From the category archives:

San Diego real estate

Another bill rejected -SB 1275

by Ana Maria Goodemote San Diego home prices

California State Assembly have rejected .. .   bill SB 1275 this week, a bill would have required banks to provide homeowners with a fully considered loan modification decision before banks could foreclose on a home.  The vote was 36 to 30 against a bill that would have helped or at least gave homeowners peace of [...]

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Chula Vista is a great place to live!

by Erin McBratney San Diego real estate

Located in San Diego's South Bay, .. the City of Chula Vista is a vibrant and culturally diverse community with much to offer. An abundance of neighborhood parks along with local public and private schools help to create a family atmosphere that is warm and inviting. Amenities include great shopping and dining, concerts at Cricket [...]

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Realtor Red Alert from CAR

by Ana Maria Goodemote San Diego real estate

The California Association of Realtors® … CAR – has issued a Red Alert to its Realtors® on bill SB1178. C.A.R. is urging Realtors® to contact Governor Schwarzenegger to ask him to sign SB1178. SB1178 is a bill that will protect home owners who have refinanced their home. Why is this important? If you refinanced your [...]

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More homeowners add cash to refi’s

by Erin McBratney San Diego real estate

Cash in refinances rise in the 2nd quarter of 2010 Freddie Mac reports almost one quarter (22%) of people refinancing their home mortgages brought in additional funds to lower their principal balance at closing. This record ties for the 3rd highest "cash-in" share since Freddie Mac started keeping records on refinancing patterns in 1985. Borrowers [...]

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How come home builder stocks went up?

by Ana Maria Goodemote San Diego real estate

With news about lower homes sales … … this past July contributing to the tumbling of U.S. stocks, then how is it that Toll Brother (Photo is of Robert and Bruce Toll) who are luxury homebuilders and SPDR Homebuilders who hold KB Home and Pulte have seen their stocks raise in value? Well the answer [...]

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More Protection for Borrowers?

by Erin McBratney Home buying tips

On Monday, new rules were issued by the Federal Reserve Board affecting mortgage loan officers & mortgage brokers and the companies and institutions who employ them. The rules are designed to protect borrowers from deceptive, abusive or unfair lending practices and go into effect April 01, 2011. Currently, if a borrower accepts a higher interest [...]

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Is Refinancing out of reach?

by Ana Maria Goodemote San Diego real estate

U.S. mortgage rates are at an all time low. According to Freddie Mac last week a 30 year fixed rate mortgage dipped to 4.44%, thus allowing home owners to refinance their current loan to obtain lower monthly payments. However home owners are finding qualifications are much stricter and thus not getting the approval letter they [...]

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More horrible MLS photos

by Peter Toner San Diego real estate

Horrible MLS photo update – more agents to shame .. I swear that these photos only took a total of 10 minutes to find on my local MLS (Sandicor) here in San Diego, California Unfortunately we couldn't make this stuff up if we tried … Hmmm, are they featuring the view from the front door? [...]

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Zillow’s Zestimates – accurate or not?

by Ana Maria Goodemote Home buying tips

I hear this over and over again .. “I looked up the home on Zillow” and … This again happened this past week   My clients looked on Zillow and found the San Diego home they were considering purchasing "valued" much lower then the asking price. Even though the Buyer’s were considering a fair offer [...]

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FHA refi may help underwater owners

by Erin McBratney General

Last week the Federal Housing Administration (FHA) … … gave details on its "FHA Short Refinance" that will help lenders provide additional refinancing options to underwater borrowers. Starting September 7th, eligible homeowners will have the chance to qualify for a new FHA-insured mortgage through this program. This participation is voluntary and requires all lien holders' [...]

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Sales of San Diego homes on Court House steps

by Peter Toner General

San Diego foreclosures and home sales on the Court House steps. Kelly Bennett of the Voice of San Diego talks to NBC San Diego about sales of homes on the court house steps. This is a long time practice made worse of course by the sheer numbers of San Diego homes that are in the [...]

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Tax Credit funds running out :-(

by Erin McBratney Home buying tips

Funds low for California's Tax Credit Get in while you can! Applications are still being accepted by the Franchise Tax Board (FTB) for California's first-time homebuyer tax credit over a month after it looked like the credit had run out. The FTB, however, just announced it will stop accepting applications as of August 15, 2010. [...]

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Bank takes enormous hit on San Diego mansion

by Peter Toner San Diego home prices

A house that local residents dubbed "The Monster House" … has just sold in San Diego for $2,000,000 last week – just a little less than the claimed $13,000,000 that it cost to build back in 2006. With 16,000 square-feet this mansion on Fortuna Ranch in Encinitas is reported to have (according to Sandicor data)  [...]

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“Walk aways” get 7 year term!

by Erin McBratney Home selling tips

Policy changes were recently announced by FNMA … designed to help borrowers work with the lender servicing their loan and pursue other alternatives to foreclosure. Borrowers who default strategically (Walk Away's) on their mortgage despite having the resources to pay as well as those who do not try to work out an alternative will not [...]

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FHA changing seller “kick backs”

by Erin McBratney General

Or otherwise know as "seller concessions" San Diego home sellers and buyers will need to move quickly if they want to take advantage of maximum seller concessions on their FHA home purchase. The Federal Housing Administration plans to cut seller concessions from 6% to 3% sometime this summer Those concessions allow a seller to pay [...]

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