Why Buyers Have Been Feeling Angry

Those who are looking to buy have been sharing opinions on what it has been like to find a home. The opinions of many of these buyers have been heated, and the debate hasn’t been the increase in insurance premiums on FHA loans either. The challenge and debate has been over the number of homes in inventory that are attractive, and apparently there hasn’t been enough of that going around. I recently read about an interview that CEO of Redfin Corporation had with a customer in California. While she works in the television industry, she is blighted by the fact that there hasn’t been much to pick from for less than $500,000 since the 90’s. How does that factor in right now? 

The Challenge of Being Outbid

This buyer’s challenge in California was not always the inventory in the price range, but the fact that so many homes were being snatched up by investors without her getting the chance to fairly bid on them. It seems that debate has been hot, and while there are plenty of homes to choose from it has posed a bit of a problem for many. I am not sure that there is a happy medium here, because depending on what shape the house is in, there are buyers who aren’t ready or willing to put money into the home upfront. I can understand that because with everyone watching every penny, including those who do have a significant down payment, after moving who wants to keep working around the clock on a new home? 

For more information on how to get the expertise and help you need in buying your new home, you can visit my website by going to www.fhaloansnow.net, or you can call me right now at 310-498-2700. I have a strategic alliance of realtors I work with and other experts that can help us get further along than you ever imagined. 

-Mayer Dallal

Tough Words on FHA Down Payment Assistance

FHA down payment assistance programs were eliminated back in 2008. This was a shock to many who were really hoping to take advantage of these programs and to me as well. I had hopes of seeing some families get to take advantage of this, but there were some reasons why it happened.



FHA is seeking to bring it back, but there is no word for sure on whether or not that is going to happen. These programs being terminated brought losses in excess of $14 billion for FHA. U.S. Representative, Al Green, a Texas Democrat, wanted to see the FHA down payment assistance programs reignited through donations from non-profit organizations. These FHA down payment assistance programs would be funded by 3% for those who are considered low income buyers.



Whether or not this will work, there is no way to know for sure, but lawmakers wanted to halt the FHA down payment assistance programs because they felt it would encourage default. It seems that the government can’t strike a balance and that no matter what the arguments will go back and forth until someone gives up.



I would like to see FHA down payment assistance programs return, but unfortunately I don’t get a say in how this happens. All we can do is wait and see what tomorrow holds for us. Until next time, much success to you and your family. For more information on the current FHA guidelines, please visit my website, www.fhaloansnow.net.

-Mayer Dallal