FHA loans soar in Sacramento area
FHA loans soar in Sacramento area
The number of government-backed FHA loans jumped sharply last year, propping up a local real estate market otherwise saturated by loan denials.
During 2008, lenders issued 8,998 FHA loans in the Sacramento region, up from 649 during 2007, according to statistics released this week by the Federal Financial Institutions Examination Council.
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Wednesday, 9 September 2009
California bill would extend tax credit on new homes
California bill would extend tax credit on new homes
A popular state tax credit of up to $10,000 that helped sell hundreds of new houses throughout the Sacramento region earlier this year appears to be coming back.
A plan to extend the state tax credit to another 4,285 buyers of new, unoccupied homes in California – possibly as many as 500 in the capital area – is expected ...
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Wednesday, 2 September 2009
Deeper Sacramento housing Crisis is forecast
A major credit reporting company predicts mortgage delinquency rates will continue rising in the Sacramento area – with 12 percent of homeowners falling at least two months behind on their payments by year’s end.
That’s nearly twice the national projection and a dramatic jump from just two years ago, when less than 2 percent percent of area homeowners’ notes were delinqu...
Posted by Brian Creel at 6:06 PM in Category:
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Saturday, 22 August 2009
Sacramento-area home sales remain sluggish
Sacramento-area home sales remain sluggish
By Jim Wasserman
jwasserman@sacbee.com
http://www.sacbee.com/business/story/2130021.html
Sales of existing homes in the Sacramento area climbed 2.6 percent from June to July – far short of the surprising 7.2 percent rise nationally that sent stocks soaring Friday.
A July report showed sales of 3,495 existing ...
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Tuesday, 18 August 2009
Housing Stability per Real Trends
Price stability emerged in most areas of Texas, California and the Northeast, according to a recent study by California-based John Burns Real Estate Consulting. Florida and Midwest was close behind. The Northwest, Southeast, Southwest and outlying areas in all submarkets continue to struggle.
According to the study, sales per community have not changed much for several months and starts...
Posted by Brian Creel at 1:18 PM in Category:
Market ConditionsLink directly to this article.
Monday, 17 August 2009
Troubled homeowners wrestle with loan holders
Troubled homeowners wrestle with loan holders
By Kevin G. Hall
http://www.sacbee.com/business/story/2111186.html?storylink=pd
WASHINGTON – Nearly three years into the deepest U.S. housing slump in generations, lenders are modifying only a small number of problem mortgages, and rising foreclosures are restraining the economy’s recovery.
The Obama administr...
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Monday, 10 August 2009
Bad June swoon for Sacramento-area homebuilders
August 10, 2009
Bad June swoon for Sacramento-area homebuilders
http://www.sacbee.com/static/weblogs/real_estate/
Ouch! Homebuilders in Sacramento, El Dorado, Placer and Yolo counties reported their second worst sales month of 2009 in June, selling just 197 homes, condominiums and townhouses, the California Building Industry Association reported about an hour ago.
Th...
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Wednesday, 5 August 2009
Free 8K Tax Credit Ends Soon
The Federal tax credit for first time buyers is set to expire on November 30, 2009. What this means is that if you have not closed excrow on a property by the deadline date of November 30th then you will not be eligible for this tax credit / gift from the government. To make sure you receive this credit you will want to find a home and get an accepted offer pretty soon, given the necessary days ...
Posted by Brian Creel at 11:38 AM in Category:
Buying PropertyLink directly to this article.
Wednesday, 29 July 2009
The Best Deal On Home Refinancing
Find The Best Deal On Home Refinancing
http://www.kcra.com/family/19402420/detail.html
(ARA) - Like so many Americans, you may have a balloon mortgage that is coming due or you’ve had an unexpected financial hit such as a large hospital bill or a job loss that has made your current mortgage payments unreasonable. If so, refinancing your mortgage can be a great way to s...
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Monday, 20 July 2009
California foreclosure deals are bittersweet for novice investors
California foreclosure deals are bittersweet for novice investors
Buzz up!By Nicole Williams
nwilliams@sacbee.com
http://www.sacbee.com/ourregion/story/2038862.html
Many Californians saw their dreams go up in smoke when the housing market burned up as a result of heavy job losses, bankruptcies and balloon mortgage payments, but others are rising from the ashes...
Posted by Brian Creel at 6:23 PM in Category:
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Friday, 17 July 2009
Sacramento-area home sales fall for 1st time since April 2008
Sacramento-area home sales fall for 1st time since April 2008
By Jim Wasserman
jwasserman@sacbee.com
http://www.sacbee.com/business/story/2033127.html
The 14-month streak is over.
Sacramento-area home sales reached their highest monthly count yet this year in June. But with fewer bank repos on the market, they failed to beat the numbers from June 2008, acc...
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Monday, 13 July 2009
Mortgage defaults spread as even 'safe' borrowers falter
Mortgage defaults spread as even ’safe’ borrowers falter
By Jim Wasserman and Dale Kasler
jwasserman@sacbee.com
http://www.sacbee.com/business/story/2017811.html
The mortgage default crisis has an ominous new face. It’s your neighbor with a traditional fixed-rate loan.
