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

Home Buyer Tax Credit Extended, Expanded

Forth Hoyt — Wed, 11 Nov 2009 16:17:52 +0000

Home Buyer Tax Credit Extended, Expanded The extension of the first-time home buyer tax credit will help continue to clear out inventory, but expanding the credit to include more buyers may not be as helpful in high-cost housing areas. President Barack Obama recently signed legislation that extends the deadline on the first-time home buyer tax credit [...]

Fence-Sitters Beware: There is No ‘Shadow Inventory’ and No ‘Tsunami’ Coming…

Forth Hoyt — Mon, 09 Nov 2009 23:35:53 +0000

The shadow inventory that people have been talking about for so long… I have lost buyers (who just got so lethergic and wishy-washy and finally decided waiting was better than buying) because of the fear that somehow a spigot of homes was going to be turned on and flood the market, driving real estate prices [...]

Sate Pulls Reedevelopment Funds; Gets Sued…

Forth Hoyt — Mon, 09 Nov 2009 18:31:36 +0000

The state’s decision to pull redevelopment funds to solve its budget problems is effecting redevelopment plans in cities throughout the region. For the second time in Less than two years, California Redevelopment Association has filed a lawsuit against the state over the states plan to take more than $2 billion from the state’s redevelopment agencies to balance [...]

Sacramento Trustee Sale Postponements and Face to Face Requirements

Forth Hoyt — Mon, 09 Nov 2009 18:13:35 +0000

I was visiting with a good friend the other day who attends the Sacramento trustee auctions downtown (Yes, they really have a live auction, some days there are three separate sales going on simultaneously at 720 9TH ST; downtown Sacramento) he said he is still seeing more than 7 out of ten sales being postponed. For [...]

More Community Banks Closed by FDIC

Forth Hoyt — Mon, 09 Nov 2009 17:15:01 +0000

FDIC has taken over 120 banks so far this year… Came across this article in DSNews this morning and thought I’d re-post it… Bank failures continue to mount, even as the U.S. economy is beginning to show signs of improvement. Regulators on Friday shut down five more institutions – in California, Georgia, Michigan, Minnesota, and Missouri. [...]

Sacramento Valley Small Towns Previously Sheltered are Now Hit Hard With Foreclosure Crisis

Forth Hoyt — Wed, 04 Nov 2009 22:02:33 +0000

Sacramento Valley and San Juaquin Valley small towns that have been hit hard by unemployment are seeing a dramatic increase lately in foreclosure filings. I came across this article today and though I’d pass it along… The foreclosure crisis in the US is moving into small towns and suburbs which have previously been untouched by the economic [...]

Third Foreclosure Wave Hits Areas Of Stability…

Forth Hoyt — Tue, 03 Nov 2009 18:11:58 +0000

A report from RealtyTrac says dramatic increases in foreclosures in Q3 ‘09 came in suburban areas previously believed to be stable, such as Boise, Idaho, up nearly 22% from Q209, and Provo, Utah, which rose nearly 11% in the same period. In several states, foreclosure activities drifted toward smaller towns with previously self-sustaining industries. Chico, [...]

Be careful when messing around with supply and demand

Forth Hoyt — Sat, 31 Oct 2009 20:23:42 +0000

Sacramento has had more than one real estate bubble and this won’t be the last– Supply and demand will always prevail. Our area is not the only one that seems to have a short memory… Found this great article today and thought I’d share it. by Randy Bright Bubba was a manager overseeing maintenance work on his city’s [...]

Fannie Mae / California Firm Says Delinquency Rates Up

Forth Hoyt — Fri, 30 Oct 2009 19:40:42 +0000

Last Month’ 9129/09 from Calculated Risk; Fannie Mae reported that the serious delinquency rate for conventional loans in its single-family guarantee business increased to 4.17 percent in July, up from 3.94 percent in June - and up from 1.45% in July 2008. “Includes seriously delinquent conventional single-family loans as a percent of the total number of [...]

California Campaign Targets Loan Modification Scams

Forth Hoyt — Thu, 29 Oct 2009 19:39:37 +0000

LATIMES: A national housing nonprofit has launched an education campaign in Southern California to combat scams targeting homeowners in peril of foreclosure. Loan modification fraud is on the rise, costing troubled homeowners thousands of dollars up front for mediation and counseling services that are provided free by federally approved nonprofits, Eileen Fitzgerald, chief operating officer of [...]