San Diego Real Estate Cafe by Krista Lombardi

Archive for the 'Buyer’s Brew' Category

Top 7 Things To Do in San Diego This Week

 

Don’t ask what the world needs. Ask what makes you come alive, and go do it. Because what the world needs is people who have come alive.
– Howard Thurman

 

 

1. Sunday, January 29- San Diego Chinese New Year Food and Cultural Fair

Come celebrate our 30th annual San Diego Chinese New Year Food and Cultural Fair. Read the rest of this entry »

$1,000 Downpayment Assistance in California

CHDAP Reference Sheet

Program Summary	The California Homebuyer’s Down payment Assistance Program  is a deferred payment, simple interest, junior loan. Can be used for down payment and/or closing costs.
Target Market	First time home buyers anywhere in California
Purpose	Purchase only
Occupancy	Owner Occupied (non occupant co-borrowers not allowed)
Property Requirements	1 unit including condo or PUD
Income Limits Check out your county or Family member size over 4 at: www.calhfa.ca.gov/homeownership/limits/	County # of Family Members 1 2 3 4 San Diego $60,350 $68,950 $77,550 $86,200 Orange $67,850 $77,500 $87,200 $96,850 LA $51,550 $58,900 $66,250 $73,600 Riverside $50,350 $57,500 $64,700 $71,900
Program Sales Price Limits Check out your county or fina a targeted area at: www.calhfa.ca.gov/homeownership/limits/	County New Construction Resale Non Targeted Targeted Non Targeted Targeted San  Diego $635,696 $776,961 $635,696 $776,961 Orange $665,088 $812,885 $665,088 $812,885 LA $665,088 $812,885 $665,088 $812,885 Riverside $455,696 $556,961 $455,696 $556,961
LTV%	Maximum 3% of sales price or appraised value, whichever is less
Lien Position	Junior to acceptable first mortgage loan Does not require CalHFA first SPM allows on FHA T100 program only
Term	Term of the first mortgage
Credit Score	640 Deferred Student Loans require a payment to be included in DTI
DTI	31/43 FHA guidelines; can be exceeded with DU approval and compensating factors
Minimum Contribution by borrower	The contribution must be greater of 1% of the sales price or $1000
Allowable Borrower Fees	$250
Borrower Funds	Must be own funds, gifts cannot be used
Seller Contributions	3% toward all closing costs if 1st LTV>90%
Repayment of P&I	Required at the earliest of the following events: Transfer of Title Sale of the Property Payoff or refinance of the first loan NOD
Price	Page 2 of rate sheet – T100CD
Loan Originator / Processor to provide CalHFA CHDAP approval as a PTD condition.

Top 7 Things To Do In North County This Week

 Another fresh New Year is here…
Another year to live
To banish worry, doubt, and fear,
To love and laugh and give!  ~ William Arthur Ward

 

 

 

 

 

 

 

1. Sunday, January 1- New Years Day Chili Cook-Off

Spice up the New Year! Bring your best chili recipe to be judged during halftime of the Chargers vs. Raiders game. Read the rest of this entry »

Top 7 Things To Do In San Diego This Week

 Your success and happiness lies in you. Resolve to keep happy, and your joy and you shall form an invincible host against difficulties. ~ Hellen Keller

 

 

 

1 Sunday, January 1- Fortune’s 2012 Resolution Party

The last four years our new years guests have experienced something very special with fortune as we have introduced a unique celebration that continued on into january 1st at fortune’s resolution day party. each year this has become more and more of a tradition for san diego’s industry friends and true electronic music fans so we are excited to bring our infamous event back to the ivy rooftop for you again this year!

12:00p
Ivy Rooftop, San Diego,CA

 

2. Monday, January 2- Movie: Shame

Successful and handsome New Yorker Brandon (Michael Fassbender) seems to live an ordinary life, but he hides a terrible secret behind his mask of normalcy. Read the rest of this entry »

Deal Alert! Mission Hills

We were out looking into some properties that have shown up as great deals in the 92103 Mission Hills area.

This property is not a short sale so you do not have to wait between 3 months to 1 year to hear back from a bank only to realize that they are not interested in your price or terms and ask for money.

Read the rest of this entry »

Tags: deals in San Diego, Krista Lombardi, Mission Hills real estate, San Diego real estate

Top 7 Things To Do In North County This Week

“There is only one success – to spend your life in your own way.”
- Christopher Morley

1. Sunday, December 18- Santa Clause vs the Martians

Santa Claus kidnapped by Martians! Will the children on Earth have no toys on Christmas day? This kitschy, tongue-in-cheek comedy is based on the cult-classic B film. (La Jolla) JT Premiere “It’s sillier than a series of boxes inside boxes where the smallest one is filled with outer-space killer-clowns.”

2. Monday, December 19- Holly Jolly Holidays

LEGOLAND® California kicks off Holly Jolly Holidays on Nov. 28 when a celebrity guest lights the world’s tallest LEGO® Christmas tree in the annual tree lighting ceremony and continues through Dec. 31 when the season concludes with Kids’ New Year’s Eve. Read the rest of this entry »

Top 7 Things To Do In North County This Week

Every piece of the universe, even the tiniest little snow crystal, matters somehow. I have a place in the pattern, and so do you…Thinking of you this holiday season!
– T.A. Barron

1.  Sunday, December 11-Holiday Home Tour

The Friends of the Oceanside Public Library are pleased to announce the 2011 Holiday Home tour. Read the rest of this entry »

Are You Curious About The State Of Your Neighborhood’s Real Estate Maket?

Feds Warn Against Tax Scammers

The Internal Revenue Service is warning Californians about a ring of scammers who take advantage of people by posing as tax preparers.

The San Jose Mercury News says the scammers target mainly Asian groups at community centers and churches. They charge up to $200 and offer to help their victims get tax credits through a program that doesn’t exist.

IRS spokesman Jesse Walter says the agency has received hundreds of reports of the scam in recent weeks from San Jose, Oakland, Sacramento, Fresno and other cities.

No arrests have been made yet.

Tags: IRS warns against tax scams, San Diego real estate

Loan Limits Extended

No more worries about the loan limits stopping at $625,500.00 at least for the next year.  This means that above that dollar amount homebuyers would need to bring cash to the table to be able to purchase the home.

Right now housing markets are fragile and this bill ensures that the market is not further rocked, causing more declines in home values and making it harder for others to purchase a home.

Tags: loan limits