when the economy gets bad and people get desperate, some people have no scruples and will try to scam any way they can. If you are trying to get a mortgage, beware of online scams who are trying to just get your information so they can steal your identity and ruin your credit and your life. Also beware of brokers or lenders who tell you one rate and then give you another (higher rate). Be sure you do business with a "Realtor" or someone else you know and trust. Realtor's have specific ethics they have to abide by. Some … (0 comments)
fremont real estate: New Housing Bill
- 10/12/09 05:00 AM
Subscribe When I first heard about the new housing bill, that would force banks to modify loans to keep people in their homes, or face stiff fines. I was excited. A housing bill that would help keep people in their homes, and slow or stop the dreaded foreclosures. Woo Hoo! How wonderful for the many people faced with losing their homes. Then I viewed my Active Rain site and read a blog by JP Lowry of Preferred Financial Funding, titled What are We Doing America? in which he VERY ADAMANTLY stated why the bill was Disgusting, Ridiculous & Entitled. I have … (1 comments)
The Federal Housing Administration (FHA) has delayed the implementation of rules that could make life more difficult for condo buyers across the country. The delay should be especially helpful for those hoping to qualify for the first-time buyer tax credit that expires after Nov. 30. The new FHA rules, which were to take effect Oct. 1, 2009 will now be effective on Nov. 2. They are designed to improve the lending process, but they could cause some short-term delays in completing loans and closing purchases. The FHA was wise to delay the implementation of these changes. Now, buyers trying … (1 comments)
fremont real estate: Would You Fire a Client??
- 08/26/09 12:48 PM
In challenging markets...like the one we currently face...it's difficult to find new clients. Why would you even consider firing a client? Purely and simply, even the best client relationships can turn bad...and when they do, it's time to end them by firing the client. Most of us are too busy to allow deteriorating client relationships to drain time and energy from attracting new clients and serving existing clients. With that in mind, here are 5 reasons for firing a client. 1. Perfection Obsession These are the buyers who are obsessed with finding a perfect home, in a perfect location and at … (2 comments)
fremont real estate: Consumer-Friendly Changes to Mortgage Rules
- 08/15/09 04:58 AM
Subscribe Federal Reserve governors, unanimously proposed tough new consumer-friendly disclosure rules for mortgages and home equity loans last month, tackling one of the less-appreciated causes of the nation's deep financial crisis. After 18 months of study and consumer testing, the Fed's division of consumer affairs proposed, and governors accepted, a change to how finance charges and the annual percentage rate would be calculated. They also proposed restricting some bonus compensation from lenders to those who originate loans. The action by the Fed's Board of Governors, which requires a four-month comment period before becoming final, came as Congress is weighing an Obama … (0 comments)
fremont real estate: What Loan Modification???
- 08/13/09 03:00 PM
Subscribe Despite efforts by the federal government and banks to stop the home foreclosure disaster, frustrated borrowers are still battling red tape and delays in their attempts to negotiate lower payments, even as hundreds of thousands of them lose their homes every month. Banks say they're swamped with inquiries and are just now completing the first mortgage "loan modifications" under the Obama administration's Making Home Affordable plan, the program begun in April 2009 requiring borrowers to make three months of renegotiated payments before securing new loan terms. Though the reasons are many, the problem is simple: Banks aren't renegotiating enough loans … (3 comments)
fremont real estate: To Buy or not to Buy, That is the Question!
