First Time Homebuyer Federal Tax Credit of up to $8000

A tax credit of up to $8,000 is available for qualified first-time home buyers purchasing a principal residence on or after Jan 1, 2009 and before Dec 1, 2009.For more details, visit www.federalhousingtaxcredit.com
To sign up for our private first time homebuyers’ consultation, please email kathy@parcbay.com or call 415-370-3776. You will learn about how to qualify for [...]

HUD: Tax Credit Can Be Used on Closing Costs

FHA-approved lenders received the go-ahead to develop bridge-loan products that enable first-time buyers to use the benefits of the federal tax credit upfront, according to eagerly awaited guidance from the U.S. Department of Housing and Urban Development on so-called home buyer tax credit loans that was released today.
Under the guidance, [...]

California running out of $10000 tax credits

First-time home buyers wanting to take advantage of the state’s $10,000 tax credit may have less time than originally expected.  California set aside $100 million to help home buyers purchase newly built homes, hoping to jump start the residential-construction market.  According to state officials, the tactic has worked well and is helping to entice home [...]

New Federal Law Affecting Distressed Properties

This week, President Barack Obama signed into law the Helping Families Save Their Homes Act of 2009 to help homeowners and lenders avoid foreclosure.  Previously included in this bill was a measure to allow bankruptcy judges to modify mortgage loans for principal residences, but the U.S. Senate did not pass this “cram-down” legislation.
The Helping Families [...]

Q&A: is it true that the conforming loan limits are going to be reduced soon

Q&A: Is it true that the conforming loan limits are going to be reduced soon?
The increased credit limits implemented by the 2008 Economic Stimulus Packages are decreasing on January 1, 2009, to $625,500. It’s true! The conforming loan limit had been $417,000, but it was raised in 2007 to $729,750 so people buying property in [...]

What is the Housing Rescue Bill

The primary purpose of the Housing Rescue Bill (passed by the Senate at the end of July 2008) is to help 400,000 homeowner avoid foreclosure. The bill is also meant to strengthen government-sponsored mortgage buyers Fannie Mae and Freddie Mac.
The bill includes a tax refund for first-time homebuyers worth up to 10% of their home’s [...]

Don’t Skimp on Homeowners’ Insurance

Daily Real Estate News | June 9, 2008
Don’t Skimp on Homeowners’ Insurance
Buyers who try to save money by cutting back on their homeowners’ insurance coverage could regret it, a new study warns.
United Policyholders, a San Francisco consumer organization, analyzed the aftermath of last fall’s forest fire in California. The group’s research found that 75 [...]

Better Terms Coming for Jumbo Loans

Great article from today’s news: Executives from Fannie Mae and Freddie Mac told Congress on Thursday that they are reducing interest rates on some jumbo mortgages.
They said their more aggressive purchases in recent weeks of loans between $417,000 and $729,750 have brought rates down.
Prices still remain relatively high compared to rates for lower amounts [...]

New Rental Listing – Luxurious living at The Infinity

We have few exclusive rentals at The Infinity.  Address is 301 Main Street, San Francisco.  For more information, please visit http://rentals.parcbay.com
Brand new, luxurious living, full service buildings. Located in desirable SOUTH BEACH district.
Amenities are:

Indoor swimming pool
Yoga/exercise room
State of the art 5000 sq ft fitness center
Business Center
Residence louge

Approx. 1187 sq ft, 2 bedrooms plus den with one [...]

Did you know…Loan Limit Numbers Released – Latest Updated!

Government Announces Conforming Loan Limit Increases

The Office of Federal Housing Enterprise Oversight (OFHEO) today (March 07, 2008) announced it has temporarily increased limits on conforming loans offered by government-sponsored enterprises, Fannie Mae and Freddie Mac, from $417,000 to as high as $729,750 in fourteen counties in California for loans originated between July 1, 2007 and Dec. 31, [...]

