2008
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As children, we are always trying to please our parents and hope that they are proud of us. As adults, I think we still strive for that at times. I have been in Real Estate for just under 5 years now and the other day, I thought back to the day I… more
Do You Blue Tooth?
10/16/2008
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As of July 1st of this year, it is illegal to use a cell phone while driving unless its hands free. Now, granted just the act of talking on the phone is a distraction, but actually using the handset instead of a corded or blue tooth headset is even… more
 
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Bonita Malone, GRI, SFR, CDPE

Sacramento, CA

More about me…

Better Homes and Gardens Mason-McDuffie Real Estate

Address: 1819 K Street, Ste 100, Sacramento, CA, 95811

Office Phone: (916) 491-1516

Cell Phone: (916) 502-1049

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