Get What You Pay For?

This morning's Chron features an article about Bay Area homes listed for under $100,000. Thankfully, the article points out that many of these homes will bring headaches to equal the money saved. In truth, buying a home in the greater Bay Area for around $100,000 is probably a pretty smart play, but please talk to us about the pitfalls before you start writing offers. And assuming you don't plan to live in the house, expect to pony up at least 30% down for any non-owner-occupied property these days.

Speaking of financing, our local rag also has a useful article about the current mortgage lending climate. This is a nice reality check. In short, lenders are lending. When you're hearing that it's hard to get a loan, that's primarily a reference to the past few years when nearly anyone could get a home loan. All that's really happened is that lenders have returned to responsible lending practices. What a concept!