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

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Home Rescue Group           Free Home Market Analysis

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18. January 2012 by Michael McFarlane.

For some time our Spanish speaking friends have been at a bit of a disadvantage in the real estate world.  While some, like us, have realized the importance of nurturing relationships, it is a difficult task when a language barrier is present.  Many, even big companies, still are unable to deal with it.

Some have hired agents specifically to fill this need.  We, working as a team, have the ability to put an agent in front of a client that will make them comfortable.  But that still left a gap.  Unlike those of us comfortable with the English language, the internet was still pretty much unreachable.

Last month C.A.R. launched it’s new service: a Spanish based web site.  Called Sucasa the idea is to level the information availability.  We’d like to hear how it’s working.  What needs working on, what works, etc.

$ To read the notice from CAR click HERE.

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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24. December 2011 by Michael McFarlane.

I am sure you have heard about how NAR (the National Association of Realtors®) made a mistake in their calculations. The headlines NAR overestimated real estate sales by 14% have been splashed around a lot.  Funny how the bad news grabs so much press isn’t it?

I am not here to defend or condemn NAR’s mistake.  I do want to let you know however that according to reliable sources they have corrected the error in their formula and that it was in no way meant to mislead the public.  A brief article in the imanNews explains what happened and its correction.

That type mistake can not happen with the statistics we publish for you.  We do not use anyone else’s compilation of data.  Our information is taken directly from the MLS on an address by address basis.  Duplications will most likely not occur, and would be obvious if they did.  You can read our weekly stats on Over the Back Fence (click here or the link below).

If anything, our stats are a bit LOW!  That is because we do NOT include sales not recorded in our MLS.  Thess would include FSBOs (owner sold), homes sold by a Realtor® outside our MLS (Multiple Listing Service), foreclosures taken back by the bank or sold on the courthouse steps, among others.

While including these sales (as NAR tries to do) would make our numbers truer to reality, collecting that information in a timely manner, and/or checking its reliability is problematic.  We prefer to stay on the conservative side.  We like feeling confident in our statements knowing you rely on us.

Another bit of good news:  Key consumer confidence index up for fourth straight month.  This is from an article publish in today’s Los Angeles Times (read it here).  Talking to local store owners/managers it seems that our area is pretty much in step with this report.

Questions about YOUR best action? Contact us today for your free, no obligation consultation. Call or text 530 315-2808. Email Taxes@EncoreRES.com (Encore Real Estate Services).

For ALL your real estate related needs and/or questions call or text ((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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23. December 2011 by Michael McFarlane.

Great News!  It looks like the national scene is beginning to see what we have watched here for some time.  The big “news” guys at least are beginning to report that maybe the housing industry is not in a perpetual downward slide.  We are not circling the drain!

An article just published in the Washington Post (read it here) cites recent increases in new construction as one of their indicators.  Also getting credit are the stabilized prices and consistent sales level of resale homes.  The market seems to be on the mend according to them.

Those of you who read our reports regularly know that we have been reporting a much brighter picture than that presented by the “news” force in general.  Our market at least has been better than the doom and gloom that prevails in the national news scene.

Why the difference?  While I can’t answer for their reasoning, I can tell you that we try to give you the information that is HONEST, RELEVANT, AND LOCAL.  We are in the business and see first hand what is REALLY happening.  It is our opinion that you deserve the truth.

All is not rosy, but at least we are not walking through Death’s Door.  We have a long way to go, but we are going.  Part of the recovery is getting out of the Doom-&-Gloom state of mind.  Economic depression can be compared to personal depression it that if one dwells on the negative rather than working on the positive, things will continue to get worse.  Problems we have…Solutions we work on.

Questions about YOUR best action? Contact us today for your free, no obligation consultation. Call or text 530 315-2808. Email Taxes@EncoreRES.com (Encore Real Estate Services).

For ALL your real estate related needs and/or questions call or text ((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

Posted in Real Estate Market | No Comments »

13. December 2011 by Michael McFarlane.

Want to keep up with what is really going on in the real estate market?  For a look at the actual stats for last week click on over to Over the Back Fence.

Posted in Real Estate Market | No Comments »

10. December 2011 by Michael McFarlane.

Thank you for returning for part 2.  And for those of you that didn’t catch it, part 1 was posted last Wednesday and can be read below today’s post. 

Our last session ended with the questions about how this shadow inventory affects real estate and more specifically, how it concerns us locally. 

Well…our area has one of the highest foreclosure communities in the state (country?).  Yet we are still selling homes.  Not just REOs and short sales either.  Current inventory shows about 49% of our listings are Equity Listings.  This number has remained consistent for some time now.  For more stats click on over to Over the Back Fence.  

That shadow inventory; yes, we know there is some, maybe even a lot.  But we also think the banks will continue to control themselves and feed them into the market at a rate that helps sustain the market.  We see the prices remaining a bit low as the banks now dictate selling prices according to their inventory costs as opposed to the normal construction cost.  The Supply and Demand portion of the equation still applies. 

So why buy now?  Interest rates are fantastic!  Right now an investor can purchase a home in this area and have a 300% positive cash flow from month 1!  Or, if you are buying for yourself, you can quickly rebuild the cash reserve that you used for your down payment.  Want to help the kids get started on their own home?  Now is the time! 

And these interest rates will not remain at this super low percentage forever.  In fact, we believe that when the government stops pumping money into the system the banks will HAVE to RAISE their rates just to break even.

