For Sale: 2BR/1BA Condo in Whittier, CA, $175,00

2BR/1BA Condo 

offered at $175,000

Year Built 

1972 

Sq Footage 

880 

Bedrooms

2 

Bathrooms 

1 full, 0 partial 

Floors 

2 

Lot Size 

1,917 sqft 

DESCRIPTION

Great condo in the city of Whittier. This home features 2 bedrooms and 2 bathrooms. Two story, hardwood, community pool and spa. 1 parking available in the carport. Completely renovated!!!!! Brand new kitchen, bathrooms, moldings, and paint throughout.

562.945.0317

www.endeavorRE.com

The Lion and the Gazelle

Every morning in Africa, a gazelle wakes up. It know it must run faster than the fastest lion or it will be killed. Every morning a lion also wakes up. It knows it must outrun the slowest gazelle or it will starve to death. It does not matter where you are a lion or a gazelle. When the sun comes up, you had better be running.

Every morning an Endeavor agent wakes up and starts running, running to bring YOU results.

Endeavor Real Estate

562.945.0317

info@endeavorRE.com

www.endeavorRE.com

Great News for Buyers with a Short Sale! New Eligibility Rules Announced From Fannie Mae!

There's great news from Fannie Mae for home buyers who have experienced a short sale or deed in lieu of foreclosure. To help the housing market's continued stability, Fannie Mae is changing the "waiting period" (i.e. the amount of time that must elapse after the preforeclosure or short sale event) before home buyers can qualify for a loan.

Several factors will impact these changes, including the required down payment or loan to value (LTV) for the transaction and whether extenuating circumstances contributed to the individual's financial hardship (e.g. a job loss). The following chart highlights the new rules:

Preforeclosure Event	Current Waiting Period Requirements	New Waiting Period Requirements (1)
Deed-in-Lieu of Foreclosure	4 years Additional requirements apply after 4 years up to 7 years	2 years – 80% maximum LTV ratios
Preforeclosure Sale	2 years	4 years – 90% maximum LTV ratios
Short Sale	No policy currently exists specific to short sales	7 years – LTV ratios per the Eligibility Matrix
Exceptions to Waiting Period for Extenuating Circumstances
Preforeclosure Event	Current Waiting Period Requirements	New Waiting Period Requirements (1)
Deed-in-Lieu of Foreclosure	2 years  Additional requirements apply after 2 years up to 7 years	2 years – 90% maximum LTV ratios
Preforeclosure Sale	No exceptions are permitted to the 2-year waiting period
Short Sale	No policy currently exists specific to short sales

(1)The maximum LTV ratios permitted are the lesser of the LTV ratios in this table or the maximum LTV ratios for the transaction per the Eligibility Matrix.
Note that the terms 'short sale' and "preforeclosure sale' are both referenced in Fannie Mae’s announcement and have the same meaning – the sale of a property in lieu of a foreclosure, resulting in a payoff of less than the total amount owed, which was pre-approved by the servicer.

The bottom line:  Buyers who have experienced a short sale or deed in lieu of foreclosure may be eligible for financing sooner than previously expected…especially if they have 20% to put down.

Read the full announcement from  Fannie Mae.

For Sale: 4BR/2BA Duplex in El Monte, CA, $399,000

2 Units

4BR/2 Bath 

This 1,523 square foot single family home has 4 bedrooms and 2.0 bathrooms. It is located at 2245 Bryce Rd El Monte, California. The nearest schools are Maxson Elementary School, Charles T. Kranz Intermediate and Mountain View High School.

$399,000

2010 California Tax Credit info and how to get it!!!

Here's a link for detailed info on how to request the Tax Credit

http://www.ftb.ca.gov/individuals/new_home_credit.shtml


2010 Tax Credit for New Home / First-Time Buyer Frequently Asked Questions

http://www.ftb.ca.gov/individuals/New_Home_Credit_FAQs.shtml

Ahead of Tax Credit Deadline, Pending Home Sales Gain Again

by Austin Kilgore 10:41 AM May 4, 2010


Pending home sales rose for the third straight month in March, as buyers rushed to sign contracts leading up to the April 30 expiration of the homebuyer tax credit, according to the National Association of Realtors (NAR).

NAR’s pending home sales index increased 5.3% from February to March. This year’s pending sales were up 21.1% from March 2009. In February, pending sales were up 8.3% year-over-year. The index is a measure of home sales contracts that typically close one or two months after signing. It’s based on a national sample that typically represents about 20% of existing-home sales transactions and is a leading indicator of future home sales.

NAR chief economist Lawrence Yun said the homebuyer tax credit is responsible for boosting sales. “Clearly the home buyer tax credit has helped stabilize the market. In the months immediately following the expiration of the tax credit, we expect measurably lower sales,” he said. “Later in the second half of the year, and into 2011, home sales will likely become self-sustaining if the economy can add jobs at a respectable pace, and from a return of buyer demand as they see home values stabilizing.”

“Another encouraging sign is the improvement in the availability for jumbo and second-home mortgages,” Yun added. “As bank balance sheets strengthen, it is just a matter of time before lending of non-government-backed mortgages steadily opens up.”

Regionally, pending sales increased the most in the South, where the 12.7% month-over-month increase put pending sales 28.3% above the March 2009 level. In the West, the index increased 1.9% month-over-month, bringing pending sales up 8.8% from one year ago. The index increased 1.2% in the Midwest and is now 18.5% above a year ago. The Northeast was the only region to experience a decline, down 3.3% from February. However, pending sales in the Northeast are 27.2% above March 2009’s level.