Treasury 怒了 -- mortgage industry could be sanctioned for poor results in mortgage plan.
@@Mortgage finance company Freddie Mac has hired an outside company Titanium Solutions Inc. to send real estate agents around the country to knock on borrowers' doors and help them complete the paperwork.@@
Homeowners who may be eligible for assistance can call 888-995-HOPE, or visit the Web site http://www.makinghomeaffordable.gov
11月30号: http://www.makinghomeaffordable.gov/pr_11302009.html
In the mean time, rate dipped to record low!! I emailed many of my clients and neighbors and friends that the good rate -- 4.875 for high balance and no cost. This rate is really good. But I got a feel that the rate will dip again. So we will see.
Monday, November 30, 2009
Wednesday, November 25, 2009
Del Norte High School (DNHS) 介绍Del Norte高中
Del Norte高中有将近800个学生（大概有525个一年级学生和275个2年级学生）。现在的enrollment是开放的，不管你是不是住在这附近都可以来上。 将来会有2200个学生。 校园有212，000 sf, 48个教室。 整个校园占地是63英亩。
Del Norte高中目前有25个俱乐部。有艺术，政治，文化，科学，人文。有自己的棒球队和体操队。 排球队也在组成中。 体育活动有水球，长跑，高尔夫球，网球，排球。还有游泳，潜水，和田径。
Written by A.Z. (my 8 yrs old)
Del Norte High School (DNHS) was opened in August 2009, with the enrollment of approximately 800 students. Right now, it only has freshman and sophomore classes. So you see this is a brand new school, that’s why there is no School Accountability Report Card (SARC) available yet. I believe the 1st report will be available in August 2010.
Unlike Westview High School, DNHS adopts trimester schedule (3x5 system), which is quite unique in Poway School District (Westview is 4x4; RBHS is 2x6 system)). For more information about trimester, please click the following link:
http://www.powayusd.com/pusddnhs/about/trimester.shtml
I personally believe DNHS will be one the best high schools in Poway or even in whole San Diego. It has the best student sources (more than 30% Asian students and about 55% White students with decent home income); it has the best teachers and administrators (its principal is Greg Mizel, who is the former principal of Mesa Verde Middle School.); and it also has the best facility (the construction of this brand new school costs more than $100 million).
For me, DNHS is the main reason that my family will move to 4S Ranch in early May.
For more information about DNHS, please check the following links:
http://en.wikipedia.org/wiki/Del_Norte_High_School_(San_Diego,_California)
http://www.powayusd.com/pusddnhs/
Complimentary information written by Judy J. my close friend.
Del Norte高中目前有25个俱乐部。有艺术，政治，文化，科学，人文。有自己的棒球队和体操队。 排球队也在组成中。 体育活动有水球，长跑，高尔夫球，网球，排球。还有游泳，潜水，和田径。
Written by A.Z. (my 8 yrs old)
Del Norte High School (DNHS) was opened in August 2009, with the enrollment of approximately 800 students. Right now, it only has freshman and sophomore classes. So you see this is a brand new school, that’s why there is no School Accountability Report Card (SARC) available yet. I believe the 1st report will be available in August 2010.
Unlike Westview High School, DNHS adopts trimester schedule (3x5 system), which is quite unique in Poway School District (Westview is 4x4; RBHS is 2x6 system)). For more information about trimester, please click the following link:
http://www.powayusd.com/pusddnhs/about/trimester.shtml
I personally believe DNHS will be one the best high schools in Poway or even in whole San Diego. It has the best student sources (more than 30% Asian students and about 55% White students with decent home income); it has the best teachers and administrators (its principal is Greg Mizel, who is the former principal of Mesa Verde Middle School.); and it also has the best facility (the construction of this brand new school costs more than $100 million).
For me, DNHS is the main reason that my family will move to 4S Ranch in early May.
