Lake County Foreclosure / Bank Owned Properties~
Monday, September 28, 2009
LAKE COUNTY Foreclosures
More of the Higher Priced Homes are Selling in Sonoma Co
Did a bit of searching today... and confirmed that many of the buyers who would be looking in Mendocino County are possibly looking in Sonoma County right now... and this may continue until those good deals and distress sales have slowed to a crawl there!
Searching BAREIS for Residential over $700,000 that has sold in both Mendocino and Sonoma Counties for 2008 and 2009 reveals:
25 sold in Mendocino County for 2008 and 586 sold in Sonoma County for 2008
9 sold in Mendocino County for 2009 and 307 sold in Sonoma County for 2009 so far...
What does this tell us? That Mendocino County has seen a 74% reduction in sales, while Sonoma County has only seen a 47.6% reduction. Which means that those buyers seem to be sticking around Sonoma County as opposed to buying in Mendocino County! Until the bank owned and short sales are cleared out in Sonoma County, I expect this to continue for awhile, too...
Friday, September 25, 2009
Mortgage Rate Info
"Daily Real Estate News | September 25, 2009 | Share
Mortgage Rates Hold Steady
The average rate on 30-year, fixed mortgages held at 5.04 percent for the week ended Sept. 24—down from 6.09 percent a year ago, according to Freddie Mac.
Interest on 30-year, fixed loans has declined in the past three weeks, according to Freddie Mac chief economist Frank Nothaft, and the Mortgage Bankers Association reported a 13 percent increase in application volume last week.
Other rates performed as follows:
15-year fixed loans dipped for the week from 4.47 percent to 4.46 percent.
Five-year hybrid adjustable-rate mortgages were flat at 4.51 percent.
One-year ARMs fell from 4.58 percent to 4.52 percent."
Source: Wall Street Journal (09/25/09)
http://www.realtor.org/RMODaily.nsf/pages/News2009092503?OpenDocument
Mortgage Rates Hold Steady
The average rate on 30-year, fixed mortgages held at 5.04 percent for the week ended Sept. 24—down from 6.09 percent a year ago, according to Freddie Mac.
Interest on 30-year, fixed loans has declined in the past three weeks, according to Freddie Mac chief economist Frank Nothaft, and the Mortgage Bankers Association reported a 13 percent increase in application volume last week.
Other rates performed as follows:
15-year fixed loans dipped for the week from 4.47 percent to 4.46 percent.
Five-year hybrid adjustable-rate mortgages were flat at 4.51 percent.
One-year ARMs fell from 4.58 percent to 4.52 percent."
Source: Wall Street Journal (09/25/09)
http://www.realtor.org/RMODaily.nsf/pages/News2009092503?OpenDocument
Thursday, September 24, 2009
Foreclosure Homes coming on another wave...
More Foreclosures on the way...
"Daily Real Estate News | September 24, 2009 | Share
Legal entanglements and well-intentioned home-owner-assistance efforts have slowed the pace of foreclosures, but eventually many of these distressed homes will hit the market anyway.
Some observers say these delays are prolonging the housing crisis and creating a “shadow” inventory that will cause more housing market pain.
"There's going to be a flood [of bank-owned homes] listed for sale at some point," says John Burns, a real-estate consultant based in Irvine, Calif.
Burns believes that when the onslaught hits, it will drive down home prices still further. On average, he expects home prices to fall another 6 percent next year.
Ivy Zelman, CEO of Zelman & Associates research firm, estimates that there are 3 million to 4 million foreclosed homes that will hit the market in the next few years. How traumatic the impact will be depends on whether the flow of homes going up for sale resembles "a fire hose or a garden hose or a drip," she says.
Source: The Wall Street Journal, Ruth Simon and James R. Hagerty (09/23/2009)"
http://www.realtor.org/RMODaily.nsf/pages/News2009092403?OpenDocument
Thursday, September 17, 2009
Building Confidence?
"Daily Real Estate News | September 17, 2009
Builder Confidence Is Building
Home builder confidence in the housing market rose in September for the third month in a row from 18 to 19, which is the highest level since May 2008, according to the monthly index calculated by the National Association of Home Builders and Wells Fargo.
The index hit a low of 8 in January. Any number below 50 is considered negative.
The NAHB credits the first-time home buyer tax credit for this summer’s market improvement, as well as low interest rates and home prices, says Joe Robson, NAHB’s chair.
The index also projects the strength of the market going forward. That measure fell one point in September to 29 because of the expiring tax credit. In a statement, Robson says, “Builders are concerned about what will keep the market moving once the credit is gone.”
Source: Bloomberg, Bob Willis (09/16/2009)"
http://www.realtor.org/RMODaily.nsf/pages/News2009091702?OpenDocument
Builder Confidence Is Building
Home builder confidence in the housing market rose in September for the third month in a row from 18 to 19, which is the highest level since May 2008, according to the monthly index calculated by the National Association of Home Builders and Wells Fargo.
