FHA will tighten credit standards
Although the Federal Housing Administration (FHA) has confirmed that as of Sept. 30 it will fall short of its legal requirement to maintain supplementary reserves of 2 percent of the loans it insures, FHA Commissioner David Stevens says that it will not be seeking a taxpayer bailout. Instead, to help mitigate losses, the FHA will tighten credit standards to rebuild the cushion to 2 percent or more, without raising the premiums borrowers pay or seeking an increase in its down-payment requirement of 3.5 percent. Under the new rules, lenders making FHA-insured loans would need to show net worth of at least $1 ...
Property Taxes in Los Angeles – Everything You Wanted to Know!
Even though property tax payments are due in two installments, they are mailed to home owners once a year. You should receive your tax bill by November 1. California state law makes it your responsibility to pay the taxes whether or not you receive a bill. So... if you have not received your home's tax bill, please call 1-888- 807-2111 to request a Substitute Tax Bill. The first property tax installment has to be postmarked by December 10th and the 2nd installment has to be postmarked by April 10th. If you miss these dates, your property tax bill will ...
Home Buyers – 9 Things NOT to Do!
Having sold homes in and around Pasadena California for many years now, I’ve seen a lot of situations where Pasadena home buyers find a home of their dreams, but somehow going through the steps of the home purchase they make decisions that jeopardize their transactions. If you are thinking of buying a home in Pasadena or are in the middle of a real estate transactions, I am hoping that these home buying tips will help you. They are not in any particular order, but each of them is critical and important in their own way. Do NOT, and I mean, absolutely do ...
Buyers
5 Easy Steps to a Credit Makeover
If you are considering homes for sale in Pasadena or the Greater Los Angeles area,...
FHA will tighten credit standards
Although the Federal Housing Administration (FHA) has confirmed that as of Sept....
Property Taxes in Los Angeles – Everything You Wanted to Know!
Even though property tax payments are due in two installments, they are mailed to...
Read More Posts From Buyers
Sellers
Listing Your Pasadena Home? Photos Sell Homes!!!
The California Association of Realtors findings show that ˜Multiple photographs/Slideshows...
How to Sell My Pasadena Home – Part II
In the previous post, How to Sell My Pasadena Home, we discussed the basic formula...
How to Sell My Pasadena Home – Part I
So you’re thinking of selling your Pasadena home. Great! You’ve come to the right...
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Market Reports
Fed Leaves Key Interest Rate UnchangedFederal Reserve System Press Release Date: September 23, 2009 The Federal Reserve this morning announced it will maintain its target for the federal funds rate in the 0 percent to 0.25 percent range, and expects economic conditions to warrant exceptionally low levels of the federal funds rate for an extended period of time. “Information . . . suggests... [Read more of this review]
Real Estate News Around the Nation – September 18, 2009
California: Los Angeles Times: California’s unemployment rate rises to 12.2% By Alan Semuels 09/18/2009 Despite signs an economic recovery has begun in the state, California’s unemployment rate inched up in August, once again setting a new postwar high at 12.2%. National: San Francisco Chronicle: Gov’t home loan agency faces... [Read more of this review]
Pasadena Real Estate and Housing Analysis – Homes for Sale 2003- 2008
Pasadena real estate housing market has been on a bumpy ride in 2008, as we enter 2009, it’s always interesting to look at historical trends. Every month, we, at Pasadena real estate blog, try to bring you a statistical report highlighting Pasadena housing trends. For comparison purposes, we’d like to look at December’s 2008 Pasadena... [Read more of this review]
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