As a lender I read various market reports. These reports break the real estate market into various segments and basically come down to units of homes sold over a given time period. These segments include “new” versus “existing” homes sold, basically the number of homes sold by home builders versus the number of homes sold by their current owner. Across the nation “new” versus “old” is broken down into regional data and then into state data.  

The aggregate national housing data can be broken into ever discrete data points. In addition to new and old units sold, it is possible to break out the number of single family homes sold versus the number of condos, or the number of rental units built versus the number of for sale homes built, this can go on and on. This data is always compared to past results. This month’s data is compared to last month’s data. This year’s data is compared to last year’s data.

What just struck me were a few recent reports that have looked at today’s housing performance and compared it to the number of homes sold during “the housing boom.” This period between 2003 and the middle of 2006 has been called “the go-go years” and “housing’s heyday” in addition to “the housing boom,” which begs the following question to be asked.

If we continue to breakdown the housing data into ever more discrete units until we finally get to the transaction level, would any of the consumers who bought their home during “the boom years” say the got a good deal on their homes?

“The Boom Years” is characterized by the aggregation of transactions. Most of those who handled multiple transactions did very well. At the top of the heap would be homebuilders, then Realtors and mortgage lenders. The experience of the individual buyer is not accurately reflected in a descriptive title for any given market.

This divergence between a descriptive title being applied to market conditions and the experience of the individual applies to today’s housing market. The housing market is generally described as depressed, moribund, or even as a crisis. These are apt descriptions if you happen to be a homebuilder, a supplier of building products, or a land broker. However; for consumers it is possible to say that today’s housing market represents a remarkable opportunity.

Home prices are starting to stabilized after falling as much as 50% over the last few years. If you combine these low home prices with interest rates that are very close to historic lows, the cost of home ownership is lower today than in any time in recent memory.

One of the causalities of “the boom years” was the concept of what our homes should be. Throughout much of this decade our homes became financial instruments that we manipulated for short term financial gain. If you are looking for a house to be a place that can be the long term anchor for a family, to be that old school idea of a home, then today represents a remarkable opportunity to get a good deal. Those who end up buying their home in the next two years will mostly likely look back at that purchase in several years and very happy with the results.

If you have any questions on this entry, or have any questions regarding mortgages, please feel free to contact me.

This article was contributed by: Bob Jones
Mission Hills Mortgage Bankers
(707) 292-0337
rtjones@mhmb.com

First Time Buyer Tax Credit!
Will you miss out on an $8,000 giveaway?

You have about 2.5 months to get in contract to buy a home. The Federal Government extended the $8,000 but you must be in contract by April 30th to be eligible. This is an amazing opportunity to buy a home and get money for doing it!

Can you imagine what you could do with the $8,000? You could set aside for emergencies, remodel the kitchen or bathrooms, take a vacation, etc. This is a great opportunity, but in order to get the $8,000, you need to get moving…literally!
Getting a Mortgage in 2010:

 10 Things to Know
More than three years into a painful housing crash, the real estate market has seen recent signs of stabilization. Home sales have increased, inventory levels are down, and price declines have become less precipitous. Along with more affordable home prices and a tax perk from Uncle Sam, attractive mortgage rates—which remained below 5 percent as of late November—have been a driving force behind this development. The availability of low mortgage rates will play a decisive role in the performance of the 2010 housing market as well. To help consumers better understand the requirements and costs they will face as they shop for a home loan next year, U.S. News spoke with a handful of housing market experts and compiled a list of 10 things to know about getting a mortgage in 2010.

1. Still tight: The steep run-up in home prices during the first half of the decade was fueled in large part by breezy lending standards. Some bankers handed out loans without down payments or documentation requirements. But when the housing bubble popped and those loans became massive losses, banks began raising lending standards for borrowers of all stripes. And with the labor market continuing to erode—the unemployment rate hit 10.2 percent in October—and mortgage delinquency rates setting new records, there is no reason to expect credit requirements to loosen in 2010. “Lending standards have tightened dramatically between 2007 and 2009,” says Scott Stern, CEO of Lenders One, a cooperative of independent mortgage bankers. “I think there will be a little more belt-tightening in 2010.”

