1. Fannie Mae and Freddie Mac raised limits “late” in the game and the sub-prime could not have done the damage it did had they entered sooner..some say…what about you?
2.Is it good to refinance now and lower the cost of your mortgage?400Thousand have been helped
3. If you have a high debt to income ratio will that hurt or help? The government ways if it helps you then you have to share in the profit with the gov when you resell it.
3. First time home buyer tax credit of 7500? NO-It is a zero % loan and it has to be paid back.
4.Immediate new deductions on property taxes?
5. Is 2010 or 2111 the year of the pick up for Real Estate?
6. Will there be 10 years of unparalleled growth?
7. Can you get a loan?
8. Is California ahead or behind the curve?
9. Have you found a Realtor on Linkden or Facebook?
California facebook Fannie Mae Freddy Mac lenders linkden loan refinance. buyer tax credit sales subprimeI like writing and sometimes post to Active Rain (where I started blogging) it’s like going to my old home town. I really feel like I know so many people there. I write to speak to people- Realtors, lenders, designers are the main authors. I get the feeling right away of speaking in a group. In wordpress I am speaking to a group but it takes a little longer before I hear the responses of people reading. I should say…..I could say what do you want to hear?
People want to know when they should buy. They want the truth. There is a time to buy and a time not to buy for each person. It is individual, so unique that it is an experience that you can best understand by looking into the mirror of your own past. When did you buy?Why did you do it? Were all the key factors there that people ask about? Best price, best interest rate? In my experience NO, NO, NO. My first home. We were wanta-have a home people. I had stopped into a real estate office and said to a Realtor-mother of a boy in my daughters class. We went over our numbers very briefly and the price of home we could afford was so low that nothing in the area would work. Homes were selling for 60K and we were in the 40 K range. It was 1976 for those either laughing or in awe. A few weeks later I got a call. There was a lady selling her home for 45K this one weekend only. If she didn’t get it then she was giving it over to a group that paints carpets and jacks up the price. We bought it that day. Our parents each kicked in 5K and we became homeowners. We had a Cal Vet loan around 8.2 % Our monthly payments went from renting at 175. to 325. It was so much money to us that we were careful about not spending for anything other than essential. And in a few months it started to feel like normal. In 1984 we bought again. The only time we bought a home we didn’t love. We felt rushed, and as a realtor I never want anyone to make those 2 big mistakes. 3 years later it was hard to sell. It was bought and sold in the 350 range. 1986 we bought at the beach. Ocean view and 550K. I don’t remember the interest rates of either of the homes. Finally I have to say we made all the really big money we ever made in buying homes and keeping them. We did sell the first 2 and I wish we had kept the first one. Thats why I really ask deeply, can you keep this home and rent it out? It is our new social security. We can retire and have a passive income. I don’t own apartments, just homes. We are really careful and caring of the properties. The time to buy was when our family needed to buy. We had a good reason. We were led to the right house after we learned to wait and listen. That skill I take with me to help others over the hurtle of home purchase. Right time is always relative.
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