Financing Can Be A Single Woman’s Best Friend
January 26th, 2010 by adminIf you read the newspapers or surf the internet you can’t help but notice the buzz surrounding the latest trend in real estate, Single Women! The reasons for this significant rise in single women buyers have many different components. This trend which is changing not only the face of homeownership but the industry itself is making a significant shift. Industry professionals are scrambling to meet the demand for this growing segment from marketing strategies to the product they offer and that includes the mortgage industry! Lenders have begun to create programs which offer assistance to single women. For example, divorced women are frequently given first time buyer status even if they owned a home in the marriage, making many low down payment or subsidized loans available to them. Child support payments can now be counted as income; bolstering many newly single parent’s ability to qualify for a mortgage. Single women may also be allowed to use alternative forms of credit history, such as a phone bill if they have no credit history. Fannie Mae, Freddie Mac and FHA all offer assistance to single women, low to moderate income purchasers and minorities. The department of Housing and Urban Development (HUD) has the Good Neighbor Next Door Loan Program. It offers substantial discounts to individuals in certain service oriented professions on eligible properties in areas targeted for revitalization efforts.
* Emergency Medical Technicians
* Fire Fighters
* Law Enforcement Officers
* School Teachers (pre-K through 12th grade) Most veterans of the United States Military are eligible for federally guaranteed home loans. Surviving spouses are also able to benefit from VA loans. Eligible veterans may apply for low-interest rate home loans of up to $417,000 to purchase a home. Because down payments and mortgage insurance are not required, these loans are often significantly less expensive than conventional loans. As you can see there is much to consider and there are many options available to assist single women in becoming homeowners. Consult your mortgage professional to discover the one that best fits your needs.
Financing Can Be A Single Woman’s Best Friend
January 16th, 2010 by adminIf you read the newspapers or surf the internet you can’t help but notice the buzz surrounding the latest trend in real estate, Single Women! The reasons for this significant rise in single women buyers have many different components. This trend which is changing not only the face of homeownership but the industry itself is making a significant shift. Industry professionals are scrambling to meet the demand for this growing segment from marketing strategies to the product they offer and that includes the mortgage industry! Lenders have begun to create programs which offer assistance to single women. For example, divorced women are frequently given first time buyer status even if they owned a home in the marriage, making many low down payment or subsidized loans available to them. Child support payments can now be counted as income; bolstering many newly single parent’s ability to qualify for a mortgage. Single women may also be allowed to use alternative forms of credit history, such as a phone bill if they have no credit history. Fannie Mae, Freddie Mac and FHA all offer assistance to single women, low to moderate income purchasers and minorities. The department of Housing and Urban Development (HUD) has the Good Neighbor Next Door Loan Program. It offers substantial discounts to individuals in certain service oriented professions on eligible properties in areas targeted for revitalization efforts.
* Emergency Medical Technicians
* Fire Fighters
* Law Enforcement Officers
* School Teachers (pre-K through 12th grade) Most veterans of the United States Military are eligible for federally guaranteed home loans. Surviving spouses are also able to benefit from VA loans. Eligible veterans may apply for low-interest rate home loans of up to $417,000 to purchase a home. Because down payments and mortgage insurance are not required, these loans are often significantly less expensive than conventional loans. As you can see there is much to consider and there are many options available to assist single women in becoming homeowners. Consult your mortgage professional to discover the one that best fits your needs.
Financing Can Be A Single Woman’s Best Friend
January 14th, 2010 by adminIf you read the newspapers or surf the internet you can’t help but notice the buzz surrounding the latest trend in real estate, Single Women! The reasons for this significant rise in single women buyers have many different components. This trend which is changing not only the face of homeownership but the industry itself is making a significant shift. Industry professionals are scrambling to meet the demand for this growing segment from marketing strategies to the product they offer and that includes the mortgage industry! Lenders have begun to create programs which offer assistance to single women. For example, divorced women are frequently given first time buyer status even if they owned a home in the marriage, making many low down payment or subsidized loans available to them. Child support payments can now be counted as income; bolstering many newly single parent’s ability to qualify for a mortgage. Single women may also be allowed to use alternative forms of credit history, such as a phone bill if they have no credit history. Fannie Mae, Freddie Mac and FHA all offer assistance to single women, low to moderate income purchasers and minorities. The department of Housing and Urban Development (HUD) has the Good Neighbor Next Door Loan Program. It offers substantial discounts to individuals in certain service oriented professions on eligible properties in areas targeted for revitalization efforts.
* Emergency Medical Technicians
* Fire Fighters
* Law Enforcement Officers
* School Teachers (pre-K through 12th grade) Most veterans of the United States Military are eligible for federally guaranteed home loans. Surviving spouses are also able to benefit from VA loans. Eligible veterans may apply for low-interest rate home loans of up to $417,000 to purchase a home. Because down payments and mortgage insurance are not required, these loans are often significantly less expensive than conventional loans. As you can see there is much to consider and there are many options available to assist single women in becoming homeowners. Consult your mortgage professional to discover the one that best fits your needs.
Central San Diego Real Estate Market – Mid Year Snapshot Of Median Prices (2006) – Single Family Homes
October 11th, 2009 by adminCentral San Diego Real Estate Market – Mid Year Snapshot of Median Prices (2006) – Single Family Homes
As of this writing, the San Diego real estate markets appears to have shifted from one that favors sellers to one that favors buyers. However, this premise may not hold true for all communities within San Diego, as median prices for some communities continue to rise while others fall.
While there are many metrics to evaluate the real estate pricing trends of a community, one commonly used parameter is to evaluate the median price of homes from one point in time against a prior point of time. The median price reflects the point at which half the homes are above a particular price point, and half the homes are below a particular price point. The median price metric provides one method to analyze the direction of home prices, but should not be used as the sole source of data from which to form conclusions.
