Tami Winbury
Family Friendly Service
Monday, April 18, 2011
Friday, April 15, 2011
Thursday, April 14, 2011
In Effort to Stabilize Neighborhoods- Fannie Mae offers 3.5% to Buyers
In Effort to Stabilize Neighborhoods- Fannie Mae offers 3.5% to Buyers
Fannie Mae Announces 3.5 Percent Buyer Assistance on HomePath® Properties
Incentive Part of Continuous Effort to Stabilize Neighborhoods
Washington, DC — Fannie Mae announced today that people purchasing a Fannie Mae-owned HomePath property will receive up to 3.5 percent in closing cost assistance. The initial offer must be submitted on or after April 11, 2011; and the sale must close on or before June 30, 2011 to be eligible for the incentive. Additionally, buyers must reside in the home as their primary residence (sales to investors are excluded).
"Attracting qualified buyers to the market and reducing the inventory of vacant homes remains essential to stabilizing neighborhoods and helping the market recover," said Terry Edwards, Executive Vice President of Credit Portfolio Management. "Since interest rates remain low, the incentive will go a long way toward helping even more families buy a new home so this is a great time for Fannie Mae to offer some assistance."
All Fannie Mae-owned HomePath properties are listed on HomePath.com and most listings include detailed property descriptions, photographs, community and school information, and more. In addition, many Fannie Mae-owned properties are eligible for special HomePath Mortgage and HomePath Renovation Mortgage financing, which offers homebuyers an opportunity to purchase with as little as 3 percent down. Call Tami Winbury Keller Williams Realty help you search California homes for sale. 805-798-3412 http://www.venturacountyhomesforsale.net/
Fannie Mae exists to expand affordable housing and bring global capital to local communities in order to serve the U.S. housing market. Fannie Mae has a federal charter and operates in America's secondary mortgage market to enhance the liquidity of the mortgage market by providing funds to mortgage bankers and other lenders so that they may lend to home buyers. Our job is to help those who house America.
Fannie Mae Resource Center Telephone 1-800-7FANNIE
(1-800-732-6643)
Posted by: Tami Winbury at 1:43pm
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http://www.epropertysites.com/blogs/1283879879/5/In-Effort-to-Stabilize-Neighborhoods--Fannie-Mae-offers-35-to-Buyers.html
Fannie Mae Announces 3.5 Percent Buyer Assistance on HomePath® Properties
Incentive Part of Continuous Effort to Stabilize Neighborhoods
Washington, DC — Fannie Mae announced today that people purchasing a Fannie Mae-owned HomePath property will receive up to 3.5 percent in closing cost assistance. The initial offer must be submitted on or after April 11, 2011; and the sale must close on or before June 30, 2011 to be eligible for the incentive. Additionally, buyers must reside in the home as their primary residence (sales to investors are excluded).
"Attracting qualified buyers to the market and reducing the inventory of vacant homes remains essential to stabilizing neighborhoods and helping the market recover," said Terry Edwards, Executive Vice President of Credit Portfolio Management. "Since interest rates remain low, the incentive will go a long way toward helping even more families buy a new home so this is a great time for Fannie Mae to offer some assistance."
All Fannie Mae-owned HomePath properties are listed on HomePath.com and most listings include detailed property descriptions, photographs, community and school information, and more. In addition, many Fannie Mae-owned properties are eligible for special HomePath Mortgage and HomePath Renovation Mortgage financing, which offers homebuyers an opportunity to purchase with as little as 3 percent down. Call Tami Winbury Keller Williams Realty help you search California homes for sale. 805-798-3412 http://www.venturacountyhomesforsale.net/
Fannie Mae exists to expand affordable housing and bring global capital to local communities in order to serve the U.S. housing market. Fannie Mae has a federal charter and operates in America's secondary mortgage market to enhance the liquidity of the mortgage market by providing funds to mortgage bankers and other lenders so that they may lend to home buyers. Our job is to help those who house America.
Fannie Mae Resource Center Telephone 1-800-7FANNIE
(1-800-732-6643)
Posted by: Tami Winbury at 1:43pm
MySpace
Email Link
http://www.epropertysites.com/blogs/1283879879/5/In-Effort-to-Stabilize-Neighborhoods--Fannie-Mae-offers-35-to-Buyers.html
Wednesday, April 13, 2011
Buy Real Estate for the Right Reason
Be wary of low interest rate bait: Think long term
There were 1 million foreclosures nationwide in 2010 and there are expected to be more in 2011. Many consider now a good time to buy because mortgage interest rates and home prices are low. But how can you keep from ending up in a distressed-sale situation, or ending up underwater with a loan amount that is higher than the market value of your home?
