Real Estate and Politics...

Yes, Real Estate is very political, no way to avoid that.

Part of my yearly dues to be a member of the National Association of Realtors, and of the California Association of Realtors (not all agents are members, and it makes a big difference. Members in particular adhere to a code of ethics that is much more stringent), go towards political action aiming at protecting the rights of homeowners, and preventing unnecessary involvement into the real estate transaction, with unwanted fees and requirements.

As such, here is a little news from that front:

C.A.R. leadership meets with members of Congress

Next week, C.A.R.’s Leadership Team will be in Washington, D.C., meeting with members of California’s Congressional Delegation, Fannie Mae, Freddie Mac, FHFA, FHA, and other real estate industry groups. C.A.R. will be advocating on members’ behalf on housing policy issues such as
- protecting the mortgage interest deduction,
- improving short sales,
- reforming the mortgage finance system, and
- modifying the FHA condo rules to encourage more FHA certifications.
C.A.R. also will voice its concern with a proposal to sell large blocks of Fannie Mae- and Freddie Mac-owned foreclosed homes to large investors and ask the GSEs to increase the number of loans to small investors.

Francis

Silicon Valley Real Estate

Local market trends

useful links

Current Mortgage rates

Refinance Program for Underwater Borrowers - more info...

To add more info to one of my previous blogs ( "Refinancing problems? Here is a suggestion" ) on the refinancing options for people owing more than the value of their home, I'd like to reproduce the information I just received from Joan Fischer from First American Home Buyers Protection (a home protection plan company), which originates from DSNews.com (Authors: Krista Franks and Carrie Bay).
A little long, but of great interest for some people.

Francis