No longer is the real estate bust simply the result of exotic, subprim...
Posted by Brian Creel at 6:18 PM in Category:
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Sunday, 5 July 2009
Small banks start feeling financial stress
Small banks start feeling financial stress
By Charles Piller
cpiller@sacbee.com
http://www.sacbee.com/topstories/story/2000836.html
At first, the Sacramento region’s small, business-oriented community banks appeared to have sidestepped the plight of banking titans that staggered under the burden of home mortgage defaults. Now some are showing signs of st...
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Wednesday, 24 June 2009
"We're in a slow, but definite recovery mode"
"We’re in a slow, but definite recovery mode"
http://www.sacbee.com/static/weblogs/real_estate/archives/2009/06/were-in-a-slow.html?mi_atom=Home%20Front
So says Alexis McGee, president of Fair Oaks-based Foreclosures.com, which tracks the nation’s foreclosure markets for real estate investors. Here’s McGee’s new national roundup:
...
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Monday, 22 June 2009
7 lenders get immunity from state foreclosure prevention act
7 lenders get immunity from state foreclosure prevention act
By Jim Wasserman
jwasserman@sacbee.com
http://www.sacbee.com/business/story/1962447.html
Bank of America Home Loans, CitiMortgage and Carrington Mortgage Services are among the first seven lenders and loan servicers granted immunity from the state’s foreclosure prevention act launched this week...
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Friday, 12 June 2009
Home Front: Lenders' phones silent as rates rise
Home Front: Lenders’ phones silent as rates rise
By Jim Wasserman
jwasserman@sacbee.com
http://www.sacbee.com/business/story/1940229.html
Mortgage rates, rising quickly from near-historic lows earlier this year, are already having negative consequences in the capital region.
"All of a sudden the phones just stopped ringing," said Michael McGee, ...
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Wednesday, 10 June 2009
Use of short sales on rise in Sacramento housing market
Use of short sales on rise in Sacramento housing market
By Jim Wasserman
jwasserman@sacbee.com
http://www.sacbee.com/business/story/1933643.html
For years real estate agents have steered buyers away from "short sales," labeling them a mind-numbing, difficult experience that could exhaust the patience of the biblical Job.
Now buyers can hardly avoid th...
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Friday, 5 June 2009
Rate-rise threatens economic relapse
Rate-rise threatens economic relapse
http://www.inman.com/buyers-sellers/columnists/loubarnes/rate-rise-threatens-economic-relapse
The economic optimists are still in charge of markets, rates and stocks still rising. However, the divergence is widening between them and those worried about credit and latent weakness. It may take a month or two to figure whose stubbornnes...
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Wednesday, 3 June 2009
Waiting game on low mortgage rates backfires
Waiting game on low mortgage rates backfires
By Mark Glover
mglover@sacbee.com
http://www.sacbee.com/business/story/1903523.html
Sacramento-area homeowners and prospective first-time homebuyers might be wondering: Did we miss the boat on mortgage rates?
The short answer from experts is: Probably, but rates are still very attractive.
For ...
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Monday, 1 June 2009
European media want close-ups of capital-area housing crash
Home Front: European media want close-ups of capital-area housing crash
By Jim Wasserman
jwasserman@sacbee.com
http://www.sacbee.com/736/story/1883525.html
Europeans are making Sacramento a regular stop on media expeditions to the housing crisis that has been pounding their banks.
This year, Home Front has received inquiries from a Swiss newspaper, a ...
Posted by Brian Creel at 5:33 PM in Category:
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Wednesday, 27 May 2009
Fannie Mae and Freddie Mac's new rules are raising appraisal costs, critics say
Fannie Mae and Freddie Mac’s new rules are raising appraisal costs, critics say
http://www.latimes.com/classified/realestate/news/la-fi-harney17-2009may17,0,5903005.story
The rules, intended to improve the accuracy of home valuations, push most large lenders to use third-party appraisal management companies.
Reporting from Washington -- How about this scenario...
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Friday, 15 May 2009
Co-signing FHA loan has strings attached
Co-signing FHA loan has strings attached
REThink Real Estate
By Tara-Nicholle Nelson, Friday, May 15, 2009.
Inman News
http://www.inman.com/buyers-sellers/columnists/tara-nicholle-nelson/co-signing-fha-loan-has-strings-attached
Flickr photo by ethorson.Q: We have income that we are unable to document on our FHA loan application. We need to qualify for ...
Posted by Brian Creel at 4:57 PM in Category:
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Thursday, 14 May 2009
Hear the Bell Ringing?
Now is the time to buy real estate in Humboldt County. Tonight there was a very informative Home Buyers Seminar. The format was quick and to the point discussing the federal first time home buyer tax credit, the state home buyer tax credit, financing choices, market signs, current market data, several other related issues. John Fullerton, CPA spoke about benefits to purchasing now and take adva...
Posted by Brian Creel at 8:29 PM in Category:
Buying PropertyLink directly to this article.
