Marc Guzman's West County Blog

Marc Guzman is the Technology Manager and a Broker-Associate at Security Pacific Real Estate (Lic# 01397719) in West Contra Costa County of Northern California. Currently specializing in residential sales in the Bay Area and responsible for over 800 transactions since 2003. To subscribe to my blog, click 'Follow on Tumblr' at the top of the page or sign up for the RSS Feed. For past articles, enjoy the easy navigation in the 'Archives' or use the Search option below. Enjoy!
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Asker Anonymous Asks:
Could you give tips for a first time home buyer? How much should you typically save for the down payment? Are there any programs available?
marcguzmanhomes marcguzmanhomes Said:

The most common loan program is via FHA financing which allows for a 3.5% down payment.  In California, you can also combine FHA financing with a downpayment assistance program through the state which results in the buyer coming out of pocket with only 1% of the purchase price.  So basically $2,000 on a $200,000 purchase.

New office! (Taken with Instagram at Security Pacific Real Estate)

I’ll do your wedding and sell you a house! #realestatebroker #minister #MinisterMarcRealtor #fullservice #onestopshop (Taken with Instagram at Marc Guzman, Real Estate Broker)

Q&A with Marc Guzman #2

Question is based on how soon after a Bankruptcy can an individual qualify to purchase a home.  Watch to find out.

Q&A with Marc Guzman #1.

Question is based on a Short Sale transaction in which the 1st lien holder (Wells Fargo) has countered the buyer and the seller wants to take it upon themselves to change the HUD-1 figures to make the numbers work.  Question was, will it work?

Marc Guzman Guest on Best of Investing Radio Show - KKSF 910AM

Asker Anonymous Asks:
what is considered good credit now? fico? if the credit is not that good, fico of about 650 can you still buy a house?
marcguzmanhomes marcguzmanhomes Said:

Minimum credit score required to purchase is 620.  However, you do want to work on increasing that number as much as possible before you purchase a home.  Currently, the loans being originated have an average borrower FICO score of 720+.  With qualifying at the lower range of credit score requirements, options are limited and you will also pay more in the interest rate and fees.

Work on increasing your credit score as much as possible to help lower your interest rate and fees.  It will be worth it.

Here is an article I wrote last year about this:

Preparing Your Credit Score Can Save You $253/month

Thank you for your question.

Marc Guzman

(Click here to check out first episode)

Why Launch Real Estate Lifestyle

We do A LOT of blogging but all we ever talk about is real estate.  Not that it is a bad thing, we LOVE real estate and that is why we are great at what we do.  The problem we have noticed is as much as people want to know about current real estate topics, it is hard (and at times boring) for many to read article.. after article.. after article.

So we asked YOU our clients, friends and family what you would like to see from a local online TV show.  The response was overwhelmingly the same but not surprising to us.  As Realtors with almost 1,000 transactions under our belt combined we are asked the same questions by our clients every time after they purchase a house:  “So what is there to do nearby?” or “What restaurants do you recommend we try?”  Through our survey of clients, friends and family we discovered that YOU like to discover new places and things to do.

So it hit us like a giant brick!  Let’s launch an online TV show in which we feature two local businesses per week.  We will take it a step further by offering ONLY our viewers special offers and discounts not found anywhere else.  Our goal is to eventually build a strong social community interested in discovering new local businesses and help us grow to fully show what the Bay Area Lifestyle is really about.

What’s in Store for Week One?

La Revolucion (Restaurant) – Our original idea was to feature a few of their appetizers which are outright delicious while doing an interview on the owner’s background.  Well, we promised you fun episodes on our show so instead of an interview we are having a cooking show.  Yes that is right, the owner of La Revolucion will teach you how to prepare two healthy dishes step-by-step – dishes that they prepare themselves for you to dazzle your family and friends!  Make sure to watch for the special offer to La Revolucion or their sister restaurant La Strada.

Redwood Clinic (Dr Jay Sordean) – This will be an interesting episode to not miss.  The Redwood Clinic was established in 1997 in Berkeley, CA and they specialize in natural medicine with an emphasis on Acupuncture.  We will be doing an interview with the Dr Jay Sordean in which he does a live acupuncture demo on Marc Guzman.  Will it be the face?  You must watch.  But either way, watch the episode for the amazing package Dr Jay Sordean has put together only for our viewers.

We are very excited for our initial launch and week one of episodes.  We have several more businesses lined up for the coming weeks.  If you are a business interested in being featured on our show, please contact us.  Or if a viewer has a recommendation of a business to feature, please let us know.

Thank you again for watching!

Asker Anonymous Asks:
hey marc. re the fixer at santa fe, point richmond...1) has a thorough inspection been done to describe the issues? 2) also an estimate? 3) what is the owner's situation (e.g. financing etc.)? Thanks.
marcguzmanhomes marcguzmanhomes Said:

The property on 151 Santa Fe Ave is a major fixer.  It is a fourplex and requires approx $200k in foundation repairs.  This would have to be a cash purchase only.  

Marc Guzman

Well it has been a while since I have written an article so I decided I’d write one today.  It seems like the Federal Housing Administration (FHA) is looking to ramp up its Distressed Asset Disposition Program.  Currently the FHA has over 700,000 delinquent loans on its books so to cut down on the backlog they created a program in which they sell mortgages to investors.

Well according to the FHA, the program was a success in its pilot program to sell 2,000 mortgages that now they have decided to ramp up the sales.  Starting in September, the FHA will be selling 5,000 mortgages per quarter.  The new investors will be required to continue efforts in keeping the owner in the property and cannot foreclose for at least six months.  According to the FHA, more options can be provided to distressed homeowners by going this route.  Other options include deeding the property back to the investor in which the previous owner can rent-to-own in three years.

So what do you think?  Is this really a way to help distressed homeowners or another way to sell properties to corporate buyers?  I want to hear your thoughts so please leave a comment below.

Marc Guzman