The average sales price of homes in Yuba City CA for the month of Sep 09 to the month of Nov 09 was $165,000. This shows an increase of 3.1%, or $5,000, from the previous quarter. There was a decline of 6.8% compared to the year 2008. Sales prices have depreciated at a drastic rate of 38.2% during last five years in Yuba City.

It was found that the average list price for a Yuba City home on sale was $266,086, week ending Jan 13th; this is clearly a decline of 1.2%, or $3,107, compared to the decline of 4.7% during the previous week. The price per square foot on an average in Yuba Cit... Read more

The beauty of Elk Grove is the perfect balance of open spaces like the Cosumnes River Preserve and Stone Lake Wildlife Reserve with the business and residential developments. Elk Grove Community has made it a priority to provide parks for the residents and is known for the excellent park management system. Elk Grove offers small homes to ranch estates for sale, giving the city small town feel alongside the growing businesses and amenities of an urban set up.

The population at Elk Grove is diverse, with a wide variety of ethnical groups, income levels and multigenerational families and... 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

Recession’s over, but it doesn’t feel that way in capital area

It looks like the longest U.S. recession since the 1930s is over.

So why doesn’t it feel that way?

After four quarters of shrinking, the nation’s economy – as measured by its gross domestic product – grew 3.5 percent in the third quarter, the Commerce Department reported Thursday.

But the news did little to erase the gloom that has settled over Sacramento’s economic landscape like a thick tule fog.

Local businesses are keeping the umbrellas within arm&rsquo... 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

Great California Garage Sale opening draws thousand in Sacramento


Leila Torres stood with two companions Friday across the street from the huge state surplus goods warehouse in North Natomas and surveyed the long line of people waiting to enter the Great California Garage Sale, Gov. Arnold Schwarzenegger’s latest tactic to raise money for the state budget.

The morning was growing warmer, and the line – which already stretched more than a quarter-mile through a business park of low-rise warehouses – was growing longer. And Torres was reconsidering the appeal of a ch... Read more

Foreclosure filings up sharply over last year

http://www.sacbee.com/business/story/1933547.html

Lenders made a daily average of 203 foreclosure filings against struggling borrowers in El Dorado, Placer, Sacramento and Yolo counties in the past year, according to Santa Ana-based real estate tracker First American CoreLogic.

Borrowers in the region received 74,348 notices, ranging from first warnings to repossessions, from May 2008 to April 2009, the firm said.

That was sharply higher than the 51,307 filings during the same period a year earlier when lenders f... Read more

It isn’t unusual for GreatWest GMAC Real Estate professionals to be approached by home buyers interested in procuring a “fixer-upper” home. Certainly in our current market with many bank-owned homes available, finding such a property shouldn’t be difficult.

However, there are certain things to be considered prior to purchasing that can help safeguard any investment of money, time and effort.

(1) As in all home purchases, it is all about location, location, and location. It is wise to talk with neighbors, who can provide a history of the neighborhood and any problems or nuis... Read more

Many consumers consider selling their home directly but eventually turn to REALTORS®. Smart home sellers realize they need the expertise in pricing their home, making connections with REALTORS® working with buyers, arranging and staffing open houses, and coordinating with other professionals in the sales process.

Only about half of all real estate agents are REALTORS® -- the top half, in our not-so-humble opinion. REALTORS® work independently, for small agencies, or for large brokerages. They help people buy and sell residential or commercial properties, vacation homes, and land; they... Read more

Why Use a REALTOR®


Many consumers consider selling their home directly but eventually turn to REALTORS®. Smart home sellers realize they need the expertise in pricing their home, making connections with REALTORS® working with buyers, arranging and staffing open houses, and coordinating with other professionals in the sales process.

Only about half of all real estate agents are REALTORS® -- the top half, in our not-so-humble opinion. REALTORS® work independently, for small agencies, or for large brokerages. They help people buy and sell residential or commercial propertie... Read more

Monday, March 30, 2009- Posted by Inman News
The facts on FHA-insured loans
The Ups and Downs of FHA: The importance of Federal Housing Administration-insured loans in the home mortgage market has changed markedly over the years. This has been due less to changes in the FHA itself than to changes in the broader market in which it operates.

In the early 1990s, FHA had about 15 percent of the home purchase market. In subsequent years through 2006, FHA lost business to the growing subprime market, which took many borrowers who could have gone FHA. In addition, FHA lost business t... Read more