1st Time Home Buyers Win Again!

By
Real Estate Agent with BRE # 01442690, Scott Keys Properties BRE# 01442690

1st Time Home Buyers Win Again!

These were some of my favorite clients. We met each other almost every weekend for almost 8 months looking for that special home they could aford. They also needed help with closing costs, which was a difficult thing for sellers to accept as the market kept heating up in 2013. 

Our New HomeWe finally found a great home in South San Francisco, and everything clicked! List price $540,000. Sales Price $620,000. Plenty of comps to support that. Appraisal good!

Buyers got an FHA loan, 3.5% down. Moved in September. They've made some improvements since then - the home looks great. 

Fast forward to April 2014. You know how prices keep escalating in the San Francisco Bay Area. They met with my partner again and were able to refinance into a conventional loan, 10% down. They reduced their PMI by half, didn't have to come up any money and in fact got a check at closing from the impound account. 

Bottom line: they reduced their monthly payment by a whopping $450! Very happy home owners.

Posted by

 

John M Scott, Broker / Owner, Scott Keys Properties, Certified Distressed Property Expert (CDPE), Council of Real Estate Brokerage Managers (CRB), serving San Francisco and the surrounding San Francisco Bay Area

Comments (2)

Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • GRI • HAFA • PSC Calabasas CA

Last year was a good time to buy. Well done on trusting their agent( John) and buying their property at the right time.

Congratulations!

May 03, 2014 05:05 PM
John M. Scott
BRE # 01442690, Scott Keys Properties - San Francisco, CA
Broker / Owner San Francisco Bay Area

I bet a lot of people wish they had bought last year Inna!

May 04, 2014 04:38 AM