Many times when you think of a 203k as in the "days of old" you were often looking at an older run down house in a run down neighborhood. Not so any longer. When HUD raised the FHA maximum loan amounts this put a different face on the program. Now we can go into most neighborhoods in the country up to $729,750 in "high cost" counties.
Today I'm doing a draw in a lower cost community, then head to Kensington for a draw inspection, then to East Oakland near the Eastmont Mall, then to San Mateo for a full consultation. I'm hitting three different quality neighborhoods and two are upper end homes. The other two are bringing the neighborhoods up where they are located and providing better living conditions for their occupants. When you have rental property like the one in Oakland it is always a good thing when the owner lives in one of the units. They just seem to take better care of the units in that instance.
Tomorrow we'll be in Santa Cruz where we used to surf as kids. No longer a kid but it does bring back fond memories. A couple days ago I called the client to let him know I was ahead of schedule for his draw when he informed me that he was in Pacifica body surfing... he is about my age. Maybe there is still hope for more surfing before I go... lol
We'll talk again soon,
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