Dave Thurman's Real Estate Blog

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Little Change in California, as Nevada and Washington Foreclosure Starts Plummet

On Saturday, November 12, 2011 at 2:00 PM, you are invited to an Open House at 511 N Filbert Street in Stockton. If you are looking for a Single-family Home in this area, don’t miss this rare opportunity to visit this magnificent property. For a preview of this Single-family Home, check out my Web site. Please do not hesitate to Contact Me if you have any questions or wish to schedule a private showing.

511 N Filbert Street, Stockton CA 95205

Affordable and inside all updated better than brand new! Newer dual pane windows, carpets, ceramic tile, fixtures, paint and much more. Great East Stockton location within walking distance of Fremont Center Shopping District. This is not a bank owned home (REO) or a “Short Sale” Asking…$55,500…Host Dave Thurman

Number of Homes for Sale vs. Sold vs. Pending

September 2010 there were 1326 homes for sale in Stockton, California in comparison to September 2011 where there was a decrease to 1076 homes for sale. The number of homes sold in September 2010  was 384 and in September 2011 the number of homes sold increased to 402. In September 2010 there were 422 pending sales which increased to 479 in September 2011.

More graphs and charts from our MLS and  TrendVision Reports

Shaklee – Dave Thurman

By Kala Bell, a recent college graduate majoring in creative writing

Image via Wikipedia

Potential home owners often find the proper time to buy is different for every situation. Some real estate agents find it necessary to highlight every month as a “time to buy” when in reality, every individual family or person interested in buying a home is bringing a new background and needs to the table. The time to buy is not only different for every single home buyer, but is also determined by much more than just the most recent statistics and trends from the local real estate market.

In the home buying process, it’s necessary to consider a host of different things when making the proper decision. For example, in Sacramento buyers would be wise to take into account a set of primary matches such as financing, income, recent trends and location. There are certainly a number of other factors that can also come into play; however outlining some initial bases to cover allows the process to run much smoother in the long run.

This year, the Sacramento inventory might not look like a buyer’s paradise, however some of the statistics may match up better for some than others. After much of the nation’s real estate markets dropped a few years back, the market has continued to stay level for the most part in the past two years. The median sale price in Sacramento is $190,000 and they’ve continued to stay steady as well. Another possible factor for potential home owners is the fact that Sacramento apartments are seeing average rent go up. In the past year, the rent has gone up $100, coming close to $980 a month.

The Sacramento market has experienced the same ups and downs that have been present throughout the country, but steady prices for the past three years are certainly telling as well. Some of the markets hit the roughest have continued to fall over time, but Sacramento hasn’t for the most part. While some do believe 2012 will mark a real estate revival, any chance of a total resurgence will largely remain unknown and too hard to predict.

Sacramento’s inventory has gone up with houses in the median price range over time. In the past year, a small dip has hit the total inventory numbers, but the overall rise in the past few years is still telling, because prospective buyers still have plenty of houses to choose from. With a continued overall rise in inventory in the last few years and rent continuing to rise, prospective buyers could start moving more in early 2012.

Regardless of whether or not the statistics and averages of the Sacramento market are perfect for a prospective buyer, the important factors of home buying will always take top priority in the process of finding a home. The difference in every situation will allow the many interested buyers to make different decisions. In the end, there isn’t a truly universal time for buying a home, but simply a right time for each potential buyer. This time is not necessarily determined by statistics and trends in real estate, as much as it is the situation and background of the buyer.

By Peter Ottesen

Record Correspondent

October 26, 2011

SACRAMENTO – Salmon fishing is like the “good old days” in the Central Valley this autumn, and no greater concentration of big, rod-straining kings is found anywhere than on the upper American River. Every hole from the Grist Mill to Sunrise is loaded with salmon returning to their river of origin to spawn.

It’s a time to celebrate. Fishing this season for fall-run kings represents a restoration of traditional salmon fishing throughout the state. It’s the first since 2008, when recreational angling was halted because of sagging populations due to poor conditions in the ocean and a lack of food sources.

“Salmon are so resilient and their rebound is a testimony to the resource,” said Mike Pate of Lodi, an expert angler. “This is an epic year for salmon and a tremendous boost to recreational sport fishermen and women who are able to catch fish for the first time in three years.”  [Read More]

Wow! Salmon fishing is back in northern California…check out the article which ran in “The Record” newspaper last week. The above photo was from a fishing trip on the Sacramento River near Isleton a few years ago. I was lucky enough to be on a trip with an old high school buddy who is an “expert” fisherman and who also knows how to find the fish!

Stockton Real Estate – Dave Thurman

Realty World – Dave Thurman

On Saturday, October 29, 2011 from 12:00 Noon to 4:00 PM, you are invited to our Open Office at 2652 East Main Street in Stockton. If you are looking for residential, commercial, or investment properties in this area, don’t miss this opportunity to visit and meet with Dave Thurman, REALTOR®. Appointments are not necessary!

• Pick up a free list of homes!
• Foreclosure auction dates & information.
• Get pre-qualified for a home loan.
• Ask questions about foreclosures and short sales.
• Discuss agency and disclosure requirements.
• Become a member & start up your own Shaklee business
• First-time buyers and investors are welcome.

Citigroup paying $285M to settle SEC fraud charges

WASHINGTON (AP) — Citigroup has agreed to pay $285 million to settle civil fraud charges that it misled buyers of complex mortgage investments just the housing market was starting to collapse.

The Securities and Exchange Commission said Wednesday that the big Wall Street bank bet against the investors in 2007 and made $160 million in fees and profits. Investors lost millions.

The payment includes the fees and profit Citigroup earned, $30 million in interest and a $95 million penalty. The money will be returned to investors in the deal, the SEC said.

Citigroup neither admitted nor denied the SEC’s allegations in the settlement.

“We are pleased to put this matter behind us and are focused on contributing to the economic recovery, serving our clients and growing responsibly,” Citigroup said in a statement.

The penalty is the biggest targeting Wall Street firms that mislead investors ahead of the 2008 financial crisis since Goldman Sachs & Co. paid $550 million to settle similar charges last year. JPMorgan Chase & Co. also settled similar charges in June and paid $153.6 million.

All of the cases have involved so-called collateralized debt obligations. Those are securities backed by pools of other assets.

In a civil lawsuit filed Wednesday, the SEC said Citigroup traders discussed in late 2006 the possibility of buying financial instruments to essentially bet on the failure of the mortgage assets being put together in the deal.

Rating agencies downgraded most of the investments that Citigroup had bundled together just as many homeowners stopped paying their mortgages in late 2007. That pushed the investment into default and cost its buyers — hedge funds and investment managers — several hundred million dollars in losses.

Among the biggest losers were Ambac, a bond insurer, and BNP Paribas, a European bank. Ambac had sold Citigroup protection against losses on the investment, allowing Citigroup to bet against it.

I found this article reading [recordnet.com]

On Saturday, October 22, 2011 at 2:00 PM, you are invited to an Open House at 2335 E Lafayette Street in Stockton. For a preview of this Home, 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.

2335 East Lafayette Street, Stockton CA 95205

Custom Built Home plus Rental or Guest House on double 100×115 alley lot in East Stockton near Filbert Street and Hwy 4 Crosstown Freeway. Lots of off street driveway space and garages off alley. Very secured with wrought iron fences, windows, doors and alarm service. Main house is 3-bedroom 2-bath with a bedroom converted to an office. Includes formal dining, fireplace and central heat/air. Rental / Guest House is 1-bedroom 1-bath. This is a One-Of-A-Kind property being sold by the original owner/occupant/builder. Priced right at $99,500. See a virtual tour!