By admin, on April 1st, 2011
 On Tuesday, U.S. bank regulators submitted a proposal that would require lenders to originate mortgages with at least a 20 percent down payment if they want to repackage the loan to sell to other investors without keeping some of the risk on their books. The bank regulators say this would create strong incentives for responsible lending and borrowing.
MAKING SENSE OF THE STORY
• The Federal Deposit Insurance Corp. board and the Federal Reserve agreed to seek public comment on the proposal. However, the rule is expected to have little near-term effect because loans sold to Fannie Mae, Freddie Mac and FHA and VA loans would be exempt. The U.S. government currently backs nearly 90 percent of home mortgages. This is a preview of Regulators propose tighter rules for mortgage-backed securities . Read the full post (401 words, 7 images, estimated 1:36 mins reading time)
By admin, on March 14th, 2011
The CALIFORNIA ASSOCIATION OF REALTOR® (C.A.R.) published its findings of a survey this week, which show that tedious lender requirements and poor communication hamper short sales.
MAKING SENSE OF THE STORY
•Fewer than three of five short sales close in California, illustrating the complexity and difficulty of navigating lenders’ and servicers’ short sale procedures, according to C.A.R.’s survey, which gauged REALTORS®’ experience in working with short sale transactions – transactions in which the lender or lenders agree to accept less than the mortgage amount owed by the current homeowner.
By admin, on January 5th, 2011
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Offered At: $208,000
Property Status: Active
Date of Listing: 1/3/2011
Bedrooms: 2
Bathrooms: 1
Lot Size: 0.04 acres
Interior Size: 627 sq. ft.
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Renovated from the foundation up!!
- New roof
- New electrical
- New plumbing
- Stainless steel appliances
- Granite counter tops,
- And more!!
An amazing value for this gorgeous move in ready condo alternative. Located in the Fruitvale/Lower Diamond neighborhood, this home is located a short distance to the Fruitvale shopping center with Farmer Joe’s, Peets coffee, La Farine bakery. Also near the shops and resturants on International Blvd and a short distance to the Fruitvale BART station. Easy access to 580, 880 and Highway 13.
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This is a preview of Renovated from the foundation up! Move in Ready 2BA/1BA . Read the full post (341 words, 18 images, estimated 1:22 mins reading time)
By admin, on November 15th, 2010
Home buyers thinking of purchasing a distressed property in need of repair, but who are concerned that the cost of the repairs could drain their savings account may qualify for the Federal Housing Administration’s (FHA) 203(k) rehabilitation program.
MAKING SENSE OF THE STORY FOR CONSUMERS
- The FHA’s 203(k) rehabilitation program provides loans for covering renovation costs as well as the purchase price of the primary residence. Investors are not eligible for this program. Additionally, similar to traditional FHA loan programs, the rehab program allows for a down payment of as little as 3.5 percent.
By admin, on November 1st, 2010
Major banks and mortgage lenders are coming down with another legal headache in their efforts to seize properties from homeowners in default.
Read the full story: This is a preview of Mortgage database’s murky legal status adds another wrinkle to foreclosure mess . Read the full post (233 words, 7 images, estimated 56 secs reading time)
By admin, on October 18th, 2010
In late September and early October several major lending institutions began voluntarily halting foreclosures in select states while they reviewed their foreclosure processes. This action is in response to findings that questioned whether some lenders/servicers were following the correct procedures to foreclose on a property.
MAKING SENSE OF THE STORY
- To date, Bank of America is the only lender that has extended its foreclosure moratorium to California, where the vast majority of foreclosures are conducted without a court order.
This is a preview of California to join multistate inquiry of foreclosures by banks . Read the full post (454 words, 7 images, estimated 1:49 mins reading time)
By admin, on October 11th, 2010
Sales of existing, single-family homes are expected to decline slightly in 2010 compared with 2009, but are forecast to rise slightly in 2011, according to the CALIFORNIA ASSOCIATION OF REALTORS®’ (C.A.R.) “2011 California Housing Market Forecast.” Meanwhile, the median price of homes in California is expected to increase both in 2010 and 2011 compared with the year prior.
MAKING SENSE OF THE STORY FOR CONSUMERS
- Following near record-high levels of year-over-year sales increases, home sales are expected to decline 10 percent in 2010 compared with 2009, according to the C.A.R. forecast. C.A.R.’s economists predict home sales will increase 2 percent in 2011 compared with 2010.
This is a preview of California REALTORS® forecast slight rise in 2011 home sales . Read the full post (451 words, 7 images, estimated 1:48 mins reading time)
By admin, on September 20th, 2010
A team of Oakland developers wants to turn a historic industrial building into a waterfront hub for local winemakers. The proposed location is the 90,000 square foot 9th Avenue Terminal currently owned by the Port of Oakland. Currently there is a debate between the developers and the city over the rent.
“The setting is really beautiful combined with a unique destination in Oakland,” said Stuart Rickard, principal of Placeworks and partner of Ninth Avenue Terminal Partners LLC. The other partners are Tom McCoy and Morris Wright of Chabot Properties and architect Steve Worthington.
By admin, on September 10th, 2010
Affordable home prices and historically low interest rates have created an ideal situation for many qualified first-time home buyers to purchase a house. Despite this opportunity, some buyers may be overconfident and make mistakes during the home-buying process.
MAKING SENSE OF THE STORY FOR HOMEBUYERS
• Some first-time buyers are unaware of the vast amount of paperwork and negotiations that go into purchasing a home. As a result, buyers may think they can save money by forgoing the use of a REALTOR®. However, managing the nuances of offers, inspections, financing, and other pivotal steps when buying a home often causes confusion and anxiety for buyers. In addition, in the San Francisco Bay Area is it standard for sellers to pay comission. So you the buyer would be able to utilize the services of a Realtor without having to pay comission.
By ediamond, on July 23rd, 2010
There’s no better time to evaluate the condition of your home and property than summer. If you are thinking about selling in the fall, be sure to write a checklist of items that potential buyers will notice.
Here’s a start on that list:
- Roof and gutters
- Foundation of your home
- Doors and windows
- Caulking
- Gates and fences
- Weather stripping
- Exterior painting
- Siding
- Water leaks
- Wooden decks
- Concrete patios, driveway and walkways
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On Tuesday, U.S. bank regulators submitted a proposal that would require lenders to originate mortgages with at least a 20 percent down payment if they want to repackage the loan to sell to other investors without keeping some of the risk on their books. The bank regulators say this would create strong incentives for responsible lending and borrowing.
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