For more information about DNHS, please check the following links:
http://en.wikipedia.org/wiki/Del_Norte_High_School_(San_Diego,_California)
http://www.powayusd.com/pusddnhs/
Complimentary information written by Judy J. my close friend.
Fannie Mae announces a sale lease-back program for a deed-in-lieu
On November 5, 2009, Fannie Mae launched what they characterize as a Deed-For-Lease in lieu of foreclosure program. The program allows a financially-distressed homeowner who does not qualify for a loan modification to stay in his home as a tenant by exchanging title to his property for a one-year lease agreement. The program does not include a repurchase option.
Rent under the program is capped at 31% of the homeowner’s pre-tax income, with lease agreements for periods up to 12 months with a renewal or extension on a month-to-month basis. If the home is sold during the term of the lease, the buyer takes title subject to (“inherits”) the lease.
At last the government, through its mortgage arm Fannie Mae, is getting realistic with negative equity homeowners in California, most of who do not qualify for modification as they are at loan-to-values (LTVs) in excess of 125%. Fannie Mae could not previously admit to the obvious: take a deed-in-lieu of foreclosure, and if it could not instantly be resold as a real estate owned (REO) property, lease back the property to the homeowner who could/would not pay on the loan. However, the government agency must still foreclose on homeowners who have second liens on their homes in order to convey title to the property on resale as an REO.
Rent under the program is capped at 31% of the homeowner’s pre-tax income, with lease agreements for periods up to 12 months with a renewal or extension on a month-to-month basis. If the home is sold during the term of the lease, the buyer takes title subject to (“inherits”) the lease.
At last the government, through its mortgage arm Fannie Mae, is getting realistic with negative equity homeowners in California, most of who do not qualify for modification as they are at loan-to-values (LTVs) in excess of 125%. Fannie Mae could not previously admit to the obvious: take a deed-in-lieu of foreclosure, and if it could not instantly be resold as a real estate owned (REO) property, lease back the property to the homeowner who could/would not pay on the loan. However, the government agency must still foreclose on homeowners who have second liens on their homes in order to convey title to the property on resale as an REO.
Wednesday, November 18, 2009
Mortgage Delinquencies Are Still Rising
Mortgage delinquencies rose for the 11th straight month, reaching 6.25 percent in the third quarter from 3.96 percent a year earlier and 5.81 percent in the second quarter, according to the credit management company TransUnion.
"Until the housing market can consistently demonstrate several months of home value appreciation and the unemployment rate improves, mortgage delinquency will likely continue to rise," said F.J. Guarrera, vice president of TransUnion's financial services division.
"Until the housing market can consistently demonstrate several months of home value appreciation and the unemployment rate improves, mortgage delinquency will likely continue to rise," said F.J. Guarrera, vice president of TransUnion's financial services division.
Builders are no exceptional...
Monday, November 16, 2009
明年的房市往哪走
会double dip的说法是：工作不好找而且失业率继续上升。MORTGAGE DEFAULT 的房子会越来越多
会稳定的人说：圣地亚哥有钱人多的是。 通货膨胀。 钱不值钱了。 大家会更加进房市。
另外，现在银行不急于FORECLOSURE房子了，两房允许欠款的房主，变为租客，总统还让两房外包一些agent上山下乡去敲门帮助填写天书一样的loan modification的申请。
所以我觉得全看各行各业的工作到底怎么样，大家都有工作，好区的房市可能也就这样了。
会稳定的人说：圣地亚哥有钱人多的是。 通货膨胀。 钱不值钱了。 大家会更加进房市。
另外，现在银行不急于FORECLOSURE房子了，两房允许欠款的房主，变为租客，总统还让两房外包一些agent上山下乡去敲门帮助填写天书一样的loan modification的申请。
所以我觉得全看各行各业的工作到底怎么样，大家都有工作，好区的房市可能也就这样了。
Sunday, November 8, 2009
Thursday, November 5, 2009
Tax credit extension passed
意料之中。延期到明年的4月底。
更好的是existing homeowners也有份了。不过要住满5年。
更妙的是这回基本上大家都可以qualify了。 工资的标准涨了很多。 从7万5到12万5了！
The tax credit will be extended through April 30, 2010, with a 60-day extension if a binding contract is in place prior to the deadline. First-time home buyers will continue to receive a tax credit of up to $8,000, while existing homeowners will receive a reduced credit of up to $6,500. Existing homeowners will be eligible for the $6,500 if they have lived in their current residences for at least five years. The bill also will increase the qualifying income limits from $75,000 for single tax filers and $150,000 for joint filers, to $125,000 and $225,000, respectively. The purchase price of the home is capped at $800,000.