Monday, 11 May 2009
First Time Home Buyers Can Score Big
Thursday May 14th at 6:30pm Ming Tree is hosting a quick First Time Home Buyer Seminar. In 45 minutes of time the program will cover the Federal First Time Home Buyer Credit, Financing Strategies, Home Ownership Benefits, and time for Questions. No pressure just information to help home buyers. The seminar will be held at the Eureka Women’s Club on J Street. If you have any questions, ple...
Posted by Brian Creel at 10:01 PM in Category:
Buying PropertyLink directly to this article.
First Time Home Buyers Can Score Big
Thursday May 14th at 6:30pm Ming Tree is hosting a quick First Time Home Buyer Seminar. In 45 minutes of time the program will cover the Federal First Time Home Buyer Credit, Financing Strategies, Home Ownership Benefits, and time for Questions. No pressure just information to help home buyers. The seminar will be held at the Eureka Women’s Club on J Street. If you have any questions, ple...
Posted by Brian Creel at 1:45 PM in Category:
Buying PropertyLink directly to this article.
Monday, 4 May 2009
Fed says more banks tighten home loan standards
Fed says more banks tighten home loan standards
By JEANNINE AVERSA
AP Economics Writer
http://www.sacbee.com/830/story/1832585.html
WASHINGTON -- A larger share of banks has made it more difficult for people to obtain home mortgages over the last three months even as demand has grown, the Federal Reserve reported Monday.
The Fed’s new quarterly surve...
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Friday, 1 May 2009
Are short sales ruining home values?
http://www.inman.com/buyers-sellers/columnists/tara-nicholle-nelson/are-short-sales-ruining-home-values
Q: My neighbors bought a home for their mother, who has since passed away. They owed $125,000 on the mortgage. The bank allowed them to do a short sale for $56,000. The three daughters who bought the home for their mother have considerable assets. How can they be forgiven for ...
Posted by Brian Creel at 5:51 PM in Category:
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Wednesday, 29 April 2009
Questions and Answers Surrounding Short Sales
Questions and Answers Surrounding Short Sales
As homeowners grapple with declining home values, and in some instances, mortgage payments that have dramatically increased, GreatWest GMAC Real Estate professionals are increasingly be queried about Short Sales.
Often a seller will become concerned because they are unable to make house payments, but do still have an ability to make ...
Posted by Brian Creel at 4:51 PM in Category:
NewsLink directly to this article.
Questions and Answers Surrounding Short Sales
Questions and Answers Surrounding Short Sales
As homeowners grapple with declining home values, and in some instances, mortgage payments that have dramatically increased, GreatWest GMAC Real Estate professionals are increasingly be queried about Short Sales.
Often a seller will become concerned because they are unable to make house payments, but do still have an ability to make ...
Posted by Brian Creel at 8:44 AM in Category:
Market ConditionsLink directly to this article.
Thursday, 23 April 2009
FORECLOSURE, BANKRUPTCY, DEED IN LIEU, SHORT SALE HOW LONG BEFORE I CAN PURCHASE A HOME AGAIN???
ACCORDING TO FANNIE MAE GUIDELINES THERE HAVE BEEN ADJUSTMENTS TO QUALIFY FOR PURCHASING AFTER BANKRUPTCY,DEED IN LIEU OF FORECLOSURE, PRE FORECLOSURE SALES AS FOLLOWS:
New Requirements
Action:Bankruptcy (All Except Chapter 13)
4-year time period from discharge date
The 4-year time period remains the same but will now be applied from either the discharge or dismissal date...
Posted by Brian Creel at 10:06 AM in Category:
Mortgage & FinanceLink directly to this article.
FORECLOSURE, BANKRUPTCY, DEED IN LIEU, SHORT SALE HOW LONG BEFORE I CAN PURCHASE A HOME AGAIN???
ACCORDING TO FANNIE MAE GUIDELINES THERE HAVE BEEN ADJUSTMENTS TO QUALIFY FOR PURCHASING AFTER BANKRUPTCY,DEED IN LIEU OF FORECLOSURE, PRE FORECLOSURE SALES AS FOLLOWS:
New Requirements
Action:Bankruptcy (All Except Chapter 13)
4-year time period from discharge date
The 4-year time period remains the same but will now be applied from either the discharge or dismissal date...
Posted by Brian Creel at 10:06 AM in Category:
Mortgage & FinanceLink directly to this article.
FORECLOSURE, BANKRUPTCY, DEED IN LIEU, SHORT SALE HOW LONG BEFORE I CAN PURCHASE A HOME AGAIN???
ACCORDING TO FANNIE MAE GUIDELINES THERE HAVE BEEN ADJUSTMENTS TO QUALIFY FOR PURCHASING AFTER BANKRUPTCY,DEED IN LIEU OF FORECLOSURE, PRE FORECLOSURE SALES AS FOLLOWS:
New Requirements
Action:Bankruptcy (All Except Chapter 13)
4-year time period from discharge date
The 4-year time period remains the same but will now be applied from either the discharge or dismissal date...
Posted by Brian Creel at 9:57 AM in Category:
Mortgage & FinanceLink directly to this article.
