Virginia R Hoato's Blog – Topics That Matter: Real Estate news as well as information pertinent to your everyday life.

Hello,

Here is a great article about new home sales dropping to their lowest level since the government began tracking the numbers in 1963.  It was written by SARA MURRAY with the Wall Street Journal:

Sales of new single-family homes plunged last month, underscoring the fragility in the housing market.

Sales dropped 11.2% in January from a month earlier to a seasonally adjusted annual rate of 309,000, the Commerce Department said Wednesday. The decline brought sales to their lowest level since the government began tracking the numbers in 1963. Sales were 6.1% lower than in January 2009.

This gauge of new-home sales is particularly volatile because it is based on a very small sample size and carries a wide margin of error. Still, the sharp decline is an indication that the housing market remains feeble, despite improvements in the past year fueled by low mortgage rates, reduced home prices and a government tax credit for home buyers. Read the rest of this entry »

Hello

This one is short and sweet.  I hope you are all enjoying this great weather.  In an effort to make things easier for readers I decided to have a page that will allow you view homes in the area of your interest.  Since I am mainly focusing on Livermore, Mountain House, Tracy and Lathrop I added to the navigation 4 tabs. Of course you can also search for any area as well.

Well, that’s it for now!

Remember to come back tomorrow for more!

And if you are planning to buy a house or sell your house call me!!  I am only a phone call away!

Have a good night!!!

Your #1 Realtor®

Sharing updates to my blog with you!

Virginia R. Hoato
Realty World – Blue Property Group, Inc
DRE LIC# 01781539
Direct:  510-305-3254
Fax:  209-234-2750

Email:  virginiarh at rightchoicehomes4u.com
TAMBIEN HABLO ESPAÑOL
Web Links: http://www.rwblue-virginiahoato.com
 http://www.virginiahoato.topseller.net

Skype Member: virginiarh1961

“FOR RESULTS OF EXCELLENCE: EXPERTISE AND INTEGRITY MUST EMBRACE YOUR NEEDS”.
(VRH 8-13-08)

Share the memorable experience of buying a home with others. Your personal referrals are my greatest compliment.

OK everybody!  It is about to get tougher than tough.  If you are a first time buyer and you have any doubts at all about buying a house and (even though you are ready, willing and able) you still have this little voice in the back of your mind holding you from going out to view homes; guess what?   The new guidelines for FHA will take effect early summer.  FHA will tighten its standards making it harder for certain buyers to purchase a home.  With that being said a higher down payment will be required.  Yes, higher than the 3.5% for certain borrowers. There will also be higher insurance premiums and less seller concessions.

Here they are, take a look:

New Guidelines

The new rules — which are temporary and take effect this summer — come after more than a year of stringent standards from lenders. Among them:
•    Better Credit Score — New borrowers will have to have a minimum credit score of 580 to qualify for a 3.5 percent down payment. Previously, there was no minimum score. Those with lower scores will have to make at least a 10 percent down payment. The average credit score of FHA-insured borrowers is 693.
•    Higher Insurance Premiums — Buyers who get an FHA-insured loan will soon have to pay a higher initial insurance premium. The new premium will be 2.25 percent of the value of total loan amount, up from 1.75 percent now. A $100,000 mortgage would require a payment of $2,250, or $500 more. But buyers can roll the added cost into the loan amount.
•    Reduction in Seller Concessions — Starting this summer, sellers will not be able to offer as much help to buyers to pay their closing costs. The maximum amount of assistance will drop to 3 percent of the value of the property, from the current 6 percent.  (Source for Guidelines:  RealtyTrac)

So, now that you know all this, don’t you think it’s time to start?   Don’t wait until it is too late!!!  This might be your chance to become a homeowner!!!!!

The new lending standards will make it tougher for some prospective buyers to purchase a home by requiring a higher down payment than the typical 3.5 percent for some borrowers, higher insurance premiums and reduced seller concessions.

Well, that’s it for now

Remember to come back tomorrow for more!

