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 […]
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 […]
3-17-14
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 […]
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
and
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 […]
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 […]
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 […]
2-21-14
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 […]
2/6/14 Generally, in California when you’re delinquent on your property taxes for five years, the county
tax collector may offer the property for sale to satisfy the defaulted taxes. Note they can foreclose sooner
if you have a “nuisance abatement lien” on the property.
In Fresno County this sale begins on March 7, 2014.
If you are in the unfortunate position of being […]
02-21-2014
Interesting article regarding real estate in California. Property Radar has reported that
sales and values have declined in California. Though it looks like the market is improving:
the number of foreclosures and investors are dropping, we still have a ways to go before
we’re back to a healthy market. The two NEW items that are mentioned in the article
that are hampering growth:
Limited […]
1/30/2014
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 still […]