Fremont Real Estate Blog

This last week I've written 4 offers and take one new listing. One home we bid on got 20 offers, another 7. Both of these were REOs selling for higher than list. Another was a relocation and the 4th a lot loan. It's been a busy week.

I was in a number of meetings today but was watching the numbers annoucements on my blackberry that rates got better today. I don't what made the market move so much. The opening price was about .25 to .375 better than the previous day. At the end of the there were a couple of adjustments higher. Let's see what happens. This is all positive for folks with loans less than $417,000 and LTV's less than 80% however if you don't fall into that bucket it wasn't as interesting yet. Looking forward to learning more on how the new "High Balance Conforming which goes to $625,500 will be priced by the banks, and what the guidelines will be if you want t consolidate two existing seasoned loans with that product.

For the 2009, we know the conforming loan limit is $417,000 and we know that the conforming high balance loan limit for most California counties will be $625,500. However what hasn't been announced yet by Fannie and Freddie is what if any rate adjustments there will be for the high balance conforming loans.  A few banks, speculated and started pricing the high balance conforming loans (like Wells Fargo), but its a gamble on good they can predict Fannie/Freddie's behavior.

On Nov. 18, HSBC exited the wholesale lending business. My rep at HSBC was on vacation when the news was announced, and therefore missed the explaination why. obviously they felt it wasn't profitable for them, but what I don't understand, is if they're only originating to sell to Fannie and Freddie, what's the risk given everything today is vanilla.

Next time you clean your fridge also pull it out and clean the coils behind it, you could use 25 percent less energy than a fridge dirty clean coils.

Please take time, make time, to Vote tomorrow. My sister sent me this election fixing video the other day, which I haven't vetted but it looks legit. Though we have little control if elections are fixed please do partake in exit polls, so there are some sanity checks. Also you have to see this disturbing video I received on how cells phones can be used to make popcorn. I plan to test this myself. Best regards, Sunil Sethi