FORECLOSURE, BANKRUPTCY, DEED IN LIEU, SHORT SALE HOW LONG BEFORE I CAN PURCHASE A HOME AGAIN???
ACCORDING TO FANNIE MAE GUIDELINES THERE HAVE BEEN ADJUSTMENTS TO QUALIFY FOR PURCHASING AFTER BANKRUPTCY,DEED IN LIEU OF FORECLOSURE, PRE FORECLOSURE SALES AS FOLLOWS:
New Requirements
Action:Bankruptcy (All Except Chapter 13)
4-year time period from discharge date
The 4-year time period remains the same but will now be applied from either the discharge or dismissal date...
Posted by Brian Creel at 9:48 AM in Category:
Selling PropertyLink directly to this article.
Wednesday, 22 April 2009
Could New Stimulus Plan Actually Cost You Money?
Article from RISMedia.com:
Could New Stimulus Plan Actually Cost You Money?
Posted By Paige On April 20, 2009 @ 3:57 pm In Today’s Marketplace, Today’s Top Story - Consumer | Comments Disabled
[1]RISMEDIA, April 21, 2009-(MCT)-Wage earners beware: One of the federal government’s new tax breaks, designed to put more take-home pay in your wallet now, may take a bit...
Posted by Brian Creel at 11:39 AM in Category:
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Could New Stimulus Plan Actually Cost You Money?
Article from RISMedia.com:
Could New Stimulus Plan Actually Cost You Money?
Posted By Paige On April 20, 2009 @ 3:57 pm In Today’s Marketplace, Today’s Top Story - Consumer | Comments Disabled
[1]RISMEDIA, April 21, 2009-(MCT)-Wage earners beware: One of the federal government’s new tax breaks, designed to put more take-home pay in your wallet now, may take a bit...
Posted by Brian Creel at 10:24 AM in Category:
Market ConditionsLink directly to this article.
Monday, 20 April 2009
Homebuyer Guides
Homebuying Guides
Even before you begin looking for a home, the homebuying process requires diligent preparation. Buyers who have been preapproved for a home loan often have their offers taken more seriously by sellers. With advance preparation, you can tackle the process of acquiring the financing you need with more confidence. To help you on the path to homeownership, Neighborworks® off...
Posted by Brian Creel at 3:19 PM in Category:
Buying PropertyLink directly to this article.
Homebuyer Guides
Homebuying Guides
Even before you begin looking for a home, the homebuying process requires diligent preparation. Buyers who have been preapproved for a home loan often have their offers taken more seriously by sellers. With advance preparation, you can tackle the process of acquiring the financing you need with more confidence. To help you on the path to homeownership, Neighborworks® off...
Posted by Brian Creel at 3:03 PM in Category:
Buying PropertyLink directly to this article.
Sunday, 19 April 2009
Questions and Answers Surrounding Short Sales
As homeowners grapple with declining home values, and in some instances, mortgage payments that have dramatically increased, GreatWest GMAC Real Estate professionals are increasingly be queried about Short Sales.
Often a seller will become concerned because they are unable to make house payments, but do still have an ability to make all or part payment of the negative equity. They may hop...
Posted by Brian Creel at 5:31 PM in Category:
Selling PropertyLink directly to this article.
Saturday, 18 April 2009
Sacramento region's repossessed home sales boom hits lull
Sacramento region’s repossessed home sales boom hits lull
ShareThisBy Jim Wasserman
jwasserman@sacbee.com
http://www.sacbee.com/business/story/1789794.html
Published: Saturday, Apr. 18, 2009 - 12:00 am | Page 1B
Months of foreclosure moratoriums, stepped-up loan modifications and bank decisions to keep repossessed homes off the market are biting hard into a s...
Posted by Brian Creel at 9:50 PM in Category:
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Sacramento region's repossessed home sales boom hits lull
Sacramento region’s repossessed home sales boom hits lull
ShareThisBy Jim Wasserman
jwasserman@sacbee.com
http://www.sacbee.com/business/story/1789794.html
Published: Saturday, Apr. 18, 2009 - 12:00 am | Page 1B
Months of foreclosure moratoriums, stepped-up loan modifications and bank decisions to keep repossessed homes off the market are biting hard into a s...
Posted by Brian Creel at 9:47 PM in Category:
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Wednesday, 15 April 2009
February sales of new California homes weak
February sales of new California homes weak
State tax credit for new homes in demand
By Inman News, Wednesday, April 15, 2009.
http://www.inman.com/news/2009/04/15/february-sales-new-california-homes-weak
Inman news
February sales of new homes in California were down 54 percent from a year ago, but showed modest improvement from January, the California Building ...
Posted by Brian Creel at 5:47 PM in Category:
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Friday, 10 April 2009
Fewer empty new homes means supply, demand in balance
Home Front: Fewer empty new homes means supply, demand in balance
ShareThisBy Jim Wasserman
jwasserman@sacbee.com
Published: Friday, Apr. 10, 2009 - 12:00 am | Page 1B
The first quarterly report on new-home sales in the Sacramento area during 2009 is in – and there’s one good sign amid a new low of 699 sales in January, February and March.
