Six must-haves for mortgage approval

Interest rates are hovering around historical lows, and low interest rates increase affordability, making it easier for buyers to qualify. Yet stories of buyers waiting months to gain loan approval and home purchase transactions not closing on time due to lender’s strict underwriting are all too common. Some buyers are turned down for illogical reasons. …

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Urgency Sells Homes

After the tech bubble burst, people were leery about putting money into the stock market, and instead poured money into housing. It was easy to get financing — too easy, as it turned out. The inventory of homes for sale was low, and demand was high. When the demand is high and supply is low, …

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Price Differences and the Mix of Home Sales

After dipping slightly below the 500,000 benchmark in February, sales of existing single-family homes in California bounced back to 514,090 units in March, an increase of 3.1 percent on a month-to-month basis, and a gain of 1.5 percent from last March.  The statewide median home price increased 5.4 percent to $286,010 from February, after declining …

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Pending Sales Increase

Pending home sales were up 13.6 percent in California from December to January, with distressed properties accounting for more than half of pending transactions, according to a new index compiled by the California Association of Realtors®. C.A.R.’s pending home sales index surveys more than 70 Realtor® associations and multiple listing services, and uses 2008 sales …

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