Foreclosures are down by over 2% for the month of June. This could be a good sign if it continues.

With these new developments now may be a great time to get off the fence and buy your new home.

Once the banks see stabilization in the housing market you are going to see upward movement on interest rates.

Last week interest rates went up .25%. That may not seem like a lot but over a 30 year period it is a lot!

If you want to know; how to find bargain properties at rock bottom prices click this link.

If you already own a home and want to know; 7 ways to increase your homes value for under $100.00 click this link.

If you are facing a foreclosure and want to know; the 5 fastest ways to stop foreclosure in 48 hours or less click this link.

Enjoy the weekend and the heat. What a wonderful summer day.

Has it been 6 months since you started looking for your new home?

Why have you not purchased your home yet? Are you a Lookie Lou?

Interest rates are at an all time low!
The selection of affordable homes to choose from is substancial!
This “buyer’s market” where sellers, give many concessions to buyers, is not going to stay around forever!

If you have been looking for six months, or longer, for your home and you haven’t purchased a home you should fire your real estate agent, fire your lender and fire yourself from the home buying process. You really don’t want to have the American Dream of homeownership. The perfect storm for home buying is right now.

Either stop kidding yourself that you want to buy a home or call me today and together let’s find that special home you have been seeking. You can call be right now by clicking the “Call Me” button on the left.

I am currently seeing a shift in the market towards a “seller’s market“. Interest rate have gone up .25% in the past week…that’s a lot however, still very much affordable! The government has started a program to infuse money into banks to help buyers buy their home. Sellers are starting to price their homes where multiple buyers want the same certain homes again. This points to something is a brewing out in the real estate world like multiple offers on the same home buy several buyers.

If you are looking in Redwood City I have a couple of new homes coming on the market within the next 30 days or so. Contact me and I may be able to get you into them before they hit the open market. Here is a link to a home in San Mateo under $650,000.

Stop being a Lookie Lou, you are wasting your time and efforts on something that will only bring you disappointment and despair.

House passes bill to extend tax credit deadline

The U.S. House of Representatives passed a stand-alone bill yesterday extending the closing deadline for the federal home buyer tax credit to Sept. 30, 2010. Backers of the House measure said the 90-day extension would permit tens of thousands of home buyers whose paperwork didn’t clear by June 30 to still receive the credit. Estimates from NAR show as many as 17,700 home buyers in California may not receive the tax credit if the deadline is not extended. The bill now must pass the Senate.

If you have not already enter into an escrow on your home before April 30, 2010 you still will not be allowed you to use this federal home buyer tax credit. I hope you were able to take advantage of this opportunity. This really helps home buyers who purchased a REO or Short Sale home purchase and the banks didn’t have approval to the home buyers by the April deadline date.

Redwood City, CA, So what! What does that mean to me? What the hay how can these interest rates benefit me?

Well let’s take a lovely townhouse in Burlingame just 1.5 from Burlingame Avenueat 119 Primrose Road unit #6. Without going into all the great things about this home what is the money figures on this home, if I invest in it?

119 Primrose Road in Burlingame is currently listed for sale for $619,950. Average rents in Burlingame for 2 bedrooms, 2.5 bathrooms is currently at $2600/month

As a non-owner occupied property the bank will require you to put a down
payment of 30% or $185,985. With current 30 year, fixed rate interest rates being at a historical low 4.375% your monthly principal and interest amount will be $2,166.72! If you add
Property Taxes, HOA dues, and Inside insurance it brings your monthly payment up to $3136. This give a differential of <$536.00>.

However, your depreciation would be approximately $1,315/month plus you get to write off the property taxes just like you do on your own personal resident. So at years end you may be in the positive.

Additional positive aspects would be appreciation and increase in rents over the long haul.

This might just be a good investment you might want to give serious consideration. It could be the
way to pay for your children/grandchildren’s college education in future years.

Obviously, interest rates are not going to stay at these low levels for a long length of time. Act today before this opportunity get away from you. Do it now.

Burlingame, CA, On June 27th I will be bringing a 2 bedrooms, 2.5 bathrooms, English Cottage style, townhouse on the market for sale. This lovely home is a desirable end unit and has updated; painting, flooring, kitchen, bathrooms, and slate entry way.

It is going to be staged and ready to sell immediately. The seller is very motivated because she is getting married and needs to move to her new home with her husband in San Francisco. This is NOT an R.E.O., Short Sale, or Distressed home for sale.

