From: The Mortgage Reports

The government published the 2009 FHA Loan Limits for all 3,141 counties in the United States.  As expected, loan limits will recede from their temporary levels of 2008.

As in 2008, the 2009 FHA loan limits are based on the number of units in the property — from 1-unit to 4-unit:

• 1-unit : $271,050
• 2-unit : $347,000
• 3-unit : $419,400
• 4-unit : $521,250

Now, it’s important to note that the new FHA loan limits only apply to most areas of the country — Hamilton County, Ohio, for example.  But, in other areas — classified as “high cost” areas — the FHA will insure higher loan sizes in 2009 than the 1- to 4-unit figures listed above.

“High cost” areas are calculated using mathematics and typical home prices.

If a county’s median home price multiplied by 1.15 is larger than that FHA loan limit listed above, the product is that county’s new 2009 FHA loan limit, not to exceed $625,500.  In Illinois, therefore, high cost areas include Cook County and the collar counties, and in Ohio, it includes Franklin County.

And don’t worry about doing the math yourself — you can download this county-by-county PDF of 2009 FHA Loan Limits as a good reference point.  Plus, it has my contact information for when you have questions.

HarperMees & Associates can help you with all of your San Francisco Bay Area real estate purchases. Contact Paul for more information (925) 963-4246

Here are the latest statistics for short sales, foreclosures and bank owned properties in California’s East Bay area - Alameda & Contra Costa counties.

I was in Brentwood a few days ago looking at 40 homes for an investor group that wants to purchase up to 100 bank owned properties in Contra Costa county over the next year. 20 of the homes met the criteria and I will be submitting offers on several of them this week.

We have identified several areas in Antioch and Brentwood, California that represent great potential for investors.

HarperMees & Associates can help you with all of your San Francisco Bay Area real estate purchases. Contact Paul for more information (925) 963-4246

This post is from Dan Green one of the smartest mortgage guys we know - The Mortgage Reports

When foreign national buyers consider investing in U.S. real estate, they often focus on projects set to deliver 2-4 years out as opposed to projects that are ready to deliver today.

Considering the path of the world’s economy , this long-term investment strategy may be a bit short-sighted.  For non-U.S. citizens wanting to buying investment property in the United States, there are 3 excellent reasons to consider buying property now instead of at some vaguely-defined point in the future.

By themselves, each point holds it own merit.  Combined, however, the rationale is even more logical.

Reason #1: Home prices in the United States are relatively low

Buying in the Chicago Spire for 2012 delivery may be a sound long-term investment, but a lot can change in the marketplace before 2012Actually, I should qualify that statement.

Versus their 2007 levels, home prices aren’t low everywhere, but for condos, condotels, and other units built specifically for real estate investors, there’s a combination of excess supply and eager sellers that may be too good to pass up.

And when I say “condos”, I’m not referring to new construction set to deliver in 2012 — like the Chicago Spire, for example.

Instead, I’m talking about finished condo projects in places like Florida, Las Vegas, Chicago, and Manhattan that are online now, lingering unsold and dragging on developer balance sheets.

Sure, you can get a good deal at Lincoln Park 2520, but you could get an amazing deal on a ready-to-deliver condo instead.  The year-end is looming and developers are itching to get finished inventory off the books.  And that may be the biggest understatement of the year.

Capitalizing on the down-trodden U.S. real estate market is a popular reason for international investors to buy condos in the United States.  Because the year is winding down and excess supply is clogging developer pipelines, this is a terrific time to make a deal.

Reason #2: The U.S. Dollar is running wild over the Euro, Pound, and others

As the U.S. Dollar has strengthened since July, foreign national investors have profited handsomelyFor international buyers of U.S. real estate, there are two ways to make a profit.

The first is to profit from the property appreciation on the investment unit itself.  This is the form of profit that most investors talk about with respect to “buying in a down market”.

The lesser-known method is via currency appreciation.

Currency appreciation happens when the dollars applied to a downpayment on a home gain value from changes in foreign exchange markets and currency conversion rates.

As the U.S. Dollar has strengthened since July, for example, foreign national investors have profited handsomely.

