Tips For Sellers Category
OBAMA BUMP WRONG WAY
January 21st, 2009
By Brad Garbutt
Interest rates spiked upward slightly on Inauguration Day as President Obama took the oath of office. Many of my clients had hoped the changing of the guard would push mortgage interest rates lower. Rates were hovering at or below 5% for a 30-year fixed rate loan. Today, the best rate was 5% and went on [...]
Leave a Comment »
FORECLOSURE ACTIVITY SEES TEMPORARY LULL
January 20th, 2009
By Brad Garbutt
A California law requiring mortgage lenders to give their customers 30 days notice before filing a Notice of Default (NOD) served to only delay the inevitable for many cash strapped homeowners. The law was intended to give homeowners more time to resolve loan modification requests before foreclosure is initiated by their lenders.
The law took effect [...]
Leave a Comment »
REFI APPS SOAR WHILE PURCHASE APPS SINK
January 18th, 2009
By Brad Garbutt
Inman News reported Wednesday that mortgage refinance applications increased 25.6% from the previous week while applications for purchase loans dropped 14.1%, according to the Mortgage Bankers Association. Spurred by interest rates on a 30-year fixed rate mortgage at or below 5%, borrowers with good credit (credit scores above 720) and equity in their home (at [...]
Leave a Comment »
REDDING HOME PRICES HITTING BOTTOM?
January 16th, 2009
By Brad Garbutt
The bad news first: a review of Redding sales activity for the past 6 quarters shows a steady decline in average sales price and average cost per square foot. The good news is the rate of decline has slowed considerably from the 3rd quarter to the 4th quarter of 2008, according to a local appraisers [...]
Leave a Comment »
REDDING REAL ESTATE STATS FOR DECEMBER
January 12th, 2009
By Brad Garbutt
There is a noticeable trend that developed in 2008 regarding sales prices in the Greater Redding/Shasta County area: the cheaper your asking price, the more likely you will successfully sell your home! December sales numbers drive this point home (pun intended)!
146 homes sold in December 2008 according to the Shasta MLS. 120 of the homes [...]
Leave a Comment »
JUMPING ON THE REFINANCE BANDWAGON?
January 10th, 2009
By Brad Garbutt
Homeowners ears are perking up at the news that mortgage rates are dropping to historically low levels. In the past few weeks, rates for a 30-year fixed rate loan have been bouncing around the 5% mark. Those with adjustable rate loans or interest only loans are contemplating a refinance to take advantage of this rare [...]
Leave a Comment »
SOME LENDERS OFFER “EARLY WORKOUT” LOAN MODIFICATIONS
January 4th, 2009
By Brad Garbutt
I read with interest a recent article in the LA Times reporting Fannie Mae, holder of more than 18 million loans in their portfolio, will allow borrowers in trouble to apply for a loan modification before they miss two or more mortgage payments. Up to this point, borrowers were told they must be behind in [...]
Leave a Comment »
REDDING AREA REAL ESTATE MARKET: YEAR IN REVIEW
January 2nd, 2009
By Brad Garbutt
Now that 2008 is history, I can summarize local real estate market activity as reported by real estate agents to the Shasta MLS. Residential units sold slid 10% from 2007, 1931 for 2008 vs. 2144 in 2007. The number of distress sales, foreclosures and preforeclosures, increased significantly last year. According to the Shasta MLS, 176 [...]
Leave a Comment »
Blogroll
Company Information
- Our Offices
- Meet The Team
- Relocation
- Financing
- Preferred Partners
- Home Rewards
- GMAC Insurance
- Elegant Homes
- Career Opportunities
Categories
- Foreclosures
- Miscellaneous
- Real Estate Articles
- Shasta County
- Success in Real Estate
- Tips For Sellers
