Mortgage Interest Deduction Under Scrutiny

We all know about the huge deficit in the Government and the biggest question – How are we going to pay for this? One answer from the administration is:

Eliminate the Mortgage Interest Deduction!

As current homeowners and would be homeowners the mere thought of this is discouraging and simply not a smart way to jump start the housing industry. This would do more harm than good and we as Realtors are keenly aware of this.

The National Association of Realtors is campaign hard to ensure that the mortgage interest deduction stays in place. To that end California Representative Gary Miller (R-42), along with five original cosponsors have introduced House Resolution 25. Read the rest of this entry

5 Great Home Financing Programs

Mortgage financing available

Many people I speak with are unaware of the financing programs available to purchase a home. These loans are not only for first time home buyers. Home mortgage programs are designed to offer buyers who qualify for mortgages, but may not have the cash required to purchase a home. Some of the features are little or no down payments, closing costs waived,  FICO scores in the low 600’s, and free grant money.

Here is a list of the 5 home mortgage programs currently in force (January 2011) to help you buy a home.

1. Fannie Mae Home Path Program – this program is designated for Fannie Mae REO properties and both home owners and investors can take advantage of the loans. Requirements:

Contra Costa December 2010 Home Sales Results

The results are  in for Contra Costa home sales for 2010, as compared to 2009 sales. All data was obtained from website.

Pending Sales in the Contra Costa region for Single-Family Detached homes were up 19.8%  from December 2009 to arrive at 303 contracts written. Townhouse-Condo Attached homes saw Pending Sales increase by 42.9 percent to 180.

The December Median Sales Price for Single-Family Detached homes was $555,000, down 7.5 percent from a year ago. Townhouse-Condo Attached homes saw a December Median Sales Price of $215,000, a decline of 23.2% from a year ago. For all of 2010, detached homes saw a 9.5% increase;  townhomes and condos prices decreased 1.2%. Read the rest of this entry

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