Tax Day Delayed

CHIC (PEARL)

When I have a free weekend, I like attending open houses and broker tours to get inspired. I love finding color schemes, design choices, and overall vibes to help our clients not only find a great home but make it their own. And sometimes I use the inspiration to spruce up our own home.

GEEK (Kevin)

Right about now, you’re probably thinking: Kevin’s going to say he worked on a DIY project around the house and helped one of our clients replace their water heater. ANd you’d be half right. I’ll leave it up to you to guess which half. Look for a hint in one of the stories below.

State of the nation

Looking at the national economy, the Fed is ramping up to another 25 bps rate hike at their May meeting, but the job market isn’t feeling the recession burn. Unemployment sits at 3.5%, private payroll is on the rise, and 236K jobs were added in the past month. Meanwhile, interest rates remain unpredictable day to day.

California Dreaming

The Dream For All Shared Appreciation Loan is a down payment assistance program for first-time homebuyers from the California Housing Finance Agency (CALHFA). When you sell or transfer, you repay the original down payment, plus a share of the appreciation in the value of the home. So how can you find your California dream?

CHIC (Pearl)

In order to qualify for the Dream For All program, you need to be a first-time homebuyer, which is defined as someone who has not owned and occupied their own home in the last three years. You also need to occupy the property as a primary residence and complete two levels of homebuyer education. Oh, and your household income can’t exceed $300K.

GEEK (Kevin)

State legislators allocated $300M to this program in the form of 30-year fixed-rate loans starting at 6% with a 1.45% fee. Unfortunately, while we were writing this blog, CALHFA announced that all of the program funds have been claimed as of April 7. Hopefully, additional funding will be allocated in the next state budget. In the meantime, get educated and get ready.