According to Robert Shiller, a professor at Yale and known for the SandP/Case-Shiller Home Price Indices, housing bubbles aren't that common and are usually more localized than the one that began in the summer of 2006, which wreaked havoc with the housing market in this country.
Shiller points out that housing bubbles are dependent on extreme public exuberance. He and colleague Karl Case have been surveying homebuyer opinions since 1988. Speculative investment fueled the most recent housing bubble.
If anything, homebuyers now see homes as a risky, rather than a great, investment. This is a move in the right direction, and a good guideline to keep in mind going forward. Home prices will stabilize and appreciation will return to the market at some point. But we're unlikely to see the stratospheric prices reached in some areas of the country in 2006 and 2007 anytime soon, if ever.
For decades, homebuyers have viewed a home as more than just a place to live. It was a virtual piggybank that buyers could use to pay for college education, vacations and new cars. One way to keep your head above water is to resist the temptation to borrow against your home.
HOUSE HUNTING TIP: Low-down-payment, interest-only, adjustable-rate mortgages (ARMs) got people into trouble during recent years. Many lost their homes in foreclosure. It has been impossible to obtain those loans during the past few years. However, recently they are being offered again, although the qualifying criteria are stiff. Even if lenders ease up on their requirements, be careful about easing up on yours.
Tami Winbury Keller Williams Realty in Ojai and Ventura, Ca. believes, "Don't buy beyond your means. There was a time back at the end of the 1970s and again at the end of the 1980s when the appreciation rate was high and it was common wisdom to buy the most expensive house you could afford. Now, you should buy a home that will suit your long-term needs, so that you don't have to move again soon. Make sure you reserve cash for unanticipated emergencies.
Moving in a down market could cost you plenty when you consider the sale costs and that you might have to sell for less than you paid. Home prices could be lower or higher than they are now in another few years. If you aren't forced to sell then, you can ride out the downturn in your comfortable family home.
Some buyers are so intent on buying while interest rates are low that they may be susceptible to making a bad decision. For example, if you are a family of three, but expect to have more children, don't buy a two-bedroom, one-bath home. You'll be shopping for a new home within a few years.
Now is not a time, in most areas, where you can be certain the home you buy today will appreciate enough to cover all your costs and generate cash for a larger down payment to buy a bigger house. Don't bank on appreciation.
Have any home you seriously consider buying inspected thoroughly by well-respected local inspectors. Ask the inspectors to prioritize the work that needs to be done. Stay on top of maintenance. This is essential to preserve the value of your home.
THE CLOSING: Buy in the best area you can afford for resale value.
Dian Hymer, a real estate broker with more than 30 years' experience, is a nationally syndicated real estate columnist and author of "House Hunting: The Take-Along Workbook for Home Buyers" and "Starting Out, The Complete Home Buyer's Guide."
Tami Winbury Keller Williams Realty DRE# 01878369 http://www.liveojai.com/ http://www.venturacountyhomesforsale.net/ 805-798-3412
There were 1 million foreclosures nationwide in 2010 and there are expected to be more in 2011. Many consider now a good time to buy because mortgage interest rates and home prices are low. But how can you keep from ending up in a distressed-sale situation, or ending up underwater with a loan amount that is higher than the market value of your home?
According to Robert Shiller, a professor at Yale and known for the SandP/Case-Shiller Home Price Indices, housing bubbles aren't that common and are usually more localized than the one that began in the summer of 2006, which wreaked havoc with the housing market in this country.
Shiller points out that housing bubbles are dependent on extreme public exuberance. He and colleague Karl Case have been surveying homebuyer opinions since 1988. Speculative investment fueled the most recent housing bubble.
If anything, homebuyers now see homes as a risky, rather than a great, investment. This is a move in the right direction, and a good guideline to keep in mind going forward. Home prices will stabilize and appreciation will return to the market at some point. But we're unlikely to see the stratospheric prices reached in some areas of the country in 2006 and 2007 anytime soon, if ever.
For decades, homebuyers have viewed a home as more than just a place to live. It was a virtual piggybank that buyers could use to pay for college education, vacations and new cars. One way to keep your head above water is to resist the temptation to borrow against your home.
HOUSE HUNTING TIP: Low-down-payment, interest-only, adjustable-rate mortgages (ARMs) got people into trouble during recent years. Many lost their homes in foreclosure. It has been impossible to obtain those loans during the past few years. However, recently they are being offered again, although the qualifying criteria are stiff. Even if lenders ease up on their requirements, be careful about easing up on yours.
Tami Winbury Keller Williams Realty in Ojai and Ventura, Ca. believes, "Don't buy beyond your means. There was a time back at the end of the 1970s and again at the end of the 1980s when the appreciation rate was high and it was common wisdom to buy the most expensive house you could afford. Now, you should buy a home that will suit your long-term needs, so that you don't have to move again soon. Make sure you reserve cash for unanticipated emergencies.
