What in the world is"CalHFA" and what it means to First-Time Homebuyers

The CalHFA FHA offers financing up to 96.5% of the purchase price or appraised value whichever is less. To make owning your first home more affordable, down payment and closing cost assistance may be combined with the CalHFA FHA program.

CalHFA is the last of the 100% financing programs available in this market. They offer a 95% loan to value first, and then have two related programs that, if you qualify for them, will pay the other 5% and part of your closing costs. There are also negatives to this program. Their interest rate is higher than FHA and so is their MI (mortgage insurance). But, if you have little or no down payment and good steady income, this may be your way into your first home.

You should also check out the website for properties eligible for the CalHFA Community Stabilization Home Loan Program. This program offers reduced interest rates and other incentives for you. http://www.calhfa.ca.gov/homebuyer/index.htm .

I am currently working with a family who is doing one of these loans to buy their first home. The CalHFA programs becomes a great avenue to the first-time home buyer.

If you are thinking of buying I recommend contacting Linda Thauer with Guild Mortgage in Brea, CA. http://www.loansorangecountyinc.com/ . Guild Mortgage is an Approved Lender who can make this happen for the First-Time Home Buyer.

Their are some awesome buys in today's market in my area of Orange County, CA. Just the other day I listed a 3 Bedroom / 2 Bath Condo for Only $215,000 in Fullerton. Another one of my listings was in Yorba Linda and was listed at $230,000 also for a 3 Bedroom Condo. Wow...If you ever thought that you may not ever be able to own your own home...Think Again! With programs like this, it is possible.

Jodi Salazar
"JoSal"

What is Real Integrity?

We all know that "Integrity" means trustworthiness & honesty, but I feel the true meaning of real integrity goes way beyond this. I was watching an episode of Dr. Phil http://blog.drphil.com/ the other day and he was speaking on what true integrity means; he stated that true meaning of integrity is "When you behave in a good way when you don't have too" and "Doing the right thing when nobody is watching, nobody is listening, nobody is making you do it, that is integrity".

This reminds me of a time when I was doing a real estate transaction for family that was buying a home in Brea, CA. We were down to the wire to close this deal and all we needed was final funding approval. This couple was getting a second loan from a private lender from his work to make all this happen. Without this second loan the buyer wouldn't be able to proceed forward. We were just two days from closing and waiting for the funding to come in when the first lender said they wouldn't fund this home till the second private lender raised their interest rate to at least 6% (Crazy I know...they were getting this loan at a great rate of 2%). The private lender absolutely refused to change their rate even though we told them they can revise it after it is done funding. Again they refused and said absolutely not. We were beside ourselves! The loan officer that I was using at that time, said all we have to do is change this on paper and fax it over to the first loan lender to state that the buyer is paying 6%. This would have been as easy as "White Out". I told the loan officer that I wouldn't do this and we would have to find another way to close this transaction. He stated this was the only way or it was going to fall out of escrow. He stated to me that it wouldn't harm anyone but was just a technicality. Again, I said no that I would not change a document even though it was very minor. Other real estate agents may think I am a nut for not doing this, but my faith and integrity wouldn't let me even though I didn't want this to fall through and I loose all my commission (over $10,000). I final had to approach my buyer in regards to all this and being they are a faith believing family, they that felt God was telling them no on this property since this was all happening. Well, I truly thought it was over. Believe it or not, the seller who was actually a very grumpy guy (wouldn't believe he would ever do this), let my buyers take out a second loan through him (seller's financing) and let them pay it back with this other private lender after we closed escrow. I couldn't believe what just happened, but I truly do believe this, that God blesses the people in this world that has real integrity and trusts in Him. " Colossians 3:17 http://bible.cc/colossians/3-17.htm

I hope this helps you know that doing what is right even when no one is looking is always better then any form of deception. Plus it sure helps you sleep better at night.

Jodi Salazar
"JoSal"

Welcome to my new "Just Real' Estate Blog

Hi Everyone,

In this blog I want to write not just about real estate information but what the happenings are in the O.C., helpful tips and tricks of this trade, what happens behind the scenes that a lot of buyers and sellers won't know and lots more. I want to be real with what I have learned in this industry and the people who are in it. A lot of people think that this industry is the "Used Car Salesman" approach, well their is definitely those kind in the business. Everyone says they have integrity and will always cover their clients back but that isn't always the case.

What is integrity? Well here is the true definition of it...

Integrity is a concept of consistency of actions, values, methods, measures, principles, expectations, and outcomes. In ethics, integrity is regarded as the honesty and truthfulness or accuracy of one's actions. Integrity can be regarded as the opposite of hypocrisy,^[1] in that it regards internal consistency as a virtue, and suggests that parties holding apparently conflicting values should account for the discrepancy or alter their beliefs. http://en.wikipedia.org/wiki/Integrity

Ok, with that said; I have agents ask me how can you be so honest in real estate. One just the other day said how I stay in business being so honest if you don't lie occasionally. Wow, I can't believe that actually came out of another agents mouth that I even trusted.

This is my belief; that if you stay true to yourself and your God that you will succeed in all that you do. Has I always say, "I may not be a rich real estate agents doing 10 deals a month, but I sure do sleep good at night". I know their are trustworthy real estate agents in this business, I would just suggest you really look at their testimonials and their track record. Just because they do a lot of real estate transactions doesn't necessarily mean they are the best. Just remember if you are with the agent that lists a ton of homes a month, you may just be another listing to them and will be working with everybody but that agent. I believe most sellers want to go with someone that makes them feel special and gives them personal attention like they are their only listing and will always expect honesty.

Below is a link to how to choose a real estate agent:
http://www.bankrate.com/brm/news/real-estate/picking-agent1a.asp

I hope you enjoyed my very first blog.

Thanks,

Jodi Salazar

"JoSal"