更好的是existing homeowners也有份了。不过要住满5年。
更妙的是这回基本上大家都可以qualify了。 工资的标准涨了很多。 从7万5到12万5了！
The tax credit will be extended through April 30, 2010, with a 60-day extension if a binding contract is in place prior to the deadline. First-time home buyers will continue to receive a tax credit of up to $8,000, while existing homeowners will receive a reduced credit of up to $6,500. Existing homeowners will be eligible for the $6,500 if they have lived in their current residences for at least five years. The bill also will increase the qualifying income limits from $75,000 for single tax filers and $150,000 for joint filers, to $125,000 and $225,000, respectively. The purchase price of the home is capped at $800,000.
Tuesday, November 3, 2009
看房日记
Very detailed information and my comments on the houses I looked with my clients.
Sorry but this blog opened to my clients only.
Please email me if you want to be added to the viewers' list.
Sorry but this blog opened to my clients only.
Please email me if you want to be added to the viewers' list.
Thursday, October 22, 2009
烂尾房也有春天
John Laing 倒闭后留下了9个烂尾房。 看着就堵心。
不过，烂尾房总算是盼来了新主儿。 从这周开始，sales office又开了。 价格还是和John Laing倒闭前一样，没有太大的变化。 Dec move in.
很多人感兴趣。 毕竟市场上没有什么新房。
Sunday, October 18, 2009
100 DIY Upgrades for Under $100
You don't need a fat budget to give your home a noticeable boost. Invest a little and get a big improvement in how your home looks and feels. The editors of This Old House give you their top tips.
Saturday, October 17, 2009
Tuesday, October 13, 2009
BoA Struggles With Loan Modifications
Only 11 percent, about 95,000, of Bank of America’s delinquent borrowers who are potentially eligible for the program have been given a loan modification.
There appear to be multiple problems, not the least of which is that many of the employees handling the modifications are completely new to the business. Angry investors complicate the issue, with 15 percent of them demanding that the bank get their approval for every single case.
There appear to be multiple problems, not the least of which is that many of the employees handling the modifications are completely new to the business. Angry investors complicate the issue, with 15 percent of them demanding that the bank get their approval for every single case.
每天都有100个foreclosure...just BOA only...
Monday, October 12, 2009
Saturday, October 10, 2009
Coming soon in 4S Ranch!!
Andalusia and Monteluz are new communities! Coming soon to 4S Ranch. They are on the very north of the 4S. (Passing Evergreen and Piaza's)
Model homes still under construction and unaccessible now.
BTW, Silhouette's 烂尾房也开始整修重建了。一片生机勃勃的景象。。
Carmel Valley Townhouse: Crest
Carmel Valley的小资condo之一。 有1351（2 bedrooms) 和1564 (3 bedrooms) 的floorplan. 户型设计的有些复式的感觉。高厅，Split-level。 位置是Carmel Valley的中心地带。 在El Camino Real上。 去哪里都很方便。 去Shopping可以走着就到了。有很好的游泳池和spa外加一个健身房。
Saturday, October 3, 2009
Carmel Valley Townhouses Summary
Airoso:
2005建。 2-4 bedrooms 230 户。 4种户型。 1478 到 1572. HOA 226. 有健身房。无院子。 前面有一个小阳台。
优点： 新。 靠近CCA.
