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Real Estate Recovery- Construction/Perm Finance Has Returned- Redding Anderson Cottonwood Homes For Sale

By
Real Estate Broker/Owner with Chain Real Estate Investments & Mortgage, Steve & Joel Chain

Construction/Perm Finance has returned to the mortgage marketplace. While the loan product can have different names the key component borrowers benefit from is a single escrow closing. This is generally accomplished by combining a 12 month term construction loan with progressive payments and converting to a permanent 30 year fixed or adjustable rate loan. The conversion takes place upon the completion of the home.

Consumer Confidence is often mentioned as a necessary ingredient for a real estate market recovery. However, the return of construction lending, to the marketplace, is a good sign of the lending community's confidence in stability of the present real estate market. While inventories maybe plentiful in some areas there are still Buyers who have been unable to find the exact home and location they are looking for. Engaging a design build construction company and obtaining construction/perm finance can be the perfect solution.

California Tuscan Portfolio Home

Search: www.reddingcahomesforsale.INFO


Sellers: Contact Chain Real Estate for a free market evaluation for your home because:

"Unique Properties Deserve Unique Marketingâ„ !"

www.CottonwoodCAHomesForSale.INFO

Buyers: To schedule a viewing of one of these unique homes contact Chain Real Estate



source:Shasta/Flex MLS

Information deemed reliable, but not guaranteed. This is not an offer to lend.

chain real estate investment & mortgage

qr chain real estate website

Posted by

Scott Marquette, REALTOR ®

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Keller Williams Realty - Carmel Valley

1.858.509.7500, Ext 2  Office
1.858.755.7986             Fax
1.760.613.7693             Cell
www.SanDiegoRealtor.com

Just to let you know, we are NEVER too busy for any of your referrals. If you know of someone who is thinking of buying or selling, feel free to give us a call with their name and number and our team will take great care of them for you!

California Department of Real Estate License #01816159

Comments (12)

Ed Gillespie
WealthWise Mortgage Planning, a Division of American Pacific Mortgage Corporation NMLS #1850 - Folsom, CA

This is great news!  Glad to you posted because I didn't know!  Hope this is a spark for your business!

Aug 20, 2011 01:16 PM
1~Judi Barrett
Integrity Real Estate Services 116 SE AVE N, Idabel, OK 74745 - Idabel, OK
BS Ed, Integrity Real Estate Services -IDABEL OK

Aug 20, 2011 02:52 PM
Sharon Alters
Coldwell Banker Vanguard Realty - 904-673-2308 - Fleming Island, FL
Realtor - Homes for Sale Fleming Island FL

Steve, this is indeed good news for the real estate market in the Redding Anderson Cottonwood Homes area. We also have a few banks that are doing construction perm financing, which is wonderful for custom builders.

Sharon

Aug 20, 2011 05:02 PM
Steve, Joel & Steve A. Chain
Chain Real Estate Investments & Mortgage, Steve & Joel Chain - Cottonwood, CA

Ed,

Thanks, it does add an element of simplicity to the transaction.

Steve

Aug 21, 2011 02:52 AM
Steve, Joel & Steve A. Chain
Chain Real Estate Investments & Mortgage, Steve & Joel Chain - Cottonwood, CA

Judi,

Indeed! it is a great weekend and the best is yet to come. Hope your's is the same.

Thanks for sharing the animated moment with the photo.

Steve

Aug 21, 2011 02:54 AM
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Steve and Joel, hopefully this will get more people looking at a custom build.

Aug 21, 2011 02:55 AM
Steve, Joel & Steve A. Chain
Chain Real Estate Investments & Mortgage, Steve & Joel Chain - Cottonwood, CA

Sharon,

It's great to hear there are more forward thinking lenders in your area as well.

Steve

Aug 21, 2011 02:55 AM
Paul McFadden
Responsive Pest Control - Seattle, WA
Pest Control, Seattle, WA.

That hasn't happened up here too much. You guys must be ahead of us. Thanks for the positive news!

Aug 21, 2011 02:58 AM
Kathy Clulow
Uxbridge, ON
Trusted For Experience - Respected For Results

without financing many builders with no operating cash are frozen out of the market

Aug 21, 2011 03:01 AM
Steve, Joel & Steve A. Chain
Chain Real Estate Investments & Mortgage, Steve & Joel Chain - Cottonwood, CA

Michael,

Our target demographic is the client who hasn't been able to find what they are looking for in a ready built home.  Designing and building the right home in the right location is a big advantage to design build.

Best,

Steve

Aug 21, 2011 03:01 AM
Steve, Joel & Steve A. Chain
Chain Real Estate Investments & Mortgage, Steve & Joel Chain - Cottonwood, CA

Paul,

We have a community bank that is bullish on the fix rate product. There is one national bank that is doing an ARM construction/perm. They will also do the more traditional construction loan with separate takeout, to take the client to a fix rate mortgage

Thanks for checking in,

Steve

Aug 21, 2011 03:09 AM
Steve, Joel & Steve A. Chain
Chain Real Estate Investments & Mortgage, Steve & Joel Chain - Cottonwood, CA

Kathy,

Your point is well taken. We are also seeing subdivision builders waiting until contract to build. Perhaps this reduces carrying costs allowing those savings to be passed onto the Buyer along with the added value of a brand new home.

Hope your having a great Sunday!

Steve

Aug 21, 2011 03:12 AM