Real Estate Blog

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...

Whether you are a seller or a buyer in the real estate transactions, you must always thing in the long term of the real estate market. There are several factors that can influence tomorrow’s market and you must be prepared for both ups and downs. To sell your home for a profitable price, you must ensure that your house in good condition. This is because, buyers usually look for homes in to which t...

For Mortgages, 620 is The New Magic Number

Near historic low mortgage rates, favorable home prices, and the federal tax credit for first-time home buyers have contributed to home purchases in the past year. However, the onset of the credit crisis, new regulations for home appraisals, and more stringent guidelines for purchases and refinances have resulted in confusion for some potential ...

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 e...

Find The Best Deal On Home Refinancing

http://www.kcra.com/family/19402420/detail.html


(ARA) - Like so many Americans, you may have a balloon mortgage that is coming due or you’ve had an unexpected financial hit such as a large hospital bill or a job loss that has made your current mortgage payments unreasonable. If so, refinancing your mortgage can be a great way to s...

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 ...

Repo business soars as Sacramento area home sales slump

By Jim Wasserman
jwasserman@sacbee.com

http://www.sacbee.com/topstories/story/2002300.html

At the beginning, Alejandro Maybuena lost the Sacramento house he bought in April 2005 for $350,000. At the end, in early 2009, Kim Gish bought it for $109,000.

Stories like this have happened more than 40,000 ...

Home Affordable refi program expanded

Loan-to-value ceiling raised from 105% to 125%
By Inman News, Wednesday, July 1, 2009.

http://www.inman.com/news/2009/07/1/home-affordable-refi-program-expanded

Inman News

Homeowners who are up to 125 percent underwater will be allowed to refinance under the Obama administration’s Home Affordable Refinance Program...

Home Front: Despite programs meant to help, many homeowners still frustrated

By Jim Wasserman
jwasserman@sacbee.com

http://www.sacbee.com/business/story/1978579.html


Day in and day out since 2007, callers who struggle with mortgages throughout the Sacramento region, those who can’t sleep for worrying, who want to stay with houses that have lost $150,00...

Home Front: Lenders’ phones silent as rates rise

By Jim Wasserman
jwasserman@sacbee.com

http://www.sacbee.com/business/story/1940229.html


Mortgage rates, rising quickly from near-historic lows earlier this year, are already having negative consequences in the capital region.

"All of a sudden the phones just stopped ringing," said Michael McGee, ...

Rate-rise threatens economic relapse

http://www.inman.com/buyers-sellers/columnists/loubarnes/rate-rise-threatens-economic-relapse



The economic optimists are still in charge of markets, rates and stocks still rising. However, the divergence is widening between them and those worried about credit and latent weakness. It may take a month or two to figure whose stubbornnes...

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 ...

Fannie Mae and Freddie Mac’s new rules are raising appraisal costs, critics say

http://www.latimes.com/classified/realestate/news/la-fi-harney17-2009may17,0,5903005.story

The rules, intended to improve the accuracy of home valuations, push most large lenders to use third-party appraisal management companies.


Reporting from Washington -- How about this scenario...

Information on the Home Loan Program

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IN THE NEWS:

Effective immediately, Certificates of Eligibility will no longer display a veteran’s date of birth. This change was made to limit the amount of personal data being displayed on Certificates of Elig...

The other morning a GreatWest GMAC Real Estate professional was brainstorming with another Realtor. Both agreed that in addition to helping buyers purchase property, and sellers to sell their homes, they had voluntarily taken up the shield, for helping past clients, friends and family, to stay in their economically challenged homes during these difficult times.

Currently, they were avera...

Co-signing FHA loan has strings attached

REThink Real Estate
By Tara-Nicholle Nelson, Friday, May 15, 2009.

Inman News

http://www.inman.com/buyers-sellers/columnists/tara-nicholle-nelson/co-signing-fha-loan-has-strings-attached


Flickr photo by ethorson.Q: We have income that we are unable to document on our FHA loan application. We need to qualify for ...

ACCORDING TO FANNIE MAE GUIDELINES THERE HAVE BEEN ADJUSTMENTS TO QUALIFY FOR PURCHASING AFTER BANKRUPTCY,DEED IN LIEU OF FORECLOSURE, PRE FORECLOSURE SALES AS FOLLOWS:


New Requirements
Action:Bankruptcy (All Except Chapter 13)
4-year time period from discharge date
The 4-year time period remains the same but will now be applied from either the discharge or dismissal date...

ACCORDING TO FANNIE MAE GUIDELINES THERE HAVE BEEN ADJUSTMENTS TO QUALIFY FOR PURCHASING AFTER BANKRUPTCY,DEED IN LIEU OF FORECLOSURE, PRE FORECLOSURE SALES AS FOLLOWS:


New Requirements
Action:Bankruptcy (All Except Chapter 13)
4-year time period from discharge date
The 4-year time period remains the same but will now be applied from either the discharge or dismissal date...

