San Mateo County “Telephone Town Hall” w/Congresswoman Speier
Another great piece of information for the community passed on by my Broker John Gieseker:
Jackie Speier hosts:
“Telephone Town Hall”
to address credit/mortgage problems
San Mateo – Residents of the 12th Congressional District who have
questions about consumer credit and/or mortgages can participate in a
“telephone town hall” this Wednesday evening with Congresswoman Jackie
Speier and counselors from San Francisco’s non-profit Consumer Credit
Counseling Service.
“I encourage anyone with concerns about credit card debt, consumer
loans, mortgage modifications or refinance to participate in this call,” Read more
Positives of This Economy!!!
JEvery Negative Has a PositiveJ
Positives of This Economy
1. Bay Area Housing Affordability has gone from 16% to 38%
2. Debt of Americans is Decreasing.
3. A Large Increase in People Volunteering.
4. A Large increase in Military Enrollment.
5. First Time Home Buyers can get an $8000 Tax Credit.
6. Buyers of California New Homes can get a $10,000 State Tax Credit.
7. People are able to modify or refinance their loans to an affordable payment.
8. Businesses have the opportunity to clean up their books and start fresh.
9. Great Opportunity to Purchase a new car or any other major purchase.
10. Tax on Debt Forgiveness is waived.
And one of my favorites; you can Buy any Foot Long Sub for only $5.00
Please add to this list of Positives
www.leesellsmore.com
Loan Program for Teachers in California
Calling all Teachers… Incase you didn’t know, CalSTRS is the California State Teachers Retirement Program that provides retirement related benefits to teachers in public schools and community colleges in California. Back in 1984 CalSTRS developed a home loan program which was designed for an additional option for home financing for it members and retirees. Giving its members and retirees additional mortgage loan options at competitive rates. This is a great option for you first time home buyers as it only requires a 3% down payment. You can compare this program with an FHA loan as it requires a 3.5% down payment. A big thank you to Dean Rizzi of Guarantee Mortgage for sharing this program with us. Click on the flyer for additional info and qualifications (Once you have clicked on the picture click once again to see a clear copy or to print out the flyer)
My Happy First Time Home Buyers
I went to visit my clients who just bought their first home 2 weeks ago. They had bought new dining set, living room set, and a flat screen TV over the fireplace. They were very happy and their little toddler boy had the greatest time running around the house, climbing over the couch and the dining table. He hugged me so many times and blew kisses at me. I enjoyed watching them. We were so used to meeting several times every week especially since the loan was getting approved and funded, that it was hard to say goodbye.
FHA Loans for Distressed Properties?
I’m sure you’ve heard by now that FHA loans are making a huge comeback in the mortage arena. After all, it’s one of the only ways to obtain a loan with a low down payment (only 3.5% which can even be a gift) as well as a less-than-perfect FICO score (currently around 620). One of the main drawbacks, however, has been that the requirements for FHA loans have been a little more stringent regarding the condition of the property. This becomes an even bigger problem when you take into account that many of the more affordable homes now are REOs (bank-owned) or short sales, where the property has not been maintained very well. Well, I just wanted to share with you that THERE’S HOPE! It is possible to get an FHA loan for properties that are in need of some maintenance. How? Read more
When Did I Agree to That?!
Recently I was in one the Prudential California Realty – San Bruno kiosks at the mall when a seller approached to ask if he, as the seller, has to pay the country transfer tax on a sale he is currently involved in. I asked him a series of questions regarding the transaction and was, frankly, surprised at how little he seemed to know about his own deal.
One of the questions that seemed to confuse him the most was whether or not he had signed a purchase agreement. It wasn’t until I described what the agreement looks like that he realized he had, in fact, signed the agreement and was in contract. Read more
Signs of a Real Estate Rebound
I am not one of profound wisdom, but I am hearing some positive signs of real estate making a turn around, a turn around for the better! Basically, the thinking goes like this, “Hmmm, real estate values are down, not only do I still have my job but I have some cash sitting around, and rates are very low – and may not go lower. So maybe I will stop renting and buy a place (or pick up that non-owner occupied property, or that vacation home), or at least see what is out there.” The market will tell you that at some price, there is a buyer for everything.
San Francisco, the San Mateo Peninsula, East Bay and South Bay are experiencing a surge in homebuyers who are jumping off the fence to try and get their hands on property that they could have only wished they could afford a few years ago. Check out the link below to see what I’m talking about!
http://cbs5.com/business/real.estate.sales.2.956968.html
Here’s another example:
San Bruno 2 bedroom/ 1 bath
Listed at $344,900 just went pending with approximately 20 offers!!
Tax Assistance Day
I received this information from one of my brokers, John Gieseker and thought I would share it…
State Senator Leland Yee has provided a program for middle to low income families to receive tax assistance. There will be special attention to those over the age of 60. Chuck Finney, San Mateo District Attorney of Consumer Affairs will be on hand to answer questions about identity theft, senior scams and provide information and forms related to consumer complaints.
I have spoke with Senator Leland Yee’s office who has told me to let everyone know it is important to call and make an appointment to secure the assistance provided. Please contact Suzanne Dunwell at 650 340 8840 ext. 25 to schedule your appointment.
Tax Assistance Day will take place on Wednseday March 25th from 9:00am-3:00pm, please click on the picture below for full details and contact info to schedule your appointment. Please pay attention to the “what you need to bring with you” box on the invitation, so you are prepared for your appointment.
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Recent Posts
- Top 5 Reasons to Buy a House in the Bay Area in 2012
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- How to choose the “Best” real estate home loan.
- Is it a Good Time to Buy a House in San Mateo County? Part 1
- What’s the difference between inspections and the”final walk-through”?
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