How important is a blog anyway?

I need to focus on my blog more. I want to present current relevant information on San diego real estate and National real estate issues. I would appreciate any and all feedback and feel free to express an oponion.

If you know someone in trouble with their mortgage, have them visit www.knowyouroptions-sd.com .  If you are looking to move or invest please call me at 619.985.6528 or visit my website at www.athomeinsd.com .  In the meantime, if you are interested in bloggin, read the following.

by Dr. Jeffrey Lant

It is fitting and proper that we recall the great events of our Republic, events that remind us of where we have been and exhort us to where we are going.

Such an event was President-Elect John Fitzgerald Kennedy’s celebrated speech known as “A City Upon a Hill.”

Kennedy made this speech just days before he assumed his “high and lonely” office in the capital. And, as so often in one of his speeches, there were many elements present, some celestial, others less serious, even puckish, all quintessential Kennedy.

Who was there?

First of all, every politician in politician-filled Massachusetts was present for this speech, which was given in the Victorian ornateness of the House of Representatives in a joint session with the state Senate.

Each and every one of these politicos, each one in his best bib and tucker, came to learn, came to scrutinize, came to imitate, came to see what made this oh-so-favored son of Boston tick. So they could do it, too. This speech, this whole shebang, was an opportunity to learn from the very best, and all were determined to make the most of this once-in-a-lifetime opportunity.

Who wasn’t there?

Conspicuously absent was the man who, more than anyone other than Kennedy himself, made it all possible. Joseph P. Kennedy it seems did not attend. Already, the Kennedy’s knew, no one more than Joe himself, that he was to be, had to be, the power behind the throne if the new regime was to flourish. His reputation as wire-puller, boot legger, with a whiff of Nazi sympathy made it necessary for him to remain firmly behind the scenes. Joe was ok with this. It was the devil’s deal he made for his son and the glory of Kennedy.

Who wrote the speech?

It seems, though absolute certainty may stay elusive, that Kennedy’s speech writer Theodore Sorensen wrote this speech. If so, it would hardly be surprising. Sorensen had a gift for simple, graceful prose as he had proved in the writing of “Profiles in Courage”. Sorensen was coy throughout his life (he died in 2010) about whether or not he wrote this Pulitzer Prize winning book; (he was constantly, annoyingly asked). He always said no… but the cognoscenti doubted.

Sorensen was the ultimate loyalist;  he was accustomed to giving his all… and he wrote prose the President-Elect liked and could deliver with ease, elegance, and persuasion.

Why John Winthrop?

Governnor John Winthrop was a man of parts, a thoughtful man, a man of guts and grace, a man in communion with God who needed all his wits not just for getting his people to the new world of Massachusetts… but making sure they knew what to do when they arrived. It was a matter of urgency and the deepest possible significance.

Towards this end he wrote in 1630 a document which he called “A Model of Christian Charity.” It was in fact a series of admonitions about how citizens of this clean, unblemished new world should behave. And John Winthrop minced no words.

One can picture the scene as Governor Winthrop assembled his flock on the main deck of that little ship of fate and read the portentous words that defined who they were, what they were doing, and why it mattered so. It was a scene of importance and they all knew it; they gave their leader their full attention as he moved to the ringing conclusion he gave them and to the ages to come:

“For we must consider that we shall be as a city upon a hill. The eyes of all people are upon us. So that if we shall deal  falsely with our God in this work we have undertaken, and so cause Him to withdraw His present help from us, we shall be made a story and a by-word through the world.”

Governor John Winthrop was determined this should not happen… and John Fitzgerald Kennedy was determined, too, as he plucked this phrase and launched it as a missile into a future as murky,difficult, and grave as Winthrops’s.

And so the President-Elect walked purposefully to the podium, his every move and action the subject of scrutiny and comment.

He was, much of America thought, too young (43), too inexperienced, with a religious affiliation that troubled many and appalled some. He had much to prove… but John F. Kennedy was an historian. He understood History, and on this day he knew he would make it. Thus he began, revealing his vision for the politicians in attendance, the whole of Massachusetts, and for every citizen in the nation he was about to govern.

There were words of pride as when he cited Pericles’ resounding boast to the Athenians: “We do not imitate — for we are  a model to others.”

There were his words of inspiration and hope that the “enduring qualities of Massachusetts” as embodied in “the common threads woven by the Pilgrim and the Puritan, the fisherman and the farmer, the Yankee and the immigrant” would truly merge and renew the rich heritage of the Commonwealth, now atrophied and in danger.

There was the famous charge to all the legislators and statesmen before him… and all those who were watching from afar, reminding them all that “For of those to  whom much is given, much is required.”

And then, finally, there were the 4 famous questions:

“First were we truly men of courage…

Secondly, were we truly men of judgement….

Third, were we truly men of integrity….

Finally, were we truly men of dedication — with an honor mortgaged to no single individual or group….?”

Humbly,  he then asked for God’s help in this undertaking “but aware that on earth His will is worked by men.”  Yes, he asked for the help of all “as I embark on this new and solemn journey.”