All the amenities of Burlingame are close at hand with this lovely home. A wonderful Public Park is two blocks away. World famous Burlingame Avenue is only 1.5 blocks away with all of its boutique shops and restaurants. A new shopping complex with a Safeway grocery store and a Walgreen pharmacy is only one half a block away. Want to walk to Burlingame’s Public Library? Just walk 3 blocks, and across the street from the library is Burlingame City Hall.

To top it off you will be deeded two parking spaces in the underground parking garage for the whole 6 unit complex. And best of all the pricing on this home will be affordable! It will fall within FHA guidelines for financing making it the prime option for a first time buyer.

If you would like to have me send you the time and place of this home please email your request to cliff@SFBayHomes.com. Do today and take advantage of this once in a lifetime offer. You will be glad you did.

Redwood City, CA

Lender are going to initiate new underwriting guidelines effective June 1, 2010. Your lender will begin to do two complete back ground credit check on all borrowers prior to funding your loan. That means if you buy a home and get approved for a loan, it does not mean you are approved for that loan.

Prior to the close of escrow on your new home the lender will order a new completer credit check and see if you have applied for or used any of your credit. They then will recalculate your front end and back end credit ratios to see if they are still within the banks lending guidelines.

If your credit comes back and your ratios are not within the guidelines of the bank you DON’T get the loan. Bye Bye new home!

What do you want to do then? Well the first thing is not to apply for any new credit. You may think a Home Depot Card is what every homeowner needs and you are right. However, that added credit card could increase your available credit ratio and screw up your new home purchase. Unqualified you in other words.

This goes for that new stainless steel refrigerator you want to buy and have ready to be installed in your new kitchen replacing that ugly, Autumn Gold, 30 year old one, the sellers used.

What else can you do? Don’t buy any big ticket items like a car, boat or plane. Wait until after the close of escrow. It doesn’t mean you can’t do things to improve your new home or life it just means be prudent in your money management during the escrow period while buying your new home.

If you stop and think about this new way of doing business with your lender if makes sense in theory. In practice, however, what are they thinking? Improvements to the home helps protect their investment! Now we know why they are in the positions they claim to be in to incorporate these kinds of underlining guidelines to their loan programs.

I mean, was it the borrowers that was the cause of the banking equity problems? I thought it was the product the banks sold to the public and then sold to the investor that caused the need for a bail out.

It doesn’t matter though, so just don’t spend any money for big ticket items or apply for any new credit and you will be just fine.

Redwood City, CA: Want to know all the current trends and conditions in your neighborhood in San Mateo and Santa Clara counties?

Just go here and look at all the graphs and data for your own neighborhood from the drop down arrow sections.

It’s Fun, Easy, and FR33!

Enjoy.

Redwood City, CA: “How to Stop Spending Money on Rent and Own a Home Instead.”

If you’ve always rented a place to live, buying a home can seem like a monumental undertaking. This report breaks down this home buying process into clear steps.

Seven Steps to Transition from Renter to Homeowner

Step One: Identify Your Needs and Wants

Begin your search by considering the kind of home you need and want. Write down your specific requirements, such as the number of bedrooms, size of yard, floor plan, location, schools, etc.

Step Two: Determine How Much You Can Realistically Afford

Consider your budget and financial obligations. Decide what monthly house payment you can really afford. Most mortgage consultants advise limiting your payment to no more than one-third of your net monthly income. If you’re unsure, contact your mortgage consultant to assist with the calculations.

Step Three: Get Pre-Qualified By a Mortgage Consultant

When you know in advance the amount of loan you can obtain, you can focus on searching for houses in your targeted price range. This can save you time when you find that perfect home, because sellers favor buyers who are pre-qualified.

Experienced mortgage consultants can let you know what specific loan programs are best for you. By taking a look at your financial situation and credit history, a mortgage consultant will tell you if you can qualify for the home you want and will find a loan that best suits your needs.

For the approval process, you and your mortgage consultant will complete the required documentation and submit it to an underwriter. A pre-qualification is an actual loan commitment from a mortgage consultant or lending institution. This means that you definitely qualify for a loan. Talk to your mortgage consultant about the costs and time involved to secure pre-qualification.

Step Four: Work With an Experienced Real Estate Consultant

You can learn a lot about consultants by talking to them about their experience. In a short time, you’ll be able to determine if they’re the right person to meet your needs.

Questions for Agents:

1. In what areas of town and price ranges do you specialize? (Keep in mind that some agents specialize in only one area or one price range.)

2. My objective is to buy a house by ___________. How will you help me achieve this goal?

3. How often will you update me with new property listings?

Step Five: Tips for Successful House Hunting

1. Keep an organized record of your research. Write down comments about the homes you see. Keep track of your likes and dislikes and offer feedback to your real estate consultant. Some buyers are reluctant to tell an agent what they really think of a house; they think the agent might take it personally. Remember, the homes don’t belong to the agent!