2. Down payments: This tight credit environment affects consumers in several ways. First, down payment requirements will be higher than they were just a few years ago. Loans backed by the Federal Housing Administration are at the low end of the spectrum and come with minimum down payments of 3.5 percent. (More on FHA loans below.) Down payments on loans outside of the FHA will vary depending on the market, the borrower, and the property type. “Generally, to get the best rate around, you need at least 20 percent for a down payment,” says Guy Cecala, publisher of Inside Mortgage Finance. “That doesn’t mean you can’t get a mortgage if you have less of a down payment. . . it just means that you are not going to get the best interest rates.” Could lenders ease up on down payment requirements in 2010? Possibly. If lenders become convinced that home prices are improving, they may allow borrowers to put slightly less down. But don’t expect that to occur until the end of the year—if at all.

3. Credit scores: Cecala says that borrowers will need a FICO score of at least 730 to get the best mortgage rates. They also will need to fully document their income and assets. To ensure that your credit score is as strong as possible, borrowers should access their credit reports. The Fair and Accurate Credit Transactions Act entitles consumers to one free credit report from all three major credit reporting bureaus—TransUnion, Equifax, and Experian—each year. (The free reports can be obtained at annualcreditreport.com.) Consumers should examine each report to make sure it doesn’t include any errors. “[Consumers] ought to know what their credit score is; they ought to know what’s on their credit report; they ought to make sure that what’s on their credit report is in fact theirs,” says Rick Allen, director of strategic initiatives for Mortgage Marvel, an online mortgage shopping website. “That’s a must do for everybody.”

4. FHA: Borrowers who can’t meet these tighter lending requirements can turn to the FHA, a federal agency that insures mortgage loans against default. Standards for FHA loans are typically less onerous than those for private lenders. The average credit score for FHA borrowers is about 690, and the minimum down payment is 3.5 percent, Cecala says. “If you can’t make the 730 [credit score] or you can’t make the 20 percent down [payment], the next best thing is FHA,” Cecala says. The downside is that FHA loans come with additional costs. Borrowers must pay an insurance premium as well as a slightly higher interest rate, Cecala says.

5. FHA increase? With so many borrowers unable to meet today’s stricter lending requirements, FHA-backed loans have become increasingly popular. Today, the FHA guarantees nearly 3 of every 10 new home mortgages. That’s a stunning increase from 2006, when the agency backed roughly 3 percent of new home loans. Meanwhile, the agency’s finances have deteriorated considerably. The seasonally adjusted delinquency rate for FHA loans increased from about 13 percent in the third quarter of last year to 14.36 percent in this year’s third quarter. At the same time, the agency’s capital reserve ratio dipped below the level that Congress mandates. In the face of mounting political pressure, the Obama administration has announced new steps that may make it more difficult for some borrowers to obtain mortgages backed by the agency. The steps include raising the minimum FICO score, increasing up-front cash requirements, and possibly charging higher insurance premiums. “We want to ensure that we are able to continue to support the housing market in the short term and provide access to homeownership over the long-term, while minimizing the risk to the American taxpayer,” Housing and Urban Development Secretary Shaun Donovan told a congressional committee in written testimony.

6. Asset purchase program: Mortgage rates in 2010 are expected to climb from 2009’s extremely low levels. After the Federal Reserve announced plans to purchase debt and mortgage-backed securities from Fannie Mae and Freddie Mac last year, rates on 30-year fixed conforming mortgages fell to historic lows, plunging to 4.97 percent in late November from 6.19 a year earlier. But the Fed’s asset purchase program is scheduled to expire at the end of the first quarter of 2010, and a lack of private demand for mortgage-backed securities could lead to higher rates. Keep in mind that the Fed has already extended this program once. And if it appears that the market needs additional government support to keep rates low, the Fed could always decide to remain in the market. Keith Gumbinger of HSH.com expects rates to increase from current levels to between 5 and 5.25 percent by the end of March 2010.

7. Jumbo mortgages: Rates on more expensive home loans—or jumbo mortgages—have dropped to extremely attractive levels, hitting 5.88 percent in the week that ended November 27. “That ranks with all-time bests,” Gumbinger says. But while he expects rates on jumbo mortgages to remain historically attractive throughout 2010, many borrowers won’t be able to obtain them. That’s because most banks have to keep jumbo mortgages on their books and therefore apply much stricter lending standards to them. (Smaller conforming loans can be sold off to Fannie and Freddie.) “Your down payment requirements [for jumbo mortgages] are anywhere between 40 percent down to 20 percent down, depending upon what is happening in your marketplace,” Gumbinger says. “You may have to show superhuman strength in terms of credit, [and] you may have to show extraordinary income size.”

