Dave Thurman's Real Estate Blog

I have often been asked…”Why did you purchase a Realty World franchise when you were already established as a successful real estate broker?

Realty World – Dave Thurman

Number of Homes for Sale vs. Sold vs. Pending

May 2010 there were 980 homes for sale in Stockton, California in comparison to May 2011 where there was an increase to 1098 homes for sale. The number of homes sold in May 2010  was 411 and in May 2011 the number of homes sold decreased to 358. In May 2010 there were 422 pending sales which increased to 584 in May 2011.

More graphs and charts from our MLS and TrendVision Reports

The Federal Housing Finance Agency (FHFA) recently released its third Report to Congress, detailing the findings of the agency’s 2010 annual examinations of Fannie Mae, Freddie Mac, the 12 Federal Home Loan Banks (FHLBanks), and the FHLBanks’ Office of Finance.

“Since being placed under conservatorship in 2008, Fannie Mae and Freddie Mac remain critical supervisory concerns,” FHFA Acting Director Edward J. DeMarco wrote to Congress.

“These ratings are a result of continuing credit losses in 2010 from loans originated during 2005 through 2007 as well as forecasted losses from loans originated during that time. As a result of the conservatorships, federal government support and an improved corporate governance structure, the Enterprises accomplished their statutory mission of facilitating stability and liquidity for single-family and multifamily housing finance.”

Other details in the 2010 Report to Congress:

• Key challenges facing Fannie Mae and Freddie Mac include, but are not limited to: credit risk, operational risk, modeling risks and retention of qualified leadership and personnel.
• In 2010, GSE losses totaled $28 billion. The GSEs completed 950,000 loan modifications and other foreclosure alternative actions in 2010.
• All FHLBanks recorded positive annual earnings in 2010, though some recorded losses in individual quarters. Advances (loans to members) at year-end 2010 totaled $479 billion, down from $631 billion at year-end 2009.
• The 2010 financial condition and performance of the FHLBanks stabilized but several FHLBanks continued to be negatively affected by their exposure to private-label mortgage-backed securities.

The above was brought to you from our California Association of REALTORS ®

C.A.R. Member Benefit #14: C.A.R. Newsline is a weekly e-newsletter covering vital industry information including economic reports, legislative developments, and new real estate products and services.

Here is my latest foreclosure report from ForeclosureRadar. Please check out their website!

06/14/2011 – Third party investors resold the homes they previously purchased at auction at a faster pace throughout our coverage area. As the most sophisticated and motivated homesellers in the marketplace, these investors provide an important indicator as to the health of the entire housing market. While the statistic is encouraging, it’s too early to tell whether it is a turning point from the otherwise recent downward trend within the housing market. [Read More]

Open House ~ My Office at 2652 East Main Street, Stockton CA 95205

Saturdays 11AM – 2PM and Monday Evenings 5PM – 7PM

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®. Also, learn all about a Shaklee membership. Come Join Us! Appointments are not necessary!

• Pick up “Dave’s List” of homes for sale!
• Foreclosure auction dates & information.
• Get pre-qualified for a home loan.
• Discuss agency and disclosure requirements.
• First-time buyers and investors are welcome.
• Get discounts & become a Shaklee member.
• Start your own business for only $299.
• Earn vacation trips, a new car & live healthier!

Stockton Real Estate – Dave Thurman

Open House ~ My Office at 2652 East Main Street, Stockton CA 95205

Saturdays 11AM – 2PM and Monday Evenings 5PM – 7PM

Join us! 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®. Also, learn all about a Shaklee membership. Appointments are not necessary!

• Pick up “Dave’s List” of homes for sale!
• Foreclosure auction dates & information.
• Get pre-qualified for a home loan.
• Discuss agency and disclosure requirements.
• First-time buyers and investors are welcome.
• Get discounts & become a Shaklee member.
• Start your own business for only $299.
• Earn vacation trips, a new car & live healthier!

Image via Wikipedia

Wouldn’t it be nice if this post was all about an ice cream cone or my favorite ice cream parlor. I think there must be a dive into the swimming pool called a “double-dip”… or maybe if a person got fired from the same job two times. How about a person getting married and divorced from the same person two times within a relatively short time period, that must be a “double-dip”?

Investopedia explains Double-Dip Recession:
The causes for a double-dip recession vary but often include a slowdown in the demand for goods and services because of layoffs and spending cutbacks from the previous downturn.

A double-dip (or even triple-dip) is a worst-case scenario. Fear that the economy will move back into a deeper and longer recession makes recovery even more difficult.

• LOS ANGELES (AP) May 17, 2011 – California home market remains in a funk. Sales, prices fall; foreclosures are less of a factor.
• NEW YORK (AP) May 17, 2011 – Forcasts for growth in economy not as rosy. High gas prices, lower GDP seen.
• WASHINGTON – May 29, 2011 – The Associated Press By Derek Kravitz – Stung by downturn, home buying no option for many. Percent of those owning homes at 12-year low. The population of U.S. households that owns homes is at its lowest point since 1998.

Related articles

• Housing Prices will likely Lead to Double Dip Recession
• Does Tim Pawlenty Expect A Double Dip Recession?
• On the brink of a British double-dip
• A Double Dip Recession May Be Inevitable

Number of Homes for Sale vs. Sold vs. Pending

April 2010 there were 884 homes for sale in Stockton, California in comparison to April 2011 where there was an increase to 1052 homes for sale. The number of homes sold in April 2010  was 457 and in April 2011 the number of homes sold decreased to 387. In April 2010 there were 531 pending sales which increased to 606 in April 2011.

More graphs and charts from our MLS and TrendVision Reports

Open House – My office at 2652 East Main Street, Stockton CA 95205

On Saturday, May 21st, 2011 from 11:00 AM to 2:00 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.
• First-time buyers and investors are welcome.

Foreclosure Sale!

ForeclosureRadar sent me an email today regarding recent information in California. I hope this activity report is helpful to you in making a real estate buying or selling decision.

Foreclosure filings in California fell to lows not seen since the fall of 2008. Notice of Default filings dropped 25.8 percent, and Notice of Trustee Sale filings fell 10.9 percent from March. On a year-over-year basis foreclosure filings were down as well, with Notice of Default filings down 28.0 percent and Notice of Trustee Sale filings falling 31.2 percent from April 2010. Foreclosure sale cancellations rose 27.0 percent from March. Acivity on the courthouse steps slowed from the prior month, with 17.2 percent fewer sales Back to Bank and a 15.8 percent drop in properties purchased by 3rd Parties, typically investors. The average Time to Foreclose continued to climb, increasing 3.3 percent to 312 days.  ForeclosureRadar.com