This is a great little clip poking fun at the housing bubble. If you don't know what's going on lately, this pretty much sums it up in a quirky fun way. enjoy...you might even be humming it in the shower tomorrow morning.
http://www.youtube.com/watch?v=Ivp4YqGCI-s
Tuesday, March 18, 2008
Monday, March 10, 2008
Economic Stimulus plan and what it means to the South Bay
An informational note on the 2008 Economic Stimulus plan:
The Economic Stimulus plan, as a lot of you may know, was signed through on Feb 13th, 2008 and establishes a temporary increases to Fannie and Freddy's conventional loan limits for first lien mortgage loans in high cost areas, as defined by the US Department of Housing or better known as HUD.
For us folks in the south bay, are loan limit is the full $729,750 so it's time to save yourself some money if you are in the market. Remember that this loan limit is only good through 2008, which means your loan must fund and close in 2008. Fannie Mae finally announced last week that they will start purchasing loans with this new limit starting April 1st, 2008, so be sure to give your lender a call to run some new numbers if you fall within that loan amount. If you don't have a great lender I highly recommend Adeline Johnson from Century Oak Mortgage. She is a great resource for you to have on your side! Happy buying!
The Economic Stimulus plan, as a lot of you may know, was signed through on Feb 13th, 2008 and establishes a temporary increases to Fannie and Freddy's conventional loan limits for first lien mortgage loans in high cost areas, as defined by the US Department of Housing or better known as HUD.
For us folks in the south bay, are loan limit is the full $729,750 so it's time to save yourself some money if you are in the market. Remember that this loan limit is only good through 2008, which means your loan must fund and close in 2008. Fannie Mae finally announced last week that they will start purchasing loans with this new limit starting April 1st, 2008, so be sure to give your lender a call to run some new numbers if you fall within that loan amount. If you don't have a great lender I highly recommend Adeline Johnson from Century Oak Mortgage. She is a great resource for you to have on your side! Happy buying!
Sunday, March 9, 2008
Verona at Sunnyvale-Toll Brothers
Just visited a bunch of new home developments yesterday in Sunnyvale off of 101 and Fair Oaks off of Tasman Drive and I was most impressed with Toll Brothers Verona in Sunnyvale on 400 Tasman. Their floor plans had the best use of square footage in the most functional way. There were a bunch of different floor plans and their pricing starts from the low 600K. It's nicely tucked into the community so it's very quiet. I think its the best bang for your buck.
The downside to this community is that it's in a mixed zoning area so you have office parks and a mobile home park as your view depending on your location....but you are also very close to 101 & 237 without having to deal with the humming of the highways. It becomes all about personal preference when it comes down to it. You also may have to wait until 2009 to move in as they are 10-12 months out depending on the location that you buy in. Not good news for those of you trying to take advantage of the stimulus package.
They have already started selling so don't forget to take your Realtor with you on your first visit or they won't be able to help you. It's especially important to get some representation on your end as most new developer purchase contracts are not favorable to buyers so you may need your realtor to advise you on your negotiations. For more information about some of the other developments feel free to contact me. I've seen ALOT!
The downside to this community is that it's in a mixed zoning area so you have office parks and a mobile home park as your view depending on your location....but you are also very close to 101 & 237 without having to deal with the humming of the highways. It becomes all about personal preference when it comes down to it. You also may have to wait until 2009 to move in as they are 10-12 months out depending on the location that you buy in. Not good news for those of you trying to take advantage of the stimulus package.
They have already started selling so don't forget to take your Realtor with you on your first visit or they won't be able to help you. It's especially important to get some representation on your end as most new developer purchase contracts are not favorable to buyers so you may need your realtor to advise you on your negotiations. For more information about some of the other developments feel free to contact me. I've seen ALOT!
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