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Is now a good time to buy a San Diego home?
Mortgage rates dropped last week to the lowest they have been since May of 2004. Most 30 year fixed rate loans are less than 5%, while 1, 3, and 5, year fixed with adjustable rates have dropped below 4%. A new wave of foreclosures is expected this summer due to the maturation of many of the 5 [...]

Loan Modifications & Your Credit Score
Financially strapped homeowners in San Diego looking to cut their mortgage payments through a loan modification … … or principal reduction needn't destroy their credit scores in the process. Some of the most frequently used mortgage modification programs turn out to have minimal negative impact on homeowner's FICO scores. As an example, people with excellent scores [...]
WOW – new CA home buyer credit!
WINDOW OF OPPORTUNITY FOR CALIFORNIA BUYERS Last week Gov. Schwartzenegger signed Assembly Bill 183, the Homebuyer's Tax Credit legislation, into law. This has created a brief window of opportunity for buyers in California to receive up to $18,000 in combined federal and state homebuyer tax credits! Here are the basics: A first-time homebuyer must enter into a valid [...]
New IRS rules for Tax Credits
New guidelines were issued this month by the IRS …. …. for the two tax credit programs for first-time homebuyers and existing homeowners. When Congress revised the programs in November, the IRS was instructed to tighten its rules and monitoring to prevent widespread frauds that had occurred since early 2009. Some of the abuses included fictitious home [...]
New FHA lending rules for home buyers
FHA TRYING TO GET RIGHT BALANCE WITH NEW RULES FHA announced tightened lending requirements in late January. The changes are being implemented to increase FHA's capital reserves and help the agency do a better job with risk management. The new rules will require a Buyer to either spend more to obtain a loan or to purchase at [...]
Is it good news yet for the first time buyer credit?
A compromise may have been reached in the Senate … …. to both extend and expand the $8000 first-time homebuyers tax credit.   That's good news for the housing industry. They believe the credit has brought new families to the housing market, helped contribute to 3 consecutive months of rising home prices nationwide and continues to help it [...]
Statistically Speaking ……
I’m so glad I attended a seminar by John Altman a couple of days ago. John has been in the real estate business for 40 yrs. and is an excellent speaker. He also is a master at statistics. As he started to give us some of the information he had compiled, I began to understand why I’ve been [...]
HAP. Homeowners Assistance Program.
Military Homeowners Sellers Assistance Program. Relocating can be a significant part of being in the military. With new orders and a potential relocation every 18 months or so, buying and selling a home becomes especially challenging. During the height of the housing boom, selling a home could be done in a few days to a few [...]
Realtors step up to the plate
CAR - the California Association of Realtors offer buyer protection … It seems like stimulus packages and buyer incentives have become the norm these days.  First the car companies offered incentives that if you buy a car and lose your job, they will pay your car payment or even take your car back with no penalties.  What [...]
Beware of foreclosure scams
This economy unfortunately can bring the worst out in people. It’s not enought that homeowners are going through the trauma of possibly loosing their homes – there are unscrupulous people preying on them to add to the insult … The California Association of Realtors has a short article highlighting the areas that are "Red Flags" – tips [...]