Tag Archives: bank owned homes

California at the Forefront of Foreclosures

Just read this little nugget over at CNNMoney.com, “The foreclosure problem is widespread but reaches plague proportions in 10 states; those hardest-hit areas account for 77% of all foreclosure filings. California had more than any other state with 92,249 – nearly 29% of … Continue reading

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Realtors Are On Our Side

Last Thursday the California Association of Realtors met in Sacramento, CA. CAR Executive Vice President, Joel Singer, rallied his downtrodden troops, “In a sense, what has occurred is probably in our best interest.” The California house price median drop from nearly $600,000 to … Continue reading

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Will Future Loan Mod Defaults Increase Short Sale Supply?

A new study by Fitch Ratings predicts that 55-65% of home loans getting modified will end up at least 60 days behind within a year. The percentage is even higher for those in subprimes with 60-day delinquencies predicted at 65-75%, reports … Continue reading

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No Need to Live ‘House Poor’ to Land a Luxury Property in the OC

Yesterday’s news that first-time homebuyers can take immediate advantage of the $8,000 HUD tax credit for use towards their down payment and closing costs may have you eager to join other SoCal residents in getting more house for their money by entering … Continue reading

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Short Sale and Foreclosure “Homes Almost 20% Cheaper”

The reports are in and CNNMoney.com has this to say about the first quarter of 2009’s housing market, “the S&P/Case-Shiller National Home Price index, a bellwether of real-estate market direction, plunged a record 19.1% during the quarter compared with the first three months … Continue reading

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Don’t Bank On It: Banks Struggle to Sell Properties in Cali

This probably isn’t news to our devoted Orange County readers, but I’ll put it out there anyway, Mathew Padilla over at the OC Register’s Mortgage Insider is reporting “bank owned homes sell slowly on the coast.” He lists a few reasons for … Continue reading

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A New Wave of Short Sales Coming

There have been a lot of articles written lately about the coming wave of option ARM resets that are set to occur mostly between 2010-2012 (investment bank Credit Suisse has a detailed research report available for clients). The Option ARMs … Continue reading

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Current Orange County Market is a First Time Homebuyers’ Paradise

MSNBC spoke to the CEO of RealtyTrac, James Saccaccio, located in our own backyard of Irvine, California. What’d James have to say? “Sales activity appears to be increasing in some of these hard hit markets as home prices have fallen to levels that are … Continue reading

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Sluggish Market Spurred by Uptick in Home Improvement Stock

 In the optimistically titled article, “Wall Street throws a house party,” CNN reports that Lowe’s CEO, Robert Niblock, sees an end in sight to the housing decline,  “In recent weeks we have seen consumer confidence improve, housing turnover show signs of … Continue reading

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Breaking the Bank: Paving the Way for Shorter Short Sales

Real Estate agents, homeowners, buyers and communities across the nation just can’t make sense of it, if a short sale is more beneficial to everyone involved, including the banks, then why are foreclosures more prevalent in the marketplace? Trust me, the banks aren’t … Continue reading

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