1) Do not buy a new car 2) Max out your credit cards. Avoid using your credit card if possible. 3) Change jobs 4) Spend cash reserves needed for closing cost 5) Open new credit cards or get new inquiries on your credit card 6) Make large cash deposits 7) Co-sign for a loan for someone 8) Change bank accounts
Escrow typically takes about 30 - 60 days to close and your goal as a client is to keep everything business as usual. Don't do anything that will affect your purchasing … (0 comments)
buyers market: 2009 window of opportunity?
- 01/04/09 09:10 PM
After having a discussion with my lender associate, I gleened some of his insights in the financial market and found the information very insightful. I pass his insight and give my spin on the current housing and financial markets. As you factor in your plans in 2009, keep in mind the following information. Could we see 4% in the future for mortgage rates? YES, in fact they are there now. The Federal Reserve has announced plans to push mortgage rates lower in order to stimulate demand in the housing market - more on that later in this letter. If rates drop any lower, it may … (0 comments)
buyers market: December 2008 Market Snapshot, Santa Maria, CA
- 01/04/09 08:40 PM
Based on homes sold listed on the Central Coast MLS statistic, residential, SFR Sick Built, Santa Maria/Orcutt, sold between 12/1/08 to 12/31/08, supports many compelling reason to purchase in Santa Maria now, rather than later. Between December 1, 2008 to December 31, 2008 there were 143 homes sold, a low $109,000, high $820,000, median $250,000 and average $259,084. Fifty-six percent sold between 0-30 days, 18% sold between 31-60 days, 7% sold between 91-120 days, and 1.4% sold between 91-120 days and 17% sold 120+days. Note, 56% sold of the 143 sold in less than 30 days and 74% sold in less … (0 comments)
buyers market: Should I wait to purchase in the Central Coast?
- 03/28/08 07:48 PM
With all the news surrounding the current market it is easy to speculate about timing a home purchase. Assuming you are in a position to purchase a residence, understanding market trends is prudent. In every market, there is a cycle, and at any given time, the market is either going up or down on this cycle. In recent times, we have experienced a seller's market and prices appreciated in double digits placing an upward pressure on home price and sales. Right now, the market favors buyers and prices continue to push downward. This decline in price value is influence by a … (0 comments)
If you are in escrow and pending approved financing for a home purchase, please do not do the following:
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