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San Diego County 4th July 2009 Firework Displays
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It’s that time of year again - SIZZLING HOT summer weather and time for San Diego County to celebrate 4th July. Where ever you live in San Diego County there will be firework events to enjoy. Did you know that San Diego has been selected as one of the top ten places in the Nation to celebrate 4th July?
There have been some cancellations due to the tight budget restraints but for the most part Fireworks are as usual. We have put together a list of the displays scheduled throughout the County of San Diego. So just for one day let your cares slip away, get out of the house, drop the chores, relax kick back with your family and friends and enjoy 4th July. Read the rest of this entry »
Related Posts: Activities & Events, Entertainment, Poway
When Can I Buy A Home Again After Foreclosure or Short Sale?
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When Can I Buy A Home Again After Foreclosure or Short Sale?
The answer to this question has been very vague until now. Finally here are some answers to questions so many Californians are asking.
This article expands on an earlier post we wrote “Short Sale? Foreclosure? What should I do? and helps to clarify what the differences are and where your credit stands after you have experienced one of these situations.
This information comes directly from the California Association of Realtors legal department.
One of the concerns a consumer has after experiencing a bankruptcy, foreclosure, or short sale (referred to as a “preforeclosure sale” by Fannie Mae) is the ability to obtain credit to purchase another home. Fannie Mae has updated its credit guidelines. This legal article summarizes those guidelines.
Q 1. How long is the time period after a foreclosure before a consumer can be eligible to obtain credit to purchase a home?
A Five years from the date the foreclosure sale was completed.
Additional requirements that apply after 5 years and up to 7 years following the completion date are as follows:
. The purchase of a principal residence is permitted with a minimum 10 percent down payment and minimum representataive credit score of 680.
. Purchase of a second home or investment property is not permitted.
. Limited cash-out refinances are permitted for all occupancy types pursuant to the eligibility requirements in effect at that time.
. Cash-out refinances are not permitted for any occupancy type.
(Source: FNMA Announcement 08-16, 6-25-08 )
Q 2. Why do the additional requirements for foreclosures in Question 1 only apply from 5 to 7 years following the foreclosure completion date?
A According to Fannie Mae policy in Part X, Section 103 of the Selling Guide, Fannie Mae requires only a 7-year history to be reviewed for all credit and public record information. The 7-year timeframe also aligns with the information provided by the borrower on the loan application relative to disclosure of a past foreclosure action. (Source: FNMA Selling Guide, 4-1-09. )
Q 3. Does a shorter time period apply if the borrower has “extenuating circumstances” that led to the foreclosure?
A Yes. Three years from the date the foreclosure sale was completed. The same additional requirements apply as listed in Question 1 except the minimum credit score of 680 is not required. (Source: FNMA Announcement 08-16, 6-25-08. )
Q 4. What are”extenuating circumstances” ?
Related Posts: Financial news, Foreclosures, Home Loans, Mortgage News
Valley Center Homes Sold March 2009
Posted by Pam & Joanna | Leave A Comment »
Valley Center Market Trends
As everyone knows, if you are looking at the current real estate market, there are several factors going on here.
The most frustrating being the Short Sale. We commented on this a few weeks ago in our article, APPROVED Short Sales Increase in North San Diego County.
So Lets take a look at what is happening in Valley Center with short sales.
Of the 108 current active listings only 35 of them are short sales. That means you have 73 other homes ready, willing and able to accept your offer.
Of the current 56 pending listings, 19 of them are short sales, so that means that 37 Valley Center home buyers are sailing through an escrow right now with no need to get the approval of the lender on the home.
Of the 13 Sold listings only 2 were short sales. We would like to see this number increase in the months to come. I believe it will, based on the 19 pending short sales we are looking at in this chart today.
Check back with us in May for the final story on April Statistics and see for yourself.
Related Posts: Area Information, Area Statistics, Foreclosures, San Diego, Short Sales, Valley Center
Escondido, North County San Diego, Renaissance Faire
Posted by Pam & Joanna | Currently 1 Comment »
If you are looking for something to do this weekend , April 25th is the first day of the Escondido Renaissance Faire, also May 2nd and 3rd will be the 2nd weekend for this local family event.
Everyone comes in costume, mostly period recreations from 14th -16th century England, from Royalty to Pirates, Shakespeare plays, Battle Pageants, Jugglers and live music, the list goes on and on. There’s something for every taste and its lots of fun!
You can also enjoy a variety of interesting foods,wines and ales while relaxing at this great event. With around 52 different vendors you won’t go hungry or thirsty.
Visitors are encouraged to come in some kind of period costume, just so you can feel a part of this event, travel back in time and feast on fabulous cuisine throughout the day.
For more info on this fun event click here
Felicita Park,Escondido,CA 92025
April. 25th – 26th & May 2nd – 3rd 2009
10a.m to 6p.m each day
Related Posts: Activities & Events, Escondido
14268 Pebble Beach Way Valley Center, CA 92082
Posted by Pam & Joanna | Leave A Comment »
Ring Tailed Tooter Of The Week
Just Sold For $376,000
Fabulous Home Sold- Woods Valley
This little cutie is over 3500 SQ. FT. with 5 bedrooms, 4 baths, 4 car garage, sits on over 1/3 acre and built in 2005.
Located in the prestigious Woods Valley Estates, gated, golf course community.
.
Just a few short years ago, these homes sold for well over $700,000.
This great family home was just stolen last week for $376,000!!!
Valley Center is one of the latest and hottest Real Estate markets in San Diego County.
There are not too many places right now that you can purchase a home of this caliber, in this type of community, which have that country feeling, but are literally minutes to city conveniences in San Diego County.
If you are thinking about jumping into this NOW Red Hot market, give us a call and we will give you a tour, you will be pleasantly surprised at what you will find.
We are here to help and we answer our phones!
Pam and Joanna
760-580-1615 or 760-580-1530
Related Posts: Area Information, homes for sale, Valley Center
