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hud: As the Market Changes - More Rehab Homes for First Time Homebuyers - 01/17/10 03:22 PM
With the recent change in HUD policy allowing investors to purchase homes and flip them right away and not forcing them to hold title before they can be sold with FHA financing will definitely help the flipper but drive the first time home buyer away from the distressed homes for sale in the Hemet -San Jacinto CA valley.
The investors have the cash and the first time buyers have the credit. all of the good deals are bought quickly with cash buyers and the FHA buyers are cut out of the market - especially if there is a low appraisal on … (4 comments)
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hud: Real Estate Investor Breaks Down the New FHA 90 Day Rule - 01/16/10 01:09 PM
As a Hemet - San Jacinto, CA real estate expert I find myself gathering knowledge from many sources - both traditional and non-traditional. I think they call this the school of hard knocks.
Well, one of my activities is to keep up with real estate investors through their blogs and web sites. One that I enjoy is CaWholesaleDeals.com, hosted by Thomas Bartke. It is through an email linking me to his blog that I first learned about the doors that HUD and the FHA have just opened up for investors who want to flip properties. They can now do this without holding … (6 comments)
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hud: FHA Grants Real Estate Flippers The Green L>ight - 01/16/10 12:59 PM
On January 15, 2010 the FHA granted a waiver to real estate flippers allowing them to take possession of a property and resell it immediately and not have to season the ownership for 90 days before selling with an FHA Loan. The press release by HUD is titled:
HUD TAKES ACTION TO SPEED RESALE OF FORECLOSED PROPERTIES TO NEW OWNERSMeasure to help bring stability to home values and accelerate sale of vacant properties
There are several conditions that must be met that seem to be very positive for any investor looking to take advantage of the market and this new waiver … (5 comments)
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hud: Replay of NAMB FHA Webinar - Explaining RESPA/ GFE Reform - 01/02/10 02:39 PM
In my quest to invite ActiveRain bloggers who have written articles on the topic of RESPA, some really posts that I have reviewed really stand out.Here is an hour long video webinar hosted by NAMB (National Association of Mortgage Brokers) talking about this very topic.Now if you don't want to watch the whole hour, there is a table of contents with Video Minute Markets to help you find a place that is of interest.Do yourself a favor and bookmark this valuable resource.John
Via Mortgage U - Advisory Services and Training:
For those of you unable to attend or listen, attached … (1 comments)
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hud: Power to the People: RESPA Rules Change on January 1, 2010 - 01/01/10 02:57 PM
The Dawn of a New Decade brings the Dawn of Consumer Rights When Shopping for a MortgageJanuary First is typically a day when many new laws across the land become effective...and this year is no different. The Department of Housing & Urban Development made one very important change to the Real Estate Settlement Procedures Act of 1974 law that is known as RESPA in the industry is now mandating that ALL mortgage lenders provide the consumer with the same information in the same format.There is no doubt that this is too little too late for the homeowners who are currently at … (80 comments)
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hud: San Jacinto Market Analysis – SOLD 5/20/09 – 6/20/09 - LAND CONTRACT - 06/21/09 04:50 PM
In my recent post on this series, San Jacinto Market Analysis - SOLD 5/20/09 - 6/20/09 I shared insight to the overall San Jacinto real estate market by providing a brief synopsis of current market conditions by analyzing all of the 136 residential real estate homes that closed escrow between May 20th and June 20th, 2009. In this segment, I will look closely at a single San Jacinto home for sale that sold with a LAND CONTRACT.
Of the 136 properties SOLD in San Jacinto CA during the period of May 20, 2009 to June 20, 2009 there has to be … (0 comments)
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hud: FHA Down Payment Assistance Ready to Go Away - 08/02/08 10:17 PM
When President Bush signed HR 3221 into law on July 30th, 2008, he took what may be the most damaging step to actually hurt the housing market. I say this because he has completely done away with the FHA Down Payment Assistance program and raised the minimum percentage of funds that the borrower must contribute towards the purchase of the home.
Until September 30th, 2008, homebuyers will be able to take advantage of the current program-but if they are not in escrow by then-they can kiss the 3% seller contribution good bye, unless there is some sort of reprieve in the courts.
… (2 comments)
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hud: FHA Releases New Loan Limits for 2007 - 01/08/07 09:59 AM
FHA Releases New Loan Limits for 2007By John Occhi, Hemet REALTOR®Hemet CA, Real Estate
I saw a great article this morning that was published by Inman News about the FHA loan market. Jack Guttentag, the author explained why the program is so valuable in today's real estate market.
Jack compares the program and how it works today and compares it to 2000, when it dominated 15% of the real estate mortgage loans that consumers borrowed and how it fell to only about 5% of all real estate related homes in the year 2006.
An FHA Home Loan, which is administered by the US Department … (2 comments)
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John Occhi, ePRO, Temecula - Murrieta CA Real Estate, 951-443-6259
Murrieta,
CA
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Exit Twin Advantage Realty
Address: 39755 Murrieta Hot Springs Rd., Suite G-110, Murrieta, CA, 92563
Cell Phone: (951) 443-6259
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