Monthly Archives: November 2018

Distressed sales unchanged in Fresno, Tulare counties ….What to do?

8/22/14

The Business Journal posted an article summarizing the condition of the housing market for distressed properties; those sold at a short sale, foreclosure, and bank owned properties.  For June, in Fresno County 17% of all properties were sold as “distressed”  in June 2014. The state wide amount for California stood at 9.7%.

Historically, and I believe it holds true now, […]

By |November 18th, 2018|Uncategorized|Comments Off on Distressed sales unchanged in Fresno, Tulare counties ….What to do?|

Tax relief for borrowers with canceled or forgiven mortgage debt for 2013

7/28/14

The state of California recently passed Assembly Bill 1393 that says there are no state tax consequences if you have a home where the debt was cancelled or forgiven by the lender due to a principal reduction from a loan modification.  Say for example you renegotiated the loan on your house and the lender reduced your principle balance by […]

By |November 17th, 2018|Uncategorized|Comments Off on Tax relief for borrowers with canceled or forgiven mortgage debt for 2013|

Distressed Sales For Fresno County

11-6-2013

A lot of our business comes from parties who have a need to sell there house quickly.   These include those who owe more on their home than they’re worth, some who are being foreclosed upon, and others who have a home needing many repairs.  Because we have cash to buy and the ability to purchase quickly, buyers come to […]

By |November 17th, 2018|foreclosure, real estate, short sale|Comments Off on Distressed Sales For Fresno County|

Distress sales in Fresno County amount to 17% of all sales.

7/23/14

The Business Journal, a central valley news organization, reports amongst other things that distressed sales

of homes in Fresno County amount to 17% of all sales for the month of June, about the same as May.  However,

that’s much better than a year ago, 36% of all sales were distressed sales.

 

The Fresno County market continues to get better, albeit slowly.  There […]

By |November 16th, 2018|Uncategorized|Comments Off on Distress sales in Fresno County amount to 17% of all sales.|

Fannie Mae: Housing ‘remains a source of concern’

6/25/14

Fannie Mae, an abbreviated name for the Federal National Mortgage Association, and a huge mortgage purchaser in

the housing industry expects housing sales and prices to cool down this year.  Existing home sales fell

in the 1st quarter and rose in April and May, 2014.  They are expecting existing home sales to be down

by 2.4% for all of 2014 and new […]

By |November 16th, 2018|Uncategorized|Comments Off on Fannie Mae: Housing ‘remains a source of concern’|

Negative equity declines in Fresno area

The Business Journal, a local paper, indicated that just under 25 percent of all houses in the Fresno Metropolitan area have negative equity;  meaning the owner owes more than what their home is worth.  That’s a large drop from 2012.
This, I think, is a reflection of the increased appreciation in property values over the last year.  That’s good news […]

By |November 15th, 2018|Uncategorized|Comments Off on Negative equity declines in Fresno area|

Pros And Cons Of Selling Your Home To A Real Estate Investor

Forbes magazine has an interesting article with the above title: It goes into the pros and cons of selling to an investor. Since Central Cal Homes, Inc. does buy directly from Sellers as well, I thought it beneficial for prospective sellers to see the comments from an outsiders perspective.

The Pro’s are: 1) Flexible payment options. 2) Cash […]

By |November 15th, 2018|Uncategorized|Comments Off on Pros And Cons Of Selling Your Home To A Real Estate Investor|

Depending on location it could take longer to sell your home.

7/17/14

Guarantee Real Estate just reported that the number of homes for sale has increased and the number of days

the property is on the market has increased slightly year to date; the number of days on the market is the time it takes to

get a buyer, not when it actually closes escrow.  Our experience puts that number around 45 days.  […]

By |November 14th, 2018|Uncategorized|Comments Off on Depending on location it could take longer to sell your home.|

3 Ways To Dump Your House

12-19-13 The MSN Real Estate section published the above article that caught my attention.  It mentions the Short Sale and the Deed-In-Lieu of Foreclosure.  The Short Sale most of us have heard about.  Few have heard of the Deed-In-Lieu of Foreclosure.

The deed-in-lieu of foreclosure is a fairly simple process.   The borrower or the lender prepare a Deed that gives […]

By |November 14th, 2018|sell house|Comments Off on 3 Ways To Dump Your House|

How Long After A Short Sale Can You Buy Again?

12-13-13  For those wanting to buy again, this is an important question:  “When Can I Buy Again?”

The good news is you can.  When you can buy depends on who buys or insures the loan.   Martin Goldberg has some nice guidelines relating to this question.  He posted it in May 2013.  Keep in mind lending guidelines change and Mr Goldberg’s […]

By |November 13th, 2018|short sale|Comments Off on How Long After A Short Sale Can You Buy Again?|