Buyers
How Proposition 60 & Proposition 90 Affect Palo Alto Homeowners
June 28, 2010 by Gwen Wang · Leave a Comment
From the Silicon Valley Association of Realtors: Proposition 60 In 1986, California voters passed Proposition 60 that amended the State Constitution to allow property owners over the age of 55 years old to move within their current county and keep their property tax base assessment from their original property. This law gave relief to seniors [...]
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First Time Home Buyer Affordability Index
June 24, 2010 by Gwen Wang · Leave a Comment
California Association of Realtors’ First-time Buyer Housing Affordability Index measures the percentage of households that can afford to purchase an entry-level home in California. This Index measures housing well-being for first-time buyers. In the first quarter of 2010 this index Remain near an all time high at 66 percent in California. This means that 66%, or [...]
Read More...2010 Survey of California Home Buyers
June 23, 2010 by Gwen Wang · Leave a Comment
The California Association of Realtors recently completed its 11th annual 2010 Survey of California Home Buyers that details how home buyers have adapted to changing market conditions and the new housing market environment. Some of the key findings of the home buyer survey are: 1. The share of first time home buyers increased in the [...]
Read More...US Home Sales Up, Mortgage Rate Dipped Lower – May 2010
June 18, 2010 by Gwen Wang · Leave a Comment
Existing Home Sales Existing home sales strengthened in April to 5.77 million, up 8.7% from March and 22.8%from last April. This is the tenth consecutive month of year-over-year increases. According to Lawrence Yun, NAR chief economist, although part of the uptick was expected from the tax credit, there’s also been a return of buyer confidence, [...]
Read More...FHA Financing Info (and Limits) for Multi-Family Homes in Palo Alto
May 29, 2010 by Gwen Wang · Leave a Comment
FHA Financing Information for Multi-Unit Properties (2-4 Unit Homes) in Palo Alto Did you know that you can finance a 2-4 unit property in Palo Alto using an FHA loan? You can qualify for FHA financing as long as one of the units is owner occupied, meaning you live in one of the units and [...]
Read More...Economists Predict Second Quarter Woes Fading for National and Palo Alto Real Estate
April 26, 2010 by Gwen Wang · Leave a Comment
Government support in the national and Palo Alto real estate sectors is slowly being pulled back. For instance, the federal homebuyer’s tax credit expires this month and the Fed stopped purchasing mortgage-backed securities in March. These two changes in financial backing for the housing market are causing worry because people fear the expiring tax credit [...]
Read More...Buying Palo Alto Homes – Why You Might Not Want To Wait?
April 20, 2010 by Gwen Wang · Leave a Comment
Surprising numbers of potential homebuyers are holding off on buying Palo Alto homes. They see the housing prices drop and are waiting for them to go lower. They see the mortgage rates and are waiting for them to drop further. If this is you, you might want to rethink your strategy and take a real [...]
Read More...Palo Alto Homebuyer News – Governor Signs New California Home Buyer Tax Credit
April 1, 2010 by Gwen Wang · 6 Comments
Last Thursday on March 25th, Governor Schwarzenegger signed into law a new home buyer tax credit that is designed to reduce the number of vacant homes and encourage new construction in California. The new law, AB183, allows for up to a $10,000 tax credit for all buyers of new construction homes and existing home purchases [...]
Read More...Mortgage Interest Rates in Palo Alto & Nationally Heading Higher
March 12, 2010 by Gwen Wang · Leave a Comment
Mortgage interest rates in Palo Alto (and nationally) will soon be headed higher. The Fed plans to stop purchasing mortgage backed securities at the end of this month (March 2010). In fact, after reaching a low last November, rates have already risen .25-.375% in anticipation of this change. Right now the only mortgage backed securities [...]
Read More...Rules for Rehabbing Palo Alto Real Estate, Part 2
March 12, 2010 by Gwen Wang · 1 Comment
In Rules for Rehabbing Palo Alto Real Estate, Part 1, you received the first five rules for rehabbing. Now, let’s go more in depth about how to rehab a home with the final six rules: Check out the neighborhood. Before you do any work to the property, walk through the neighborhood and take note of [...]
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