Dave Thurman’s Blog

My new listing located at 516 Bird Ave, Stockton CA sold in only 12 days! One of the reasons I get such fast results is because with REALTY WORLD my listings are submitted to many internet portals which have a huge amount of real estate traffic. My listings are submitted to Trulia, Yahoo, Google, Zillow, and many other Web sites. Also, I have four of our own office websites  which are always up-to-date with new listings and foreclosures properties. Take a look and decide for yourself…List with us and start packing.

DaveThurman.com

ReneeGrosz.com

Dave Thurman’s Blog

Renee Grosz’s Blog

California has enacted another new law which extends the foreclosure process by at least 90 days. The purpose of the extension is encourage lenders to work with the homeowner regarding a loan modification and keep more families in their home. Of course, new laws like this one have good intentions, but complicating the powers of sale in a deed of trust, could have a very serious negative impact on the real estate market.

In my opinion, we don’t need new laws and more delays in the foreclosure process. We need to encourage lending and real estate investing. We need to allow the normal market process to take place. There will be new buyers for the foreclosures properties and they will need loans!

CAR

With the recession, unemployment, foreclosures, and all the budget problems; sometimes it is very difficult to remain positive about the future.

But, here is some good news it you are interested in the real estate market!

The following information was sent to members of the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.).

Housing picture brightens in California

With the state’s median price rising for the second consecutive month in April, and sales of existing, single-family homes remaining above the 500,000 level for the eighth month in a row, California is being closely watched as a barometer of the economy.  Some economists believe these two factors indicate the state’s median price could be at or near the bottom.

MAKING SENSE OF THE STORY FOR CONSUMERS

·      Sales of existing, single-family homes increased 49.2 percent in April in California compared with the same period a year ago, according to the CALIFORNIA ASSOCIATION OF REALTORS®’ (C.A.R.) April sales and price report.

·      As the level of unsold inventory declines, the state’s median price will likely stabilize.  Inventory levels for homes in the under $500,000 segment shrank to nearly three months in April, compared with almost 10 months a year ago, while unsold inventory in the more than $1 million segment rose to approximately 17 months, compared with roughly 10 months in April 2008. 

·      The median price of an existing, single-family detached home in California during April 2009 was $256,700, an increase of 1.4 percent compared with the prior month, but a 36.5 percent decrease from the revised $404,470 median of a year ago.  

·      Favorable home prices in many parts of the state have led to an increase in affordability for first-time buyers.  In the first quarter of 2009, affordability rose to 69 percent, enabling many to take advantage of first-time buyer programs and near record-low interest rates. 

Home buyer tax credit can be applied to purchase costs

U.S. Dept. of Housing and Urban Development (HUD) Secretary Shaun Donovan recently announced that the Federal Housing Administration (FHA) will allow home buyers to apply the administration’s new $8,000 first-time home buyer tax credit toward the purchase costs of a FHA-insured home. The American Recovery and Reinvestment Act of 2009 offers home buyers a tax credit of up to $8,000 for purchasing their first home. Families can only access this credit after filing their tax returns with the IRS. Home buyers using FHA-approved lenders can apply the tax credit to their down payment in excess of 3.5 percent of appraised value or their closing costs, which can help achieve a lower interest rate.

Read More…

Maybe it is time to take our website back! It is a well known fact that REALTOR.com has more traffic than any other real estate website on the Internet, but where are all the leads going? Our own MLS listings are automatically uploaded to the site within 24 hours, but we have to pay an extra fee to add additional photos, edit or enhance each listing and also pay extra to add a virtual tour. Where did we REALTORS® loose control of our own business? Have you noticed the ridiculous looking advertisements on our website? All REALTORS® and contact information should be represented on the website equally without regards to how much is paid by a brokerage.

NAR, Local Associations and all REALTORS® need to take a good look at this website and start working to improve on our image to the public.

REALTOR.com

Dave Thurman

Realty World - Dave Thurman

 Lockeford Springs Golf Course, is a public, par 72, 18 hole course located in the heart of the Lodi wine country. It is a links-style course with uneven lies, undulating greens, and hidden water hazards. My favorite hole and the signature hole is the 18th; a 514-yard, par 5 dogleg fairway with a water hazard on the left, an L-shaped green, and a canal on the right. Not a difficult hole to make birdie, but you better be very careful or you might end up with a double boggy. 

The course and facility is equal or better than many private courses, and the staff is very relaxed and friendly!

www.lockefordsprings.com

Post a comment about your favorite golf course…call me for a game.

Dave Thurman

Realty World - Dave Thurman

In San Joaquin County, historically very low mortgage interest rates have combined with very low prices driven by foreclosures which brought out all the buyers in bunches. Now, we seem to be running out of inventory! Where is are all the new foreclosure listings? That’s what all the Stockton REALTORS® are asking about now, especially since we all have learned how to work with and get along with banks and asset managers. We have the lowest number of homes on the market since 2005. Well, if you think the foreclosures are done, just drive around town and try and count all the vacant houses!

RealtyTrac: April foreclosures rise 32 percent…MIAMI — The number of U.S. households faced with losing their homes to foreclosure jumped 32 percent in April compared with the same month last year, with Nevada, Florida and California showing the highest rates, according to data released Wednesday.

More than 342,000 households received at least one foreclosure-related notice in April, RealtyTrac Inc. said. That means one in every 374 U.S. housing units received a foreclosure filing last month, the highest monthly rate since the Irvine, Calif.-based foreclosure listing firm began its report in January 2005.

April was the second straight month with more than 300,000 households receiving a foreclosure filing, as the number of borrowers with mortgage troubles failed to abate.

The real estate market in Stockton, California may have finally stabilized over the last couple of months. Multiple offers have been common place on most new listings priced at or around the recent comps. Also, many serious buyers are looking for listings that are not short sales or REO’s due to the many long waits for answers to their offers and other frustrations. The prices in Stockton are at unbelievable low levels and it seems that everyone knows it! The inventory of homes and active available listings have been shrinking from previous levels and all cash offers are not unusual.

Renee Grosz, REALTOR® and I have been working overtime to please all of our new clients. It seems like almost everyone is interested and thinking about buying a home in Stockton and San Joaquin County areas lately. Also, “the real estate investor” is back in the marketplace even though financing is difficult to find for most of them.

Welcome to my new blog website! We are still working on it…so please excuse us for the next few days. Be sure to visit us often for new posts about the local real estate market and information about our listings. Thank you!

I’ve just sold a Bank-owned (REO) property at Moorcroft Circle in Stockton. Come and visit my site to see other properties in that area. If you are interested in looking for or selling your home, please Contact Me.