What a hypothetical 100,000 downpayment made on July 1, 2008 would be worth today in 4 popular currencies:

* Euros: €100,000 downpayment is now worth €114,201, a 14.2% gain
* Pounds: A £100,000 downpayment made now worth £112,343, a 12.3% gain
* Canadian Dollars: $100,000 downpayment is now worth $105,821, a 5.8% gain
* Australian Dollars: $100,000 downpayment is now worth $123,021, a 23.0% gain

These are monstrous amounts of currency appreciation over just a 90-day period and the U.S. dollar is expected to extend these gains through 2009 as the global economy and world currencies sputter.

Currency appreciation can be more profitable that equity appreciation and that’s the second reason why international investors may want to buy U.S. real estate before the end of the year.  For every amount that the U.S. dollar appreciates prior to a real estate closing, not only does the cost of a dollar-denominated downpayments increases but currency appreciation is held to a minimum, too.

Reason #3: Foreign national mortgages are still available, despite what you hear

When I talk with international real estate buyers, they’re often genuinely surprised that mortgage money is still available for foreign nationals.  And then, when we talk about new construction condos in Florida, the surprise turns to shock.  After all, everyone else is telling them financing a new construction condo in Miami is impossible — including their real estate developer.

And this bring us to an important point about the foreign national mortgage market.

For years, foreign national lending had been heavily concentrated with just a few lenders, most of whom were well-known banks.  To drive sales, they embarked on “road shows” across Europe, Asia, and South America, talking about their products and the virtues of buying real estate in the U.S.

Today, those lenders have all left the space, creating a giant information void that most people — mortgage brokers included — have wrongfully assumed to mean that foreign national mortgage lending is dead.

I’m happy to report that it’s not.

Sometimes, the hardest part about borrowing money as a foreign national is getting access to quality, timely information. Presumably, that’s how you found this Web site to begin with (and why you’re still reading).

Foreign national mortgage information on which you can rely:

1. Foreign national mortgages are still available in the United States
2. Downpayment requirements are low — 10 or 20 percent, depending
3. Interest rates are reasonable and are not “monthly adjusting”
4. There’s no forbidden property types — condo, condotels, and multi-units are all okay

And it’s when I give these sort of details that my international clients wonder why every other stateside mortgage guy said foreign national mortgages couldn’t be done.

See, after JP Morgan Chase and Wachovia stopped lending to foreign nationals this summer, most people assumed that the market dried up entirely.  Chase and Wachovia were the last Big Banks standing in the foreign national space and a bevy of small- and medium-sized banks followed their lead.  Only, it didn’t dry up.

To take advantage of the growing foreign national demand, new mortgage lenders entered the fray and are now making common sense decisions on what most people generally believe are a strong set of borrowers.

However, there’s a caveat.  New funding sources are available today, but the lenders reserve the right to change their terms or policies at any time.  And historically, they do.  And, of course, they can always choose to discontinue the product at any time.

And, this is the third reason why foreign nationals should buy before the New Year.

Home prices may rise next year, or they may fall — we can’t predict that.  But, we can predict with near 100% certainty that mortgages will be less available tomorrow than they are today. And that includes foreign national mortgages.

This is a variation on a common theme I cover with the press.

International buyers may want to buy property sooner rather than later because:

1. Developers are willing to negotiate because of the current market climate
2. The U.S. Dollar is poised for gains, rendering downpayments “more expensive”
3. The U.S. mortgage market will not exist in its current form in 2012

We know what the market looks like today and we don’t know what it will look like tomorrow.  Therefore, if buying U.S. real estate is part of your overall investment plan, consider moving up your timeframe to some point soon.

And remember, in the U.S., real estate agents are paid by the seller — not the buyer.

HarperMees & Associates can help you with all of your San Francisco Bay Area real estate purchases. Contact Paul for more information (925) 963-4246

Properties are still selling.  During the last seven days there have been 49 pending sales in Danville, Alamo, Blackhawk, Diablo, San Ramon and Walnut Creek.  In just three areas Pleasanton, Dublin and Livermore there have been 48 pending sales.  Contra Costa Association of Realtors statistics in the fourteen areas covered,  from Orinda to San Ramon, for August (the latest available) shows pending sales up 56% for detached homes and up 17% for attached townhouse, condos and duets compared to last August. Foreclosures an short sales continue to be a substantial number of properties selling as many are at bargain prices.

The August home sales figures are in for California and the San Francisco Bay Area. In eastern Contra Costa County, the communities of Antioch, Brentwood and Pittsburg continue to see brisk home sales activity as investors buy up foreclosures.

