Cliff's Notes…on Real Estate

Redwood City, CA homes: Now that the summer has come to an end, I wanted to check in with you to see if you have any real estate questions I can help you with. I also want to briefly share with you how I recently helped a client achieve their dream.

Geoff and Tina were looking to buy their first home and wanted to live in a very expensive area. After they were pre-approved with their personal lender it was discovered they had great credit, but not the income to purchase a home in the neighborhood they wanted to live in. After a consultation with me and my Team, we showed them how they could still buy a home in the neighborhood they wanted to live, however, it was going to take hard work and a period of time for them to accomplish such a feat. Together we all came up with a workable plan that would not hinder Geoff and Tina’s lives. Like being tied down to their home and not able to enjoy life. The plan was conservative enough to allow Geoff and Tina to be constantly working towards their goal: moving to the area they wanted to live in. After two years we sold the home they purchased and fixed up for a substantial profit. The profit was not enough for them to get into the area they wanted but they could afford another neighborhood close by to their goal neighborhood. They did the same thing as before and purchased a home they could afford and fixed it up for the current real estate market. Two years later they sold this home, and once again made a hefty profit. Now they had the down payment, great payment history, and know how and we found a “fixer-upper” in the area they initially wanted to buy their home. Sure it took a few years but they got what they wanted and did it the way one does with attaining a dream with real estate. You can too. I can help you too.

If I can ever help you achieve a goal with your home, no matter how difficult it may seem, please call me. (You may use any of the contact numbers/email addresses below) My business is built on serving my clients needs-not just during a sale but before and after. And for any real estate-related questions, such as the name of a good electrician or an update on the houses for sale in your neighborhood, it is my job to help you. In other words you can count on me.

And if you know of anyone that is interested in buying or selling a home, pass their name on to me. I will treat them just as I have treated you.

Have a good day.

Your friend,

Cliff

Tags: buy a home, Buyers Tips, Cliff Keith and Team, cliffnotesonrealestate, homes for sale, plan to your goal, Redwood City

Redwood City, CA: If you have been in the market to purchase a home for over six months you need to act soon and not wait any longer. Especially is you are thinking of using FHA to fund your mortgage or 1st Deed of Trust.

Starting in October 2010 FHA will be charging a new “tax” to all borrowers! This “tax” will be between .35% and 1.5% or $50-$250 extra payment per month. That’s right, you now get to pay more to use FHA as your lender so they can help people who can’t afford loans. Take from one to give to another is a “tax” in my book.

The bottom line is, purchase your new home NOW and save. Otherwise, it will cost you extra in October 2010.

Stop paying rent. Lower your taxes. Take advantage of the current low interest rates and negotiable home prices.

You will be glad you did. Informative free report by clicking here on “How to find bargain deals quickly and easily”.

Tags: banking, buy a home, Buyers Tips, finances, fyi, government, Redwood City, residential home, san mateo county

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.

Tags: banking, buy a home, Buyers Tips, Foreclosure, homes for sale, Real Estate Market Trends, Redwood City, san mateo county, US economy

How about this. First time at bat in the Major League and the very first pitch you see, fastball down the pipe, you hit the ball and it goes over the right field fence into the pitcher’s dugout and you have a grand slam homerun! That’s what my neighbor’s grandson, Daniel Nava did in the game against the Phillies last Saturday. Daniel was called up to the “big show” by the Boston Red Socks from their Minor League club on Friday.

Daniel was the fourth guy in Major League history to hit a grandslam homerun the first time at bat and only the second in history to do it on the first pitch. Congratulations Daniel Nava, your whole family and community are proud of you.

I can remember every morning before school or church Daniel would do a few hundred reps of hitting the ball on the rope below my bedroom window. It use to drive me crazy because it was 6:00am and I wasn’t ready to get up. At this point I don’t think it matters because of the results I saw on Saturday.

As a side note, Daniel’s brother David, graduated from Santa Clara University on Saturday and when Daniel got called up, the Red Socks sent Daniel’s parents plane ticket to watch the first game their son was going to play in the major league. David being a stand up guy that he is, told his parent to go and support his older brother and miss his gradulation ceremonies. I call that giving one for the team…atta boy David.

Want to see the grand slam homerun click here.

Tags: Boston Red Socks, Daniel Nava, First pitch, First time at bat, Grand Slam Homerun, Major League Baseball, MLB, Redwood City

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.

Tags: banking, buy a home, escrow, financing, new underwriting guidelines, Redwood City