Archive | Home Buying Tips

Stated Income Home Loans – No Longer Something from Our Past

Home Financing Restrictions Easing In the past, before our economy hit rock bottom and during the housing boom, people could simply state that they made more money than they actually did, leaving them with a house payment that they couldn't afford when the market eventually turned. As a result, these "stated income" loans were considered […]

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Repairing Your Credit After a Short-Sale or Foreclosure

Credit Score Tips Short-selling your home may be a way to lift a financial burden off your shoulders and the credit effects of a short-sale are definitely negative, but they can be corrected. When repairing your credit there are five factors to consider: Payment history, amounts owed, length of credit history, new credit and, types of […]

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Green Homes Sell for 9% More

Going Green Gets More Costly in California With green homes not only selling for 9% MORE in California, their premium is also the highest and in the hottest, most eco-minded areas. Green certified, single-family homes sold for an average of $34,800 more than comparable homes from 2007 to 2012 when the average California home was […]

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FHA Rescinds Tough New Credit Restrictions

Home Buyers Find It Easier to Obtain FHA Loans In a policy switch that could be important to thousands of applicants seeking home mortgages with low down payments, the Federal Housing Administration has rescinded tough new credit restrictions that were scheduled to take place the beginning of this month. Borrowers who would have been affected […]

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10 Reasons Why Real Estate Investors Should Buy Property Now

Buy San Diego Investment Properties…. Best Purchase Opportunity in Decades – Many commercial brokers believe that present market conditions provide an unparalleled buying opportunity to lock in significant real estate investment returns. Despite opinions of some real estate professionals, however, many investors remain on the fence. 1031 Exchange Opportunity – Investors with low basis properties […]

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5 Things To Know Before You Move Into A Neighborhood

Research, Research, Research! 1. Check Megan's Law databases & call the local police department for statistics. 2. Is the area recession-resistant? Hardest hit areas with good deals may take longer to see value increases. How long are you planning keeping the home? 3. Does the neighborhood reflect your lifestyle? Do you look for museums, parks, restaurants, easy […]

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Do you own a Condo or interested in purchasing one?

FHA has changed their requirements for approving complexes for financing. If the complex is not approved this means you or your buyer cannot get FHA lending which in turn leads alternative financing with a higher down payment requirement. The new FHA rules focus on budgets, reserves and insurance. FHA states this is to avert losses from delinquencies and foreclosures but it […]

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20% Downpayment Proposal – What’s the latest?

The 20 percent proposal is alive but groups are still trying to bury it. The higher initial equity the lower the probability of foreclosure is the belief.  The proposal to require 20% down payment on all mortgages is most likely be pushed back until after the next election.  Analysts estimate this could prevent up to […]

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