Really Simple Syndication
Downtown San Diego Buildings
Categories
- Bayside
- Blogging
- BOSA Development
- Buying
- Denny Oh
- Downtown San Diego Penthouses
- Events
- Featured Listings
- Geek Estate
- Hard Rock Hotel
- Miscellaneous
- Real Estate Finance
- Real Estate News
- Real Estate Tips
- San Diego Real Estate Deals
- San Diego Rentals
- San Diego Sales Statistics
- The Grande
Real Estate Blogs
Resources
Archives
560 First Ave,
San Diego, CA 92101
858-243-2092 Cell
619-481-5040 Fax
What Would My Monthly Payments Be…?
August 9th, 2011 Categories: Real Estate Finance
A friend of mine recently asked me, “How much would my payments would be if I bought a $700,000 home?” I figured this is probably a fairly common question, so I thought I’d share. Based on a $700K purchase price, with 20% down ($140K), your mortgage payment would be about $3,733/mo. Now that’s based on a 30 yr fixed loan, at an interest rate of 4.625%.
That payment includes your principal and interest(P&I) payment of about $2878/mo. It also includes your property tax payment, of about $729/mo(based on 1.25% of the purchase price). It also includes an estimated home insurance payment of $125/mo.
Are Jumbo Loan Limits Changing?
June 1st, 2011 Categories: Real Estate Finance
If you’re thinking about buying a home, you should probably start looking right now! Right now in San Diego, there are three types of loans(in regards to loan amounts):
- Conforming Loan – this is any loan amount that is $417,000 or less. Depending on your credit, income, etc., you’re probably looking at an interest rate of 4.75% for a 30 year fixed loan
- Jumbo Conforming Loan, or High-Cost Area Conforming – this is any loan amount between $418,000-697,500. For loans in this range, you’re probably looking at an interest rate of about 4.875%
- Jumbo Loan – this is any loan over $697,500. Jumbo loans are typically the hardest to qualify for and they have the highest interest rates, currently sitting around 5.25%.
Three More Months – HR 4213
June 17th, 2010 Categories: Real Estate Finance, Real Estate News
Senate just passed a bill that extends the First Time Home Buyer, Federal Tax Credit. Previously, home buyers who qualified could get an $8000 tax credit if they were in escrow by April 30th of 2010 and closed by June 30th of 2010. Thanks to amendment HR 4213, the American Jobs and Closing Tax Loopholes Act of 2010, now you can close escrow as late as September 30th of this year and still qualify for the credit – but you still would have had to have been under contract by April 30th. This is NOT for the $10K California home buyer tax credit. Good luck!
California First Time/New Home Buyer Tax Credit…Beware
June 7th, 2010 Categories: Real Estate Finance
If you’re in the market to buy your first home, or if you qualify as a “first time home buyer,” or if you’re buying a “new” home…READ THIS! If you’re doing one of the above, chances are you’re well aware of the $10,000 California State tax credit – the one that gives you $10K over three years. However, what you may not know, is that there’s some fine print – you must FILE FOR THE CREDIT IN 14 DAYS upon closing escrow.
Is Short Sale Debt Taxable?
April 15th, 2010 Categories: Real Estate Finance, Real Estate News
If you’re like one of the millions of people(actually, I’m not sure how many people are actually doing this) who are trying to short sale their home, I’m sure you’ve been worrying about the taxes that you’ll eventually have to pay. Well, it looks like you may have dodged the bullet! According to a recently passed California bill, Senate Bill 401, for those who qualify, forgiven short sale debt will not be taxable.
No More FHA Loans…Almost
August 4th, 2009 Categories: Real Estate Finance
If you’re thinking about buying a home, I’m sure you’ve heard about FHA loans. I won’t go into much detail, but basically what an FHA loan allows a buyer to do, is purchase a home with only 3.5% down. The home has to qualify and fit certain criteria, but it can be a great way to buy something.
How to Apply for the California New Construction Tax Credit
June 18th, 2009 Categories: Real Estate Finance, Real Estate News
If you’re thinking about buying a new home, you may want to hurry up! California is giving a $10,000 tax credit to those who purchase a newly constructed home that has never been lived in, between March 1st 2009 and March 1st of 2010. There are no restrictions on how much money you make, but you do have to live in the home upon closing escrow for a minimum of two years.
Vantage Pointe- Downtown San Diego
May 18th, 2009 Categories: Real Estate Finance, Real Estate News
The 679 unit condo complex located at 1281 Ninth Ave, is going through some difficult times, to say the least. According to the Daily Transcript, the Canadian developer, Pointe of View, had to give back the first 71 buyers of Vantage Pointe their deposits. The building failed to get their certificate of occupancy last week, due to financing issues. Fannie Mae now requires new developments to have at least 70% of new construction buildings to be sold before theyll lend on it, opposed to the old 51% requirement.
Obama’s New $787 Billion Stimulus Package
March 24th, 2009 Categories: Real Estate Finance, Real Estate News
I recently received an email from Prudential California Realty that provided an overview of how President Obamas $787 BILLION Stimulus Package(not former President Bushs Stimulus Package) would affect California. Below is an exact copy of the newsletter “ I have not altered the content in any way, except for formatting.
New Construction Tax Rebate – For California
March 6th, 2009 Categories: Real Estate Finance, Real Estate News
In case you haven’t heard, California is offering a $10,000 tax credit to anyone who buys a home that’s never been lived in before – new construction. You must buy your home on, or after March 1st, 2009 and before March 1st, 2010. The home buyer must also live in the home for at least 2 years, beginning immediately after closing on it.
To qualify for this tax credit, you just have to buy a new home in the specified time frame. There’s no income limit, nor do you have to be a first time home buyer. The home does however, have to be your primary residence. Additionally, it cannot be a duplex, or any other non-single family home. The