Moving in a down market could cost you plenty when you consider the sale costs and that you might have to sell for less than you paid. Home prices could be lower or higher than they are now in another few years. If you aren't forced to sell then, you can ride out the downturn in your comfortable family home.
Some buyers are so intent on buying while interest rates are low that they may be susceptible to making a bad decision. For example, if you are a family of three, but expect to have more children, don't buy a two-bedroom, one-bath home. You'll be shopping for a new home within a few years.
Now is not a time, in most areas, where you can be certain the home you buy today will appreciate enough to cover all your costs and generate cash for a larger down payment to buy a bigger house. Don't bank on appreciation.
Have any home you seriously consider buying inspected thoroughly by well-respected local inspectors. Ask the inspectors to prioritize the work that needs to be done. Stay on top of maintenance. This is essential to preserve the value of your home.
THE CLOSING: Buy in the best area you can afford for resale value.
Dian Hymer, a real estate broker with more than 30 years' experience, is a nationally syndicated real estate columnist and author of "House Hunting: The Take-Along Workbook for Home Buyers" and "Starting Out, The Complete Home Buyer's Guide."
Tami Winbury Keller Williams Realty DRE# 01878369 http://www.liveojai.com/ http://www.venturacountyhomesforsale.net/ 805-798-3412
Monday, April 11, 2011
How a Government Shut Down Could Effect Everyday Americans
Budget impasse threatens FHA lending
img src="http://cache.inman.com/files/graphics/temp-thumb1.jpg" alt="thumbnail image" width="125" height="95" style="margin: 0 10px 10px 0; float: left;"Shutdown would put gov't-backed mortgage insurance on hold
Inman News™
By INMAN NEWS
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The budget deadlock and looming shutdown of the federal government wouldn't affect Fannie Mae and Freddie Mac, but it could put the brakes on FHA and other government-backed loan guarantee programs.
The Obama administration has proposed $33 billion in spending cuts, while Republicans are reportedly pushing for $40 billion or more. House Republicans Thursday passed a bill to push back a shutdown by one week. But that bill includes spending cuts opposed by Democrats, and President Obama has threatened a veto if it's approved by the Senate.
In the event of a government shutdown, the Federal Housing Administration "will not be able to endorse any single-family loans, and staff will not be available to underwrite and approve new loans," a HUD spokeswoman told Inman News.
Although so-called "full eagle" lenders vetted by FHA have direct endorsement authority, in the event of a government shutdown FHA would power down its automated systems for processing those loans, in effect suspending all lender insurance approvals.
"Technically, the banks can close on a loan that's been FHA-approved if they want to, but they will be taking the risk on their own books," the HUD spokeswoman said. "Some may choose to do so, but (in the event of a government shutdown), they will not receive FHA insurance until FHA is up and running."
FHA insured mortgages on about 19 percent of home sales in the fiscal year ending Sept. 30, 2010, and just under 16 percent of sales in October, according to the latest figures from HUD.
USDA and VA loan guarantee programs, although smaller, could be affected in similar ways. Those agencies did not immediately respond to requests for comment.
According to a bulletin issued by the National Association of REALTORS®, lenders may continue to process and guaranty mortgages through the VA Loan Guaranty program.
For U.S. Department of Agriculture rural housing programs, staff who typically issue conditional commitments, loan note guarantees, and modification approvals are not classified as "essential personnel," and lenders would not receive approvals in the event of a shutdown, NAR said. Lenders who have received conditional commitments may close those loans.
As the Obama administration and Republican lawmakers continue negotiations over proposed budget cuts, the President has pointed to the potential impacts to FHA lending as one example of how a shutdown "could have real effects on everyday Americans."
"It may turn out that somebody who was trying to get a mortgage can't have their paperwork processed by the FHA and now the person who was going to sell the house -- what they were counting on, they can't get it," President Obama said Wednesday, speaking at a town hall discussion in Pennsylvania on energy policy.
Testifying before Senate lawmakers today, U.S. Housing and Urban Development Secretary Shaun Donovan said he is "very concerned that a significant number of lenders would not choose to close" on pending FHA loans, Dow Jones reported.
Fannie Mae and Freddie Mac, which the government placed under conservatorship in 2008, would not be affected by a shutdown because the Treasury Department's preferred stock purchase agreements with the companies are not subject to the annual appropriations process, said a spokeswoman for their regulator, the Federal Housing Finance Agency (FHFA).
FHFA itself is not subject to a shutdown because it is funded by assessments on Fannie, Freddie and the Federal Home Loan Banks.
