Blossom Hill Condo For Sale

HAPPY INDEPENDENCE DAY

Homebuyer Tax Credit Deadline Extended

It's almost official according to all the news sources. President Obama just has to sign the bill.

For Team Patereau, this bill doesn't have any impact. All of our homebuyers who qualified closed before June 30th.

Life After the Homebuyer Tax Credit

It's safe to say now that the action brought to the nation's housing markets by the Homebuyer Tax Credit is over. Any buyers who wished to take advantage of this credit had to have been in contract by April 30 and now must close by June 30.

But please remain seated before exiting this ride and declaring the housing market D-O-O-M-E-D (as several headlines have cried this week). Gino Blefari, President and CEO of Intero Real Estate has an opinion on this. Read on.

Stager/Realtor Realtor/Stager

Is a Home Warranty in Your Future?

Ran across an interesting website, Home Warranty Reviews, with information about Home Warranty companies, and thought you might be interested. The site is where you can, "Compare and choose the best home warranty plan that suits your needs based on home warranty advice and reviews available here for each warranty provider company." While you're there you can also get a home warranty quote from different companies.

Watch out for the Second Credit Check before closing

Under the new rules your lender might be checking up on you up until the day you close – and that letter of approval may not be the last word on your loan.

Fannie Mae’s new Loan Quality Initiative, which took effect June 1, is part of the mortgage giant’s effort to improve loan quality and cut down on the kind of shoddy underwriting that helped crush the housing market, and ultimately make it unnecessary for there to be so many loan repurchases.

The new Loan Quality Initiative requires any lender that sells its mortgages to Fannie Mae to determine that borrower liabilities incurred up to, and concurrent with, closing are disclosed and evaluated in qualifying the borrower for the loan. But exactly how lenders go about doing this is up to them. In many cases, it will entail a “refreshed” credit report pulled immediately before a borrower’s closing date.

In simple terms, do not obtain new credit or make a big purchase before closing.

Your Graceful Exit

Other videos are available from HAFA, the government-subsidized Home Affordable Foreclosure Alternatives program for distressed homeowners. http://www.makinghomeaffordable.gov/

Home for Sale in Gilroy

Energy Efficient Appliance Rebate Program and ENERGY STAR® Recovery Funding

California Energy Commission Allocated: $35.2 million

The rebate program will:

• Save energy by replacing inefficient appliances with more efficient ones.
• Make rebates for efficient appliances available to residential consumers.
• Leverage the ARRA funds with existing rebate programs and partnerships.
• Keep administrative costs low while meeting the federal monitoring and evaluation requirements.
• Provide state and national rebate tracking and accountability.
• Use current ENERGY STAR® consumer education and outreach materials.

California's Rebate Program

 Three residential appliance categories were selected to be eligible to receive rebates: clothes washers (rebate $100), refrigerators (rebate $200), and room/window air conditioners (rebate $50). These rebates are in addition to existing rebates offered by California's utilities or appliance manufacturers.

The Energy Commission used the list of "pre-screened" appliances from the DOE. To qualify, the appliances must be ENERGY STAR-listed, meet CEE tier standards, and certified to the Energy Commission as meeting all state and federal appliance efficiency standards.

Please visit the Cash For Appliances website for more information.

Thanks to Dana Condry, Fidelity National Home Warranty for today's info.