Serving all of California Located in the San Jose area     Is the Real Estate Market Turning Around? We have come through a few rough years for real estate but there are many indications that 2010 will be a better year. Loan guidelines continue to tighten up, yet low interest rates, low home prices and tax credits put buying a home within reach for many who were unable to buy in past years. There are many positive opportunities for buyers: • The high balance conforming loan limit remains at $729,750. Conforming loans are those that qualify under Fannie Mae and Freddie Mac guidelines and have better rates than loans outside of these guidelines.     • The maximum limit for FHA loans, up to $729,750, allows more borrowers with low credit scores and low down payment funds (3.5% in 2009) to qualify for a loan. An FHA loan might be a good option for a refinance if the value of your property has dropped and your equity is slim.   • Lower home values, while a hardship for many current homeowners, have made homes in our area more affordable. An experienced Realtor can help you evaluate the short sales and bank-owned properties on the market.   Refinance loan programs are available at high loan-to-value ratios for Fannie Mae or Freddie Mac loans and FHA loans can be refinanced through a streamline process with lower loan fees.   • Good credit is more important than ever.  Loan programs are credit-driven. To obtain a loan, especially at the best rate and terms, you must have good credit.     Whether you are trying to buy a home or are struggling to hold onto your current home, I offer a free consultation to help you evaluate where you are, where you want to go, and how to get there. I can refer you to an excellent CPA, Realtor or Financial planner, or will work with your support team. The sooner you take action, the sooner you will find out what it takes to achieve your goal in 2009. Contact me to find out more about purchase or refinance loans.