With the storm moving into San Diego County, the Department of Public Works has activated the emergency page. This page will offer the latest updates on weather, roads conditions, road closures and snow plowing. Yes, you read that correctly SNOW PLOWING! Snow could drop to as low as 1500 feet this weekend.
San Diego Storm Information
Thursday, February 24, 2011
San Diego Real Estate Market Report
Here is a great report that shows you the recent trends in the San Diego Real Estate Market. If you would like more information about another area or city within San Diego County, please feel free to give me a call.
San Diego Real Estate Market Report
San Diego Real Estate Market Report
Tuesday, February 22, 2011
FHA to Raise MIP on April 18th
New loans insured by FHA on or after April 18, 2011 will have an increased annual mortgage insurance premium (MIP) of a quarter of a percentage point (.25) on all 30- and 15-year loans. The upfront MIP will remain the same at 1.0 percent. What does this mean to you, the home buyer? It means that if you get an FHA loan for $200,000 after April 18th it is going to cost you about $42.00 more per month. It could also mean that you would qualify for about $8,000 less due to the increased payment,
Affects of Short Sale versus Foreclosure
How Will a Short Sale or Foreclosure Affect...
CREDIT SCORES
Short Sale
Credit Scores may be lowered as little as 50 points as long as all other payments have been made and will typically affect it for as long as 12 - 18 months. Mortgages will be reported as either Paid or Negotiated.
Foreclosure
I Credit Scores may be lowered anywhere from 250 to over 300 points and will typically be affected for over 3 years.
__________________________________________________________________________
CREDIT HISTORY
Short Sale
A short sale may appear on a person's credit history and is usually reported as Settled for Less than the Full Amount.
Foreclosure
Foreclosures will remain as public record on a person's credit history for 10 years or longer.
__________________________________________________________________________
BUYING ANOTHER HOME
Short Sale
A borrower on future mortgage applications will not be asked about a short sale and may be able to receive a reasonable interest rate in less than two years.
Foreclosure
A borrower on future mortgage applications will be asked if they have had their property foreclosed on within the last 7 years and will therefore affect their interest rates.
__________________________________________________________________________
FUTURE LOANS
Short Sale
An investor or homeowner who completes a successful short sale will be eligible for a Fannie Mae backed mortgage after 2 years or less.
Foreclosure
An investor or homeowner of a foreclosed property will be ineligible for a Fannie Mae backed mortgage for 7 years.
__________________________________________________________________________
EMPLOYMENT OPPORTUNITIES & SECURITY CLEARANCE
Short Sale
A short sale will not appear on a person's credit history and is usually reported as Settled for Less than the Full Amount and therefore should not challenge any employment opportunities or security clearances.
Foreclosure
A foreclosure on a person's credit report may be grounds for termination for some companies and could cancel a person's security clearance. A foreclosure on record may challenge future employment opportunities as well.
__________________________________________________________________________
DEFICIENCY JUDGMENTS
Short Sale
In California, purchase-money loans on a one- to four-unit residential dwelling are exempt from deficiency judgments. However, hard-money loans, such as a refinance or 2nd mortgage, may be subject to deficiency judgments.
Foreclosure
In California, purchase-money loans on a one- to four-unit residential dwelling are exempt from deficiency judgments. However, hard-money loans, such as a refinance or 2nd mortgage, may be subject to deficiency judgments.
__________________________________________________________________________
CREDIT SCORES
Short Sale
Credit Scores may be lowered as little as 50 points as long as all other payments have been made and will typically affect it for as long as 12 - 18 months. Mortgages will be reported as either Paid or Negotiated.
Foreclosure
I Credit Scores may be lowered anywhere from 250 to over 300 points and will typically be affected for over 3 years.
__________________________________________________________________________
CREDIT HISTORY
Short Sale
A short sale may appear on a person's credit history and is usually reported as Settled for Less than the Full Amount.
Foreclosure
Foreclosures will remain as public record on a person's credit history for 10 years or longer.
__________________________________________________________________________
BUYING ANOTHER HOME
Short Sale
A borrower on future mortgage applications will not be asked about a short sale and may be able to receive a reasonable interest rate in less than two years.
Foreclosure
A borrower on future mortgage applications will be asked if they have had their property foreclosed on within the last 7 years and will therefore affect their interest rates.
__________________________________________________________________________
FUTURE LOANS
Short Sale
An investor or homeowner who completes a successful short sale will be eligible for a Fannie Mae backed mortgage after 2 years or less.
Foreclosure
An investor or homeowner of a foreclosed property will be ineligible for a Fannie Mae backed mortgage for 7 years.
__________________________________________________________________________
EMPLOYMENT OPPORTUNITIES & SECURITY CLEARANCE
Short Sale
A short sale will not appear on a person's credit history and is usually reported as Settled for Less than the Full Amount and therefore should not challenge any employment opportunities or security clearances.
