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January 2012 - Posts

Saturday, January 21, 2012 11:02 AM

Latest Real Estate Sales and Price Stats

Calif. median home price : December 2011: $285,920 (Source: C.A.R.) Calif. highest median home price by region/county December 2011: Marin: $693,880 (Source: C.A.R.) Calif. lowest median home price by region/county December 2011: Madera: $106,000 (Source:
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Saturday, January 21, 2012 10:58 AM

Fraud Altert: Unexpected IRS refund

If you receive an unsolicited email that appears to be from the IRS requesting that you file a "tax refund request," do not fall victim to this identity theft scheme. Numerous people are receiving unsolicited email informing them that a $9,390.55
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Saturday, January 21, 2012 10:53 AM

California home sales rise in December, posting 11-month sales high

California home sales rose for the third consecutive month in December, marking the highest level since January 2011, according to data from C.A.R. Sales also were up from a year ago, marking the sixth consecutive annual increase. Closed escrow sales
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Saturday, January 21, 2012 10:52 AM

Independent Foreclosure Review process

Homeowners who had a mortgage loan on a primary residence and who believe were financially harmed during the mortgage foreclosure process by GMAC Mortgage, HSBC Finance Corporation, SunTrust Mortgage, or EMC Mortgage in 2009 or 2010 can request an independent
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Saturday, January 21, 2012 10:33 AM

Preparing for Emergencies

Talking Points Living in California, the chances of being in an earthquake are highly likely. That’s why it’s important to prepare for emergencies, as much as possible. When preparing for an earthquake, be sure to stock up at least a three-day
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Saturday, January 21, 2012 10:31 AM

Calif. house price drop 7th biggest in U.S.

The Orange County Register California house prices had the seventh-biggest price drop among U.S. states in November, falling 5.9 percent from year-ago levels, according to data firm CoreLogic Read the full story
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Saturday, January 21, 2012 10:29 AM

Home seizures may jump 25 percent this year

The San Francisco Chronicle Banks may seize more than 1 million U.S. homes this year after legal scrutiny of their foreclosure practices slowed actions against delinquent property owners in 2011, RealtyTrac said. Read the full story
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Saturday, January 21, 2012 10:28 AM

Pay off mortgage early to save money

Paying off a mortgage might sound like an ambitious plan, especially for those who have recently refinanced into a 30-year term. But it’s still smart for homeowners to give some serious thought as to how they’ll pay off their loan; if not
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Saturday, January 21, 2012 10:24 AM

Amid squeeze on home equity, a revival for reverse mortgages

The Wall Street Journal Converting home equity into cash has been a challenge for homeowners since the real-estate downturn, but a growing number of lenders are quietly reviving a loan for seniors that does just that: The reverse mortgage. Read the full
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Saturday, January 21, 2012 10:22 AM

Fed to regularly forecast interest-rate changes

San Francisco Chronicle In a major shift, the Federal Reserve will start announcing four times a year how long it plans to keep short-term interest rates at existing levels, according to minutes from its December policy meeting. Read the full story
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Saturday, January 21, 2012 10:20 AM

Shopping for the best rates

The New York Times I nterest rates are the lowest in decades, enticing many borrowers to shop for a loan. Mortgage lenders adjust their rates based on perceptions of risk, so unless the borrower can show they’re a low-risk individual, the borrower
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Thursday, January 12, 2012 8:24 PM

Freddie Mac extends forbearance to unemployed borrowers

Freddie Mac is giving mortgage servicers expanded authority to provide six months of forbearance to unemployed borrowers without Freddie Mac's prior approval and up to an additional six months with prior approval. This means unemployed borrowers may
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Thursday, January 12, 2012 8:21 PM

U.S. home values flat in November

Home values in the United States were essentially unchanged in November, decreasing a marginal 0.1 percent from October, according to this month's Zillow Real Estate Market Reports. Annually, the Zillow Home Value Index fell 4.6 percent from November
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Thursday, January 12, 2012 8:16 PM

Turning foreclosures into rentals

CNN Money Federal officials hope to launch a pilot program in early 2012 to convert government-owned foreclosures into rental properties. Read the full story Talking Points In coming weeks, federal policy makers could roll out pilot programs to further
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Thursday, January 12, 2012 8:14 PM

