first time buyers: ATTENTION VENTURA COUNTY FIRST TIME BUYERS: Ventura Home Now Eligible for HomePath Financing - 12/19/11 05:18 PM
Ventura is just one of the wonderful beach communities here in Ventura County. Much of Ventura is just minutes from some of the counties best beaches as well as the shopping and entertainment destinations.
While the market here in Ventura County is still considered a distressed market, buyers in the Coastal Communities can still purchase great properties (minutes from the beaches) with only 3% down and still pay less for their mortgage than what it would cost them to rent the same property.
Right now, Fannie … (3 comments)
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first time buyers: ATTENTION VENTURA COUNTY FIRST TIME BUYERS: Port Hueneme Home Now Eligible for HomePath Financing - 11/14/11 03:09 PM
Port Hueneme is just one of the wonderful beach communities here in Ventura County. Much of Port Hueneme is just minutes from some of the counties best beaches as well as the shopping and entertainment destinations of Channel Islands.
While the market here in Ventura County is still considered a distressed market, buyers in the Coastal Communities can still purchase great properties (minutes from the beaches) with only 3% down and still pay less for their mortgage than what it would cost them to rent the same property.
Right now, … (7 comments)
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first time buyers: "I'm the original owner and did everything myself!" - 11/02/11 12:35 PM
I really enjoy many of Russel's post. As an experienced home inspector here in SoCA, he is really great about sharing his stories and experiences with us. I really loved this one because if I were a practising Realtor/agent/inspector, I too would be highly suspect of any homeowner who "did all the work" themself.
If the homeowner is not a licensed contractor, they that typically means that everything they touched was probably done incorrectly and not to code.
ATTENTION HOME BUYERS: THIS IS A CLASSIC EXAMPLE OF WHY YOU NEED A HOME INSPECTION BEFORE YOU BUY ANY HOME!!!
Especially if it's an original … (6 comments)
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first time buyers: Keeping Family Away From Buyers - 09/17/11 02:08 PM
Gary brings up a very good topic and one that I have blogged about more than once before myself. As an MLO who works with a lot of 20-something, first timers here in Los Angeles & Ventura counties, I've had my fair share of controlling parents.
For the most part, I thoroughly love working with my borrowers parents because most of them are really great people who just want to help their kids buy a home (although some are trying to get their kids out of their own homes - LOL) and if it wasn't for some of my borrowers parents, these kids wouldn't be able to … (14 comments)
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first time buyers: Fence Sitters??? Shadow Buyer Inventory??? Future Clients!!! OH YEAH!!! - 09/08/11 03:49 PM
I recently came across The "Other" Shadow Inventory by JPhilip Faranda that discussed all the buyers out there working with Realtors/agents, looking at properties but who will probably never result in the purchase of a property. But it was Karen Fiddler’s Buyer's On The Fence.....Waste Of Time Or Pipeline that struck home for me. While JP may be presenting the realities of his experiences in his market, for me, here in my market, today’s fence sitters and shadow buyer inventory are future buyers/borrowers. Like Karen, I too have several different client pipelines and while some of these are active … (48 comments)
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first time buyers: ATTENTION SIMI VALLEY FIRST TIME BUYERS: Down Payment Assistance Available for SIMI VALLEY Home - 08/10/11 11:58 AM
REAL ESTATE RECOVERY - Simi Valley, CA (Ventura County)
While Ventura County is still considered a distressed market, buyers can still purchase their first home for less than what they are paying to rent.
Right now, there are dozens of 4bd properties in Simi Valley that are eligible for up to $200,000 in down payment assistance. Many of these properties are not REO's or short sales but actual equity sales with really motivated sellers like this property.
This wonderful 4bd/2ba WHITE OAK home offers nearly 1,800 sq. ft. of living space on a nearly 8,000 sq. ft. lot. This wonderful home features a as new dual paned windows … (12 comments)
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first time buyers: AR SUCCESS STORY: Newlyweds Buy Lovely Family Home in Moorpark - 08/07/11 02:45 PM
REAL ESTATE RECOVERY - Moorpark, CA (Ventura County)
While Ventura County is still considered a distressed market, first time buyers are still very excited about the dream of homeownership.
I love AR success stories, especially when they're mine.
