Well, here goes that real estate roller coaster again. Inventories of available homes have dropped drastically in most markets from a year ago, For example, Oakland homes for sale have dropped nearly 52% from a year ago. Currently, the entire City of Pleasant Hill has only 25 available single family homes for sale. Prior to ... [Read More]
Well, here goes that real estate roller coaster again. Inventories of available homes have dropped drastically in most markets from a year ago, For example, Oakland homes for sale have dropped nearly 52% from a year ago. Currently, the entire City of Pleasant Hill has only 25 available single family homes for sale. Prior to the crash in 1996 of home values, we got down to only 13 available listings in Pleasant Hill. I blogged at the time that we had almost sold them all! I expect some needed relief in improving home values. Expect values to start rising in the next 6 months as improving values lag the market 3 to 6 months as people make buying decisions and they then go through the escrow process. Read More: http://realtormag.realtor.org/daily-news/2012/04/17/inventory-for-sale-homes-posts-big-drop
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Supply of distressed home listings cut in half (lansner.ocregister.com)
They have said that 2012 will be called the year of the short sale. Here’s more evidence: http://realtormag.realtor.org/daily-news/2012/03/01/short-sales-rise-more-banks-view-it-better-option I’m closing 2 short sales right now. One of them the bank is allowing the seller to receive $25,000! If you know somebody who is in distress with their property and would like to learn what options ... [Read More]
Image by 401K via Flickr Did you know that if you are upside down on your home and process a short sale, that the amount that the bank forgives is scheduled to become taxable in 2013? That means that, for example, if the bank forgives say, $100,000 in order for you to sell you home, that $100,000 ... [Read More]
Image by 401K via Flickr
Did you know that if you are upside down on your home and process a short sale, that the amount that the bank forgives is scheduled to become taxable in 2013? That means that, for example, if the bank forgives say, $100,000 in order for you to sell you home, that $100,000 would be taxed at your tax rate. For a person in the 25% tax bracket that means they would owe $25,000 to Uncle Sam. If you are having trouble making your payments, I can think of no better reason to do a short sale in 2012. Contact us today. You do have options!
Image via Wikipedia For the fifth consecutive year, Nevada continues to have the highest foreclosure rate in the country, despite a 31 percent drop in the state’s foreclosure activity from 2010 to 2011, RealtyTrac reports. Several states continue to see a large amount of foreclosures, which are putting downward pressure on overall home prices. The ... [Read More]
Image via Wikipedia
For the fifth consecutive year, Nevada continues to have the highest foreclosure rate in the country, despite a 31 percent drop in the state’s foreclosure activity from 2010 to 2011, RealtyTrac reports.
Several states continue to see a large amount of foreclosures, which are putting downward pressure on overall home prices.
The states with the highest foreclosure rates for 2011 are:
1. Nevada: 6 percent (1 in 16 housing units received at least one foreclosure filing in 2011)
2. Arizona: 4.14 percent (or 1 in 24)
3. California: 3.19 percent (or 1 in 31)
4. Georgia: 2.71 percent (or 1 in 37)
5. Utah: 2.32 percent (or 1 in 43)
6. Michigan: 2.21 percent
7. Florida: 2.06 percent
8. Illinois: 1.95 percent
9. Colorado: 1.78 percent
10. Idaho: 1.77 percent
Nationwide, 1 in 69 housing units or 1.45 percent of home owners received at least one foreclosure filing during 2011, which is down from 2.23 percent in 2010, RealtyTrac reports.
Source: RealtyTrac
Image by Getty There are 2 answers to this question. 1. Home values are likely to fall another 4 to 5%. 2. It depends on many factors. Most economists seem to agree that 2012 is likely to be a flat to slightly down market in terms of values. However, we do seem to be hitting ... [Read More]
http://economistsoutlook.blogs.realtor.org/2011/09/28/financial-industry-corporate-profits/ Why? Uncertain regulation by the Feds. Our current administration needs to, in my opinion, find ways to provide confidence in our markets and the future. Unfortunately, I think this means the need to cut the government spending back to the Clinton levels. We just cannot sustain the current spending levels. Another thing that could ... [Read More]
