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Friday, January 23, 2015

FHA loans getting cheaper

Guest Blogger: Today's post is written by Sacramento Mortgage Expert, Matt Gouge.  All of his contact info and more can be found at this website: www.mattthemortgageguy.com. Thank you Matt for providing this great info for potential buyers in our Sacramento Real Estate Market.

FHA’s reduction of mortgage insurance premium – What does that mean?



When you heard the announcement that FHA will reduce its annual mortgage insurance premiums from 1.35% to 0.85% it sounded good, but perhaps you don’t know what that really translates to. Allow Matt The Mortgage Guy to simplify it.
The purpose of an FHA-insured loan is to encourage home-ownership, even among people who may have small down payments or poor credit. It does so by federally insuring the loan, which defrays some of the risk from the lending institution. With this extra risk they take on these loans they charge an annual mortgage insurance premium (MIP).

Here is an example of the change*:
Pre-change: If you borrow $250,000 using an FHA loan your annual MIP (1.35%) would be $3375  ($281/mo)
Post change: You borrow the same $250,000 with an FHA loan but your annual MIP (0.85%) is $2125  ($177/mo)

It may not seem like a huge deal but for folks buying their first home or bouncing back from the market crash, this $100/mo could be the difference between renting and buying.

This change, in my opinion, was long overdue. In order to support the housing markets recovery FHA needs to make their loans affordable to those who utilize this financing option. This is another step in the right direction and one that will help millions of homeowners in the coming years. Good on you FHA!

If you or someone you know is looking into buying and you want to know all of your options, (many of which require very little down payment), I encourage you to reach out to a mortgage professional. You may be surprised to learn that you are ready to take that exciting leap of becoming a homeowner.

*Effective January 26, 2015


Connecting people and homes, one loan at a time…
#MattTheMortgageGuy
916-529-7600
NMLS # 1088993














Thanks again Matt for your guest blog post.

Connect with Doug Reynolds Real Estate via FacebookYouTube, and Follow his Blog.

clear skies,
Doug Reynolds
Realtor

916-494-8441


doug.reynolds@BHGhome.com 

         

Tuesday, January 20, 2015

Sacramento Real Estate Market - Tabulation Tuesday SnapShot - 1/20/2015

I'm a stats geek and love analyzing the Sacramento Real Estate market numbers, so...

Every Tuesday i provide a quick snapshot of what's going on with the market.  Call/Email/Text/or leave a comment below if you have any questions or opinions...





ACTIVE Inventory

2,391 available homes on the market
2,359 last week
2,310 two weeks ago
2,402 three weeks ago


PENDING inventory

1,490 homes currently in escrow
1,433 last week
1,369 two weeks ago
1,502 three weeks ago


Median Price of homes sold for the Month

January - currently: $260,000
December -       $268,000
November -       $265,000
October -           $272,000
September -      $275,000
August -            $270,000



Closings for the month

January - Currently: 402
December -  1,313
November -  1,081
October -     1,375
September - 1,396
August   -     1,428


Connect with me via FacebookYouTube, and Follow my Blog.

clear skies,
Doug Reynolds
Realtor
916-494-8441
 

         

Monday, January 19, 2015

2014 Sacramento Real Estate year in review Video



Doug Reynolds, a Sacramento Area Realtor, provides a recap of what went on in the Sacramento Real Estate market during 2014.

2014 was one of the most "Normal" years for Sacramento Real Estate in over a decade.  It was a "Healthy" Balanced market that saw some appreciation but not an unsafe amount.  There were still cash purchases but the amount of Conventional and FHA buyers returned to a steady number.  The inventory played a large part in providing balance to the market as well.

Connect with Doug Reynolds Real Estate via FacebookYouTube, and Follow his Blog.

clear skies,

Doug Reynolds

Realtor

916-494-8441



         

JUST SOLD - 8920 New Dawn Dr, Sacramento, CA 95826 - www.BuyWithDoug.com - Doug Reynolds Real Estate

Just SOLD!!! 1-14-2015 in Rosemont (Sacramento, Ca). Congratulations to my buyer, a wonderful client and friend.  So proud of you purchasing your first home in an area that you know and love so much.  I look forward to seeing all the unique changes you make to the house as you make it your "home."  Congrats.  I was honored to represent you and guide you through the home buying process.



3 bedroom 2 bath 2 car garage single Story home.New Carpet & Fresh Paint,New AC and furnace installed in 2012.Close to great schools,Rosemont Community Park, HWY 50,public transportation and shopping. Great starter home.'This charming home is move-in ready!!' One you don't want to miss!!!


Connect with Doug Reynolds Real Estate via FacebookYouTube, and Follow his Blog.

clear skies,

Doug Reynolds

Realtor

916-494-8441



         

Sunday, January 18, 2015

"Wild Guess" Predictions for 2015 Sacramento Real Estate Video



Nobody has a crystal ball and especially not in real estate. But...

Doug Reynolds, a Sacramento Area Realtor, gives his "wild guess" predictions for the 2015 Sacramento Real Estate market.  In this video, Doug talks about interest rates, inventory, cash buyers, appreciation, market values, balance between buyers and sellers

Jot this info down and give Doug a call or email in one year and let him know how right or wrong he truly was :)

Connect with Doug Reynolds Real Estate via FacebookYouTube, and Follow his Blog.


clear skies,

Doug Reynolds

Realtor

916-494-8441



         

Friday, January 16, 2015

Sacramento Real Estate Video Market Update January - February 2015




Doug Reynolds, a Sacramento Area Realtor, discusses the latest market stats for Sacramento.

This month Doug focuses on the end of the year numbers and how inventory will be changing in the next few months to come.

Connect with Doug Reynolds Real Estate via FacebookYouTube, and Follow his Blog.


clear skies,

Doug Reynolds

Realtor

916-494-8441



         

Tuesday, January 13, 2015

Sacramento Real Estate Market - Tabulation Tuesday SnapShot - 1/13/2015

I'm a stats geek and love analyzing the Sacramento Real Estate market numbers, so...

Every Tuesday i provide a quick snapshot of what's going on with the market.  Call/Email/Text/or leave a comment below if you have any questions or opinions...





ACTIVE Inventory

2,359 available homes on the market
2,310 last week
2,402 two weeks ago
2,519 three weeks ago


PENDING inventory

1,433 homes currently in escrow
1,369 last week
1,502 two weeks ago
1,549 three weeks ago


Median Price of homes sold for the Month

January - currently: $267,500
December -       $268,000
November -       $265,000
October -           $272,000
September -      $275,000
August -            $270,000



Closings for the month

January - Currently: 202
December -  1,327
November -  1,081
October -     1,375
September - 1,396
August   -     1,428


Connect with me via FacebookYouTube, and Follow his Blog.

clear skies,
Doug Reynolds
Realtor

916-494-8441


doug.reynolds@BHGhome.com