Yes, it's really nice to read other people's AR success stories but there is just something special about being able to tell your own AR success story, which is something that I try to do every time. I’m one of those types of folks that will ask permission before I blog about my clients and their transactions. Sometimes they say yes and … (28 comments)
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first time buyers: Job Juggling is the New Reality for Many Prospective Homeowners! - 07/20/11 07:11 PM
I recently came across a New York Times article about "Job Jugglers", young people who find they are working long work weeks with more than one job.
After completing their educations (with a boatload of school loans), these young folks not only strive to stabilize their financial means by doing whatever they have to but they rather enjoy it and really don't want to limit themselves to just one job.
The article goes on to state that this trend is probably not going to change anytime soon.
"The likelihood of this generation devoting their professional life to just one job … (15 comments)
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first time buyers: The War is Still Raging.....Buyers are Just Battling a Whole Different Opponent Now! - 04/26/11 04:00 PM
I recently came across, Waging War . . . Real Estate Deals Where No One Wins! by Carla Muss-Jacobs. Carla describes some of her more recent transactions as "war-like" and her buyers as having the propensity of "ripping the sellers' flesh off". It kind of reminded me of my own market but not exactly in the way that Carla sees her market.
I started in the mortgage industry in 2002, a time when sellers were getting double rates of appreciation every year for their homes. A time, not so different from today, when multiple offers were the norm not just on the really nice … (24 comments)
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first time buyers: SELLER TRANSFER DISCLOSURE STATEMENTS: What They Are & Are Not! - 01/18/11 11:34 AM
When buying a home here in CA, state civil codes dictate that all sellers are required to complete a property transfer disclosure statement (TDS), outlining any info and/or details about the condition of the subject property and the appliances in the property as well as any defects, major repairs or remodeling, any city code violations or neighborhood issues and/or future building plans.
Furthermore, the listing agent (LA) is also required to disclose any info and/or details they have or know about the property or have visually discovered, regardless of whether or not the sellers have already disclosed the info and/or details … (11 comments)
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first time buyers: What kind of property can I buy? FAQ - #2 - 01/05/11 01:13 PM
In Part 1, I discussed the different first time buyer and down payment assistance (dpa) programs that are available to prospective buyers here in the Los Angeles & Ventura counties.
In Part 2, I want to discuss some of the specific property qualifying requirements for the different programs that I didn't address in my post links in Part 1. Here in Los Angeles & Ventura counties, no two down payment assistance (dpa) programs are alike.
While all dpa programs are specifically geared for the low-median borrower, even the income guidelines can vary from program to program. All dpa programs are all … (3 comments)
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first time buyers: 8915 Fenwick Street, Sunland, Ca. 91040 - 11/08/10 02:50 PM
ATTENTION FIRST TIME BUYERS: Sunland Home is Eligible for Down-Payment Assistance & Below Market Interest Rates
CalHFA has recently launched their new FHA program as well as their improved Cal30 program and their CHDAP dpa program. CalHFA offers a reduced interest rate for eligible homebuyers who meet the low-medium income limits (based on household size). The following are the current rates to eligible low-medium income applicants for both conventional loans as well as the FHA loans:
CHDAP provides down payment assistance in the form of a deferred payment second loan, commonly referred to as a "silent second" because you … (5 comments)
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first time buyers: ATTENTION SIMI VALLEY FIRST TIME BUYERS: Fannie Mae HomePath Properties Eligible for Up to $200,000 in Down-Payment Assistance - 10/02/10 03:04 PM
Fannie Mae is offering buyers up to 3.5% in closing cost assistance and a $1,500 bonus to Buyers Agents (BA) on HomePath (HP) properties that close escrow on or before December 31, 2010.
In order to be eligible for these special HP incentives, properties must close within 60 days of the offer being accepted and buyers must be occupying the property as their primary residence. Furthermore the BA's must submit the offer after September 23rd and must request the incentives in the initial offer.
The 3.5% seller contribution must be used towards closing costs and the seller credit may … (2 comments)
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first time buyers: ATTENTION SIMI VALLEY FIRST TIME BUYERS: Eligible Homes Available for $200,000 in Down Payment Assistance (30DC28) - 09/23/10 11:54 PM
Right now, there are more than 70 4bd properties in Simi Valley that are eligible for up to $200,000 in down payment assistance. Furthermore, these are not like those run-down, dilapidated dumpy REO's that the market is saturated with. No way, more than half of these properties are totally move-in ready; properties that upgraded and/or totally remodeled properties.
