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
10 Reasons to use a Mortgage Broker
1. Simply put, Mortgage Brokers will save you TIME and MONEY!
2. Brokers are driven to find you the best rate, your bank’s goal is to provide another service to you.
3. You can tell brokers everything, and they’ll present your information to the lender in the most favorable light; once you tell your bank something that’s not in your favor, it’s too late to take it back Read more
Housing Stimulus Package! I don’t think so!!!
Credit/Loan Does it Stimulate the Housing Market? I don’t think so!!!
AS promised in my last blog I have continued my thoughts on the most recent Housing Stimulus Package. I will continue in next week’s blog.
Part of the recent Housing Stimulus package is a much publicized First Time Home Buyer Credit! It is not a credit. It is 15 year Interest FREE loan. Gotta take anything For Free. This applies to any home purchased between April 8, 2008 and July 1, 2009. How and why they picked those dates; Read more
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