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southern california: FHA to Tighten Home Loan Guidelines - 01/27/10 10:32 AM
If you haven't heard, FHA is tightening its guidelines for obtaining an FHA home loan.
The upfront mortage insurance is increasing from 1.75% to 2.25%. Not only that, the amount a seller can pay to contribute to the buyer's expenses is being REDUCED from 6% to 3%.
The moves are designed to shore up FHA's reserves and so be it. But if you are looking to buy with an FHA loan, do it NOW.
Read the FHA Press Release Here: http://portal.hud.gov/portal/page/portal/HUD/press/press_releases_media_advisories/2010/HUDNo.10-016
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southern california: 2008 or 1998? - 01/15/08 06:58 PM
I’m confused. Is it 2008? Or 1998?
Here’s why I am confused…you see, Orange County filed for bankruptcy in December, 1994 and emerged from the same in December 1996. The OC real estate market bottomed out about the third quarter of 1996, and was s-l-o-w-l-y creeping up by year’s end. During 1997, the creep upward continued…and if memory serves me, there ended up being about a .5% appreciation over the course of the year.
And then came 1998. And lo, things did change!
Once winter started to wane and Spring was knocking at the door, our market started to heat up … (2 comments)
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Richard Gayle, Broker
Tustin,
CA
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The Real Estate Marketplace
Address: 13681 Newport Blvd, Ste. 8235, Tustin, CA, 92780
Office Phone: (714) 832-8802
Cell Phone: (714) 724-9077
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