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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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. […]
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 […]
12-4-13 – The Home Affordable Refinance Program, also known as HARP, is a federal program of the United States, set up by the Federal Housing Finance Agency in March 2009 to help underwater and near-underwater homeowners refinance their mortgages. The application deadline is Dec 31, 2015. To see if you qualify check out the HARP website!
If you’ve received unemployment benefits within the last 30 days you could qualify for mortgage assistance. Notice there’s a time parameter here. If you’re about to lose you unemployment benefits, you need to hurry. See it at Keep Your Home California