The Mountain View City Council voted to increase fees on new rental, office, high-tech, and industrial development, but made no change to fees on new ownership housing. In making its decision, the council discussed the serious lack of available ownership housing in Mountain View and the need to keep ownership an attractive option for developers. The City dedicates these fees to funding Mountain View’s affordable housing programs. Continue reading →
CourtesyTony Guaraldi, VP of Mortgage Lending Guaranteed Rate Mortgage
Are Interest Only loans coming back???Well technically they never fully left the industry even after the mortgage market meltdown in 2008, but most people are unaware these programs still exist today. However, there is only a small handful of lenders that offer the Interest Only programs today and they are nothing like “fog the mirror” testto qualify for them as it many people joked about prior to 2008. In fact the Interest Only programs offered today are even more strictin terms of income, down payment, and credit requirements then their principal in interest counter parts. Makes sense that underwriting would be more strict as the lender is taking more risk by not have principal reduced every month.
Courtesy Tony Guaraldi, VP of Mortgage Lending Guaranteed Rate
Welcome to our Friday update. The Jobs report for February is out and it beat expectations coming in at 175,000 jobs created above expectations of 150,000. Additionally there were upward revisions from the past two months reports of 25,000 additional jobs created.
First Broker Tour of the year in Sunnyvale and new homes that Iviewed today! One of my favorites, tucked away in the exclusive Hidden Valley Complex:
867 RATTAN TERRACE, priced at $730,000, is a 1,649 sq ft townhome with 3 spacious Bedrooms/3 Baths. It is as serene as being in the middle of a quiet redwood grove forest! Beautiful and lush community just minutes to new Apple campus & 49er stadium. This is an end unit with beautiful views, plantation shutters, an open and airy feel.
Three wonderful homes on tour today were in both the Cherry Chase Elementary and Homestead High School District: Continue reading →
One of the best ways to get your Silicon Valley home ready for sale is to have nice looking, clean and organized closets, as Buyers will be viewing. This is a wonderful tutorial video by Alex that provides great tips of how to organize items by size, type and color with stackable containers and a spinning shoe rack – if you present your closets neat and clean like this when you sell your home, your Buyers will love your home!
Jeni PfeifferIntero presents mortgage update courtesy Tony Guaraldi: As we mentioned the last couple weeks Bonds are trading between the 100 and 200 day moving average right now and that trend continued this week as expected. CLICK HERE for the Oct 18, 2013 Mortgage Rate Sheet. Continue reading →