Blog

Monday November 21, 2011 2:40pm Written by Felicia Jerbasi

Been thinking about buying?  New loan limits may have you ready to take that leap.  

Working in concert to meet a tight deadline, Congress and the White House have raised the FHA loan limit in high-cost real estate markets, making it easier to obtain an FHA loan on properties up to $729,750*.

Following passing votes in the House of Representatives and Senate, President Obama signed HR 2112, the Consolidated and Further Continuing Appropriations Act of 2012, into law, renewing the expired higher loan limits for Federal Housing Administration (FHA) and U.S. Department of Veterans Affairs (VA) loans for an additional two years, through December 31, 2013.

The limit to conforming loans was reduced to $625,500 on October 1, 2011, when a previous increase in conforming loan limits expired. With the passage of this legislation, the FHA loan limit has been restored to $729,750. While the loan limit has been increased for FHA loans, the increase does not affect limits for conventional loans backed by Fannie Mae or Freddie Mac.

Higher loan limits give borrowers another home-financing option to consider in high-cost areas of the country, such as California and New York. Borrowers could take out a jumbo loan, which typically requires a larger down payment. They now have the option of using an FHA loan with a lower 3.5% down payment requirement.

?Call me today if you want to get started on the path to owning a home.

Saturday October 22, 2011 8:13am Written by Felicia Jerbasi

This week I recieved a short sale approval letter from One West Bank (Formerly IndyMac Bank) that will pay my seller $10,095 at closing to complete the short sale.  More and more banks are offering sellers cash incentives to complete a short sale rather than let the property go to foreclosure.  Does your mortgage company possibly offer you an incentive?  To date I have seen both Chase and One West Bank offer such incentives in additon to the governments HAFA short sale program which also offers seller incentives at closing.

Want more information? Call me today!  ??Felicia Jerbasi ~ 858.414.1617

Thursday October 6, 2011 8:51am Written by Felicia Jerbasi

If you are looking to purchase an investment property now is the time. Rates this week for investment property purchases are at an all time low, making this your opportunity to become the landlord you have always wanted to be! As we head into the holiday seasons historically sales slow down which means prices will continue to drop - for any investors this is your golden opportunity.  Call me today to see what your options are!

Thursday September 29, 2011 8:51am Written by Felicia Jerbasi

Are you paying upwards of $1500-$2000 a month in rent?  Have good credit and some savings in the bank? You may be able to qualify for an FHA loan with as little as 3.5% down to purchase your first home.  Why throw away rent money -Rates are at a historic low and prices in San Diego can have you in a home you thought you could never afford. 

For example a house that costs you 300k -  with 3.5% down ( FHA) at today's rates could have you with a mortgage payment of just $1468 - That is unbeatable! Why rent when you can be on your way to putting your hard earned savings into a piece of real estate!

Call me today to discuss your options - better to find out now before rates and prices in San Diego are back on the rise!

Tuesday August 30, 2011 12:20pm Written by Felicia Jerbasi

If you have equity in your home and have been thinking you need a bigger house than you are what I would consider a "move up" buyer.  People sitting on equity in their home who are thinking its time for a bigger home, maybe your family has grown and you have outgrown your house or are looking for a new school district as your kids are getting older - if this describes you than this is the IDEAL Real Estate Market in San Diego for you to buy and sell! Rates are STILL at a historic low - 30 year fixed mortgage at 4.25%!  If you have enough equity in your house maybe you can just refinance it and keep it as an investment property with these rates.  There are good deals to be had in this market - inventory from August to September is vey slow to move that means the potential to get a "good deal" is there. 

This is the PERFECT time to talk to a Realtor.

Wednesday July 20, 2011 12:00am Written by Felicia Jerbasi

FHA and Conforming loan limits will drop dramatically on September 30.  What does this mean to you as a buyer? I believe it means if you have been on the fence about buying now is the time. Inventory is up and rates are still at a historic low, and soon with these loan limit changes many buyers may be unable to purhcase the home they desire.

Do you know what you currently quailfy for? This is the first step, to speak with a mortgage professional who can pre-approve you for a home mortgage today. Don't miss out on today's rates and the increasing inventory in San Diego - this is the perfect storm to buy buy buy!

Wednesday June 1, 2011 3:47pm Written by Felicia Jerbasi

Looking to buy a short sale and having difficulty getting your offers accepted?

This is something I hear every day from buyers I talk to.

As an experienced short sale listing agent that has listed and negotiated over 70 + short sale listings in the past couple of years I have found that it is this experience that can truly help the buyers I work with get their offers accepted.

I hear over and over from buyers that they have written multiple offers in the past few months only to find themselves still looking to buy a home. Frustrated and wanting to take advantage of low interest rates and declining prices but getting nowhere fast – what is a buyer to do? It is these buyers who should realize it may be time to find an agent who has experience on both sides in the unfamiliar market of short sales.