Long Beach Real Estate News

New FHA Loan Limits

Los Angeles County and Orange County FHA loan limits are rising January 1, 2009.  What does that mean to todays home buyers?  This means that Fannie Mae and Freddie Mac loans remain high through the end of 2008, buyers can qualify for higher loans on homes closing prior to the end of this year.  Once the New Year rolls around buyers will have less buying power due to the lower loan limits.  This is true for all residential loans, including; homes, condos and residential investment property under 4 units. 

Whats the big deal?  Lower maximums loan amounts means decreased buying power. 

Today is November 16, 2008.  It is still possible to find and close on a home or condo before the new lower loan limits take effect.  If you have been thinking about buying, were contemplating putting that purchase off until after the New Year and are in the price range that would be affected by the new lower FHA loan limits, you might want to consider getting out there right now while you can still take advantage of the higher FHA loan limits.  Remember, your escrow must close prior to 12/31/2008. 

Federal Housing Authority Home

Real estate is always a good purchase, now really is a very good time to consider purchasing a Long Beach Home, Condo or Income Property.  If you have been sitting on the fence call us today to discuss your needs and wants.  We are always here for you.  Call Laurie (562) 212-5420

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Redesign or Home Stage Your Long Beach Homes

In today's buyers market, now, more than ever, Home Staging or Redesign is an absolute must! This includes homeowners who are still in their Long Beach homes as well as vacant homes.  The Long Beach real estate market includes a multitude of homes that have not been cared for. Some homes have been served a Notice of Default or have gone through the foreclosure process. The information and photos of these homes are often misleading to buyers since it's based on what the home looked like months ago.  If you need to sell your home in this market a home stager can help you sell your Long Beach home!

De-cluttering, cleaning and furnishings are basically what home staging and redesign are all about. Some Long Beach homes are so cluttered with stuff, that it's time to learn about getting organized.  Contact NAPO for a professional organizer in your area, or get a book on organizing, home staging, painting, or design; there are many to choose from.

You can start with your curb appeal; making sure your lawn, shrubs and flowers are all neatly trimmed.  Paint your front door and create an inviting entrance.  Counters inside should be cleaned off, remove furniture that is not necessary, use your dining table without the leaf and only 4 chairs, organize closets and add plants and flowers.  Create a focal point in each room, and de-clutter.  I can't say it enough; clutter is the biggest challenge for a redesign expert. 

If you don't have the time, energy, or desire home stage or redesign yourself, call a home stager.  Some home stagers will redesign, others will not.  Our redesign report lists suggestions of what to take down, remove or pack away, furniture layout, tips on hanging pictures, the importance of light, how color in your rooms affect your mood and many more ideas. After you review the detailed report contact your Long Beach home stager to set up another day to complete the redesign.

The cost of hiring a company to stage your home ranges from $1,800 to $3,800 but can also go much higher.  Check with your Long Beach Home Stager for pricing. The price, size and location play a big part in the cost.

Diane Concialdi

DC Redesign  

714.815.3506

Read also: 

• Redesign Home Staging for Your Long Beach Homes
• Long Beach Home Staging-Define Your Long Beach Homes with Color
• Staging Your Long Beach Homes
• Stage YOUR Long Beach Home to Sell
• Selling YOUR Long Beach Home - It' Tough Out There - Are YOU ready for this real estate market?
• Selling YOUR Downtown Long Beach Condos-State of the Market
• Remodeling Your Long Beach Home?
• Curb Appeal On A Budget
• Summer in Long Beach California - Reduce Your Energy Costs and Stay Cool
• Self-Healing Homes
• Why Stage Your Long Beach Home or Condo?
• Long Beach Backyards-Ponds and Nasty Swimming Pools
• Long Beach Home Kitchen Remodels
• Long Beach Home Bathroom Remodels

Long Beach Home Loans - Understanding Your Credit Scores

Understanding how your credit score will affect the purchase of Long Beach homes.

We all know that a good credit score is not only helpful, but today it is necessary to get a mortgage to purchase Long Beach homes, or even buy a car.  Your credit score will also determine the interest rate you have to pay. 

Factors that go into figuring a credit score?

• Have you Established Credit?  Paying cash is often construed to be the act of a responsible consumer, by doing so you establish no history for a mortgage lender to examine.  One way to establish credit is to get credit cards and use them - you can, and should, pay them off every month and on time.  A credit score considers the number of creditors as well as payment history.  

Read Also:  How to establish credit

• Prompt Payment of Financial Obligations.  This is very important, but you should know that this accounts for only about a third of the total score.

• Amount of Available Credit.  Your credit score might be impacted by the number of credit cards you have, even if you never use them.  They indicate the amount of credit you have access to, thus opening up the chance of financial strain.

• Your Debt Ratio.  Lenders will consider your debt ratio when you apply for a Long Beach mortgage.  In spite of an excellent credit rating they will use this debt ratio to see if you can take on additional debt for a mortgage on your Long Beach home.

• Consolidation of Debt.  Although, this might make it easier to pay off debt and thus increase your credit score, the process of consolidation will have no effect on your credit score.
  

What do the Credit Score numbers mean?

Your FICO score is comprised of a compilation of your credit history from the three major credit reporting bureaus, Equifax, Transunion, and Experian. Basically your credit score is determined by a formula that is calculated that is proprietary information and owned by Fair Isaac.   Your credit score number will be between 300-900, and the higher the number the better off you are.  

Are you ready to start the process of applying for a Long Beach Mortgage now?   Before you approach a lending institution for a Long Beach home mortgage, know where you stand with your credit score.   Not sure where you stand, a good Mortgage professional will assist you with obtaining a copy of your report.  After obtaining a copy of it, they will review it with you and assist you to resolve any issues that are affecting your credit score negatively.

Guest author:  Colleen Kulikowski, Buffalo NY Realtor

FREEDOM FOR ALL

If freedom is denied to some then none of us are free!

Over 3,000 people gathered at the intersection of Redondo and Broadway in Long Beach California last night to protest the passing of Proposition 8 in our recent election.  They marched into Alamitos Beach and Downtown Long Beach where they heard speeches by local officials and were then disbursed by the local authorities.  Many were members of our large gay community, many were straight people who understand the value of freedom. 

Our ancestors came to the country for many reasons; to be free of fascist governments, socialism, tyranny, to worship within their religious beliefs without fear and to live in the state of freedom.  They came here to create a New World, to re-craft centuries of what was just plain wrong and to create a country where the people could live without fear and be free. 

While one group may not think that what another group is doing is right, or approve of the way they live their lives, everybody needs to understand the the loss of, or the repression of, freedom is not in the spirit of the foundation that our great country was built on.  When freedom is denied or removed from one group it leaves the chanel open to remove other liberties 

To those of you who voted yes on Proposition 8 I have a couple of questions for you to ask yourself.

What are you going to do when a freedom that you hold precious is either removed or denied? 

Does it only become a big deal when it affects you?

One of the commentors on the LB Post article today commented that "there are over 1,100 rights bestowed upon married couples that we as gay couples do not share";  why limit this to just gay marriage?  Single and divorced people do not share in those benefits either; more people are choosing to remain single every day.  Everybody should share the same benefits. 

This is not going to be over until we as Americans share in the same benefits as each other.  That is true equality; until we reach that none of us are experiencing freedom. 

Turn Back Your Clocks: November 2, 2008

Don't forget to turn back your clocks one hour at 2:00 AM Sunday November 2, 2008

You don't want to show up in the right place at the wrong time, do you?

When it's time to purchase your next Long Beach Home or Condo, call Laurie (562) 212-5420