Foreclosure
A foreclosure on a person's credit report may be grounds for termination for some companies and could cancel a person's security clearance. A foreclosure on record may challenge future employment opportunities as well.
__________________________________________________________________________
DEFICIENCY JUDGMENTS
Short Sale
In California, purchase-money loans on a one- to four-unit residential dwelling are exempt from deficiency judgments. However, hard-money loans, such as a refinance or 2nd mortgage, may be subject to deficiency judgments.
Foreclosure
In California, purchase-money loans on a one- to four-unit residential dwelling are exempt from deficiency judgments. However, hard-money loans, such as a refinance or 2nd mortgage, may be subject to deficiency judgments.
__________________________________________________________________________
Thursday, February 17, 2011
Monday, February 14, 2011
Poem For You!
Roses are red.
Violets are Blue.
I'm here at work.
I'll find a house for YOU!
Not looking to buy?
Do you need to sell?
Call me today.
I do that as well!!!!
Hope you all have a great day!!
Violets are Blue.
I'm here at work.
I'll find a house for YOU!
Not looking to buy?
Do you need to sell?
Call me today.
I do that as well!!!!
Hope you all have a great day!!
Friday, February 11, 2011
Suggestions for a Sweet Valentine's Day in San Diego
Here is a link to some good ideas for Valentine's Day in San Diego. What would be your idea of a great Valentine's Day?
San Diego Things To Do Smart Suggestions For A Sweet Valentine's Day
San Diego Things To Do Smart Suggestions For A Sweet Valentine's Day
Wednesday, February 2, 2011
Alpine Real Estate Stats - January 2011
Here are the real estate statistics for Alpine. I have included active, pending and sold single family homes for the month of January 2011. If you would like more information or when you hear of someone considering buying or selling, please give me a call. I am here to help.
There are currently 86 active listings, ranging from $199,000 for 1 bedroom, 1 bathroom, 600 square feet to $2,599,500 for 3 bedroom, 3 bathroom, 3000 square feet.
There are currently 20 properties pending (in escrow).
5 properties sold (closed escrow) in January, ranging from $345,000 for 6 bedroom, 3 bathroom, 3128 square feet to $499,000 for 3 bedroom, 4 bathroom, 2724 square feet. The average market time was 75 days.
There are currently 86 active listings, ranging from $199,000 for 1 bedroom, 1 bathroom, 600 square feet to $2,599,500 for 3 bedroom, 3 bathroom, 3000 square feet.
There are currently 20 properties pending (in escrow).
5 properties sold (closed escrow) in January, ranging from $345,000 for 6 bedroom, 3 bathroom, 3128 square feet to $499,000 for 3 bedroom, 4 bathroom, 2724 square feet. The average market time was 75 days.
El Cajon Real Estate January 2011
It's time again for the monthly real estate statistics for El Cajon. I have included all three zip codes. These statistics are for single family homes for the month of January 2011. If you would like more information or when you hear of someone considering buying or selling, please give me a call. I would be happy to help.
92019
There are currently 126 Active listings, ranging from $184,900 for 3 bedrooms, 2 bathrooms, 1116 square feet to $2,250,000 for 3 bedrooms, 3 bathrooms, 4445 square feet.
49 properties are pending (currently in escrow).
16 properties sold (closed escrow) in January, ranging from $159,000 for 3 bedroom, 2 bathroom, 1014 square feet to $675,000 for 5 bedroom. 4 bathroom, 3080 square feet. The average days on the market was 124.
92020
There are currently 109 Active listings, ranging from $174,900 for 1 bedroom, 1 bathroom, 1000 square feet to $1,195,000 for 4 bedroom, 5 bathroom, 3519 square feet.
43 properties are Pending (in escrow).
14 properties sold (closed escrow) in January ranging from $135,000 for 2 bedroom, 1 bathroom, 753 square feet to $540,000 for 3 bedroom, 3 bathroom, 1875 square feet. The average days on the market was 53!
92021
There are currently 120 Active listings, ranging from $119,000 for 4 bedroom, 2 bathroom, 1800 square feet to $1,200,000 for 3 bedroom, 2 bathroom, 1500 square feet.
38 properties are pending (currently in escrow).
18 properties sold (closed escrow) in January, ranging from $157,000 for 3 bedroom, 2 bathroom, 1404 square feet to $680,000 for 4 bedroom, 4 bathroom, 3633 square feet. The average time on the market was 69 days.
92019
There are currently 126 Active listings, ranging from $184,900 for 3 bedrooms, 2 bathrooms, 1116 square feet to $2,250,000 for 3 bedrooms, 3 bathrooms, 4445 square feet.
49 properties are pending (currently in escrow).
16 properties sold (closed escrow) in January, ranging from $159,000 for 3 bedroom, 2 bathroom, 1014 square feet to $675,000 for 5 bedroom. 4 bathroom, 3080 square feet. The average days on the market was 124.
