Peter Carlseen

When it comes to great loan ooprtunites, VA definitely seems to be the way to go for anyone who qualifies. Well, just when I thought it couldn't get any better, it did! VA loan limits have now increased to $625,500 effective now!

Here are just a few reasons why buyers choose to go VA:

• Generous loan limits (now $625,500)
• Zero-down loan options
• No private mortgage insurance payments (a BIG savings!)
• Fixed and Adjustable rate programs availalbe
• Flexible income, employment and savings requirements

And just in case you are curious about monthly payments, here are a few purchase scenarios to whet your appetite! (payments are principal & interest based on current rate of 5.25%)

• $200,000 purchase, 0-down, for only $1104/month!
• $300,000 purchase, 0-down, for only $1657/month!
• $400,000 purchase, 0-down, for only $2209/month!

Now is an amazing time to buy, so be sure to call or email me right away for the best information on your next dream home!

Good news for first-time home buyers that are looking at new homes in California!

As many people are now aware, there is an $8,000 tax credit for first time buyers, thanks to the "stimulus" package that was recently signed.

In addition to this however, the state of California is also offering a $10,000 tax credit to people buying new construction homes. There is a healthy amount of paperwork to fill out, and "standard operating procedures" have yet to be established, so the best bet is to apply early before the money runs out.

The state has a budget of $100 million for this tax credit.

For more information, please visit: http://www.ftb.ca.gov/individuals/New_Home_Credit.shtml

For information on new homes that qualify for this tax credit, please be sure to contact me as soon as possible! Don't miss out!

Like a proverbial yo-yo, the FHA loan limits have once again changed direction.

The National Association of Realtors has been working in Washington DC to help the Federal Government structure the American Recovery and Reinvestment Act of 2009.

As a result of its passage, today HUD published changes to FHA's single family loan limits.

The new FHA loan limit for sinlge-family homes in San Diego County is $697,500.

Download a pdf document with the San Diego limits here: Limits

You can find the FHA loan limit for other areas at:
https://entp.hud.gov/idapp/html/hicostlook.cfm.

Since the foreclosure market tends to drive the current housing market here in San Diego and Chula Vista, accurate information is key to udnerstanding what to expect in the coming months.

Here are some of the key facts that I noticed in a recent report by Foreclosure Radar- a wonderful service to anyone looking into the foreclosure and pre-foreclosure market- (click here for instant Foreclosure Radar access).

- From December '08 to January '09, Wells Fargo, (which recently purchased Wachovia) saw NOD fillings decrease 46% while JP Morgan/Chase/Washington Mututal saw declines at 49% for the same period.

- Juxtaposed to that, Bank of America/Countrywide saw filings increase 281%, still lower though, than the record numbers set in the second quarter of 2008.

- Overall, Notice of Default filings were down 11.8% from December '08 to January '09, with an average daily decrease of about 3% (figuring that January had 2 fewer filing days than December).

- There were 22,328 Notices of Trustees Sales filed in January, a decrease of 8.3% from December, and a 4.5% decrease from filings in Janaury 2008.

- There were 15,314 properties sold at auction representing about $6.8 billion in loan value.

- Just over 94% of these properties were sold back to the bank at auction.

For more facts and figures, keep this blog bookmarked, and check out a free sample of Foreclosure Radar at our website.

And remember, the HOTTEST DEALS are at www.HottestHomeBuys.com!

When: Saturday, March 14, 2009 at 8:00am.

Where: Montevalle Park in Rolling Hills Ranch

Entry fee: $15 per participant

• Each Participant Receives:
• Bib number
• Race day t-short
• Medal
• Goodie Bag
• Entrance into a drawing (must be present to win)

Now I admit it, I am completely new to the world of school-sponsored fundraisers. My first child just made it to the rank of Kindergartener this last July. We are both learning a lot about schooling.

Having minimal running experience (Coronado 15k) I may be a little naive, but this looks to be a greta event for a great cause. I look forward to being a proud sponsor and hope that all parents will encourage their children to get out, get some exercise, and show some Mountian Lion Team Spirit!

We'll see you at the races!