New bureau plans close look at nonbank mortgage lenders

The Wall Street Journal The Consumer Financial Protection Bureau Wednesday disclosed key details about how its examiners will size up mortgage companies that aren’t banks but still offer home loans to consumers. Read the full story
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Thursday, January 12, 2012 8:13 PM

State targets property-tax payers

Orange County Register Beginning with the 2012 tax bill (the one due in April 2013), the state Franchise Tax Board will require property owners to break down their property taxes into deductible and non-deductible portions. Read the full story
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Thursday, January 12, 2012 8:10 PM

A good rental history can help borrowers

The New York Times First-time home buyers planning to purchase a house later this year may have a better chance of qualifying for a mortgage if they have had a history of paying their rent on time. Making sense of the story Last year, credit-reporting
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Tuesday, January 10, 2012 8:41 AM

November Stats

Fast Facts Calif. median home price : November 2011: $280,960 (Source: C.A.R.) Calif. highest median home price by region/county November 2011: Marin: $736,410 (Source: C.A.R.) Calif. lowest median home price by region/county November 2011: Madera: $103,330
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Tuesday, January 10, 2012 8:39 AM

Fraud Alert: DRE issues consumer advice

The California Dept. of Real Estate recently issued the following practical advice to prevent consumers from falling victim to a scam: Never pay an upfront fee for loan modification services. Such fees are illegal. Watch out for promises of guaranteed
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Tuesday, January 10, 2012 8:38 AM

Housing taxed to pay for extension of existing tax, Medicare, and unemployment benefits

NAR recently reported on legislation signed into law by President Obama that taxes housing to pay for the extension of the payroll tax, and maintain Medicare payments and unemployment benefits. Despite NAR's strong opposition to the diversion of housing
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Tuesday, January 10, 2012 8:37 AM

U.S. homes set to lose nearly $700 billion in value during 2011

U.S. homes are expected to lose more than $681 billion in value during 2011 – 35 percent less than the $1.1 trillion lost in 2010 – according to analysis of a recent Zillow Real Estate Market Reports. The bulk of the total value lost during
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Tuesday, January 10, 2012 8:35 AM

Recommended Reading: An Inconvenient Truth

The New York Times recently ran an opinion editorial focusing on Fannie Mae and Freddie Mac’s purpose and their impact on the market. In the piece, the author notes that while many believe Fannie Mae and Freddie Mac were “ground zero for the
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Tuesday, January 10, 2012 8:34 AM

Americans ready and willing to buy, but seller sentiment remains negative

A study by the Mortgage Bankers Association shows that prospective home buyers believe that given today’s affordable home prices and low interest rates, now is a good time to buy. However, potential sellers are nearly unanimous in reporting that
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Tuesday, January 10, 2012 8:29 AM

Resolutions Every Homeowner Should Make

When the new year arrives, promises and resolutions abound, but few include home improvement. Here are resolutions every homeowner should make. Cut energy use: Sealing and insulating ductwork can improve the efficiency of a heating and cooling system
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Tuesday, January 10, 2012 8:28 AM

FHA says: Flip that house

CNNMoney In an effort to help stabilize housing prices and unload some of the foreclosures that are flooding low-income communities, the Federal Housing Administration extended a waiver of its anti-flipping regulations through 2012. Read the full stor
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Tuesday, January 10, 2012 8:26 AM

Low mortgage rates likely to continue through 2012, experts say

Los Angeles Times The mortgage market told a sad story throughout 2011: Record low rates, but few people taking advantage of them to buy homes. The likely scenario in the new year, according to many analysts, is more of the same. Read the full story
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Tuesday, January 10, 2012 8:24 AM

Increase in short sales give market a little breathing room

MSNBC It's a tarnished silver lining for people at risk of losing their houses and homeowners in neighborhoods blighted by bank-owned properties, but the robosigning scandal that slowed the foreclosure process to a crawl appears to have increased
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Tuesday, January 10, 2012 8:22 AM

Five issues for housing in 2012

The Wall Street Journal Just as in 2011, in 2012 many will be trying to figure out where housing is headed. While the housing market didn’t worsen in 2011, it also didn’t stabilize either. This year, the story will be about local markets.
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