The index hit a low of 8 in January. Any number below 50 is considered negative.
The NAHB credits the first-time home buyer tax credit for this summer’s market improvement, as well as low interest rates and home prices, says Joe Robson, NAHB’s chair.
The index also projects the strength of the market going forward. That measure fell one point in September to 29 because of the expiring tax credit. In a statement, Robson says, “Builders are concerned about what will keep the market moving once the credit is gone.”
Source: Bloomberg, Bob Willis (09/16/2009)"
http://www.realtor.org/RMODaily.nsf/pages/News2009091702?OpenDocument
Coldwell Banker JD Power and Assoc Award
Good to hear! I know that I certainly do try to give the best I can in terms of service, and it' s great that Coldwell Banker in general has a good reputation, too!
Take care,
Karena
"J.D. POWER AND ASSOCIATES RANKS COLDWELL BANKER HIGHEST IN HOME SELLER SATISFACTION
PARSIPPANY, N.J. – Sept. 17, 2009 – Coldwell Banker Real Estate LLC ranked highest among real estate companies in satisfying home sellers according to the recently released J.D. Power and Associates 2009 Home Buyer/Seller StudySM.
“This recognition is a testament to the brand’s legacy as an industry leader, our commitment to innovation and, above all, our powerful network,” said Jim Gillespie, president and CEO of Coldwell Banker Real Estate LLC. “With unsurpassed local knowledge, expertise and work ethic, we at Coldwell Banker have always felt that our network of professionals is the greatest in the industry, and we’re pleased J.D. Power and Associates recognized it.”
The independently administered study measured customer satisfaction of homebuyers and sellers among the largest national real estate firms. The study incorporates more than 3,100 evaluations from 2,801 respondents who bought or sold a home between April 2008 and June 2009. The survey was fielded between April and June 2009.
J.D. Power and Associates examined four factors in the home-selling experience including: agent; marketing; office; and package of additional services. Among home sellers, Coldwell Banker Real Estate ranked highest with a score of 815 and performed particularly well in all four factors.
Coldwell Banker Real Estate also ranked particularly high in the home-buyer segment. The brand ranked second with a score of 801 on a 1,000-point scale, performing particularly well in the office factor.
Complete results for the study can be found here.
About Coldwell Banker®
Since 1906, the Coldwell Banker® organization has been a premier full-service real estate provider. In 2008, Franchise Times magazine’s prestigious Top 200 issue ranked the Coldwell Banker system No. 1 in real estate for the ninth straight year and 12th among franchisors in all industries. The Coldwell Banker System has approximately 3,500 residential real estate offices and approximately 100,000 sales associates in 47 countries and territories. The Coldwell Banker System is a leader in the industry in residential and commercial real estate, and in niche markets such as resort, new home and luxury property through its Coldwell Banker Previews International® division. It is a pioneer in consumer services with its Coldwell Banker Concierge® Service Program and award-winning Web site, www.coldwellbanker.com. Coldwell Banker Real Estate LLC is a subsidiary of Realogy Corporation, a global provider of real estate and relocation services. Coldwell Banker® is a registered trademark licensed to Coldwell Banker Real Estate LLC. Each office is independently owned and operated.
About J.D. Power and Associates
Headquartered in Westlake Village, Calif., J.D. Power and Associates is a global marketing information services company operating in key business sectors including market research, forecasting, performance improvement, Web intelligence and customer satisfaction. The company's quality and satisfaction measurements are based on responses from millions of consumers annually. For more information on home building and home improvement, car reviews and ratings, car insurance, health insurance, cell phone ratings, and more, please visit JDPower.com. J.D. Power and Associates is a business unit of The McGraw-Hill Companies.
### "
From cbnet@email.coldwellbanker.com email dated 9/17/09
Take care,
Karena
"J.D. POWER AND ASSOCIATES RANKS COLDWELL BANKER HIGHEST IN HOME SELLER SATISFACTION
PARSIPPANY, N.J. – Sept. 17, 2009 – Coldwell Banker Real Estate LLC ranked highest among real estate companies in satisfying home sellers according to the recently released J.D. Power and Associates 2009 Home Buyer/Seller StudySM.
“This recognition is a testament to the brand’s legacy as an industry leader, our commitment to innovation and, above all, our powerful network,” said Jim Gillespie, president and CEO of Coldwell Banker Real Estate LLC. “With unsurpassed local knowledge, expertise and work ethic, we at Coldwell Banker have always felt that our network of professionals is the greatest in the industry, and we’re pleased J.D. Power and Associates recognized it.”
The independently administered study measured customer satisfaction of homebuyers and sellers among the largest national real estate firms. The study incorporates more than 3,100 evaluations from 2,801 respondents who bought or sold a home between April 2008 and June 2009. The survey was fielded between April and June 2009.
J.D. Power and Associates examined four factors in the home-selling experience including: agent; marketing; office; and package of additional services. Among home sellers, Coldwell Banker Real Estate ranked highest with a score of 815 and performed particularly well in all four factors.
