Buyers and Sellers needn’t accept what media is depicting as a scarcity of Jumbo Loans: “Homeowners with higher-price loans don’t qualify for mortgage modifications under the Obama plan. Low interest rates are unavailable if they try to refinance. And finding a buyer who can get financing takes far longer than for lower-price homes, because banks want as much as 30% down and six months of mortgage payments in reserve.” Read our newest blogpost for some possible solutions!
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As mentioned in our previous blog “Short Sales Revisited”, the Obama Administration is planning on implementing strategies to streamline the short sale process which is long overdue and hopefully takes away the stress and frustration that up until now is customary with the short sale process. Can hardly wait ! Even with the experience we have in Short Sales, it is often very time consuming and frustrating. This new plan is a welcomed necessity. Palm Springs California real estate is showing signs of rebounding. The wise buyer knows that the bottom of the market is only confirmed in the rear view mirror after it’s a thing of the past. Rather than speculate as to whether we’ve hit bottom, savvy buyers make offers and negotiate. |
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