Government loans getting more expensive

Which is better- FHA loans, Fannie Mae loans or conventional loans? FHA  raised its monthly and upfront fees this spring, and also made borrowers’ monthly mortgage insurance premium (MIP) effective for the life of most loans. It used to be until you had more...
FHA eases credit rules

FHA eases credit rules

Up until now, FHA made people who filed bankruptcy or did a short sale or walked away, wait 3 years to get a new loan. Now they have made it one year. There are restrictions, however. You must show that your situation was caused by external forces that reduced your...
Southland prices flat in July

Southland prices flat in July

Southern California home prices are the same in July from June as more houses went on sale and interest rates rose.The median sales price in the six-county region was $385,000 last month, unchanged from June, DataQuick said Wednesday. The median is an amazing 25.8%...
Affordability drops again

Affordability drops again

The affordability of California homes is dropping rapidly as prices continue to soar and now higher interest rates are compounding the problem. The California Association of Realtors® (C.A.R.) reported today that its Home Affordability Index (HAI) dropped 8 percentage...
Here we go again

Here we go again

From a recent LA Times article “After buying tens of thousands of single-family homes in beaten-down markets, major investment firms have quickly become major landlords” New research from Morgan Stanley predicts that the buy-to-rent sector will grow from $17...

Real estate market update

[highlight bg=”#fff199″ color=”#000000″]What’s the real estate market doing now?[/highlight] Lots of contrasting trends. On one hand,Notices of default are up 39% . But houses actually getting foreclosed on fell 28% from the prior quarter as...