Real Estate Trade Secrets

 
Here are some tips I learned from a seasoned California mortgage banker who successfully funded over 100 loans during the tough transitional 2007 real estate market. These tales from the trenches can prevent your deal from the shrapnel of a loan decline or last minute tighter “prior to document or funding” conditions:
 

Most conventional (up to […]

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 The Veteran’s Administration has modernized the current VA loan programs available to qualified veteran borrowers. These loans are very competitive and can offer an affordable financing alternative to prospective home buyers and people who want to refinance their existing mortgage.  Additionally, the current maximum VA loan limit is $1,000,000 which can be a great alternative to […]

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Here is another facet of the financial “crisis” we face – whether or not you own real estate, this will be paid for by your taxes (and mine).  
The House of Representatives will approve the Senate-passed version of H.R. 3648, the “Mortgage Forgiveness Debt Relief Act of 2007.”  Thus, once the House passes this bill it […]

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On Friday, December 14, 2007, the U.S. Senate voted 93 to 1 to pass S. 2338, the FHA Modernization Act, which will reform the Federal Housing Administration (FHA).  A conference committee will now meet to resolve differences between this bill and the one passed by the House of Representatives earlier this year. 
This is a huge […]

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In most real estate markets throughout the country, sellers are trying to cope with a slower moving market burdened with an over supply of competing homes for sale and weak buyer demand. Many potential home buyers can no longer afford the prices of homes in high cost real estate markets like the San Francisco Bay […]

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Have you ever talked with someone who tells you that they sold their house and “got what they wanted?” You remember that they were asking $429,000 so that must be what they sold for – or so you’d think. Or someone tells you that all the houses in your neighborhood have been selling for full […]

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Leaky roof? Stolen bike? Broken rain gutter? You may want to think twice before even calling your insurance company. 
Many home insurers count inquiry calls – calls in which homeowners simply ask informally whether their policy will cover certain damages and are told that it won’t – as unpaid losses. 
Most insurance companies file loss information, paid […]

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Most sellers would be delighted to receive multiple offers from prospective buyers. However, figuring out which offer to accept is not always as simple as you might think. Suppose you receive three purchase offers. One is for $495,000, your asking price. Another is for $10,000 more. And the highest offer is for $525,000 - $30,000 […]

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During this 4 minute interview,  Ross McGowan poses questions of Bay Area Real Estate Consultant, Pete Sabine.  Topics covered include: the Bay Area real estate market as compared to the national market,  jumbo loans and their limitations in the San Francisco Bay Area, the recent interest rate cut by the Fed and it’s probable impact […]

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Are you looking for an opportunity to defer capital gains tax and retire from managing your income property? Many income property owners are comfortable with real estate investments and have had good returns in the past, but they do not like the daily management headaches that accompany property management. If so, discover the benefits of […]

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