One of Ming Tree’s services to Buyers and Sellers is to provide market data. The link here shows the market is balanced in Eureka, with just a slight lean to favor sellers. A very good time to be a buyer as the advantage will move more towards sellers as we move into spring and the full affects of the SoCal fires cause an intra state migration. Interest rates should not be a deterent to move on purchasing as the rates will be very steady around 7%. Ask your lender to add into your mortgage loan the ability to do a simple refi adjustment on rates should we see a decrease. This advice ... Read more

The weekly market update from Mike Simonsen of Altos Research. Today’s highlight is the focus on how Home prices have started to slip in a few states. Here are the highlights of the report:
Mortgage rates have recently surged into the 7% range, contributing to a slowdown in immediate home sales and an increase in price reductions, especially in states like Florida, Arizona, and Texas.
National home prices remain slightly higher compared to last year, but specific states are beginning to see declines.
There’s a significant rise in housing inventory, with a 1.7% increase this w... Read more

Two consecutive solid monthly gains for builder confidence, spurred in part by easing mortgage rates, signal that the housing market may be turning a corner even as builders continue to contend with high construction costs and building material supply chain logjams.
Builder confidence in the market for newly built single-family homes in February rose seven points to 42, according to the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI). This is the strongest reading since September of last year.
With the largest monthly increase for builder sentiment s... Read more

Some Highlights
There are a lot of misconceptions about buying or selling a home today, making it challenging to know exactly how to navigate the current real estate landscape.
Here’s a little clarity when it comes to 5 common myths about the 2021 housing market.
Let’s connect to discuss your needs and so you can decipher facts from fiction in our local market.... Read more

If you’re planning to buy a home, an appraisal is an important step in the process. It’s a professional evaluation of the market value of the home you’d like to buy. In most cases, an appraisal is ordered by the lender to confirm or verify the value of the home prior to lending a buyer money for the purchase. It’s also a different step in the process from a home inspection, which assesses the condition of the home before you finalize the transaction. Here’s the breakdown of each one and why they’re both important when buying a home.

Home Appraisal
The National Association of Realt... Read more

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

In the spring, many excited buyers get ready to enter the housing market. Others continue dreaming about the homes they’d like to buy. The truth is, many potential buyers continue to dream longer than they need to, simply because they’re confused about the homebuying process. Thankfully, working with a trusted real estate professional can help ease those concerns and make the process to homeownership much easier to understand.

A recent survey conducted by Ipson and Freddie Mac reveals the confidence level of Gen Z and Millennial buyers regarding the homebuying process. The graph below... Read more

With the summer moving on, we are moving into the busier season for Real Estate. Visitors that are considering buying are now winding down their vacations and focusing more on Real Estate. This is why we have seen more showings and offers in the past two weeks than in all of July. This has been a typical pattern for many years now.

Sellers are lowering prices in an effort attract those buyers and get an offer. With interest rates so lows and seller motivation high we are seeing a nice third quarter rally.

There is still a lot of inventory which will continue to keep prices do... 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

The Yuba Sutter Area is perfect for a seasoned or first time investor. With many homes available, the variety is vast, from single family homes, to multi-family dwellings as duplexes and apartments, and investor has a large range to choose from. Close to major metropolitan areas as Sacramento, and Chico, and the "road less taken" up to the Sierras, residents enjoy a small town feel, with modern accomodations of larger chain stores.
How to get started:
1. Get educated in the area, the market, and availability
2. Understand terminology REO and Shortsale
3. Decide on your crite... 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

A depression in the economy can cause many home owners to throw up their arms and sell their homes in order to get rid of financial difficulties. But does that mean they can give away their property to a lender only because they cannot afford it anymore! Also those in financial crisis cannot treat their homes as easy to dispose consumer goods. I agree that a real estate investment can also be termed as an illiquid investment. But real estate history has known that selling a home takes much planning and patience for months before a suitable buyer turns up.

The early 1990s saw homes se... Read more