And if you are planning to buy a house or sell your house call me!!  I am only a phone call away!

Have a good night!!!

Your #1 Realtor®

Sharing an FHA update with you!

Virginia R. Hoato
Realty World – Blue Property Group, Inc
DRE LIC# 01781539
Direct:  510-305-3254
Fax:  209-234-2750

Email:  virginiarh at rightchoicehomes4u.com
TAMBIEN HABLO ESPAÑOL
Web Links: http://www.rwblue-virginiahoato.com
 http://www.virginiahoato.topseller.net

Skype Member: virginiarh1961

“FOR RESULTS OF EXCELLENCE: EXPERTISE AND INTEGRITY MUST EMBRACE YOUR NEEDS”.
(VRH 8-13-08)

Share the memorable experience of buying a home with others. Your personal referrals are my greatest compliment.

Hello,

Has anybody noticed how in new home communities at night there is a parade of houses that has all of their front lights turned on?    Here is a tip for new homeowners:

Never leave the front door lights on during the night.  If you feel a sense of security having them on then install motion lights instead this way they will go on when there is motion.

Getting used to this tip will save you money more so  if you live in Califronia.  I am sure those people will be very surprised when they see their first electricity bill.

Well, that’s it for now.

Remember to come back tomorrow for more!

And if you are planning to buy a house or sell your house call me!!  I am only a phone call away!

Have a good night!!!

Your #1 Realtor®

Sharing a great experience with you!

Virginia R. Hoato
Realty World – Blue Property Group, Inc
DRE LIC# 01781539
Direct:  510-305-3254
Fax:  209-234-2750

Email:  virginiarh at rightchoicehomes4u.com
TAMBIEN HABLO ESPAÑOL
Web Links: http://www.rwblue-virginiahoato.com
 http://www.virginiahoato.topseller.net

Skype Member: virginiarh1961

“FOR RESULTS OF EXCELLENCE: EXPERTISE AND INTEGRITY MUST EMBRACE YOUR NEEDS”.
(VRH 8-13-08)

Share the memorable experience of buying a home with others. Your personal referrals are my greatest compliment.

Hello,

I just read this article in Yahoo about the 10 things a new home MUST have.

I agree with most of the items but I am not sure about the soaker tub and the two car garage.  Having a tub is good for reselling purposes but more and more I hear people say the tub is hardly used.  A two car garage should be a standard item the construction of a new home.  How many times have you driven around a considerably new community  that has plenty of streets with driveways and curves full of cars.  Also having a 3rd car garage can help with storage.  Here is the artciicle:

The 10 Must-Have Features in Today’s New Homes

by Steve Kerch

The kitchen is still king.

LAS VEGAS — Americans want smaller houses and they are willing to strip some of yesterday’s most popular rooms — such as home theaters — from them in order to accommodate changing lifestyles, consumer experts told audiences at the International Builders Show here this week.
“This is a traumatic time in this country and the future isn’t something we’re 100% sure about now either. What’s left? The answer for most home buyers is authenticity,” said Heather McCune, director of marketing for Bassenian Lagoni Architects in Park Ridge, Ill.
Buyers today want cost-effective architecture, plans that focus on spaces and not rooms and homes that are designed ‘green’ from the outset,” she said. The key for home builders is “finding the balance between what buyers want and the price point.”
For many buyers, their next house will be smaller than their current one, said Carol Lavender, president of the Lavender Design Group in San Antonio, Texas. Large kitchens that are open to the main family living area, old-fashioned bathrooms with clawfoot tubs and small spaces such as wine grottos are design features that will resonate today, she said.
“What we’re hearing is ‘harvest’ as a home theme — the feeling of Thanksgiving. It’s all about family togetherness — casual living, entertaining and flexible spaces,” Lavender said.
Paul Cardis, CEO of AVID Ratings Co., which conducts an annual survey of home-buyer preferences, said there are 10 “must” features in new homes. Read the rest of this entry »