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Tuesday, September 2, 2008
Foreclosures Continue to Raise Spectre Over Area Home Market
According to a Sacramento Bee article written by Tony Bizjak on Sunday, the Sacramento area is still being hammered by foreclosures. According to Realtytrac, Inc., data demonstrates that one in every 145 households in Sacramento, El Dorado and Placer counties faced foreclosure in July. That represents 5,290 properties.
The percentage of foreclosures nationally were up 55% over July of last year.
The article goes on to mention that mortgage experts do not foresee any relief in the numbers of home foreclosures anytime soon.
The Sacramento Bee article is linked below:... Read more
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Tuesday, August 26, 2008
California's Falling Home Prices Spark Increased Number of Sales
The California Association of Realtors reported today, that California’s free-falling home prices sparked a fourth straight month of year-over-year sales gains during July.
Jim Wasserman of The Sacramento Bee, has a more detailed report on the numbers of state wide home sales statistics in California, and collective California price reduction data.
The article is linked below:
The month of July also demonstrated dramatically increased number of home sales for Sacramento as well - while prices declined for the same time period.
... Read more
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Wednesday, August 20, 2008
Avoiding Scams Surrounding Free Credit Reports
Often when folks are readying themselves to buy homes, one of their first acts of readiness is to obtain their all important credit score. By law, consumer credit reporting companies, Experian, TransUnion, Equifax, are to provide you a free copy of your credit report, once a year, should you request it.
There is a toll-free number, mailing address, and a central website (listed below), which you can reach these the three companies mentioned above.
It should also been known there are companies that claim to provide this free service. However, there is also and high incidence o... Read more
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Wednesday, August 13, 2008
At the Stroke of the Pen
At the stroke of the pen during the President’s recent signing of the Housing and Economic Recovery Act of 2008, opportunity arrived for First Time Buyers. But even beyond that – it is also good news for Sellers of entry-level houses as well. In recent months many folks dwelling in their first homes, had wished they could move up to larger homes, but were thwarted in doing so by a market that wouldn’t easily accommodate the marketing of their present home.
For First Time Buyers, there are incentives and tax saving available. Those who purchase homes between April 9, 2008 and July 1,... Read more
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Tuesday, August 12, 2008
Just A Year Ago!
It was just a year ago that Donald Trump did a segment on Larry King Live, speaking about Selling in an Upside Down Market.
On ABC’s Good Morning America Show today, he was interviewed by Diana Sawyer, and gave this encouraging advice, "Buy now, if you can."
His prediction - That buyers will have the next year for a historical opportunity to purchase homes.
Here’s the link to the video of the segment:
... Read more
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Monday, August 4, 2008
If You Receive a Default Notice
Are you one of the homeowners that fell into an adjustable rate mortgage, and have received a default notice? A word to the wise - do not panic.
Many homeowners panic first and think later. This leads to frustration and conflict, and can result in loss of money. Recent calls from homeowners stating that they fell in to a trap created by
companies, that offer a resolution on their default. Here is what
can happen - you go on the web in search for assistance and enter your information. The phone begins ringing with promises of how they can get the bank to modify your loan bac... Read more
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Wednesday, July 30, 2008
President Signs Important Housing Bill
President Bush signed the housing bill this morning, ending any minor speculation that he in fact would!
It is hoped the action will provide mortgage relief for 400,000 homeowners struggling to retain ownership of their homes. It is also hoped that it will assist in stabilizing financial markets.
As reported by California Association of Realtors and other publications, this bill permanently increases the conforming loan limit to $625,500. In February, the Economic Stimulus Act of 2008 was signed, temporarily raising the conforming loan limit in high-cost areas to $729,750 fro... Read more
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Monday, July 28, 2008
Interesting Resource on the Sacramento Bee Website
The Sacramento Bee has an interesting resource on their website at the web link below.
You can input a zipcode, and receive the demographics for the number of Home sales, population, households, crime and even the weather.
Inputting any of the greater Sacramento area zipcodes, provides informative statistics for the various communities.
Check it out!
... Read more
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Saturday, July 26, 2008
Congress Passes Housing Rescue Bill
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 be able to refinance with more affordable government-backed loans, rather than lose them to foreclosure. Fannie Mae and Freddie Mac will be provided a temporary financial lifeboat by this bill, and i... Read more
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Friday, July 25, 2008
Latest Statistics for 4 Counties - Through June
Here are the latest Sales Statistics for 4 Counties through the month of June (Sacramento, El Dorado, Placer, and Yuba). In most areas, the numbers of sales rose signifiantly over the same month a year ago. However prices have declined.
... Read more
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Saturday, July 19, 2008
How to Best Sell Your Home
Now more than ever before, Sellers are asking GreatWest GMAC Real Estate professionals, “How can I sell my home for the BEST PRICE, in the SHORTEST AMOUNT OF TIME, with the MOST FAVORABLE TERMS?”
It is imperative that the home be PRICED RIGHT. . .from the start!
There are many things that affect the value of a home, and in today’s market it’s even more important to be sure to price your home right.
The ECONOMIC CONDITIONS are one of our biggest factors affecting pricing today, which has an impact on SUPPLY AND DEMAND, but you also need to take into considerati... Read more
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Monday, July 14, 2008
Latest Six Months - Through June
The graph linked below tracks the last 6 months of Listing & Sales data in our local area, It is encouraging to note the numbers of properties listed became reduced, while the numbers of pending sales, and closed escrows has gone up.
Visually, the improvement can be seen. If not a robust market - it surely appears the worst has leveled off, and some improvement is being shown.
... Read more
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Thursday, July 10, 2008
MLS Statistics Through June 2008
Here are the MLS Statistics for June 2008. GreatWest GMAC has added the graph feature. The data is compiled by the Sacramento Association of Realtors:
... Read more
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Wednesday, July 9, 2008
5 Common First-Time Homebuyer Mistakes
5 Common First-Time Homebuyer Mistakes
1. They don’t ask enough questions of their lender and miss out on the best deal.
2. They don’t act quickly enough to make a decision and someone else buys the house.
3. They don’t find the right real estate professional who is willing to help you through the homebuying process.
4. They don’t do enough to make their offer look good to a seller.
5. They don’t think about resale before they buy. The average first-time buyer only stays in a home for four years.
Reprinted with permission from Real Est... Read more
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Wednesday, July 2, 2008
Pictures May be Worth Thousands of Words - But They Don't Replace Real Estate Agents
As many GreatWest GMAC Real Estate clients have learned in the last few years, technology and the Internet has dramatically empowered them in their quest to buy and sell real estate. There is a wealth of websites available, where buyers can conduct their own searches for homes. Many buyers (and sellers too) begin their search, before contacting an agent, and some continue to search, on their own, even while working with a real estate professional.
Internet consumer searches are done in much the same way, as real estate agents. Search parameters (towns, price range, number of bedroo... Read more
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