Hello Friends, Family and Clients,
Welcome to my new blog. I created this especially for those of you who have been confused, if not rattled, by the volatility of the real estate market here in California. Many of you have been asking lots of questions, so I decided that it's time to conduct an open forum to answer those questions, and to include those of you who would like to comment...or rant and rave as the case may be.
There are rumors of better days ahead as word of expected rate drops and a re-set on those nasty variable rate mortgages abound. Also, newly released statistics reflect an increase in home sales in SoCal during this past month - good news to a lot of very concerned sellers. Foreign investors are coming ashore to take advantage of California's bargain basement prices, so that also gives sellers reason enough not to throw their "For Sale" signs into their swimming pools.
Buyers, too, have reason to breathe a little easier this month. It is simply not true, repeat: NOT TRUE, that it is impossible to get funding in today's market. If you have good credit and enough of an income to show you can actually afford the home you wish to buy (what a novel idea!), then you can still get financing and take advantage of today's low rates and low prices (a lovely pas de deux). FHA loans are still being offered with as low as 3% down to qualified buyers (I got such a loan for a client just this week.)
Remember, this is California. Houses keep selling, the sun keeps shining, and the ocean keeps oceaning. You get the idea. So please send all comments and questions this way. We can volley them around, and I have a coterie of specialists at the end of my phone line who can address the questions that are beyond my scope of expertise or IQ level. (No comments required there, folks.) Hang in there - California was built with fortitude and remains the golden state - it's a state of mind!