Home Values Projected to Keep Rising

As we enter the final months of 2020 and continue to work through the challenges this year has brought, some of us wonder what impact continued economic uncertainty could have on home prices. Looking at the big picture, the rules of supply and demand will give us the clearest idea of what is to come.

Due to the undersupply of homes on the market today, there’s upward pressure on prices. Consider simple economics: when there is high demand for an item and a low supply of it, consumers are willing to pay more for that item. That’s what’s hap... Read more

Coming soon to the Sonoma Real Estate Market: A Big Wave of REOs. This was the news in our weekly Monday office meeting. We got word that the Bank of America is planning to introduce about 300 Sonoma County REOs within the next 90 days. We also heard that 30 of the REOs will be Sonoma Valley real estate listings and among them....will be a couple of $2 Million dollar properties.

We currently have 181 residential listings in our market and 14 of those are REOs. You don’t have to be a mathmatician to figure out that the anticipated new REOs would triple our inventory of ba... Read more

If you are an investor looking to invest on a foreclosed property, then you may also want to consider whether to buy the Real Estate Owned property or the pre- foreclosed property that is still owned by the borrower. You may feel that investing on an REO property is a fairer deal as you will be assured with the title to the property and the insurance. Also you will have a security of the old owner not returning to claim back the property.

However, these features are not applicable when you buy a pre foreclosed home! But the real problem you will face when you want to invest on an REO... Read more

Do you own a home which has negative equity and are wondering how this occurred? The answer is simple. Negative equity occurs when you purchase a home using a home loan and the home prices begin to decline due to economic slowdown. The home value now decreases below the value principally on mortgage. This condition is called negative equity. It can be calculated by taking the value of the home, less the balance on the remaining loan.

An important aspect in the performance of home loans in the third quarter of 2009 was the high resale of foreclosures. This came up to one fifth of the t... Read more

It is everyone’s dream in Sacramento to own a home. As home loans are made easily affordable, almost every family has a home of their own. Home loans with low mortgage rates are provided by the government for low income and bad credit people. These loans have interest rates as less as three percent. Consolidation of loans by the government has made repayment much easier. In spite of all these, foreclosures are on the rise.

The major factors that contribute to foreclosures are fall in real estate prices, abundance of unsold homes, inert home sales and mortgage loans going into default... Read more

Certified Distressed Property Expert- Linda Hess

LINDA HESS of GREATWEST GMAC REAL ESTATE, 2235 Douglas Blvd.#520, Roseville, Ca. has earned the prestigious Certified Distressed Property Expert (CDPE) designation, having completed extensive training in foreclosure avoidance and short sales. This is invaluable expertise to offer at a time when the area is ravaged by “distressed” homes in the foreclosure process.


Short sales allow the cash-strapped seller to repay the mortgage at the price that the home sells for, even though it is lower than what is owed on the property.... Read more

Mortgage fraud bills sent to Schwarzenegger

As financial carnage from the housing crash continues across California, state lawmakers have sent several bills that crack down on mortgage fraud to Gov. Arnold Schwarzenegger’s desk.

In recent days, the Assembly and Senate have jointly passed bills to ban loan modification companies from asking for upfront fees and make mortgage brokers put their customers’ financial needs ahead of their own commissions.

They’ve also limited the size of pre-payment penalties and added California to the roster of states ... Read more

Backlash against banks growing over mortgage modifications

James Seeley, a machine shop supervisor at the University of California, Davis, just wants a modified mortgage that he and his wife, Sandi, can better afford.

It’s a common quest in this economy. Seeley’s wages are being cut. His house in Natomas has lost almost half its value. And he owes more than it’s worth, even with a $125,000 down payment in 2006.

"We want to get payments down to 31 percent of our income," said Seeley.

In Curtis Park, Hilary Egan is trying to do the same. He... Read more

A major credit reporting company predicts mortgage delinquency rates will continue rising in the Sacramento area – with 12 percent of homeowners falling at least two months behind on their payments by year’s end.

That’s nearly twice the national projection and a dramatic jump from just two years ago, when less than 2 percent percent of area homeowners’ notes were delinquent.

"California faces some challenges, and that’s reflected in the statistics," said Ezra Becker, director of consulting and strategy at TransUnion, one of the nation’s three lar... Read more

Sacramento-area home sales remain sluggish

By Jim Wasserman
jwasserman@sacbee.com

http://www.sacbee.com/business/story/2130021.html


Sales of existing homes in the Sacramento area climbed 2.6 percent from June to July – far short of the surprising 7.2 percent rise nationally that sent stocks soaring Friday.

A July report showed sales of 3,495 existing homes in Amador, El Dorado, Nevada, Placer, Sacramento, Sutter, Yolo and Yuba counties, according to San Diego-based researcher MDA DataQuick.

Buyers also closed escrow on 320 new homes to pu... Read more

Troubled homeowners wrestle with loan holders

By Kevin G. Hall

http://www.sacbee.com/business/story/2111186.html?storylink=pd

WASHINGTON – Nearly three years into the deepest U.S. housing slump in generations, lenders are modifying only a small number of problem mortgages, and rising foreclosures are restraining the economy’s recovery.

The Obama administration has stepped up pressure on lenders and their mortgage servicers, who act as bill collectors on behalf of investors who own mortgage bonds. The administration on Aug. 4 unveiled the first of what... Read more

July 22 (Bloomberg) -- U.S. home prices had the smallest annual drop in 10 months, signaling the free fall of property values is abating in the three-year housing slump at the center of a global recession.

Prices declined 5.6 percent in May from a year earlier and rose 0.9 from April, the Federal Housing Finance Agency in Washington said today. Economists expected a 0.2 percent drop for the month, according to the median of 16 estimates in a Bloomberg survey.

“We saw a rebound of home prices in some parts of the country in part because the share of distressed sales dipped,”... Read more

Real Estate Sales

Posted: Friday, Jul 24, 2009 - 05:11:08 pm PDT

http://www.cdapress.com/articles/2009/07/24/real_estate/1-real-estate-sales.txt


Email this story Printer friendly version By Press staff and
The Associated Press
Jeff Chiu/Associated Press In this July 21 photo, a home for sale is shown in San Francisco. A real estate group’s report said Thursday, July 23, sales of previously occupied homes rose 3.6 percent from May to June, the third consecutive monthly increase and a sign that a housing recovery is under way in much of the country... Read more