Dave Thurman's Real Estate Blog » 2009 » June

New Listing Sold in 12 Days!

Dave Thurman — Tue, 23 Jun 2009 04:41:21 +0000

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.

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90 Day Extension to Foreclosure!

Dave Thurman — Fri, 19 Jun 2009 05:45:02 +0000

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!

Good News for California!

Dave Thurman — Sat, 06 Jun 2009 12:32:06 +0000

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.

Have You Heard About the First-time Buyer Tax Credit?

Dave Thurman — Thu, 04 Jun 2009 01:42:06 +0000

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.