Dec
08

3% Down Payment?

Posted In: Alameda County, Economy, First Time Home Buyers, For Buyers, General Real Estate News, Mortgage & Finance, Neighborhoods, Uncategorized
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3% down payments are back!  In order to help low-income and first time home buyers Fannie Mae and Freddie Mac will begin backing these types of loans.  What do you think? Do you think this will set up the coming of another housing bubble or have borrowers learned not to borrow more than they can pay for? Would love to [...]
Dec
01

High Rental Rates Equal Higher Mortgage Rates?

Posted In: Alameda, Alameda County, Albany, Berkeley, Economy, El Cerrito, Emeryville, First Time Home Buyers, For Boomers, For Buyers, For Sellers, General Real Estate News, Kensington, Local Market Statistics, Mortgage & Finance, Oakland, Rentals, Richmond, Temescal, Uncategorized
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High rental rates near BART don’t necessarily equal higher mortgage rates.  KQED recently posted this cool albeit somewhat depressing map showing you where you can find an affordable 1 bedroom near BART.  While this may be hard to look at from a renter’s point of view, we need to remember that owning closer to BART does not necessarily mean you [...]
Jan
11

Sean O’toole’s California Forecast for 2013

Posted In: Court and Auctions, First Time Home Buyers, For Buyers, For Sellers, Foreclosures & Short Sales, General Real Estate News, Local Market Statistics, Mortgage & Finance
Interesting article from www.foreclosuretruth.com http://www.foreclosuretruth.com/blog/sean/california-forecast-for-2013-more-of-the-same-save-the-black-swan/#comments I actually agree with most of this article, with my key thoughts being: In our neck of the woods trustee sale investors (think large suitcases full of cash on the courthouse steps) are seeing more competition but still finding amazing deals.  Most are not banking on large ROI’s anymore, just looking to make a few [...]
Feb
09

Expired Rate Lock Can Cost You

Posted In: First Time Home Buyers, For Buyers, Mortgage & Finance
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Just received this from a mortgage broker with RPM Mortgage in Berkeley: “Keep in mind that there will be a pretty hefty lock extension fee  if an escrow extends past the original lock period. Any delays could be quite costly to the buyer.” Attention buyers: don’t delay on jumping in and starting your inspections and negotiations, and be you and [...]
Oct
21

Great news! Jumbo Conforming Loan Limits to be Restored!

Posted In: First Time Home Buyers, For Buyers, General Real Estate News, Mortgage & Finance
JUMBO Great news!  Jumbo Conforming Loan Limits to be Restored!  Inman News just reported that in a 60-38 vote Thursday, the Senate approved an amendment to a spending bill that would restore the $729,750 ceiling that was first put in place in 2008 to allow Fannie Mae, Freddie Mac and the Federal Housing Administration to back what were previously considered [...]
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