Brentwood and Antioch California represent some of the best home value deals for investors in California. Positive cash flow scenarios are possible in these communities. Brentwood is a highly desirable comunity because of the high volume of newer homes and the continued development of new infrastructure in the area that began at the height of the husing boom.

Three major transportation projects should see completion in the next 5 years resulting in easier commute times to Antioch and Brentwood. Homes in Antioch and Brentwood are perfect for the investor looking to buy, hold for 5 to 7 years and then sell when the market starts climbing again.

Bay Area Home Sales

California Home Sale Prices

Of the homes sold in August, 46.9 percent were foreclosure resales, up from a revised 44.9 percent in July and 9.4 percent in August a year ago.

The median price paid for a home last month was $301,000, down 5.3 percent from $318,000 for the month before, and down 35.3 percent from $465,000 for August a year ago. Around half the drop in median is due to depreciation, the other half due to shifts in the types of homes selling, and how those homes are financed.

The pace of Bay Area home sales reversed its July uptick and dropped again last month, marking a return to the long-running waiting game that many potential buyers and sellers have been playing for more than a year. Parts of the East Bay are bucking the trend with active bottom-feeding in foreclosure-stressed neighborhoods, a real estate information service reported.

A total of 7,232 new and resale houses and condos were sold in the nine-county Bay Area in August. That was down 4.7 percent from 7,586 in July, and down 0.9 percent from 7,299 in August 2007.

August home sales jumped in Contra Costa and Solano counties as bargain hunters scooped up distressed properties at prices not seen in more than five years. Across the Bay Area, foreclosure resales made up 36.1 percent of all resales last month, up from 33.3 percent in July and 4.4 percent a year ago. The figure represents the percentage of homes resold in August that had been foreclosed on at some point in the prior 12 months.

At the county level, foreclosure resales ranged from 8.6 percent of resales in San Francisco to 61.3 percent in Solano County. In the Bay Area’s other seven counties, August foreclosure resales were as follows: Alameda, 32.5 percent; Contra Costa, 54.4 percent; Marin, 13.5 percent; Napa, 39 percent; Santa Clara, 24.7 percent; San Mateo, 16.6 percent; Sonoma, 41.6 percent.

Investors are scooping up California real estate at a quick pace. Brentwood California had an 18-month inventory of homes for sale in February of 2008. Today, Brentwood’s inventory of homes for sale is around 3 months.

HarperMees & Associates can help you with all of your San Francisco Bay Area real estate purchases. Contact Paul for more information (925) 963-4246

If you own a small plane and plan to relocate here to Wellington Florida you will find many warm and clear days to take off for pleasure or business.

The Aero Club Of Wellington is an exclusive Aeronautical community of about 280 homes all on one acre each. Click here for a market report for Wellington Aero Club.

We sold this beautiful Aero Club home this year and here is a fun and wonderful Hollywood story about this home we sold.

To learn more about the price range of homes in the Aero Club of Wellington please click here.

If your budget does not permit you to buy one of the luxury homes for sale in the Aero Club of Wellington Florida you may be able to buy a home outside of the Aero Club and lease a hanger from someone who lives in the Aero Club who perhaps does not fly any longer. You could buy a home at a great price within 5 minutes of the Aero Club of Wellington Florida.

There are two more aeronautical airpark communities in Palm Beach County:

Antiquers in Delray Beach

Willis Glider Park in Boynton Beach

Florida is one of the leading aeronautical states because of our great weather for flying with over 60 statewide public and private airports. There are also currently a few airparks for sale in the state of Florida. If you are interested in buying an airpark please contact our office for a complete list of airparks for sale in Florida.

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Contact Nestor Gasset and Katerina Gasset, CIPS, Realtors®, International Properties and Investments, Inc. Licensed Realtors® in Florida at 561-753-0135 to list your property for sale or to purchase a property in Wellington, Royal Palm Beach, Loxahatchee, Lake Worth, Hypoluxo Island, Lantana, West Palm Beach and the rest of Palm Beach County Florida and Port St Lucie Florida. We are accepting referrals.

Call us today at 561.753.0135 or Toll Free 800.444.3316. Contact us by email if you prefer by clicking on email me on the right side of this page under our profile.

To view all the Wellington Florida Luxury Homes For Sale Click here and then click on Search For Homes We know Palm Beach County and St Lucie Country; we will help you get your home Sold if you need to Sell your home and help you buy your Wellington Home or Land ; call us today.

