Year Median Price Percent Change 1968 $23,210 NA 1969 $24,230 4.4% 1970 $24,640 1.7% 1971 $26,880 9.1% 1972 $28,810 [...]
The conventional wisdom when selling a home has always been to wait until the ‘Spring Buying Season’. Over the years, that has seemed to make sense and is now accepted as a good strategy for those who want to sell their house and receive the best possible price. This real estate market has shattered many previously [...]
If you are thinking about purchasing a home right now, you are surely getting a lot of advice. And most of that advice is probably negative. Why buy now with prices still falling? Don’t you realize real estate is no longer a good investment? Don’t you know that people who bought five years ago lost [...]
Effective January 1, 2011 in the state of California, Governor Schwarzenegger recently signed into law the new 580e which states in part: “No judgment shall be rendered for any deficiency under a note secured by a first deed of trust or first mortgage for a dwelling of not more than four units, in any case [...]
Most of us think of the Federal Reserve as the nation’s main inflation-fighting agency. If inflation rises, or threatens to, the Fed usually tries to stop it in its tracks with higher interest rates, making it more expensive to borrow money. That results in an economy with less money to spend (or, as economists often [...]
GMAC Mortgage has lifted its temporary suspension of foreclosure sales and evictions, a spokeswoman said, joining Bank of America in retreating from a freeze that sparked a nationwide crisis over major banks’ mortgage practices. GMAC, one of the largest servicers of U.S. residential loans, is still reviewing and modifying foreclosures that were poorly documented, but “as each [...]
As I suspected would happen, the Obama administration is changing the foreclosure conversation. With the announcements from Bank of America [BAC 11.82 0.02 (+0.17%) ] andGMAC that they have not found any major paperwork flaws and are resuming foreclosure sales next week, the threat of a nationwide foreclosure moratorium seems to be abating. Granted, the administration never did [...]
Freddie Mac reports that the average interest on 30-year fixed mortgages slipped to an all-time low, for the third consecutive week, to 4.19 percent. At the same time, 15-year fixed-rate loans and the five-year adjustable-mortgage rate both also hit record lows. Rates on the former were 3.62 percent, while the latter averaged just 3.47 percent. [...]
As of August 4, FTB has received 31,460 applications. Because some of the applications are invalid or duplicates, FTB will continue to accept them through August 15, to ensure that enough valid applications are received to properly allocate the full $100 million of tax credit. FTB estimates that it can award approximately 17,500-20,000 credit certificates [...]
