Your Credit History

October 20, 2008 · Dean Rizzi · 1 Comment

Underwriters look carefully at your past payment record as shown on your credit report. Credit reports are ordered at the beginning of the loan process and again just prior to closing to insure that you have not incurred any additional debt that could affect your qualification for the loan. That is why it is so important that you avoid buying anything large until after your loan has closed escrow. Read more

Is it a good time to Move Up?

October 17, 2008 · Nicole Machado · 1 Comment

Everyone’s question these days seems to be “Is now the right time to buy”? I have come up with a chart that helps you make the decision if now is the right time to buy!

Current Home New Home

Sell	Spread (What it would cost you to move)	Buy
$100K	$100K	$200K
(Value appreciates 10%) $110K	$110K	$220K
(Value depreciates 10%) $ 90K	$ 90K	$180K

The above chart is an example of a “move-up” buyer determining whether it is a good time to purchase an upgrade property.

Now ask yourself this question… “When does it make more sense to move up- when prices have gone up less or when they’ve gone down more?”

If you have answered when prices go down, you are the lucky winner!!!! You profit the most when the spread is less. So whether you are discouraged that you don’t have enough equity or down payment in order to move, ask yourself this question….

“If you don’t feel you can move up comfortably now, how will you be able to do so when prices go up further?”

***One last thing to ponder… When interest rates go from 6% to 7.5% the prices of homes would have to go down 14.7% in order to keep the same monthly payment.

HOA Dues: Junk Fees or Good Budgeting?

October 17, 2008 · Lee Ginsburg · 2 Comments

Many people are under the belief that paying the HOA Dues is like throwing money out the window. I am not sure so let’s review the costs of Home Ownership that is covered under the HOA Dues.

The following costs are approximate present day costs for a 1200 square foot home and a 2 Bedroom Bay Area Condo Read more

Market Analysis – Taking stock of what’s right with the United States

October 15, 2008 · Francis G. Bautista · 2 Comments

“Taking stock of what’s right with the United States” is an article that Dean Rizzi forwarded to us all. It is a fascinating article in that it outlines and takes note of 10 positive and great things about our country. With the current wall street market in a tizzy and the election mud slinging dominating the air waves not to mention the economic and housing crisis, it is easy to lose sight and forget that we live in a great country. Because this is an election year….a brighter and more positive direction for our country would be nice as well. Read more

That House Costs HOW Much?

October 13, 2008 · Jean Joh · Comment here

During my mall shifts at Serramonte & Tanforan Shopping Centers, I often interact with people who are just stopping by out of curiosity as to how much home prices are. The ones who own homes in this area are usually a little concerned about the value of their own homes. The ones who are renting in the area are curious to know if the prices are “at bottom” yet and if they should finally start thinking about buying a home. But it’s interesting to note the response of those who are visiting from out of town or even from another country. Their response goes something like this, “That house costs HOW much?”

Election 2008

October 9, 2008 · Lee Ginsburg · 2 Comments

Election 2008

Election Day 2008 is just around the corner. Nationally this is a very important election. Locally it is also. Many Bay Area school districts have measures or the ballot for a Parcel Tax. A Parcel Tax is a flat fee for each real estate parcel in the district. Seniors could opt out not to pay. These Parcel taxes generally run $75.00 -$175.00 a year and are usually for a period of time of 5-10 years. Heck it is less than a tank of gas, less than a nice dinner for two, less than my wife spends at the beauty parlor, etc. The problem is these must be passed by 2/3 of the people. Approximately 45% of our property tax presently goes towards schools. As property values fall so does the school’s funding. Read more

Appraisers… what’s their real job description?

October 9, 2008 · Nicole Machado · 5 Comments

Since when did appraisers become home inspectors? Just curious as I encountered a never before sitaution today… As my property inspector was packing up from a routine property inspection, the appraiser drove up (early I may add) to what I thought at the time was to appraise the property. Read more

Debate #3, better,worse, more of the same?

October 8, 2008 · Brian Boisson · Comment here

Did you watch #3, I thought for the most part, just more of the same, McCain’s mention of the Fed buying up all the bad mortgages got my interest. Health care has been an issue for as long as I can remember, and other than a lot of the usual he said, no he said, and what I thought was a bit of rudeness on McCain’s part nothing changed my mind about either one of them. How about you, any new thoughts since #2