FHFA Confirming Home Loan Limits
Home Mortgage Loans
For 2015, the federal housing finance agency, recently announced that it will keep their maximum conforming loan limits for loans issued by Fannie Mae and Freddie Mac at $417,000 on one unit properties in most areas and 625,500 in high-cost areas. San Diego is considered a high-cost area , and so has higher conforming loan limits.
While on the topic of home mortgage loans. A recent study by JD power showed that first-time home buyers reported challenges with understanding the mortgage process and the options that are available to them. Read more 
FHA Mortgage Insurance Rate Drop
FHA Mortgage Insurance Rate Drop
If you’re in the real estate industry, I’m sure you know that last week President Obama announced that the FHA home loan program is going to reduce their monthly mortgage insurance (MMI) premium by .50 (from 1.35% to .85%)
Well, here’s the rest of the FHA loan rate story:
When President Obama originally took office, the FHA monthly mortgage insurance rate was .55%. Then, up until last week, the Obama administration raised the FHA insurance rate five times to today’s high of 1.35%!
Many mortgage insiders felt that at at a 1.35% monthly rate ($337 a month on a $300,000 loan) the FHA had really gone overboard in what was really needed to replenish their reserve funds. Read more
San Diego real estate market forecast 2015
San Diego real estate market forecast 2015
Facts & opinion on the San Diego California real estate market by Bob Schwartz San Diego real estate broker.
Put my 30 years of residential real estate experience to ensure that my clients achieve the best possible price marketing or selling residential real estate in the San Diego California market! Read more
San Diego real estate market forecast 2015
San Diego real estate market forecast 2015
Where does the San Diego real estate market seem to be headed for 2015? Once again at this time of year, when all the pundits come out with their forecast, it’s the rare individual that does not go along with the real estate industry’s proverbial ‘now’s the time to buy’ mantra. I’m going to be part of the 1% who deviates from the traditional ‘by now before you’re priced out of the market’ end of the year talking points.
When it comes to real estate marketing forecast, I don’t believe the general public should put much credence in the opinions of local real estate brokers, agents, or economists associated with the real estate industry. This is because when you get down to it the real estate industry is in the sales business. And in sales you must be optimistic and sometimes overly optimistic about future trends if you want to survive.
Now, just think about it. When’s the last time you heard of, or read, an opinion from a local real estate professional that perhaps the future outlook for the market was stagnation, or in the case of the San Diego real estate market bubble bursting in 2005, that we were near or at the top of the market?
Personally, I’ve never understood why the National Association of Realtors has its’ own economist. There has to be a tremendous pressure to shade all forecasts in a positive light.
Having been in residential real estate for over three decades, I consider myself a realist. I endeavor to always call my forecast for the new year in San Diego real estate as I personally see it, without regard for the ever present ‘Now’s a great time to buy real estate’ mindset of the industry majority. Read more