Coldwell Banker Real Estate also ranked particularly high in the home-buyer segment. The brand ranked second with a score of 801 on a 1,000-point scale, performing particularly well in the office factor.
Complete results for the study can be found here.
About Coldwell Banker®
Since 1906, the Coldwell Banker® organization has been a premier full-service real estate provider. In 2008, Franchise Times magazine’s prestigious Top 200 issue ranked the Coldwell Banker system No. 1 in real estate for the ninth straight year and 12th among franchisors in all industries. The Coldwell Banker System has approximately 3,500 residential real estate offices and approximately 100,000 sales associates in 47 countries and territories. The Coldwell Banker System is a leader in the industry in residential and commercial real estate, and in niche markets such as resort, new home and luxury property through its Coldwell Banker Previews International® division. It is a pioneer in consumer services with its Coldwell Banker Concierge® Service Program and award-winning Web site, www.coldwellbanker.com. Coldwell Banker Real Estate LLC is a subsidiary of Realogy Corporation, a global provider of real estate and relocation services. Coldwell Banker® is a registered trademark licensed to Coldwell Banker Real Estate LLC. Each office is independently owned and operated.
About J.D. Power and Associates
Headquartered in Westlake Village, Calif., J.D. Power and Associates is a global marketing information services company operating in key business sectors including market research, forecasting, performance improvement, Web intelligence and customer satisfaction. The company's quality and satisfaction measurements are based on responses from millions of consumers annually. For more information on home building and home improvement, car reviews and ratings, car insurance, health insurance, cell phone ratings, and more, please visit JDPower.com. J.D. Power and Associates is a business unit of The McGraw-Hill Companies.
### "
From cbnet@email.coldwellbanker.com email dated 9/17/09
Wednesday, September 16, 2009
Tax Credit information
More information regarding the tax credit...
"The tax credit does not have to be repaid.
The tax credit is equal to 10% of the home purchase up to a max of $8,000.
...available until December 1, 2009.
... The buyer must live in the house for 3 years, or they will be obligated to pay back the credit.
Just claim it on your return. No other forms or papers have to be filed..."
Thanks, lender Rick Costa for this information. He can be reached at 707 529 3374 (cell) for further questions.
Thanks, and have a great day!
-Karena
"The tax credit does not have to be repaid.
The tax credit is equal to 10% of the home purchase up to a max of $8,000.
...available until December 1, 2009.
... The buyer must live in the house for 3 years, or they will be obligated to pay back the credit.
Just claim it on your return. No other forms or papers have to be filed..."
Thanks, lender Rick Costa for this information. He can be reached at 707 529 3374 (cell) for further questions.
Thanks, and have a great day!
-Karena
tax credit to stay around ??
Will the tax credit stay around for awhile? Here are some thoughts...
"Daily Real Estate News | September 16, 2009 |
Economists: Extend the Housing Tax Credit
More than 40 percent of all home buyers in 2009 will qualify for the federal tax credit, costing the government about $15 billion, twice the original estimate, but most housing experts applaud the policy and favor expanding it.
Now the decision is up to Congress.
Mark Zandi, chief economist for Moody’s Economy.com, believes that the credit should be expanded to all homebuyers, even investors, through summer of 2010. “The risks of not doing something like this are too great,” he said. “I don’t think the coast is clear.”
James Glassman of JPMorgan Chase also favors expanding the credit but continuing to limit it to first-time buyers.
Industry members who are lobbying for the extension are optimistic and say they believe an extension will be approved in some form. “There will be a lot of water under the bridge, a lot of compromise, between now” and a final bill, said Richard A. Smith, chairman of the Business Roundtable’s Housing Working Group.
Source: The New York Times, David Streitfeld (09/15/2009)"
http://www.realtor.org/RMODaily.nsf/pages/News2009091601?OpenDocument
"Daily Real Estate News | September 16, 2009 |
Economists: Extend the Housing Tax Credit
More than 40 percent of all home buyers in 2009 will qualify for the federal tax credit, costing the government about $15 billion, twice the original estimate, but most housing experts applaud the policy and favor expanding it.
Now the decision is up to Congress.
Mark Zandi, chief economist for Moody’s Economy.com, believes that the credit should be expanded to all homebuyers, even investors, through summer of 2010. “The risks of not doing something like this are too great,” he said. “I don’t think the coast is clear.”
James Glassman of JPMorgan Chase also favors expanding the credit but continuing to limit it to first-time buyers.
Industry members who are lobbying for the extension are optimistic and say they believe an extension will be approved in some form. “There will be a lot of water under the bridge, a lot of compromise, between now” and a final bill, said Richard A. Smith, chairman of the Business Roundtable’s Housing Working Group.
Source: The New York Times, David Streitfeld (09/15/2009)"
http://www.realtor.org/RMODaily.nsf/pages/News2009091601?OpenDocument
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