Here is what I have heard. In Orange County, CA in about 1990 an investment banker, William Komperda, came up with an idea for raising money by floating bonds backed by mortgages. The idea was not really new since it had always been done by hard money lenders. The difference was Mr. Komperda’s efforts got these sub-prime loans securitized [...]
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Here is a look at the Median Price€ of a home in Redwood City during all of 2007. I am sure you can draw lots of conclusions from this graph below. But, let s be sure we are on the same page regarding median€€¦..as a refresher this is the point at which half of [...]
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Nevada leads the way in foreclosure filings per household, but in sheer numbers California unfortunately has accumulated more foreclosures than anywhere else in the nation. Because our population here in California is so large we can’t compete with Nevada for the most foreclosure filings per household. In either case this is an extremely bothersome situation for [...]
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I know there are lots of opinions about President Bush’s rescue plan. Some support it [like yours truly] while others believe it is a big mistake to let borrowers off the hook. Which ever point of view you take…consider this….the mortgage industry, wallstreet, and the millions of extremely well educated and bright professional loan and [...]
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Not much. It does depend on the age of the information. What is lost in the translation of reviewing past sold listings is an understanding of the circumstances at the time of sale. Often there are conditions that exist that impact the moment of sale that isn’t reflected when the numbers are studied at much later [...]
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BUYERS………Mistakes:
1. Not knowing how much they can afford to pay for a house before they make an offer.
Prevented by: obtaining pre-approval for a mortgage from a lender, so you know in advance eactly how much you can afford.
2. Not finding out in advance whom the real estate agent represents.
Prevented by: Asking your Realtor. Most people [...]
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Seven months ago I met a young couple and gave them counsel about what to do to buy their first home. They were far more disciplined than me and followed my advice to a T. They pretended to have a mortgage and put $4,000 away every month for seven consecutive months. Last Weds we made [...]
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