The Fannie Mae has sent out a new update on February 6 2009, to allow the investors to own up to 10 investment properties. Wow! It will start March 1, 2009 to replace to old guide line of 4 properties. In anther words, the investors and 2nd home buyers can purchase up to 10 investment properties. 1). The borrowers has to purchase those invest properties on or after March 1, 2009.2) The Borrowers must maintain a credit score FICO at least 720. The maximum L/V to be 70% to 75%.3). The borrowers cannot did not file the bankruptcy or foreclosure. The borrowers do not delinquencies of 30 days or more within a year.
With the new updates it will be a perfect time to load up investment properties.
1). There are still many REO homes, Short sales and distress sales in
2). The Silicon Valley rental market is still strong. Due to the side effect of foreclosures is climbing that there more renters then ever need to rent. From the rental survey sources of Marcus & Millichap Research Services, Real Facts Online. It is still a landlord’s market.
| County | 2nd quarter, 2007 | 2nd quarter 2008 | Year-over- year change | Vacancy rate |
| $1,337 | $1,409 | 5.4% | 4.7% | |
| Contra Costa | $1,250 | $1,328 | 6.2 | 5.1 |
| Marin | $1,528 | $1,591 | 4.1 | 2.8 |
| $1,264 | $1,307 | 3.4 | 3.7 | |
| $1,757 | $1,926 | 9.6 | 4.0 | |
| $1,654 | $1,786 | 8.0 | 4.1 | |
| $1,569 | $1,679 | 7.0 | 2.7 | |
| Solano | $1,137 | $1,164 | 2.4 | 5.0 |
| $1,140 | $1,212 | 6.3 | 5.5 |
*Buildings with five or more units. Average rent includes units that range from studios to four-bedrooms.
Grace Keng, Silicon Valley real estate agent, member of the Silicon Valley Association of Realtors (SILVAR) and memberships in the National Association of Realtors, (NAR),
the California Association of Realtors, (CAR) and PhD of Realtor - Certified Residential Specialist (CRS).
