Monday, September 24, 2018

Some New-Fangled Loan Programs Coming Around

There's been a program for teachers (if I'm recalling correctly) that they can do 100% financing. Another that buyers can do 99% financing.

Once of my fave lenders sent me some info a week or so ago about a silent second, sorta, type of loan program.

And, now....a little behind in my reading....I see another that is doing 3% down, offering 1500 in closing costs 'grant' money & a gift certificate to Home Depot for $2000.00!

Not quite sure why I'm seeing this, but I DON'T think it's going to create the fiasco we had a decade ago. I think, my opinion here, that the lenders are looking for any way to get additional business.

I'm don't really think they are being heroic to help First Time Buyers....I think they just want their business...IMHO.

But, that's okay with me. Whatever can help a buyer get into their long as they aren't over-extending...I'm all for it.

So, please, no "Interest Only or Adjustable Rates" for the newbies....I don't think they have the experience to deal with those!

If you need the name of a great lender, I've got a few!!

Wednesday, September 12, 2018

YES! It Really Is Allllll About Location!

One of my favorite clients bought a home that is up against the mountains almost a decade ago. The home itself is simple. A single story with a pool. Nothing flashy, not in a flashy neighborhood. Not a speck of granite in the whole house.

But, look at the location here:

See that pool, slightly off to the left with the 3 large trees behind it? That's my clients home.

It has a few upgrades, but the kitchen & bathrooms are completely original. We call it 'original charm' in marketing materials. LOL

But, you just can't beat that location. The street is beautiful, the sounds are of nature, the rear of the home is looking at those mountains.

We put it on the market on Friday, had a ton of showings, got multiple offers. Needless to say we had a few investors that wanted to buy, fix, flip. The winning offer was higher than all others, and the buyer wanted to live in the home. She's definitely planning on some revamping...but, yep...she loved the location!

Got a couple buyers in escrow on a property in Valencia too. We've got some issues from home inspection & termite guys findings....but, again, the location can't be beat for their family situation.

Location, location, location. Just a couple validating case you were wondering.