On June 13, 2010 at 11:00 AM, you are invited to an Open House at 2447 E Fremont Street 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 RealtyWorldDaveThurman.com. Please do not hesitate to Contact Me if you have any questions or wish to schedule a private showing.

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Homeowners defaulting on mortgages today may be surprised to learn years from now that they still owe thousands of dollars – and a collection agency is coming after them to get it.

That’s because lenders have been quietly selling second mortgages and home equity lines left unpaid after foreclosures and short sales. The buyers: collection agencies, which in California have up to four years to make a claim.

If they win court judgments, these collectors could have years to pursue borrowers with repayment plans, and even garnish their wages, … read more  from Sacramento Bee, Real Estate by Jim Wasserman.

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More news for the housing market…I found this article today on Recordnet.com 

WASHINGTON (AP) — Sales of new homes plunged to a record low in January, underscoring the formidable challenges facing the housing industry as it tries to recover from the worst slump in decades.

The Commerce Department reported Wednesday that new home sales dropped 11.2 percent last month to a seasonally adjusted annual sales pace of 309,000 units, the lowest level on records going back nearly a half century. The big drop was a surprise to economists who had expected sales would rise about 5 percent over December’s pace. Read more if you like bad news…

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Home prices fell in November for the first time in seven months, according to a industry report released Tuesday.

The S&P/Case-Shiller 20-city home price index recorded a decline of 0.2% from October. Prices were down 5.3% compared with 12 months ago. Read more from CNN.com…

Image via Wikipedia

I found this fascinating quote today:

We have already seen the real estate market improve every quarter of this year to date, stimulated by the tax credit, great mortgage rates, and moderate prices. Though the lack of mortgage liquidity negatively impacted the attempts of some buyers to gain entry to home ownership, on the whole , the true worry was whether the gains in the market would be sustainable – with the extension of the tax credit through the spring, that question would be answered.Bill Lublin, MOVEPHILLY, Oct 2009

 You should read the whole article.

 

Image via Wikipedia

When I started in the real estate business many years ago; finding a customer or client was easy! I picked out a neighborhood that seemed likely to me that someone would need an eager real estate agent and I knock on the door and left my business card. If, I left enough cards with a little note on the back, eventually I would have some call backs about why I was at their home. I always tell the truth!!! I told the caller that I was looking for new clients who might be interested in buying or selling a home; and I was wondering if they knew anybody! This is known as “Door Knocking” which can work well for the agent and also for the customer who wants a hard working real estate agent.

I’m not sure if door knocking works today, because I have not done it on a regular basis for about 25-30 years. Also, most of the sellers’ these days are banks that usually are a little difficult to find. I’m not really sure where their front door is!

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