These are all the Blogs posted in September, 2008.
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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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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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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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 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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