Settlement Provides 4 Billion in Aid To Distressed Borrowers

11-20-2013  J.P. Morgan Chase just settled with the Justice Department  over a variety of legal issues related to the mortgage debacle.  Apparently they were not forthright about the mortgages they sold on the secondary market.  They were weaker mortgages than advertised.  In the agreement J.P. Morgan is to provide 4 Billion in aid to distressed borrowers.  The use of […]

What’s happening in the Fresno/Clovis real estate market?

For about the last 6 months the demand for houses has dropped. We’ve had to lower our prices and wait longer to get our properties sold. As we have tried to discern why, the following come to mind: 1.) Interest rates have gone up. 2.) Job growth has not taken root, leaving fewer qualified buyers. 3.) Uncertainty caused by […]

By |September 25th, 2020|real estate|0 Comments|

Stop Foreclosure – California Trustee Sale

I hope that you find this information helpful. We’ve provide the steps associated with the California Trustee’s Sale (Foreclosure) below. You can also download a chart of the process by clicking this link (PDF): California Trustee’s Sale (Foreclosure)
Borrower Defaults
The Borrower (Trustor) has not made good on the loan. The lender (beneficiary) begins foreclosure by requesting the […]

By |September 25th, 2020|foreclosure|Comments Off on Stop Foreclosure – California Trustee Sale|

Free Value Estimate For Your Home

Have you ever wondered what your home is worth?  Maybe you’re wondering if you could sell and payoff your loan without owing anything.  Zillow is a website that offers free AVM’s:  Automated Valuation Model.  This is an estimate of what your home is worth based on sales in your area.  Each company has a variety of parameters they use […]

By |September 24th, 2020|Uncategorized|Comments Off on Free Value Estimate For Your Home|

Tax Consequences of a Short Sale In California


There’s good news for Californians who are needing to do a short sale.  According to the California Association of Realtors a letter from one of the FTB board members stating  “California families who have lost their home in a short sale are not subject to state income tax liability on debt forgiveness “phantom income” they never received in a […]

By |September 24th, 2020|Uncategorized|Comments Off on Tax Consequences of a Short Sale In California|

Home Affordable Refinance Program – HARP

3-5-14  I recently read that 25% of all homes with mortgages in Fresno County still owe more than there home is worth.  There’s

two parts to this equation:

1) The debt exceeds the value of the home


2) The homeowner is paying interest on debt that’s beyond the homes worth.  That’s not efficient.

Wouldn’t it be wiser to reduce the payment burden by […]

By |September 23rd, 2020|Uncategorized|Comments Off on Home Affordable Refinance Program – HARP|

Distressed sales still falling in Fresno

Distressed homes in Fresno County were 24 percent of all homes sold in December 2013. This is good compared to 52 percent in December of 2012. This is a reflection, in my opinion, of the increased values of homes compared to 2012. The median price appreciation was in the high teens, low 20’s for 2013.

For those of you […]

By |September 23rd, 2020|Uncategorized|Comments Off on Distressed sales still falling in Fresno|

A “short sale” is an option…

A “short sale” is an option.

This is where the owner and the lender cooperate to sell the home for less than the balance owed on the property.

Typically the owner contracts with a real estate agent to sell the property.  The agent contacts the lender to […]

By |September 22nd, 2020|short sale|Comments Off on A “short sale” is an option…|

Drought to flatten Fresno job growth

One of the areas of business that affects real estate values is jobs.  If you have more jobs it places, greater demands on housing.  Which then puts upward pressure on real estate values.  Fresno’s job growth is expected to be flat because of the drought.  This will likely reflect in flat or lower values for housing.   For those of […]

By |September 22nd, 2020|Uncategorized|Comments Off on Drought to flatten Fresno job growth|

California Housing Market Outlook for 2014


In 2013 the price for a Single Family Residence, SFR,  (homes) went up on average 28% in California.   Though

Fresno didn’t rise this high,  it still made it into the low 20 percentile range.  The result being that fewer homes

are upside down ; in a previous blog we were down to less than 25% of all mortgaged properties in

Fresno County […]

By |September 21st, 2020|Uncategorized|Comments Off on California Housing Market Outlook for 2014|