Fed Ready to Cut Interest Rates Again

This is from today’s news Feb 27, 2008. WASHINGTON (AP) — The Federal Reserve is ready to lower interest rates again to brace the wobbly economy even as zooming oil prices spread inflation, Chairman Ben Bernanke signaled to Congress on Wednesday. He is fighting to keep the economy afloat after mighty blows from the housing [...]

Existing-Home Sales and Prices Overview

We would like to share this good resources from NAR Research team which contains the following: current sales rates, actual totals and median prices by month going back 12 months. Annual totals for three years. These figures include condos and co-ops, in addition to single-family homes — rolled into monthly and annual totals. Figures for the [...]

New Laws 2008 – Discrimination by Landlord Based on Immigration or Citizenship

Under this new law, landlords of residential real property cannot use immigration or citizenship as a criterion when dealing with existing or prospective tenants (or any occupant). Specifically, landlords and agents of the landlord may not make any inquiry into immigration or citizenship status; nor can the landlord require prospective tenant or occupant to make [...]

Stimulus Plan to Benefit Jumbo Borrowers

The biggest winners in the economic rescue plan that passed the U.S. Congress on Thursday and awaits President Bush’s signature are middle- to upper-income Americans who can refinance their jumbo home loans at cheaper rates.The stimulus package temporarily raises the maximum size of mortgages that Fannie Mae and Freddie Mac can purchase and market as [...]

Web Site that lets people dish about their neighbors – RottenNeighbor.com

RottenNeighbor.com is a Web site that lets people dish about their neighbors — both the good and the bad.
Type in any address and if someone has posted something negative about it, a bright red house pops up on top of the satellite image. Green house icons show up where the nice neighbors live.
There are [...]

Fed Cuts Interest Rates by 1/2 Point

Great news if you are looking to refinance and/or purchase a new home. If you have an adjusted ARMs program and wanted to get a fixed rate, you should consider to get a free quote now.
From today’s news: The Federal Reserve on Wednesday cut a key interest rate for the second time in just over a [...]

Conforming loan amount will increase to help boost up housing market

On Jan 25, 2008, according to House Republican Leader Rep. John Boehner, a side agreement to the proposed $150 billion economic stimulus package would raise the conforming loan limit from $417,000 to $725,000, allowing Fannie Mae and Freddie Mac (“the GSEs”) to buy up and guarantee loans now considered “jumbo.” The upper limit for FHA [...]

5 Simple Ways to Increase a Home’s Value

Here is a good article to learn how to improve home’s value from today’s real estate news.
Below are five basic steps that every home owner ought to take – before spending money on dream bathrooms or gourmet kitchen.

Safety – Make sure smoke detectors and carbon monozide detectors are installed and in good working order. Make [...]

Latest News – National Home Prices Face Modest Decline

Here is an update on Real Estate trends from today’s news. See below.
While some housing markets in Florida, Nevada, and California have had sharp declines, nationally home prices have been far less dramatic.Home prices fell 0.4 percent nationally in the third quarter, according to the Office of Federal Housing Enterprise Oversight. That’s the first decline after [...]

Did you know…2007 New Laws – California Capital Gains Taxes

In most real estate transactions, escrow companies were previously required to withhold 3 1/3 percent of the sales price. Common exceptions to this requirement include transactions involving a principal residence and 1031 exchanges. Beginning this year, non-exempt sellers can now choose to have escrow withhold a sum of money equal to the maximum California personal [...]

Top 10 Best Performing Housing Markets

San Francisco housing market named one of the top 10 performing city according to a recent study by Forbes.

Here are the top 10 best performing housing markets, according to Forbes magazine, their third quarter median home sale prices and the percentage that prices have risen compared to third quarter 2006.
Salt Lake City; Median Home [...]

Recent News – Home Tax Break Initiative Launched

If you are a qualified California homeowner or renter who wants lower taxes, you should read this post.HomeTaxBreak.org is launching a statewide, grassroots campaign to get an initiative on the Nov 2008 ballot to lower taxes by up to $1000/year for qualified Homeowners and Renters.This initiative is proposing a long overdue increase to the Homeowner’s Exemption [...]