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first time home buyer: FHA Mortgages Are Poised to Get More Expensive - 04/11/12 01:38 PM

As the cost of FHA financing continues to go up, Conventional financing is gaining more and more traction with First Time home Buyers.  I have an excellent loan officer that offers 5% conventional financing that ends up being a better loan product in most cases than FHA.
The Federal Housing Administration (FHA) plans to impose significant restrictions on the amount of money that sellers can contribute at closing in the near future.  The FHA also will be raising its mortgage insurance premiums during the coming weeks, increasing charges for new purchases across the board.
Making sense of the story
One … (0 comments)

first time home buyer: Sierra Oaks, Wilhaggin, Del Dayo and Shelfield - Sales Data for March 2012 - 04/09/12 09:03 PM
There were 12 homes sold in Sierra Oaks, Wilhaggin, Del Dayo and Shelfield in the month of March 2012 . This is a increase from the 5 sold in  February 2011.  Here are the addresses and specific details:
 

 
 
Currently there are: 38 active listings, 3 active short sale listings, 13 contingent short sale listings, and 14 pending sales.

If you would like more information (pictures, listing history, what type of sales they were, etc.) feel free to call or email and I’d be happy to provide that for you.  Call or email me if you are looking to … (0 comments)

first time home buyer: Arden Park and Arden Oaks - Sales Data for March 2012 - 04/09/12 08:50 PM
There were 8 homes sold in Arden Park and Arden Oaks in March 2012.  That is slight increase from the 5 sold in the month of  February  2012.  Here are the addresses and specific information: 
 
 
 
 
There are currently: 23 active listings, 3 active short sale listings, 4 contingent short sale listings, and 5 pending sales.
 
If you would like more information (pictures, listing history, what type of sales they were, etc.) feel free to call or email and I’d be happy to provide that for you.  Call or email me if you are looking to buy or sell … (0 comments)

first time home buyer: Elmhurst and Tahoe Park Sales Data - March 2012 (Sacramento, Ca) - 04/09/12 08:39 PM
There were 9 homes sold in Elmhurst and Tahoe Park in the month of March 2012.  That is a slight decrease from the 10 homes sold in the area in the month of  February 2012.  Here are the addresses and specific information.

 
Currently there are: 17 active listings, 5 active short sales, 15 contingent short sales, and 16 pending sales.
If you would like more information (pictures, listing history, what type of sales they were, etc.) feel free to call or email and I’d be happy to provide that for you.  Call or email me if you are looking to buy or … (0 comments)

first time home buyer: Land Park and Curtis Park Sales Data - March 2012 (Sacramento, Ca) - 04/09/12 08:26 PM
There were 17  homes sold in Land Park and Curtis Park in the month of March 2012 .  That is a slight decrease from the 18  homes sold in the month of  February 2012.  Here are the addresses and specific information.

 Currently there are: 33 Active listings, 3 Active short sale listings, 0 Contingent short sale listings, and 13 Pending sales.

If you would like more information (pictures, listing history, what type of sales they were, etc.) feel free to call or email and I’d be happy to provide that for you.  Call or email me if you are looking to buy or … (0 comments)

first time home buyer: East Sacramento: McKinley Park, Fab 40's, River Park, East Sac, East Portal Park - Sales Data for March 2012 - 04/09/12 08:14 PM
There were 27 homes sold in East Sacramento in the month of March , 2012.  That is a slight increase from the 26 homes sold in the area in the month of  February  2012 .  Here are the addresses and specific information.
 

 
Currently there are: 43 Active listings, 5 Active short sale listings, 12 Contingent short sale listings, and 26 Pending Sales.
If you would like more information (pictures, listing history, what type of sales they were, etc.) feel free to call or email and I’d be happy to provide that for you.  Call or email me if you are looking to buy or … (0 comments)

first time home buyer: 3 Hot Trends for Kitchen Remodeling in 2012 - 04/04/12 08:26 PM