8. Fed rate hike: In attempting to jump-start the economy, the Fed has slashed its benchmark federal funds rate to as low as zero percent. And even as some express concerns about future inflation, the central bank in early November said that economic conditions were “likely to warrant exceptionally low levels of the federal funds rate for an extended period.” As such, economists don’t expect the Fed to raise rates anytime soon. “The statement does not lead us to change our view that the Fed will keep rates unchanged until the September 2010 meeting, when we expect the first rate hike,” Dean Maki of Barclays Capital Research said in a report. But while an increased federal funds rate could push rates on certain products—such as adjustable rate mortgages or home equity lines of credit—higher, it has little direct influence on fixed mortgage rates.

9. Recovery: A recovery in the U.S. economy may also lead to increased mortgage costs. That’s because economic improvement could create more demand for credit, which pushes rates higher. At the same time, a recovery could embolden investors to move money out of ultra safe assets like 10-year treasuries and into more risky investments. And since 30-year fixed mortgage rates tend to track the yield on the 10-year Treasury note, such a development would put upward pressure on mortgage rates. Gumbinger says that economic improvement and other factors could push rates on 30-year fixed mortgages as high as 5.75 percent by midsummer. “After that, you are going to be at the whims of the economy,” he says.

10. Fannie and Freddie’s future: A wild card in the outlook for mortgage rates is the administration’s plans for Fannie and Freddie. The two mortgage finance giants—which buy home loans from banks—are a key source of liquidity for the market. The government-chartered companies have long been controversial, and speculation about their future has been mounting since their shaky finances forced Uncle Sam to take over last year. The administration’s plans for their future—which could include liquidation or converting them to public utilities—could become clearer in early 2010. This decision could have profound implications for mortgage rates, Gumbinger says. “We could have some dislocations in the supply chains with mortgages depending upon how immediate or how gradual the changes to the structures of those companies are,” he says.

Mortgage Rate Update…
Rates moved up and then down and remain unchanged from last week!  Rates moved around as they always do, and were again motivated by disappointing economic information!

Bottom line…rates are great!!! But for how long?

Rates for the week ending 2/12/2010

FHA Loan with a minimum of 3.5% down, for a person buying a personal residence with a FICO score of 620 or better who would be locking for 30 days.
30 Year Fixed Rate 5%   w/5.26 APR

Conventional Loan with a minimum of 10% down, for a person buying a personal residence with a FICO score of 740 or better who is locking for 30 days.
30 Year Fixed Rate 4.875%   w/5.21% APR

Call team “WineCountryMoves.com” today!

Happy buying!

This article was contributed by Dave Raffi, 707-303-2933,  Regional Manager- Mission Hills Mortgage

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Is this a sign that the FHA is now being PROactive instead of REactive? This is not just a sign that the FHA is being proactive, it is definitive proof!

 The Federal Housing Administration announced that in some instances, the FHA will assist troubled borrowers BEFORE they become delinquent or miss payments. All that would need to be proved is that any mortgage payment problems were related to a reduction in income from:

• Job Loss
• Fewer Paid Hours
• Slashed Wages
• Decline In Self Employed Business Earnings.

 FHA Commissioner David Sterns gave a little more insight into the situation with the following statement: “The FHA has always required lenders to establish early contact with delinquent borrowers to discuss the reason for missing a payment and to evaluate reinstatement options. Now servicers will have additional options for those borrowers who seek help before they go delinquent, which increases the likelihood that the borrower will be able to retain their home.”

 You can see from the above quote that the overriding goal for the FHA is to keep borrowers in their home, no matter their circumstances. The FHA has been helping delinquent borrowers modify their loans, now they are planning to help those who will likely become delinquent.

 So what are the remedies that may be available to those who qualify? There are currently only two options that were listed…but these are two very good options.

• Forbearance – Lenders agree to postpone or reduce payments for a specified period of time. Please note that forbearance does not forgive payments, the payments are simply added to the balance of the loan.
• Permanent Payment Reductions – The permanent payment reductions are utilized in more severe cases. This may be done by increasing the length of the loan, reducing the interest rates, forgiving principal owed, or any combination of the three.

