Vallejo, CA Real Estate News

The year 2013 can be categorized by a significant turnaround in the housing market across the nation. While lack of homes available for sale constrained home sales in many markets across California, it contributed to a substantial increase in home prices. Existing single family sales for 2013 are predicted to fall 2.1 percent short of 2012 sales, yet median home prices are expected to show a 28 percent improvement over 2012-- with the median reaching $408,600. Please remember every market has its own market including VALLEJO REAL ESTATE. The increase in home prices coupled with a percentage point increase in mortgage interest rates led to a sharp decrease in affordability. Despite decreased affordability, current market conditions still warrant buying a home sooner rather than later. Fi...
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By TIM GARTON, "Highly Skilled Pro"
(RE/MAX Gold)
Those who lost their home due to financial hardships may get another shot at being home owners again soon. The Federal Housing Administration recently announced that they would shorten the waiting period for qualified borrowers who’ve had a bankruptcy, foreclosure, deed in lieu of foreclosure, or short sale who want to buy a home again. Under the FHA's Back-to-Work program, home owners must show that they have their finances back in order and they must receive counseling from a HUD-approved agency. Those who meet the requirements can apply to buy a property in as little as a year. “The Back to Work program is a great opportunity for us to help those impacted by the recent housing crisis,” Heather Shanahan, a representative with a HUD-approved housing counseling agency called Springboard...
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By TIM GARTON, "Highly Skilled Pro"
(RE/MAX Gold)
Distressed California Homeowners May Qualify for California's Keep Your Home California Transition Assistance Program (TAP) If your financially distressed California clients can no longer afford their homes and are pursuing a short sale or a deed in lieu of foreclosure, they may be eligible for financial help with their relocation to alternative housing.The funds come from the Transition Assistance Program (TAP), part of the Keep Your Home California Program.The state of California is providing up to $5,000 in transition assistance to qualified homeowners who can no longer afford to stay in their homes.  You can help by advising your distressed clients that they must:  Apply for the funds through their state's website or by calling 1.888.954.5337.   Maintain their property until their ...
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By TIM GARTON, "Highly Skilled Pro"
(RE/MAX Gold)
    Vallejo consumers wanting to purchase Real Estate with special loan programs or other areas in the state can view the link below for assistance. If you are thinking of selling your Vallejo home or moving to the Vallejo area call Tim Garton a Vallejo REMAX Realtor and the surrounding area. 707-315-5555 http://www.car.org/aboutus/forconsumers/mortgageresource/
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C.A.R. announced today it received a letter from the California Franchise Tax Board (FTB), obtained by Board of Equalization (BOE) member George Runner, clarifying that California families who have lost their home in a short sale are not subject to state income tax liability on debt forgiveness “phantom income” they never received in a short sale.  Last month, in a letter to California Sen. Barbara Boxer, the Internal Revenue Service (IRS) recognized that the debt written off in a short sale does not constitute recourse debt under California law, and thus does not create so-called “cancellation of debt” income to the underwater home seller for federal income tax purposes.  Following the IRS’s clarification, C.A.R. sought a similar ruling by the California FTB.  Now with the FTB’s clarif...
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By TIM GARTON, "Highly Skilled Pro"
(RE/MAX Gold)
As more inventory hits the housing market and buyers rebel against rising home prices, the real estate market is likely to shift from seller dominance to one that is more counterbalanced by buyer reluctance to acquire homes deemed too expensive. The tighter inventory conditions of this recent spring and summer are going away as the spring months of next year start to approach, analysts say. Right now, builders are trying to make up for a lack of inventory with new homes,  Lawrence Yun, chief economist for the National Association of Realtors, claimed. According to the latest Home Price Index report fromCoreLogic, home prices, including distressed sales, increased by only 0.2% in October when compared to September. "In October, the year-over-year appreciation rate remained strong, but th...
