We’ve discussed “Crowdfunding” previously for raising money for home improvement, down-payment for a loan but the funds all needed to be “seasoned” and would have to be usually 6 months old before being counted as legitimate funds by the big government lenders–Fannie Mae and Freddie Mac. Now CMG has partnered with the two big GSE’s in making the crowdfunding money available immediately for a down-payment. We’ll discuss what changed and how you can use this way to raise money to buy a house.
Why go on a “destination” wedding which may cost $50,000 when you REALLY want to buy a home?!
Here in the lovely “Wine Country” housing market you can’t be complaining about the interest rates! If you are retiring in 7 years and perhaps moving to another area then hook onto a refinance as your rate would be 3.125% Wow! Or opt for a 15 year loan and enjoy super low rates and rapid equity build up.
Once again we see the “Jumbo” money a 1/4 point or 25 basis points, under the conforming loan level which is now 4%. Either way, pretty spectacular interest rates. Now if you could just find a home to buy!
Rates provided by Erik O’quist from Wells Fargo Home Mortgage
For information on the many other loan options we have available, please contact me. I look forward to hearing from you.
Home Mortgage Consultant
NMLSR ID 447900
Wells Fargo Home Mortgage | 600 Bicentennial Way, Suite 200 | Santa Rosa, CA 95403
Tel 707-535-2655 | Cell 707-889-5626 | Fax 866-617-5206 | Toll-Free 877-534-1810
Realtor.com came out with their 20 Hottest real estate markets in the nation. 11 of these are in California and we’ve added two NEW spots–Eureka and Fresno. Eureka is way up north on the coast of California. Isolated, older fishing community but it is very affordable as is Fresno which is in the “Valley”. “Valley” properties in the greatest state of California are fairly depressed and still have higher percentages of distressed homes. They have yet to get even close to their pre-bust highs. If you look at the top lists you’ll see 4 of these hottest market are in the California interior valleys—Sacramento, Stockton (at one time ground zero for the distressed market in California), Modesto and Fresno. What they all have in common is affordability. Median priced homes in these areas range from $270,000 to $317,000. Compare these prices with Santa Rosa (#13 on the list with a median price of $597,500).
Here in Sonoma County, California, “The Wine Country”, we are seeing persistent scarce homes to sell and lack of affordable homes is raising its ugly little head. The only category where sales are out-performing last year is in two price categories: $500 to $750K and $750 to $1,000,000K. These are for detached single family houses.
This stunning traditional home is back on the market and OPEN this Sunday–All reports NOW on file! 4 bedrooms and 3 FULL baths the home has 3 bedrooms upstairs and one bedroom down wit adjacent full bath and exterior door–perfect “Multi-generational” living or for guests who savor their privacy. Kitchen new flooring in a rich brown with matching entry statement. Home is over 2100 sqft and has enormous living room with adjoining Dining area big enough for your Grandma’s sideboard, hutch and dining table and chairs. A big sectional would be swallowed up in the living room. Kitchen has newer appliances, flooring and is adjoins the family room with fireplace. Breakfast bar serves your hurried mornings or quick lunches. Yard has gate for ez acess and patio for al fresco dining. Priced to sell at: $560,000. Join Allison THIS Sunday, February 21st from 1 to 4pm.
1200 Halyard Drive, Santa Rosa: $560,000–Traditional home beckoning to new owners seeking 4 bedrooms and 3 full baths in a quiet NorthWest Santa Rosa neighborhood. Oversize lot with big side yard. Inside, new flooring in Entry Way and Kitchen. Living room will swallow up your big sectional and adjoining “formal” dining area will take a big dining room table, hutch and sideboard. See the virutal tour by clicking RIGHT HERE!
Real Estate Agent with The Kelly Norman Team-Keller Williams Realty BRE#: 0645724
Sonoma County selling and buying season here in the lovely “Wine Country” just an hour north of the “Gate” is flat with sales down 2% over last year but the bigger issue–Inventory! Usually March will signal the beginning of the “Selling” season by more homes coming onto the marketplace. March was a GOOD month but instead of being the beginning of an inventory surge–it was the end. March was our best month and inventory has been declining since. WHAT are the reasons? Below is a slide from the California Association of Realtors. I’ve added on the last three.
I think the “Off Market” or “pocket listings” is an issue but I’ve NOT seen any hard numbers on it. I’m waiting for CAR or perhaps Core-Logic, to come out with a study showing MLS sales vs. recorded sales. I know in our super tight inventory market, Realtors/Agents are always asking to see new listings not yet on the market. We hear of sales being made off MLS all the time. I keep waiting for the law suit which will define this isssue to apppear. Sellers and their Realtor/Agents who state, “They got their price.” really have no idea at how much that “price” could have been! The current disclosures by CAR, reflect this very issue which came out of the ’89 market scarcity.
Real Estate Hour favorite, Otto Kobler, of Summit Funding will be joining us this Sunday.
In this hot and heavy real estate market, cash buyers often beat out financed buyers in a multiple offer situation.
Learn Otto’s strategy that helps buyers with financing rise above the cash offers and present a winning offer.
Plus; There are big changes coming to the lending process, and looming interest rate hikes. Otto will fill us in on all of this and more.
Join Mike Kelly and Allison Norman for new and information about Real Estate in Sonoma County, Ca, and around the country, every Sunday on The Real Estate Hour 9-10AM, 1350AM, 103.5FM and streaming live at www.KSRO.com
Just click above or go to www.SonomaCountyRealEstateSearch.com, enter your phone number and we’ll send you a link instantly, allowing you quick access to our Home Search App for your mobile device. It really is that easy for you to begin searching for homes wherever you are!!
How great would it be to drive through ANY neighborhood and be able to see all the information of every property for sale?
With the Keller Williams Realty App, you can do that and so much more:
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Interactive List or Map searches of any neighborhood from your mobile device, from wherever you are.
Scrolling “Nearby Homes for Sale” information on your screen.
Find Open Houses, and Rentals in the area too.
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Local Real Estate New and Information – Sundays, 9 to 10am PST, 1350AM,103.5 FM or www.KSRO.com