Tips For Sellers Category
Need A Mortgage? Better Sooner Than Later!
February 24th, 2010
By Brad Garbutt
The Federal Reserve propped up the housing industry last year by buying up $1.25 trillion in mortgage backed securities but has told banks that will end this spring. Investors typically buy these securities but stopped after the housing bubble burst. The Fed’s actions averted certain disaster by keeping money in the loan pipeline as well as keeping mortgage interest [...]
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Home Foreclosures Subsiding Elsewhere
February 22nd, 2010
By Brad Garbutt
RealtyTrac reported its January numbers for foreclosure properties which include notices of default, auctions and bank repossessions. There was a 10% decrease from the previous month however the 315,716 foreclosure filings for U.S. properties was 15% higher than one year earlier.
Nevada has the honor of the highest number of filings for the 37th straight month. [...]
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Get Paid To Pay Your Mortgage?
February 15th, 2010
By Brad Garbutt
That’s right! An experimental program has been launched to entice homeowners not to walk away from their mortgages that are underwater by offering a cash reward if they keep their payments current. According to a Wall Street Journal blog, Loan Value Group LLC is launching a pilot program to determine if rewarding borrowers with cash is [...]
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Redding Real Estate:Newer The Home, Higher The Value!
February 9th, 2010
By Brad Garbutt
A local appraiser points out that homes 5 years of age or newer have the highest average value on a cost per square foot basis. The average price of a newer home is $286,172 or $155.9 per square foot. The average of homes 6 years or older drops precipitously to $116.7/square foot. All homes sold [...]
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Know An FHA Borrower Struggling With Mortgage Payments?
February 1st, 2010
By Brad Garbutt
President Obama signed into law a program to assist FHA borrowers experiencing financial hardship before they fall behind in payments. The Helping Families Save Their Home ACT of 2009 grants FHA broader authority to hopefully prevent FHA borrowers from slipping into foreclosure. Prior to this law taking effect, borrowers had to be behind in payments [...]
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Is Fed Poised To Kick Crutch Holding Up Housing Market?
January 26th, 2010
By Brad Garbutt
Low interest rates enjoyed in 2009 by home buyers and homeowners refinancing may be history come March. The Federal Reserve propped up the ailing housing market by quietly buying up mortgage-backed securities and lowering key interest rates which influence costs for consumer borrowing. Lenders loaned money only because they knew government sponsored enterprises (GSE’s) were willing to buy them. [...]
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Is Your Taxable Property Value Too High?
January 21st, 2010
By Brad Garbutt
Proposition 8 requires county assessors review property values used to calculate property tax bills when the current value drops below the base year valuation. Some California assessors have waited for property owners to request a new appraisal while others, including our elected assessor Leslie Morgan, have taken the initiative to examine thousands of properties purchased after 2002. Leslie Morgan and [...]
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Redding Home Prices Slip Further in 4th Quarter 2009
January 13th, 2010
By Brad Garbutt
Despite news that prices have bottomed elsewhere in California, Redding home values dived nearly $4 in the average cost per square foot in the last quarter of 2009 from $133.35/foot to $129.7/foot. The average cost per square foot year-to-year dropped from $148.16/square foot in the final quarter of 2008 representing a 12% drop in value for homes [...]
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