Excess supply ...
Posted by Brian Creel at 4:38 PM in Category:
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Monday, 6 April 2009
Don't Put All Your Investment Dollars in the Same Basket
With Easter swiftly approaching, perhaps it is a good time to remind that it isn’t always a good idea to put all one’s eggs in the same basket - Whether it’s real eggs; or investment and financial eggs.
The expression "Don’t put all your eggs in one basket" generally means not risking the loss of everything by placing all your financial investments or future goals ...
Posted by Brian Creel at 11:54 AM in Category:
Free Information & ToolsLink directly to this article.
Don't Put All Your Investment Dollars in the Same Basket
With Easter swiftly approaching, perhaps it is a good time to remind that it isn’t always a good idea to put all one’s eggs in the same basket - Whether it’s real eggs; or investment and financial eggs.
The expression "Don’t put all your eggs in one basket" generally means not risking the loss of everything by placing all your financial investments or future goals ...
Posted by Brian Creel at 8:06 AM in Category:
Buying PropertyLink directly to this article.
Saturday, 4 April 2009
Is FHA the Key to the Housing Rebound?
ACCORDING TO RISMEDIA:
RISMEDIA, April 4, 2009-The Federal Housing Administration (FHA) is a primary source of mortgage financing for millions of America’s families and plays a key role in helping bring stability to the housing market. This is the message that the National Association of Realtors® (NAR) recently delivered to the Senate Appropriations Subcommittee. “Without FHA financing, famil...
Posted by Brian Creel at 10:00 AM in Category:
Buying PropertyLink directly to this article.
Is FHA the Key to the Housing Rebound?
ACCORDING TO RISMEDIA:
RISMEDIA, April 4, 2009-The Federal Housing Administration (FHA) is a primary source of mortgage financing for millions of America’s families and plays a key role in helping bring stability to the housing market. This is the message that the National Association of Realtors® (NAR) recently delivered to the Senate Appropriations Subcommittee. “Without FHA financing, famil...
Posted by Brian Creel at 10:00 AM in Category:
Buying PropertyLink directly to this article.
Thursday, 2 April 2009
Rentng verses Owning
Given recent changes in home prices and the current low mortgage rate climate, there have been significant gains in affordability for prospective first-time homeowners. Earlier in 2009, a provision in the Stimulus Bill provided for a first-time Homebuyer Tax Credit of 10 percent of the purchase price of the home up to $8,000. The CALIFORNIA ASSOCIATION OF REALTORS® analyzed the difference between ...
Posted by Brian Creel at 10:50 AM in Category:
Buying PropertyLink directly to this article.
Rentng verses Owning
Given recent changes in home prices and the current low mortgage rate climate, there have been significant gains in affordability for prospective first-time homeowners. Earlier in 2009, a provision in the Stimulus Bill provided for a first-time Homebuyer Tax Credit of 10 percent of the purchase price of the home up to $8,000. The CALIFORNIA ASSOCIATION OF REALTORS® analyzed the difference between ...
Posted by Brian Creel at 9:16 AM in Category:
Market ConditionsLink directly to this article.
Monday, 30 March 2009
Buyer Tax Credits
Recently I have heard information passed along to real estate buyers regarding the tax credit offers from the federal government and the state. There are two different tax credits being offered.
One tax credit is specifically for First Time Buyers, this is a tax credit for up to $8,000. depending upon qualification details.
The second tax credit is for any buyer that purchases a...
Posted by Brian Creel at 10:22 PM in Category:
Buying PropertyLink directly to this article.
Buyer Tax Credits
Recently I have heard information passed along to real estate buyers regarding the tax credit offers from the federal government and the state. There are two different tax credits being offered.
One tax credit is specifically for First Time Buyers, this is a tax credit for up to $8,000. depending upon qualification details.
The second tax credit is for any buyer that purchases a...
Posted by Brian Creel at 10:21 PM in Category:
Buying PropertyLink directly to this article.
Tuesday, 24 March 2009
Common Closing Costs for Buyers
Common Closing Costs for Buyers
The lender must disclose a good faith estimate of all settlement costs. A check to cover your closing costs will probably have to be a cashier’s check. The title company or other entity conducting the closing will tell you the required amount for:
• Down payment
• Loan origination fees
• Points, or loan discount fees you pay to receive ...
Posted by Brian Creel at 2:34 PM in Category:
Buying PropertyLink directly to this article.
Common Closing Costs for Buyers
Common Closing Costs for Buyers
The lender must disclose a good faith estimate of all settlement costs. A check to cover your closing costs will probably have to be a cashier’s check. The title company or other entity conducting the closing will tell you the required amount for:
• Down payment
• Loan origination fees
• Points, or loan discount fees you pay to receive ...
Posted by Brian Creel at 2:24 PM in Category:
Mortgage & FinanceLink directly to this article.
Common Closing Costs for Buyers
Common Closing Costs for Buyers
The lender must disclose a good faith estimate of all settlement costs. A check to cover your closing costs will probably have to be a cashier’s check. The title company or other entity conducting the closing will tell you the required amount for:
• Down payment
• Loan origination fees
• Points, or loan discount fees you pay to receive ...
