Well, there are and especially if you live in the Los Angeles, Orange County, Riverside, San Bernardino and San Diego county area.

If you’re a looking for first time home buyer programs in California, we’re sure you are seeing prices of home become more affordable and within home ownership reach. When have we seen real estate prices and interest rates any better, right? Speaking of interest rates, did you also know rates for many first time home buyers are as low3.25% -3.375%? Yes, its true!

If you’re searching homes for sale in Los Angeles, Orange County, Riverside, San Bernardino and San Diego you have the best of both worlds…affordability and down payment assistance programs to help qualify for your new home.

First Time Home Buyer Programs You Must Know in California

1. California Housing Finance Agency (CalHFA FHA & CHDAP) – BEST PROGRAM CalHFA FHA

The California Housing Finance Agency offers a below market mortgage option to first time homebuyers. The CalHFA FHA 30-year Fixed Mortgage provides up to 96.5% financing with a low, fixed interest rate that never changes during the life of the loan. This first mortgage can be combined with CalHFA’s down payment assistance programs for added benefit.
CHDAP, Down Payment Assistance That Works

CalHFA can also help with your down payment or closing cost. Payments on these one-of-a-kind loans are deferred, meaning you don’t have to pay them back until you sell, refinance or pay off your home.

California Homebuyer’s Downpayment Assistance Program (CHDAP) – offers up to 3% down payment or closing cost assistance and can be combined with any of CalHFA’s first mortgages.

2. Southern California Housing Finance Agency (SCHFA)

The First Home program is designed to help homebuyers purchase a newly constructed or existing home by providing a below market mortgage loan interest rate 3.25% with a 3.00% gift for down payment and closing cost assistance. This program is targeted to low and moderate income households. Funds are available on a first come, first served basis.

3. CRHMFA Homebuyers Fund (CHF) – CHF ACCESS

This is a very unique program being operated by all the lenders working under the California Rural Home Mortgage Finance Authority. Similar to the federally guaranteed loans, the CHF ACCESS loan program requires the borrower to make a down payment of 3.5%. The attractive part of this loan program is only .50% is needed for down payment and 3% of it can be available at low interest rate of only 8.5%.

Voila and there you have it.

The 3 Hottest First Time Homebuyer Programs in California with Down Payment Assistance for Orange County, Inland Empire, Los Angeles, San Diego homebuyers.

There are many lenders that are not aware or choose to say, “there are no programs available” or “we can’t do those programs” So, keep in mind, it’s important to work with a lender that is approved and has knowledge of qualifying individuals for these programs. Contact me for a list of lenders who know these products and can help you immediately!

949.307.5944

2. There are fewer homes for buyers to look at during the holidays which mean less competition for you…less competition equals more money!

3. After the holidays the supply of listings increases substantially which lowers the demand for your home…more competition equals less money!

4. Your home shows better when decorated for the holidays!

5. Many buyers have more time to look for property during the holidays (as opposed to a normal workweek).

6. We will restrict the showings on your home to the times you want it shown. You remain in control.

7. You can sell now for more money and not have to physically move until January or February…as opposed to waiting to start the whole process at that time.

On a daily basis, I look at the numbers in the market areas I work to stay on top of what is happening in this local market. Honestly, I’m not too concerned with home prices in Indiana or Tennessee so Mr. Lansner’s post is really not relevant to me or my local market. When I look closely at the numbers, I notice a more positive trend here in South Orange County. One of the common misconception of what is going on here locally is that “The Market is Distressed.” Many consumers honestly feel that homes are not selling, there are no buyers, and no banks lending money. That could not be further from the truth. Here’s a closer look at just a few of our local markets here in South Orange County.

Statistics direct from the SoCal MLS: 5/31/2011 – 8/31/2011

DANA POINT

Total Sales: 128
Standard:      81
Distressed:   47   
Percentage Distressed only 36%

ALISO VIEJO

Total Sales: 210
Standard:   114
Distressed:   86
Percentage Distressed only 40%

MISSION VIEJO

Total Sales: 285
Standard:   174
Distressed: 111 
Percentage Distressed only 39%

IRVINE

Total Sales: 569
Standard:   413
Distressed:  156
Percentage Distressed only 27%

So when we look at these numbers we can see where the majority of our local market lies. What should be focused on is that a higher percentage of homes sold recently are standard sales. That means NOT a short sale or bank-owned foreclosure. Of course there are other factors that deem a market good or bad, but a more positive outlook comes from numbers like this. So if you’re looking to sell your South Orange County home, and you look around and feel like EVERYTHING is distressed, rest assured there are positive outlooks in your current local market.

