Posts Tagged ‘Foreclosure’

Mar 10

Home-Saving Loans Afoot

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Hello,

The Wall Street Journal published an article about the pressure US banks are getting to ease terms for distressed homeowners on home-equity loans and other second-lien mortgages. At also brings up the Obama administration program due to begin in the next few weeks, where borrowers who get reduced payments on their first-lien mortgage through the administration’s Home Affordable Modification Program automatically would get a break on their second-lien mortgage.

For those people that don’t qualify for a loan modification in April, the administration is due to launch financial incentives to encourage alternatives to foreclosure.  The alternatives include short sales and so-called deeds in lieu of foreclosure, in which the borrower voluntarily gives up title to the home and often gets cash to help with moving expenses.

Here is the full article:

Home-Saving Loans Afoot

By JAMES R. HAGERTY

Pressure is growing on U.S. banks to ease terms for distressed homeowners on home-equity loans and other second-lien mortgages.

Rep. Barney Frank, chairman of the House Financial Services Committee, last week sent a letter to the four biggest U.S. banks demanding “immediate steps to write down second mortgages.” The Massachusetts Democrat sent the letter to Read the rest of this entry »

Mar 8

Real Estate Overview For Week Ending 3/3/2010

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Hello,

Here is the new real estate overview as per Trulia:

Livermore Summary

Average price per square foot for Livermore CA was $236, a decrease of 2.5% compared to the same period last year. The median sales price for homes in Livermore CA for Dec 09 to Feb 10 was $360,000 based on 247 home sales. Compared to the same period one year ago, the median home sales price decreased 2.7%, or $10,000, and the number of home sales decreased 22.8%.

There are currently 188 resale and new homes in Livermore as per Trulia, including 449 homes in the pre-foreclosure, auction, or bank-owned stages of the foreclosure process. The average listing price for homes for sale in Livermore CA was $685,035 for the week ending Mar 03, which represents an increase of 0.4%, or $2,483, compared to the prior week.

Mountain House Summary

Average price per square foot for Mountain House CA was $120, a decrease of 8.4% compared to the same period last year. The median sales price for homes in Mountain House CA for Dec 09 to Feb 10 was $300,000 based on 152 home sales. Compared to the same period one year ago, the median home sales price decreased 4.8%, or $15,000, and the number of home sales decreased 16%.

There are currently 65 resale and new homes in Mountain House as per Trulia, including 224 homes in the pre-foreclosure, auction, or bank-owned stages of the foreclosure process. The average listing price for homes for sale in Mountain House CA was $334,682 for the week ending Mar 03, which represents a decrease of 0.1%, or $387, compared to the prior week.

Tracy Summary

Average price per square foot for Tracy CA was $120, a decrease of 0.8% compared to the same period last year. The median sales price for homes in Tracy CA for Dec 09 to Feb 10 was $234,436 based on 620 home sales. Compared to the same period one year ago, the median home sales price increased 0.6%, or $1,436, and the number of home sales decreased 28.7%.

There are currently 292 resale and new homes in Tracy as per Trulia, including 1,102 homes in the pre-foreclosure, auction, or bank-owned stages of the foreclosure process. The average listing price for homes for sale in Tracy CA was $305,577 for the week ending Mar 03, which represents a decrease of 0.2%, or $571, compared to the prior week.

Lathrop Summary

Average price per square foot for Lathrop CA was $91, a decrease of 1.1% compared to the same period last year. The median sales price for homes in Lathrop CA for Dec 09 to Feb 10 was $182,500 based on 203 home sales. Compared to the same period one year ago, the median home sales price decreased 4.3%, or $8,125, and the number of home sales decreased 39.9%.

There are currently 84 resale and new homes in Lathrop as per Trulia, including 295 homes in the pre-foreclosure, auction, or bank-owned stages of the foreclosure process. The average listing price for homes for sale in Lathrop CA was $195,398 for the week ending Mar 03, which represents a decrease of 0.9%, or $1,711, compared to the prior week.

That’s it for now!

Remember to come back tomorrow for more!

And once again:  if you are planning to buy a house or sell your house call me!!  I am only a phone call away!

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Sharing the weekly real estate overview with you!

Virginia R. Hoato
Realty World – Blue Property Group, Inc
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Mar 1

Real Estate Overview For Week Ending 2/24/2010

 | 2 comments

Hello,

Here is this weeks real estate overview as per Trulia:

Livermore Summary

Average price per square foot for Livermore CA was $235, a decrease of 5.6% compared to the same period last year. The median sales price for homes in Livermore CA for Nov 09 to Jan 10 was $372,750 based on 358 home sales. Compared to the same period one year ago, the median home sales price increased 0.5%, or $1,750, and the number of home sales increased 9.8%.

There are currently 181 resale and new homes in Livermore as per Trulia, including 468 homes in the pre-foreclosure, auction, or bank-owned stages of the foreclosure Read the rest of this entry »