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How to Buy a Home After a Foreclosure

Easier Than You Think? Buying a home after a foreclosure may be easier than you think.  During the past 8 years, many thousands of California homeowners fell victim to foreclosure. Bad things happen to good people all the time.  In the aftermath of one of the worst real estate crashes in recent history, foreclosure, short sale, or bankruptcy are a reality that hit many California households. Temporary Setback There is a common misunderstand out there that if you have a foreclosure, you are unable to...

What Falling Oil Prices and a Rising Dollar Mean for You

Two of the most notable economic developments of recent months are the dramatic decline in oil prices and the resurgence in the value of the U.S. dollar against other currencies. Both have an economic impact, which could translate to an investment impact as well. Let’s consider how these two trends might affect the investment markets. Cheaper oil – the pluses and minuses The price for a barrel of light crude oil on the New York Mercantile Exchange dropped from $107.30 on June...

Reinventing Yourself in Retirement

Retirement offers people a great opportunity to start something new. In addition, life expectancy trends indicate that an increasing number of baby boomers should be prepared for a long life in retirement. While this is good news, it also creates a few things to think about: Financial resources may need to extend for a retirement that could last two-to-three decades or longer Healthy, vibrant individuals may not be prepared to “shut down” and enter into a traditional retirement In light of these dual considerations,...

Lower Inventories of Long Beach Condos Causing Bidding Wars

This month is crazy in Long Beach, California.  My clients are experiencing a shortage of Long Beach condos on the market for sale in March 2015.  Currently, there are only 220 condos for sale in the city priced between $100,250 to $1,895,000.  The average selling price is $321,275 for a condo or townhome in Long Beach. 220 Long Beach condos is not a lot for a city of 456,000 residents.  And when I start to break down the price ranges...there tends to be a...

Short Sale Waiting Period Waived if Included in Bankruptcy?

Fannie Mae Guidelines Changes to the waiting periods for mortgage debt that was discharged through bankruptcy took place over the weekend of August 16th, 2014. Boomerang buyers are now able to purchase a home using conventional financing 4 years from the discharge date of a Chapter 7 Bankruptcy discharge, regardless of when the short sale takes place. Confusing Wording One of the biggest challenges we've encountered since this guideline change went into effect, is that the wording does not actually mention short sale, or deed in lieu for...

How to Buy a Home in Southern California

More Competition? The result of "shifts" in the real estate world usually means that there are winners and losers, and almost always more competition to deal with. Depending on if you are a homebuyer, or home seller, this competition will affect you differently, however, the more competitive the market, someone always benefits, and someone always struggles. We are seeing one of those shifts now.  In January 2015, we saw interest rates drop below all of 2014 levels.  This created a great opportunity for...

How to Buy a Home After a Short Sale

Becoming a Homeowner After a financial hardship like having to short sale your home, it's important to know that your next home is within reach. While a short sale will affect your credit score, time heals all credit wounds as long as you make an effort to build good credit, and keep all of your other payments current. Rebuilding your credit, so that you are confident that you will not have similar challenges is the first step. The second step to buying a home after a short...

Smart Homes Save Big Money?

Tech Smart Homes Protecting you from the unexpected is what I do as an Insurance agent.  I recently discovered a "smart" way to do this, at a very low cost. And one of the best ways to safeguard your family and belongings is with a home monitoring system – whether it’s door and window sensors to help deter intruders, or water sensors to help detect leaks. With the advancement of home monitoring technologies, it's now possible to manage your home from a phone or tablet...

2015 Home Buyer’s Advantage in San Diego California

Missing Buyers? Jane Loveday is a local real estate agent in the City of San Diego, and a good friend of mine.  We were having a conversation about buyers and sellers, and how different markets can vary from one City to another. Sometimes, markets can be dramatically different from one community to another, within the same City. The real estate market in San Diego is an interesting one, much different from what I'm seeing in Orange, and Los Angeles Counties.  In San Diego,...

Homebuyer Assistance for Employees of California Title 1 Schools

Not Just for Teachers The State of California offers special homebuyer assistance programs to employees of Title 1 schools throughout the State. The Extra Credit Teacher Program (ECTP) is a deferred payment, silent second mortgage offered by the California Housing Finance Agency. The assistance money from this program can be used to pay for downpayment and closing costs when purchasing a new home. This assistance program is not only for Teachers.  You only need to receive a paycheck from a Title 1 school.  It...

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