More Housing Help from the Government

March 3, 2009 · Kathy Wall · 4 Comments

In previous posts, fellow bloggers, Annie Chang and Michael Monozon, have talked about the many benefits of the new federal government stimulus package. Over the weekend, I learned about yet another program that will greatly help potential home buyers and will also help the many home builders who are sinking under the weight of their new homes not selling .

At our office meeting this morning, our in house lender, Guarantee Mortgage, filled us in on the details, as follows. It seems that the State of California has now instituted yet another tax credit. This one will apply only to people who purchase a brand new home, condo or townhome. Read more

Top 10 Reasons to Purchase Bay Area Real Estate in Today’s Market

March 2, 2009 · Lee Ginsburg · 5 Comments

Top 10 Reasons to Purchase Bay Area Real Estate in Today’s Market

1. Interest Rates are near 40 year lows. You can lock in your housing costs for the next 30 years if you buy not if you rent.

2. Property Values are at 5 year lows. Some areas have declined in value as much as 60%. Bay Area Real Estate has a long history of recovering and appreciating.

3. There is a large inventory of homes to choose from with Motivated Sellers. Individual owners and banks selling today must sell.

4. Getting a loan today is not difficult. It is easy. Just show you can make the payments.

5. Conforming Loan Limits have been increased to $729,750 allowing for low interest rates on these loans. Works well in San Bruno, South San Francisco, Daly City, San Mateo, Millbrae and other cities.

6. FHA has loan programs with a minimum of only 3.5% down. Veterans can take advantage of VA loans with no money down.

7. First time Home Owners will receive an $8000 Federal Tax Credit. (First time is considered not owning a home in the previous 3 years.) Income restrictions apply.

8. Any buyer regardless of income or ownership type will receive a $10,000 California State Tax Credit when purchasing a new home or condo. It is suggested to use a Real Estate Agent to assist you in negotiating even more with new home builders. First time New Home Buyers can combine both Federal and State credits for a total of $18,000.

9. Investors can obtain a positive cash flow in some areas with 25% -30% down.

10. You will be respected as a good and smart American doing your part to help our economy. You will receive a personalized Thank You note from Pres. Obama, Gov. Schwarzenegger, your Realtor and Lender. Oh! In 5 years you will take me for dinner thanking me for helping you make so much money. It is a Window of Opportunity. This is the Bay Area Real Estate’s “Perfect Storm”. It will not last forever!!! Don’t let it pass you by!!!

“It Is Better To Own Real Estate and Wait, Than Wait to Own Real Estate”

www.leesellsmore.com

There is no “I” in Real Estate Team!

March 2, 2009 · Julie Cleland · 3 Comments

You’ve decided to buy or sell a house so you gather all the players you’re going to need around you. You have your lender, your Realtor ®, escrow officers and any inspectors needed. You’ve gathered them around with the intention of meeting your goal of buying or selling that home. You’re all on the same page so how hard will it be to get along. That depends. Read more