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Saturday, October 11, 2008
How to Sink a House With a Boat
Recently a GreatWest GMAC Real Estate professional was lamenting about a couple "For Sale" signs on a home in her community. It had previously been a well kept home, but now appeared more ragged around the edges.
A real estate "For Sale" sign was hanging from the traditional post planted on the front lawn. But a smaller sign hung around the neck (or bow) of "The Unforgiven" - a large boat, moored in the driveway.
Curious about the property, the agent searched the MLS for the listing, while checking price, amenities, condition, and financing terms. It was discovered that th... Read more
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Sunday, October 5, 2008
Brookfield Residential Property Services Acquires GMAC Home Services
AN ANNOUNCEMENT-
GreatWest GMAC Real Estate is pleased to announce the acquisition of GMAC Home Services by Brookfield Residential Property Services (BRPS), a wholly owned subsidiary of Brookfield Asset Management Inc., a global asset manager located in Toronto, Canada focused on property, power, and infrastructure assets with approximately $95 billion in assets under management. The Brookfield company does the same type of business that GreatWest GMAC Real Estate performs.
The sale of GHS and its affiliated companies and employees supports ResCap’s core business mode... Read more
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Sunday, September 28, 2008
Houses are Receiving Multiple Offers
We’ve certainly had more than our fair share of bad news in the housing marketplace in recent months, but there may be reason for a glimmer of hope, and a new dawn breaking at last on the horizon.
More and more GreatWest GMAC Real Estate Professionals are reporting offers being written, and more buying activity than seen in awhile.
The entry-level housing arena seems to be enjoying some exuberance being fed by the CAL FHA, First Time Buyer program.
One real estate agent reported they had been working with a buyer for a few weeks, using this type of financing fo... Read more
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Saturday, September 20, 2008
Every Year At This Time The Hills Come Alive
Every year at this time, there is a special place along Highway 50, in an area cradled in the arms of the Sierra Foothills that comes alive.
In Autumn when the fruit comes into harvest, and the cider is pressed, Apple Hill provides delight for all.
Originally, Apple Hill was a collection of approximately 16 ranches or orchards. Today it boasts more than 50 ranches including Christmas tree growers, wineries, a micro-brewery, Spa, vineyards, and pumpkin patches.
Apple Hill is located in El Dorado County - approximately 4 miles east of Placerville. There is easy a... Read more
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Sunday, September 14, 2008
Senators Call For Freeze on Foreclosures
Various news agencies in the last several days have reported that four U.S. Senators have urged mortgage companies, Fannie Mae, and Freddie Mac to temporarily halt foreclosures on loans they hold.
The lawmakers advised the new chief executives and federal regulator now running Fannie Mae and Freddie Mac. The beleaguered companies, seized by the government a week ago, should help struggling borrowers attempting to keep their homes, to swap their mortgages for more affordable loans.
The senators, Democrats Charles Schumer of New York, Sherrod Brown of Ohio, Bob Casey of Pennsylvani... Read more
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Sunday, September 7, 2008
Federal Government Seizes Control of Fannie Mae and Freddie Mac
On late Friday, the news media became abuzz with reports, the shoe had finally began to drop with regard to Fannie Mae and Freddie Mac. Articles revealing the government had conjured a plan to put the two troubled mortgage Goliaths under federal control, dismiss their top executives, while shoring the institutions up financially.
The plan would prompt one of the more sweeping government interventions of financial markets in U.S. history, placing the firms under conservatorship, and empowering the government to restructure and breath new life into the companies.
Stock would b... Read more
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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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