Dave Thurman's Real Estate Blog

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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 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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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.

Open House

On March 21, 2010 at 11:00 AM, you are invited to an Open House at 3320 Greenwood 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 DaveThurman.com. Please do not hesitate to Contact Me if you have any questions or wish to schedule a private showing.

On March 14, 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.

Take a Virtual Tour

I have been searching the Internet, reading the local newspaper and analyzing my own recent listing / sales information trying to find something positive about the real estate market in Stockton, California and other parts of our country; but I think that I have failed!!!

• First-time buyers running out of time to use the $8000 tax credits
• Unemployment is high almost everywhere
• Americans have again lost faith in the government nationally & locally
• San Joaquin County listing inventory has decreased almost 60%
• Closed sales in the county are down 35%
• Median prices are up by over 10%

I refuse to give up…I will work weekends, hold open houses and go door knocking… just like a brand new agent! Please help me find something more positive to blog about next week. Please comment…are you out there?

Wow! Look what I found on the CAR (California Association of Realtors) website regarding foreclosures and short sales. Also, check out the info and progress of the statewide MLS (Multiple Listing Service).

California:

Press Enterprise: Inland foreclosure pressure eases; short sales rise
By Leslie Berkman
2/11/2010
In January, combined filings for defaults, trustee sales, and bank repossessions declined more than 24 percent in the Riverside and San Bernardino counties region. It was led by a nearly 50 percent decline in notices of default. Also, from December to January the amount of all foreclosure-related filings declined almost 13 percent.

National:

Los Angeles Times: U.S. aims to stop backing mortgages
By Walter Hamilton and Jim Puzzanghera
2/11/2010
The Federal Reserve plans next month to end a $1.25-trillion mortgage-bond-purchase program that has helped keep mortgage interest rates near a record-low 5 percent. 

Inman: ZipRealty: Fewer sellers slash prices
2/11/2010
Sellers reduced the asking price on 40.4 percent of available homes in January, down from 44.8 percent in December, to an average discount of $21,925, a rate of 6.54 percent lower than the month before, according to ZipRealty. The report covers 27 of 36 U.S. metropolitan areas in which the company operates.

As a proven real estate professional; I have often been asked why did you purchase a Realty World franchise? Especially, when many of the other larger real estate brokerages have been dropping the franchise and going independent. Well, there are many reasons…but here are a few of them.

• A successful and internationally recognized brand name
• A structured business operating system with proven technology, marketing, advertising and training
• The most successful online advertising program available in real estate
• Economies of scale on all types of products and services that are absolutely affordable for even a one-person office

The power of a brand name!

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…