Dean Rizzi

The Whole Picture
June 16, 2009 · · 6 Comments

Yes, mortgages rates have risen substantially over the past three weeks, and we can’t be sure when, or even if, they will come down. Mortgage rates are important, to be sure, but they are only part of the equation. Income and relative home prices matter too. On that front, average hourly wages continue to show incremental increases, while home prices continue to stabilize, and even rise, in many parts of the country.

Distinctions matter as well. Much has been made of the fact that lower interest rates mean more money in the pockets of borrowers. More money in the pockets of borrowers, in turn, means more money to spend to stimulate the economy. But let’s not forget that it’s a two-way street: The lender on the other end receives less income; thus, he has less income to spend. In other words, refinances with no equity extraction are really a wash in terms of aggregate demand for goods and services. Read more

Lee Ginsburg

Getting a Loan is Not Impossible
December 3, 2008 · · 10 Comments

www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2008/11/30/RE8014CT0J.DTL .      

I had some good friends over for Thanksgiving.  Pretty early in the evening the question came up; “Lee how is the Real Estate Market?”  “People can’t get loans? Huh”, he stated. This occurs often.  Everyday it is mentioned the “Credit Crunch” we have to loosen up credit.  I hope everyone reads “You Can Qualify For a Mortgage, It’s Just Tougher” by Marni Leff Kottle of the S.F. Chronicle,  Read more

PruCalVoices

Opportunity Knocks
October 29, 2008 · · Comment here

 

What an exciting time this is.  Full of opportunity, yet challenging.  It is imperative to do your homework.  Line up all your ducks…  Remember it can take upwards of 45-60 days to get loan approval.   Timing is essential.  It would be wise to start the ball rolling and get pre-approved for your loan.  Avoid any hiccups standing in the way of your dream when you have found the perfect home. At years end conforming loan limits will decrease and it could end up costing you more money to borrow the same amount. Take advantage, opportunity is knocking, answer the door.

Lee Ginsburg

Is This New Stimulus Package Going To Help The Bay Area???
August 4, 2008 · · Comment here

YES! YES! YES!  It may not be as immediate as we would like but it will.  The two major provisions that I see as beneficial to specifically the Bay Area Are:

The increase in the conforming loan limit to $625,500 permanently and the ability of Freddie Mac and Fannie Mae to borrow if necessary from the U.S. Treasury.

The increase in conforming loan limits has no immediate effect since the emergency stimulus package temporarily increased the limit to $729,750.  That terminates Dec. 31 of this year so the new permanent increase is a major long term bonus.  Bay Area Realtors Read more