 As we stated before, it is clear that the Federal Housing Administration ultimately wants to keep borrowers in their homes, and is giving good options to do just that. The new programs are helping to reduce the chance of future problems.

 Helping people stay in their homes helps keep families intact, and also helps keep Real Estate values higher than they would be otherwise.

 If you have any questions regarding FHA Loans, or anything related to Sonoma County Real Estate, please do not hesitate to contact us

I have done a lot of reading and research, both good and bad. There are a lot of bulls who expect great things from 2010, and there are also a lot of bears who are predicting some not so good news for 2010. I wanted to share some of the factors that will shape our year.

Sonoma County Real Estate 2010

Custom Built Home In Petaluma California

New home construction rebounded in November 2009, from a 6 month low that was recorded in October 2009. The actual numbers came in at an annualized rate of 574,000 units, as compared to Octobers’ woeful 527,000 units. We see any increase as good news, and the November increase was listed as an 8.9% improvement in monthly annualized numbers, a large increase.

 The improvement in new home construction starts was regionalized however. The Northeastern U.S. saw a remarkable 16.4% rise, the Southern U.S. saw a 12.3% rise, the Midwestern U.S. saw a 3.0% rise, and we recorded a 1.9% increase here in the western U.S. Again, we will take any improvement, and are happy to see positive numbers.

We, as a nation, are still behind last years numbers. November 2008 recorded 655,000 new construction starts…we are 12.4% short of that number. Again, I will reiterate, we are happy with any signs of improvement, especially an 8.9% monthly increase in what is traditionally a slow time of the year for construction.

 Is it too soon to start new construction? In many parts of the country you can still purchase a home for less than it costs to build a comparable home; Sonoma County is no exception to this trend. Many of these new home starts are for people who want a specific property that is not on the market, retirees and “moveups” who are looking for their dream home, and even those who cannot seem to find the perfect home listed for sale. We have written about a shortfall of homes on the market in some price ranges, and the new construction may be an outcome of that situation.

 Another reason for the new construction numbers was the extension of the $8,000 tax credit for first time home buyers. Many builders noted that this alone was the reason for many buyers to enter into a contract to build a home, and we are excited that the government had the foresight to extend this important stimulus plan.

 It is fair to note that this new home construction “recovery” is a month to month numbers comparison, and the new home construction numbers are trailing off towards the end of the year, which is typical in the new home construction industry. What happens in 2010 remains to be seen. We will surely post an article with our 2010 Real Estate predictions before the end of the year.

If you have any questions regarding new home construction, or Sonoma County Real Estate in general, please do not hesitate to contact us. We look forward to hearing from you and answering your questions.

This article was contributed by Chris Ingram.

Time For House Hunting

So what is helping the foreclosure filing rate to decline? Some think it could be due to the housing assistance options and foreclosure assistance plan that the U.S. government has put into place. Others think it may be artificially induced by programs in some states where mediation is now required before foreclosure proceedings can begin…only delaying the inevitable foreclosure. It is likely a combination of factors in all reality.
 
Is there any other good news on the horizon? The Case Schiller Index has reported that home prices nationally have increased, albeit slightly, in each of the past 5 months. With the recent increase in home prices, fewer homeowners should be underwater in regards to their mortgage. Also, fewer homeowners are slashing home prices, and their confidence in the housing market is improving. Homeowners feel that worst is behind us, and price cuts are not necessary if they have a little time to wait for the right buyer.
 
So when can we expect a full recovery from the foreclosure crisis? A full recovery will likely not return until the unemployment rate is back at near historic levels. Only when this happens will homeowners be able to afford their monthly mortgage payments, and more new buyers will be able to become homeowners.
 
Are all of the foreclosures spread evenly throughout the country? Unfortunately not, and the levels of pain vary greatly by state. The “sand states” continue to lead the country in terms of foreclosure filings. California, Nevada, Arizona and Florida are the top contributors to the foreclosure problem. Nationally, 1 in every 417 home received a foreclosure filing in November, and the “sand states” had rates anywhere from 1 in 186 to 1 in every 119 homes. It is clear that we, and especially these 4 states, need a lot of help and there is a long way to go.
 
We will look at any signs of improvement in a positive manner, and we certainly think the improvement discussed here is a step in the right direction.
 
