As Demand Cools Down, Housing Inventory Shoots Up in the Bay Area

There is an interesting insight into the homes on the market in the South Bay area. For the Santa Clara County, between the years 2014 and 2018, 90 out of 100 homes on the market in April and first half of May got sold. Compare this to 2019, when for the same period, only 33 out of 100 homes on the market sold. We are talking a drop of some 63%. No mean stat! Just goes on to prove that buyers have become choosy. They are not averse to waiting and while it…continue reading →

Can you Increase your FICO Scores with Timely Rent Payment?

Renters have outnumbered homeowners in more than 20 big cities. Between the year 2006 and 2016, the number of renters has shot up by 8.7 million (data based on Pew Research Center). These are not numbers to be sneezed at. With renters becoming hot property, it is only significant that timely rental payments get their due recognition in credit reports. Timely rental payment can boost credit score We have all witnessed how our credit scores get a boost when we pay our mortgage dues on time. Same is the case with credit card…continue reading →

How the FHA Streamline Refinance Program Can Help You

Many home buyers find that an FHA home loan is the best way for them to obtain a mortgage. They are able to enjoy the benefits of homeownership without having to put down a large down payment and do not have to have a super high credit score. The FHA has more products and programs than just loans for first-time buyers, however. The FHA streamline refinance program is one of the most popular. If you currently have an FHA home loan and would like to refinance, the FHA streamline refinance program may reduce…continue reading →

Top 10 Housing Markets for Millennial Home Buyers; TX Takes Top 3 Spots

Flamboyant, fast, and with a fleeting focus! This was the stereotype associated with Millennials about a decade ago. Not that they cared! A decade has rolled by, and today, the Millennials’ pilot batch is closing on its 40thyear. Naturally, Generation Y has sobered down a lot. This explains why the largest living generation of our times is looking seriously into home ownership. Their voice is growing in the housing sector and they are making a higher and higher percentage of the First Home Buyers. Gen Y makes up for 45% of new mortgages,…continue reading →

10 Things about Credit Score Everyone Needs to Know – My #TwitterChat with @Experian

Q1: What is a credit score? A1: Credit Score is a 3-digit number created by 3 major Bureaus – Experian, Equifax, and Transunion which represents your creditworthiness. The higher the score, the more likely you will repay your debts. Q2: How do you check your credit score and is it free? A2: The Fair Credit Reporting Act (FCRA) requires each of the 3 major bureaus — Equifax, Experian, and TransUnion — to provide you with a free copy of your credit report, at your request, once every 12 months. You can also enroll for free credit score monitoring…continue reading →

Jumbo Loans Can Help More Home Buyers in 2019

Since the real estate market is always changing, the Federal Housing Finance Agency (FHFA) evaluates the maximum loan limits for conforming loans each year, including jumbo loan amounts. 2019 has seen an increase in the conforming loan limit to $484,350 for a single family home. In areas where the median home prices are well above the national average, the maximum amount for a conforming loan is $726,525. Jumbo Loan Amounts May Vary by Location In 2018, the maximum was $453,100 for most areas, and in 2016 it was $424,100. So we can see…continue reading →

Top 10 Real Estate Markets for First Time Home Buyers

Home prices have completely stabilized and the shortage in housing supply is fast becoming a thing of past. Great news then for potential homebuyers who have come right into the mix! Only time will tell whether we are nearing the tail-end of the present cycle but from the looks of it, the market is certainly becoming a lot more receptive for new buyers; not only in terms of median values but also in terms of asking price quoted by sellers. Starter homes were definitely cramped in the recent past but the situation has…continue reading →

My 2019 Predictions for Mortgage Rates, Home Prices, and Stock Market

"It's tough to make predictions, especially about the future" - Yogi Berra And when it comes to predicting Stock Markets, Home Prices, and Mortgage Rates, well, it becomes tougher.  All three are impacted by such myriad of geopolitical and economic news and the emotions resulting from them that it's virtually impossible to foresee all of the variables at the beginning of the year. With that caveat, let's dive into where we are at the beginning of the year and where we are heading or at least where I think we are heading. 2019 Dynamics…continue reading →

2019 FHA Mortgage Loan Limits for all Counties in Georgia (GA)

APPLING 1 Unit - $314,827 2 Unit - $403,125 3 Unit - $487,250 4 Unit - $605,525 ATKINSON 1 Unit - $314,827 2 Unit - $403,125 3 Unit - $487,250 4 Unit - $605,525 BACON 1 Unit - $314,827 2 Unit - $403,125 3 Unit - $487,250 4 Unit - $605,525 BAKER 1 Unit - $314,827 2 Unit - $403,125 3 Unit - $487,250 4 Unit - $605,525 BALDWIN 1 Unit - $314,827 2 Unit - $403,125 3 Unit - $487,250 4 Unit - $605,525 BANKS 1 Unit - $314,827 2 Unit -…continue reading →

2019 FHA Mortgage Loan Limits for all Counties in Texas (TX)

ANDERSON 1 Unit - $314,827 2 Unit $403,125 3 Unit -$487,250 4 Unit - $605,525 ANDREWS 1 Unit - $314,827 2 Unit $403,125 3 Unit -$487,250 4 Unit - $605,525 ANGELINA 1 Unit - $314,827 2 Unit $403,125 3 Unit -$487,250 4 Unit - $605,525 ARANSAS 1 Unit - $314,827 2 Unit $403,125 3 Unit -$487,250 4 Unit - $605,525 ARCHER 1 Unit - $314,827 2 Unit $403,125 3 Unit -$487,250 4 Unit - $605,525 ARMSTRONG 1 Unit - $314,827 2 Unit $403,125 3 Unit -$487,250 4 Unit - $605,525 ATASCOSA 1 Unit…continue reading →