August 2008 
There are 2 blog entries for August 2008.
Sales Up, But Prices Down as Foreclosures Continue To Flood The Market
Thursday, August 21st, 2008 at 3:54pm. 637 Views, 0 Comments.
You have probably seen a headline or two recently about increased sales activity, and I can personally attest to this as we Realtors are starting to see multiple offers more frequently. In certain price ranges, there are properties that end up receiving 10 offers or more, because the listed price is just too good to pass on for many buyers. In addition to that, I think many buyers are realizing that we are pretty close-if not already at the "bottom". Furthermore, by the time we realize we have hit bottom, we will already be on the way back up! This fact, coupled with low interest rates means that many who can afford to buy are seizing the moment and taking advantage of the opportunities that are out there.
The fact that "short sales" haven't gotten any…
The Grim Reaper Looms For DownPayment Assistance..
Monday, August 4th, 2008 at 5:37pm. 598 Views, 0 Comments.
You may have heard of seller-assisted down payments, and recently there has been much use of this by first time home buyers in particular. Unfortunately, the housing bill that was just signed eliminates seller-assisted down payments with FHA loans. Nehemiah is the largest privately funded down-payment assistance program that the Nation has, and when October 1st rolls around, the program will no longer be available.
Clearly the intent is good, but at the same time it will have a negative effect because there will be less people who can get financing. We are already experiencing a credit crunch, and this aspect of the housing bill doesn't make it any easier. To me, this underscores the seriousness of the situation. According to the Feds, they had to add…
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
