Mapleton in Murrieta, California

Mapleton is a fantastic neighborhood in Murrieta, designed with the ideal homeowner in mind. Feel the breeze of our fantastic weather and what our community has to offer.

Friday, June 27, 2008

20 NEW HOT Foreclosures!!!

Fannie Mae Eliminates "Declining Market" Designation:
Good News Or No Change For Buyers & Sellers??
Remember the lax "fog the mirror" loan qualifying (if you can fog a mirror, you're approved) that helped bring on all the foreclosures? Lenders then over-reacted and required giving up your first born to get a loan, especially with little down. And Fannie Mae, which buys mortgages, slapped a "declining market" designation on California, making borrowers put an additional 5% down on all Fannie loans. Well, last week Fannie ditched the policy. So low down-payment loans should be easy, right? Not so fast. Mortgage insurance companies, which insure lenders against loss on many loans with under 20% down, aren't playing ball. At least not yet.

On the bright side: various non-Fannie loans are still available to owner-occupants w/ -0- down (VA or "Nehemiah"), 3% down (FHA), 5% down (rare conventional), and plenty with 10% down. Call me and I'll put you in touch with our trusted lender.

Proposition 98 Wouldn't Help The Chinese
The California Association of Realtors supports Prop 98 to keep the government from seizing private property for non-public use and to strengthen private property rights. Pass or fail, at least we can put it to a vote. The Chinese, with no such voting rights, could use protections much stronger than Prop 98. Land in China is state-owned and only leased to citizens. Private property rights are so minimal that in 2002, when China wanted to expand the Yangshan deep-water port near Shanghai, they just demolished people's homes and sent protesters off to labor camps. …One more reason we should be thankful we live in the greatest country on earth!

Top 10 Up And Coming World Real Estate Markets
Forbes.com, using Morgan Stanley Capital International's list of emerging markets, forming this top 10. They looked at economic expansion, inflation, individual property rights, access to lending, etc., in world capital cities and business centers. These ten markets are expected to explode in value in the next five years. (For the full story, click here.)

1. Israel
2. Malaysia
3. Peru
4. Chile
5. Thailand
6. Jordan
7. South Africa
8. Morocco
9. Czech Republic
10. Colombia

CHECK OUT MY FREE FORECLOSURE HOT LIST email me: @ dynamicagent@msn.com

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