2. Make sure your agent is aware of your time schedule and expectations. Do you like to look at one or two homes per session? Four? Eight? Discuss this with your agent.

3. Tell your agent about any homes you see that interest you and that you’d like to know more about. This includes homes you’ve “discovered” as you explore the area and those advertised in the newspaper and on the Internet.

4. If you like to spend time driving around by yourself looking at houses, ask your agent for a list of drive-bys – homes to consider first from the outside. Your agent can make appointments to show you the interior of the properties that appeal to you.

5. It’s important to know beforehand whom your agent represents. Some agents work only for the seller.

Step Six: Make a Purchase Offer

Work with your real estate consultant to determine the most appropriate purchase offer. Your consultant will present the offer on your behalf.

Step Seven: Save on Your Initial Investment and Monthly Payments

There are only two major investments to consider when buying a home. These are the initial investment, which includes the down payment and closing costs, and the monthly payment, which includes principal, interest, taxes and insurance. Here are some things to consider.

Initial Investment

1. Choose a low or zero down payment loan. You don’t necessarily have to put 20 percent or even 10 percent down. You can pay 5 percent, 3 percent, or even zero down on some loans.

2. Some Lenders have programs to cover your closing costs. Ask your mortgage consultant about them.

3. As part of your offer, ask your real estate consultant about the seller’s paying some of your closing costs.

4. Shop around for your homeowners’ insurance. A little comparison shopping can save you money.

5. You may be able to deduct money paid for discount points from your gross income before computing your tax. See a CPA for more information.

Monthly Payments

1. Get a loan that doesn’t have monthly mortgage insurance premiums. You may be able to reduce or eliminate them by paying a little more at closing. By putting 20 percent or more down, you can eliminate them entirely. Talk to your mortgage consultant about other ways to eliminate monthly mortgage insurance payments.

2. Take advantage of rate lock programs that are currently available. You can generally lock in a low interest rate 30 to 45 days in advance. Secure an appraisal before you lock in a rate.

3. Remember that interest payments on a primary residential mortgage are fully deductible. Your property taxes are also deductible. Tax rates definitely favor homeowners. Be sure to declare both your mortgage interest and property taxes when you file your income tax returns.

4. Consider an adjustable rate mortgage. Adjustable rate mortgages (or ARMs) can be as much as 3 percent lower than fixed rates. Only choose this option when you’re in a position to refinance, should the adjustable rate rise sharply.

This Free Report prepared for you by:
Cliff Keith and Team
650-598-8121
Website

Redwood City, CA

Well folks there is only two weeks left for the tax savings for buying a new home.

It’s pretty much gone now for most people. There are a couple of California programs that can help out new home buyers but it too has limitations.

I see the future as higher interest rates and more committed sellers. Sellers are starting to be realistic on their pricing but also firm on their positions.

Spring is upon us and that means more competition for all the new inventory coming on the market.

If you see a home you like …buy it. Get off the fence and make a decision. This is the best real estate environment we are going to see for some time to come.

Redwood City, CA: Gear Up For Spring Cleaning

Is it time yet? Spring cleaning should be done around the time that you stop using the heat in your house. This typically falls between the first day of spring and mid-April. Sometimes one of the toughest things about spring cleaning is getting started, so here are a few tips to help you get ready for this much-needed chore.

Prepare By Making A List. . .Checking It Twice. . .
Make a list of all of the chores that you plan to tackle. Here are some suggestions:

· Wash blankets, comforters, quilts.
· Remove out-of-season clothing from closets, wash and store, and replace with seasonal clothing.
· Donate clothing that won’t be worn again.
· Clean light fixtures and chandeliers.
· Clean basement and garage.
· Clean windows, walls, ceilings, and floors.
· Vacuum books.
· Dust furniture.
· Move and clean under heavy appliances and furniture.
· Shampoo carpet, rugs, and upholstery.
· Clean lampshades.
· Dust or wash all china, crystal, and knickknacks.
· Wash blinds, mini-blinds, and shades.
· Dry clean or wash curtains and drapes.
· Organize files, photographs, videos, and CDs.

And Prepare Some More
Next, take inventory of your cleaning products. Decide what you’ll need to complete each chore, so you can make only one trip to the store. The key is to start with everything you need to complete the job.

And Then…
After you’re finished, sit back and admire your like-new clean house, and congratulate yourself on a job well done.
– Adapted from HomeMadeSimple.com