Dana Point Real Estate News

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26 Feb

Posted at 00:59h in Dana Point Real Estate News by
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To avoid losing homes to foreclosure due to long response times for short sale transactions, three senators introduced legislation to speed up the short sale process.   Senators Lisa Murkowski (R-Alaska), Scott Brown (R-Massachusetts), and Sherrod Brown (D-Ohio) proposed the bill addressing the issue of short sales timelines on February 17. A short sale is a real estate transaction where the homeowner sells the property for less than the unpaid balance with the lender’s approval.   “There are neighborhoods across the country full of empty homes and underwater owners that have legitimate offers, but unresponsive banks,” said Murkowski. “What we have here is a failure to communicate. Why don’t we make it easier for Americans trying to participate in the housing market, regardless of whether the answer is ‘yes,’ ‘no’ or ‘maybe?’”

12 Feb

Posted at 22:48h in Dana Point Real Estate News by
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When purchasing your new home in Dana Point, the actions that you take could severely harm your ability to qualify for a loan. As a home buyer, never take anything for granted. If you are considering purchasing or doing anything that may effect your credit, you should check with your experienced lender first. The financial decisions that you make may hurt your ability to buy a home. Below are some tips if you are purchasing a home in Dana Point soon.

12 Feb

Posted at 22:24h in Dana Point Real Estate News by
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Consumer outlook for Dana Point home prices improved again this January, extending a recent upward trend in housing market sentiment, according to the mortgage market firm Fannie Mae. For its monthly reading, Fannie Mae said respondents in its January survey predicted home prices will rise by 1% over the next year, up from the 0.8% gain forecast in December. Views on the direction of the U.S. economy also continued to improve. According to the respondents, 30% said they believe the U.S. economy is on the right track, up from 22% with that view in December. The percentage who said the economy is headed in the wrong direction fell to 63% of respondents, marking a 6 percentage point decline from the previous month.

12 Feb

Posted at 22:19h in Dana Point Real Estate News by
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WASHINGTON (CNNMoney) -- In the largest deal to date aimed at addressing the housing meltdown, federal and state officials on Thursday announced a $26 billion foreclosure settlement with five of the largest home lenders. The deal settles potential state charges about allegations of improper foreclosures based on robosigning, seizures made without proper paperwork. The settlement includes the Justice Department and the U.S. Department of Housing and Urban Development, as well as 49 state attorneys general -- all but Oklahoma. "We are using this opportunity to fix a broken system," said U.S. Attorney General Eric Holder at the news conference announcing the settlement.

03 Feb

Posted at 06:00h in Dana Point Real Estate News by
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Mortgage Relief From The White House - Could Reach Dana Point Real Estate Owners Soon! In his State of the Union Address, President Obama laid out a plan to help responsible borrowers and support a housing market recovery in the US.  Details of that plan were released yesterday which underlines help for home owners in Orange County.  However, funding for the proposed program must be approved by Congress, lowering the possibility that it will be implemented quickly in Dana Point. Making sense of the story in Dana Point

03 Feb

Posted at 00:02h in Dana Point Real Estate News by
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File your Mortgage Interest Statement from last year - IRS Tax Form 1098. The absolute best real estate tax deduction is the one that allows you to deduct 100 percent of the mortgage interest you paid in a year. This includes your prepaid interest and points you paid at the closing of escrow on your home if you bought a home last year.

14 Jan

Posted at 02:03h in Dana Point Real Estate News by
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NOW Is The Time To Buy In Orange County!

Chris Thornberg, Founding Principal of Beacon Economics and long time skeptic of the National Association of Realtor states “Now is the time to buy”. According to the NAR 2007 was a good time to buy… obviously they were wrong since home values are between 10% and 50% lower than 2007. Thornberg says “I’m probably the most optimistic I have been about the economy in  the last eight years.” These are big words coming from Thornberg, He states a host of indications pointing to the housing markets improvement.

14 Jan

Posted at 01:41h in Dana Point Real Estate News by
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Mortgage Rates Fall To All Time Low

Freddie Mac said yesterday that the average rate a the 30 year fixed mortgage to an all time low of 3.89%, this is below the previous record set three weeks ago of 3.91%. Now that mortgage rates are so low, qualifying for them is harder than ever before. To top it all off Obama has recently passed a tax bill that will be in affect by the end of January, This tax is speculated to increase mortgage rates by up