Recent Posts

Short sales routinely show up in credit reports as foreclosures

Source: Los Angeles Times Large numbers of homeowners who have negotiated short sales are at risk because of a startling omission in the credit system. Their credit reports and scores indicate that they were foreclosed upon, rather than having negotiated a mutually agreeable resolution with their lender, and the Federal Trade Commission and the Consumer […]

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California Home Prices Soar in April

Source: The Californian 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.) reported.  The statewide median price of an existing, single-family detached home climbed 6.3 […]

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Sellers are Favored in San Diego Housing Market; strange shift that we haven’t seen in years!!!

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FHA to Hike Premiums on Mortgages

The Federal Housing Administration, which is the largest insurer of low-down payment mortgages, announced last week that it will raise premiums by 10 basis points, or 0.1 percent, on most of the new mortgages it insures. A borrower opting for a 30-year, fixed-rate mortgage who puts down 5 percent or more will now pay an […]

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Housing to drive economic growth (finally!)

Just over half of economists surveyed by CNNMoney identified a housing recovery as the primary driver of economic growth this year. The bursting of the housing bubble plunged the economy into a recession from which it has yet to fully recover. But economists say this could finally be the year that housing lifts us out […]

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Good News for Under Water Borrowers & Short Sellers

Late last night, Congress reached a settlement in the “fiscal cliff” negotiations. As a result, the Mortgage Forgiveness Debt Relief Act has been extended for another year. The measure will continue to exempt from taxation mortgage debt that is forgiven when homeowners and their mortgage lenders negotiate a short sale, loan modification (including any principal […]

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Changes are in store for FHA…

Changes to FHA guidelines with stricter criteria will limit many First Time Homebuyers, as well as, any buyers looking to get back into the housing market that have had a previous foreclosure. Stricter quidelines include raising the bar regarding credit scores. FHA will soon require a minimum FICO of 620; currently FICO scores considered as […]

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Luxury Downtown San Diego Condos are Flying off the market!

Here is just a sneak peak of the recent solds – The Grande North – $1,000,000 The Grande South – $965,000 Sapphire Tower – $1,200,000 Pinnacle Musuem Tower – $1,060,000 Bayside – $1,225,000 Park Place – $1,200,000 The Metropolitan – $1,200,000 Harbor Club $1,100,000

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Low Inventory is Keeping the Market very Competitive in Southern California

Favorable home prices and record-low interest rates combined with high demand and a severe shortage of available housing have created a highly competitive housing market in California, with nearly six in ten home sales receiving multiple offers, according to the CALIFORNIA ASSOCIATION OF REALTORS®’ (C.A.R.) “2012 Annual Housing Market Survey.” More than half (57 percent) […]

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Number of Lower Priced Homes Plummet in Southern California

The number of low-price homes plummets in state; Competition for lower-priced homes in California is so hot that the number of cheaper homes available for sale has sunk more than 40 percent in the last year, pushing out many would-be buyers. We are experiencing high demands with low inventory and Multiple offers on the lower […]

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