RE/MAX Manhattan Beach Real Estate | Lauren Perreault | Fabulous South Bay
Manhattan Beach, Redondo Beach, Palos Verdes & Greater South Bay Real Estate
Last week, Congress passed a bill raising the FHA upper limit for Los Angeles and other “high cost” areas back to $729,750 and President Obama signed it into law on Friday. However, whereas before the expiration of the upper loan limits, these loan limits applied to all GSE loans including Freddie Mac, Fannie Mae and… Read More
At this morning’s sales team meeting, Grant Norris from RPM Mortgage talked about new loan programs that can get loans of about 5 percent with 5 percent down, and in some cases even lower, more like about 4.5 percent. They have some programs for Jumbo loans up to $979,750 that require only 10 percent down,… Read More
As discussed in this Wall Street Journal article, the FHA loan product that has been a large part of the real estate recovery in Southern California may be changing and not for the better. The current upper end loan limit of $729,750 may expire in October and be reduced back to the previous upper limit… Read More
As discussed in this article from the New York Times, the government’s goal to eliminate Fannie Mae and Freddie Mac may end up making the 30 year mortgage a thing of the past. Because the government assumes the risk associated with the mortgages that have long been provided to the middle class by Fannie Mae… Read More
This news release from the California Association of Realtors (CAR) expresses CAR’s strong support for continuation of the Mortgage Interest Deduction. CAR President Beth L. Peerce said: “A reduced government presence in the mortgage market will raise the cost of homeownership and make mortgages less available. Moreover, Congress needs to understand that during economic downturns,… Read More
As discussed in this article from the Wall Street Journal on Friday, mortgage rates are rising and there is some concern that mortgage availability may be impacted as well. FHA loans may start requiring at least a 10 percent down payment, leaving the days of 3.5% down in the dust. This is a real concern… Read More
Yesterday we talked about Rob Hirt’s presentation about what went wrong. Rob also went through his predictions for this year (about 2/3 correct, but even on the ones he wasn’t right on he was mostly close) and then finally gave us his predictions for 2011: Rob says the shape of the economic recovery will not… Read More
A few weeks ago, I had some very nice young clients come to me who had very little money down and wanted to buy their first home in Southern California. They wanted to buy, but weren’t sure they could afford to buy in our expensive market. After consulting with them, we figured out that they… Read More
Beat the crowd -- get info about properties BEFORE they are listed on the MLS!