brokers: What a Game! - 03/01/10 05:56 AM
Did anyone see that USA-Canada men's or women's hockey game? This is why I love the Olympic's to watch games that have so much excitment and wow to them. Let me know if you watched it and what you think.
… (1 comments)

brokers: FHA Short Sales and Short Payoffs - 02/12/10 07:04 AM
FHA Short Sales and Short Payoffs
Borrowers that were in default at the time of the short sale (or pre-foreclosure sale) of their previously owned primary residence are not eligible for a new FHA loan for three years from the date of the pre-foreclosure sale.   This means, that buyers wanting to purchase a similar or superior property within a reasonable commuting distance will not be able to obtain a new FHA loan.Borrowers are considered eligible for a new FHA loan if they were current on their mortgage and other installment debts at the time of the short sale of their previously owned property, and … (1 comments)

brokers: Recession Not Only Affects The U.S. - 02/12/10 06:58 AM
The biggest influence on mortgage rates this week came from outside the US . Concerns about the possible default of sovereign debt in smaller nations caused investors to seek the relative safety of US fixed income securities. This week's economic data was roughly balanced in terms of positive and negative surprises. The added demand for safer investments helped mortgage rates move lower during the week.
The recession has impacted countries in different ways. Some of the hardest hit have been smaller European nations, such as Greece and Spain . As members of the European Union, they must adhere to certain restrictions … (1 comments)

brokers: New Guidelines for FHA Loans - 02/02/10 07:04 AM
   FHA announced changes to its guidelines.  It will raise the minimum down payment required for borrowers with credit rating scores below 580 to 10%, while the down payment for higher-ranked borrowers would stay at 3.5%.  The upfront MI premium is also going from 1.75% to 2.25%.  HUD is seeking congressional approval to allow it to raise annual mortgage insurance premiums.  Lastly, FHA also said it was cutting the amount of seller contribution to buyers down to 3% of the purchase price from 6%; a move it said could help lessen incentives to inflate appraised home values.  Lastly, HUD has put together a list of … (0 comments)

brokers: New Listing for La Habra - 01/15/10 06:21 AM
We have a new listing in La Habra the address is 791 Durham. This home has been totally remodeled inside, look at the pictures and be amazed. Open house will be January 23 & 24 from 12:00 to 5:00pm both days.  See it online at www.791durham.com
… (0 comments)

brokers: Lots of Important Changes for 2010 - 01/04/10 03:41 AM
   Lots of important changes are coming as of January 1st.  The most important change has to do with the new government mandate to change to the new Good Faith Estimate which is going from 1 page to 3 pages which will completely confuse the buyers.  After January 1st, any loans closed using the new Good Faith Estimate will also require escrow companies to provide a new HUDI.  We are hearing many escrow and title companies are not geared up and ready for this which is going to cause lots of problems. 
 How Does This Affect Us As Agents?
    … (2 comments)

brokers: How Low Can Interest Rates Go Next Year? - 12/01/09 05:31 AM
When you see very low interest rates you will also hear whisperings of the dreaded inflation as they go hand in hand.  Low interest rates are designed to stimulate the housing market and thereby the economy as a whole.  Common sense tells us that as the "velocity" (new term many economists are using) of money increases and people borrow more money at low interest rates, demand for goods and services increases and prices go up which causes inflation.  The main function of the Federal Reserve is to manage the economy and keep inflation under control.  The Fed's main tool to combat … (1 comments)

brokers: Home Prices In Orange County, California are Climbing - 11/18/09 03:49 AM
   Great article on the front page of the Orange County Register today.  DataQuick reports that the median price of a home in Orange County now stands at $436,500 which is up almost 4% over a year ago and up a whopping 18% from January's price bottom.  It also says most of the sales are centered in the entry level market and that higher-priced home sales are sluggish.  I think we already know that piece of information.
How Does This Affect Us As Agents?
    With the extension of the home buying tax credit, continued low interest rates, and very … (2 comments)

brokers: I Just Love The Media - 11/11/09 05:22 AM
   It is always interesting to me how the media works.  I guess it is just easier to say that they print whatever sells the most papers.  The same real estate reporters that predicted doom and gloom from 2002 up until the actual crash are now publishing positive real estate articles.  Last week was an article about two separate studies that predict the Orange County home prices will in­crease (yes increase) by 9% to 16% in 2010.  Today there is an article in the business section of the Register reporting that the amount of households that owe more then they are … (3 comments)

brokers: Potential Good News For Homebuying ! - 10/29/09 08:03 AM
   News out of the government seems to indicate that they will be extending the temporary loan limits for conventional and FHA loans through 2010.  This is great news as right now there are very few investors buying loans over the conforming loan limit of $417,000.  As I mentioned the other day it also appears the extension of the home buying tax credit is closer to being a done deal.  No word yet on exactly how long the tax credit will last or if it will be opened up to all buyers and not just 1st timers. 
 How Does This Affect … (1 comments)

brokers: Setting Goals for 2010 It Can Be Done! - 10/22/09 05:51 AM
Here are some ideas I think will help you with setting goals for 2010:
1) Your goals must be your own. They cannot be dictated by your spouse, your broker or any other individual.2) Goals must be ambitious yet attainable. The key is to set goals that are realistic yet challenging. 3) Goals must be exciting. It is the excitement that fuels the engine. Simply ask yourself what it is you want, or want to do, that would really wind your clock.4) If goals are not measurable, they will not work. You must be able to measure progress as you move … (2 comments)