Disclaimer:The information provided herein is supplied by several sources and is subject to change without notice. Wellington Homes Blog does not guarantee or is any way responsible for its accuracy, and provides said information without warranties of any kind, either express or implied. Entries on Wellington Homes Blog represent the opinions and ideas of the author(s). Wellington Homes Blog does not express the views of International Properties and Investments, Inc or those of the broker.

P.S. If you are listing your home as a short sale in Palm Beach County Florida and Port St Lucie Florida make sure you hire an agent who knows how to do short sales and has the experience to get the job done. We are doing successful short sale packages. Call us at 561-753-0135 to find out more about Palm Beach County Short Sales and Port St Lucie Short Sales.

Copyright © 2008 By Katerina Gasset, All Rights Reserved.* Aeronautical Communities In South Florida*

25% of all International real estate purchases are in the state of Florida. One out of every 4 US real estate purchases by International buyers is taking place right here in the beautiful sunny state of Florida.

South Florida is home to sunshine, warm weather, gorgeous beaches and people from around the world. Florida is easy to get to from most countries in the world. We have convenient airports with flights leaving to Europe and South America daily. You can conduct your business from most South Florida cities such as Miami, South Beach, Fort Lauderdale, Boca Raton, West Palm Beach, Wellington, Jupiter, Palm Beach and Port St Lucie Florida.

You can choose from a beach front luxury property to a grand equestrian estate in Wellington Florida and everything in between.

Perhaps a penthouse condo is more your preference or you are an investor who is seeking to purchase multiple units in the South Florida area for rentals or business ventures. There are many areas in South Florida where you can purchase foreclosures and homes and properties at a discount.

Purchasing real estate in South Florida is easy for International buyers. We have contacts from Immigration attorneys to translators.  Please make sure to find a Realtor in the state of Florida who will assist you in your purchase and represent your interests. Please call Nestor Gasset and Katerina Gasset for further questions regarding purchasing real estate in Florida at 1-561-753-0135.

Contact Nestor Gasset and Katerina Gasset, CIPS, Realtors®, International Properties and Investments, Inc. Licensed Realtors® in Florida at 561-753-0135 to list your property for sale or to purchase a property in Wellington, Royal Palm Beach, Loxahatchee, Lake Worth, Hypoluxo Island, Lantana, West Palm Beach and the rest of Palm Beach County Florida and Port St Lucie Florida. We are accepting referrals.

To view all the South Florida Luxury Homes For Sale Click here and then click on Search For Homes We know Palm Beach County and St Lucie Country; we will help you get your home Sold if you need to Sell your home and help you buy your South Florida  Home or Land ; call us today.

Where;s the best place to buy U.S. real estate right now? When you want to get the best deal, look to where the biggest problems are. California, Florida and Arizona accounted for more than half of current foreclosures in the United States.

This doesn’t mean that you can only find good deals in these three states, but it could mean that there are more good deals to be had than in other states.

This week’s meltdown on Wall Street is creating even better opportunities for home buyers and investors. Mortgage rates are dropping as investors pull money out of stocks and invest in bonds. Banks are continuing to tighten lending guidelines.

Cash  is King - banks need to get these properties off their balance sheets. A buyer or investor walking in the door with cash to buy is the most important client that bank will see all day.

Tighter Lending Standards reduce the competition. As Americans struggle with getting their credit problems under control, the door is open for foreign buyers to sweep up all the really good real estate deals. If you are buying property for investment, plan on holding it a minimum of 2 years - 5 to 7 years would probably bring better returns. The husing rental markets in many locations are such that positive cash flow is possible from the begining.

HarperMees & Associates can help you with buying real estate in Northern California. We can also help you locate an experienced, reliable professional Realtor in any part of the U.S. or Canada.

As the Assessor of Contra Costa County since 1995 and a student of the real estate market of the East Bay since 1971, I’ve never felt more compelled and stronger about advising anyone and everyone who ever thought about getting into real estate to do it now. – Gus Kramer

Time to Invest in East Bay Real Estate

Buying a house for under $300K with today’s interest rates and soaring rental rates at a premium due to foreclosures creates positive cash flow opportunities – very rare for California real estate in the last 20 years.

Our team of Realtors at Harper Mees and Associates is ready to help you buy your next home. Give Craig a call at (925) 984 4910 to get more information or to schedule an appointment; you can also email him at Craig@HarperMees.com