Steve Eveleth....Whats going on with the market? A lot!!! Anything under $417k is moving in the Livermore, Mountain House & Tracy area. Prices have come down low enough now that the affordability gap has widened enough to accommodate a much larger spread of blue collar entry level buyers to the entry level market. I refer to entry level market as anything priced under $417 k.(conforming loan amount) Many of these homes are getting multiple offers as soon as they hit the market. Good news is there is still time to buy & I think plenty of it. This is due to the fact that there is an estimated 2 million foreclosures predicted to hit the market in next two years. Now one thing to consider before you wait & assume prices may dip another 5-10%, 100% financing is back! There are programs coming out daily that allow buyer to purchase in a secure 30 yr fix loan that is safe with no money out of pocket or little down. I personally closed one of several deals last week that buyer got in with $620 total out of pocket. And a nice safe 30yr fixed loan. So as long as the inventory keeps coming on supply & demand is not going to come into play. Once all the homes that were purchased between 2001 & late summer of 2005 have went through the foreclosure process & are sold to new buyers in solid loans, eventually the inventory with be gone. Dried up inventory & new programs that are available with a new foundation of buyers in safe secure loans & maybe next few years increased wages & a new president that is not taking up to his bank & we just might see some stabilization in the housing market prices in the near future....of course this is all my opinions........people ask me all the time if I think it's a good time to buy...my response to them is "why would you want to wait around until its not? www.steveshomesearch.com
Take a peak at this latest program, its hot for 2008! CDPAP first time buyer program (California Down Payment Assistance Program)
(CDPAP) CALIFORNIA DOWN PAYMENT ASSISTANCE PROGRAM Steve Eveleth www.StevesHomeSearch.com
(CDPAP) CALIFORNIA DOWN PAYMENT ASSISTANCE PROGRAM
*First time buyers/previous home owners/investors
*Safe 100% financing,
*Minimum out of pocket expenses for purchase
*Closing costs paid w full program credit
*5% down gifted to buyer. Gain instant equity
*Nationally approved “gift source”
*No re-payment of funds ever, free & clear
*No asset or income limitations (this is a beauty)
*Credit score flexible Co-signer ok
*Total household income before taxes ok to qualify
*Combined income with partner/family member/spouse ok
*Buyer rate buy down option to lower payment
*First step toward wealth accumulation
*Any home any area can qualify, no geographical restrictions
*Must use certified program finance/title/realtor for transaction
*Past client references available upon request
This program is perfect for:
1) Buyers that have average to good credit but no down payment
2) Buyers that have solid employment & are able to prove their income
3) Buyers that have their down payment but would rather save it & use the banks $
4) Buyers that are not currently working with other programs or realtors
5) Buyers that are motivated & serious about purchasing
6) Buyers that have been told they have all the qualifications for a loan but no down payment
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment