The truth can sometimes be unpalatable but sometimes you just got to tell it like it is. This site aims to keep you advised about trends in the San Diego real estate market including short sales and foreclosures - plus changes to lending criterior or tax …
…. have been issued regarding the first time homebuyer tax credit worth up to $8000. Many had hoped FHA would allow lenders to give the 3.5% down payment to buyers in the form of a 2nd loan on the property.
The 2nd loan would have then been paid off when the buyer received their tax credit. Unfortunately, FHA has decided not to allow what they consider a "no down payment" loan.
However, the good news is FHA will allow the tax credit to be used for closing costs and any additional down payment, which can help buyers to obtain a lower interest rate. FHA allows parents, employers and other government agencies to contribute towards the 3.5% down payment.
There are also a number of state housing finance agencies offering down payment assistance loans that can be used to meet FHA minimum down payment requirements. The FHA down payment can also come in the form of a 100% gift as long as it is from a blood relative and the monies need not be paid back.
You can give our office a call and one of our Buyer’s Agents would be happy to discuss your options regarding FHA loan programs! Call 858 551-3311
.
Home buyers get frustrated in North Park / City Heights / Normal Heights
A client of our is getting pretty frustrated with trying to find a home in the area.
She had called about a home that was recently listed. We checked with the listing agent about the availability and …
New tax credit for buying a brand new home, but it won’t last …
Many first time homebuyers (those who haven’t had ownership in a principal residence for 3 yrs.) have heard about the $8000 tax credit included in the recent stimulus package. So many are taking …
Here in San Diego we have seen months and months of bad real estate news from the media.
Then all of a sudden (on April fools day - no joke) the San Diego Union Tribune writes a story entitled "Signs suggest county housing market recovering".
One of …
THE GOVERNMENT PAYS YOU TO PURCHASE A HOME!!!
The new economic stimulus plan that became law recently gives first time home buyers a tax credit up to $8000. According to the new rules, you have to buy your first home between Jan. 1st and Nov. 30th, …
This week President Obama’s Stimulus Plan was passed by the House of Representatives. Since being sworn into office Obama has been working hard to promote the bill in hopes the Republican reps would support him. The plan passed at 244-188, not a single Republican supported …
Today’s real estate news is saturated with talk about REO’s, short sales, foreclosures and the troubled real estate market, but just how bad is it? Some propose the market is nearing bottom, others have a more doomsday approach and expect the market not to bottom …
This morning the Today Show interviewed Barbara Corcoran, a well known and very successful entrepreneur who gained her success by creating her own real estate brokerage group. She has since sold her business for a very pretty penny and now spends her time writing books, contributing …
It’s been a busy first day for the new President and one thing is certain; he’ll continue to have his plate full… especially with new measures from lawmakers. In the recent months before Obama’s swearing in, lawmakers have been working quickly to create
solutions to …
As the real estate roller coaster ride continues, MDA DataQuick is discovering some interesting statistics. Although much of the San Diego County has seen price declines, there are some areas that have not been hit and are actually experiencing some median price increases.
San Diego real …
A recent Forbes.com article discussed the current activity in real estate markets, not only in San Diego, but across the country. Yes the trend we’ve all heard seems to hold true for
most markets, median home prices are down. What is being seen that’s different from previous months in …
San Diego Restaurant Week is back and ready to satisfy the taste buds!
The kick off day for Restaurant Week is this Sunday the 11th and continues through the 16th of January. Lasting only 5 days it’s a special treat to diners who would like to …
San Diego homeowners have you heard; the foreclosure freeze has been extended an additional three weeks? Fannie Mae and Freddie Mac originally announced the freeze in November of last year. The program was due to expire on January 9th, 2009; but the
new end date is …
Who would have thought that affordability and San Diego Homes would ever be in the same sentence again… but dare we say it?? Yes we shall!
The California Association of Realtors announced recently that San Diego home affordability was at 51% for the 3rd quarter of …
Its that time again, here are this week’s Bad San Diego MLS photos…
Recently updated kitchen "in need of a little TLC"…
Things that make you go hmmmm… notice the garden hose???
The exit sign telling you which way to run is priceless…
Until next time….
Local government representatives for the San Diego region have a $7.4 billion dollar wish list for 2009. The proposal calls for more than 1,000 projects that will not only improve the San Diego areas infrastructures but also bring along with it almost 96,000 jobs for …
Formal guidelines from the Federal Housing Administration …
…. have been issued regarding the first time homebuyer tax credit worth up to $8000. Many had hoped FHA would allow lenders to give the 3.5% down payment to buyers in the form of a 2nd loan on …
The description for the photo below read:
"Large kitchen, perfect for entertaining"
One problem… the listing agent didn’t think to clean up the current tenants "entertaining" remnants prior to snapping a photo to post in the property listing. Perhaps they thought the keg cup, empty cans and bottles gave it an …
The government’s latest attempt to assist the nation’s struggling financial system is their bail out of Citigroup, one of the world’s largest banks. So what’s the price tag on this newest bail out? To start $306 billion in loan guarantees as well as an added …
Yes, you heard that right! San Diego voters as well as voters across the nation are being rewarded with free food and drinks. Krispy Kreme, Starbucks and Ben and Jerry’s are all offering free items to those who have voted in today’s election. Krispy Kreme …
Formal guidelines from the Federal Housing Administration …
…. have been issued regarding the first time homebuyer tax credit worth up to $8000. Many had hoped FHA would allow lenders to give the 3.5% down payment to buyers in the form of a 2nd loan on …
Peter Toner
team leader
Raymond Vinole
buyers agent
Ana Maria Goodemote
buyers agent
Erin McBratney
buyers agent
Greg Parker
HomeServices Lending
Mark Angstead
California Title
Subscribe in a reader
