Category

Financial news

Feb 14
0

The Stimulus Package!

By | Buyers, Financial news, Sellers, Sonoma County info | No Comments

That’s the buzz word right now! It will be extremely beneficial for our local real estate market. As we discussed in our office meeting this morning, the most interesting part will be that the ‘conforming’ loan limits will go up but even more important, that the loan limits for FHA loan programs will go up.

Hmm for many agents …. FHA… let me think, that was a long time ago that we would even do these loans in Sonoma County, the current loan limit is around $ 380,000. Yep, but it’s going to be good, FHA (Federal Housing Administration) allows for 97% financing, it can be combined with gift funds (Nehemia program) and is very lenient with your credit score and the best part… the rates are great!

This increased limit for FHA loans might take an other month or before it can be used by lenders but it’s good news.

I am not going to repeat the stimulus program, please visit the info on the CAR website or  this link to Inman News

An by the way… there are some tremendous deals out there right now, this property at 421 Manka Circle for $349,900 is one of them.

Have a great day!

Mirjam de Rijk Mirjam (mirjam@c21alliance.com)

Nov 30
0

Real Estate is a good investement!

By | Financial news, RE Investing, Sonoma County info | No Comments

No matter what the newspapers are telling: today is a good day to buy and sell real estate.

This morning’s paper had a small article about something what I have been trying to tell all my clients and anybody who wants to hear it: Strange but true: Real estate good investment now.

The article is about Real Estate Investments Trusts, more interesting for investors. However, with the home prices at the level where they are at right now and the rents tending to go up, it is a great time to either move up or stop renting and buy a home. Recently we did a rent versus own comparison and it did bring out an interesting fact for a lot of situations: If you keep on renting you will end up spending more per month.

And for the investors among you: if the rent versus own tips over in favor of the home owner, guess what that means if you are the landlord… that monthly rent check will bring cash flow!!!

And there are still some good loan programs out there, you’d be surprised!

Have a great day.

Mirjam – 707-486-2638

Nov 23
0

Gen Y, who are they and how to we sell to them?

By | Financial news, Sonoma County info | No Comments

We hear about the “Baby Boomers”, the “Gen X and Y ” and the “Millenniums”….what does this have to do with the future of mortgages? In the latest issue of the Mortgage Bankers Association (MBA) newsletter we learn that Gen Y will set the pace for the upcoming decade by their buying habits. Michael Murphy tells us….

“Financial institutions see Generation Y—a tech-savvy age group ranging from 15 to 29 in age—as a potentially lucrative but also more traditional demographic than previous generations, with nearly 80 million consumers and an overall annual income of more than $200 billion.”

Gen Y worries about their financial future because of tensions in job security, social security and future retirement, but in a recent Deloitte/Harris study showed only 31 percent of eligible Gen Y employees participate in 401K plans.

The Javelin Strategy & Research study showed Gen Y as more traditional in financial activity. In Javelin’s study of 2,800 consumers, it showed Gen Y as not ready to abandon the brick-and-mortar channels of financial institutions despite the group’s proclivity to initiate online transactions and use mobile phones.

When selecting a new financial services provider, Gen Y consumers ranked access to ATMs and access to branches as more important than online service capabilities, in comparison to other age groups, according to Javelin’s data. In the past 12 months 80 percent of older Gen Y used an ATM for either a deposit or withdrawal, nearly 60 percent used an automated telephone system to perform a banking transaction, and 90 percent visited a branch, demonstrating an apparent demand for multi-channel availability.

So what does this tell us?? If we are going to be successful in selling to this group we will need to provide a full array of avenues for them to contact us….not just new technology but the ole’ fashion “let me help” you “in person” sort of way.