Posted by Brian Creel at 2:10 PM in Category:
Market ConditionsLink directly to this article.
Monday, 23 March 2009
DIVORCING HOMEOWNERS – BUT FORCED TO LIVE TOGETHER
Increasingly, Real Estate Professionals are hearing of a trend - which could remind folks of the movie, "War of the Roses."
Current real estate market conditions have some divorcing couples looking to separate their lives, but realizing they can’t afford to live apart until their home is sold.
Unlike a few years ago, when many homeowners had loads of equity to share, and r...
Posted by Brian Creel at 8:18 AM in Category:
Selling PropertyLink directly to this article.
Friday, 13 March 2009
Don't Lose Your Home Because You Didn't Pick Up THe Phone!!
You or someone you know can benefit from the Mortgage Stimulus/Refinance Program and avoid foreclosure! Whether you want to modify your existing loan or work through the short sale process, I can help! The most important thing is for you to understand the many options available besides allowing a foreclosure sale to ruin your credit. Call or email me today for more information. Remember! You don&r...
Posted by Brian Creel at 1:04 PM in Category:
Mortgage & FinanceLink directly to this article.
Thursday, 5 March 2009
First Time Home Buyer Credit
The federal stimulus package changed the Firt Time Buyer Credit to be a true credit that does not have to be repaid and for up to $8,000. Contact us for more details and review all information with your tax advisor.
Let your congessman know that benefits to real estate buyers, current home owners, and home sellers are what will save our country. The market without too many tax burdens will p...
Posted by Brian Creel at 7:19 PM in Category:
Buying PropertyLink directly to this article.
First Time Home Buyer Credit
The federal stimulus package changed the Firt Time Buyer Credit to be a true credit that does not have to be repaid and for up to $8,000. Contact us for more details and review all information with your tax advisor.
Let your congessman know that benefits to real estate buyers, current home owners, and home sellers are what will save our country. The market without too many tax burdens will p...
Posted by Brian Creel at 7:13 PM in Category:
Buying PropertyLink directly to this article.
Thursday, 26 February 2009
CA State Tax Credit Proposal
Brought to you by the CALIFORNIA ASSOCIATION OF REALTORS®
Dear C.A.R. Member:
Following several months of debate and delays, our state representatives in Sacramento delivered a 2009-2010 budget to Governor Schwarzenegger today. The governor is expected to sign the budget as presented. Although details are sketchy, the budget appears to raise existing sales tax levels by 1 perc...
Posted by Brian Creel at 9:41 AM in Category:
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Wednesday, 28 January 2009
First Time Buyer Tax Credit
Recently in Washington, the First Time Buyer Tax Credit has been part of the recent discussions. One aspect to keep an eye on is the tax credit may become a grant. The difference is today the tax credit is really a loan with no interest and payment is through your tax return. According to the LA Times - the new stimulus package may include this change. As always you have to keep an eye on Wash...
Posted by Brian Creel at 6:47 AM in Category:
Buying PropertyLink directly to this article.
Wednesday, 14 January 2009
The Tax Value of Home Ownership
During this Important Tax Filing Season it is Important to Remember the Value of Home Ownership.
Although during this tax-filing season we are keenly aware some homeowners are having difficulty paying their mortgages, it is important to realize the benefits which come with home ownership.
Here are some points to consider, and discuss with your tax professional:
· Mortgage int...
Posted by Brian Creel at 4:03 PM in Category:
Buying PropertyLink directly to this article.
Wednesday, 7 January 2009
It happened again this week
It happened again this week. A GreatWest GMAC Professional received a call from an old friend, to say she and her husband were having difficulties with their mortgage(s), and were a little upside down on their home. They didn’t quite know what to do about it.
Real Estate Agents have increasingly seen this scenario - Homeowners who are in deep trouble because they either are in hom...
Posted by Brian Creel at 6:49 PM in Category:
Mortgage & FinanceLink directly to this article.
Wednesday, 19 November 2008
First Time Buyer Tax Credit
The 2008 First Time Home Buyer Tax Credit can be as much as $7,500. and is like a no interest loan that is relatively painless to pay back. If you would like more information about the tax credit, call or email the Ming Tree office for a full set of details. This tax credit goes away July 2009, so hurry to take advantage not only of the incredible interest rates but also the excellent value of ...
Posted by Brian Creel at 9:38 PM in Category:
Buying PropertyLink directly to this article.
Tuesday, 18 November 2008
State of the Market
As you well know the State of the Market is in a state of flux. Certainly there have been worst times for those trying to sell, but it is an opportunity for those looking to buy. And what an opportunity it is. Interest rates are very low, there is the $8,000 tax credit, and prices lower than they have been in years!
One of the dynamics I am personally encountering is that sellers are thin...
Posted by Brian Creel at 10:53 AM in Category:
Market ConditionsLink directly to this article.
