Archive for the 'Finance' Category
Video: Buy Now or Wait?
Filed Under categories: Buying, Finance, News You Can Use, Real Estate News
posted by Raye Scott on December 11th, 2009
The Cost of Waiting - Interest Rate Analysis
After many requests to break down the ‘Cost of Waiting’, Craig Sewing created this video as part of his blog, www.mortgagediaries.com.
Craig Sewing is the host of “Save Money San Diego” radio show and is the manager of Benchmark Mortgage Read the rest of this entry »
Who Wins in a Short Sale?
Filed Under categories: Buying, Finance, News You Can Use, Real Estate News, Selling
posted by Francine Finn on May 22nd, 2009
Ask the Expert…
Who Wins in a Short Sale?
Francine Finn interviewed by Fox 5 San Diego’s Arthel Neville on the morning news.
- What is a Short Sale?
How does a Short Sale work?
Why does it take so long?
How vulnerbale is the seller?
Bank Processing Shorts Sales: the new definition of “Incompetency”
Filed Under categories: Finance, News You Can Use, Real Estate News
posted by Francine Finn on April 13th, 2009
“I’m mad as hell, and I’m not going to take this anymore!”
is a famous line that the majority of short sale owners will recall from the 1976 Academy Award winning movie Network. This line keeps playing over and over in my mind when faced with the ridiculously incompetent manner that the American public is forced to be subjected to during the processing of short sales by most of the major banks. Bring the subject up to any realtor and prepare yourself to be inundated by horror stories that will make you nauseous. With few exceptions, so few that none come to mind, the banks are throwing away our hard earned dollars by the millions daily. Read the rest of this entry »
Senate Passes Stimulus Package
Filed Under categories: Buying, Finance, News You Can Use, Real Estate News
posted by Francine Finn on February 16th, 2009
In addition to all the “pork” that we were never supposed to have with our newly elected officials, there are actually some items that could help citizens of California & the country over all contained in the ‘AMERICAN RECOVERY AND REINVESTMENT ACT’ now awaiting President Obama’s signature.
As a member of the California Associate of Realtors, I received the letter below outlining the benefits that should help get our economy on the road to recovery. Whether you are thinking of buying a new home or condo in downtown San Diego, or throughout the county or state, raising the conforming loan limits truly is significant. First time home or condo buyers have been
Read the rest of this entry »
Time To Celebrate…..almost
Filed Under categories: Buying, Finance, News You Can Use, Real Estate News, Selling
posted by Kea Bensen on September 10th, 2008
It’s not time to pop the champagne, but it may ease the jitters felt by millions of homeowners, lenders, realtors now that the Feds have moved forward on a necessary takeover and restructuring of the mortgage giants, Fannie Mae and Freddie Mac.
Treasury Secretary Henry Paulson has organized a well-designed plan for not only placing the companies into the hands of the government for reorganization but
San Diego: Still Want To Rent??
Filed Under categories: Buying, Finance, News You Can Use, Real Estate News, Real Estate Stats
posted by Raye Scott on April 22nd, 2008
When a market changes from a seller’s to a buyer’s market, it’s not uncommon to for sellers to try and rent and “wait it out”, if they can and for buyer’s to rent and sit on the sidelines licking their chops and waiting for “deals”. But, at some point, it becomes self-defeating trying to time that ubiquitous “bottom” and it’s time to get on with it!
Following are some statistics that should every current renter should know before signing another year lease:
Have we hit bottom yet?
Filed Under categories: Buying, Finance, News You Can Use, Real Estate News, Selling
posted by Raye Scott on December 10th, 2007
Timing the bottom (or top) of a market is a probably one of the most difficult and frustrating pursuits. If we knew where the bottom was (or the top) wouldn’t everyone be rich in real estate and stocks? These benchmarks are never revealed in the current time, only in retrospect. It takes somewhat of a distant perspective to locate when and why a bottom was hit or when a high was reached. But, there are signs and indicators the truly savvy investor can look for and react accordingly.
Another key factor to keep in mind if you are buying, is how long you intend to hold the property. At this point in the market, as long as you intend to hold for 3 to 5 years, don’t wait. Make an offer. There’s no magic in another six months. Really, there isn’t, not in San Diego. Might as well get in there and enjoy your new home.
Click here to read “Buyers are looking for market bottom” from The San Diego Union Tribune
Mortgage Crisis
Filed Under categories: Buying, Finance, News You Can Use, Real Estate News, Selling
posted by Raye Scott on August 23rd, 2007
In case you haven’t heard, the media has a new darling. They have taken an issue, albeit a serious one, and transformed it to the status of Armageddon.
I’m not denying the current mortgage situation is creating financial havoc and confusion, but I am suggesting that it is a problem that can be solved and lessons will be learned. Some of those lessons should have been learned the last time by lenders who got sloppy in the underwriting department and consumers who got a little too excited and didn’t quite think things through and plan ahead wisely.
The point is that there was a last time and there will probably be a next time with slightly different circumstances and effects. But, last time was corrected and this time will correct, too.
The following article has some great information and explanation for the current problems most of us are facing in one way or another. Greg Wickstram, with First Capital Mortgage, has written an informative and helpful piece leaving out the hysteria and headline grabbing alarms. It is a factual and balanced piece and I think you will find it helpful. Please let me know your thoughts and comments.
Excerpt from Greg’s ‘Mortgage Market Crisis”
Baby Boomer Tax Break
Filed Under categories: Finance, News You Can Use, Real Estate News, Taxes
posted by Raye Scott on July 3rd, 2007
Have you heard about Revenue and Taxation Code section 69.5?
Well, if you are at least 55 years of age living in a property eligible for this Homeowner’s Exemption or receiving the Disabled Veterans’ Exemption, you are going to want to read on. (You’ll thank me later) Basically, this law allows you to transfer your tax basis on your current residence to a replacement dwelling of equal or lesser value within the same county. This exemption can only be taken one time.
In general, equal or lesser value means that the fair market value of a replacement property on the date of purchase or completion of construction does not exceed 100 percent of market value of the original property as of its date of sale if a replacement dwelling is purchased within one year after the sale of the original property: 105 percent of market value of original property as of its date of sale if a replacement dwelling is purchased within one year after the sale of the original property; 110 percent of market value of the original property as of its date of sale if a replacement dwelling is purchased within the second year after the sale of the original property.