Last Months Home Sales

Here are last month's home sales...http://www.dqnews.com/Charts/Monthly-Charts/SDUT-Charts/ZIPSDUT.aspx

Military: Put Your BAH Pay to Work for You

Military: Put Your BAH Pay to Work for You. VA Home Loans = No $ Down
VA Loans: 100% Financing & Great Rates Take advantage of this market

If you are in or have served in the military; it’s a great time to buy. You are eligible for 100% financing and competitive rates with a VA loan. Your mortgage payment could be less than your rent!

858-485-6100 x 102 David Cummins

Rent vs. Mortgage

There are condos in San Diego for sale starting in the low $100,000.00’s. I just closed a loan for a condo in Oceanside, the sales price was $89,000.00!

There are houses in San Diego for sale starting in the low-mid $200,000.00’s

Your estimated payment*:
$100k = $640.00 a month including property taxes!
$200k = $1281 a month including property taxes!
$300k = $1922 a month including property taxes!


(*Payment example is based on 30 year fixed mortgage at 5% interest. Rates are subject to change without notice. Payment does not include any insurance or HOA fees. Property taxes calculated at 1.25%)

San Diego Home Prices

The median price of a home in San Diego is $295,000.00. Today, in San Diego 50% of San Diegans can afford a median priced home. That's up from only 9% just three years ago! With rates staying low, home prices staying low, and the feds offering an $8000 tax credit; its an opportunity in real estate that is unrivaled.

Have you thought about buying? Unsure if you can afford the payments? Call me. Tell me what you can afford each month and I will tell you what price range you should be looking at and how much you will qualify for. 858-485-6100 x 102

HVCC Petition

Check it out and then sign it if you agree: www.hvccpetition.com/

Rates down slightly... but last week set highest since Nov 2008

Rates last week hit the highest since November 2008. We were all pretty spoiled in the mid-high 4's. And when rates shot up to from 4.75 to 5.75 in a day-panic ensued, (2 weeks ago). But were down a little today. Basic Economics tells us that too much supply of Mortgage Backed Securities and not enough demand from buyers will cause this....The government says that they will be buying more MBS in order to keep rates low...time will tell. But-don't forget-that historically, low to mid 5's is still really low.


Dave

California "new construction" tax credit

The California "New Construction" tax credit is almost out funds....which may be a good thing in that it shows that A. People are buying homes again and B. The tax incentives are working. Of course the Fed's "first time buyer" tax credit is still available to all qualified recipients until December 2009. More info on that here: http://www.federalhousingtaxcredit.com/2009/faq.php#1

Here's a CNN article saying there's only 20% of funds left!
http://money.cnn.com/2009/06/12/real_estate/10000_California_tax_credit/index.htm?section=money_realestate