Saturday, 18 October 2008
Factors That Determine Your Credit Score
GreatWest GMAC Real Estate Professionals, are increasingly being asked how to determine whether they are credit worthy with the recent more strict guidelines required to qualify for home loans.
Credit scores range between 200 and 800. Scores above 620 are considered desirable for obtaining a mortgage. Here are 5 factors that decide your credit score.
1. Your payment history. W...
Posted by Brian Creel at 6:16 PM in Category:
Mortgage & FinanceLink directly to this article.
Sunday, 14 September 2008
Senators Call For Freeze on Foreclosures
Various news agencies in the last several days have reported that four U.S. Senators have urged mortgage companies, Fannie Mae, and Freddie Mac to temporarily halt foreclosures on loans they hold.
The lawmakers advised the new chief executives and federal regulator now running Fannie Mae and Freddie Mac. The beleaguered companies, seized by the government a week ago, should help struggling bo...
Posted by Brian Creel at 5:09 AM in Category:
Mortgage & FinanceLink directly to this article.
Sunday, 7 September 2008
Federal Government Seizes Control of Fannie Mae and Freddie Mac
On late Friday, the news media became abuzz with reports, the shoe had finally began to drop with regard to Fannie Mae and Freddie Mac. Articles revealing the government had conjured a plan to put the two troubled mortgage Goliaths under federal control, dismiss their top executives, while shoring the institutions up financially.
The plan would prompt one of the more sweeping government ...
Posted by Brian Creel at 8:11 PM in Category:
NewsLink directly to this article.
Wednesday, 20 August 2008
Avoiding Scams Surrounding Free Credit Reports
Often when folks are readying themselves to buy homes, one of their first acts of readiness is to obtain their all important credit score. By law, consumer credit reporting companies, Experian, TransUnion, Equifax, are to provide you a free copy of your credit report, once a year, should you request it.
There is a toll-free number, mailing address, and a central website (listed below), wh...
Posted by Brian Creel at 5:33 AM in Category:
Buying PropertyLink directly to this article.
Avoiding Scams Surrounding Free Credit Reports
Often when folks are readying themselves to buy homes, one of their first acts of readiness is to obtain their all important credit score. By law, consumer credit reporting companies, Experian, TransUnion, Equifax, are to provide you a free copy of your credit report, once a year, should you request it.
There is a toll-free number, mailing address, and a central website (listed below), wh...
Posted by Brian Creel at 5:29 AM in Category:
Buying PropertyLink directly to this article.
Avoiding Scams Surrounding Free Credit Reports
Often when folks are readying themselves to buy homes, one of their first acts of readiness is to obtain their all important credit score. By law, consumer credit reporting companies, Experian, TransUnion, Equifax, are to provide you a free copy of your credit report, once a year, should you request it.
There is a toll-free number, mailing address, and a central website (listed below), wh...
Posted by Brian Creel at 5:27 AM in Category:
Mortgage & FinanceLink directly to this article.
Wednesday, 13 August 2008
At the Stroke of the Pen
At the stroke of the pen during the President’s recent signing of the Housing and Economic Recovery Act of 2008, opportunity arrived for First Time Buyers. But even beyond that – it is also good news for Sellers of entry-level houses as well. In recent months many folks dwelling in their first homes, had wished they could move up to larger homes, but were thwarted in doing so by a market that wo...
Posted by Brian Creel at 9:15 PM in Category:
Market ConditionsLink directly to this article.
Friday, 27 June 2008
Living Together While Marketing a Home
What to Do If You Are Divorcing and A Chilly Housing Market is Forcing You to Stay Under the Same Roof
Increasingly, GreatWest GMAC Real Estate Professionals are hearing of a trend - which could remind folks of a tamer version of the movie, “War of the Roses.”
Current real estate market conditions have some divorcing couples looking to separate their lives, but realizing they can...
Posted by Brian Creel at 11:30 AM in Category:
Market ConditionsLink directly to this article.
Wednesday, 9 April 2008
A Couple Questions & Answers Regarding “Short Sales”
As homeowners grapple with declining home values, and in some instances, mortgage payments that have dramatically increased, GreatWest GMAC Real Estate professionals are increasingly be queried about Short Sales.
Often a seller will become concerned because they are unable to make house payments, but do still have an ability to make all or part payment of the negative equity. They may ho...
Posted by Brian Creel at 12:46 PM in Category:
Selling PropertyLink directly to this article.
Wednesday, 12 March 2008
Improving Credit to Qualify for a New Mortgage
It isn’t unusual for GreatWest GMAC Professionals to come across clients, who would like to purchase a home, but are a tad skinny on qualifying for a new mortgage.
It is interesting to note that in fairly short order, a buyer can improve their finances enough to more readily allow for easier qualification of a home loan.
For instance, if you are someone, who has a few credit ca...
Posted by Brian Creel at 5:32 PM in Category:
Buying PropertyLink directly to this article.
Wednesday, 5 March 2008
Short Sales – Advantages and Pitfalls
Looking back a few years, when the over-exuberance of the housing boom was being partially fed by the first ingredients of the sub-prime debacle, it was difficult to foresee in this present day, we would be ramping ourselves up to speed on “short-sales.”
