Michael Novia's Blog
or Lender in San Francisco, CA
/voices/profile/Real_Estate_Pro-San_Francisco_CA-63231/
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A Great Day to Lock a Loan
Posted Under: Financing in San Francisco | September 22, 2011 12:10 PM | 2,298 views | No commentsRates are down across the board today....
> $417,000/3.990%
> $625,500/4.125%
>Jumbos/4.625%All 30 year fixed, 740+ FICO, 20% down payment. Other loan scenarios are available and at great rates today too! It takes about 15 minutes to lock your rate and then we have 5 days to collect your documents (pay stubs etc.) Please call for more information.
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An Easy Start to your Morgtage Application
Posted Under: Financing in San Francisco | September 14, 2011 11:45 AM | 2,502 views | No commentsAre you considering your first home purchase? If so, the pre-approval process to get started may be much easier than you think.
Fill out a loan application either in person, via phone or securely online.
If you are a W2 employee, simply gather the following documents:
- 30 days of pay stubs
- Last two years W2's
- 2 months asset statements (we can discuss the value needed)
That's it, you are on your way - and of course you are under no obligation and there is absolutely no cost to get pre-approved. Once you get pre-approved you can begin shopping for your new home.
Please feel free to contact me for a current rate quote or any additional questions you may have. -
San Francisco Food Bank
Posted Under: Quality of Life in San Francisco County | April 14, 2011 9:18 AM | 5,224 views | No comments
How Can I Help?
1) Use Your Opinions For Good
Sign up with Opinions for Good (Op4G), an online market research firm that pays you for your opinions and lets you automatically donate some of your earnings to the SF Food Bank. If we get 1,000 people to sign up, Op4G will donate $25,000 to the Food Bank. We're a little more than halfway there -- help us reach our goal! Click here to sign up!
If you've already signed up, thanks! Please tell your friends about this opportunity on Facebook.
2) Tell Us What You Think
Take our short enews reader survey. Let us know what you're most interested in -- or what you're just plain tired of hearing about!
3) Give Meals Every Month
Join our Meal-a-Month club. Your automatic monthly gift will help fill plates throughout the year. A $12 donation every month provides $72 worth of food -- fresh fruits and vegetables straight from the field, dairy and salads rescued from the supermarket, and much more.
Source: SF Food Bank, Food Matters Newsletter -
Public Schools Face Devasting Cuts
Posted Under: Quality of Life in San Francisco, Schools in San Francisco | April 5, 2011 2:41 PM | 5,573 views | No commentsObviously a very important issue. Please take a minute to write your elected officials and tell them we need to save funding for our schools. Visit http://www.educateourstate.org/let-us-vote-campaign.php. There you can easily send a prewritten email or write you own.
Greetings from Educate Our State:
Unfortunately, late last week, our Legislature missed the deadline for a June special election vote to keep our school funding at its current level. You can watch Governor Brown’s video announcement here.
The efforts of the “Let Us Vote!” campaign did not go unnoticed – with over 60,000 letters written from Educate Our State supporters like you and media mentions from across the state. However, the fight is not over. In the face of $5 billion in cuts to education ($800 per student) - we can't give up on our kids!
THE LEGISLATURE CAN STILL SAVE SCHOOL FUNDING - here are two options:A. The Legislature can maintain all or some of the current revenue by a legislative vote NOW; or
B. The Legislature can approve a special election (public vote) for a later date -- probably November.NOTE: regarding the timing of passing the revenue extensions: If the revenue is approved by the end of June, (option A above), school districts will not have to act on their "doomsday" budgets. If the revenue is approved later, (option B above), school districts will have to act on their worst case budgets, which will mean larger class sizes, massive lay-offs, shorter school year, program reductions, and much more damage to California's children.
What can we do?- Keep the pressure on our Legislature--don't let up! Two-thirds of the Legislature must vote to maintain current revenue levels or our schools will face huge budget cuts. Keep sending letters and making calls!
