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declining market: Talking Points (vol.3) - 05/31/08 01:12 PM
Housing Market Conditions Favor Homebuyers
Home price affordability has improved dramatically...53.8% of all new and existing homes sold during the first 3 months of 2008 were affordable to families earning the median household income of $61,500. Three factors combined to substantially increase housing affordability: mortgage rates returning to near record low levels of a few years ago, a $2,500 rise in family income nationwide and lower house prices.
--Sandy Dunn, CNNMoney.com, May 21, 2008
There are many reasons for people to get into the housing market today, and very few reasons not to. With the plentiful supply of homes for … (1 comments)
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declining market: Decline-in-Value Reassessment - Proposition 8 - 05/01/08 03:05 PM
Proposition 8 - What is it?
In 1978, California votes passed Proposition 8, a constitutional amendment that allows a temporary reduction in assessed value when a property suffers a "decline-in-value." A decline-in-value occurs when the current market value of your property is less than the current assessed value as of January 1.
Eligibility Requirements:
You must demonstrate that on January 1, the market value of your property was less than its current assessed value. You must file a claim form for a decline-in-value reassessment application (prop.8) with the Assessor between January 1 and December 31 for the fiscal year beginning … (1 comments)
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declining market: FHA Today - 03/07/08 03:31 PM
As part of the government stimulus package the new FHA loan limits will increase from $362,000 to $729,000 for LA and Orange County. What this means to buyers, and those who may be sitting on the fence, is that 2008 is the time to buy. Interest rates remain low, and this stimulus package is TEMPORARY. It is designed to get the economy back on its feet and stable. Be part of the market correction now while prices are low and inventory is high. You may not have been able to qualify in the past, and you won’t be able to again … (0 comments)
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Melissa Kiser, a next generation Realtor
Huntington Beach,
CA
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Star Real Estate
Address: Huntington Beach, CA, 92648
Cell Phone: (310) 489-8379
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