Wednesday, May 2, 2012
This weekend, Friday and Saturday, from 8:00 AM to 2:00 PM, you are invited to our office at 2652 East Main Street in Stockton. Join us and shop for household bargains…Our junk could be your treasure!
Monday, December 19, 2011
Number of Homes for Sale vs. Sold vs. Pending
November 2010 there were 1262 homes for sale in Stockton, California in comparison to November 2011 where there was a decrease to 919 homes for sale. The number of homes sold in November 2010 was 385 and in November 2011 the number of homes sold decreased to 354. In November 2010 there were 362 pending sales which increased to 494 in November 2011.
More graphs and charts from our MLS and TrendVision Reports
Stockton Real Estate – Dave Thurman
Tuesday, November 29, 2011
NEW YORK (CNNMoney) — Home prices continued to sink in the third quarter, falling to levels not seen since early 2003.
Home prices dropped 3.9% year-over-year during the three months ended Sept. 30, according to the S&P/Case-Shiller national home price index. On a quarterly basis, prices were slightly higher, squeezing out a 0.1% gain. [Read More]
Monday, November 28, 2011
Number of Homes for Sale vs. Sold vs. Pending
October 2010 there were 1259 homes for sale in Stockton, California in comparison to October 2011 where there was a decrease to 988 homes for sale. The number of homes sold in October 2010 was 349 and in October 2011 the number of homes sold increased to 361. In October 2010 there were 404 pending sales which increased to 567 in October 2011.
More graphs and charts from our MLS and TrendVision Reports
Stockton Real Estate – Dave Thurman
Wednesday, November 23, 2011
The Office of the Special Inspector General for the Troubled Asset Relief Program (SIGTARP) recently announced that it has shut down 85 alleged online mortgage modification scams that prey on vulnerable homeowners through Web banners and other Web advertisements.
SIGTARP investigates mortgage modification schemes in which companies charge struggling homeowners a fee in exchange for false promises of lowering the homeowner’s mortgage through TARP’s housing program known as the Home Affordable Modification Program (HAMP). Google, in cooperation with an ongoing criminal SIGTARP investigation of these scams, has suspended advertising relationships with more than 500 Internet advertisers and agents associated with the 85 alleged online mortgage fraud schemes and related deceptive advertising.
Fast Facts
Calif. median home price: October 2011: $278,060 (Source: C.A.R.)
Calif. highest median home price by region/county October 2011: Marin: $781,250 (Source: C.A.R.)
Calif. lowest median home price by region/county October 2011: Lake County: $96,500 (Source: C.A.R.)
Calif. Pending Home Sales Index: October 2011: 122., an increase of 3.1 percent compared with a prior year.
Calif. Traditional Housing Affordability Index: Third quarter 2011: 52 percent (Source: C.A.R.)
Mortgage rates: Week ending 11/17/2011 30-yr. fixed: 4.0% fees/points: 0.7% 15-yr. fixed: 3.31 fees/points: 0.7% 1-yr. adjustable: 2.98% Fees/points: 0.6% (Source: Freddie Mac)
Stockton Real Estate – Dave Thurman
Sunday, November 6, 2011
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
Stockton Real Estate – Dave Thurman
Saturday, November 5, 2011
Tuesday, November 1, 2011
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.
Wednesday, October 26, 2011
Thursday, October 20, 2011
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]
Stockton Real Estate – Dave Thurman