Fannie Mae & Freddie Mac Look Up for Simi Valley Home Owners

April 28, 2009 By Ted Mackel Leave a Comment

Fannie Mae & Freddie Mac Look up for Simi Valley Home Owners

The government is doing everything it can to keep stability in the housing markets. 75 million was set aside to try and help 3-4 million homeowners with Fannie Mae and Freddie Mac backed loans get help with refinancing. This assistance was designed to help those who are paying their mortgage on time with lower interest rate refinancing. A website was set up so home owners can see if they qualify. See http://makinghomeaffordable.gov/

To check your Simi Valley address against the Fannie Mae and Freddie Mac databases See:

http://loanlookup.fanniemae.com/loanlookup/

https://ww3.freddiemac.com/corporate/

Filed Under: Money matters, Real Estate News Tagged With: assistance, fannie mae, freddie mac, Home Owners, mortgage, Simi Valley

BloodhoundBlog: Update on Fannie and Freddie

September 8, 2008 By Ted Mackel Leave a Comment

Here is a great Blog Post from www.bloodhoudblog.com on the Fannie – Freddie Take Over, from Tom Vanderwell at www.straighttalkaboutmortgages.com

UPDATE ON FANNIE & FREDDIE

Filed Under: Real Estate News Tagged With: bloodhoungblog, fannie mae, freddie mac

Fannie – Freddie Take Over? Government Press Conference

September 8, 2008 By Ted Mackel Leave a Comment

Fannie – Freddie Take Over? Government Press Conference

This is a three part video as Youtube will only allow 10 min max videos

Filed Under: Real Estate News Tagged With: fannie mae, freddie mac

Bank IMPLODE-O-Meter

July 14, 2008 By Ted Mackel Leave a Comment

Well I’m back after a busy week and the long holiday weekend kept me from blogging as much as I would have liked. Not to mention that I was one of the many that stood in line Friday for the new Apple iPhone last Friday and my wife would like to throw it in the ocean with my last phone. She claims I am now married to my new tech gadget and she is probably right. She will win out over the phone as she always will and I am trying to assure her now that we just celebrated 18 years together.

Lots of interesting things happened last week including the failure of Indymac and the troubles at Fannie Mae and Freddy Mac. While this all might seem scary for the moment, this will definitely provide some opportunity to the savvy. We are seeing some of the smaller condos in Simi Valley reach lows that could provide as much as a 10% return for an investment rental property.

I stumbled over this great website to help stay informed on the happenings in the Banking industry I wanted to share this link

Bank IMPLODE-O-Meter

I have a series of blogs I have been working on and will get them up soon. Here are a few of the posts I am working on now:

Installing a whole house fan
Marketing your home to today’s Buyers
Simi Valley Stonegate Villas – Battle Royale HOA vs Homeowners

Stay tuned and use the RSS feature to get the feeds to my blog as they happen. Have a great day!

Filed Under: Market Updates, Money matters Tagged With: fannie mae, freddie mac, HOA, Indymac, Iphone, Simi Valley

Simi Valley Home Buying Guide for 2008

May 19, 2008 By Ted Mackel Leave a Comment

As an adjunct to my Perfect Storm Blog post. I went to NAR’s website and looked at the historical sales data, to study the trends as I am constantly asked how long will a recovery take or when will the bottom hit. Those waiting for the bottom will likely miss it as the laggards in every business cycle always do. Sure there is probably some hold out time left, but if mortgage interest rates rise, then the rise in rates will washout perceived gains in timing the bottom.

The issue of mortgage rates is critical as in the Simi Valley Moorpark area, a typical home is well above the FHA preferred rate limits and the increased conforming limits under Fannie and Freddy just require a large down payment.

The volume of sales has been declining, but declining from what?

NAR Stats Chart >

The following decades show the volume trends nationally:

Decade	Low	Average	High
1970s	1.6 mil	3 mil	3.9 mil
1980s	2.2 mil	3.3 mil	4 mil
1990s	3.1 mil	3.9 mil	4.9 mil

In 2005 the Volume reached an all time high of 7.1 million homes sold
in the united states. 40% of these homes were non-owner occupied compared to a typical year where only 12% of the volume would yield to non-owner purchases. The market was so hot the Fed jacked the interest rates to cool off the speculation.

NAR is forecasting 4.5- 5 million units to be sold in 2008. Does this mean that the market will continue to decline? Different areas will have opposite reactions, for Simi Valley Moorpark, we will most likely see more of the same until the REO/short sale market begins to lose steam.

Let’s face it, the banks were giving money away and now they are holding on to their money with very restrictive lending requirements. Easy money will no longer drive our market.

Most of the major carnage has happened. Some neighborhoods are poised for continued price adjustments, however good homes that are priced well are selling and selling with multiple offers. If you find the home that you fall in love with and are worried that whether you have the timing just right, let me assure you, if you wait a replacement home that gives you the same feeling, it may not be available if you wait.

Ask yourself the following questions:

Is this the house I love for what I can purchase now?

Size?

Location?

Affordability?

Amenities?

Can I see myself living here for the next 5-10 years?

If your answer is yes to these questions then don’t try to second guess and let’s write your best offer