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Buying a Home with a Pool

Talking Points … As the weather heats up, some home buyers may be considering purchasing a home with a pool. If a home that is in foreclosure has a swimming pool that has been neglected, it’s possible that it’s hiding years of neglect,

How to be the most attractive home buyer

Source: Fox Business News As home prices continue to recover and interest rates remain at near-record lows, many houses are receiving multiple offers and to win the bid, buyers need to stand out from the crowd. According to the CALIFORNIA ASSOCIATION

Home Warranties Have Limitations

Talking Points … Some sellers wonder whether it is necessary to offer a home warranty, especially when inventory is low like it is currently. The biggest advantage of a home warranty – which covers breakdowns in major systems – is that

Lenders venturing back into subprime market

In its most-recent foreclosure report, CoreLogic reported 55,000 homes were lost to foreclosure in March, up 6 percent from 52,000 completed foreclosures in February. Read the full story

Some homes are slow to sell even in the hottest markets

Source: Los Angeles Times With full-fledged sellers’ markets underway in dozens of metropolitan areas around the country, new research has found curious statistical patterns emerging: Even in cities where listings get multiple offers within days

Loan qualifications for retirees

Source: The New York Times Retirees trying to obtain a mortgage may find that a pristine credit history and healthy retirement accounts are not enough. Lenders also are looking for a consistent monthly income in line with their usual debt-to-income standards.

The Road Back to Homeownership after Foreclosure or Short Sale

Talking Points … Some former homeowners who lost their houses to foreclosure or sold their homes via short sales are beginning to wade back into the housing market. However, some credit concerns due to these events are causing concern for would-be

Housing affordability falls across state

Source: Daily News During the first quarter, 44 percent of buyers could afford a median-priced home costing $350,490, down from 56 percent a year ago, the CALIFORNIA ASSOCIATION OF REALTORS® reported. Affordability was down from 48 percent in the

Fed: Some borrowers shortchanged in foreclosure settlement

Source: Los Angeles Times Nearly 100,000 troubled borrowers were shortchanged on payments from Goldman Sachs Group Inc. and Morgan Stanley & Co., the Federal Reserve said – money intended to compensate for possible errors and abuses during foreclosure

California home prices soar in April

Fueled by high demand and tight inventory, California home sales and prices both experienced strong increases in April, with the median price surpassing the $400,000-mark for the first time in five years, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.)

Lender Fees - Watch Them Carefully

Talking Points … In addition to a down payment, borrowers also have to set aside money for closing costs, which can run into the hundreds or sometimes thousands of dollars. Lenders charge all manner of fees, some of which are negotiable, while

Fee-laden FHA mortgages cost more than privately insured loans

LA Times: On April 1, fees for low-down-payment mortgages insured by the Federal Housing Administration (FHA) rose for the third time in two years. The hike in fees serves a two-fold purpose: to help shore up the FHA’s sagging mortgage insurance

California Attorney General awards $9.4 million in grants to assist Californians affected by foreclosure

Attorney General Kamala D. Harris recently announced California’s National Mortgage Settlement Grant Program has awarded $9.4 million to 21 organizations in order to assist Californians affected by the state’s foreclosure crisis. The grants

Bidding Wars are Back!

Talking Points Bidding wars are back, and while not every local real estate market is experiencing bidding wars, some home buyers find themselves competing for houses because there aren’t many for sale in their neighborhood. To compete in a bidding

Bank of America tops list of mortgage complaints by borrowers

Los Angeles Times The lender has accounted for 30 percent of complaints to the Consumer Financial Protection Bureau, with two-thirds of them involving modifications. Read the full story
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