Buy a home up to $415,000 with 3% in FREE grant monies!

CHF Platinum is a 3% home buyer grant that can be used to cover down payment or closing costs.

This program is, at this point, perpetually funded with no pre-determined limit to availability of the down payment or closing cost assistance.

The CHF Platinum program is being administered by the National Homebuyer Fund (NHF).

The top 3 things you need to know about the CHF Platinum Grant

1. You must use an approved lender (brokers not allowed) approved to offer a NHF first mortgage.

2. The first mortgage can be either a FHA, VA or USDA loan at the published interest rate. Lenders are not allowed to determine the interest rate for this program.

3. Home buyer must meet income requirements for CHF Platinum program. Income limits are limited to $89,880 in San Diego County.  The maximum purchase price is $415,000.

 This is an incredible opportunity for home buyers to take advantage of historically low interest rates as well as affordable home prices.

Just think, you are looking to buy a home for $300,000 for example, you could receive $9,000 in FREE money to help toward either your downpayment or closing costs.

Want more information, just let me know!




Jane Loveday
Licence # 01439083
Pacific Sothebys International Realty
619-519-1615 Cell
http://janeloveday.com/
http://www.facebook.com/realestatesandiego
http://www.linkedin.com/in/janeloveday

If prices continue to fall, why should I buy now?

While price is the major concern for anyone selling a home, cost should be your primary concern as a buyer.

That means you have to take into account what your monthly payment will be, considering not only the price of the home, but also the interest rate of your mortgage.

Waiting for prices to bottom out while rates are increasing can wind up costing more over the life of your mortgage.  Fannie Mae, Freddie Mac, the National Association of Realtors and the Mortgage Bankers Association are all projecting interest rates will increase over the next several quarters. 

It's best that you meet with your mortgage professional to help you determine what an interest rate increase will cost you based on the expected size of your loan.  Also the knowledge of your Realtor about the area(s) in which you are looking for a new home, what prices have done and are doing, whether the home you are looking at is a short sale or not, or foreclosure, will also help guide you as to what your best decision should be.

Interest rates are still under 5%, they are historically low, if prices drop even further, and the interest rate rises, your buying power can drop considerably. 

America is based on home ownership, your landlord understands this, are you ready?

Jane Loveday
Licence # 01439083
Pacific Sothebys International Realty
619-519-1615 Cell
http://janeloveday.com/
http://www.facebook.com/realestatesandiego
http://www.twitter.com/sdrealestate

A Quick Diary of a Short Sale!

I took a property listing back in December 2010, the owners of the property had already received formal 'Notice of Intent to Foreclose' which means they were being advised by their bank that their payments were in default and the bank was looking to eventually sell it to recoup their costs.

I visited the property, it was in the worst possibly condition you could imagine, garbage, ceilings caving in, evidence of rodent infestation, carpets wet from the winter rains, overgrown vegetation outside and a very murky green pool!  However a home just up the street had sold for a very nice price, so I listed it according - half the price!

WOW - was I to be surprised, 16 all cash offers poured in the first week, ALL CASH!!  It was not only raining through the roof but raining investors wanting a great deal.  I advised them all to obtain contractor bids before submitting their highest and best offer.  We finally went into escrow with one investor.

Five months down the road, we finally obtained 1st and 2nd loan approval (same bank) and the investor backed out, two days before closing ..... what's a good Realtor to do?  I went back to the original other 15, asked if they were still interested BUT their offer now had to be at the current pre-approval price (which was quite a bit igher than the original asking price).  Sweetness happened, several came forward, the first, and quickest to respond, is now going to close on this property 4 days before the actual auction date, will gut it, rehab it and hopefully make his own investment dollars out of it.

Long story short - NEVER GIVE UP ON YOUR SHORT SALE !!  It's an incredible amount of paperwork, phone calling, liaising with your sellers, but just simply being on top of it.  Am patting myself on the back for sticking in there and learning a lot during the process.  Remember, I am here, I can help!

Jane Loveday
Licence # 01439083
Pacific Sothebys International Realty
619-519-1615 Cell
http://janeloveday.com/
http://www.facebook.com/realestatesandiego
http://www.linkedin.com/in/janeloveday
http://www.twitter.com/sdrealestate

How to Manage your Debt!

Do you have a lot of debt?  Are you worried about managing your debt?  Here are several things you can do to maintain your debt and keep your credit in good rating:

KNOW WHAT YOU OWE!

Gather up all your statements and determine how much you owe in total. If you don't like the answer, this negative exercise can give you the oomph to get going.

HAVE A SPENDING PLAN!

Have a spending plan for your income is the best way to ensure that you are spending your hard-earned money in the way you want and most importantly, in the way that assures your financial success.

REVIEW YOUR TAXES!

