Chino Hills Real Estate Blog

Buying a Home with a Pool

Gail Griffin, GRI, e-PRO — Fri, 17 May 2013 20:50:00 GMT

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,...(read more)

More homeowners can get mortgage reduced

Gail Griffin, GRI, e-PRO — Fri, 17 May 2013 20:48:00 GMT

Source: San Diego Union Tribune Chase and Wells Fargo are the latest two banks that have agreed to slash mortgage balances as much as up to $100,000 for certain clients through the state program Keep Your Home California. Read the full story...(read more)

How to be the most attractive home buyer

Gail Griffin, GRI, e-PRO — Fri, 17 May 2013 20:43:00 GMT

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...(read more)

Home Warranties Have Limitations

Gail Griffin, GRI, e-PRO — Fri, 17 May 2013 20:37:00 GMT

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...(read more)

Lenders venturing back into subprime market

Gail Griffin, GRI, e-PRO — Fri, 17 May 2013 20:36:00 GMT

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...(read more)

Some homes are slow to sell even in the hottest markets

Gail Griffin, GRI, e-PRO — Fri, 17 May 2013 20:34:00 GMT

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...(read more)

Loan qualifications for retirees

Gail Griffin, GRI, e-PRO — Fri, 17 May 2013 20:31:00 GMT

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....(read more)

The Road Back to Homeownership after Foreclosure or Short Sale

Gail Griffin, GRI, e-PRO — Fri, 17 May 2013 20:26:00 GMT

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...(read more)

Housing affordability falls across state

Gail Griffin, GRI, e-PRO — Fri, 17 May 2013 20:25:00 GMT

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...(read more)

Are mortgage modification terms worth continuing payments?

Gail Griffin, GRI, e-PRO — Fri, 17 May 2013 20:21:00 GMT

Source: Los Angeles Times A high percentage of homeowners who take part in the Home Affordable Modification Program are unable to maintain their loan mods, data from the Treasury Dept.’s Trouble Asset Relief Program shows. Read the full story...(read more)

Fed: Some borrowers shortchanged in foreclosure settlement

Gail Griffin, GRI, e-PRO — Fri, 17 May 2013 20:20:00 GMT

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...(read more)

California home prices soar in April

Gail Griffin, GRI, e-PRO — Fri, 17 May 2013 20:13:00 GMT

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.)...(read more)

Lender Fees - Watch Them Carefully

Gail Griffin, GRI, e-PRO — Sun, 28 Apr 2013 16:15:00 GMT

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...(read more)

Fee-laden FHA mortgages cost more than privately insured loans

Gail Griffin, GRI, e-PRO — Sun, 28 Apr 2013 16:13:00 GMT

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...(read more)

FTC finds an estimated 25.6 million Americans fell victim to fraud in 2011

Gail Griffin, GRI, e-PRO — Sun, 28 Apr 2013 16:06:00 GMT

The Federal Trade Commission has released a statistical survey of fraud in the United States during 2011, which showed that an estimated 25.6 million adults – 10.8 percent of the adult population – were fraud victims. While fast-growing online...(read more)