HGTV’s “My First Place” is Looking for First Time Homebuyers in the Bay Area

Posted In: First Time Home Buyers, For Buyers, General Real Estate News
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I was just contacted by HGTV’s “My First Place” to see if there are any first time homebuyers out there interested in a unique opportunity.  Here is the 411: BUYING YOUR FIRST PLACE? Then HGTV is looking for you! MY FIRST PLACE, HGTV’s hit series, is coming back for an eighth season and we’re looking for first-time homebuyers (and their [...]

So Much for the Move-Up Tax Credit

Posted In: First Time Home Buyers, For Buyers, For Sellers, Foreclosures & Short Sales, General Real Estate News, Taxes
There is so much mixed feelings about the market right now.  In the Berkeley and surrounding areas, one street is seeing multiple offers and the next isn’t.  The number of foreclosures has gone down drastically, although most buyers think there are buckets of bank-owned homes ready to come on the market.  I don’t think this is the case. No wonder buyers and [...]

Qualifying Factors For FHA and Fannie Mae Loans Are Changing Dec. 12th

Posted In: First Time Home Buyers, General Real Estate News, Mortgage & Finance
I am getting many updates from my favorite mortgage brokers about the changes to the qualifying factors that are about to come on Dec. 12th to the Fannie Mae and FHA world.  I am also receiving updates from mortgage brokers I don’t have contact with, and some of the updates are inaccurate.  To spell out the changes, here is what one [...]

Weekly Interest Rate Overview

Posted In: First Time Home Buyers, For Buyers, Mortgage & Finance
Current Indices For Adjustable Rate Mortgages Updated November 13, 2009 Daily Value Monthly Value 6-month Treasury Security 0.16% 0.16% 1-year Treasury Security 0.32% 0.37% 3-year Treasury Security 1.36% 1.46% 5-year Treasury Security 2.28% 2.33% 10-year Treasury Security 3.45% 3.39% 12-month LIBOR 1.234% (Oct) 12-month MTA 0.544% (Oct) 11th District Cost of Funds 1.272% (Sept) Prime Rate 3.25% (Dec) Looking for [...]

First time homebuyer tax credit extended and expanded!

Posted In: First Time Home Buyers, For Buyers, For Sellers, Taxes
Home buyer tax credit extended, expandedSan Francisco Business Times – by Kent Hoover   The House of Representatives passed legislation Thursday that would extend and expand the tax credit for first-time home buyers. The provision was included in a bill that also extends unemployment benefits by an additional 14 to 20 weeks and lets all companies, not just small businesses, [...]

Rate Watch Week of Nov. 2

Posted In: First Time Home Buyers, Mortgage & Finance
Rates moved up slightly again in the past week. Freddie Mac announced that for the week ending October 29, 30-year fixed rates averaged 5.03%, up from 5.00% the week before. The average for 15-year fixed rose to 4.46%. Adjustables were also up slightly with the average for one-year adjustables rising to 4.57% and five-year adjustables increasing to 4.42%. A year [...]