Duane White

Hi my real estate home biuyers,

It's Duane White your FREE Real Estate Consultant with some valueable information on "FHA Seller Concessions". Here is some information that FHA Buyer's should know about before it's too late. Currently financing with a FHA loan allows for the seller to contribute a maximum of 6% towards the buyer closing cost and repairs. Please note that FHA requires the buyer to provides their own funds of 3.5% down payment for the purchase. Other than VA loans, this is the best deal around for home financing!

Late this summer FHA plans to change the seller concession to 3% this is in an effort to limit further possible losses by cutting concession in half. The agency siad the change would occur in "early summer" after the publicatin of a Federal Register notice and public comment period. However, Lemar C Wooley a FHA spokesman, confirmed on May 19th that there had been no Federal Registration annoucement as of yet.

Since public comment are for a period of 60 day, I would say we are looking at late summer or possibly fall 2010.

Keep it in mind,

Duane White, CDPE, PSC

Hi this is Duane White, your personal FREE real estate consultant. I work with buyer and seller's in Orange and Los Angeles County Real Estate deals. Because of the decline in the values of properties due to the Sub-Prime Mortgage collapse, buyer of real estate seem to believe this is a "Buyer's" market. However, due to the lack of inventory or homes on the market below the $800,000 range, we are experiencing a "Seller's" market. This is truly apparent for First Time Buyers wanting to purchase a home or condo below the $350,000 range. Any property that is price well is getting multiple offers, by multiple, I mean over well over 10 plus. I have seen new buyer go from excited to placing their first offer to empathetic when making their sixth offer. IT IS TOUGH OUT THERE FOR FIRST TIME BUYERS. There is light at the end of the tunnel, but you MUST be deligent in the quest for a home.

As a Realtor, it is our job to manage the expectation of our clients. We are to be the professionals the explain the process and state of the current market to our clients. At Home Centre Real Estate we are striving to explain the highs and the lows of the process of purchasing a home. Things have change over the past few years, and even up to the past few months with our NEW HUD-1, and more recent our NEW Purchase Contract. It it making things better, or more complicated? At this point only time will tell,..

Talk Soon Duane White - Cerritos, CA

"I Will Sell Your Home In 60 Days or I Will Buy It!"