ACCORDING TO FANNIE MAE GUIDELINES THERE HAVE BEEN ADJUSTMENTS TO QUALIFY FOR PURCHASING AFTER BANKRUPTCY,DEED IN LIEU OF FORECLOSURE, PRE FORECLOSURE SALES AS FOLLOWS:


New Requirements
Action:Bankruptcy (All Except Chapter 13)
4-year time period from discharge date
The 4-year time period remains the same but will now be applied from either the discharge or dismissal date...

ACCORDING TO FANNIE MAE GUIDELINES THERE HAVE BEEN ADJUSTMENTS TO QUALIFY FOR PURCHASING AFTER BANKRUPTCY,DEED IN LIEU OF FORECLOSURE, PRE FORECLOSURE SALES AS FOLLOWS:


New Requirements
Action:Bankruptcy (All Except Chapter 13)
4-year time period from discharge date
The 4-year time period remains the same but will now be applied from either the discharge or dismissal date...

A Record Low for Mortgage Rates, Again

Just one week after 30-year mortgage rates fell to a record low of 4.85 percent, the average dropped even further to 4.78 percent this week, Freddie Mac reported.

Refinancing activity has picked up because of the low rates, and the Mortgage Bankers Association says approximately 80 percent of mortgage applications came from borrowers seeki...

A Record Low for Mortgage Rates, Again

Just one week after 30-year mortgage rates fell to a record low of 4.85 percent, the average dropped even further to 4.78 percent this week, Freddie Mac reported.

Refinancing activity has picked up because of the low rates, and the Mortgage Bankers Association says approximately 80 percent of mortgage applications came from borrowers seeki...

A Record Low for Mortgage Rates, Again

Just one week after 30-year mortgage rates fell to a record low of 4.85 percent, the average dropped even further to 4.78 percent this week, Freddie Mac reported.

Refinancing activity has picked up because of the low rates, and the Mortgage Bankers Association says approximately 80 percent of mortgage applications came from borrowers seeki...

Recently GreatWest GMAC Professionals, are hearing from many homeowners who have found themseves in a situation they would never have dreamed of a few years ago. They had purchased their homes in good faith, and had stayed current on payments, and they managed to keep their jobs. BUT, because of declining home values brought on by the current housing crisis, they are unable to refinance and take...

You or someone you know can benefit from the Mortgage Stimulus/Refinance Program and avoid foreclosure! Whether you want to modify your existing loan or work through the short sale process, I can help! The most important thing is for you to understand the many options available besides allowing a foreclosure sale to ruin your credit. Call or email me today for more information. Remember! You don&r...

Obama: Aid 9 million homeowners Wide-ranging $75 billion plan will use government money to subsidize rates and insure servicers against falling home prices.

By Tami Luhby, CNNMoney.com senior writer
Last Updated: February 18, 2009: 10:05 AM ET

NEW YORK (CNNMoney.com) -- President Obama is
unveiling a $75 billion multi-pronged plan Wednesday that seeks to help up to 9 mill...

It happened again this week. A GreatWest GMAC Professional received a call from an old friend, to say she and her husband were having difficulties with their mortgage(s), and were a little upside down on their home. They didn’t quite know what to do about it.

Real Estate Agents have increasingly seen this scenario - Homeowners who are in deep trouble because they either are in hom...

It appears Congress has passed a housing rescue bill today hopefully saving 400,000 struggling homeowners from foreclosure. Although President Bush had originally threatened to veto such a bill, it appears he is expected to sign this measure quickly.

The legislation was passed by the Senate vote of 72-13.

Homeowners, who are unable to afford their current monthly payments will ...

It appears Congress has passed a housing rescue bill today hopefully saving 400,000 struggling homeowners from foreclosure. Although President Bush had originally threatened to veto such a bill, it appears he is expected to sign this measure quickly.

The legislation was passed by the Senate vote of 72-13.

Homeowners, who are unable to afford their current monthly payments will ...

The affordability index for May of 2008 is out and across the county real estate affordability rose to 14% with Arcata in at 16%, Fortuna up to 26%, Eureka to 19%, and Mckinleyville at 8%. There continues to be a goog buyers market with many homes to choose from and excellent mortgage rates. Historically mortgage rates rise just after national elections, therefor the best buying window is define...

Swanepoel speaks out

RISMEDIA, August 13, 2007–The public media this past week headlined the apparent surprise “mortgage meltdown” as many reported the filing for bankruptcy protection by the nation’s 10th-largest residential financer; American Home Mortgage Investment Corp., Melville, New York. Real estate, contradictory to its glamorous profile a year or two ago, was again headlined but...

Statistics released Tuesday showed the number of area homeowners missing at least two monthly mortgage payments reached record levels during April, May and June. The number of homeowners ultimately losing their residences to banks also surged.

The second-quarter numbers were stark for the state as well. DataQuick Information Systems reported that 53,943 homeowners -- the highest in 10 y...

Both notices of default, the first sign that homeowners are having trouble making payments, and foreclosures reached historic highs across much of the Sacramento area during first quarter reported Sami Siddiqui, President of GreatWest GMAC Real Estate.

The statistics are the newest indication of stress in one of California’s most troubled major housing markets. They come as spring s...