Tuesday, November 29, 2011

Congress Restores FHA Loan Limits to NAR-Backed Levels

Last Friday, congress finally passed the new FHA loan limit bill! We are so excited as real estate agents for our industry and our clients looking to buy and of course sell their home. In Carlsbad, most properties are over $625,000 for a detached single family residence and that limit would have cause problems for seller to have their home sold. Now we have it back up and this is what the North San Diego County and Orange County needed! 

Here are the details...

Congress Restores FHA Loan Limits to NAR-Backed Levels

On November 18, 2011, in Breaking NewsMortgage FinancingPolitics & Government, by Robert Freedman

The U.S. House and Senate yesterday restored FHA loan limits to the level they were at before they were allowed to expire at the end of September. As a result, the limits will rise to 125 percent of the area median home price from 115 Percent, up to a maximum $729,750, from $625,500. NAR estimates that several hundred counties where FHA loan limits fell at the end of September will now rise back up to the previous level.
“The reinstated loan limits will help provide much needed liquidity and stability to communities nationwide as tight credit restrictions continue to prevent some qualified buyers from becoming home owners and the housing market recovery remains fragile,” said NAR President Moe Veissi in a statement released last night.
President Obama is expected to sign the legislation shortly. The restored loan limits are in a broad-based bill that includes funding for a wide variety of federal operations and programs.
The maximum conforming loan limits for secondary mortgage market companies Fannie Mae and Freddie Mac also expired at the end of September, but lawmakers did not include a restoration of those limits in the bill. As a result, conforming loan limits will remain at 115 percent of the area median home price, up to $625,500.
Once President Obama signs the bill, the limits will go into effect. FHA will release a mortgagee letter to its approved lenders shortly. The mortgagee letter will contain a list that’s been updated to reflect the new limits. NAR analysts say it will take the agency a short period to update its database and release the mortgagee letter, maybe a couple of weeks.
The funding bill also extends the National Flood Insurance Program (NFIP) until December 16 to allow lawmakers time to consider long-term authorization of that program, which is an NAR priority.

Saturday, November 26, 2011

115 Avenida Carmelo, San Clemente, CA 92672

115 Avenida Carmelo, San Clemente, CA 92672 - OPEN HOUSE Sat 11.26 11AM-3PM

OPEN HOUSE TODAY till 3PM, hip beach cottage in San Clemente, 92672 by Trestles! On sale to be gone!
Real estate deal!

115 Avenida Carmelo, San Clemente, CA 92672 - OPEN HOUSE Sat 11.26 11AM-3PM

OPEN HOUSE TODAY till 3PM, hip beach cottage in San Clemente, 92672 by Trestles! On sale to be gone!
Real estate deal!

Friday, November 25, 2011

Saturday Open house in San Clemente by the beach


OPEN HOUSE Saturday, Nov 26th 11AM to 3PM!

Contact Information

Angelique Kenney
Prudential California Realty
Mobile: 760.282.HOME

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Price  :  $694,900
Address  :  115 Avenida Carmelo
City  :  San Clemente
Zip Code  :  92672
Community  :  Tresltes
County  :  OR
Bedrooms  :  3
Bathrooms  :  2
Square Foot  :  1,400
Lot Size  :  4,791
Year Built  :  1956
MLS Number  :  S673927

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  • Description
    Honey,stop the car! Cream puff environmentally friendly beach bungalow freshly remodeled to perfection with green features in mind in the heart of San Clemente s best:Trestles!close to the world renown beach surf spot Trestles, golf course & hiking trails.3 bed & 2 full baths w/private backyard & 2 dog runs or a large private back garden.Enjoy ocean breeze, peek-a-boo view of the ocean or be creative, ask your contractor about a viewing deck. 1yr home warranty included - No Mello Roos or HOA - Tiger strand bamboo flooring thru out, fireplace, formal dinning room, save money on monthly utility costs with double pane windows, granite island and countertops, designer paint,large master closet, too many updates to list. Ideal property all year long or as a vacation getaway located in San Clemente, home of the Hurley Pro and where you can enjoy a healthier lifestyle away from the busy concrete jungle & historically low rate makes this hip cottage a must see and a turn key! Home Warranty

    Additional Features

  • 3 bedroom beach home

  • Pick a boo view

  • Testles beach

  • Ocean breeze home

  • San clemente home

  • Near golf course

  • Near hiking trails

  • Single level

  • Bamboo flooring

  • NO HOA,NO Mello roos

  • 92672

  • Ranch style

  • Retro chic

  • Home warranty incl.

  • Surf lifestyle

  • Low maintenance home

  • Green features

  • Turn key property

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