Redding Real Estate

Racial Discrimination Is Alive and Well

November 6th, 2009

By Brad Garbutt

Beverly Hills Properties was just hit with a $2.725 million dollar fine from the U.S. Department of Justice for housing discrimination. According to an article from the California Association of Realtors, a lawsuit brought in August of 2006 claimed Donald T. Sterling and others engaged in discrimantory practices including refusing to rent to African-Americans, Hispanics, [...]

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President to Sign Today

November 6th, 2009

By Bob Sparks

President Obama is scheduled to sign homebuyer tax credit bill at a White House signing ceremony later today. The bill received overwhelming bipartisan endorsement in Congress and expands tax credit to include move-up homebuyers. If you want to take advantage of this tax credit on the purchase of your next home you will need to have your own [...]

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No Time to Lose

November 5th, 2009

By Bob Sparks

The House voted 403-12 today to extend and expand the tax credit to include many buyers who already own homes. The Senate passed this by a 98-0 vote yesterday and President Obama is expected to sign asap.

$8,000 for first-time homebuyers
$6,500 for move-up homebuyers
Must be in contract by April 30, 2010 and close escrow by June, [...]

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Tax Credits: Not just for the freshmen anymore!

November 5th, 2009

By

An amendment to the bill extending the FTHB credit would expand it to allow longtime residents of the same principal residence to claim a tax credit of up to $6,500. Homebuyers must have owned and used their residence for any five-consecutive-year period during the past eight years to claim the exception.

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Buy A Home With Nearly Nothing Down, Again!

November 5th, 2009

By Brad Garbutt

Lenders are always searching for ways to help buyers leverage their good credit to buy homes. Wayne Barni, local loan broker with ChoiceOne, reviewed a loan program dubbed CHF Access. This program uses an FHA first mortgage which requires a 3.5% downpayment and a 3% second mortgage that can be used toward the downpayment or closing [...]

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By 98-0 Senate OK’s Homebuyer Tax Credit

November 4th, 2009

By Bob Sparks

The Senate voted to extend and expand first-time homebuyer tax credit to include move-up buyers. House expected to pass any day. Will include $8,000 for first-time buyers, $6,500 for move-up buyers.
Source: Buyers Guide to Shasta County Real Estate

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B of A focusing on Short Sales

November 4th, 2009

By Bob Sparks

In an effort to deal with distressed properties prior to foreclosure Bank of America is adopting Equator, a short sale module that will enable borrowers and short sale agents to submit documents and check status online 24/7.
The Equator Platform, formerly REO Trans, is a web based electronic system designed to automate the short sale process [...]

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No Down Payment Saved? Buy with CHF Access

November 3rd, 2009

By Bob Sparks

With CHF Access financing Homeownership may be just around the corner. The CHF Access program provides 99.5% fixed rate financing by blending a 96.5% FHA first mortgage with a 3% CHF Access second. This program is limited to a primary residence but is not limited to only first time buyers. Program [...]

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