As many GreatWest GMAC Real Estate Professionals understand, “short-sales” can be anything but short in the process of negotiation with ...
Posted by Brian Creel at 6:41 AM in Category:
Free Information & ToolsLink directly to this article.
Thursday, 21 February 2008
During this Important Tax Filing Season
During this Important Tax Filing Season it is Important to Remember the Value of Home Ownership.
Although during this tax-filing season we are keenly aware some homeowners are having difficulty paying their mortgages, it is important to realize the benefits which come with home ownership.
Here are some points to consider, and discuss with your tax professional:
· Mortgage int...
Posted by Brian Creel at 7:02 AM in Category:
Free Information & ToolsLink directly to this article.
Wednesday, 14 November 2007
8 Steps to Getting Your Finances in Order
8 Steps to Getting Your Finances in Order
1. Develop a family budget. Instead of budgeting what you’d like to spend, use receipts to create a budget for what you actually spent over the last six months. One advantage of this approach is that it factors in unexpected expenses, such as car repairs, illnesses, etc., as well as predictable costs such as rent.
2. Reduce your de...
Posted by Brian Creel at 4:56 PM in Category:
Free Information & ToolsLink directly to this article.
Saturday, 15 September 2007
Chicken Little
Everybody’s Business
Chicken Little’s Brethren, on the Trading Floor
By BEN STEIN
Published: August 12, 2007
THE job of an economist, among many other duties, is to put things into perspective. So, because I am an economist, among other duties, here is a little perspective on the recent turmoil in the stock and bond markets.
Here is the first instance in which prop...
Posted by Brian Creel at 8:29 AM in Category:
NewsLink directly to this article.
Wednesday, 15 August 2007
Mortgage Market Mayhem
Swanepoel speaks out
RISMEDIA, August 13, 2007–The public media this past week headlined the apparent surprise “mortgage meltdown” as many reported the filing for bankruptcy protection by the nation’s 10th-largest residential financer; American Home Mortgage Investment Corp., Melville, New York. Real estate, contradictory to its glamorous profile a year or two ago, was again headlined but...
Posted by Brian Creel at 4:13 PM in Category:
Mortgage & FinanceLink directly to this article.
Thursday, 2 August 2007
5 Factors That Decide Your Credit Score
Credit scores range between 200 and 800. Scores above 620 are considered desirable for obtaining a mortgage. These factors will affect your score.
1. Your payment history. Whether you paid credit card obligations on time.
2. How much you owe. Owing a great deal of money on numerous accounts can indicate that you are overextended.
3. The length of your credit hi...
Posted by Brian Creel at 11:50 AM in Category:
Mortgage & FinanceLink directly to this article.
Thursday, 5 July 2007
Common Closing Costs for Buyers
The lender must disclose a good faith estimate of all settlement costs. A check to cover your closing costs will probably have to be a cashier’s check. The title company or other entity conducting the closing will tell you the required amount for:
Downpayment
Loan origination fees
Points, or loan discount fees, you pay to receive a lower interest rate<...
Posted by Brian Creel at 4:00 PM in Category:
Buying PropertyLink directly to this article.
Thursday, 21 June 2007
8 Steps to Getting Your Finances in Order
1. Develop a family budget. Instead of budgeting what you’d like to spend, use receipts to create a budget for what you actually spent over the last six months. One advantage of this approach is that it factors in unexpected expenses, such as car repairs, illnesses, etc., as well as predictable costs such as rent.
2. Reduce your debt. Generally speaking, lenders look for a total debt...
Posted by Brian Creel at 1:40 PM in Category:
Mortgage & FinanceLink directly to this article.
Thursday, 31 May 2007
5 Factors That Decide Your Credit Score
Credit scores range between 200 and 800. Scores above 620 are considered desirable for obtaining a mortgage. These factors will affect your score.
1.Your payment history. Whether you paid credit card obligations on time.
2.How much you owe. Owing a great deal of money on numerous accounts can indicate that you are overextended.
3.The length of your credit histo...
Posted by Brian Creel at 12:06 PM in Category:
Mortgage & FinanceLink directly to this article.
5 Factors That Decide Your Credit Score
Credit scores range between 200 and 800. Scores above 620 are considered desirable for obtaining a mortgage. These factors will affect your score.
1.Your payment history. Whether you paid credit card obligations on time.
2.How much you owe. Owing a great deal of money on numerous accounts can indicate that you are overextended.
3.The length of your credit histo...
Posted by Brian Creel at 11:40 AM in Category:
Buying PropertyLink directly to this article.
Monday, 14 May 2007
8 Ways to Improve Your Credit
Credit scores, along with your overall income and debt, are a big factor in determining if you’ll qualify for a loan and what loan terms you’ll be able to qualify for.
1. Check for and correct errors in your credit report. Mistakes happen, and you could be paying for someone else’s poor financial management.
2. Pay down credit card bills. If possible, pay off the entire balance e...
Posted by Brian Creel at 11:55 AM in Category:
Mortgage & FinanceLink directly to this article.
