Freddie Mac and Fannie Mae raise loan limit to 625K good?? OH YES!!!!

Hermosa Beach has a few condos that came up on the market but the limit of 417 will never get you into the beach.

As for status and cool if you are young the option to go to Gardena over the beach affects your dating scene BIG TIME.

Actually to move into the south bay area at all in any of the beach cities you need that extra 200K

Its also going to help Realtors sell properties near where we live an work. Many of us have had to leave our area and work in other places. We have to learn new markets and that is pretty cool.

Seriously it really is all about the money. If you can’t borrow it you just don’t get to move in and keep staying home with your parents.

Statistics aren’t out there but I am sure I know that every family has some member still there that just doesn’t have the funds to get out of the house. After all mom and pop bought it for what their car cost this year.

The lender gap

Our lender said this week was like the movie Wall Street. For the first time in the history of this lender it was like a free for all similar to a stock floor trading scene. There were such massive calls and emails that it glutted the system and they had to resort to faxing in rate locks. Furthermore….no 5 day grace period of having all your papers complete in the file. The file had to be complete to lock it in. Then they discovered the sad facts the five faxed in locks were only locked in3 of them. The other two were shut outside, no explanation, no I’m sorry, its just over to try another day.

She also explained the issue with the appraisers. If they check the box decreasing market or soft market then the review is nearly guaranteed and they will only loan against 95 and in the near future…maybe tomorrow 90% of the appraised value.

You see how that affects sellers agents who want the loan contingency removal? Some agents are just having to live with waiting till the loan funds to get that removal. This is a tough time.

Silly old bears…..didn’t everyone think Yippee!!! They cut the rates 3/4 %!!  That is the other shoe hitting the floor. It is a short lived euphoria.That news is really for the credit cards, Heloc’s and the like.  The real lowering of the rates will come when stocks are down. Thats when the giants with money will quickly and massivly move the money around. Speed is king, Cash is king and Fico is King.

One other noteworthy NOTE…no pun intended…is that California is still out in the cold with the FEDS 417K deal. California doesn’t even have doghouses at the beach for 417K.

South Bay area sold 3000 properties last year. South Bay in LA includes El Segundo, Manhattan Beach, Hermosa Beach, Redondo Beach and Torrance  for this statistic.

So whats UP! We’re all waiting for the Super Bowl to be over and sell some REAL ESTATE! A lot of us are happy our husbands have jobs.

links

Mary’s blog has a street
Carol has a blog with numbers
John blogs with words
Kathleen blogs with her name

Kim lives and blogs in carmel

Lynne blogs as a pope

Funny thing that happened at an open house

two realtors were touring a brokers open yesterday. The agents did not mention the owner was hom or even where he was. I was one of the two. We walked through ooh and aah over ever wonderful thing. We made a turn into a small hall and then saw a glass section on the floo. We howled with laughter on all the things the viewing section could be for. A fish pond gone wrong- a stupid idea someone will have to fix and that the owner/builder blew it and into the next room where..of course he sat.

Real Estate Republican or Democrat

There is an intersection for you. Politics and real estate. If it is anyones guess, that is the truth, its a guess. The question is this. Our leadership has produced several leaders in the democratic party that the average USA voter may not be ready for. Isn’t that always the case, the leaders lead and eventually the followers follow. The fact is right before our noses. Is the group that voted red across the USA and won in spite of losing- is that group of 49% ready for either of the Democratic leaders. I can hear the old south saying whatever they want to even today and you have to see Borat again to refresh your memory and imagine GENDER or RACE running  for the President? What do you think? I even remember when it was questionable to be….Catholic!

The other shoe to drop is that as the Democrats fight out the battle all the Republicans have to do is wait…wait out the smearing bloodbath. They don’t have to take anyone out, the other party does it over and over proving the incompetance of the teams leaders.  Team is a big word can you imagine what would happen to the lakers if they lost their leader and the players got to fight it out. Oops sorry that already happened.  And no matter what party you are talking about- everyones theme is “Change”  with the present economy call it ” Small Change” and call it too little and too late. But the Lakers are coming back just never quite the same. As for Real Estate, I’d love to see the next President “qualify” for the white house and pay the mortgage (shop for a good loan) and live a little in the real world. The Real Estate World. I have real compassion for the people who were tricked into the subprime bad loans, it is criminal and that is why they are cutting a little slack on the Federal Loan punisnment. Hooray!  I hope the women win, I am tired of being treated subprime in Politics and Religion. Come on guys…..didn’t you all have a mother!

How the errant golf ball came into existence?

How the errant golf ball came into existence? It’s Really Rocket Science on earth 

Rick Robitaille is my brother in law. I am wildly impressed that he is a Rocket Science Engineer. It has allowed many humorous moments with our family. My husband Bob is the twin brother of Pati his wife. So, ok get to the point. But he is a Rocket Scientist!! He is already proven to be smart. So even Rocket Scientists can have some trouble maneuvering through the California State Stack of Real Estate disclosures. Down here on earth we have a lot of stuff to cover that could be dangerous to your life health and well being,

So along comes the lawyer to speak to our office. Every item in this form came about due to a lawsuit. Of course, and they put it in such nice order too.

The likelihood of a golf ball coming into your private domain and the clear space above and below it that you own is rare if you are nowhere near any public or private Golf course.  Still there are those who chip away on their own property. There is the lightning, earthquake fire and flood bunch of hazzards-act of God ( really?) and then there is the public stuff – in Texas shooting rounds of ammo off into the air on the 4^th of July.

So when the golf ball flew into the living room window and broke the prized vase of Pati’s Aunt Nita there was a huge outcry of injustice. The rocket science professional was able to project the arc and landing with precise detail and low and behold…it was from the Catholic Church back area and the priests were just having some fun! Even when you do not expect a golf ball it can become errant!

Or maybe its just Science Fiction!

wordpress makes me happy

the trickle of water from the computer world is turning into a  river..I just joined it.

water and happiness may not link for all but joining with others really makes me happy.

its a handshake across the universe Thank you and  good day Redondo Beach is just an ocean away from Japan and a nanosecond from you.

worlds of words could be a “secret”

Did you ever notice the word world is just word with an “L” . Think about that.

L’s =Live, life, love, learn, listen, and please add on ……

The secret has touched so many people. some seriously and some not so…I think the word gets people’s attention.  

 Blog is a log house with a B 

So make a home on the internet for your words….in a BLOG

Predictions for 2008

Health Care fraud discovered with Blue Cross- it’s just the tip of the iceberg

Mortgage Companies join with Banks to survive the table is turned in sourcing

Environment awakenings- the gravity furnace returns to merge with solar

Chocolate Wars- everybody gets it from amino acids to antioxidants

Beer is off the list as able bodies see the damage to lean muscle development

Film Companies find a home and emerge in Colleges –  my space grows up

Weather breakthrough- seeding stops storms with ionic reversal polarity

Bush gets huge locust attack at the Ranch and has to go back to Washington. What does it mean? Biblically?

Dog hotels surge as pet friendly hotels get it - “High end and a romp area has new meaning”- dog walkers and sitters for times guest is out without Spot. Room service for cleanups.

Brittany Spears gets it together at Betty Ford

The War, Housing, and economy stay the same

2008 you have to make it- create it for yourself – there is no other wave…. give it your BEST! The world is what we make it!!! IN our thinking every day…we will Choose to think  UP!