缺点： 太近56， 有些unit比较吵。有噪音。
Andalucia:
以前是出租房（02年建）后于04年开始卖。 一共181家。Split level （跃层）2卧室的是1231平尺 3卧室的是1388平尺. HOA358. 有健身房。无院子。
优点： 近中学。 超近距离。 新。 厨房都是不锈钢厨具和大理石台面。高厅。
缺点： HOA较高。
Cambria:
在del mar heights北面。 PARDEE88年建的。 235户。 1203 到1445平尺。 HOA： 278+32.
优点：附近环境不错，很多树木。
缺点： 旧。 HOA高。
Canyon Ridge:
96到98年建。 Twin homes. 有院子。 有gate。 高厅。 116户。 1660到1859平尺. HOA168. MR：905 一年。
优点： 有门，HOA比较低。 Floor plan比较好。有自己的院子。
缺点： 不能走路去小学和初中。
Chateau Village:
Twin homes. Pardee 93年建。 170户。 只有2种plan, 1151 or 1532 平尺。 HOA 205 MR 565一年。有网球场。有院子。
优点：大号的plan比较nice.
缺点： 走路不能上小学。 而且不少的unit可以听到5号的噪音。
Crest:
Carmel Valley的小资房。 跃层结构。 没有院子。 197户。 97年98年建。 三种户型从1300 到1584 平尺。HOA210。MR791一年。
优点：最大号的plan比较nice. 厨房大而且独立。
缺点： 走路不能上小学。 进门处的unit有噪音。
Elysian:
环境优美的小区，160个condo, 91年建。 只有2个卧室。 最大的1191sf.
Hylcyon:
曾经得过最佳设计奖。 没有院子。 地理位置好。 走路上所有的学校和购物中心，图书馆，公园。 1988年建184户。 户型从1123到1694不等。 HOA 250-280.
优点： 地理位置好。
缺点： 比较挤。 难停车。 有些unit是半地下室。
Mentemar:
93年建。 119户。 和Palermo相连。 地理位置好。 走路去所有的地方。 小区环境不错。 安静。 除了一边靠Carmel Country的会吵一些。 有网球场。 低HOA 120， MR 678-790一年。
优点： 地理位置好。有院子。
缺点：
Pacifica:
Del Mar Height的北面。 90年建192户。 Plan1是1400平尺。 Plan 2是1600平尺左右。 HOA 268. MR550 到678一年。
优点：
缺点：旧。
Palermo:
196户 93年建。 有condo有townhouse. 无院子。HOA 118， MR 565.
优点： 地理位置好。
缺点：
Regent Square:
Carmel Valley最高级的Townhouse. 现代的设计。 面积大。 一共才60户。 于02-04年建。 1945平尺到2164平尺。HOA 285.
优点： 地理位置好。
缺点： 贵！
2005建。 2-4 bedrooms 230 户。 4种户型。 1478 到 1572. HOA 226. 有健身房。无院子。 前面有一个小阳台。
优点： 新。 靠近CCA.
缺点： 太近56， 有些unit比较吵。有噪音。
Andalucia:
以前是出租房（02年建）后于04年开始卖。 一共181家。Split level （跃层）2卧室的是1231平尺 3卧室的是1388平尺. HOA358. 有健身房。无院子。
优点： 近中学。 超近距离。 新。 厨房都是不锈钢厨具和大理石台面。高厅。
缺点： HOA较高。
Cambria:
在del mar heights北面。 PARDEE88年建的。 235户。 1203 到1445平尺。 HOA： 278+32.
