24. February 2012 by Michael McFarlane.

It seems that the general consensus is yes.  And that would make sense.  In order to get elected one must at least appear to be in agreement with the populace.  Actually getting things done doesn’t hurt either.

What about the “Shadow Inventory”?  We have discussed this before, and feel that things are on track for recovery.  According to a recent post by Inman News David Crowe ( $ read it here), chief economist for the National Association of Realtors (NAR), up to 3 million displaced home owners are currently renting or living in shared housing (family, friends, etc.) situations.  As the general economy improves these people will again purchase homes, greatly aiding the rate of economic recovery.

Use of the Internet will also speed up the recovery compared to times past.  Never before have we had such an economical means to reach so many people.  And it is done at the speed of light!  This means that there is still time for things to actually happen before the elections.

While there are many opinions as what to do, how to do them, and who should do them, the fact that this is a election year means that things should get done.  This is not the place for a political debate, but our opinion is that all parties, wanting votes, will do something positive.  And that is a good thing!

How does this effect you? Do you have questions about YOUR best action? Contact us today for your free, no obligation consultation.

For ALL your real estate related needs and/or questions call ((530 315-2808), send us an * email, or visit us8 on line at EncoreRES.com (Encore Real Estate Services) or any of the links below.

Please note: all visits to our sites are secure AND confidential. We do NOT force registration or track your activity!

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              Search the MLS               Over the Back Fence

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16. February 2012 by Michael McFarlane.

Recent reports show economic disasters around the world.  The Euro is up, down, uncertain.  Greece is being offered an out that spells disaster either way it goes according to some.  Germany and others have threatened to exclude themselves from the young market.

Asian economies don’t seem to be doing much better.  As other economies have dropped, the need for tech production has plummeted.  That, being the basis of Asia’s new-found rapid wealth building, has had very negative effect on their status.

The rescue attempts at home have come under fire.  But, in all fairness, that is the American way.  And while we don’t think government has any place in business, it is their job (read our job collectively) do help us do what we cannot do for ourselves individually.  Recent reports show that there may be a light at the end of this tunnel.  And while not at hand, it is at least visible.

According to a recent article by Lou Barnes in Inman News ( $ read it here) one of the factors aiding in our recovery is the forced low rate of return on securities.  By holding this rate lower than desired investors are being encouraged to look at slightly riskier investments.  Investments, by nature, carry some risk.  It is their natural order to proportion gain and risk.

A full lesson in economics is beyond the scope of this article, and frankly our complete understanding to the point that we would feel comfortable teaching it.  What we do see is that our recovery does indeed seem to be progressing.  Like any healing, it is a slow process.  It does not happen over night.  But it is happening.

Homes are being sold on the open market.  Foreclosure prospects are being offered alternatives.  Short Sales are becoming more manageable.  As things improve more, interest rates will begin to climb again.  Home prices will likely remain close to their current levels for the foreseeable future.  Jobs are beginning to open back up.  Silicon Valley is actually at higher employment numbers than before the crash in some reports.

How does this effect you? Do you have questions about YOUR best action? Contact us today for your free, no obligation consultation.

For ALL your real estate related needs and/or questions call ((530 315-2808), send us an * email, or visit us8 on line at EncoreRES.com (Encore Real Estate Services) or any of the links below.

Please note: all visits to our sites are secure AND confidential. We do NOT force registration or track your activity!

Subscribe to Listings Updates       Free Home Warranty

       Search the MLS       Over the Back Fence

Home Rescue Group            Free Home Market Analysis

          Yuba-Sutter Real Estate Today

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5. February 2012 by Michael McFarlane.

The members of our military preform a valuable service to our nation (us).  Because of that they are treated a bit differently than the general population.  There are programs to help with crisis & stress, housing, etc.  Since their needs are often very different than the general population’s, many programs do not fit their situations.

Foreclosure prevention is one such case.  A group of investors, insurers, and others have gotten together to come up with a plan to help this segment of our population.  The group just completed a brainstorming session according to HOUSINGWIRE ($ read it here).  Topics covered were getting those in need to attorneys, housing authorities, and others able to help their specific situations.

With Beale right in our back yard, we think these programs can have a a positive effect in our area.  We think it is good that those we depend so heavily upon will have such help available.  As always, we are interested in your opinions and point of view.  Please leave your comments below.

