Headlines in Real Estate for week ending February 8th 2013

As prices continue to push higher, FHA continues to raise its reserves passing the cost on to new borrowers which could leave many wouldbe home buyers on the outside looking in. Here are the real estate headlines you may have missed this week:

FHA to hike premiums on mortgages
The Federal Housing Administration, which is the largest insurer of low-down payment mortgages, announced last week that it will raise premiums by 10 basis points, or 0.1 percent, on most of the new mortgages it insures. Read Full Story

What $350,000 buys you in Eastlake
Di Matteo Group
Chula Vista’s real estate market (home prices) has greatly benefited from the recent decline in homes for sale in Chula Vista. This is especially true in East Chula Vista’s neighborhoods.

Growth predicted in home renovations
The New York Times
Homeowners who have been holding off on home improvements, be it a new kitchen or replacement siding, are more likely to call in the contractors in the year ahead. Read Full Story

Buying a foreclosed house at auction can come with surprises
Mercury News
Buyers should be cautious when buying a house sight-unseen or foregoing a home inspection, as is often the case when purchasing a home at auction. Read Full Story

Subprime credit scores on the decline
Designating credit scores below 620 as “subprime,” Equifax found the number of subprime borrowers decreased 2.1 percent from the third quarter of 2011 to the third quarter of 2012. The 2.1 percent translates to about 1 million Americans who rose from the subprime category.

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About Daniel Di Matteo

Realtor at CENTURY 21 Award, Daniel was Voted U-T San Diego’s Best Real Estate Agent in 2014. A Husband, Father, and most recently, accomplished Blog writer, which explains your visit today.