About Placer County, CA

If you are looking for an experienced agent who is hard working and knowledgeable regarding real estate and luxury homes in Granite Bay I am the agent for you. Granite Bay is a picturesque bedroom community Northeast of Sacramento and is convenient to Folsom Lake, boating, golfing, hiking and biking trails, shopping and the Roseville Galleria. Yet, can be just a day trip to beautiful Lake Tahoe. My online MLS search offers an easy way to search for homes in the area. Or, call me personally for more information regarding available properties and my listings.

Today is a big day for the real estate industry. Here's why...

Today the National Association of Mortgage Brokers will be delivering 117,000 signed petitions from mortgage brokers all over the country to Attorney General Cuomo's Manhattan office. The petitions seek the killing of HVCC - Home Valuation Code of Conduct.

HVCC, which was put in place by Fannie Mae and Freddie Mac along with New York State Attorney General, Andrew Cuomo, is not only driving appraisers out of business but also killing real estate sales transactions throughout the country which doesn't really help the housing recovery. Inexperienced appraisers are performing appraisal inspections on markets they're not necessarily familiar with and driving prices even lower.

The National Association of Home Builders has just released a monthly sentiment survey that says that "fully one third of respondents indicated that they have recently lost sales due to low appraisal values".

There's currently a bill in the House of Representatives (H.R.3044) sponsored by Rep. Travis Childers to institute a moratorium on HVCC, but it's currently stalled.

Have you had any problems with HVCC recently? I would love to hear your story!

To Your Success ~

Maria

I was so excited today because the 10 yr. note dropped to 3.33%. Mortgage rates are tied to the 10 yr note rate. When the interest rates drop on the 10 yr note then fixed mortgage rates drop. Here are examples of what some MORTGAGE BROKERS IN THE ROCKLIN CA area could offer today. The 30 yr fixed rate dropped to 4.5% for 1.25 points. The 15 yr fixed rate dropped down to 4.0% for 1.5 points. The 20 yr fixed rate dropped down to 4.375% for 1 point. These are just averages right now as loan to value and credit score could raise or lower these average rates for the client.I have been a mortgage broker since 1993 and I cant remember the rates being so low. This means that a person buying a home for 335k and a loan amount of 325k would have a principal and interest payment of $1656.0 per month on a 30 yr fixed rate. A 20 yr fixed rate would give you a $2056.0 per month payment. You could buy an incredible home in ROCKLIN CA and your payment total would be $2500.0 per month for just 20 years. I can tell you that it would take about $8000.0 per month to qualify for a 325k MORTGAGE. The only sad thing about this is that rates dont stay the same daily so I could be writing next week about how rates went up by a quarter of a percent. If you a buying a house soon, I would lock my rate now. If your current rate on your house is 5% or higher, you might hurry and refinance before the rates go up a little bit.

One reason that I have liked being a MORTGAGE BROKER IN THE ROCKLIN TO SACRAMENTO AREA for the last 16 years is that I get to SHOP MANY DIFFERENT LENDERS for my clients so that I can find them the best rate and term. Mortgage brokers have received bad press lately because some of them were doing fraudulant loans back when home values were going up. I think many of these people are out of the business now so hopefully brokers will be respected again in the future. With these low low rates and low home prices, it does seem that this is the perfect time to buy a house. If you would like to learn how to find a property with equity, please go to www.propertieswithequity.com

by Scott Cooper, Big Valley Mortgage

Scott is a featured contributor to my blog.

Many people believe they won't be able to purchase a home for at least 7-10 years after a short sale or foreclosure, however, I am happy to inform you that is not the case.

Although your credit will be affected, you will be surprised how quickly you can buy again. The following are some commonly asked questions and answers you may find useful:

Q. How long after a short sale before I can buy another home?

A. New FHA guidelines state there is no minimum wait period after a short sale before you can buy another home if you do not have late payments on your mortgage and your credit history is acceptable.

Q. If I have late payments along with a short sale, how long before I can buy again?

A. The current guidelines require a two-year waiting period.

Q. How long after a foreclosure before I can buy again?

A. With an FHA loan, the minimum wait period is 3 years after a foreclosure.

If you need further information, or would like assistance with credit repair, contact me:

Scott Cooper

I go on a daily run though the neighborhoods of Granite Bay, Ca and often get a chance to take a few candid picktures with my iPhone. This week I ran by the park in Treelake Village and was able to grab a few shots of the playground and the sports fields. It is an awesome little park that plays host to familys and sporting event alike on the weekend. Just another great reason to purchase a home in Granite Bay!

Check out the shots: