Napa Real Estate News

I am holding a Homebuying/Selling Seminar

Wednesday June 22

7:00 PM

 Rabobank -700 Trancas St Napa, Ca

I will be discussing trends in the Napa Valley Real Estate Market

Short Sales/Bank Owned properties-Myth vs. Reality

Financing Tips in Todays Market

First Time Homebuyers/Move Up Buyers and Downsizing all will be discussed

Rent vs Own

And much more....Refreshments will be served and there will be drawings

Hope to see you there

Virginia Morse

vmorse@cbnapavalley.com

707-888-2199-cell\707-258-4053-direct

www.virginiamorse.com

I am holding open a wonderful home at

2555 Rollingwood Drive Napa, Ca

this Saturday 6/18 from 11-1

Tremendous Street and Rarely available property

3 bedroom 2 bath -Quiet Street - no rear neighbors

Come by and take a look- It is truly a lovely property prced at 467,500. with a 10,000 credit back for buyers closing costs.

This is a new pre approved short sale price

See you Saturday !!

Virginia Morse

Coldwell Banker Brokers Of The Valley

DRE # 10873604

vmorse@cbnapavalley.com

www.virginiamorse.com

707-258-4053

707-888-2199

I will be holding a seminar . See details below

Home Buying and Selling in Today’s Real Estate Market.

We will speak on first time buyers, move up buyers and downsizing

Trends in the Napa Valley including:

Financing Tips

Today’s values - Where are prices going?

Pros and cons of Rent vs. own

Financing Options and requirements – how to prepare for them

Bank Owned homes and short Sales- myths vs. reality

And much much more …………………

Wednesday June 22 2011- 7:00 PM

Rabobank -700 Trancas St -Napa, Ca

There seems to be a lot of misconception about todays lending environment. I want to touch base on a low down payment program that many people don't seem to know about.

It is called FHA financing. Very common, especially with first time homebuyers but it can be used with move up buyers as well.

This program requires 3 1/2 % down payment of the the purchase price, plus closing costs. For example: you want to purchase a 350,000. home. You would need to have 3.5 % as down payment which equals 12250.00. That would be your down payment amount and then closing cost would be an additional cost, which can usually  cost between 2-3 % of the purchase price.

Not to confuse the situation more but very often on Short sale and bank owned purchases the 2-3% closing cost fee can be asked as a credit when the offer is being made. It is very common to get this and if you do the only funds you need to close would be the 12250. , as in the example above.

This is only on a owner occupied property and not for an investment or second home.

Contact me with any questions

Virginia Morse

707-888-2199-cell

707-258-4053-Direct

www.virginiamorse.com

vmorse@cbnapavalley.com

I found out today from one of my trusted lenders that Fannie Mae and Freddie Mac announced that effective October 1 loan limits for the best interest rates will be lowered to approximately 625k.

They have not said exactly what that loan limit will be . What does that mean to you? Nothing if you are purchasing a home under that amount loan amount but if you are purchasing a home over that loan amount it could mean some or all of the following. Increased interest rate, higher down payment would be 2 of the most common issues.

So please keep this in mind when you are out looking. I tell my clients- I would not be so concerned about home prices jumping up in the foreseeable future but interest rates , I believe deserve your attention

Have a good week

Virginia Morse

Coldwell Banker Brokers Of The Valley

vmorse@cbnapavalley.com

www.virginiamorse.com

707-888-2199-cell

707-258-4053-direct