The following are eight tips from that outline how to make homes sustainable, energy- and cost-efficient now, and appealing to eco-conscious homebuyers:

1. A Ray of Light: South-facing windows provide more natural daylight making a home more bright and cheery. But, more importantly, natural daylight can help keep the indoor climate comfortable during the winter months, allowing a homeowner to set the thermostat a bit lower. Alternatively, drawing shades during key daylight hours during the summer can help cut down on air conditioning needs.

2. Green Gardening: Sustainable landscaping is becoming all the rage to eco-conscious homeowners. Planting native plants, vegetation and shade trees strategically around a yard can keep a home cool during the summer and block cold winds during the winter. And native vegetation will thrive in its preferred environment without requiring excess water.

3. Switch to Green Power: The use of renewable energy in a home, such as solar, wind, water or geothermal, greatly helps reduce pollution. However, installing solar panels or wind generators property can be cost-prohibitive for some. Fortunately, many utility companies in the United States offer options to purchase a form of renewable energy that is cost efficient for the homeowner.

4. Dial it Back: Lowering the settings on water heaters, refrigerators, dishwashers and laundry machines reduces the amount of energy required to maintain the temperature. Installing low-flow sink faucets and shower heads also lessens water consumption.

5. Re-use Rain: Recycling rain water for gardening is another great way to conserve. For example, a water collection system under drains can catch the water and then reuse it for watering landscapes.

6. Less Lawn does More: Eliminate as much of the lawn as possible and plant native bushes, flowers, etc. Depending upon a number of factors (including the climate of the region), homeowners can simply cut back on the amount of space that they have to mow to promote energy conservation in lawn care.

7. Turn Old into New: Refurbish the home’s existing materials when remodeling instead of buying new ones (cabinets, tiles, flooring). If brand new appliances are required, homeowners should make sure they are energy-efficient, and should consider donating their old appliances to be recycled or reused.
8. Insulation is Key: Insulating cold-water pipes will prevent them from dripping condensation, and insulating hot-water pipes will prevent costly heat loss and save on energy bill.

Moving can be a life-altering experience for a child. If you are moving out of the area and your children will be attending a new school, the difficulties for children may only be magnified. However, there are plenty of things you can do for your children during the moving process that can turn a stressful event into a time of excitement. Here are some suggestions.

1. Share the news early
Once you have made the decision to move, let your children know and listen to their opinions. While some kids may be disappointed – especially if you are moving out of the area – they may find some solace in providing input. Furthermore, the more time your children have to prepare themselves for the move, the better.

2. Show some excitement
Rather than expressing regret about the decision to move, let your kids know that a new home will be an exciting opportunity for everyone. Talk about the activities your family can do after moving and the benefits of their new school. As moving day approaches, you may find that your children are looking forward to everything from decorating their bedrooms to making new friends.

3. Get the kids involved
As you make the preparations to move, try to get your kids involved in the process. To help your kids remain focused and happy, work with them to schedule some fun activities before moving out. Find some local guide books or websites that your children can read and let them serve as tour guides after moving into the new neighborhood. When packing, it can also be helpful to let children box up and label their own belongings allowing them to feel more in control of the process.

4. Incorporate some creativity
To help your kids take their minds off the stresses of moving, encourage them to be creative. Younger children might enjoy painting pictures of your old house to display after you’ve moved. Older children can keep a journal or scrapbook during moving and have a story to share later. During the moving process, you could also give your kids jobs – complete with badges and uniforms – to help them stay involved.

5. Have a party
Prior to leaving your home, throw a party for yourself and your kids. Invite the friends of everyone in the family and plan some fun, all-ages activities. Afterward, make sure your kids receive contact information for everyone they want to stay in contact with.

6. Get acquainted with your new surroundings
Once you have unloaded the truck, try to make the first night in your new home as exciting as possible. Have fun playing hide-and-seek or a board game before worrying about unpacking and organizing. After you have settled in, start taking walks or bike rides around the neighborhood. You can introduce yourselves to the neighbors and the kids might find some new friends.

