Home ownership getting harder

Home ownership may be falling out of reach for more Americans as lenders toughen their standards for Federal Housing Administration-insured loans beyond what agency itself requires. Mortgage lenders including Wells Fargo & Co. and Bank America Corp., the two largest, have raised the minimum credit score on FHA-i loans that they will buy to 640 from 620. About 6.3 million people fall within th range, according to FICO, which created the formula for the ratings. To read the entire article, please visit : http://www.bloomberg.com/news/2010-home-ownership-gets-harder-for-...

East Bay Open Houses for sunday 11/28/10 Now posted!

There is not much to look at this week.  Only 96 East Bay Open Homes for Sunday 11/28/10 posted for this week. I guess everyone is taking the weekend off.  Might be a good time to put in an offer as activity is low and sellers get anxious. To see the list of Open Houses you have to go to my website, http://www.billfletcherhomes.com/ and click on the Open Homes Tab on the left of the page, or simply  Click Here.  I hope you had a wonderful Thanskgiving and wish you lots of luck and fun in finding the perfect home.

Open Houses for 11/21/2010 Now Posted for The East Bay

Over 325 Open Homes, Open Houses, for the East Bay (Albany, Alameda, Berkeley, El Cerrito, Emeryville, Oakland, Walnut Creek, Piedmont, Orinda and more), for Sunday 11/21, are now posted on my website Click Here.  Or go to my website and find the tab on the left.  This is the most complete list available.  Please feel free to use it, download it, whatever. There is never a requirement to register on my website, http://www.billfletcherhomes.com/, and there are lots of reasons to use it. You can do your own home search, search for REo;s. Fixers, Short Sales, Luxury Homes etc. learn about local neighborhoods, or my favorite--view videos of some of the East Bay neighborhoods (right now we have 9 neighborhood videos posted including Rockridge, Tesmescal, Gourmet Ghetto, Piedmont, Oceanview,Thousand Oaks...). I hope this list is useful to you.  I also have copies of the Ad Review available but need your email if you want to receive it. It may have some open houses that are not on my list.  Conversely there are many on my list that are not listed on the Ad Review.  You can also get information from ther Hills Newspapers, the Sunday Chronicle, SFgate.com.  By the way I do not share contact information and do not spam people.  Happy Home Hunting!

Mortgage Rates Climbed Again 11/15/2010

Mortgage Rates climbed again, as retail sales figures came in much higher than expected. Keep in mind that signs of an improving economy usually send rates upward, as a strong economy could trigger inflation and Fed "tightening" (rate increases).  Retail sales figures are very important because our economy is so driven by consumer spending, and retail sales are a great indicator of consumer spending. Rates today are hovering around 4.25% with one point.

I want to point out that the election is over and my prediction that rates would stay low until that time was accurate.  Now, with signs of an improving economy its only a matter of time before they go up.  There will not be a better time to purchase a house than now!

bill@billfletcherhomes.com  510-368-2854   http://www.billfletcherhomes.com/

East Bay Open Homes (houses) for Sunday 11/14/2010 Now Posted

Good morning! I just posted open homes information for 419 houses for sale in the East Bay.  This includes the communitites of Alameda, Albany, Berkeley, El Cerrito, Emeryville, Hercules, Pinole, Oakland, Piedmont, WalnutCreek, Lafayette, Moraga and most cities in Alameda and Contra Costa Counties. Click Here to go to the exact spot on my web page or click on my picture and scroll down on the left side of the page to where it reads Open Homes.  Houses are sorted by city.  Information includes address, cross street, price, and size.  If you need any help please feel free to email me at bill@billfletcherhomes.com or call my cell 510-368-2854.  Have a great weekend and Happy Home Hunting.

Great information on Real Estate related items is available at my website http://www.billfletcherhomes.com/.

New East Bay Neighborhood Videos!! (Berkeley, Oakland, El Cerrito)

I am so excited about this project!  My company, Red Oak Realty, has taken on the task of shooting various neighborhoods in the East Bay and giving the public a feel for the specific neighborhood in a 60 second video.  We have 9 right now ready for you to view at Click Here!!  or cut and paste http://vimeo.com/channels/148012 into your browser.  At this time we have Downtown Oakland, the Gourmet Ghetto, Thousand Oaks, El Cerrito, Oceanview, Rockridge, Temescal, The Elmwood, and Piedmont.  Check them out and give us your feedback.  We plan on doing many more neighborhoods.   If you are new to the area and want to see more about what's going on this is a great place to start.  If you live in the area, you might want to see how well we've done.  You might even see yourself! Give us feedback.
And if you need a great realtor or real estate related services please check out my website or give me a call 510-368-2854. 
http://www.billfletcherhomes.com/

How do Mortgage Lates, Short sales, Foreclosures, and Bankruptcies affect your credit?

What I'm listing below is not necessarily the gospel truth.  I haven't been able to get an exact formula and the more people you talk to the more you'll get different answers to the above question, "How do mortgage lates, short sales, foreclosures, and bankruptcies affect your credit?"
 
Mortgage Late Payments

• Credit score can drop from 100-180 points
• other credit interest rates could be affected (credit cards, equity lines)
• No new mortgage for 12-24 months depending on circumstances

Short Sales

• Credit score can drop from 180-250 points
• Other credit interest rates could be affected
• No new mortgage for a minimum of 2 years depending on circumstances

Foreclosure

• Credit score can drop from 180-250 ppoints
• Other credit interest rates could be affected
• No new mortgage for 3-7 years depending on circumstances
• Will need minimum of 680 credit score and 10% down on next purchase

Bankruptcy

• Credit score can drop 200-300 points
• Other credit interest rates could be affected.
• No new mortgage for 2-4 years depending on circumstance and type of bankruptsy

The above information is not a rule, not a law and only meant to be used as a general guideline.  I hope it is useful. You can get more thorough and complete information from a credit counselor.
But if you need information about buying or selling a home in the East Bay please check out my website: http://www.billfletcherhomes.com/, or email me, bill@billfletcherhomes.com. or call 510-368-2854.

East Bay Open Homes for 11/07/2010 Now Posted

Well its Saturday morning again, and I've just posted all the Open Homes I could find in the East Bay on my website, http://www.billfletcherhomes.com/. From Alameda, Alamo, Albany, Berkeley, and El Cerrito to Lafayette, Orinda, Moraga and Walnut Creek I have posted over 450 East Bay Open Homes for 11/07/2010. The easiest way to get to this part of my website is to CLICK HERE. If the link doesn't work go to http://www.billfletcherhomes.com/ and click on the OPEN HOMES tab on the left side of the page. 

There is no need to register to use the tools on my website and there are many to use.  Do your own home searches.  Find open homes. Explore East Bay Neighborhoods. See Real Estate Market updates for Berkeley, Oakland, Albany, El Cerrito, Kensington and Emeryville. Calculate monthly payments using the mortgage calculator and more.
  
And if you need a great realtor please consider interviewing me for the job! bill@billfletcherhomes.com 510-368-2854.  Happy Home Hunting!

East Bay Residential Real Estate Market Reports Now available!

I just now posted on my website statistics for the following areas:  Berkeley (city as a whole, flats, hills), Albany, El Cerrito, Kensington, Emeryville, Oakland (entire city only), Piedmont (Click Here to See stats).  If you are planning on buying a home or selling a home in any of these areas this information is a must.  Once you start looking at this data you will probably see that now, more than ever, the need for consulting with a great realtor as the markets are many and they are difficult to read. Please call me: 510-368-2854, email me: bill@billfletcherhomes.com, or visit my website, http://www.billfletcherhomes.com/ for more information.