San Diego Real Estate and Homes for Sale Blog 

 

Hello, welcome to our blog.  This blog is written by San Diego Realtors® and real estate professionals to keep you up to date on the San Diego Real Estate Market, San Diego Mortgage Market, San Diego Community Events and local San Diego News.

Our goal is to provide some useful information relative to the San Diego Real Estate market.  If you have any information that you would like to share, feel free to contact us!

APEX Realty Team

(858) 997-2700

Info@APEXRealtySD.com

Feb. 3, 2012

San Diego HARP Refinance

New refinance opportunity with HARP program

Many homeowners with "under water mortgages" can still refinance their loan with a lower cost affordable mortgage thanks to the Home Affordable Refinance Program (HARP) - recently revised and extended until December 31, 2013.

Established in 2009 for Fannie Mae and Freddie Mac-owned mortgages, the HARP program provides an option for homeowners to refinance "under water mortgages." The program addresses situations where the homeowner's property value has fallen below the mortgage balance causing the owner to no longer qualify under traditional underwriting criteria.

New HARP guidelines were recently announced by Fannie Mae and Freddie Mac. Both of these GSEs (government sponsored enterprises) have posted details of the program modifications and procedural changes on their respective websites for mortgage servicers to follow.

To see if you qualify for HARP refinance, click here

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Aug. 4, 2011

San Diego Mortgage Loan Limits Update

Bill introduced to extend loan limits one year


On 8/2/11, the U.S. Senate introduced SB 1508, a bill to extend the current loan limits for one year.  Originally sponsored by California Senator Dianne Feinstein, the bipartisan bill would increase the cost of loans for Fannie Mae and Freddie Mac between $625,500 and $729,750, to offset the perceived cost of increasing the loan limits another year.

Without Congressional action, the current loan limits will expire on Sept. 30, 2011; the VA limits will expire December 31st.

Housing markets remain fragile, and this bill will ensure the market is not further disrupted, causing more declines in home values and making it even more difficult for American families to purchase a home.

Please pass this information along.

APEX Realty

(858) 997-2700

Info@APEXRealtySD.com

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July 15, 2011

San Diego Down Payment Assistance - San Diego First Time Home Buyers

Searching homes for sale in San Diego is a challenging process.  Not only do you have to find the perfect home, you have to find the right terms

If you're looking for San Diego down payment assistance, you have come to the right place. As a potential San Diego first time home buyer, you know the challenges to saving sufficient money to make a down payment on a home. For some, it seems impossible to even begin to save enough cash without some form of down payment assistance, much less saving that money in the time necessary to take advantage of today's low mortgage rates.

Many individuals simply have no idea where to turn to get accurate and reliable San Diego down payment help information. We created a link section below to help first time homebuyers purchase their first home.

 

City of Carlsbad – Housing Programs

City of National City - Affordable Housing Programs

 

 

City of Chula Vista – Housing Programs

City of Oceanside - Housing Department

 

 

City of El Cajon – Housing Programs

City of Poway - SHOP

 

 

City of Encinitas - Assistance Program

City of San Marcos – Housing Assistance Programs

 

 

City of La Mesa - First Time Homebuyers

City of Vista – Housing Programs

 

 

California Housing Finance Agency

County of San Diego – Homeowner Programs

 

Please pass this information along.

APEX Realty

(858) 997-2700

Info@APEXRealtySD.com

  

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July 12, 2011

San Diego Mortgage Loan Limits

All San Diego families that are considering buying, or refinancing, a home in San Diego need to be aware of the impact of the decrease in San Diego mortgage limits that go into effect Oct. 1, 2011.

In 2008, Congress temporarily raised the conforming loan limits from $417,000 to $697,500 and has extended them annually through fiscal year 2011. Unless Congress takes action, the current loan limits will expire on Sept. 30 and the cost of a mortgage could rise significantly, especially in high-cost areas such as San Diego. 

On Oct. 1, 2011, San Diego mortgage limits will decrease $151,250 to $546,250.  This will provide higher rates and costs for both a San Diego home purchase and  San Diego refinances.

Non-conforming or jumbo loans typically carry a higher mortgage interest rate than a conforming loan and require a higher down payment, increasing the monthly payment and negatively impacting housing affordability for San Diego home buyers, as well as San Diego refinances.

 

Impact of Lower Loan Limit for GSE-backed Loans 

County

2011 Limit

HERA Limits (GSE)

$ Difference

% GSE Loans
Ineligible

% Calif. Households
Represented

 

 

 

Alameda

$729,750

$625,500

$104,250

6.30%

4.30%

 

 

Contra Costa

$729,750

$625,500

$104,250

11.50%

3.00%

 

 

Los Angeles

$729,750

$625,500

$104,250

2.30%

25.70%

 

 

Marin

$729,750

$625,500

$104,250

12.20%

0.80%

 

 

Merced

$472,500

$417,000

$55,500

0.00%

0.60%

 

 

Monterey

$729,750

$483,000

$246,750

8.80%

1.00%

 

 

Napa

$729,750

$592,250

$137,500

3.80%

0.40%

 

 

Orange

$729,750

$625,500

$104,250

6.20%

7.90%

 

 

Placer

$580,000

$474,950

$105,050

4.40%

1.10%

 

 

Riverside

$500,000

$417,000

$83,000

1.70%

5.50%

 

 

Sacramento

$580,000

$474,950

$105,050

1.10%

4.10%

 

 

San Bernardino

$500,000

$417,000

$83,000

0.70%

4.90%

 

 

San Diego

$697,500

$546,250

$151,250

8.20%

8.60%

 

 

San Francisco

$729,750

$625,500

$104,250

9.90%

2.70%

 

 

San Luis Obispo

$687,500

$561,200

$126,300

6.40%

0.80%

 

 

San Mateo

$729,750

$625,500

$104,250

10.70%

2.00%

 

 

Santa Barbara

$729,750

$625,500

$104,250

5.80%

1.10%

 

 

Santa Clara

$729,750

$625,500

$104,250

7.80%

4.80%

 

 

Santa Cruz

$729,750

$625,500

$104,250

7.10%

0.70%

 

 

Solano

$557,500

$417,000

$140,500

1.60%

1.10%

 

 

Sonoma

$662,500

$520,950

$141,550

7.90%

1.50%

 

 

Ventura

$729,750

$598,000

$131,750

5.80%

2.10%

 

 

Average/Total

 

 

 

5.90%

84.90%

 

 

 

Please pass this information along.

APEX Realty

(858) 997-2700

Info@APEXRealtySD.com

  

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July 11, 2011

4th of July Fireworks in 4S Ranch

The 4S Ranch 2nd Annual 4th of July Fireworks Celebration was held on Monday, July 4th 2011.  The 4S Ranch Master Association hosted the event at Del Norte High School and it was open for all 4S Ranch residents to attend.

The 4th of July fireworks display is one of many annual events the 4s Ranch Master Association provides for it's residents.

If you would like more information about 4S Ranch Homes for Sale or 4S Ranch Real Estate,  please feel free to contact us.

APEX Realty Team

(858) 997-2700

Info@APEXRealtySD.com

 

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