The data below is a comparison of median prices for various communities in central San Diego County, comparing data from June 2005 against data for June 2006. This information is only one metric at a particular point in time, and other metrics or data from future months may support or dispute the pricing trends noted below. For some of the San Diego communities presented below, very few homes sold during June 2006, which diminishes the usefulness of the median price metric.
COMMUNITIES WITH INCREASES IN MEDIAN PRICE – SINGLE FAMILY HOMES – JUNE 2006
The data below pertains only to the sales of single-family homes, and does not include condominiums or townhomes. The data is organized by the magnitude of change in median price, with the highest change in median price presented first.
For the Coronado real estate market, the median price was $1,775,000, which represents a 14.7% increase from the same time last year. Approximately 15 homes sold in June 2006 (21 homes sold in June 2005).
For the Point Loma real estate market, the median price was $1,024,068, which represents an 11.4% increase from the same time last year. Approximately 20 homes sold in June 2006 (14 homes sold in June 2005).
For the University City (UTC) real estate market, the median price was $780,000, which represents a 10.6% increase from the same time last year. Approximately 5 homes sold in June 2006 (19 homes sold in June 2005).
For the La Jolla real estate market, the median price was $1,692,500, which represents a 10.3% increase from the same time last year. Approximately 28 homes sold in June 2006 (38 homes sold in June 2005).
For the Logan Heights real estate market, the median price was $425,000, which represents a 7.6% increase from the same time last year. Approximately 13 homes sold in June 2006 (14 homes sold in June 2005).
For the Paradise Hills real estate market, the median price was $507,500, which represents a 5.7% increase from the same time last year. Approximately 8 homes sold in June 2006 (16 homes sold in June 2005).
For the Mission Hills real estate market, the median price was $927,500, which represents a 3.1% increase from the same time last year. Approximately 11 homes sold in June 2006 (12 homes sold in June 2005).
For the Scripps Ranch (Scripps Miramar) real estate market, the median price was $759,250, which represents a 2.8% increase from the same time last year. Approximately 34 homes sold this month (43 homes sold in June 2005).
For the San Carlos real estate market, the median price was $563,000, which represents a 2.4% increase from the same time last year. Approximately 12 homes sold in June 2006 (16 homes sold in June 2005).
For the Del Cerro real estate market, the median price was $557,500, which represents a 2.1% increase from the same time last year. Approximately 13 homes sold in June 2006 (30 homes sold in June 2005).
For the Normal Heights real estate market, the median price was $676,250, which represents a 1.7% increase from the same time last year. Approximately 20 homes sold in June 2006 (19 homes sold in June 2005).
COMMUNITIES WITH DECREASES IN MEDIAN PRICE – SINGLE FAMILY HOMES – JUNE 2006
The data below pertains only to the sales of single-family homes, and does not include condominiums or townhomes. The data is organized by the magnitude of change in median price, with the highest change in median price presented first.
For the Old Town real estate market, the median price was $580,000, which was a 19.1% decline from the same time last year. Approximately 5 homes sold in June 2006 (14 homes sold in June 2005).
For the Golden Hill real estate market, the median price was $451,000, which was a 16.4% decline from the same time last year. Approximately 10 homes sold in June 2006 (13 homes sold in June 2005).
For the Pacific Beach real estate market, the median price was $851,960, which represents a 14.8% decline from the same time last year. Approximately 15 homes sold in June 2006 (19 homes sold in June 2005).
For the Tierrasanta real estate market, the median price was $570,000, which represents a 12.6% decline from the same time last year. Approximately 9 homes sold in June 2006 (17 homes sold in June 2005).
For the North Park real estate market, the median price was $560,000, which represents a 9.7% decline from the same time last year. Approximately 31 homes sold in June 2006 (16 homes sold in June 2005).
For the College Grove real estate market, the median price was $475,000, which represents a 5.9% decline from the same time last year. Approximately 38 homes sold in June 2006 (40 homes sold in June 2005).
For the City Heights real estate market, the median price was $390,00, which represents a 5.3% decline from the same time last year. Approximately 17 homes sold in June 2006 (30 homes sold in June 2005).
For the Mira Mesa real estate market, the median price was $510,000, which represents a 4.7% decline from the same time last year. Approximately 45 homes sold in June 2006 (47 homes sold in June 2005).
For the Linda Vista real estate market, the median price was $510,000, which represents a 4.2% decline from the same time last year. Approximately 16 homes sold in June 2006 (17 homes sold in June 2005).
For the Mission Valley real estate market, the median price was $510,000, which represents a 3.8% decline from the same time last year. Approximately 7 homes sold in June 2006 (18 homes sold in June 2005).
For the Encanto real estate market, the median price was $435,000, which represents a 3.3% decline from the same time last year. Approximately 36 homes sold in June 2006 (47 homes sold in June 2005).
For the Clairemont real estate market, the median price was $555,000, which represents a 2.6% decline from the same time last year. Approximately 30 homes sold in June 2006 (34 homes sold in June 2005).
For the Sorrento Valley real estate market, the median price was $861,000, which represents a 1% decline from the same time last year. Approximately 6 homes sold in June 2006 (5 homes sold in June 2005).
ADVISORY
Homebuyers and home sellers should keep in mind that the data above is simply a snapshot in time, and is not conclusive of the pricing trends for any community. For some communities presented above, very few homes were sold during June 2006, which makes the use of the median price metric of limited value. The data must be evaluated over a longer duration, and involve multiple metrics to fully understand enduring market trends. Contact your Realtor to obtain information about enduring market trends for any given community.