优点：附近环境不错，很多树木。
缺点： 旧。 HOA高。
Canyon Ridge:
96到98年建。 Twin homes. 有院子。 有gate。 高厅。 116户。 1660到1859平尺. HOA168. MR：905 一年。
优点： 有门，HOA比较低。 Floor plan比较好。有自己的院子。
缺点： 不能走路去小学和初中。
Chateau Village:
Twin homes. Pardee 93年建。 170户。 只有2种plan, 1151 or 1532 平尺。 HOA 205 MR 565一年。有网球场。有院子。
优点：大号的plan比较nice.
缺点： 走路不能上小学。 而且不少的unit可以听到5号的噪音。
Crest:
Carmel Valley的小资房。 跃层结构。 没有院子。 197户。 97年98年建。 三种户型从1300 到1584 平尺。HOA210。MR791一年。
优点：最大号的plan比较nice. 厨房大而且独立。
缺点： 走路不能上小学。 进门处的unit有噪音。
Elysian:
环境优美的小区，160个condo, 91年建。 只有2个卧室。 最大的1191sf.
Hylcyon:
曾经得过最佳设计奖。 没有院子。 地理位置好。 走路上所有的学校和购物中心，图书馆，公园。 1988年建184户。 户型从1123到1694不等。 HOA 250-280.
优点： 地理位置好。
缺点： 比较挤。 难停车。 有些unit是半地下室。
Mentemar:
93年建。 119户。 和Palermo相连。 地理位置好。 走路去所有的地方。 小区环境不错。 安静。 除了一边靠Carmel Country的会吵一些。 有网球场。 低HOA 120， MR 678-790一年。
优点： 地理位置好。有院子。
缺点：
Pacifica:
Del Mar Height的北面。 90年建192户。 Plan1是1400平尺。 Plan 2是1600平尺左右。 HOA 268. MR550 到678一年。
优点：
缺点：旧。
Palermo:
196户 93年建。 有condo有townhouse. 无院子。HOA 118， MR 565.
优点： 地理位置好。
缺点：
Regent Square:
Carmel Valley最高级的Townhouse. 现代的设计。 面积大。 一共才60户。 于02-04年建。 1945平尺到2164平尺。HOA 285.
优点： 地理位置好。
缺点： 贵！
Friday, September 25, 2009
Thursday, September 24, 2009
Pacific Highlands Ranch
准备写一个比较完整的Carmel Valley的各个小区介绍. 先来离我最近的。 Pacific Highlands Ranch:
从Del Mar Height & Carmel Valley交界开始：
1. Arabella
Pardee在05到07年之间开发的。有3个plan. Plan1比较小，2006sf. 楼下就是客厅厨房加一个formal dining. 楼上3间卧室。 都不是很大。 Plan2是2056. Plan3最大有2456sf. 楼下可以有option加一卧室。 楼上3间卧室加一个loft(可以改成卧室）。 Lot size不大，4000左右。
价格大概80到90万之间。HOA 225, MR 220.
2. Santa Rosa
是Pardee同期开发的3000尺左右的房子。 Plan1 2952sf. Plan3 3600sf. Lot 6000到8000尺不等。
当年基本上都是110万-120万开价。
3. Portico
Pardee 2004年推出的为了配合喜欢Carmel Valley又囊中羞涩的人群开发的貌次townhouse其实是single family的房型。 一共4个房型。 从2100到2400不等。 其中plan3还得到过一个设计的award。 （plan3的设计中国人喜欢。 门在正中间，两边对称的）
4. 最新开发的楼盘Manzanita Trail. 我单独有介绍。 这里不重复了。
1，2,3 & 4 一起，算是，或者说，叫做Pacific Highlands Ranch。
Pardee总是大力鼓吹自己是living smart, 强调自己的energy saving的选择。 不过他自己才真是smart。 早在10多年前都买下了carmel valley一众空地。 虽然这几年bubble破了，在LV损失不少，但是sd这边稳打稳扎，稳赚不赔。 题外话了。
5. Santa Babara: 85 units.
顺着Del Mar Height往西走，路右手边一个gated community 是Santa Babara. 也是Pardee建的。 最外面的一圈都有canyon view. 房子比较大，3377到4000. Lot也不小。 尤其是有view的lot很大。 03年的时候都要卖到100万了。 （HOA106，MR120）Santa Babara goes to Carmel Creek which only has up to 4th grade.
