There is a new buzzword being used in today's real estate market, that term is Short Pay Refinance. Most of you have not heard about this. It is a new approach were a new lender negotiates on your behalf with your current lender to pay less than the full amount for the pay off of the existi...
Straightforward and intuitive... this website is for anyone buying or selling homes and real estate in Davis, Woodland, Winters or anywhere in Yolo County, California. Explore! Ask Real Estate or community specific questions. More than powerful tools and valuable information for Buyers and Seller...
Carmen Isais - Realtor Keller Williams, Davis My work philosophy is simple. I approach each transaction with dedication, integrity and a sense of humor. The latter always comes in handy. Those who have ultimately decided to work with me, know me to be a good listener, a sage advisor...
| ~Fantastic opportunity for that Unique Davis Home – This house borders the Greenbelt on 2 sides and sits at the end of a very peaceful and mature Cul-De-Sac in desirable North Davis. Parks, Stores, Busline and More just a short walk or bike ride away- Open floor plan with an incredible indoor swimming pool! This is a perfect home for entertaining! A must see if you are looking for something just a little different and something very special! |
3 Bedrooms
2 Bathrooms
1,780 Est. Sq. Ft.
![Reblog this post [with Zemanta]](http://img.zemanta.com/reblog_e.png?x-id=57380ca7-1be1-4c54-afe6-40e03ae7e3d3)
Green remodeling can save you money on utilities, increase the resale value, and provide a healthy, environmentally conscious home. The following quotes are from an article in the September 2008 issue of California Real Estate. Mike Hall, president and CEO of Berkeley-based solar company Borrego Solar was quoted as saying,
“For every 1,000 watts of power in a home that’s coming from PV (photovoltaic panels), it can add $20,000 to the resale value of your home.”
Chris Bartle of Green Key Real Estate was quoted,
“If you’re comparing [green building] to a super-cheap Home Depot remodel, then yeah, it’s more expensive,” he explains. But if you’re comparing it to a high-end remodel with granite counter tops and things like that, then a lot of times it’s actually cheaper.”
The opening of “Green” building supply companies is evidence of the increasing popularity of Green remodeling. Davis has it’s own eco-friendly home improvement store called Casa Verde. There are also recycling options for building materials. Sacramento’s Habitat for Humanity has a building supply store called the ReStore offering surplus building supplies donated to the store and sold at discount prices. Another web-site resource is www.thereusepeople.org. They are a non-profit organization that provides environmentally responsible demolition services and sells reusable building materials.
If you would like more information on green building and learn about the “GreenPointed Rated” system, check out www.builditgreen.org
First time home buyer programs are designed to help borrowers who may not have enough money to pay the full cost of the down payment or the closing costs on a mortgage. These programs make obtaining a mortgage more cost effective. There are even programs specifically for residents of each state. First time home buyer programs are available to those who have not owned a home for the past three years.
Generally the programs will have a step by step guide to get you thru the process of home ownership.
Some First Time Buyers Programs require as little as 3% down.
Some local First Time Home Buyer programs offer down payment assistance. To be eligible, applicants’ household incomes must not exceed an amount set by the program administrators. These income limits are usually calculated by multiplying the Area Median Income with a percentage (e. g. 110% of the AMI). The program administrator may place a lien on the home to prevent the homeowner selling the property for profit shortly after settlement. Such liens usually dissipate after 5 to 10 years.
First time home buyers may also have other advantages such as discounted transfer tax. Check your local and state regulations to see what benefits you may qualify for, make sure your mortgage professional is aware that you are a first time home buyer.
Some of the advantages define a first time home buyer as a borrower who has not owned a home in the past three years, others require that the borrower has never had any interest in any property.
A large amount of first time home buyer programs are FHA. Be prepared to spend a few hours in class so you can get a certificate stating your eligable.
Many other first time home buyer programs require that you either take a course or do a self study program with a workbook to learn about the responsibilities and financial obligations involved with owning a home. Even if these programs are not required by your lender or broker if is a good idea to do them anyway. Talk to your broker they can get you the information about when the classes are or provide you with a work book. Many of these courses and workbooks are provided through a PMI Company.
You may find that there are some mortgage loan programs, usually ones that the lender has a higher perception of risk, that are not available to first time home buyers.
A first time home buyer is considered somebody who has not owned a home in the last three years.
A numerous amount of people are eligble for for a first time buyer mortgage. Usually if you have never owned a home you are able to receive a first time buyer mortgage, in some states there are programs for first time buyers where a percentage of there closing cost are paid.
There are several first time home buyer programs where an entity can help provide the down payment for a home. There are usually certain income requirements to qualify for these progams.
First Time Home Buyer loan programs are often referred to by the acronym FTHB
There are many loan programs which allow First Time Homebuyers. Some may have stricter guidelines to qualify but in general are easy to qualify for.
To be a 1st time home buyer you can not be a home owner.
-Darin Zabel
530.753.5657
Posted by Darin Zabel
For the first time in California’s history, foreclosure sales exceeded 1,000 properties per day in April, according to a report released Tuesday afternoon. Foreclosure sales at auction — the last step in the foreclosure process — jumped 44 percent in April to 22,838 sales, representing $9.45 billion in combined loan value, according to foreclosure data firm ForeclosureRadar.
The vast majority of properties sold at auction received no third party bids, despite ever-increasing discounts from lenders anxious to prevent further build-up in REO inventories.
Average discounts at auction hit 25 percent in April, ForeclosureRadar said, but nearly half of all properties taken to foreclosure sale even offered discounts of 30 percent or more from the current loan balance. The majority of these loans were 80 percent LTV first mortgages, making discounts of 40 to 50 percent from the prior sales price common in many parts of the state — and yet, almost nobody bid on the properties, forcing lenders to add to their already bloated REO books.
The largest discounts offered in major Southern California counties were in luxe Santa Barbara, where properties auctioned off at a 29 percent discount, and Riverside, where the discount averaged 28 percent for the month. Even Orange County — home to such glitzy locales as Newport Beach and Laguna Beach — saw lender bids at foreclosure sales average 21 percent less than the amount originally owed.
“We expected a significant increase in auction sales based on previous default patterns,” said Sean O’Toole, founder of ForeclosureRadar. “Unfortunately, the continued increases in defaults tell us that the worst is still ahead.
“It is time for lenders to accept this reality, and start approving short sales rather than forcing more than two-thirds of troubled homeowners through the entire foreclosure process.”
New borrower defaults, referenced by filings of Notices of Default, increased slightly from March’s numbers to set another new record high, reaching 44,101 new filings during April. Notices of Trustees Sale, issued approximately 3 months following a Notice of Default, jumped 7.8 percent in April — surpassing the previous record with a total of 29,892 new filings.
Lenders added 22,324 properties to their real estate owned inventory in April, ForeclosureRadar said, and are increasing REO on their books an average of 1.36 times faster than they can sell the properties in inventory, O’Toole said. Amazingly, and in a sign that foreclosures are spreading to every part of the state, foreclosure sales nearly doubled in both Marin County — a 96 percent increase — and Orange County, up 82 percent in just one month alone. Orange County posted 1,133 foreclosure auctions during April.
For more information, visit http://www.foreclosureradar.com.
Buying and Selling Your Davis, CA Home with Keller Williams agent Carmen Isais is powered by WordPress and Pandora Creative
Blog (RSS) and Comments (RSS)