Denise

Nov 22
0

More about foreclosure

By | Financial news, Foreclosure, Mortgage, Sellers | No Comments

On the bottom of this page (scroll down) you will find the announcement for the Smart Home Choices Workshop.  If you are interested in real estate and want to know more about the financial aspect, you are cordially invited to come. The program is going to be great! You can register online.
Somewhere I read the 70% of all the people that went into foreclosure never talked to their lender to see whether they could arrange a solution. It’s the fear, the shame, name it. Whatever it is, I think it’s also because of lack of knowledge. – The Smart Home Choices Seminar will be educational!  However, there is a company that is there to help home owners  to keep their homes. Lowering the interest rates is not the only solution.

hpf_logo.gif This company is called HOPE, it stands for Homeownership Preservation. It’s good to know about companies like these. In our area, Redwood Credit Union will alway refer you to HOPE.

Foreclosure is not a good solution, it’s the last solution. There are many alternatives that should be tried first.

Of course, should you have any questions, don’t hesitate to contact Denise or me.

  Have a great day!

mirjamnew.jpg    Mirjam

Sep 30
0

Rates to know this week….

By | Buyers, Financial news, Interest rates, Sonoma County info | No Comments

Rate & Market Update

September 28, 2007

This update is provided as a service to my Realtor and Affinity-Partners as a means of obtaining legitimate current interest rates. Rates
are quoted as a range due to variations in purchase price, loan amount, LTV, SRP, subordinate financing, escrow waiver, lock period,credit score, asset reserves, job history, etc. Rates quoted are based on FNMA and FHLMC national averages.

Due to the Internet and other available public information our clients have greater access now than ever before to interest rate quotesand mortgage financing information in general. More information makes for more knowledgeable clients and that benefits everyoneinvolved. My greatest concern recently has been the amount of inaccurate information that our clients have to wade through and that sometimes lures them into situations that cause great hardship for them and all parties in the transaction.The information below is intended to be a tool that allows you to more confidently submit contract offers and give your clients an idea of real market interest rates. Rates are subject to change, even during the same day. Please contact me to get the current interest rate.

Conforming Fixed Rate FHA Jumbo Fixed Rate

6.125% @ .875 pt(s).

to

6.25% @ 0.375 pt(s).

6.25% @ 1.0 pt(s).

to

6.5% @ 1.125 pt(s).

Call for Pricing

1-Year ARM Conf. 3/1 Fixed to ARM Conf. 5/1 Fixed to ARM

Call for Pricing

5.625% @ 1.0 pt(s).

to

6.375% @ 0 pt(s).

5.875% @ 1.25 pt(s).

to

6.5% @ 0 pt(s).

Conf. 7/1 Fixed to ARM Jumbo 3/1 Fixed to ARM Jumbo 5/1 Fixed to ARM

6.0% @ 1.25 pt(s).

to

6. 5% @ 0 pt(s).

6.625% @ 1.125 pt(s).

to

7.875% @ .375 pt(s).

6. 75% @ 1.25 pt(s).

to

7.125% @ 0 pt(s).

Jumbo 7/1 Fixed to ARM VA CHFA

6.5% @ 0.5 pt(s).

to

7.0% @ 0.125 pt(s).

Call for Pricing

Call for Pricing

Stated Income 100% Financing 95% Jumbo Fixed

6.125% @ .875 pt(s).

to

6.375% @ 0.125 pt(s).

100% LTV

Stated Value

*Call for Rates!

Call for Pricing

Market Commentary

(707) 528-2600, ext. 1264

(800) 800-8412, ext. 1264

Cell: (707) 694-6826

dbeeson@cal-bay.com

*CalPERS Certified

Denise Beeson

Stock futures suggest a bit of profit-taking today even though there is some good economic news. The market is focused on thef act that the core PCE deflator – the Fed’s favorite inflation measure – was up just 0.1% for August. That was in line with expectations, but is still a very good number. Further good news comes from the less noticed solid gain in personalconsumption expenditures of 0.6% (also 0.6% after inflation adjustment). This follows a solid 0.4% gain in July. Personal consumption expenditures make up over 70% of GDP, and these two good gains at the start of the quarter will assure a decent third quarter GDP number. The market is very focused on economic data as recession concerns persist. The next really big economic release will be the September employment data a week from today. Even so, the market tone is stabilizing.

-Briefing.com