- Watch for the Educate Our State action plan: We are joining forces with other statewide groups (including CA PTA, PICO and others), to make our voices heard and increase the pressure on our legislators to do what is best for all of the 6.2 million K-12 public school children.
Together, we can save our schools!
For more information about Educate Our State, a list of our partner organizations and our efforts to unite the voices of Californians in support of K-12 public education and demand real change visit the Educate Our State website at www.educateourstate.org. Follow us on facebook, twitter, purchase a car magnet or consider a donation.
Thank you!
The Educate Our State Team
www.educateourstate.org -
Mortgage Rates Continue to Inch Up
Posted Under: Financing in San Francisco | April 1, 2011 1:45 PM | 5,307 views | No commentsFor the second straight week, mortgage rates were on the rise, but still remain overall low, reports Freddie Mac in its weekly mortgage market survey.
While interest rates for the 30-year fixed-rate still stand below 5 percent, rates inched up slightly this week averaging 4.86 percent. Last week, rates averaged 4.81 percent. Last year at this time, 30-year rates averaged 5.08 percent.
The 15-year fixed-rate mortgage averaged 4.09 percent this week, up from last week’s 4.04 percent.
The 5-year adjustable-rate mortgage averaged 3.70 percent, also up from last week’s 3.62 percent average.
"Low rates have benefited from relatively benign inflation reports,” says Frank Nothaft, chief economist for Freddie Mac. “Inflation as measured by the 12-month growth in the core price index for consumer spending ... is hovering near the lowest pace since 1960 when this data series began.”
Source: “30-Year Fixed-Rate Mortgage Up Slightly for Second Week,” Freddie Mac (March 31, 2011) -
Home Sells for Record Price
Posted Under: Celebrity Homes in San Francisco | March 31, 2011 10:31 AM | 5,409 views | No commentsA Russian investor paid $100 million for a 25,500-square-foot home in Los Altos Hills, Calif., which marks the highest price paid for a single-family home in the U.S.
Billionaire Yuri Milner, 49, who heads Digital Sky Technologies and whose investments include Facebook Inc., Groupon Inc., and Zynga Inc., has no immediate plans to move into the French chateau-style mansion and has a primary residence in Moscow.
The $100-million home features views of the San Francisco Bay, indoor and outdoor pools, a ballroom, and a wine cellar.
The high-price purchase is another sign in the growing strength of the luxury real estate market. Sales volume of homes more than $1 million increased nearly 4 percent in February year over year, the National Association of REALTORS® reports. Meanwhile, sales volume for homes priced between $100,000 and $250,000 have dropped nearly 8 percent.
This marks the highest known price anyone has paid for a single-family home. Investor Ron Baron in 2007 paid $103 million for 40 acres of vacant land in East Hampton, N.Y.
Source: “Home Brings $100 Million,” The Wall Street Journal (March 31, 2011) -
Shadow' Inventory Shrinks Slightly to 1.8 Million
Posted Under: Market Conditions in San Francisco | March 31, 2011 10:28 AM | 5,314 views | No commentsAn improving economy has helped more home owners stay current on their mortgages and banks’ willingness to do more loan modifications have all helped to slightly drop the number of distressed homes, says Sam Khater, CoreLogic senior economist.
The U.S. had 1.8 million distressed homes in January that had yet to be listed for sale — that's down slightly from 2 million homes in January 2010, market researcher CoreLogic reports.
Experts predict that number will continue to drop as the economy improves.
This “shadow” inventory includes homes that are more than 90 days delinquent on the mortgage, are in the foreclosure process, or are already bank owned, according to CoreLogic.
The states with the highest shadow inventory are New Jersey, Illinois, and Maryland, where it's estimated it will take 21 months (nearly 2 years) to sell the homes that are 90 days or more delinquent, CoreLogic reports.
Source: “Number of Unlisted ‘Shadow’ Homes Dip,” USA Today (March 31, 2011)