Yuba-Sutter Grapevine | helping You bring Your dreams to Life ©

NAR Overestimated …

Posted on 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

Is Housing Bouncing Back?

Posted on 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

Lower Your Interest Rate

Posted on 17. December 2011 by Michael McFarlane

Many, many loans are out there that have set to an interest rate much higher than what is currently available today. While a lower interest rate can save thousands of dollars a year (we’ll get into the numbers later) many homeowners have been unable to refinance due to their equity (or lack of) in their home. The banks don’t want to lend more than a home is worth (understandable).

To help this during the recent drop in home values, the Feds stepped in and guaranteed loans they insured with an LTV (Loan to Value) of 97 to 125%. In simple English, that means that if your home is currently worth $100,000 and you owe $125,000, you can refinance if you qualify under the other (normal) criteria.

Good news, right? Unfortunately for many, with home values dropping as much as 40% in some areas and with the original loan being for 100% of the homes selling price, they still didn’t qualify. Even homes with older loans but were refinanced to facilitate upgrades or maintenance also fall into this category. Toss in an equity line of credit and the current LTV might be 160%!

The new program will now provide for these home owners. Refinances are now available for people meeting the other normal criteria regardless of their LTV! An article in today’s New York Times explains that more (to read it click here).

Why would one want to refinance? Lowering your interest to today’s fantastically low rates can save you a bundle. For some, this will even make the difference between staying in their home or being forced out. Let’s assume your loan amount is $350,000. With an interest rate of 9.75% (not uncommon) the monthly payment (principal and interest only) on a 30 year fixed rate loan is $3,007.04. If we drop that interest rate down to today’s rate of 3.75% that same monthly payment in only $$1,620.91! NEARLY 1/2! Would that help your monthly budget?

And if you are still able to make that $3,000 payment? Great! Refinance, then continue the payment amount and you will have your home paid for in just over 12 years. FREE AND CLEAR IN 12 YEARS with the same payment as you are making today!

Like to look at other scenarios? You are welcome to use the calculators on our web site (click here) or call or email us today with your questions. We will get you on the path to that joy.

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

This week’s stats have been published.

Posted on 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.

Shadow InventoryPart II

Posted on 10. December 2011 by Michael McFarlane

Thank you for returning for part 2. And for those of you that didnt catch it, part 1 was posted last Wednesday and can be read below todays 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

Shadow Inventory

Posted on 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 furtherwe 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

How to Lower Your Property Taxes

Posted on 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).

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

Over 100 Homes Sold Last Week!

Posted on 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

Have You Heard “Homes Aren’t Selling”?

Posted on 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.

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

Yuba-Sutter Real Estate Activity

Posted on 19. July 2011 by Michael McFarlane

Did you know there are 571 homes currently for sale in the Yuba Sutter MLS? Do you know how many of those are bank owned? Short sales? Is you next home there? Get all the numbers and more on Over the Back Fence (link below)!

$read more: Over the Back Fence ð

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