Rent prices across California have climbed to historic levels, and Humboldt County is no exception. For prospective buyers in areas like Eureka, CA, the high cost of renting a home is becoming harder to justify. Monthly rents now rival or even exceed what a mortgage payment might be for comparable properties. This shift has made owning a home more financially appealing than ever.

In communities such as Arcata and Fortuna, the rental market is extremely tight, with high demand and limited availability. Many renters find themselves renewing leases at increased rates year after year, wit... Read more

In today’s real estate market, homebuyers often face challenges with rising mortgage rates and affordability. One financing strategy gaining popularity is the seller buydown. A seller buydown occurs when the seller of a property contributes funds to reduce the buyer’s mortgage interest rate for a set period or the entire life of the loan. This contribution is typically paid upfront at closing and credited toward the buyer’s mortgage, making the loan more affordable. For many buyers, this is the difference between being priced out of the market and comfortably affording a new home.

The... Read more

As the year draws to a close, many potential homebuyers in California begin weighing the financial impact of purchasing property before December 31. Buying a home in the fall can unlock valuable tax benefits that provide immediate financial relief. For instance, closing on a property before the year ends allows buyers to deduct mortgage interest, property taxes, and in some cases, mortgage insurance premiums from their taxable income. This can lower your tax liability for the current year, giving you a head start on building wealth through real estate.

In markets like Humboldt County,... Read more

We’re currently experiencing historically low mortgage rates. Over the last fifty years, the average on a Freddie Mac 30-year fixed-rate mortgage has been 7.76%. Today, that rate is 2.81%. Flocks of homebuyers have been taking advantage of these remarkably low rates over the last twelve months. However, there’s no guarantee rates will remain this low much longer.

Whenever we try to forecast mortgage rates, we should consider the advice of Mark Fleming, Chief Economist at First American:

“You know, the fallacy of economic forecasting is don’t ever try and forecast intere... Read more

Hi Everyone!
After 14 weeks of education and training I am finally ready to go. And good thing to because I already have a listing. 208 Melwood is a great property, especially for an investor. It has 4 bedrooms and 2 full baths. It has been rented for an average of $850 a month, and at today’s historically low interest rates that means a nice return on investment.
I’ll be back later with some tips for 1st time homebuyers!

Thanks,

Kyle... Read more

Sold

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Let’s all hope this bill passes. It will continue to spur the economic and real estate recovery.

WASHINGTON — Buying a home is about to get cheaper for a whole new crop of homebuyers — $6,500 cheaper.

First-time homebuyers have been getting tax credits of up to $8,000 since January as part of the economic stimulus package. But with that program scheduled to expire at the end of November, the Senate voted 98-0 Wednesday to extend and expand the tax credit to include buyers who already own homes. The House is expected to vote on the bill Thursday. Buyers who have owned their c... 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

Real Estate - A Great Long Term Investment

GreatWest GMAC Real Estate professionals know real estate is a good long-term investment. Although home values have stalled or experienced decline in recent years, longer snapshots in time have proved real estate to be a fantastic investment.

Let’s consider one scenario provided by a real estate professional. If someone were fortunate enough to buy a home even in 2002 and paid $500,000. If they put 20% down, there mortgage was $400,000. That home went all the way up to $800,000 in 2005 and is now only worth $560,000. They likely ref... Read more

Home Front: Quarterly home sales worst yet for Sacramento area

Sacramento-area home builders just keep singing the blues.

July, August and September brought their worst quarter yet in this long housing crash: just 616 sales in El Dorado, Placer, Sacramento, Sutter, Yolo and Yuba counties, the Folsom-based Gregory Group reports today.

Actually, nearly all the region’s sales were in Placer and Sacramento counties alone. The suburban cities of Placer County accounted for 44 percent of third-quarter sales of new homes in the region. Sacramento County’s outer... Read more

California bill would extend tax credit on new homes

A popular state tax credit of up to $10,000 that helped sell hundreds of new houses throughout the Sacramento region earlier this year appears to be coming back.

A plan to extend the state tax credit to another 4,285 buyers of new, unoccupied homes in California – possibly as many as 500 in the capital area – is expected to receive a vote in the Legislature by Friday’s end of the session.

The buyer tax credit began March 1 and unexpectedly sold out by July 2 as many first-time California buyers combined... 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

"We’re in a slow, but definite recovery mode"

http://www.sacbee.com/static/weblogs/real_estate/archives/2009/06/were-in-a-slow.html?mi_atom=Home%20Front


So says Alexis McGee, president of Fair Oaks-based Foreclosures.com, which tracks the nation’s foreclosure markets for real estate investors. Here’s McGee’s new national roundup:


SACRAMENTO, Calif. -While President Obama, Congress, and the American people debate financial regulatory reform, foreclosures continue to mount as embattled housing markets bump along the bottom. ... Read more

Sacramento area misses move-up homebuyers -- they’re staying put

By Jim Wasserman
jwasserman@sacbee.com


http://www.sacbee.com/topstories/story/1959684.html

Almost four years into the real estate crash, a once-thriving sector of the Sacramento-area housing market – the move-up buyer – has become a virtual dead zone that must revive itself for a true recovery to take hold, analysts say.

Even as real estate rocks with enthusiastic first-time buyers and investors – accounting for up to two-thirds of area sales – one expert warns against being f... Read more

El Dorado County rejects some federal stimulus money

By Cathy Locke
clocke@sacbee.com

http://www.sacbee.com/ourregion/story/1945169.html


El Dorado County officials turned down $1.6 million in federal stimulus funds, leaving an ideologically diverse group, including affordable-housing advocates and local contractors, angry and perplexed.

The Board of Supervisors last week twice rejected what staff members described as no-strings-attached funding.

"It’s as close to a no-brainer as I’ve ever seen come before this board," Richard ... Read more

Waiting game on low mortgage rates backfires

By Mark Glover
mglover@sacbee.com


http://www.sacbee.com/business/story/1903523.html


Sacramento-area homeowners and prospective first-time homebuyers might be wondering: Did we miss the boat on mortgage rates?

The short answer from experts is: Probably, but rates are still very attractive.

For 10 weeks, mortgage rates were riding well below 5 percent on 30-year loans, but housing and industry analysts speculated that many first-time homebuyers and homeowners looking to refinance existing mo... Read more