- 08/01/09 07:03 AM
Subscribe Following are the top 7 reasons why it's better to buy than rent in 2009 1. Buying doesn't always cost much more than renting. According to a recent study by the Associated Press, the gap between monthly mortgage payments on a median-priced home and the median rent has decreased from $777 to just $221 in the last three years. 2. Affordability is at an all-time high. In markets across the nation, including the inland areas of California, prices have declined by nearly 40%. 3. Buyers can take advantage of tax benefits of home ownership. Perhaps the biggest tax break is … (0 comments)
fremont real estate: New Home Construction on the Raise
- 07/21/09 09:23 AM
New Home Starts up for Second Straight Month Subscribe Positive News: U.S. Housing Starts up Second Straight Month in June (Market Watch)-New construction of U.S. houses expanded for the second straight month in June after hitting a record low in April, the Commerce Department estimated Friday. Starts rose 3.6% in June to a seasonally adjusted 582,000 annualized units stronger than the 531,000 pace expected by economists surveyed by Market Watch. This is the highest level of starts since last November. Starts of new single-family homes rose by 14.4% to 470,000 in June, while starts of large apartment units fell 29.4% to … (0 comments)
fremont real estate: Furnishing Your First Home
- 07/20/09 06:03 AM
Subscribe Home prices have moderated, interest rates are reasonable, supply is abundant-and then there's that $8,000 tax credit. Yes, it's a great time to buy your first house. If you do, you'll have to furnish it, and that can be a challenge, especially if you have put much of your disposable income into a down payment. But you're a grown-up now, and your first real home is no place for that grungy old futon or bookcases constructed with bricks and boards. It deserves better. So what's the best way to go about furnishing your new home? We've asked a variety … (0 comments)
fremont real estate: California New-Home Market Slowly Improving, CBIA Announces
- 07/17/09 06:43 AM
July 17 2009 Subscribe SACRAMENTO - The pace of home sales at California new-home communities in May was still below year-ago levels but continued to improve from preceding months, the California Building Industry Association reported today. The monthly CBIA/Hanley Wood Market Intelligence (HWMI) New Home Sales and Pricing Report showed that sales in new-home communities of 10 units or more were 26 percent below May 2008, but is improved from the 31 percent decline in the prior month and is the fourth consecutive month of that improvement trend. During May, 3,019 new homes and condominiums were sold in the subdivisions tracked … (0 comments)
fremont real estate: Have Home Buyers Missed the Boat
- 06/29/09 06:27 AM
After a recent spike seen in mortgage rates, some consumers are wondering whether they've missed their chance to refinance into an ultra-low rate. Fear not: While the conforming 30-year fixed-rate mortgage hit a daily average of 5.81% last Thursday 06/18/09, it averaged 5.53% on Tuesday 06/23/09, and it's possible that rates could continue to fall. Predicting interest rates is like predicting who is going to win the World Series in January,I feel the recent spike is somewhat of an aberration, I expect rates will continue to drift down. Why the recent run-up in rates? Over the past month or two, the … (0 comments)
fremont real estate: Are Tighter Appraisals Hurting Home Sales?
- 06/26/09 04:53 AM
Are Tighter Appraisals Hurting Home Sales? June 26 2009 No comments Subscribe Make sure your home is in top condition so you have a better chance to get a good appraisal......... Less than a week after putting his newly renovated house on the market, "Rick" accepted a full-price offer of $242,900 on the 1940 bungalow. But the appraisal on the 1,780-square-foot home came in at just $206,000. The buyer couldn't come up with enough cash to make up the difference and Rick wasn't willing to drop the price, so the deal fell through. On top of sluggish home sales, are appraisals … (0 comments)
fremont real estate: HOMEOWNERS INSURANCE BASICS
- 06/05/09 06:28 AM
If your buying a home, you'll probably be signing up for homeowner's insurance as well. In fact, many lenders will require that you purchase a homeowner's policy before your mortgage can be approved. Most homeowner's insurance policiesnincludenboth property and liability coverage. The property section covers damage to your possessions, home, garage or other structures on your property. It also covers offsite housing if you must move out of your house while repairs are being made. Personal property coverage will usually pay 50% of replacement value, although there may be a limit on such items as jewelry. Most lenders … (0 comments)
fremont real estate: Why buy Title Insurance
- 06/01/09 06:25 AM
Buying a home is one of the biggest investments you'll ever make. you want to protect yourself and your investment during the purchase transaction with title insurance. If you own the land that the house is on, you have a strong right to the property. But if others have rights to it through liens, unpaid taxes or minning rights, they are also part owners of the property. Even if you know nothing about these risks, as the homeowner you are still vunerable to such claims on your property. Title Insurance, which protects against claims on your real estate by others, requires … (0 comments)
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