First time home buyers in North San Diego County have a special opportunity they may not know about...Down Payment Assistance Programs. As a first time home buyer in California you know that the Federal First Time Home Buyer tax credit is gone (if you did not get your home under contract before April 30, 2010). You likely also know that California has a first time home buyer tax credit as well. If not, you can read more about the California 2010 First-Time Buyer Tax Credit that allows up to $10,000 … (10 comments)
mortgage: Carlsbad California Making Home Affordable Loan Modification Program
- 07/19/09 11:02 AM
The Making Home Affordable Loan Modification Program for Carlsbad California may be a solution for some folks who are at risk of losing their homes for a variety of reasons. This program was introduced by the Obama administration earlier this year and may provide a solution for many home owners. You can read more about Loan Modification in the Press Release from the Adminstration about the Making Home Affordable Program. Bill Gassett is a top REALTOR for Metrowest Massachusetts real estate, and shared this summary of the Making Home Affordable Loan Modification Program to benefit troubled home owners possibly avoid … (2 comments)
mortgage: Financing a Home in Carlsbad and in Nearby San Diego Coastal Communities - Is Cash King?
- 07/17/09 09:00 AM
With the more stringent requirements in place for obtaining a mortgage, and for a variety of economic reasons, the manner in which buyers are financing a home in Carlsbad and surrounding communities has shifted. As one example, there are more investors buying properties for cash since prices are more favorable. VA (no money down) and FHA (only 3.5% downpayment needed) have become increasingly popular ways to finance a home in Carlsbad, especially for first time buyers, and because many other loan products have disappeared. FHA can be a challenge in some condo complexes here because of the ownership percentages which exceed … (6 comments)
mortgage: Is the Government Bailout Affecting Your Real Estate Business? You Bet It Is
- 04/26/09 03:48 AM
Our Southern California Chapter of CRS (Council of Residential Specialists) educational and networking meeting was held last Friday in the desert community of La Quinta. Our speaker was Gov Hutchinson, an attorney, who is a member of the California Association of REALTORS (C.A.R.) Legal hotline; he is also Staff Vice President and Assistant General Counsel for C.A.R.
Hutchison shared his thoughts on how the government bailout is affecting our real estate business; he also provided some specific updates relative to California laws and changes in some of our real estate forms (I'll share these later). Here are some learnings from his talk: … (9 comments)
mortgage: New Mortgage Protection Program for First Time Home Buyers in California
- 04/01/09 02:16 AM
California is, once again, doing something to help the housing market. We already have a potential $10,000 tax credit that is available to buyers of new home construction in 2000 (first time buyers or experienced). The home must never have been lived in. Credits of up to $10,0000 will be awarded on a first come first served basis until the $100,000,000 that has been set aside has been used up. READ MORE: New Construction Tax Credit Now, the California Association of REALTORS (C.A.R.) is offering a mortgage protection program for first time buyers through their Housing Affordability Fund (H.A.F.) where buyers … (7 comments)
mortgage: Using Your IRA to Buy Investment Real Estate
- 09/25/08 03:37 AM
I have written a number of articles recently with a focus on the financial planning aspects of real estate investing, in collaboration with friend and financial planner, PAUL PAROTTI. READ: Financial Planning and Your Carlsbad Home Purchase A Financial Planning Guide to Down Payments Financial Planning and Your Second Home Investing in Real Estate - Learnings from a Master
One of the interesting things I learned at a CRS meeting last year was about using your self-directed IRA as a vehicle for real estate investment. I asked PAUL to share his thoughts on this means of acquiring investment … (6 comments)
mortgage: Not Everyone Wants a Mortgage
- 07/14/08 03:06 PM
There is always room for a new perspective, whether you are considering the value of home ownership, or obtaining a mortgage. When working with buyers from other countries, it is important to understand their possibly unique perspective on what owning a home means to them, and how they perceive having a mortgage debt. I was also reminded of differing perspectives on home ownerships and how it happens a week ago when working with a delegation of investors from China. I just started working with a charming couple, one of whom is not from the US (I am not sharing what … (16 comments)
mortgage: Tips on Becoming a Good Buyer (Part 3 of 3)
- 12/04/06 01:43 AM
Here is the last post in my series on how to become a good buyer, whether you are looking for a Carlsbad home or searching elsewhere. Now that your offer has been accepted, you are on to the mechanics of the transaction. This is what you have been waiting for, so do it well! Here are Part 1 and Part 2 in case you missed them. Conduct home inspection- This is the time to learn everything you can about the property and to determine if there are substantive mechanical, structural or other defects that might result in your changing your mind about proceeding … (2 comments)
mortgage: First Time Buyers - How do You Decide What to Buy?
- 10/03/06 09:43 AM
One of the big challenges faced by most buyers, new and experienced, is figuring out what they want in a home. Price will determine, or set the limits, on a number of things, but it is helpful to have a idea of what things are important, or necessary, when searching for a new home. NOTE: It is critical to have a discussion with a mortgage officer early on in the process so you will know what you can really afford, so that you can focus on your search effectively and not waste time looking at things that do not fit your budget, … (0 comments)
mortgage: Carlsbad Buyers - 0% Down and Downpayment/Closing Cost Assistance Loans
- 09/12/06 03:29 AM
For those of you in California....especailly those buyers looking in the Carlsbad area. Because of the slower market and so many buyers sitting on the fence, I thought it might be helpful to see if I could drum up more business with First Time Buyers (it's tough for many people, let alone first time buyers, to buy in our area of Southern California if you want a detached home since there is not much under $500K, but lots of condo options in some communities). Having worked with lots of FTHBs back East, I knew a big issue is the downpayment and/or closing costs, … (2 comments)
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Down Payment Assistance Programs in North San Diego County 
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