Posts tagged as:

Orange County Real Estate

What a Multiple Counter Situation Means to an Orange County Home Buyer

March 29, 2010

You put an offer on a great home, and the response from the seller comes – a counter-offer, marked “MULTIPLE COUNTER OFFER”. What does it mean? What should you do? Well, first of all, don’t panic!

What Does “Multiple Counters” Mean?
Often in today’s Orange County Real Estate market, homes in [...]

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Top 4 Tips for How to be a Successful Home Buyer in Today’s Orange County Real Estate Market

March 22, 2010

It’s a seller’s market market in Orange County Real Estate Today – so here are the top 4 things you need to do to be successful as a buyer against pretty staggering odds.

1. You have to have your Money available
You have to have money for an initial deposit – usually about 1% of the price [...]

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Wells Fargo Joins HAMP Second Lien Program

March 18, 2010

DSNews is reporting that on Wednesday Wells Fargo joined Bank of America to become the second major US bank to participate in the HAMP Second Lien Modification Program.
A Step In the Right Direction
Under the Second Lien Modification Program (2MP), when a homeowner obtains a loan modification on the first mortgage the second lien holder must [...]

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FHA Loan Alternative – 5% Down Conforming on Orange County Homes

March 16, 2010

Robert Collins of Wells Fargo reminded me today that FHA Mortgage Insurance rates are going up. The current up-front premium is 1.5% of the loan amount, but on April 5, 2010 it goes up to 2.25%!
On a $500,000 purchase, that’s an increase in premium from $7,238 to $10,856, not chump change. One new alternative Robert [...]

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Housing Starts Soar To 6-Month High In January… Or Do They?

February 22, 2010

Sometimes, headlines for housing can be misleading and this week gave us a terrific example.
On Wednesday, the Commerce Department released its Housing Starts data for January 2010. The data showed starts at a 6-month high.
A “Housing Start” is a privately-owned home on which construction has started.
Headlines on the Housing Starts story included:

U.S. Housing Starts Hit [...]

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New Programs Aim to Streamline Short Sales

February 19, 2010

The National Association of Realtors issued a press release today detailing efforts they are taking to help make the purchase of Short Sales less frustrating and problematic.
HAFA – Home Affordable Foreclosure Alternatives
HAFA is a Federal program with takes effect in April that is designed to help homeowners complete a Short Sale of their home when [...]

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In Pictures: The Severity Of The Foreclosure Crisis Depends On Where You Live

February 15, 2010

Foreclosures stories dominate the national housing news. It seems at least one foreclosure-related story makes its way to the front page or the nightly news every week.
But for as much as the foreclosure filing statistics can be astounding — over 300,000 homes were served last month alone — the prevalence of foreclosures depends on where [...]

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Orange County Home Buyer Tax Credit Reminder

February 5, 2010

The updated and extended tax credit for first-time home buyers and current homeowners is slated to expire in less than three months. Here’s a recap of the details:

Feature

Original Program

Extension

Deadline

Must fund by Nov. 30, 2009 (WFHM deadline was Oct. 30)

The measure is written differently so that a sales contract must be in [...]

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Previewing The New Good Faith Estimate for Orange County Real Estate

October 23, 2009

The new Good Faith Estimate makes its debut January 1, 2010.
Expanded from 1page to 3, the legislators responsible for the new Good Faith Estimate want it to be simpler for homeowners and home buyers to understand than the former version.
By most accounts, Congress will meet this goal.
The new Good Faith Estimate includes plain-English explanations of every [...]

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