5 new rules for home buyers - 05/28/08 04:38 PM
I found a pretty good article for home buyers. It's basic info, however, it's simple and I thought a lot of new buyers could benefit from it. Enjoy!
There's no telling how long the housing crisis will drag on. Here's what you need to know before you start shopping in a … (7 comments)
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Home prices plunge 14.1% in first quarter - 05/27/08 12:40 PM
Standard & Poor's/Case-Shiller study shows record decline for housing prices in first three months of 2008.
U.S. home prices dropped at the sharpest rate in two decades during the first quarter, a closely watched index showed Tuesday. It's a somber indication that the housing slump continues to deepen.
Standard & Poor's/Case-Shiller … (0 comments)
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Home prices post record decline - 05/22/08 04:28 PM
A government study finds home prices fell 1.7% in the first quarter of 2008. California, Nevada see sharpest drop.
The prices of homes sold in the first quarter of 2008 posted a record decline, according to a new report from the Office of Federal Housing Enterprise Oversight.
Home prices fell 3.1% … (1 comments)
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Fed sees economy getting worse - 05/21/08 03:45 PM
Looks like the feds are starting to admit the problem we are facing. The market as is down 227 points or 1.77% for the day following the news. In my opinion, any inflation, unemployment, etc numbers have been more or less "sugar coated" to keep consumer confidence up. With gas being … (2 comments)
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Fannie Mae CEO: Home prices will keep falling - 05/21/08 01:43 PM
Interesting article that came out today about future projection of housing market. I think this is a sign market hitting bottom in the next 12-18 months. I don't really think price will be an issue anymore, it will be availability of financing. Enjoy reading!
Mortgage company CEO says the end is … (3 comments)
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FHA - Rural Property/ Excess Land - Sacramento - 05/20/08 04:12 PM
I came across a scenario today. It was a 20 acre parcel zoned AE-20 with mulitple structures on the property. The property is bank owned and has been vacant for about 1 year and it's a rehab. We're looking to do a rehab loan on this property to fix it up … (0 comments)
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Southern California home sales jump 22% - 05/19/08 06:51 PM
Looks like sales are picking up. I don't think this is an indication of a bottom but definitely an indication of a recovery.
Bargain hunters snap up 15,615 properties - foreclosure sales and big discounts included - in an area hard hit by housing slump.
Home sales surged 22% in April … (2 comments)
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Sacramento - Interest rate update - 05/19/08 01:11 PM
Quick rate update from Friday.
Long-term mortgage interest rates were down again Friday, and the benchmark 10-year Treasury bond yield gained to 3.85 percent.
The 30-year fixed-rate average fell to 5.76 percent, and the 15-year fixed rate sank to 5.36 percent. Meanwhile, the 1-year adjustable rate sank to 5.9 percent.
The … (1 comments)
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Fannie lowers down payments - 05/16/08 04:34 PM
Looks like Fannie is making "sense" of this market. With declining areas, they might be competitive with FHA now. We will see in the coming weeks how this translates.
The government-sponsored mortgage financier says it will require between 3% and 5% for all loans it guarantees.
The government-sponsored mortgage finance company said … (2 comments)
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Chrysler's Gas Price Gimmick - 05/15/08 04:57 PM
I saw that Chrysler is offering new customers who buy a Chrysler, Dodge or Jeep a fuel card that will lock their gas price at $2.99 a gallon for three years, in lieu of a standard rebate. For some models, there is a gas card AND a rebate - $3,000 back … (1 comments)
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FHA NEHEMIAH Forms - Home Purchase - Down Payment Assistance - 05/13/08 12:23 PM
I got a few requests in reference to the forms necessary to participate in Nehemiah Down Payment Assistance. Below you will find the links where you can download the individual forms or download the entire packet. As a side note, the real estate agent does NOT have to register or sign … (0 comments)
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FHA Down Payment Assistance - NEHEMIAH - 100% Financing? No Money Down? - How it works - 05/13/08 11:07 AM
This blog is dedicated to helping you understand how the Nehemiah down payment assistance works.
There is really no such thing as a true 100% financing with FHA. Even when you use Nehemiah and you don't put any of your own money down, you still have a loan for 97%. Here … (7 comments)
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FHA premiums to be based on risk - 05/12/08 12:14 PM
I came across a good article I wanted to share with everyone. Risk based pricing for FHA has been in the works for some time now, however, looks like they are finally starting to implement it.
The Bush administration proposes to implement "risk-based" pricing of premiums paid by borrowers with government-backed … (1 comments)
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Credit is STILL tightening- consumer debt on the rise - 05/09/08 03:18 PM
I came across some interesting infomration that hints at what's to come in the next 12 months. I think these #s speak for themselves.
A net 55.4% of lenders tightened standards on commercial and industrial (C&I) loans to large- and mid-sized customers in the second quarter of this year. That's a … (0 comments)
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SACRAMENTO - FHA FIXER UPPER FINANCING / REHAB LOAN - 05/07/08 12:23 PM
I wanted to share with you the importance of the rehab loan. Agents listen up because I think this product sells itself. And if you're having trouble getting your buyers into contract, this is a sure way to make nice paychecks in this market most think are not possible.
The main advantage … (0 comments)
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Resale of property within 90 of prior transfer - FHA Financing - Property Flipping - 05/06/08 06:34 PM
I had a few people ask me about having difficulties financing REO properties that have transferred within the last 90 days of ownership. I have taken excerpts from the handbook to help clarify. As always, feel free to contact me with any questions you might have!
Resales Occurring 90 Days or Less … (15 comments)
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Sacramento FHA loan limits - Yolo/Placer/El Dorado/Yuba - 05/01/08 03:44 PM
As many of you are aware FHA raised their loan limits. I am attaching the new limits for quick reference. As always, feel free to contact me directly with any questions you might have!
… (0 comments)
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