My New Blog

The short answer is "probably not" in this market.  Due to the credit crisis we are currently experiencing, in which lenders were too free with their money during the recent real estate boom, lenders have now swung back the conservative side and mostly are looking for very solid loans, with good credit, 10% to 20% down, and full documentation on your income.

There are a very few 95% loans out there, but very hard to get.   If you need a repututable lender or mortgage broker, talk to your agent.  I always make sure that I have 2 or 3 strong lenders that I can provide to my clients so they don't get burned by someone who promises things that they can't deliver.

Why not let the buyer do all the home inspections for themselves?

I always advise my sellers that it is wise to pay for a pest inspection when they list their home, because then you know prior to getting into contract what issues - if any - you may have that would affect negotiation.  It makes for a smoother sale and fewer surprises.   It is not manditory, and some sellers decline, but it is a good idea and allows you to find and repair items you might not otherwise be aware of.  That report becomes part of your seller disclosures and if you decide not to fix problems that you find, you can prepare for a buyer credit or attempt an "as is" sale.

Today the FHA released their new conforming loan limits by area, nationwide.  For Marin County, the new limit will be $729,750, for Sonoma county it will be $662,500, Napa County $729,750 and Solano County $557,500.

HUD Link to New Conforming Loan Limits - Marin

HUD Link to New Conforming Loan Limits - Sonoma Cty

HUD Link to New Conforming Loan Limits - Napa Cty

HUD Link to New Conforming Loan Limits - Solano Cty

HUD Link for Any County in US - New FHA Conforming Loan Limits

Call me for more information on how this might affect you.

Many of my clients are asking when we will see the benefit in new conforming loan levels from the recent Economic Stimulous Package.

HUD and Fannie Mae and Freddie Mac are currently evaluating the new lending limits and it will probably be six weeks or more before we see the impact on new lending packages for higher conforming loans.  

If you have questions, I am getting regular updates from my lenders and would be happy to share the scoop on what we think will happen.  Call or email me for more info.  

Some real estate agents will tell you when you look at their listing "if you write up the offer through me, I'll get you the best deal."   Is this OK?  Technically, it is legal, and certainly the agent will make more money.   But it is not necessarily the case that you as the client will benefit.   I reject dual agency even when I am the listing agent and could do both sides of the transaction.   Why?  Because you need an advocate who does not have conflicting interests.  That is how your needs will be most vigorously represented.

I have fiduciary duties to represent YOUR needs, and if I do so correctly your needs are met and my business prospers.

This is why I do not practice Dual Agency in which a REALTOR represents both sides of the transaction. It is legal to do so, and some agents attempt to do so as often as possible to make as much money as possible. I believe that Dual Agency is fraught with potential problems. When I sit down at the negotiating table on your behalf, I do not want to change hats and go to the other side of the table as well. It is a bit like having an attorney representing both sides of an argument.   If you are the seller, I need to keep your confidences and get you the highest price for the property.  If you are the buyer, I need to keep your confidences and get you the lowest price for the property.  Begin to see the problem?

Dual Agency is a frequent cause of lawsuits in California.   I do not recommend it.