Monthly Payments for Home Buyers

Monthly Payments for Home Buyers

DOW TURNS POSITVE YTD

DOW JONES INDUSTRIAL CLOSED FRIDAY AT 11,644.49 TO SHOW A YEAR TO DATE GAIN OF .58% WHICH MAYBE A POSITIVE INDICATOR FOR REAL ESTATE PRICES GOING FORWARD.

North & East Richmond, CA --MARKET UPDATE

Have you seen the market prices in North & East Richmond lately?
Prices are dropping fast!!

Check out this new REO listing that hit the market today:

Lovely single story home with large front, side, and back yards! Living room boasts hardwood floors and kitchen has been beautifully remodeled with granite counter tops! A little TLC from you will make this home shine!

2Bed/1Bath 851 sq.ft on a double size lot LISTED for $114,900 by the bank.

WINTERIZING

• As the warm summer days begin to turn into cool fall and winter nights, many homeowners see increases in their electricity bills as they try to keep their homes warm.
  
  
• To help lower the cost of heating a home this winter, homeowners can weatherstrip their homes.  According to the U.S. Dept. of Energy, there are many kinds of weatherstripping products on the market.  Since each product is designed to work in a different area of the home, homeowners should read product packaging carefully to determine if it is best suited for windows or doors, as well as indoor or outdoor use.
• Another tip for “winterizing” a home is to get a furnace or heating system inspection, which most professionals recommend homeowners do at least once a year.  An inspection of the working parts can ensure that the house has heat when needed and can prevent costly repairs in the future.

California Foreclosures on a National Scale

California  has had in the last 11 months, more than a half-million homes entered into foreclosure. While California used to have five cities ranked on the list of the 10 highest in foreclosures in the USA, it now has eight such cities.

WHAT TO DO WHEN YOU OWE MORE THAN YOUR HOUSE IS WORTH?

There are essentially two options:

Continue to cut spending and look for side jobs in a painful attempt to convince yourself things will change for the better eventually.

Or, you can admit defeat, default on your debts, and hope for the best.

WHEN PURCHASING A PROPERTY

Talking Points

• When purchasing a property, most borrowers will conduct their due diligence on the house, examining its structural soundness and the surrounding neighborhood.  However, not all borrowers do a thorough vetting of the lender.
  
• Borrowers are advised to focus more on the individual who would be the mortgage broker, loan officer or loan originator rather than the lending institution.
  
• Among the questions borrowers should ask are: How long has the individual been in the field? How well or promptly does he answer questions? Does he want to know the borrower’s financial goals?