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If you're preparing for the costs of college tuition and
housing our "Family Opportunity" program can assist
in providing mortgage financing without the cost and
required down payment that comes with purchasing
an investment property. With this program clients can
obtain financing for a safe and secure home for their
college-bound child. This program can also be used
to provide financing for a disabled adult child, or
elderly parents.
In this market full of great buying opportunities this program can allow you to purchase a fantastic investment and take care of those ever increasing college housing expenses. Please contact Jason Mata with Partners Mortgage at 916-782-9494 or email jason.mata@partnersnet.com if you would like more information. Jason Mata |
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The banks do not seem to care what price they receive
on their foreclosed homes, they just want them off
their books," said Michael Lyon, CEO of Lyon Real
Estate. "This has driven pending sales up to the peak
market volumes of 2005. Yet, this time 60% of the
sales are below $300,000 with another 20% between
$300,000 and $400,000. 60% of these sales are bank
owned (REO). If you make an offer on one of these
REO homes you will find yourself in competition with
dozens of investors or first-time home buyers. If you
are selling in any price range, your main competition
is a bank-owned property. The good news is that
inventory is declining and buyers are willing to buy if
you price competitively."
"If we see a few more months of prices stabilizing we may be very near to reaching 'the bottom of the market' for homes under $300,000." TRENDGRAPHIX's latest report shows that sales increased 13% during the month of March for the Tri- County region of Sacramento, Placer and El Dorado Counties. March 2008 sales were 6% lower than March 2007 sales. Pending sales increased by 48% from February to March 2008. March 2008 inventory of 12,274 homes for sale is 4% higher than March 2007 inventory. This is a 20% decrease for the regional inventory record high of 15,302 set in August 2007. COUNTY HIGHS AND LOWS Sacramento County Sales increased by 13% Inventory decreased 4% during the month of March. Pending sales increased by 53% in the month of March. 29% of the homes sold for <$200,000 57% of the homes sold for $200,000-$400, 14% of the homes sold for >$400,000. The average $/sq ft decreased by 4% during the month of March to $156. Placer County Sales increased by 16% Inventory increased by 1% during the month of March Pending sales increased by 40% in the month of March 2% of the homes sold for <$200,000 58% of the homes sold for $200,000-$400,000 40% of the homes sold for >$400,000 The average $/sq ft increased by 3% during the month of March to $178. El Dorado County Sales increased by 1o% Inventory increased by 6% during the month of March Pending sales have increased 20% during the month of March 7% of the homes sold for <$200,000 48% of the homes sold for $200,000-$400,000 45% of the homes sold for >400,000. The average $/sq ft decreased by 4% during the month of March to $193. Info by Michael Lyon, Trendgraphix |
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Last fall, one of the biggest economic worries was
what would happen when the big bulge of subprime
adjustable-rate mortgages originated in 2006 faced
their first interest rate adjustment in 2008.
You're not hearing much about this ARM reset problem today because it has been ameliorated - at least for now - by the Federal Reserve's steep interest rate cuts and credit-market lubrication. The Fed has cut the federal funds rate by three percentage points since September and is expected to lower it another quarter point - to 2 percent - this week. Many homeowners facing ARM resets today will find that their interest rates - instead of skyrocketing as predicted - won't change a lot. "If they go up, it won't be much. Some might even be lower," says Steve Cochrane, senior managing director at Moody's Economy.com. That doesn't mean the mortgage crisis is over. Some homeowners are defaulting on their mortgages even before their payments reset, a sign they probably couldn't afford the house in the first place. And if housing prices continue to drop, some borrowers who owe more than their homes are worth might stop paying their mortgages, even if they could afford to. Should government help these people? Can government help these people? As Congress and state legislatures debate a panoply of bailout bills, they need to be clear about what problem it is they're solving. One problem they don't have to worry about - at least for now - is the ARM reset problem. Info by Kathleen Pender at SF Chronicle |
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FOR A FREE MARKET ANALYSIS OF YOUR HOME AND ESTIMATE OF VALUE CALL OR EMAIL ME! I WILL GET YOU THE INFO WITHIN 24 HOURS OF YOUR REQUEST. Please contact me with all of your real estate needs and questions. I am always available to you, your family and friends!
Sincerely,
Kia Kapci
Lyon Real Estate
email:
kkapci@golyon.com
phone:
916-782-0558
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