Dave Thurman's Real Estate Blog

Governor Schwarzenegger signed AB 183 into law, reinstating the California Homebuyer Tax Credit.

AB 183 will allocate $200 million for homebuyer tax credits, providing $100 million for qualified first-time homebuyers of existing homes and $100 million for purchasers of new or previously unoccupied homes. Eligible taxpayers who purchase a qualified principal residence between May 1, 2010 and December 31, 2010 or who purchase a qualified principal residence between December 31, 2010 and August 1, 2011 with an enforceable contract executed on or before December 31, 2010 may take the allowed tax credit. The credit is the lesser of 5% of the purchase price of the home or $10,000, in equal installments over three consecutive years.

The Franchise Tax Board will accept applications by fax only beginning May1, 2010. Buyers will need to submit the application via fax along with the final settlement statement provided at the close of the transaction within 14 calender days of the close of escrow.

For information, contact the Franchise Tax Board at 888.792.4900.  Applications and more information may be obtained at www.ftb.ca.gov

 Above information is compliments of:  Sara Larson and Erick Lacy at Placer Title Company, Stockton CA

Number of Homes for Sale vs. Sold vs. Pending

April 2009 there were 1370 homes for sale in Stockton, California in comparison to April 2010 where there was a decrease to 884 homes for sale. The number of homes sold in April 2009 was 643 and in April 2010 the number of homes sold decreased to 421. In April 2009 there were 726 pending sales which increased to 783 in April 2010.

More graphs and charts from our MLS and TrendVision Reports

California:

Los Angeles Times: California home default cases plunge
By Alejandro Lazo
4/21/2010
Mortgage default notices declined 40.2 percent statewide in the first three months of the year compared with the same period in 2009, according to MDA DataQuick.
 
National:

Wall Street Journal: Land prices jump as home builders move in
By Dawn Wotapka
4/21/2010
Across the U.S., home builders are battling to acquire land lots in preparation for ramping up home construction. While volume is tough to track, analysts report that land deals have been rising rapidly in recent months, causing land prices in some of the nation’s weakest housing markets to rise for the first time since 2006.

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Well, I went door knocking today! Knocking on doors is one of the most successful ways for a real estate agent to find new business. I should know… for the first 5 years or so, I was a door knocker 3-5 days a week for at least 2 hours a day.

Over the past 30 years, I have always said “if I ever need more business; I would know what to do!” 

To be a successful door knocker you must be very stubborn and have faith that it will work. Most agents will give up if they don’t get a listing or a buyer the first day or two. It is very important to pick an area near your office or near your home which you are very familiar with. It is also important to know the neighborhood and the home values. I like to hit a lot of homes and not allow a long winded talker to take up my time. (I can always come back or call later if it really is a good lead)  

The best part of door knocking is knowing that my fellow agents will give up before they get out of the office! 

On April 25, 2010 at 11:00 AM, you are invited to an Open House at 108 S Sinclair Avenue in Stockton. If you are looking for a Single-family property in this area, don’t miss this rare opportunity to visit this magnificent property. For a preview of this Single-family property, check out my site at DaveThurman.com. Please do not hesitate to Contact Me if you have any questions or wish to schedule a private showing.

Virtual Tour ~ 108 S Sinclair, Stockton CA

I found this article today on Comcast while having my morning cup of coffee…guess I better lock my mortgage refinance ASAP

WASHINGTON — Rates for 30-year home loans surged last week, rising to the highest level in eight months due to the improving economy and the end of a government push to keep rates low.

The average rate on a 30-year fixed rate mortgage was 5.21 percent this week, up from 5.08 percent a week earlier, Freddie Mac said Thursday. That’s the highest since mid-August, when the average rate was 5.29 percent.  [more]

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Image via Wikipedia

 The weekend of April 10-11 is REALTOR® Nationwide Open House Weekend.  REALTORS® and brokers across the nation are encouraged to participate in this campaign focused on increasing consumer awareness of the benefits of homeownership.  Participation is easy.  Schedule your open houses for April 10-11 and place balloons outside for potential buyers to see.  Please note this is not an NAR-sanctioned event, but was initiated by other state associations.

Nationwide Open House Weekend will enable sellers to showcase their homes for sale and potential home buyers to shop for a home while interest rates are low; home prices are affordable; there is a wide variety of homes available; and the federal tax credit is in place.

To find out more about participation in your area, contact your local association of REALTORS®.

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Number of Homes for Sale vs. Sold vs. Pending

February 2009 there were 1978 homes for sale in Stockton, California in comparison to February 2010 where there was a decrease to 847 homes for sale. The number of homes sold in February 2009 was 504 and in February 2010 the number of homes sold decreased to 324. In February 2009 there were 623 pending sales which increased to 661 in February 2010.

More graphs and charts from our MLS and TrendVision Reports

Image via Wikipedia

Here is some very good news for the California housing market! Check out HousingWire.com

Gov. Arnold Schwarzenegger signed a new bill this week that would extend the $10,000 homebuyer tax credit to Californians.

The state legislature on March 22 passed assembly bill (AB) 183, which gives the Franchise Tax Board authority to extend $200m in tax credits to homebuyers in the Golden State. Buyers of new, unoccupied homes are allocated $100m in credits, and first-time homebuyers of existing homes get another $100m.

The credit is extended from May 1, 2010 to Dec. 31, 2010. The credit is available to buyers on a first-come, first-serve basis, and it’s applied in equal amounts over a three-year period.  Read more

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House For Sale

On March 28, 2010 at 11:00 AM, you are invited to an Open House at 108 S Sinclair Avenue in Stockton. If you are looking for a Single-family property in this area, don’t miss this rare opportunity to visit this magnificent property.

Property description: Eastside Stockton 3 bedroom 1 bath home near Franklin High School. Older bungalow built in 1948 with newer carpets, granite kitchen counters and new interior paint. Includes lots of off street parking and a large well built carport. Also, includes a 2-car garage converted to a family room or guest house. The property is being sold to settle a family estate and is not a REO or short sale. Virtual Tour

For a preview of this Single-family property, check out my site at DaveThurman.com. Please do not hesitate to Contact Me if you have any questions or wish to schedule a private showing.