Mulling a kitchen remodel but want to keep costs low? You’re au courant with today’s trends that emphasize options and high-tech wizardry at affordable prices.
Trend #1: Remodeling scales back
A new focus on moderation and value has entered the remodeling mind-set. Trends that are likely to show up in your kitchen next year include:You’ll repair your existing appliances instead of replacing them, extending their life with good maintenance and care. If you’re replacing cabinets, you’re likely to build around your current appliances rather than choosing new models.You’re scaling back your cabinetry purchases, with an increased emphasis on kitchen storage and functionality overelaborate decoration. For example, rather … (3 comments)

first time home buyer: FHA TAKES ADDITIONAL STEPS TO BOLSTER CAPITAL RESERVES - 04/02/12 12:47 PM

 
New premium structure will help protect FHA’s MMI fund
 
WASHINGTON – As part of ongoing efforts to encourage the return of private capital in the residential mortgage market and strengthen the Federal Housing Administration’s (FHA) Mutual Mortgage Insurance Fund,
Acting FHA Commissioner Carol Galante today announced a new premium structure for FHA-insured single family mortgage loans. FHA will increase its annual mortgage insurance premium (MIP) by 0.10 percent for loans under
$625,500 and by 0.35 percent for loans above that amount. Upfront premiums (UFMIP) will also increase by 0.75 percent.
 
These premium changes will impact new loans … (1 comments)

first time home buyer: Answers for First-Time Buyers - 03/25/12 04:32 PM

March 2, 2012| by Sarah Stelmok, ABR, GRI, e-Pro
 
Many people in the market today are first-time home buyers who would not have been able to buy when home prices were higher. Enticed both by lower prices and bank promotions, these eager hopefuls are have taken the signs of deals as the best chance to make their first real estate move  .
While all home buyers need help with the short sale process, it’s especially challenging to address the needs and concerns of a first-time home buyer who has decided a short sale is the home for them. Here’s how to … (0 comments)

first time home buyer: Don’t Forget To Save Money On Your Taxes This Year - 03/20/12 07:07 PM

 
Homeowners should be aware of these tax breaks that they may be eligible to receive. Consult a Certified and licensed Tax Professional.
Mortgage interest: Homeowners are generally entitled to reduce their taxable income by the amount of mortgage interest they pay, as long as they itemize deductions on their tax returns.  Private mortgage insurance: Homeowners who are paying PMI likely will be able to fully deduct the amount, as long as their adjusted gross income is $100,000 or less ($50,000 for married taxpayers filing separately).  Borrowers with incomes above $100,000 may qualify for a partial deduction. Energy-efficient home improvements: … (1 comments)

first time home buyer: Where Are All the Home Sellers? - 03/19/12 03:51 PM
As we’ve been discussing in our Sacramento area: low inventory, high demand and a flattening sales price.  It’s happening in other parts of the country as well.  Check out this article from the Wall Street Journal.

By Nick Timiraos of the Wall Street Journal  
 
Inventories of homes listed for sale in January dropped by 6.6% from December to 1.77 million, the eighth straight month that listings have declined. For-sale listings are 23.2% below year-earlier levels and at the lowest point since the housing bust accelerated five years ago, according to data from Realtor.com.
All but one of the 146 … (1 comments)

first time home buyer: Home Buying: Most Affordable in Decades - 03/15/12 01:35 PM

NEW YORK (CNNMoney) -- Buying a home is now more affordable than it has been in the last twenty years.
Thanks to continued declines in home prices and rock-bottom mortgage rates, the National Association of Home Builders/Wells Fargo Housing Opportunity Index hit a record level of affordability.
 
According to the index, 75.9% of all new and existing homes sold during the three months ended Dec. 31 could have been comfortably purchased by families earning the national median income of $64,200.
 
That was the highest percentage recorded in the 20-year history of the index, and a sharp increase from just three months … (1 comments)

first time home buyer: Points Lose Favor - 03/14/12 08:10 PM
With interest rates at or near record lows, many borrowers are seeing little reason to pay points when buying or refinancing a home.  Some are even opting for what’s known as “negative points,” agreeing to a slightly higher rate to help pay closing costs.
Making sense of the story
Paying points enables a borrower to “buy down” the interest rate on a mortgage in exchange for an upfront fee.  The trend away from points partly reflects borrower sentiment that rates are already low enough, according to industry experts. A point equals 1 percent of the loan amount, so paying one point … (0 comments)

first time home buyer: History of Sacramento Real Estate 1986 - 2012 - 03/13/12 09:08 PM
Doug Reynolds, a Sacramento Area Realtor, gives a detailed analysis of the median Sales price in Sacramento Real Estate.  He discusses the ups and downs of the past 25 years in the area.  Doug also discusses the fact that since interest rates are historically low, homes for sale inventory is low and buyer demand is high.  Due to those factors, he feels 2012 is the bottom of the market and the beginning of a new moderately climbing market.
 
