Friday, June 27, 2008

Grr...

Offers submitted on behalf of buyers within the last few days:

-DOM: 1 / 95827 / Asking Price: $183,500 / Offered Price: $220,000 = 11 total offers / OFFER NOT SELECTED

-DOM: 4 / 95610 / Asking Price: $154,900 / Offered Price: $185,000 = 8 total offers / OFFER NOT SELECTED

-DOM: 14 / 95831 / Asking Price: $415,000 / Offered Price: $405,000 = 3 total offers / COUNTER OFFER STATUS UNKNOWN

Buyer's market? What buyer's market? It seems like every offer I have written in the last few months has been met with competition from other potential buyers.

2 comments:

Anonymous said...

Do you know why Calhfa interest rates are higher than market rates?

erin@erinattardi.com said...

I wish I had an answer to your question...CalHFA is also taking a long time to underwrite their loans. For a long time their rates seemed more in line with conventional financing. CalHFA makes its loans via the sale of tax-exempt bonds. There is an inverse relationship between bond valuation and interest rates, so perhaps one might draw some conclusions from that.

There are many other loan products though - you might look into FHA, PERS (if you are a state employee), VA or Calvet (if you served in the military), First House, etc. I highly recommend contacting Marlena Olson with the Vitek Mortgage Group at 916-486-6900 to explore your options...