SF Peninsula Real Estate Guru

Linda Lunsman of Princeton Capital writes about a wild crazy ride (UPWARD) for mortgage rates last week.
 ”I’M GOING OFF THE RAILS ON A CRAZY TRAIN…” OZZY OSBOURNE And speaking of going off the rails crazy…Bonds and home loan rates just experienced one of the most volatile, crazy weeks ever seen, with fixed home loan rates rising […]

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Linda Lunsman of Princeton Capital writes:

Last Week in Review  

 
“CUTS LIKE A KNIFE, BUT IT FEELS SO RIGHT” Bryan Adams And financial pros will tell you it’s wise to never try and catch a falling knife. Seems like decent advice in general - but in the financial world, it means that when the price of […]

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Matt Carter of Inman News reports that both houses of Congress have passed an economic stimulus package which includes raising the conforming loan limit substantially. It is believed the new limit in California will be $729,750.
I think we will need a few weeks to let the “dust settle” before it becomes clear exactly how the […]

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Inman News reports that the conforming loan limit agreement passed in the House of Representatives may run into opposition from Sentate Republicans.
Stay tuned for up to date information on this current legislative action.

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Countrywide Financial one of the nation’s largest lenders and recently purchased by Bank of America has published its rankings of market risk for the entire country.
The rankings are on a scale from 1 to 5 - with 1 being the most stable and 5 being the most risky.
San Francisco, San Mateo, and Santa Clara counties […]

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The House of Representatives has just passed a bill raising the Fannie Mae Freddie Mac loan limit from $417,000 to $625,000. The bill is on its way to the Senate and President Bush has indicated that he will sign the bill should the Senate pass it.
This is a potentially promising development for home buyers and […]

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Carol Lloyd of the SF Chron, in an insightful article, talks about her friends who are first time buyers with a big down payment and how they can’t find a house to buy in San Francisco. Carol talks about how her friend’s experience - actually being out there in the market, looking at houses, trying […]

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The Wall Street Journal reports that Fair Issac will change the way their credit scores are calculated. The new system will be more forgiving on an occasional late payment but will be harder on repeat offenders. The FICO score developed by Fair Issac is used overwhelmingly my most real estate lenders.

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The San Francisco Chronicle ran an informative and illiminating article Sunday on Bay Area Homes in Foreclosure.
6,557 Bay Area homes and condos were foreclosed on my lenders in the first 9 months of the year.
Of these, nearly 1 and 6 (a little under 1,000) were owned by individuals who lost more than 1 property to foreclosure […]

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Buyers and homeowners are faced with a myriad of financing options.
There are 30 or 40 year fixed rate mortgages. There are mortgages fixed for 3, 5, 7, or 10 years which then turn into adjustables. There are adjustable rate mortgages where the interest rates adjusts monthly, every 6 months, or every year.
Everyone wants to know: […]

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