Then,  his words hanging in the air, the applause of his audience rising, he descended from the podium and moved on,  setting out upon his voyage; a man aware of the nation’s great trust and his great responsibility.

Good news for San Diego!

rising housing

The credit Union times report came over the wire as follows:

A firm which tracks real estate trends expects some parts of the U.S. to see significant improvements in their real estate prices this year.

Veros Real Estate Solutions, a software and analytic firm that tracks real estate trends, has forecast that certain markets will see between a 2.5-3.5% increase in real estate prices. Areas with the strongest markets were forecast to include Washington State’s tri-city area, Pittsburgh, Pennsylvania, Fargo, North Dakota, and the Washington D.C. metro area. But Orlando, Florida, Reno, Nevada and Boise, Idaho were forecast to experience the nation’s greatest depreciation rates in the coming 12 months, a trend which continues from prior periods, the firm said.

Significantly and good news for CUs in the San Diego, California area, real estate prices in that city were forecast to see a 3.5% jump in prices this year.

If you are having mortgage problems, please visit www.knowyouroptions-sd.com . For all of your real estate needs in San Diego, please visit our website at www.athomeinSD.com

Refinance vs. Prepayment in Today’s Mortgage Marketplace

refinance

Need mortgage help from government, mortgage assistance from government agencies, or mortgage reduction programs? Refinance vs. Prepayment in Today’s Home finance loan Marketplace

Every single so often I get asked exactly the same question “Is there a difference between re-financing and basically creating added property finance loan payments?” The reason that this question confuses individuals is that it doesn’t often have exactly the same answer. Knowing whether prepayment or refinancing is greatest for you personally will probably depend a great deal on your personal house loan predicament. In case you have a particular question about your home loan, I suggest you ask our resident Mortgage loan Professor, Jack Guttentag.

You’ll find numerous aspects of your mortgage that you just may need to have to think about to come across out if a re-finance or prepayment is the right choice:

     mortgage help from government is available through the government mortgage reduction program, don’t miss out on your chance for mortgage assistance from government

    * Details Paid: Should you have paid details originally on your home owner loan, then prepayment will raise your effective interest rate.
    * Change the Term: Refinancing can substantially lower your term length. If this is your goal the result can be a very much increased savings over prepayment. Obviously, your monthly payments may also improve after you shorten your phrase.
    * Count on Closing: Unlike prepayment, a re-finance includes a variety of closing charges. These ought to also be added having a refinancing to figure out which is best for you personally. Typically, the longer you expect to remain in your house, the a lot more sense it makes to refinance.

With very low interest rates and also a variety of alternatives for home owners having a high LTV (loan-to value) ratio, finding a refinance isn’t as difficult as you might believe. In contrast to prepayment nonetheless, it could take added time to organize at the same time like a lot more paperwork. Producing the proper selection can depend on just how a lot you might be seeking to save inside long haul.

You have the choice to have your re-finance repaying off all of your Non-Recurring Closing Costs on most refinances. That is frequently known as being a No Things No Charges (NPNF) Re-finance. you may will need to accept a slightly higher rate than a normal No Details mortgage loan as a way to obtain a No Closing Price Refinance. Normally around 250% to .500% greater.

Non-Recurring Closing Costs including : Recording Costs, Escrow Charges, Title Insurance policies, Broker Charges, Lenders Fees, Credit Document, and Appraisal Fee. Whilst insurance policies, interest, and home taxes don`t qualify as Non-Recurring Closing Costs.

In case you happen to become short on cash to close on a buy or planning to own home less then five many years, then a no price bank loan might be ideal to suit your needs. By simply hunting in the big difference within your payment for a no cost home loan vs. a mortgage loan with fees and then dividing that difference in to the sum of non-recurring closing charges that you would likely need to pay at closing, it could be uncomplicated to calculate your break-even point. This can convert the numbers of months demanded to re-coup the expense with the closing charges from the result of this calculation and that from this you can make comparison on the time frame to the length of time you decide living within the house.

The Comparison of No Charge Loan

Let’s examine a scenario shown above that compare a zero stage mortgage with no expense mortgage. You’re thinking on 2 factors provided on a $300,000 loan. Alternative A is often a no expense bank loan in the rate of 6.25% and a defrayment of  $1,847 compared to choice B, a home loan with zero stage with a rate of 6.00% and based on non-recurring closing expenses of $2,800 and a monthly defrayment of  $1,799. The amount of $49 per 30 days would likely be the distinction in payment and in the event you divide this big difference into the closing cost`s base of $2,800, the months needed to achieve break-even (BE) or recoup the costs is 57.73 months. In order to annualized the equation and it would likely take 4.81 years to re-coup the fees of the zero stage mortgage vs. the no charge mortgage loan, then divide the number of months by twelve. It is considered to be the most sense by taking the no charge bank loan. Now let`s compare the base closing fees using the no expense bank loan too as details. As soon as again possibilities a is at no cost and has a rate of 6.25%.

