Lund Team Journal - Rates and Mortgages

April Real Estate Market Update - Financing

This month, Tyson Lund is joined by Jennifer Lund to talk about the importance of becoming pre-qualified for a home loan in this competitive real estate market. Watch the video or read the transcript below.

Tyson Lund, with The Lund Team, with our great financing contact, Jennifer Lund.

We want to take this time for a real estate market update and two fold - One, educate you about the market and then if you're looking to buy or sell real estate, one of the most important steps, that we can't drive home enough, is get pre-qualified.

And what does that process look like, Jennifer?<?p>

So the process starts with a phone conversation and that is just an opportunity for me to get a lot of details about the borrowers situation. You know: where…

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Financing Dos and Don’ts Before You Offer

Strong financing is part of a competitive North County offer. Know your credit, document your funds, and keep your loan officer informed before you write. The dos and don’ts below are the habits that keep underwriting from stalling a purchase.

The Do’s

• Get your credit report and know your credit score.  Find any fixable challenges that could boost your score.  It's worth real money.  Higher score means a lower rate and access to more loan programs.
• Figure out how much for a down payment and where you will get it.  There are strict rules about the source of money you’re able to use for your down payment. Breaking any these rules can sabotage your home purchase goals.
• Gather your financial documents and be prepared for scrutiny. Pay stubs,…

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California Property Tax Reassessment: Basics for North County Owners

California property taxes are tied to assessed value. A change in ownership, and some improvements, can trigger a new assessment. Annual inflation adjustments are capped under Proposition 13 rules. Parent-child, grandparent-grandchild, and 55+ base-year transfer rules have changed since this post was written (including Proposition 19). Use the sections below as a starting vocabulary only. For a transfer or sale you are planning, confirm current forms and deadlines with your tax professional or the county assessor, and call us if the real estate side is next.

Determining the assessed value of the property is the job of the county assessor’s office, who computes the tax amount based on the current market value when ownership changes occur, as well as a…

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Happening Now – Great Loan Programs with only 10% Down/680 FICO

Have you been thinking about buying a new home, but aren’t confident that you can get a loan with your current credit score? We want to help you get pre-approved for that new home in North County!

Right now, a borrower with a 680 credit score is eligible for a loan up to $850,000 with only 10% down! That means you could potentially afford that $944,000 Carlsbad home under this new program offered by Jennifer Lund of Caliber Home Loans.

Looking for a $1,000,000 loan with a credit score of 700? This new program has you covered as well with 15% down, which means that $1,175,000 home in Bressi Ranch is just a loan application away.

For more information on these programs, contact Jennifer Lund Mortgage with Caliber Home Loans (nmls#925352) at (760)…

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North County Real Estate News: Types of Mortgages for 2015

Have you decided 2015 is your year to become a homeowner? Mortgage rates are at the lowest they’ve been since June 2013 and we can help you find the option that works best for you. Our North County real estate, family-owned business has led people to the home of their dreams since 1982. There are several different mortgage options to choose from if you are considering buying a new home. Below are the types and rates of mortgages available as of January 14, 2015.

Conforming Mortgage

There hasn’t been a change to loan limits backed by Fannie Mae or Freddie Mac since 2006 and conforming loan limits remain unchanged for 2015. These two associations are legally restricted to purchase single-family mortgages with origination balances below a certain…

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Lowest Rates Since June 2013

Mortgage rates have plummetted in the past week.  Homeowners who have purchased in the last 18 months should review their personal situation to see if a refinance or purchase makes sense.  

For additional questions on specific rates and terms contact:

Jennifer Lund
Jennifer.lund@CaliberHomeLoans.com
8910 University center lane, suite 265 | San Diego, ca 92122
M: (760) 420-6670 - nmls#925352

As of January 14th:

30 year Jumbo 3.875% with 20% down at NO POINTS 21 day Close Guarantee~!

Conf 30 3.65% 30 yr fxd Conforming: (loan amounts under $417,000) APR 3.8%

Conf 30 HB 3.75% High Balance 3o yr fxd (loan amounts up to $546,250) APR 3.919%

Conf 15 3.0% Conforming 15 yr fxd APR 3.36%

FHA & VA 30 3.5% 30 yr fxd APR 3.52%

Conv. and Gov’t. Loan…

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Scarce Sellers, Bullish Buyers

This is the October 2012 article for the Carlsbad Business Journal.  -Tyson Lund

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Fewer homes for sale amidst falling mortgage rates has left North County San Diego’s real estate market in a temporary seller’s market.  A 'sellers market' is defined as a time period when buyer demand for housing exceeds available supply.  A sellers market gives those selling property an opportunity to secure a higher price, sell faster and/or negotiate superior terms than compared to recent comparable sales.   And although only a fraction of the strength of the extreme sellers market 2004-2005 and possibly only temporary, the current sellers market is being confirmed with several key metrics used daily by real estate practitioners..  

Experienced…

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Carlsbad And Encinitas Home Sales

We here at The Lund Team continually look at the ever-changing reams of data for home sales in North San Diego County. Personally, what I find most interesting is the ever shrinking number of REO property during 2012. REO means real estate owned and is an acronym for a foreclosure home.  Short sale homes continue to be a significant part of the coastal real estate market.  find out what a short sale is here.

Carlsbad and Encinitas By The Numbers

For the following zip codes: (92007,92008,92009,92010,92011,92013,92018,92023,92024)

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Short Sales In San Diego w/ Bank Of America

Short Sales Just Got Easier in San Diego County! 

...If you have 1st and 2nd loans with Bank Of America.  It is common to have 1st and 2nd with Bank of America, as Countrywide home loans was extremely active in San Diego.  And since Countrywide was acquired by BOA - many San Diegan's have BOA loans. 

Here is the press release:

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Changes to 2nd Lien Deficiency Waiver Guidelines

Bank of America has extended additional support to homeowners by agreeing to enhanced 2nd lien deficiency waiver guidelines.

Basic qualifications:

• The short sale must be initiated on or after June 1, 2012.
• The 2nd lien must be attached to a 1st lien mortgage owned by Bank of America.

If you determine that the homeowner qualifies for this…

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Carlsbad Condo Market Report - April Update

Carlsbad condominium and town home sales are robust in 2012.  Carlsbad saw an average 50 units sell a month in April versus an average of 25 in 4th quarter 2011.  The results of continued low mortgage rates and reduced inventory, Carlsbad condo's are securing 98% of asking price with the average 2 bedroom, 2 bath 1,400 sq.ft. condo selling for $324,000. Average time on market is around 51 days for traditional sale property, a time that has moved down from 55 days in previous months.  Average sale prices have remained relatively unchanged since 2011. Similar to single family homes, condos are become more scarce in 2012.  Month(s) of sellable inventory for condos in Carlsbad is 2.2 months. Search Carlsbad Condo and townhome properties for sale

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