In a surprise decision, FHA waived the 90 day rule for FHA loan customers to be able to buy a flipped home.  Prior to this decision, FHA buyers were left out of the market for homes that have been rehabbed and put on the market.
Best to you,
Mark and Kari Shea
Real Estate Experts Serving San Diego […]

The US Census Bureau released some statistics in the last week related to the trend of people moving.   Here is what it stated:

The residential “mover rate” is the lowest ever since the Bureau started tracking the information in 1948.
The number of people who changed residences dropped by 3.5 million from 2008 to 2007.
Renters are 5 […]

People think the government will regulate mortgage rates to keep them low forever.  In reality, inflation will start to catch up with government economic spending.  Once that happens, all of the current rules go out the window and the Frd will have to raise rates.  In our opinion, we have approximately 1 year before the […]

For all first time home buyers, click here for a link where you can get all of your questions answered on the $8,000 home buyers tax credit.
We hope this helps,
Mark and Kari Shea
San Diego Real Estate Experts
Foreclosure, Short Sale & Investment Specialists,
Development Opportunities & Traditional Real Estate

One thing is for certain, it is getting more difficult for buyers to obtain a home loan to purchase real estate.  What are the key ingredients in being able to close a home loan today:

 Good to excellent credit scores - that means 625 plus with BK or other issues
Cash for down payment - FHA Loan […]

Dear readers,
When you are looking at buying Real Estate today, they whole question boils down to one thing…what is my motivation.
Below are some reasons to buy:

Prices are more affordable than ever.  How long do you plan on staying in the home?
More first time buyers are purchasing to take advantage of tax benefits
Many homes to choose […]

As prices and interest rates fall, the Affordability Index goes up.  The Affordability Index = The percent of households that can afford to buy an entry level home.
Right now 59% of California households can afford an entry level home.  This is up from 33% a year ago according to the California Association of Realtor statistics.  […]

So much about the stimulus package and tax credits.  Here is the final scoop on the tax credit available to home buyers:
With President Obama signing the stimulus package yesterday, there is a brand new version of the tax credit for home buyers.   Here are some highlights:

You no longer have to pay back […]

If you are buying a condo or a townhouse, it may be impossible to get a loan if more than 10% of the owners are late on their HOA dues.
Check this first, make an offer second.
Mark and Kari Shea
San Diego Real Estate Experts
REO, Short Sale & Investment Properties,
Development Sales & Traditional Real Estate

Everyone is talking about the Federal Stimulus Package that is currently in existence for the $7,500 tax credit and the $15,000 package that was just passed by the Senate and now goes to the House for approval.  They are different plans with different requirements.  The $15,000 Federal Stimulus Package is a tax credit that […]