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
CNNMoney
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
DSNews
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
THE REAL ESTATE BUSINESS HAS LESS TO DO ABOUT SELLING PROPERTIES AND EVERYTHING TO DO ABOUT HELPING PEOPLE.