If you have any questions about Sonoma County Foreclosures, or Sonoma County Real Estate, please do not hesitate to contact us for the latest news.

 This article was contributed by Chris Ingram.

Will you be buying in 2010?

Are you planning to buy a home in 2010? If so you need to know some important facts. The following are simple tools to insure you get the best deal available.

This advice comes from my 21 years of experience watching people go through the process of buying a home. I have seen people who got amazing deals and others who did not. What are the keys to buying and getting an amazing deal on a home?

Financing – “Buyer’s Cred”
The first thing you need to do in order to get a good deal on a home purchase is get your financing in order. Did you notice I didn’t say go look at homes! If you want a good deal on the house you buy, you have to have “Buyer’s Cred”. If you don’t have your financing in order, you have no credibility as a buyer. No one will accept your offer if it is not accompanied by a letter from a lender that says you are pre-approved for the purchase.

Imagine going out and buying a car without knowing what you can afford in a monthly payment? Oh, you did that? Then you know the pain of building your budget around a payment instead of fitting a payment into your budget. Big difference!

So how do you know what you can afford per month? Let’s say you are paying $1,200 per month in rent. Let’s also say you found out that if you bought a home your monthly cost would be $2,000. Then start putting aside $2,000 a month now.
Pay your rent and then put $800 in your savings account and don’t touch it.

If you can do that for 6 months without going back and needing the $800, then chances are buying a home with a monthly payment $2,000 will be affordable and buying a home will be a successful experience for you.

 Shopping for a home – “Keep it Q”
When you go out to look at homes available, don’t get swept up in the excitement and look at homes you can’t afford. “Keep it Q” or keep it realistic. Why? The simple answer is the homes; you can afford will never look good enough to you again.

Higher priced homes usually have features and qualities that are not available at lower prices. People start to feel they have to settle for the less attractive homes and get discouraged. I don’t care who you are, there is always a nicer home out there.

By keeping it real you will be looking at the appropriate homes and not wasting time. Plus, buyers are often tempted to buy a home of more value and end up with homes they really cannot afford. This can be devastating for people who then build up debt, find themselves making late payments, ruin their credit and eventually lose their home.

So, in the vernacular of our time, today’s tips are develop street cred by getting preapproved and keep it q by keeping it real, so that you have a successful buying experience.
Mortgage Rate Update…
Rates moving up!
Rates moved higher this week! Don’t assume they will stay low forever. Frankly they are going to go up dramatically at some point. The day they go up, some “expert” will put out an article that says they are going down. Why? No one knows when mortgage rates will go up and stay there, especially the experts.

If ever there was a time to make your move it is right now.

Rates for the week ending 12/11/09

• 30 Year Fixed Rate 5%   w/5.24 APR
  This quote below is based on a FHA loan with a minimum of 3.5% down, for a person buying a personal residence with a FICO score of 620 or better who would be locking for 30 days.
•  
  30 Year Fixed Rate 4.875%   w/5.19% APR
  The quote below is based on a Conventional Loan with a minimum of 10% down, for a person buying a personal residence with a FICO score of 740 or better who is locking for 30 days.

Call team “WineCountryMoves.com” today and get started on your piece of the American dream!

Happy buying!

This article was contributed by Dave Raffi, 707-303-2933, Regional Manager, Mission Hills Mortgage.

So since many people took advantage of the $8,000 Homebuyer Tax Credit, we are curious what you spent your Tax Credit on, or what you plan to spend yours on.

Do you plan to take a vacation?

Do you plan to spend it all in Sonoma County?

Do you plan to save it?

Do you plan to spend it on Home Improvements?

Or…have you already spent it knowing it was on its way?

So let us hear your stories of what you spent, or plan to spend your tax credit on…we would love to hear. We may just feature the most interesting story in an upcoming article.

Recently, we have been working with a lot of buyers who are not 100% sure how large of an escrow deposit they should make. There is no right answer, other that when it comes to an escrow deposit, the larger the check, the more likely the seller is to accept the offer, all else equal.

Before we get to our opinion of how large of an escrow deposit to make, let us cover some escrow basics.

So what is an escrow deposit actually? An escrow deposit is legally required, “item” of value, as agreed by both buyer and seller to show the buyers genuine intent of entering into a contract. In general, this has tended to be in the form of money, however, I have read about strange escrow deposits, especially in land or farm transactions, where livestock may be the agreed upon item of value. Anyway, a check is usually the agreed upon form of an escrow deposit.

