I WROTE about timing the market sometime in August of 08’, because I thought that properties were at a very low price and very available. Now, if you are going to buy in a decent area at pretty much the same prices as about 3-6 months ago, you have COMPETITION. Am I right? I feel that our market has shown signs of HOPE and whom- ever can buy now also can get a $8,000 tax credit and for buyers of new homes, an additional $10K tax credit.
If you are in a position to purchase a new home, now is the time to start shopping. Qualified buyers with good credit and money for a down payment can make the most of this buyers market and cash in on some really great deals!Asian Journal- The Filipino-American Community Newspaper
Sunday
Nov 22nd
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General Interest Atty. Kenneth Go
General Interest Atty. Kenneth Go
Atty. Kenneth Go
California properties seeing its bottom? Time to BUY!!!
AN estimated 29,225 new and resale houses and condos were sold statewide last month. That was down 0.8 percent from 29,458 in January and up 42.5 percent from 20,513 for February 2008. Sales have increased on a year-over-year basis the last eight months. California sales for the month of February have varied from last year’s low to a peak of 48,409 in 2004, while the average is 32,517. MDA DataQuick’s statistics go back to 1988.
The median price paid for a home last month was $224,000, unchanged from the month before, and down 39.9 percent from $373,000 for February a year ago. Around half of the drop in the median is due to price depreciation, while the other half is due to shifts in the types of homes selling, and how those homes are financed. Last month was the first without a month-to-month decline in the median since May 2007.
Loan modification and fraud information
IF you are having a lawyer do your Loan Modification, be aware that lawyers do not guarantee the outcomes of their cases or matters. If you have spoken to a representative of the Law Firm, keep in mind they are all independent contractors and what they say they cannot represent the Lawyer or law firm.
Here are some of the comments I have gathered online by thousands of homeowners seeking a Loan Modification on their existing loans.
How is the government bailout plan going to help homeowners?
HOMEOWNERS struggling to pay their bills must find the federal government’s bailout of troubled Wall Street firms confusing. All they are hearing are Government Money to be available, they might think its for them. But its not for the homeowners directly or so called Main Street but its still going to Wall Street.
After all, government officials have repeatedly said they would not help victims of the subprime mortgage crisis, reasoning that they should not get rewarded for making bad decisions.
Your Lender should be your friend call them first for help!
WHEN you call your lender, be sure to have your account information handy and be ready to give a summary of the financial problems you are having. You should also have recent income statements and your household budget with you.
Have these on hand for the conversation with your lender:
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