Dave Thurman's Real Estate Blog

Realty World – Dave Thurman

Stockton Real Estate · Homes for Sale · REALTOR® Since 1976

On Saturday, January 14, 2012 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.

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

Hey Investors! Check out the latest from ForeclosureRadar…

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

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 15, 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!

I was reading “The Stockton Record” this morning as I usually do with my morning coffee…And I was again hit with the same old housing news! Will it ever end?

Reports show years of weakness for housing

New home sales are at 50-year low

WASHINGTON (AP) — Sales of new homes fell to a six-month low in August. The fourth straight monthly decline during the peak buying season suggests the housing market is years away from a recovery.

The Commerce Department said Monday that new home sales fell 2.3 percent to a sea­sonally adjusted annual rate of 295,000. That’s less than half the roughly 700,000 that econ­omists say must be sold to sus­tain a healthy housing market.

New homes sales are on pace for the worst year since the government began keeping records a half-century ago.

High unemployment, larger required down payments and tougher lending standards are preventing many people from buying homes. Plunging stocks and a growing fear that the U.S. could tip back into another reces­sion are also keeping people from entering the housing market.

Last year was also the fifth straight year that sales have fallen. It followed five straight years of record highs, when housing was booming.

Foreclosures and short sales — when lenders accept less for a house than a mortgage is worth — are forcing prices down. Those homes are selling at an average discount of 20 percent, and they are lowering neighboring home values. That’s made many re­sales a bargain compared with new homes, creating an average 30 percent disparity in prices.

All home sales remain weak. The August sales pace for pre­viously occupied homes was 5.03 million. That’s slightly above last year’s sales, which were the fewest since 1997. Economists say roughly 6 million older homes need to be sold each year to sus­tain a healthy housing market.

Home prices have dropped more since the recession started, on a percentage basis, than during the Great Depression of the 1930s. It took 19 years for prices to fully recover after the Depression.

Related articles

• New home sales hit six-month low in August
• August U.S. new homes sales fall
• Big housing blow: New home sales fall, again
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• US new house sales fall in August
• We’re On Pace For The Lowest New Home Sales Ever

Stockton Real Estate – Dave Thurman

On Saturday, August 27, 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 $299.
• First-time buyers and investors are welcome.

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Number of Homes for Sale vs. Sold vs. Pending

June 2010 there were 1088 homes for sale in Stockton, California in comparison to June 2011 where there was a decrease to 1062 homes for sale. The number of homes sold in June 2010  was 496 and in June 2011 the number of homes sold decreased to 354. In June 2010 there were 430 pending sales which increased to 616 in May 2011.

More graphs and charts from our MLS and  TrendVision Reports