7. Get back to normal
For the sake of the entire family’s happiness, try not to take too long to resume doing what your family enjoys. If your family had a custom of bowling every Friday, try to find a bowling alley near your new home. You may also want to drive through the area and acquaint yourself with the locations of businesses like grocery stores and restaurants. When Saturday rolls around, try out the pizza parlor you found.

Though moving can be difficult on children of all ages, it can also provide something to look forward to. By keeping your kids involved during every step of the moving process, you will help them feel in control of the situation. After moving into your new home, help them understand that life will be as fun as it always was; it will just take place in a different location. Most importantly, do your best as a family to stay together and have fun along the way.

That might seem like an insurmountable amount of coin to come up with, but it’s actually more doable than you might think. Some buyers will simply save up their own cash, even if it takes many, many moons. The good news is that if you still need some help to boost your down-payment savings, there are resources you can harness to power your home-buying pursuit:

1. The FHA Bridal Registry.  Yes – you read that right! The FHA Bridal Registry Program enables wanna-be home buyers to apply their families’ wedding gifts toward their down payments. And although it’s named a “bridal registry” program, you don’t have to be a prenuptial couple to use it. You could also use this program to collect gifts for graduation, the arrival of a baby or some other major life event in which people want to give you gifts.

   The FHA Bridal Registry works like a traditional registry, but is more flexible. The registrants visit their choice of FHA mortgage lenders and set up what essentially is a custodial savings account for the sole purpose of funding their down payment. The couple’s (or individual’s) family and friends can either deposit funds directly into the account or give the cash or check to the couple or individual, who then deposits it into the account. The account’s flexibility also goes beyond that of traditional down payment gift rules that are applicable to FHA loans, which are detailed below in insider secret #2. With the FHA Bridal Registry Program, the only gift documentation required is “lender and borrower certification of the funds.”

2. Family gifts.  Most lenders will allow home buyers to apply gift money from family members toward their down payment – within guidelines, that is. First, the lender will require a letter from the giver verifying that it in fact is a gift and not a loan. (They generally frown upon it being a loan because it would add to the buyer’s debt and change their debt-to-income ratio.) And second, the person giving you the money must be a relative. The reasoning here is that a friend will most likely expect you to repay the money, whereas a relative won’t.

   FHA loans will allow the gift to make up any portion or all of the buyer’s down payment, many conventional (non-FHA) loan programs will restrict the proportion of a buyer’s down payment that can come from gift money.  The lender may also have specific ways they want to see the money go into and out of your accounts. Before you accept a gift toward your down payment, be sure to check with your mortgage broker or loan rep to be sure that you’re dotting all the right i’s and crossing all the right t’s.

3. Your Employer.  Some companies offer assistance programs to employees. Most are government, university, large company and financial industry employers. One example is safety workers: n some areas, safety workers like firefighters and police can have access to down payment grants from their employers if they buy properties in the city where they are on-call as first responders. Also, many large colleges and universities, very large companies and banks and lending institutions offer down payment help and have below-market-rate mortgages set up for faculty members and staffers.  Check with your Human Resources department to see if any such program is available to you.
4. City/County/State Programs.  Some states, counties and cities still offer programs that lend or give home buyers some assistance for down payments. These programs vary widely in scope – for instance, many target buyers with low and moderate incomes, while some seek to help the buyers of foreclosed or fixer-upper type homes. Some don’t have to repaid – meaning they are given as grants and are forgiven entirely if the buyer lives in the property for 30 years, but must be repaid if the buyer sells or rents the home out before the 30 years elapses. The programs pretty much all have some sort of homeowner education component that requires applicants to take personal finance and homeownership preparedness classes before they can receive funds. To learn more, visit your city, county and state websites to learn about programs that might be able to help you.

5. Your Retirement Funds.  Many financial advisors would advise against this, but if you have a 401K or Roth IRA account and some years to go before retirement, you might be able to tap into it or even borrow against your own funds for your down payment. Currently, you can take up to $10,000 out of your Traditional IRA with no penalty to put toward the purchase of your first home, but you will be taxed.  You can take as much as you want out of your Roth IRA contributions with no penalty or taxes, though, and as much as $10,000 from your earnings penalty-free for your down payment.  The rules get a little tricky, here, so definitely check in with your tax and financial advisors.

   And while you can’t similarly draw from your 401K, many retirement and pension plans will allow you to borrow the money against your funds, then repay it to yourself – at interest. So the choice there comes down to paying your lender back with interest or paying yourself with interest. That choice should be you! But first, get some advice from your CPA or financial planner. This option might not make financial sense for your particular situation.

