Michael Deery's (michaeldeery) Blog

  It sure seems likes the lenders are changing their rules now almost every week and making the loan process even more difficult for buyers. Because of all these new changes, many sellers are being very skeptical that a buyer will be able to get their financing approved and close escrow on their ...

Buying and selling flipped properties can be a real pain in this market. For example, did you know that lenders require a 2nd appraisal on flipped properties where the seller is making more than 20% profit within 90 days and is selling to a FHA buyer, and the buyer is not allowed to pay for this ...

Here is a great tip for buyers and especially investors in this market! Cash Recapture after Purchase– with no waiting period! Cash recapture is a nice feature for a borrower or investor who just bought a property and owns it free and clear. Many investors/buyers are paying all cash these days be...

Over 26% of all homes purchased in California last month came from investors, and the median price paid by these investors was $198,000. These are the homes that are being turned around and flipped and sold to first time buyers, and of course most will be using FHA financing. With this in mind, h...

Enough is enough, Fannie Mae needs to be called out on this. We all know how important it is that buyers have good credit to purchase a home these days. But check out the outrageous fees that Fannie Mae is charging buyers with less than "perfect credit" (see below). For example, on a $375k purcha...

A big concern and a question that many buyers have in today's market place is, "if I buy a home today, will it turn out to be a good investment and what type of appreciation will it have over the next few years"? Well that is a tough question to answer, but to help answer that, here is a report f...

There was big news for the housing and interest rate markets this past week when the Federal Reserve announced that "they will be ending their monetary stimulus program called Quantitative Easing or "QE2" on June 30th". So how is this related to the housing market?   Because of the financial cris...