Tami Winbury Keller Williams Realty DRE# 08178369
805-798-3412 Short Sale, Foreclosure, REO Designated
img src="http://cache.inman.com/files/graphics/temp-thumb1.jpg" alt="thumbnail image" width="125" height="95" style="margin: 0 10px 10px 0; float: left;"Shutdown would put gov't-backed mortgage insurance on hold
Inman News™
By INMAN NEWS
ShareThis Share This
The budget deadlock and looming shutdown of the federal government wouldn't affect Fannie Mae and Freddie Mac, but it could put the brakes on FHA and other government-backed loan guarantee programs.
The Obama administration has proposed $33 billion in spending cuts, while Republicans are reportedly pushing for $40 billion or more. House Republicans Thursday passed a bill to push back a shutdown by one week. But that bill includes spending cuts opposed by Democrats, and President Obama has threatened a veto if it's approved by the Senate.
In the event of a government shutdown, the Federal Housing Administration "will not be able to endorse any single-family loans, and staff will not be available to underwrite and approve new loans," a HUD spokeswoman told Inman News.
Although so-called "full eagle" lenders vetted by FHA have direct endorsement authority, in the event of a government shutdown FHA would power down its automated systems for processing those loans, in effect suspending all lender insurance approvals.
"Technically, the banks can close on a loan that's been FHA-approved if they want to, but they will be taking the risk on their own books," the HUD spokeswoman said. "Some may choose to do so, but (in the event of a government shutdown), they will not receive FHA insurance until FHA is up and running."
FHA insured mortgages on about 19 percent of home sales in the fiscal year ending Sept. 30, 2010, and just under 16 percent of sales in October, according to the latest figures from HUD.
USDA and VA loan guarantee programs, although smaller, could be affected in similar ways. Those agencies did not immediately respond to requests for comment.
According to a bulletin issued by the National Association of REALTORS®, lenders may continue to process and guaranty mortgages through the VA Loan Guaranty program.
For U.S. Department of Agriculture rural housing programs, staff who typically issue conditional commitments, loan note guarantees, and modification approvals are not classified as "essential personnel," and lenders would not receive approvals in the event of a shutdown, NAR said. Lenders who have received conditional commitments may close those loans.
As the Obama administration and Republican lawmakers continue negotiations over proposed budget cuts, the President has pointed to the potential impacts to FHA lending as one example of how a shutdown "could have real effects on everyday Americans."
"It may turn out that somebody who was trying to get a mortgage can't have their paperwork processed by the FHA and now the person who was going to sell the house -- what they were counting on, they can't get it," President Obama said Wednesday, speaking at a town hall discussion in Pennsylvania on energy policy.
Testifying before Senate lawmakers today, U.S. Housing and Urban Development Secretary Shaun Donovan said he is "very concerned that a significant number of lenders would not choose to close" on pending FHA loans, Dow Jones reported.
Fannie Mae and Freddie Mac, which the government placed under conservatorship in 2008, would not be affected by a shutdown because the Treasury Department's preferred stock purchase agreements with the companies are not subject to the annual appropriations process, said a spokeswoman for their regulator, the Federal Housing Finance Agency (FHFA).
FHFA itself is not subject to a shutdown because it is funded by assessments on Fannie, Freddie and the Federal Home Loan Banks.
Tami Winbury Keller Williams Realty DRE# 08178369
805-798-3412 Short Sale, Foreclosure, REO Designated
Saturday, April 9, 2011
Open House 1/9/11 1-4 An Awesome Ojai Family Home! Short Sale Needs an Offer!
Enter through the private gates of this residence and you will immediately feel the sense of spaciousness and privacy. The large lot is flanked by mature trees and greenery. The large floorplan is open and functional, with large bedrooms, open beams and tons of closet space! There are 2 balconies, a sparkling pool with spa, and 3 fireplaces. This home is ready for your special touches- come make this your home or home away from home! --------------------------------------------------------------------------------
Building Information
- Year Built Exception: 1985
- Tile Roof
- Balcony
- Fireplace in Living Room
- Fireplace in Master Bedroom
- Has Carpet
- Other Flooring/See Remarks
- Concrete Slab Foundation
Lot Information
- Zoning: Ro1ac
Listing Information
- Listing Date: Saturday, January 3, 0011 12:00 AM
Sewer & Water
- Sewer
Location Information
- Subdivision: Ojai: Other
- Directions: Maricopa Hwy to Rancho or Meiners. Property is on the corner of Rancho Dr and Meiners Rd
- Map Book Display: Ventura
- Map Coordinates: E6
- Map Page: 441
Property Information
- APN: 0190041030
Financial Information
- Deposit: $2
- Escrow Time: As soon as possible
Views of 1199 Rancho Dr, Ojai, CA 93023
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