You can only get a USDA loan in a designated rural area. USDA is better if you have a choice between the two. USDA is zero down 100% financing and does not have monthly mortgage insurance. FHA is min 3.5% down and has monthly mortgage insurance. So your payment will likely be lower with a USDA loan.... more
I think an other reason to add is the time of year... Yes interest rates are low for buyers, which adds buyers..... But, on the sellers side, any one that has been in the market longer than a year knows that this time of the market slows down. No one sells houses during this time of year, compared to spring and summer time. Banks are slowing down on REO's for now. Short sales still, no matter what banks say take at least 3 months. People doing short sales most likely are buying time for the holidays and trying to post pone listing their home for sale as long as possible. Regular sellers are starting to see some profit being made but it is still a small margin, considering when you ask them they always compare todays prices with the artificial prices of 2006.... more
It is important to work with an agent you are comfortable with and one that is well versed in the REO market. If you are interested I do work with with an REO team and can possibly assist you, but would need to know more as to your needs. Please contact me at your convenience.
12345 Ventura Blvd. Ste M
Studio City, CA 91604
(310) 595-5522 Direct
(818) 980-5040 Office
(818) 980-5020 Fax... more
Abhijay, Blayne and David are excellent agents and had great answers for you. Let me add that you cannot go strictly by how much per square foot when purchasing a home. You need to keep in mind the lot size because you don't want to pay the same price for a home on a smaller lot than on a larger lot if everything else is the same...
If you need further assistance, you may reach me at 818.432.1671 - I will be happy to help!... more