Hula and The Real Estate Market Today

Many are beleiving the market will begin to creep up after March, the fact that lenders are still sqeeky tight with home loans won't make that change any easier for 1st time homebuyers.

Bank owned are being released but again its a very slow trickle and buyers/investors are ready to scoop them up the minute they hit the market.

Short Sale properties are taking longer and longer which was suppose to be getting shorter with all the organization, new employees etc. added to the short sale dept's but for some reason no 2 lenders do it the same and buyers are still having to wait for months just to see an approval. 

As a realtor in this market it is not easy, every transaction is a struggle. It doesn't have to be that way when everyone works together but it just seems that buyers don't always realize how much work your actually doing throughout the process. After months of daily research, no call backs from other agents, time previewing, writing offers with no response, negotiating your price and contingencies etc. all for free, they take off to find another Realtor to assist them or want the little commission your actually receiving credited to their transaction. Funny but when you receive your payck 1ce or 2ce a month, your company doesn't ask you to cut it in half I wonder why buyers think thats an appropriate think to ask of their Realtor? If your a buyer be considerate to your Realtor believe me they are working very hard for you even when you don't see it and by the time a transaction closes which could be months for free they've earned a paycheck.

Is it a good time to buy? YES even though its a tough Market to work in the prices couldn't be better, and thanks to the interest rates staying where they are at the moment makes it even better. Tough yes, good yes.

Lenders want high FICO's, 1-2yrs employment with same employer, 3.5% to 20% down depending on Condo , SFR or Multi Unit, and a good loan to value ratio. They are tight and they're making sure the loans make sense, if you need help to get your FICO's up or need Down Payment Assistance there are agencies to help you. Most cities in Calif. have city owned properties that are easier to qualify for if you meet the income levels and both Fannie and Freddie have homes to sell with lower down pmt requirements and closing cost assistance. When your ready to purchase, their are options available to you. It will take some work on your end but worth it.

Sorry this was a long blog, for someone who always forgets to blog but hopefully you will find it informative and useful.

If you need a dedicated Realtor and your ready to go, give me a call.

Dee