Conforming Jumbo Loans

I attended a market update with a financial firm and have an update on the conforming loan increase to $729,750 and what this means to Buyers and those trying to refinance.

These loans are being called Conforming Jumbo loans and the earliest it seems that these will hit the market is April 1st. The rates on these will not be at conforming or jumbo rates but somewhere in between the two. This does make sense since the increased loan amount represents more increased risk to the lender, they would like to make a little more interested for loaning out the funds.

If you have any questions on the loan side please call my partner Mya Tran at (408)472-7558 or e-mail her at mya_tran@yahoo.com.

Dream Dinners Newark Grand Opening!

A big congratulations to Frank and Jenie on a very successful grand opening of Dream Dinners in Newark. I had a very fun time building my dinners and doing demos! This is how it works, you place the order online for a session, you go in and build your dinners for the month. All of these items are made by your own hand with the freshest ingredients then you can place them in the freezer and instructions are given on how to prepare them. It's a great group activity or team builder. You can also elect to have the staff build it for you for $2 extra per meal.

More details located here:

http://dreamdinners.com/main.php?page=locations&store_id=287&state=California

Campbell Condominium Price Reduced $7,000 to $359,888

Price reduced $7,000 to $359,000 and increased Buyers Agent commission! The property has been completely remodeled please forward this to any of your friends and family who may be interested. Property is open this weekend Sunday from 1 - 4.

Here are the specifics on the property:

http://alanwangrealty.com/PropertyDetails?pid=776963&ls=REIL&user=client

- List Price: $366,888, reduced $7,000 to $359,888
- 2 Bedrooms, 1 Bathrooms, 840 Sq Ft, 1742 Sq Ft Lot
- Fully Remodeled With Over $30k of Upgrades Move in Condition!
- Pergo Hardwood Floors Throughout, Newer Cabinetry, Granite Countertops, Appliances, Recessed Lighting, Two Toned Paint and Partially Tiled Floors
- 2 Bedrooms, 1 Bathroom Condominium in Campbell, 840 Sq Ft With a 1,742 Sq Ft Lot
- Private End Unit on the Second Floor With Oversized Balcony for Entertaining Guests
- Parking Steps Away From the Front Door and Plenty of Street Parking
- Low Association Dues at $240 p/month. Amenities Include Hot Water, Garbage, Exterior Paint and Common Area Maintenance
- Quick Access to San Tomas Expressway, Highway 17, 85 and 880

Increased Loan Limits Approved and Homebuyer Seminar

San Jose Mercury News Article on Increased Loan Limits

http://www.mercurynews.com/ci_8481401

First Time Homebuyers, please attend the Homeownership Fair Sponsored by the Santa Clara Association of Realtors!

http://our.web-scheduler.net/?CID=78&sid=&ID=55272&t=1207414800&v=event

Sale Pending Redwood Shores Property Sold to the Buyers of Alan Wang!

As evidence that Buyers are on the move, I am happy to report a Sale Pending on a lovely Townhome by the water in Redwood Shores to my Buyers. This property has 2 bedrooms, 2 and a half baths with 1,424 square feet and 12 years new.

As mentioned prior, my office seems to suddenly be filled with clients putting down offers. For those of you that have been thinking about buying in this Buyers market please let me know so that we can sit down and see if this is a decision you should make now.

For more details please proceed to http://www.alanwangrealty.com and click Featured Listings

February Market Update

My loan consultants continue to wait for banks to make the increase in the conforming rates to the new rates loan limits. They are expecting to see this mid March latest end of March for this change to be in affect. It is still debatable how fast banks are going to be able to move following this legislation.

There have been lots of activity as far as offers are concerned. My office has had a mad scramble suddenly of folks that have been placing offers on homes. I would say the economic stimulus is stimulating some activity here in the Bay Area. I also have an offer out on the Peninsula that we are working closely with the Seller to try to come to terms.

There was also an interesting article posted in Time Magazine explaining why it is a good time to purchase property:

http://isvr.net/usr/1006068013/CustomPages/Time_Magazine_February_25th_2008.pdf

For those of you that have thought of buying, it is time to really start moving on this before everyone else catches on!