The state of California released a $10,000 new home tax credit in mid-February this year.  Since March 1st, one-third of the $100M appropriated had been applied for by new home buyers.  An important fact is a buyer must have an active escrow on a new home in order to apply.
The California Builders Industry Association stated […]

There is a lot of buzz about Loan Modifications and what people can expect.  Here are the basics:
1. Expect them to take 60 to 90 days to receive a Yes or No answer.
2. It is generally better to work directly with your lender than a fee based service.
3. Know that only 5% to 10% of […]

Fannie Mae recently released statistics showing the difficult nature of a Short Sale transaction and how that relates to Foreclosure statistics.
In 2008, Fannie Mae found that for every one short sale that closed, eight homes went into foreclosure.  This speaks to the difficult nature of the Short Sale process and 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 […]

While many people are looking to Washington to “help” them with their current loan situation, many people do not understand the depth of the economic impact on the Real Estate Industry.  An industry that includes:

Real Estate agents, Transaction Coordinators, etc.
Escrow Companies
Title Companies
Service provider like Home Inspection, Termite Companies, Appraisers, Repair Companies, etc.
Home Builders
Trades like framers, […]

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 […]

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 […]

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 […]