Sacramento Real Estate Talk|Real Estate information and news in Sacramento

Sacramento One Of Fifteen Cities With 99% Chance of Lower Prices

Forth Hoyt — Thu, 09 Jul 2009 11:52:16 +0000

Mortgage Insurer PMI Group said in its quarterly Economic and Real Estate Trends (ERET) report (see US Market Risk Index ) that the Sacramento—Arden-Arcade—Roseville CA real estate market has a 99.9% chance of lower home prices through March 31, 2011. The 15 Real Estate Markets with the highest probability of lower prices in 2011 each have [...]

Forth Hoyt — Tue, 07 Jul 2009 12:46:49 +0000

Mortgage Applications Decline, In Spite of Rate Drop

Forth Hoyt — Thu, 02 Jul 2009 12:40:02 +0000

Picked this up this morning From DSNews and I confirmed the information at Bankrate.com… According to Bankrate’s article: The benchmark 30-year fixed-rate mortgage fell 10 basis points, to 5.7 percent, according to the Bankrate.com national survey of large lenders. A basis point is one-hundredth of 1 percentage point. The mortgages in this week’s survey had an average [...]

Loan Modifications Way Up With A Dramatic Increase In Prime Borrowers Going Seriously Delinquent

Forth Hoyt — Wed, 01 Jul 2009 23:56:03 +0000

Loan Modifications and workouts have More than doubled in the past year! But they are being driven by more prime borrowers going delinquent. It has always been clear to me that this would happen as soon as the ARM’s and Pick-A-Pay loans started resetting. These borrowers are high income, high credit score homeowners who are [...]

Loan Modification: Be Carefull! Don’t Pay Until You Close!

Forth Hoyt — Wed, 01 Jul 2009 04:15:14 +0000

I talk to people almost daily all across the Sacramento area who have paid for a loan Modification with absolutely nothing to show for the money they spent. It seems that everywhere in California; especially where foreclosure filings are rampant like the Central Valley, Sacramento, Stockton, Modesto areas Loan Modification scams are rampant. Many will promise to give your [...]

California’s Latest Foreclosure Moratorium Will Barely Be felt

Forth Hoyt — Fri, 26 Jun 2009 21:51:44 +0000

With another highly publicized moratorium starting here in California on June 15th; many buyers, sellers, and real estate professionals have wondered how big the impact will be on the housing inventory here in the Sacramenot area. It seems the impact has already been felt and dealt with. Lenders and loan services that already have a comprehensive loan [...]

Sac International Airport’s Bond Rating Dropped by Second Credit Reporting Company

Forth Hoyt — Fri, 26 Jun 2009 00:34:35 +0000

Sacramento-area’s biggest construction project has hit a bit of financial turbulence, The two largest credit-rating companies recently downgraded bond ratings of Sacramento International Airport. The downgrades were done in anticipation of a $500 million airport bond sale this week. Standard Poor’s Rating Service downgraded revenue bonds for Sacramento International Airport, from “stable” to “negative” late Wednesday. The [...]

Foreclosures: Fast road to more problems or a way to stabilize the housing market?

Forth Hoyt — Thu, 25 Jun 2009 15:52:06 +0000

I picked this up on the LA Times blog this morning… Why not let foreclosures run their course so the home market can reset to a sustainable level — a sentiment often expressed on L.A. Land comment boards — was among questions asked of Shaun Donovan, secretary of the Housing and Urban Development Department, Thursday at [...]

We Save Homes To Acquire Mod Tech Co.

Forth Hoyt — Wed, 24 Jun 2009 21:32:05 +0000

From DSNews today Carrie Bay | 06.24.09 California-based We Save Homes, Inc. (WSHI), previously known as Global West Resources Inc., has signed a letter of intent to acquire the privately-held software technology company Homesaver and its platform, which assists homeowners with mortgage modification procedures. Andrew Kardish, WSHI’s chairman, said, “We are pleased to announce the pending acquisition [...]

Mortgage Bankers Association Lowers Originations Forecast

Forth Hoyt — Wed, 24 Jun 2009 11:54:52 +0000

Washington, DC (June 22, 2009) - The Mortgage Bankers Association today lowered its forecast of mortgage originations in 2009 to $2.03 trillion, a drop of over $700 billion from its March forecast. $84 billion of the drop is due to lower purchase originations and the rest is due to lower rate/term refinancings and very low [...]