How does this effect you? Do you have questions about YOUR best action? Contact us today for your free, no obligation consultation.

For ALL your real estate related needs and/or questions call ((530 315-2808), send us an * email, or visit us8 on line at EncoreRES.com or any of the links below.

Please note: all visits to our sites are secure AND confidential. We do NOT track your activity!

Subscribe to Listings Updates        Free Home Warranty

             Search the MLS                               Over the Back Fence

Home Rescue Group                  Free Home Market Analysis

                     Yuba-Sutter Real Estate Today

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3. February 2012 by Michael McFarlane.

In our last post we highlighted some of the confusion in the refinance spotlight, and some hope.  A post today in the Los Angeles Times: Business ($read it here) announced another attempt by the federal government to get the housing industry woes behind us.

One of the things hindering the purchase of foreclosed homes is the lack of qualified buyers.  As homeowners loose their homes to foreclosure they are forced to become renters (or share residence with family and/or friends).  Even owners who complete a short sale are removed from the buying population for a period, although generally about 1/2 the time of a foreclosure.

The new plan from the FHA includes assistance for investors that would turn these foreclosed homes into rentals.  That would help with the over-inventory of homes coming to market; the fabled ghost inventory.  It would help the economy get moving again, and help our neighborhoods.  The plan has yet to go before congress and is not expected to be an easy sell, but there is hope.

Another section of the proposed new plan is to streamline the refinance process.  Two major gains here would be the reduction of time to get an approval (or rejection) and the added hope that it can actually be done.  Today’s processes, even though much improved over previous times, still causes some to just quit, or not even start the process.

Combined with the underwater assistance (see yesterday’s post) the need for a current appraisal is removed.  Likewise the income verifications; simply proof of a job.  One requirement for all this streamlining is that the payments be current on the home mortgage.

How does this effect you? Do you have questions about YOUR best action? Contact us today for your free, no obligation consultation.

For ALL your real estate related needs and/or questions call ((530 315-2808), send us an * email, or visit us8 on line at EncoreRES.com or any of the links below.

Please note: all visits to our sites are secure AND confidential. We do NOT track your activity!

Subscribe to Listings Updates          Free Home Warranty

             Search the MLS                Over the Back Fence

Home Rescue Group           Free Home Market Analysis

                           Yuba-Sutter Real Estate Today

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1. February 2012 by Michael McFarlane.

Interest rates are at historic lows.  Many currently active loans were written at MUCH higher rates than are currently available.  Refinancing can save hundreds of dollars each month.  For many, it can even mean the difference between staying in their dream home or being foreclosed upon.

Everywhere you turn you hear warnings about loan modification scams.  Or worse, about someone that just got ripped off!  The news is full of negative reports.  C.A.R. (California Association of Realtors®) has recently published another advisory ($click here to read it) warning against the unscrupulous.

Recently Freddie Mac was accused of betting against itself ($read more here)!  HARP, HAFA, and other government programs have tried to help.  It seems like each lender has tried something of their own making.  Many homes are under water (meaning their value is less than the amount of the loans against them).  The feds stepped in with the 115% loans, then the 125%.  We heard today that the limits will be raised to 150% in February, and possibly removed altogether later.

An article came across my desk today aimed at helping home owners manage their own loan modifications ($read here).  It’s enough to scare off most, and it’s just one of many parts!  And, of course, while you are doing all this you must also make a living. 

Sooooo….back to the original question: Where does one turn?  While there may be some good companies out there specializing in loan modifications we are generally dubious.  We are uncomfortable with the idea of using someone’s bad situation to our advantage.  Yes, as a business costs must be met, but profits should come from somewhere else.

That is why we have establish a team within our group for that purpose.  We can help clients without having to profit.  We believe we will receive our benefits by helping others and making clients that will come to us when things are better.  Everyone wins!

How does this effect you? Do you have questions about YOUR best action? Contact us today for your free, no obligation consultation.

For ALL your real estate related needs and/or questions call ((530 315-2808) or visit us8 on line at EncoreRES.com or any of the links below.

Please note: all visits to our sites are secure AND confidential. We do NOT track your activity!

Subscribe to Listings Updates              Free Home Warranty

            Search the MLS                                   Over the Back Fence

Home Rescue Group                    Free Home Market Analysis

              Yuba-Sutter Real Estate Today

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