What do you think is going to happen in the next 5, 10 or 25 years???
… (0 comments)

first time home buyer: Sacramento County Housing Statistics for February 2012 - 03/12/12 07:53 PM

 
Median Sales price Rises!
 
The law of supply and demand are beginning to take effect in the Sacramento Area Real Estate Market.  For months and months I’ve been sharing how there is extremely low inventory and huge buyer demand, multiple offers and bidding wars on well-priced houses.  February 2012 is showing that in the numbers now.  The median sales price increase by 1.9% from January to a new median of $163,000.  For over a year, the median price has been in the 160 range, showing a sign of flattening/bottoming in our area.  The inventory is at its lowest … (1 comments)

first time home buyer: First Time Home Buyer Thoughts - 03/10/12 02:55 PM

 
Home buying doesn’t begin with home searching; it begins with a mortgage pre-approval.  Often, first-time home buyers fear getting pre-approved because they’re afraid the lender may tell them they do not qualify for a mortgage or they qualify for a loan smaller than expected.  However, by getting preapproved, buyers will make a financial decision rather than an emotion one. Another mistake first-time home buyers make is not thinking of a house as a long-term commitment.  If a buyer may have to switch jobs in a year or two and may have to move for the job, they should think … (2 comments)

first time home buyer: Is a Tankless Water Heater Right for You? - 03/09/12 12:20 PM


Tankless water heaters cut energy bills but aren’t the right choice for everyone. Here’s how to figure out if going tankless makes sense for you.
Traditional vs. tankless water heater
Traditional hot water heaters typically live in your basement and provide gallons of hot water at one time: an 80-gallon tank heats enough water to shower, run a dishwasher, and do a load of laundry simultaneously. But standby energy loss is significant with hot water heaters, and once you've exhausted the hot water supply, you’ll wait 20 to 60 minutes for the heater to cook up more.A tankless water heater produces … (1 comments)

first time home buyer: Arden Park and Arden Oaks - Sales Data for February 2012 - 03/08/12 07:19 PM
There were 5 homes sold in Arden Park and Arden Oaks in February 2012.  That is slight decrease from the 6 sold in the month of January 2012.  Here are the addresses and specific information:
 

 

 
 
 
 
 
 
There are currently: 18 active listings, 3 active short sale listings, 6 contingent short sale listings, and 9 pending sales.
 
If you would like more information (pictures, listing history, what type of sales they were, etc.) feel free to call or email and I’d be happy to provide that for you.  Call or email me if you … (0 comments)

first time home buyer: Elmhurst and Tahoe Park Sales Data - February 2012 (Sacramento, Ca) - 03/07/12 06:48 PM
There were 10 homes sold in Elmhurst and Tahoe Park in the month of February 2012.  That is a decrease from the 11 homes sold in the area in the month of January 2012.  Here are the addresses and specific information.

 
 


 
Currently there are: 10 active listings, 7 active short sales, 17 contingent short sales, and 13 pending sales.
If you would like more information (pictures, listing history, what type of sales they were, etc.) feel free to call or email and I’d be happy to provide that for you.  Call or email me if you are looking … (0 comments)

first time home buyer: Land Park and Curtis Park Sales Data - February 2012 (Sacramento, Ca) - 03/07/12 06:39 PM
There were 18 homes sold in Land Park and Curtis Park in the month of February  2012 .  That is a slight decrease from the 13  homes sold in the month of   January 2012.  Here are the addresses and specific information.

 

 


Currently there are: 29 Active listings, 4 Active short sale listings, 10 Contingent short sale listings, and 23 Pending sales.

If you would like more information (pictures, listing history, what type of sales they were, etc.) feel free to call or email and I’d be happy to provide that for you.  Call or email me if you … (0 comments)