So now that we know that a check is the typical form of escrow, who should the check be written to?

Escrow Check - Escrow Deposit

The escrow check should be made out to whoever will hold the escrow. Most Real Estate offices no longer keep escrow (there is increased liability with holding escrow, and it can be difficult to calculate daily interest…and most title companies offer the service for free, so why not outsource), so the check is most often made payable to a title company. Your Real Estate agent can help you choose a trusted title company for the transaction.

Now that we have the details out of the way, let us try to dive into the nebulous subject of an opinion…how large of an escrow check to write.

As for the amount of the check, as we said before, the larger the amount of the escrow deposit, the stronger the offer looks, all else equal.

• We suggest a minimum of $1,000 for any escrow check.
• We would suggest that the escrow check be at least 1% of the purchase price if the offer is a market price offer.
• If you plan to write an offer that is below market, it would be in your best interest to write an escrow check for a larger amount, as it shows greater intent, which may balance out the low offer price. A strong escrow deposit would be 3% of the purchase price, and a really strong escrow deposit would be 5% of the purchase price or more. (When I made an offer on my first house in California, it was a hot market in Hermosa Beach, CA, and my escrow deposit was 3%…in the end it was the deciding factor that helped me get in contract)
• We find that the escrow deposit amount generally works inversely with the offer amount relative to market price…the lower your offer is below market price, the larger your escrow deposit should be, and conversely, the higher your offer is above market price, the lower your escrow deposit can be.

Keep in mind, that with any aspect of an offer, the seller may choose to counter that point of negotiation, and may ask for a larger escrow deposit…this is all a part of the negotiating dance.

If you really want to make a serious offer, we also suggest writing in the contract that upon removal of all contingencies, an additional escrow deposit to be made, which will again show much greater intent of purchasing the property.

PLEASE NOTE These Three Additional Items:

• Your escrow deposit should be given to your Real Estate agent when you sign the offer. The escrow will then be put in a safe place (usually an actual safe) and will be deposited after you have an accepted offer.
• The escrow check WILL NOT be deposited unless you are in contract, with your and the seller’s agreement on all terms.
• The escrow deposit is also refundable during your inspection and contingency period. 

We hope this serves as a general guide for escrow deposit and helps you decide how large of an escrow check you should write. There are some general guides for escrow deposits, and your Real Estate professional should be able to help you navigate those, and help you write an offer that will be accepted. Escrow deposit guides are little changed from Sonoma County to other areas, and the purchase price % guides we gave you above seem to hold in others areas we know of around the country.

If you have any questions about the Real Estate escrow process, or Sonoma County Real Estate, please feel free to contact us to help you sort through the details. Happy check writing.

Petaluma Ca Home “Flipper”

1304 San Jose Way - 4 Bedroom Home - Petaluma, California - Sonoma County

Well let’s look into some “real life” examples and scenarios of flipped homes so you can have a better idea of what they are all about.

Scenario 1: 

Home Description: Single Family Home, Built 1986, 3 bed/2bath, 1225 sq ft. purchased for $160,500

Remodel: Floors, granite kitchen counters, lighting fixtures, french doors, interior paint, carpet, landscaping, stainless steel appliances, remodeled bathrooms. Approx. Cost: $20,000-$30,000 (2-4 week job)

Flip Market Price:$270,000-$280,000

Seller Net After Commissions/Remodel: $68,000-$73,000(2 months!)

Scenario 2: 

Home Description: Single Family Home, Built 2002, 3 bed/2.5bath, 1500 sq ft. purchased for $260,100

Remodel: Floors, lighting fixtures, french doors, interior paint, carpet, stainless steel appliances.  Approx. Cost: $15,000-$20,000 (1-3 week job)

Flip Market Price:$315,000-$320,000

Seller Net After Commissions/Remodel: $21,000-$40,000(2 months!)

So after examining both scenarios of an older and a newer flip with Seller net proceeds of $20,000-$73,000 in approximately 2 months can you can see why people are getting into flipping??? It’s a great way to make a little more extra income!

But what kind of properties should you consider to flip? How do you buy a flipped property in Sonoma County? Those questions will be discussed in Part 2 of the To Flip Or Not To Flip blog series.

Stay tuned!