Review your income tax withholding. If you are receiving a tax refund of more than $600, you are providing an interest-free loan to the IRS. A better idea is to adjust your withholding -- have less money taken out for income taxes -- and use those funds earning zero percent interest to help pay down your high interest consumer debt.

START A SAVINGS PLAN!

Start a savings plan. The simplest way to avoid unwanted debt is to have money set aside for those unexpected or large expenses that we all have. When you have money taken from your paycheck or checking account and automatically deposited into a savings account, you will hardly notice. But you will be building a very important financial tool -- liquid savings. Your savings goal should be six months to a year of living expenses.

COMMIT WHAT YOU DON'T HAVE YET!

Commit money you don't have yet to paying down your debt. Use at least 50 percent of any new raises, bonuses, tax refunds or other source of additional income to give yourself a boost in paying off expensive debt.

START AUTOMATIC ELECTRONIC PAYMENTS!

Set up automatic electronic banking payments. A late payment can trigger a hefty late fee, and may result in an increased interest rate on future credit card purchases. Electronic payments will help avoid a payment arriving late and increasing the cost of your debt.

REVIEW YOUR CREDIT REPORT!

Check it for any innacuracies, you can get a free copy at annualcreditreport.com  If you find errors dispute them with the credit bureau that reported them.

If you still need help contact a free non-profit agency such as nfcc.org or aiccca.org.

Once you have got your debt and/or credit secure, and are ready to look for a new home, let me know, I am here, I can help!


 
Jane Loveday
Licence # 01439083
Pacific Sothebys International Realty
619-519-1615 Cell
http://janeloveday.com/
http://www.facebook.com/realestatesandiego

Preparing for the purchase of a home

• When preparing for the purchase of a house, there are several items buyers must think about, such as their main priorities.  Buyers should determine whether it’s more important to live in a particular type of home, such as a single family home with a garage, or in a particular neighborhood.
• Some neighborhoods hold value more than others during a housing downturn.  Buyers can work with a knowledgeable REALTOR® to find a neighborhood that meets their needs as well as one where home values are stabilizing or rising.
• Once a buyer finds a home he want to make an offer on, he should be sure not to make a low-ball offer. Some sellers are willing to negotiate and others are not.  Working with a REALTOR® can help ensure the buyer is dealt with fairly and guided through the process.

 Click here to search the entire San Diego MLS for your next home!

Jane Loveday
Licence # 01439083
Pacific Sothebys International Realty
619-519-1615 Cell
http://janeloveday.com
http://www.facebook.com/realestatesandiego

What is a Pre-Approval for buying a home?

When starting to look for a new home, the most important first step is to obtain a pre-approval from a Lender.  They will check your credit score, your credit history, your past two years of tax returns, and verify your employment income.

The higher your credit score, the lower your downpayment and monthly payments.  If your credit score is below 640 or 660 you may have higher fees to obtain your mortgage or will need a higher downpayment.  You can improve your chances by pulling your credit report and ensuring you are not being unfairly penalized for old, paid or settled debts.

Also STOP applying for new credit of any sort, and don't charge anything large during the purchase process! 

Contact your bank, credit union or private lender such as Broadview Mortgage Corp, and check their fees for obtaining your loan, also ask what amount you'll need for closing costs, and what points you maybe paying to obtain your mortgage.

Once you have your pre-approval you can start looking for a new home, when you find your new home, your pre-approval will need to be submitted with your offer to purchase.  It is better to be prepared ahead and be armed with the knowledge of what you will need which will make your new home search much more exciting!



Jane Loveday
Licence # 01439083
Pacific Sothebys International Realty
619-519-1615 Cell
http://janeloveday.com/
http://www.facebook.com/realestatesandiego
http://www.twitter.com/sdrealestate
http://www.linkedin.com/in/janeloveday

Facebook and Your Business?

Are you using Facebook to market your business?  This is a question I recently posed on LinkedIn.  I got many different responses, but Facebook seems to be the natural way to market your business instead of the old fashioned way of distributing flyers, cold-calling, and doing the rounds of businesses that may help you.

As Facebook enters it's second set of 500+ million users world wide, Facebook is one of the best arenas to get yourself recognised, known and respected, with due diligence not to post too much personal content.  That is also why I have a personal page and a business Facebook page.

However, Facebook is for some, a very personal environment, for me it is both.  On my business Facebook page, I can interact with my clients, potential clients, while letting them see that I am indeed also human, but also have useful information that they may value once they think about potentially buying a new home.  I can include links to homes for sale, pertinent market information, interest rate updates, what maybe happening in certain areas of my city, and Facebook, after all, is a free forum.  If used correctly, I believe it is a great way to interract and generate interest in my business of real estate.

Here's to another 500 million users, all potential clients and friends, on Facebook!

Jane Loveday
Licence # 01439083
Pacific Sothebys International Realty
619-519-1615 Cell

http://janeloveday.com 

http://www.facebook.com/realestatesandiego

http://www.twitter.com/sdrealestate