6. Solein & Bordeaux
Bordeaux 是Pardee2004年的楼盘。 一共有287户。 从2500到2700. Pardee05到06年期间又在相连的地做了Solein。 Solein的户型设计颇受好评。 导致现在在卖的Bridal Ridge沿用的和Solein同样的户型。
Solein和Bordeaux go to Sycamore Ridge school. (Del Mar Union School District) Only 4 years old but very good school! (New and good API). The Principle's last name is DISNEY! And she writes a blog! Check it out!
从Del Mar Height & Carmel Valley交界开始：
1. Arabella
Pardee在05到07年之间开发的。有3个plan. Plan1比较小，2006sf. 楼下就是客厅厨房加一个formal dining. 楼上3间卧室。 都不是很大。 Plan2是2056. Plan3最大有2456sf. 楼下可以有option加一卧室。 楼上3间卧室加一个loft(可以改成卧室）。 Lot size不大，4000左右。
价格大概80到90万之间。HOA 225, MR 220.
2. Santa Rosa
是Pardee同期开发的3000尺左右的房子。 Plan1 2952sf. Plan3 3600sf. Lot 6000到8000尺不等。
当年基本上都是110万-120万开价。
3. Portico
Pardee 2004年推出的为了配合喜欢Carmel Valley又囊中羞涩的人群开发的貌次townhouse其实是single family的房型。 一共4个房型。 从2100到2400不等。 其中plan3还得到过一个设计的award。 （plan3的设计中国人喜欢。 门在正中间，两边对称的）
4. 最新开发的楼盘Manzanita Trail. 我单独有介绍。 这里不重复了。
1，2,3 & 4 一起，算是，或者说，叫做Pacific Highlands Ranch。
Pardee总是大力鼓吹自己是living smart, 强调自己的energy saving的选择。 不过他自己才真是smart。 早在10多年前都买下了carmel valley一众空地。 虽然这几年bubble破了，在LV损失不少，但是sd这边稳打稳扎，稳赚不赔。 题外话了。
5. Santa Babara: 85 units.
顺着Del Mar Height往西走，路右手边一个gated community 是Santa Babara. 也是Pardee建的。 最外面的一圈都有canyon view. 房子比较大，3377到4000. Lot也不小。 尤其是有view的lot很大。 03年的时候都要卖到100万了。 （HOA106，MR120）Santa Babara goes to Carmel Creek which only has up to 4th grade.
6. Solein & Bordeaux
Bordeaux 是Pardee2004年的楼盘。 一共有287户。 从2500到2700. Pardee05到06年期间又在相连的地做了Solein。 Solein的户型设计颇受好评。 导致现在在卖的Bridal Ridge沿用的和Solein同样的户型。
Solein和Bordeaux go to Sycamore Ridge school. (Del Mar Union School District) Only 4 years old but very good school! (New and good API). The Principle's last name is DISNEY! And she writes a blog! Check it out!
Saturday, September 19, 2009
3 Big Banks now Dominate Mortgage Market
According to WSJ, more than half of U.S. residential mortgage are being made by just three large banks. While big banks are originating lots of mortgages, they are selling nearly all of them to Fannie Mae and Freddie Mac. Treasury-backed entities are guaranteeing about 85% of new mortgages, while the Fed buys 80% of the securities into which these taxpayer-backed mortgages are packaged.
Despite the bust, conforming mortgages that qualify for government backing remain mispriced. That can be seen in the fact that banks have no desire to keep the most common mortgage on their books.
"Too Big to Fail" now becomes even more "Too Big to Fail".
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