By Tara-Nicholle Nelson | Broker in San Francisco, CA

Recently I spoke with a seller who is selling his own home. His reasoning for that I won’t get into here but, his approach to pricing his home was based on the current active inventory, not what has closed and sold. This was interesting to me. His point to me was, “My home is the second lowest priced home with similar size and details, so my price is just fine.”

The problem with this method is exactly what prompted this blog post. Many sellers and/or their agents overprice their home. So what I told him was, you are pricing your home against the “wish list” of other sellers, and not what buyers have already said they are willing to pay for a similar property. He didn’t agree and that is just fine.

One method to avoid the perils of sitting on the market is a pre-listing appraisal. As long as you have an appraiser that is familiar with your city, town, or even your neighborhood you will be just fine. A true market value ahead of time will give you the knowledge and the power you need to get the highest possible price for your home. Remember, if your home is priced too high and even if you find a buyer willing to pay over market value, your home still needs to appraise for that price if the buyer is getting a loan. If they are paying cash or willing to come to the table to satisfy the difference, no problem. But let’s face it. The majority of buyers in today’s market are looking for a deal. You can use this pre-listing appraisal in your favor too. If you have a buyer that is willing to pay a reasonable price for your home, you can use this appraisal to show them what the property is really worth. Most of the time, a buyer will feel more confident to offer more.

If you would like more information about short selling your home in South Orange County, please contact me at anytime.

from equityinmotion.com

Well, that is a big stretch, but you can live your life with decadence and pleasure if you take the time to enjoy a few things and truly stop to smell the roses.

 6 things you should do to bring luxury into your home…

Update the home office

Take care of business with a home office remodel. More and more often people are working out of their houses. It is not just a luxury, but a necessity. Turn an unused den or an old office into an inviting work sanctuary with new windows, a fresh coat of paint and built-in shelving, and you’re sure to reap the rewards.  Best home office collections ideas.

Liven Up the Landscaping

Your yard may be thirsty for a makeover. Dirt and old, dead grass does not constitute a yard. Turn your desert landscape into a destination hot spot with plenty of seating, elegant water features and lush plants. You could even add extra square footage for entertaining. Even if you’re not in a warm climate, glamming up a not-so-hot yard is a good way to go!

Invest In a Major Kitchen Remodel

Having the same old tired kitchen in a 1978 house?  Size really matters when it comes to kitchens — the bigger the better! Update it with lots of recessed lighting and cherry cabinets, if you can. It won’t be cheap, but it will be a great investment.

Paint, Paint, Paint

Don’t be afraid of paint. So fight your fear of commitment, and add a splash of color. It is one of the easiest and inexpensive things to do to dramatically change the look of your home.  Simply find your perfect color for every room.

Focus on furniture

Why not focus on buying high-quality furniture instead? If you have furniture pieces in good condition and still functional, give them a facelift. Re-upholster a worn-out sofa or strip the paint on an armoire and stain or paint it to make it look new again.  Shop online at HORCHOW

Update your flooring

Still have 70s shag in the living room?   Go ahead and invest in beautiful new floors today.  Everyone love’s walking into a home with newly installed  carpet and flooring.

You can spoil yourself in small ways…whatever it takes remodel, redecorate, upgrade or relocate, you’re covered for the next 10 years

The writing is on the wall – 10 signs your home may be overpriced:

10. You priced along with other comparable properties listed for sale, rather than those that have actually sold.

9. Even though values have fallen all over town and continue to decline, you believe this doesn’t apply to your home.

8. You priced your home based on how much you spent improving it.

7. You priced your home based on the amount you want or need to net from the sale.

6. You believe your house is “unique” and different from all other homes, despite its similarities in size, age, condition and location to other homes. And that “uniqueness” warrants a higher price than all those other homes.

5. You sincerely believe that if you just stay on the market for long enough, eventually that one “right” buyer will come along, fall in love with your house and pay whatever you’re asking.

4. Despite many showings, no one has made an offer on your home.

3. Your home has been on the market for a very long time..6 months or even 12!

2. Your Realtor didn’t agree with your pricing, or worse – the original Realtor wouldn’t list your home at “your” price so you had to search for someone else who would.

1. You are getting NO SHOWINGS. This is the number one sign that your home is overpriced. If its been marketed, but no one is interested in coming inside the market has already rejected your home at its current price.