4 bedrooms 3 bathrooms with his and hers basins. Newer appliances and granite counters in updated kitchen. 2,769 sq ft of comfortable living space. Central cooling a 2-car garage and a pool. In a beautiful Fresno neighborhood. This home is larger than any of its comps and is priced $50K below nearby homes - Serious buyers email: eferg.group@yahoo.com for more information today as this will be gone tomorrow.
Tuesday, May 27, 2014
Thursday, September 23, 2010
GRANADA HILLS POOL HOME FOR SALE
Saturday, November 14, 2009
INVESTOR SPECIAL - 4bd 2ba Home
Here are interior pictures of the Investor Special 4bd 2ba Investor Special - Looking for a Wholesale Investor and or a Cash Buyer - Great home with 25% + equity priced for fast sale (310)916-7353
Tuesday, November 10, 2009
HOMEBUYER TAX CREDIT:Extended & Expanded
Last Friday President Obama signed into law legislation that in effect not only extended,but expanded the tax credit first time home buyers have been accessing.The legislation,to extend unemployment benefits to workers makes it possible,as well, for a vast increase in the number of people who can now qualify for home buyer credits as income limits has been appreciatively increased.
The extension which now lasts through April 2010 has been expanded to now include current homeowners as well. Under the expanded program Americans who presently own a home may qualify for as much as $6500 tax credit when they buy a new home during the life of the program (military personnel serving overseas have more time).Homeowners who choose to participate in the expanded program need not sell their current homes,they are however,required to live in the new home as their primary residence for not less than three years after purchase.
This new but expected development is seen as an added boost for the US housing and mortgage markets,coming at a critical juncture in time,to further energize the national housing and mortgage industries.
The extension which now lasts through April 2010 has been expanded to now include current homeowners as well. Under the expanded program Americans who presently own a home may qualify for as much as $6500 tax credit when they buy a new home during the life of the program (military personnel serving overseas have more time).Homeowners who choose to participate in the expanded program need not sell their current homes,they are however,required to live in the new home as their primary residence for not less than three years after purchase.
This new but expected development is seen as an added boost for the US housing and mortgage markets,coming at a critical juncture in time,to further energize the national housing and mortgage industries.
Saturday, November 7, 2009
GREAT INVESTOR SPECIAL
Beautiful 4bd 2ba home home in Los Angeles with cement driveway full length of building and 2-car garage spaces.Ceramic Tile and Carpeted Floors; Hedges and Lawn need a little TLC - Building area 1,357 sq ft., Lot Size 3,920 - Quiet neighborhood, close to shopping, parks, schools and freeways. Move-in ready, perfect for first time homebuyer or handyman investor Priced to sell - Call (310)916-7353 or email: eferg.group@yahoo.com for details
Tuesday, May 5, 2009
MORTGAGE LOANS: What AboutThose Seconds?
I was talking with Rhonda, remember her? She is the lady in my office who makes things happen...she is like that...she makes things happen - things gets done! Anyhow,as usual we were talking about the economy (who isn't?),and its impact on our industry,the mortgage/housing industry. I was in the process of delivering my analysis of how I saw events developing over the next 12-24 months in the industry....you know....the usual....home value....interest rates....credit availability, etc., etc.
Last Thursday I attended a seminar conducted by Wells Fargo Bank, here in Los Angeles. Wells Fargo needed to inform its Broker Correspondents,who originate Home Loans with them of how they intend to participate in the Freddie Mac Relief Refinance Mortgage program and the Fannie Mae DU Refi Plus program. These programs are the brainchild of the Obama Administration, in its continued efforts to stem the tide of foreclosures across the nation.
These programs, all conforming loans,however,does not consider second trust deeds. Wells Fargo and other financial/lending institutions participating in the program are not allowed to consider second mortgages under this refinance program - for both Fannie and Freddie Total Loan To Value (TLTV) is unlimited. The first trust deed, however may be refinanced up to 105% of value (LTV),with certain restrictions attendant.
Borrowers, I was about to explain to Rhonda are allowed to bring in their own funds, even gift funds,if their Loan To Value (LTV) on their first is greater than 105%....as if she did not hear my words.... and I know she did....the lady went straight to her point.....but Erle, she said...what about those seconds... all those seconds that are coming to the end of their term...those seconds on the jumbo loans...what happens when those rates go up? I don't know Rhonda! Are you thinking that we will see another series on foreclosures, in the jumbo market? That's what you now have me thinking....yes,indeed! What about THOSE Seconds...oh!boy...help me Rhonda, help.... help me.... Rhonda.
