Lenders Loosen as Prices Rise

Lenders Loosen as Prices Rise

Source: The Los Angeles Times via CAR.org

As prices rise, mortgage lenders are making it easier to buy a house

Some prices are rising across the country and mortgage rates, though still historically low, are up since the presidential election.

Simply put, buying a home isn’t easy, especially in high-cost metropolitan areas such as Los Angeles County, where the median price of a home hit $569,000 in June.

But changes in the mortgage industry are afoot, with the goal of loosening some of the strict standards established after the subprime crisis — rules some blame for impeding sales.

“The reality has sunk in that there are buyers out there who will be able to buy homes and make the mortgage payments,” said William E. Brown, the president of the National Assn. of Realtors. The industry is “trying to give them more options to buy a house.”

Government-controlled mortgage giants Fannie Mae and Freddie Mac are paving the way by rolling out new programs to encourage home ownership.

The companies, with their congressional mandate to promote home ownership, don’t originate loans, but purchase mortgages from lenders to keep the market moving. And any changes they make in the underwriting standards for the loans they buy can have a big effect.

Click here to read the FULL STORY on The Los Angeles Times

 

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Source: Terra Firma

Sebastopol Nabs Best Place to Live in Sonoma County

Sebastopol Nabs Best Place to Live in Sonoma County

The secret’s out! Sebastopol is the Best Place to Live in Sonoma County!

According to Niche.com, a Pittsburgh-based data analysis website that ranks places to live, schools and colleges. Petaluma, Healdsburg, Graton and Windsor round out the top five. Click here for the complete article

Whether it’s the well-respected schools, the fresh country air, the year-round Farmer’s Market, proximity to the coast, fabulous restaurants and wineries, or the unique culture… we can definitely agree, Sebastopol is more than a city, it’s a community. And it’s clear that many homebuyers feel the same. Sebastopol’s market has been OFF THE CHARTS. So this article really comes as no surprise to Terra Firma Global Partners’ President & Broker, Bill Facendini, who grew up in Sebastopol and currently resides here…

“It pays to live in the best place in Sonoma County or does it? Sebastopol was just given the “Best Places to Live in Sonoma County Award” but with that moniker comes limited inventory for sale and a high demand from people who want to move to a place I am fortunate to call home. Sebastopol has been one of Sonoma County’s best kept secrets for years — as other areas like Sonoma and Healdsburg blossomed with people moving from the Bay Area… but not anymore. As the pressures of the demand from people who also want to call Sebastopol their home continues prices will steadily move upward for years to come.”

 

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Source: Terra Firma

Prestwood Partnership Success

Prestwood Partnership Success

Just as parents are busy buying backpacks, school supplies and new outfits in preparation for “Back to School”… Terra Firma Global Partners is thrilled to announce we closed out the 2016-2017 school year with over $30,000 in donations to Prestwood Elementary as part of our Prestwood Direct partnership!

In their latest school newsletter “Prestwood Connection,” the PTO (Parent Teacher Organization) stated “we are beyond grateful for their continued commitment and contribution to our school and the tangible benefits the funds from this program have provided to our students and educators! If you or someone you know are considering moving or selling please give them a chance to show you just how much they step up to support the relationships they represent!”

In the Fall of 2015, Terra Firma Global Partners entered into the three-year, highly innovative agreement of financial support with Prestwood Elementary School in the City Sonoma. Terra Firma has pledged to donate 10% of every commission earned from a sale/closing in The Prestwood School “Sphere of Influence,” comprised of the Eastside, Carneros and Four Corners neighborhoods in Sonoma.  This partnership, “Prestwood Direct”, is the funding mechanism that generates funds to enable a host of school programs that Prestwood Elementary would otherwise be unable to afford.

Here are a few of the highlights that the Prestwood Direct fund paid for this past year…

  • Maker Lab
  • iPads to support the Coding Program
  • Classroom aides in every classroom for an hour each day
  • New headphones for the computer lab for new state testing
  • Teacher grants for grade level enrichment

Unlike individual Realtor donations and/or sporadic fund raising, this program provides a long- term horizon of funding to the school with the goal of increasing year-over-year donations based on the success of the program and the ability for Prestwood Elementary School and Terra Firma Global Partners to mutually benefit. In consideration for receiving funds from Terra Firma, Prestwood has made a commitment to actively support and promote the company within the Prestwood district and families to engage or refer Terra Firma in the sale or purchase of real estate in the school’s Sphere of Influence.

“Terra Firma is excited to be participating in a very significant way to support our local public schools and community in Sonoma Valley. We look forward to looking for other opportunities to scale this kind of program into other market areas we serve. We are especially proud of our individual associates who have agreed and embraced such a generous commitment from their respective earnings as well. They give our company’s core value of donating “time, talent and treasure” real meaning.” said Heidi Rickerd-Rizzo.

 

 

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Source: Terra Firma