Questions about YOUR best action? Contact us today for your free, no obligation consultation. Call or text 530 315-2808. Email Taxes@EncoreRES.com (Encore Real Estate Services).

For ALL your real estate related needs and/or questions call or text ((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

Posted in Buying a Home, Real Estate Market | No Comments »

8. December 2011 by Michael McFarlane.

You may have heard that the “shadow inventory” is going to destroy our market.  Just what is this shadow inventory?  How does it affect the real estate market and the economy in general?  Do we really need to be alarmed?  All very good questions; and for the answers look no further…we will try to dispel the myths right here! 

First of all, just what is the “shadow Inventory”?  This term refers to homes that the bank has not yet foreclosed upon but foreclosure is the expected outcome.  This group includes homes where foreclosure proceedings may have started (have received a NOD or Notice of Default), as well as homes where payments are not being made (for whatever reason) but have not yet been filed upon. 

Secondly, how does it affect the Real Estate market?  Real Estate pricing works just like any other marketable item.  The value is what someone is willing to pay for it.  The term “supply and demand” applies to property as well as any item sold in the open market.  If there is more of something (supply) than there is a need for it (demand) the price goes down. 

We must also consider desirability.  The harder something is to obtain, the more we value it over that which is readily available, even if the two are otherwise comparable.  However, the mare existence of something does not mean that it is available.  Example: if I own 10 of something and you want one, the supply is higher than the demand.  But, if I refuse to sell the item you want the value goes up. 

How does this come into play in real estate?  And how is it affecting us locally?  Stay tuned for part II to be posted later this week.

Questions about YOUR best action? Contact us today for your free, no obligation consultation. Call or text 530 315-2808. Email Taxes@EncoreRES.com (Encore Real Estate Services).For ALL your real estate related needs and/or questions call or text ((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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28. August 2011 by Michael McFarlane.

Home prices have fallen substancially since 2005.  In fact the Wall Street Journal reports that drop to be 31% nationally.  That’s is hardly news to many of us.

Something that may be a bit more difficult to understand however is the fact that property taxes have increased by 20%.  There is good news however.  Homeowners can fight back.

Some interesting points to keep in mind are:

• Properties are not reappraised each year.  That is usually good news to the home owner.  Also, in California there are limits to the anual increase in taxes, regardless of value as long as ownership has not changed.
• Although homeowners cannot change the tax rate, we can influence the valuation of the home.  One such process might be an appeal.  This can be to challenge the “facts” or the dollar amount the home is valued at.
• Your Realtor® can help you get started on this process.  If your home is still being taxed at the value it had five years ago you might be paying too much.

Questions about YOUR best action? Contact us today for your free, no obligation consultation.  Call or text 530 315-2808.  Email Taxes@EncoreRES.com (Encore Real Estate Services).

For ALL your real estate related needs and/or questions call or text ((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

Posted in Real Estate Market | 1 Comment »

23. August 2011 by Michael McFarlane.

Yes, you are reading that correctly!  In Yuba & Sutter Counties alone there were more than one hundred homes either newly sold or whose contracts closed (keys handed over).  Get the rest of the stats at Over the Back Fence (link also below).

While some continue to bash the Real Estate market, others are embracing the changes.  Of course, it is these “others” that are making money at it.  But are they embracing it because they are making money, or are they making money because they are embracing the market changes?  You know, that chicken and the egg thing?

Ponder this: Every problem is simply an opportunity looking for a solution.  While I can’t remember who came up with this quote (if I every really knew), I do think it is the mantra of those who really succeed, the real winners.

Which side do you want to be on?  Loosing or Winning?  If you chose winners then give us a call to see how we can help you get there.  I personally guarantee there are opportunities available.  We just have to start looking.  Call today at 530 315-2808.  Texts and emails also accepted.

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

Posted in Real Estate Market | No Comments »

15. August 2011 by Michael McFarlane.

The Real Estate Market is in the dumps!  How often we hear such things!  But how often do these utterances come from people actually in the business?  And how is the general public to know?  Consider this:

A common complaint we hear brandied about is “Homes are not selling!.  But the fact is HOMES ARE SELLING!  A case in point: one buyer with whom I am privileged to be working has placed good offers (at asking price) on multiple homes the day they were listed (or the day they were priced in his desired range) and has missed getting EVERY ONE of them!  They received another offer that was accepted before ours, or other offers were higher (yes, above asking price!).

There are more such examples out there.  Does that sound like homes are not selling to you?  Are you interested in making money?  Is not the prime money making strategy to buy low and sell high?  NOW IS THE TIME TO BUY!

Perhaps you are interested in selling your home?  Has all the bad press put you off?  Are you working with a Realtor® that is serving your needs?  The rules may have changed, but so does the world.  It’s either keep up or get left behind.  I’m afraid the world of business and finance waits for no one. 

If you are interested in seeing the REAL numbers read the Weekly Activity Reports publish on Over the Back Fence (link below).  Every week (most weeks anyway)  the stats for the Yuba-Sutter area are compiled and published.  There are NO weeks in which there were 0 homes sold!

Get the representation you need to succeed!  Blaming the market does not get the job done.  Blaming others, conditions, or the times does not get the job done.  Willingness, knowledge and tenacity are the major tools needed.

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

Posted in Selling Your Home, Real Estate Market | No Comments »