92020
There are currently 109 Active listings, ranging from $174,900 for 1 bedroom, 1 bathroom, 1000 square feet to $1,195,000 for 4 bedroom, 5 bathroom, 3519 square feet.
43 properties are Pending (in escrow).
14 properties sold (closed escrow) in January ranging from $135,000 for 2 bedroom, 1 bathroom, 753 square feet to $540,000 for 3 bedroom, 3 bathroom, 1875 square feet. The average days on the market was 53!
92021
There are currently 120 Active listings, ranging from $119,000 for 4 bedroom, 2 bathroom, 1800 square feet to $1,200,000 for 3 bedroom, 2 bathroom, 1500 square feet.
38 properties are pending (currently in escrow).
18 properties sold (closed escrow) in January, ranging from $157,000 for 3 bedroom, 2 bathroom, 1404 square feet to $680,000 for 4 bedroom, 4 bathroom, 3633 square feet. The average time on the market was 69 days.
Jamul Real Estate - January 2011
Hi All, here are the real estate statistics for January 2011. I have included active, pending and sold statistics for single family homes for you to review. Call me if you would like more information or when you hear of someone thinking of buying or selling a home.
There are 43 Active listings, ranging from $159,900 for 2 bedroom, 2 bathroom, 1223 square feet to $2,350,000 for 6 bedrooms, 5 bathrooms, 6264 square feet.
16 properties are pending (currently in escrow).
3 properties sold (closed escrow) in January. 3 bedroom, 2 bathroom, 1733 square feet for $199,500, a 3 bedroom, 3 bath, 1749 square feet for $335,000 and a 5 bedroom, 4 bathroom, 2976 square feet for $365,900. The average time on the market was 77 days.
Check back again. I post the stats monthly.
There are 43 Active listings, ranging from $159,900 for 2 bedroom, 2 bathroom, 1223 square feet to $2,350,000 for 6 bedrooms, 5 bathrooms, 6264 square feet.
16 properties are pending (currently in escrow).
3 properties sold (closed escrow) in January. 3 bedroom, 2 bathroom, 1733 square feet for $199,500, a 3 bedroom, 3 bath, 1749 square feet for $335,000 and a 5 bedroom, 4 bathroom, 2976 square feet for $365,900. The average time on the market was 77 days.
Check back again. I post the stats monthly.
Tuesday, February 1, 2011
Who Says You Can't Get A Loan?
Yesterday I posted on Facebook a link to an article discussing that some lenders had begun to loosen their strangle hold on money. They are becoming more realistic with their lending requirements. I met with Mark Joplin of Greenpath Funding and discussed some of the loans that are currently available that potential homebuyers may not be aware of. I would like to share a sampling with you.
The Rural Home Loan offers 100% financing for homes located in rural areas, parts of Alpine, Jamul, Ramona, and other San Diego county areas qualify.
97% financing for HomePath properties, no MI (Mortgage Insurance) and no condo certs needed.
FHA 96.5% financing down to 600 Fico score up to $417,000 purchase price or down to 640 Fico for up to $697,5000 purchase price.
VA loans with 0 down and 0 closing costs
95% financing for 720 fico score for single family or 740 fico on condos
90% financing for a 500 mid fico score and using FHA up to $417,000 purchase price
90% financing on rental property, no MI, single family home using HomePath loan
85% financing up to $697,500
80% financing up to $697,500 with 620 mid score
80% financing up to $1,000,000
This is just a smapling to show you that there are many loan types available. Some with little or no down payment required. If you tried to buy a home a couple of years ago and were told you did not qualify you should see if there is now a loan available for you. You never know, you may be able to take advantage of the lower prices and good interest rates and become a home owner. Please call me if you would like more information or to see if you qualify. What are you waiting for? Are ready to be a homeowner? Give me a call to start the process.
The Rural Home Loan offers 100% financing for homes located in rural areas, parts of Alpine, Jamul, Ramona, and other San Diego county areas qualify.
97% financing for HomePath properties, no MI (Mortgage Insurance) and no condo certs needed.
FHA 96.5% financing down to 600 Fico score up to $417,000 purchase price or down to 640 Fico for up to $697,5000 purchase price.
VA loans with 0 down and 0 closing costs
95% financing for 720 fico score for single family or 740 fico on condos
90% financing for a 500 mid fico score and using FHA up to $417,000 purchase price
90% financing on rental property, no MI, single family home using HomePath loan
85% financing up to $697,500
80% financing up to $697,500 with 620 mid score
80% financing up to $1,000,000
This is just a smapling to show you that there are many loan types available. Some with little or no down payment required. If you tried to buy a home a couple of years ago and were told you did not qualify you should see if there is now a loan available for you. You never know, you may be able to take advantage of the lower prices and good interest rates and become a home owner. Please call me if you would like more information or to see if you qualify. What are you waiting for? Are ready to be a homeowner? Give me a call to start the process.
Subscribe to:
Posts (Atom)
AddThis