Last Thursday I attended a seminar conducted by Wells Fargo Bank, here in Los Angeles. Wells Fargo needed to inform its Broker Correspondents,who originate Home Loans with them of how they intend to participate in the Freddie Mac Relief Refinance Mortgage program and the Fannie Mae DU Refi Plus program. These programs are the brainchild of the Obama Administration, in its continued efforts to stem the tide of foreclosures across the nation.
These programs, all conforming loans,however,does not consider second trust deeds. Wells Fargo and other financial/lending institutions participating in the program are not allowed to consider second mortgages under this refinance program - for both Fannie and Freddie Total Loan To Value (TLTV) is unlimited. The first trust deed, however may be refinanced up to 105% of value (LTV),with certain restrictions attendant.
Borrowers, I was about to explain to Rhonda are allowed to bring in their own funds, even gift funds,if their Loan To Value (LTV) on their first is greater than 105%....as if she did not hear my words.... and I know she did....the lady went straight to her point.....but Erle, she said...what about those seconds... all those seconds that are coming to the end of their term...those seconds on the jumbo loans...what happens when those rates go up? I don't know Rhonda! Are you thinking that we will see another series on foreclosures, in the jumbo market? That's what you now have me thinking....yes,indeed! What about THOSE Seconds...oh!boy...help me Rhonda, help.... help me.... Rhonda.
Friday, April 24, 2009
LOWER MORTGAGE RATES: The Bernanke Factor
"Americans are taking advantage of interest rates near record lows to trim monthly mortgage payments as mounting job losses and plunging wealth pinch household budgets. Policy steps to cut foreclosures and unclog credit markets may ease the housing slump and help revive economic growth later this year."Shobhana Chandra,April 22 (Bloomberg).
Two other Bloomberg writers, Brian Louis and Kathleen M. Howley in their piece published two days ago, quoted Robert Edelstein, a professor at the Haas School of Business at the University of California, Berkeley as saying "Home loans may go as low as 4 percent if the economy worsens." "Record foreclosures,falling home prices and an economy that has lost 5.1 million jobs since December 2007 will pressure Bernanke to further reduce borrowing costs."
The two writers noted that "Bernanke, a Harvard-educated student of the Great Depression who spent his 20-year academic career writing and teaching about the
1930s,is using his knowledge of that era to avoid the missteps policy makers made then. He's bringing down mortgage rates,supporting the banking system, and buying back government debt and mortgage-backed securities to relieve the scarcity of credit."
The incredulity of these two - how easily do we forget! One of the first things Bernanke did following his appointment as Fed Chairman was to initiate a series of rate hikes (duh!). What was he thinking about when he was doing that? Where and how did the nation benefit from his "20-year academic career of writing and teaching about the 1930s? How will lower rates - as good as that may be, help the hundreds of thousands of homeowners who are now homeless,indigent,completely ruined. When others were talking about recession all the way back in 2007 where was the professor? who was Chairman of the Board?
The economy is a wreck and those who are charged to ensure good health and well-being failed, and failed miserably.A possible 4 percent mortgage rate is seen to be a good thing, and home owners as well as home buyers should benefit if it ever happens - when this is all over Bernanke should wash his hands and go home.
Two other Bloomberg writers, Brian Louis and Kathleen M. Howley in their piece published two days ago, quoted Robert Edelstein, a professor at the Haas School of Business at the University of California, Berkeley as saying "Home loans may go as low as 4 percent if the economy worsens." "Record foreclosures,falling home prices and an economy that has lost 5.1 million jobs since December 2007 will pressure Bernanke to further reduce borrowing costs."
The two writers noted that "Bernanke, a Harvard-educated student of the Great Depression who spent his 20-year academic career writing and teaching about the
1930s,is using his knowledge of that era to avoid the missteps policy makers made then. He's bringing down mortgage rates,supporting the banking system, and buying back government debt and mortgage-backed securities to relieve the scarcity of credit."
The incredulity of these two - how easily do we forget! One of the first things Bernanke did following his appointment as Fed Chairman was to initiate a series of rate hikes (duh!). What was he thinking about when he was doing that? Where and how did the nation benefit from his "20-year academic career of writing and teaching about the 1930s? How will lower rates - as good as that may be, help the hundreds of thousands of homeowners who are now homeless,indigent,completely ruined. When others were talking about recession all the way back in 2007 where was the professor? who was Chairman of the Board?
The economy is a wreck and those who are charged to ensure good health and well-being failed, and failed miserably.A possible 4 percent mortgage rate is seen to be a good thing, and home owners as well as home buyers should benefit if it ever happens - when this is all over Bernanke should wash his hands and go home.
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