For example, like this spectacular 4bd/2ba pool home with nearly 1,500 sq. ft. of living space on a large lot of nearly 10,000 sq. ft. This home offers a remodeled kitchen with granite countertops and stainless steel appliances w/slide out pantry … (6 comments)
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first time buyers: RENTER MENTALITY: Some People are Just Not Meant to Be Homeowners (30DC27) - 09/22/10 05:43 PM
Some people are just not meant to be homeowners. It takes a certain kind of person to want to be a homeowner, especially a first time buyer and around here (Los Angeles & Ventura counties), you have to want it really bad in order to get it.
You have to want it so bad, that you are ready, willing and able to sacrifice certain wants and needs in order to even get into escrow. Furthermore, you have to have a certain kind of mindset in order to even begin thinking like a prospective homeowner. In other words, you have to completely … (23 comments)
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first time buyers: The Buyer Who "Doesn't Want" An Agent: A Surefire Way to Wreak Havoc - 09/20/10 12:20 PM
I liked this post so much, I decided to reblog it because it is a very important message to buyers, especially here in Los Angeles & Ventura counties. Having worked with so many buyers over the years who simply refused to work with a buyers agent (BA) because they thought they would save money going with the listing agent (LA), I can tell you first hand, these have been some of the most difficult transactions.
Furthermore, I have never seen these buyers save any money. Quite the contrary, more times than not, they actually end up spending more than they should … (5 comments)
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first time buyers: LOOKING FOR A HOME TO BUY CAN BE A FULL-TIME JOB (30DC20) - 09/15/10 12:38 PM
For some prospective homebuyers, looking for a home is about checking out a few open houses on the weekend and after a couple of weeks, they find something they like, make an offer, sellers accept it and they open escrow. Sound familiar to anyone?
To some this may sound just like how they bought their home. However, for so many prospective buyers here in Los Angeles & Ventura counties, this is certainly not a familiar scenario that many of these prospective homebuyers can relate to, at least not many of my clients.
For many prospective homebuyers, looking for a home has … (7 comments)
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first time buyers: ATTENTION LOS ANGELES COUNTY FIRST TIME BUYERS: NSP Receives More Than 27M in Additional Funds (30DC18) - 09/13/10 12:18 PM
I subscribe to the daily webcasts of Think Big, Work Small (TBWS), which is hosted by these two guys, Brian Stevens & Frank Garay. TBWS was founded a couple of years ago by a bunch of real estate and mortgage people who wanted to teach others in the business how to work smarter to grow their business.
This morning's video was especially interesting because there was a segment on the Neighborhood Stabilization Program (NSP) receiving their new allotment of funds. For those who don't know what NSP is, the NSP was developed to stabilize communities that have suffered from foreclosures and … (4 comments)
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first time buyers: ATTENTION SIMI VALLEY FIRST TIME BUYERS: Eligible Homes Available for $200,000 in Down Payment Assistance (30DC06) - 09/01/10 11:55 PM
Right now, there are more than 40 4bd properties in Simi Valley that are eligible for up to $200,000 in down payment assistance. Many of these properties are not REO's or short sales but actual equity sales with really motivated sellers and are NOT like all the other run-down, dilapidated dumps you've been seeing. Many have been remodeled and/or upgraded like this property.
Situated in a highly desirable neighborhood, this home offers more than 1600 sq. ft. with bd/2.5 ba. Open floor plan with high vaulted ceilings. New stainless steel appliances and a breakfast nook for in kitchen dining. Property also features gated RV access and large backyard with a carpeted sunroom … (5 comments)
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first time buyers: IT’S A HOME, NOT A PIECE OF STOCK! (30DC05) - 08/31/10 11:23 PM
ATTENTION FUTURE HOMEOWNERS: If you are currently looking to purchase a primary residence to live in for awhile, please keep in mind, you're buying a home not some piece of stock for your investment portfolio.
Stop thinking of the place where you and your family will live for many years to come and where you will be making memories that will last a lifetime as some piece of stock that is to be traded on the market for maximum return on the dollar.
Don't get me wrong, I think it's absolutely vital that a whole laundry list of matters need to … (48 comments)
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