This is a question that I’m getting more and more these days. We’re reading stories about job growth, increases in real estate sales, good economic news in the Bay Area’s Silicon Valley. Things must be getting better, right? Well, if you live in the Sacramento area like I do, it’s going to be a while longer before the real estate market starts getting better, according to TrendVision [Read more…]
“HUD” Homes For Sale!
The US Department of Housing and Urban Development , or HUD, is becoming more of a player in the housing market. How does the US government end up with homes to sell, you ask? The answer is: from homes that have been financed with FHA loans. With FHA- backed loans, the government insures the lender against default by the borrower. When a homeowner defaults on an FHA loan, the lender is paid off and the home becomes the property of the government. HUD has the responsibility to sell the home on the open market. You can see the extent of the HUD homes for sale by visiting www.HUDHomeStore.com. [Read more…]
Short Sale-Forclosure Rules for 2011
The new year brings significant changes in California on how a short sale or a foreclosure affects homeowners! California Senate Bill 931, which went into effect on January 1 2011, restricts the circumstances which lenders can pursue deficiency judgements against the borrower. First deed of trust lenders can no longer pursue deficiency judgements after a short sale of 1-to-4 residential properties. This is a big change! Previously, the mortgage had to be “purchase money” and the home had to be owner-occupied in order to qualify for this exclusion. [Read more…]
Ten Things You Should Know About Your Property Taxes
Many people, including some real estate professionals have misconceptions about their property taxes. To help you better understand property tax laws in California, here are ten things that every property owner should know property taxes.
- Real property can only be reassessed if there has been a change in ownership, new construction or a decline in value. [Read more…]
Preparing your Home for Sale
“You never get a second chance to make a good first impression”
A potential buyer’s first impression of your home is critical for their decision to consider it further. Key areas to consider when preparing your home for sale include…
Curb Appeal — The outside of your house can be the source of a very good first impression. Keep the lawn mowed. Have your trees and bushes trimmed. Cut back overgrowth. Plant some blooming flowers. Consider having at least the front door, front of your house, and the trim painted. [Read more…]
Using Renovation Financing to Get the Home You Want
Many of the homes for sale in today’s market we can realistically call “distressed” homes. With all the bank foreclosures and short sales, people are just not taking care of their homes. While prices may be low, most first-time home buyers are stretching to buy a home and there just isn’t enough left over for taking care of deferred maintenance items, making repairs, or updating the home. This is where a little-known loan program, the FHA 203(k) loan program comes in. [Read more…]