Archive for the ‘Featured’ Category
Real Estate Update Dec ‘09
On December - 4 - 2009
Contact Lee Williams, Keller Williams Realtor (310) 882-5428 LeeWilliams@KW.com DRE#01726182
California Mortgage Defaults Jump to Record High
On April - 22 - 2009
Repost from DQNews.com
La Jolla, CA.–Lenders filed a record number of mortgage default notices against California homeowners during the first three months of this year, the result of the recession and of lenders playing catch-up after a temporary lull in foreclosure activity, a real estate information service reported.
A total of 135,431 default notices were sent out during the January- to-March period. That was up 80.0 percent from 75,230 for the prior quarter and up 19.0 percent from 113,809 in first quarter 2008, according to MDA DataQuick. Read the rest of this entry »
President Obama’s Mortgage plan (Text from today’s speech)
On February - 18 - 2009
“Today, as a result of declining home values, millions of families are “underwater,” which means they owe more on their mortgages than their homes are worth. These families are unable to sell their homes, and unable to refinance them. So in the event of a job loss or another emergency, their options are limited.
“Right now, Fannie Mae and Freddie Mac — the institutions that guarantee home loans for millions of middle-class families — are generally not permitted to guarantee refinancing for mortgages valued at more than 80 percent of the home’s worth. So families who are underwater — or close to being underwater — cannot turn to these lending institutions for help.
“My plan changes that by removing this restriction on Fannie and Freddie so that they can refinance mortgages they already own or guarantee. This will allow millions of families stuck with loans at a higher rate to refinance. And the estimated cost to taxpayers would be roughly Read the rest of this entry »
Mortgage Update - American Recovery and Reinvestment Act of 2009
On February - 16 - 2009
President Obama will sign into law the $787 Billion stimulus bill tomorrow in Denver. There are a number of provisions in this plan that affect California home owners including:
FHA, Fannie Mae and Freddie Mac Loan Limits -The bill reinstates last year’s 2008 loan limits for FHA, Freddie Mac, and Fannie Mae loans. These limits were equal to the greater of 125% of the 2008 local area median home price or $271,050 for FHA and $417,000 for Fannie and Freddie, with an overall maximum cap of $729,750. For the few areas where Read the rest of this entry »
Mortgage Minute - February - Bay Area
On January - 28 - 2009
4.5% Fixed Rate Mortgages
On January - 26 - 2009
The media picked up on the prospect of 4.5% fixed mortgages back in November causing a lot of people to wait for rates to come down to this level before refinancing. 11 straight weeks of interest rate drops lead us to 4.5% fixed rate mortgages for the first time ever!!! Yay! But that celebration was short lived as rates jumped back up about a half a percent later that same week. Boo!!! Fundamentally pressures on interest rates are sound with much of the increase coming from banks trying to unclog their pipelines. So many people rushing to refinance caused most lenders to slow things up a bit by raising rates.
Also, there is a chance of a rate drop again this week as the Fed sits in a two day meeting focused on further helping to shore up the crumbling credit markets and build investor confidence. The $500 Billion dollars committed to buying Mortgage Backed Securities has lead us to record lows in interest rates.
Now here’s the bad news. First, with 50% of all home sales in the Bay Area Read the rest of this entry »
Bay Area Home Sales Up, Prices Down
On January - 13 - 2009
DataQuick Information Systems, www.DQNews.com
La Jolla, CA.—-Bay Area home sales decelerated in November but beat the year-ago mark for the third consecutive month. The allure of discounted foreclosures continued to drive sales in affordable inland markets, which helped push the median sale price down to its lowest point since former President Bill Clinton was in the White House.
The median price paid for all new and resale houses and condos combined in the nine-county Bay Area fell to $350,000 last month. That was down 6.7 percent from $375,000 in October and down a record 44.4 percent from $629,000 in November 2007, according to MDA DataQuick, a San Diego-based real estate information service.
The November median sale price - the point where half of the homes sold for more and half for less - stood at its lowest since it was $350,000 in September 2000. It was 47.4 percent below the peak median of $665,000 reached last year in June and July.
The median has fallen on a year-over-year basis for 12 consecutive months, yanked lower by several factors: price depreciation; a shift toward more sales in the less-expensive inland markets; slower high-end sales; and buyers’ preference for lower-priced foreclosures.
Last month 47.6 percent of all homes that resold in the Bay Area had been foreclosed on at some point in the prior 12 months, up from 44.0 percent in October and 10.1 percent a year ago.
Visit DQNews.com for the full article.
Your Mortgage Minute - Bay Area - January 2008
On January - 13 - 2009
Paul Potts Inspiration
On December - 23 - 2008
“I keep waiting for someone to pinch me and say ‘Wake up, Paul, it’s time for work - you’re late again’. I feel like I’m on a rollercoaster - a white knuckle ride into the unknown. And I don’t want to get off!”
Britain’s Got Talent winner Paul Potts has spent most of his life feeling ‘insignificant’ Read the rest of this entry »
Tony Robbins at the TED Conference
On December - 8 - 2008
Tony Robbins explains how to unlock your true potential, and asks the audience (including former Vice President Al Gore) for a bit of high-level interaction. Robbins is a leading expert in leadership psychology, and one of America’s most popular public speakers. (Recorded February 2006 in Monterey, CA. Duration: 22:30) - More TED Talks at http://www.ted.com
Economic Recovery Plan
On December - 6 - 2008
President-elect Barack Obama lays out key parts of Economic Recovery Plan