At 1 stage plus base closing fees of $2,800, choice c has a rate of 5.75%. The entire non-recurring closing fees (NRCCs) with the point would be $5,800 and the defrayment under choice C would certainly be $1,751. While using non-recurring closing fees (NRCCs) becoming paid by the financial institution (or already included within the rate), the payment under alternative A is $1,847. it would likely be $96 per 30 days in the big difference in payment plus the closing charges would certainly equal 60.15 months soon after divided in to the $5,800, which divided by twelve months to annualized, to accomplish break-even would take  five.01 years. The no price bank loan is really a make sense choice for being provided the fact that a house proprietor will tend to refinance within 5 many years and given time value of funds.

Good news for our men and women in uniform:

 

Military Tax Credit Extension for any active veterans who served overseas for over 90 days between 12/08 and 5/10 can qualify for the same home buyer tax if they are in contract to purchase by April 30th, 2011 and complete the transaction by June 30th, 2011. http://www.federalhousingtaxcredit.com/service_mem.php

Extension passed!

congress

The congress has extended the home buyer tax incentive closing date to September 30th.  For everyone that met the initial guidelines and was under contract by June 30th but were unable to get the transaction closed, you now have a few more months to get the deal finalized. Mostly this applies to short sales since anyone under contract with a “normal sale” by april 30th is probably closed! ( yes there are exceptios, but now they can get it done too!)

  There will be no gap between June 30 and the date the President signs the bill into law.  It appears for now, that since California’s money is just about spent, that there might not be another round. The housing market is now left to make it on its own.

If you need all of the details on the federal tax credit, visit this site.  For information on the California credit (technically still available) you can get all of the information here

More tomorrow,

Alan

$18,000 for California Buyers – Limited Window of Opportunity!

Homebuyers in California have a brief window of opportunity to receive up to $18,000 in combined federal and state homebuyer tax credits.  To take advantage of both tax credits a first-time homebuyer must enter into a purchase contract for a principal residence before May 1, 2010 and close escrow by June 30, 2010.

Buyers who are not first-time homebuyers may use the same timeframes to receive up to $16,500 in combined tax credits if they are long-time residents of their existing homes , and they purchase properties that have never been previously occupied as provided under California law. 

Of course their are rules and requirements so we suggest you see your tax accountant to make sure you do everything “by the book”. In the mean time, call me and…   Let’s go find a house

Short Sale – The “in” thing to do!

No, not if you don’t have to, but foreclosure is for the uninformed, or those who just don’t care. The short sale option is the only way to go if you can’t get a modification that you can afford. Sell the place and find yourself a nice rental for a short time and then take advantage of the market prices and interest rates and buy a place you CAN afford.

Here is an interesting article from CNN. http://money.cnn.com/2010/03/29/real_estate/short_sale_explosion/index.htm?section=money_realestate&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+rss%2Fmoney_realestate+%28Real+Estate%29 

Please call me if you have any questions at all!

Greenspan says housing has hit bottom!

It will be nice to see housing start a slow methodical climb.

Former Federal Reserve Chairman Alan Greenspan says U.S. house prices appeared to have bottomed out but were still fragile and that the country would not be out of crisis until prices stabilized.

While the economy is recovering, worries linger about continued weakness in the housing and labor markets.

The direct quote from Mr. Greenspan:

“We will not be out of this crisis until home prices truly stabilize in the United States. They appear to have stabilized but they are very fragile,” “Eventually housing will come back, it can’t get any lower,”

This was stated by Greenspan in a conversation with Mexico’s former Central Bank Governor Guillermo Ortiz.

The “it can’t get any lower” is the best part of the news, but it seems he expects a period of stabilization before growth.

Anyway,  interest rates are low, prices are at 2003 and 2004 levels and there are plenty of government incentives around.  Go find a place to buy.  Want one in San Diego?  Call me!

In your entire lifetime, this may be the single best buying opportunity.

Interest rates are incredibly low- historically low. REO’s and short sales are all over the place  -  FIND SOMETHING.

The largest expense in your lifetime and you can get a real bargain. You know what the worst part of this is? In 5 or 10 years 90 % of you will be saying I wish I had,  I should have , if only I had,  I wish you had told me.

I am telling you  -  buy something now. There are FHA loans with 3.5% down and other loans with 5% down.

The other 10% will be rich and comfortable because you DID while others watched.

visit my site at   www.athomeinsd.com

Have an incredible day

Alan

It is all about the Short Ones!

Foreclosure is passe.  Nobody does those anymore – they are for previous generations.    We are in a position to make this a reality.

Short sales have become the largest category of distressed property transactions, accounting for well over a third of these transactions, according to the latest Campbell/Inside Mortgage Finance Monthly Survey of Real Estate Market Conditions.

I can’t stress it enough  – call a rwaltor and do a short sale  – compared to foreclosure, there is NO downside.

Short sales have become a preferred means of resolving mortgages in default, both for large lenders and for the government agencies supporting lenders’ efforts. Short sales typically result in lower lender losses and houses left in more saleable condition.

Moreover, borrowers that agree to a short sale can often buy another house with mortgage financing after only two years. For borrowers going though the foreclosure process, mortgage financing can be unavailable for a period of five to seven years.

Want to discuss it?? Call me today – from anywhere – I’ll find you an agent and probably someone to buy your house and if you are in San diego, Your in luck, my team of experts will make it happen for you.