home purchase: Wonder Why You Don't Qualify for the Lowest Interest Rate? - 09/13/12 04:13 AM
Why You Don’t Qualify for the Lowest Interest Rate? – Risk Based Pricing
Everyone is looking for the elusive lowest interest rate in the market right now, right? What exactly does it take to get the “lowest rate” when purchasing or refinancing your home?
Low Mortgage Rates are Currently Available!
You literally couldn’t ask for better financing than today’s rate environment. Mortgage rates are at all-time lows thanks to aggressive action taken by the Federal Reserve. The Federal Reserve indirectly controls the general level of interest rates by raising or lowering short term rates.
Why Did My Neighbor Get a … (1 comments)

home purchase: What to Expect When Purchasing a Home in the Fall of 2012 in San Francisco Oakland Alameda - 08/24/12 08:11 AM
I have been saying it all summer long- the market has changed! The purchase market is picking up! In Alameda, Ca. it has indeed been one crazy summer of multiple offers, first time buyers, over bidding, and all cash offers.
The National Association of Realtors® released data showing national median home sales rose for the 5th consecutive month.  July 2012 home sales in increased 2.3% over June 2012 and 10.4% over July 2011!
Distressed homes constituted 24% of the sales. First-time buyers accounted for 34% of sales in July, up from 32% in June.  All-cash sales declined from 29% in June … (2 comments)

home purchase: Do You Really Want to Close Your Mortgage Home Loan on Time in California or ANYWHERE? - 04/12/12 03:52 AM
 
San Francisco Ca, As you have heard, basically…EVERYWHERE IN THE MEDIA, lenders require A LOT of documentation to close a loan when purchasing or refinancing a home in this day and age. Loans are definitely fully documented and without question YOUR BEST DEFENSE IS A GREAT OFFENSE!
That being said here is what you must have prepared with your lender and agent when prepared to write offers:
·         A Cover Letter – Tell your story and make sure your lender know your story.  Don’t forget to include any skeletons dangling in your closet, collections, alimony, child support or unpaid IRS … (0 comments)

home purchase: How Long Until You Can Buy Again After Short Sale, Foreclosure or Bankruptcy in Alameda, CA? - 02/13/12 07:44 AM

Direct Link:
http://www.youtube.com/watch?v=gTY1UVPRk8g
A lot of people ask this question and it’s a great question.
And the answer is- That depends. You see, guidelines are always changing and will continue to change over the next few years.
In fact they JUST changed! So here is how it stands today…
CONVENTIONAL
Bankruptcy – You may apply for a Conventional, Fannie Mae loan after your bankruptcy has been discharged for FOUR (4) years.
Foreclosure – Home was given back to the bank – no owner participation.
- 7 years from the date the foreclosure was completed and transferred back to the bank … (1 comments)

home purchase: Allowable VS Non-Allowable Closing Costs a Veteran May Pay When Purchasing or Refinancing Using VA Financing in The SF Bay Area - 02/10/12 10:46 AM
I receive a lot of questions regarding what fees a Veteran is allowed and not allowed to pay in a real estate transaction in Alameda. Here is a summary of allowable and unallowable costs from one of the lenders I frequently work with.
ALLOWABLE CLOSING COSTS
A Veteran may pay any of the following reasonable closing costs and fees:
1% origination fee for purchase and cash-out loans, the origination fee is calculated using the total loan amount, including the financed funding fee For IRRRLs, the origination fee is calculated using the payoff minus any cash payments by the veteran, if applicable … (0 comments)

home purchase: How to Purchase a Home with a VA Loan in Alameda, CA - 04/13/11 07:32 AM
Alameda, Ca., We have seen a lot of military residents in Alameda and a lot of VA financing. How long?  Well here is a brief history of  "NAS Alameda"...
Congress approved $10 Million to develop a Naval Air Station here in 1938. The station commissioned on November 1, 1940, with a minimum of facilities.  It was April 25th 1997 the base saw the closing of NAS Alameda and on September 30th 1996 the Naval Aviation Depot closed.  Naval Air Station (NAS) Alameda had 60 Military tenant commands for a combined military/civilian work force of 18,000 personnel. In 1997 the base closed, … (1 comments)

home purchase: How to Purchase a Home One Day After a Short Sale in Alameda, CA - 04/08/11 04:33 AM
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home purchase: Home prices in May 2009 are at levels last seen in mid-2003 - According to Case Shiller - 07/28/09 06:59 AM
Home prices across the nation improved for in May but remain about 17% lower than one year ago, according to the S&P Case-Shiller Home Price Index.

Home prices in May 2009 are at levels last seen in mid-2003, "indicating that the three years of appreciation that occurred from 2003-2006 were all given back in the following three years," said a Case-Shiller press release.
Since prices peaked in Q2 2006, the 10-City Composite has fallen  33.3%!!! Yikes!
Regionally, annual price declines remain biggest in the West and the South. Home prices in Phoenix have plummeted 34.2%, while prices are down 32.0% … (0 comments)

home purchase: Bay Area Existing Home Sales and Foreclosure Filings Rise....hmmmm - 07/27/09 04:53 AM
The shift has changed almost instantaneously here in the Bay Area from a cold and quiet climate to multiple offers, overbidding, and a LOT of buyers writing offers!  According to the SF Chronicle "Bay Area home prices rose month-over-month for the third straight time as sales reached their highest level in three years in June, fueling hopes that the limping real estate market is slowly beginning to heal."
The median price paid for an existing, single-family home across the nine-county region was $360,000 in June, down 29.4 percent from a year earlier but up nearly 7 percent from May, according to … (2 comments)