May 2008 
There are 2 blog entries for May 2008.
Some Lenders Pulling Back on Home Equity Lines
Friday, May 16th, 2008 at 5:06pm. 671 Views, 0 Comments.
It used to be that getting a home equity line of credit was no sweat..as long as you had some equity in your home, a lender would allow you to borrow against it as you needed. However with the recent decline in the market, some lenders now view home equity lines as too risky to partake in, because of falling property values.
Traditionally, home equity lines of credit carry higher rate, and sometimes even an adjustable rate that is tied to the prime rate. For this reason, many homeowners would do better with a traditional refinance. It all depends on your situation, some borrowers who don't need a huge lump sum may do better with a home equity line because you can draw from it at your leisure...as opposed to pulling out a large sum that you will be…
The Million Dollar Question: Have we
Tuesday, May 6th, 2008 at 2:06pm. 661 Views, 0 Comments.
Within the past couple of months, Realtors have been seeing the conversation among clients go from "the market is really bad huh.." to "I think we are close to the bottom..it might be a good time to buy". Just like any cycle, there is a beginning and an end, and I am of the opinion that we are close to the end of falling prices. In some parts of Oakland and the East Bay Area, prices are close to what they were prior to the frenzy that begain in '01. The areas that have taken the greatest hits are the ones with the highest foreclosure rates, like East, West and North Oakland.
Looking at some of the prices in these areas, it's hard to know how much lower they will go. Some analysts believe that we are only about a third of the way through the glut of…
The Oakland Real Estate Market is HOT
I'm happy to say, that there is definitely a significant increase in activity compared to this time last year. Multiple offer... Add Comment Read MoreShort Sale Debt Cancellation Set to Go Away
Originally, when you did a short sale you were taxed on the amount that you were forgiven by the lender. This was a seri... 13Comments Read MoreChanges To FHA Mortgage Insurance Premium
The Federal Housing Administration recently announced an increase in the upfront Mortgage Insurance Premium. Mortgage insuran... 4Comments Read More
