What do you get when you cross an FHA Loan with a Short Sale?
In my case, a roller coaster ride of emotions ending with a happy client in his new home. Last week, the escrow was closed successfully on my client’s short sale purchase of a home with an FHA loan. When the process started, I knew that it might not be easy. Read more
First time home buyers…great news!
It’s a home buyers heaven right now…good rates, a lot of properties to choose from with prices unheard of for years. And now, another credit offer? Read the facts…click here or copy to your browser: http://www.federalhousingtaxcredit.com/ ….and you will end up buying your dream home.
I surely hope home buyers will take advantage of today’s market…because just like every good things in life, this homebuyer’s heaven will not be forever.
Are you ready to buy an REO or Short Sale?
The answer to that question is another question you have to ask yourself…How patient am I? In this difficult market many buyers look for or find themselves involved in a short sale or an REO with the idea that it’s a good deal. It can be but what you are not paying in price you will make up in time, energy, effort and potential frustration. Read more
The Housing Stimulus Package Continued
This is my third and probably final thought on the recent Housing Stimulus Package.
http://www.pruvoices.com/2008/08/housing-stimulus-package-i-dont-think-so/
http://www.pruvoices.com/2008/08/is-this-new-stimulous-package-going-to-help-the-bay-area/
The FHA foreclosure rescue is a great idea but I don’t think it is practical, at least not in the Bay Area Market that I am familiar with. The FHA will offer to qualified buyers a new fixed rate loan at 90% of today’s market price for the home they are living in and that they own and owe considerably more money. With this program the owner shares the future appreciation with the FHA. This adds to family stability and less homes on the market and gives the family to gain some equity. I think the original lender will lose more under this than with the foreclosure process but it might be easier, quicker, look better on their books and they also gain a new guaranteed loan. In my opinion too many ifs to make this work in large numbers but the thought is GREAT. Read more
10 Reasons you should NOT buy a house in 2008!
1. You don’t feel like taking advantage of GREAT opportunities while prices have stabilized.
2. You enjoy renting over owning your own home.
3. You believe in buying HIGH and selling LOW rather than what experts suggest which is buy low and sell high. Duh!
4. Your accountant told you that you have enough tax write offs.
5. You don’t believe you can build equity if you buy at the bottom of the market. Read more
Tips for a future Landlord
Wow…have you seen the prices of Real Estate lately? The home prices are at a low, as well as interest rates, making home buying much more affordable. It this the right time to go out and buy a home as an investment? Quite possibly. Let me break down some pros and cons of buying investment property. Read more
Do I really need a home inspection?
My client asked if he really needed a home inspection. “I’m going to buy this house, no matter what. Why should I pay for home inspection?”, he wondered. My suggestion was Read more
“Bouncing Along the Bottom”
Last month I attended the Inman Real Estate Conference at the Palace Hotel in San Francisco. It was so cool because I got to listen to different panels of experts talk about the state of the real estate market, new and improved real estate technology, and a lot about blogging and websites. Read more
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