From the Mouth of the Money Man: Interview Part 2

"...guidelines have been changing daily, and banks have been closing weekly."

How does it affect current sellers?

"If a seller is reviewing an offer with a buyer’s pre-approval, it is a good idea to get a second opinion from not only the realtor, but also a loan consultant. As for the buyers, they should call me (chuckles) to get a pre-approval. Sellers should always have the offers with a pre-approval double checked, especially if the offer is less than 10% down.”

Why is that?

“Because many programs that require less than 10% down payment that are no-income qualifying have disappeared in the last month.”

And what is a no income qualifier?

“A no income qualifier is when the lender doesn’t require income verifications such as w2’s, pay stubs or full tax returns.”

Why is it important for buyers to be pre-approved prior to writing an offer?

“Lender approval means a true pre-approval, not a “pre-qualification”. “Pre-qualified” means nothing has been verified, “lender approved” means income and assets have been verified and the loan is pre-approved, the only condition is to find the house and have it appraised.”

Should buyers be afraid to be buying in a market like this?

“Absolutely not. Conforming loans (under $417K) are aggressively priced, and current values are perfect for buyers."

Berkeley's Gourmet Ghetto on YouTube

Berkeley may be known for its political activism, historically significant architecture and year-round gorgeous weather, but I've always felt the world should also know about our serious foodie leanings.

I've discovered a little gem on YouTube that proves someone else feels the same way. We are now on the YouTube map with a short video all about the excellent restaurants just outside my office door. Dangerously close, I say. We all know about Alice Waters' revolutionary kitchen at Chez Panisse, but consider as an alternative a slice of pizza from the Cheese Board Collective. Best enjoyed on the grass median in the middle of the road in front of the collective, this is the true food of the gods and a real North Berkeley neighborhood experience.