Home Prices Up by October 2010...

Home prices in 45 of the largest housing markets are expected to fall another 4.2 percent before they hit bottom in March, according to First American CoreLogic’s LoanPerformance Home Price Index. By October 2010, prices are expected to be heading upward again by about 1 percent compared to 2009. The report warned that this progress could be jeopardized by an increasingly large “shadow inventory” of homes owned by...

Another Big Gain in Existing-Home Sales...

Existing-home sales rose again in November as first-time buyers rushed to close sales before the original Nov. 30 deadline for the recently extended and expanded tax credit, according to the National Association of Realtors. Existing-home sales – including single-family, townhomes, condominiums and co-ops – rose 7.4 percent to a seasonally adjusted annual rate of 6.54 million units in November from 6.09 million in...

What a deal...

This house was on the market for $685,000 and is now offered at $450,000 !! Do you see what I see? Where in the San Francisco Bay Area or Marin County can you find this quality of home and setting? Now is the time to think about buying property in Mt Shasta! Email me to get started! Look at the property features: A fabulous Mt Shasta view from many of the rooms and a big back yard with pool. Endless delights await your...

A new form required for loan applications...

Effective for loan applications taken as of January 1, 2010, all lenders are required to issue the new government-mandated Good Faith Estimate (GFE). Closing agents must use the new HUD-1 Settlement Statement when the new GFE is used. The new 3-page GFE groups closing costs into standard categories to help you, the borrower, compare estimates to the actual costs listed in the HUD-1. The new GFE doesn’t specify...

$1,500 for Mortgage Protection Program...

First-time buyers may be eligible to receive up to $1,500 for up to six months to assist with mortgage payments. To help provide first-time home buyers with peace of mind when purchasing a home, the CALIFORNIA ASSOCIATION OF REALTORS® Housing Affordability Fund (C.A.R.H.A.F.) is offering a mortgage protection program to first-time home buyers. Through the C.A.R. Housing Affordability Fund’s Mortgage Protection Program,...

$8,000 Tax Credit Information...

Did you know that first-time homebuyers have accounted for 53% of all real estate transactions in 2009? The American Recovery and Reinvestment Act authorizes tax credit of up to $8,000 for qualified first-time home buyers. First-time homebuyers have to sign a purchase agreement by April 30, 2010 and close by June 30, 2010. Homes purchased up to $800,000 are eligible. The income limit for claiming the full tax credit for...

Coming Soon: More Foreclosures...

More than 1.7 million homeowners were verging on foreclosure this fall, making it likely that these houses will soon end up on the market one way or the other, driving down overall housing values. “We’re going to be dealing with high levels of distressed (sales) in the marketplace for at least a couple of years,” says Mark Fleming, chief economist of researcher First American CoreLogic, which has been...

Banks Again Offering Home Equity Lines...

Now might be a good time for homeowners who still have plenty if equity in their home to tap into it. Lenders are again writing home equity lines of credit, says MortgageBot, which processes real estate loans. Homeowners with more than 20 percent of equity in their homes may find the HELOC a better source of emergency cash than a credit card as long as they don’t exhaust their equity. Source: CNNMoney.com, Linda Stern...

Exterior Remodeling: Best Bang for Your Buck...

Despite a slow market and a slight decrease in the resale value of most remodeling projects, REALTORS® report that the smartest home improvement investments may also be some of the least expensive. Results from the 2009 Remodeling Cost vs. Value Report show that small-scale exterior projects are the most profitable at resale, according to estimates by REALTORS® who completed a recent survey. On a national level, eight out...

Developers Wanted Now!...

Over the years several developers have bought land in the Mt Shasta area and created subdivisions and infrastructure.  From there they put the lots on the market for sale. Well, there are many, many lots undeveloped.  They assumed people would want to buy a lot and build their own home.  It appears that what people really want is a newly built home they can enjoy now. So, developers this is your moment! Prices for land and...