Why 2012 Is The Best Time To Buy A House In California

Want to know why 2012 is the best time to buy a house in California? http://www.rmilending.com

0:01 Right before the new year, President Obama signed HR3630, the payroll reduction tax cut bill. The new law will ensure that millions of american's won't see a reduction in their paychecks, the jobless won't see an interruption in their unemployment checks, and medicare doctors will continue to get paid....for the next 2 months. Hey 2012 is beginning to look better already, right? Wrong!
This is all being funded...on the backs of the real estate industry. For the next 10 years, new mortgages through Fannie Mae and Freddie Mac will have an addition 10 "basis points" or the equivilent to an extra $17 per month on a $200k loan, added to them to fund our government's overspending. Yes you heard right, the agencies that received over 150 billion in bailout money and are still in trouble, are being asked to collect money to pay off this 2 month band-aid. Higher interest rates are coming, but early 2012 is still the best time to buy a house in California, so it might be wise to take advantage of these low interest rates you see on your screen. Cause we all know, for the economy to recover, real estate must recover, but the fed seems to keep building barriers to that recovery. Happy New Year from your good old Uncle Sam.

1:24 Actor Wesley Snipes already serving 3 years in the big house for tax evasion is now in trouble again. (Quote) and you can put a credit card in his hands, and that don't mean you're gonna get paid back. Snipes is being sued by American Express claiming he never paid his credit card bill. Apparently he owes $29k, or the equivilent of the gross of his 2005 movie The Marksman. Yeah, I know he knows karate, but he's not going anywhere for another year and half. That's plenty of time for me to move. (Don't steal home).

2:04 According to CNN Money, one in five baby boomer couples have helped their children buy their first home, and more than 68% surveyed expect to provide downpayment assistance to their children or grandchildren in the future to help them buy their first home. FHA mortgages are perfect if you are a parent who wants to help their college student or young adult a small condo or their first home. Guidelines allow for the 3.5% downpayment to come in the form of a gift from parents, and with the ability for closing costs to be paid by the seller and or the bank, 2012 may be the best time to buy a first home. Who's the next person that comes to mind right now that is ready to get their adult children out of their house and into their own? Please forward this video to them, and if you are checking us out for the first time, go ahead and hit the subscribe button and leave us a comment below. Thanks for watching, I'll see you next time.

Category:

News & Politics

Tags:

• best time to buy
• buy a house
• buy a home
• best time
• when should I buy a house
• tax cut bill
• interest rates
• california
• bailout
• freddie mac
• fannie mae
• wesley snipes
• american express
• downpayment assistance
• down payment assistance
• fha
• Down Payment
• rich iacovetta
• rmi lending

[rmivideos]

She was holding me back, so I had to cut her loose and fly solo. LOL.

Actually, since many people find my videos on Youtube and I do loans throughout all of CA, I started leaving out the "live from Santa Clara". Besides it's not live anyway. LOL

[coronaryrn]

I agree...I miss Tina's "Live From Santa Clara!"

[MarkDavidFoster]

Great video!

[cliffkeith]

What happened to "live from santa clara it's facebook friday"? Good show Rich.