Hugh Lilly Stockton Real Estate

Foreclosures and short sales have affected 100’s of thousands of homeowners in the Stockton, Lodi market as well as the national market.  Yesterday I had Alvin, one of my earlier clients that had done a short sale 31/2 years ago contacted me and asked when he could buy a home again, and he and his lovely wife couldn’t stand living ...

The condition of homes is extremely important and first impressions do count and that goes for short sales. Short sales many times have an advantage over foreclosures because of being in superior condition. Conventional sellers or better known as equity sales recognize when marketing their home that staging and condition are of prime importance, ...

One of the biggest problems we see in a short sale transaction is buyer education. Patience is one of the most important attributes of a buyer considering a short sale and this also includes the buyer’s real estate agent. The buyer’s agent needs to educate the buyer’s expectations on the time frame it takes to get a short sale ...

Searching for a mortgage lender with the right fit is extremely important for the first time homebuyer and for move up buyers. Rates are at an record lows and home values are flat making a perfect environment to purchase a home. Because there are so many mortgage companies out there, mortgage lending has become extremely competitive. By ...

Most sellers don’t realize that one of the advantages of FHA mortgages is that they are assumable. When a seller wants to sell his home, a credit qualified home buyer can assume their FHA loan which is an advantage when they sell because when you assume a mortgage, the terms and interest rate remain the same. This means an interest rate ...

The FHA mortgage loan program is serving Stockton home buyers giving them the opportunity to purchase homes with as little as 3.5% down and record low home loan interest rates. It is one of the loans that serve first time home buyers and move up buyers. Recently loan limits were increased at their upper end to $400,000 plus in Stockton and ...

Low mortgage rates likely to continue through 2012The mortgage market did not live up to predictions from the experts for 2011. Record low interest rates for mortgages are the lowest in 40 years, but very few potential homebuyers took advantage of these rates and record low prices for homes in Stockton and nationwide. There is a great deal of ...

Short Sales Can Benefit You When It’s time to Buy a New Home: Recently Fannie Mae has adopted policies loans associated to the time that is necessary before borrowers can show they have reestablished a satisfactory credit history after a short sale or foreclosure.Foreclosure: At this time Fannie Mae requires 5 to 7 years from completion of a ...

**Please leave a CommentSeller financing is difficult to find but it is out there and we don’t find a lot of this type financing available in Stockton. The seller assists the potential buyer in purchasing the home by lending the buyer either a portion of the amount to be financed or the entire amount. Seller financing can be a good strategy ...

Good news for Stockton Investors and homebuyers, flips are in. For the second year in a row, the Federal Housing Administration is extending a temporary waiver of its anti-flipping policy, meaning homebuyers using FHA financing for mortgage loans will continue to be able to purchase homes that have closed escrow in the past 90 days. Flips continue ...