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By TIM GARTON, "Highly Skilled Pro"
(RE/MAX Gold)
Mortgage rates moved higher today, bringing them to their worst levels since the morning of September 18th.  The average 30yr fixed rate for the most ideally qualified borrowers was already on the move up at the end of last week, but today's weakness solidifies the move up from 4.375 to 4.5% (best-execution). Before September 18th, rates were higher still, in anticipation of the FOMC (the "Fed") policy announcement that afternoon.  A clear majority of market participants expected the Fed to announce a reduction in asset purchases (QE).  When that didn't happen, rates moved swiftly lower and have held in that range ever since.  Even with today's losses, we're still not back up to the pre-September FOMC levels (though we're getting closer).  It's an important consideration at the moment g...
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By TIM GARTON, "Highly Skilled Pro"
(RE/MAX Gold)
Since the Federal Housing Administration (FHA) insures a sizable portion of the mortgage loans used by today’s home buyers, it stands to reason that making your house FHA-friendly will increase its appeal to more buyers. In preparation, you should know some of the basics of FHA loan rules so that you increase your home’s potential to reach as many buyers as possible. First-time home buyers in particular rely on FHA loans to achieve homeownership. First, the FHA has lending limits, so you need to check prices for your region to see if your home’s listed price falls within the requirements. Note that the limits vary greatly, depending on the state and location. For example, in high-cost areas, the FHA might insure a mortgage of up to $729,750, but only $271,050 in New Hampshire. Find out ...
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By TIM GARTON, "Highly Skilled Pro"
(RE/MAX Gold)
Under regular tax rules, when a lender forgives a debt — that is, relieves the borrower from having to pay it back — the amount of the debt is taxable income to the borrower. A homeowner who has $100,000 in mortgage debt forgiven through a short sale, for example, would have to pay income tax on the $100,000.  This “cancellation of indebtedness” rule could have caused enormous financial hardship to the millions of homeowners whose homes were “underwater” during the home foreclosure crisis that began in 2007. To prevent this, Congress enacted the Mortgage Forgiveness Debt Relief Act of 2007. This law allowed homeowners to exclude from their taxable income up to $2 million of debt forgiven on their principal residence by a lender in a short sale, mortgage restructuring, or forgiven in a f...
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By TIM GARTON, "Highly Skilled Pro"
(RE/MAX Gold)
  The link below is the closed report for Vallejo and Benicia in 2013 and for the months of September and October.  If you have any questions about this report feel free to contact Tim Garton Vallejo & Benicia Realtor at 707-315-5555.   Or visit my website at www.propertyinvallejo.com.   http://bareis.com/sites/bareis.com/files/ssol-2-mon-1013.pdf
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A survey of real estate brokers’ attitudes toward national listing portals like Zillow, Trulia and realtor.com shows that while most don’t feel threatened by them, they’re not depending all that heavily on them for new business, either. The survey, by Bellevue, Wash.-based Imprev Inc., a provider of integrated marketing tools, also found that while brokers are generally satisfied with the quality of “leads” they get from national sites, they’re less thrilled with the job their agents do following up on them. The bottom line was that brokers still see traditional methods of drumming up business like open houses, yard signs, walk-in business and getting in touch with past clients as a better value than national portals. The online survey of more than 260 brokers and franchise executives, ...
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By TIM GARTON, "Highly Skilled Pro"
(RE/MAX Gold)
Home improvement store Home Depot (HD) released a much strong third-quarter earnings report, with the company’s sales increasing to $19.5 billion, up 7.4% from a year earlier. The company’s net earnings for the third-quarter reached $1.4 billion, or 95 cents a share, compared to $947 million, or 63 cents a share, for 3Q-2012. "All three U.S. regions experienced strong growth on the back of continued favorable housing trends, giving us more confidence that 4Q13 comp-store sales could rise 6%. Sales to the professional continued to grow faster than to do-it-yourselfers," said Wayne Hood with BMO Capital Markets Corp. 
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By TIM GARTON, "Highly Skilled Pro"
(RE/MAX Gold)
RE/MAX Gold sells more homes each year than any other independently owned real estate brokerage in Northern California and Central California.* We currently serve areas throughout Northern and Central California; from Yuba City to Fresno and Cameron Park to Marin.     *RIS Media Power Broker Report for 2012
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By John Souerbry, Homes, Land & Investments
(Cordon Real Estate)
Vallejo bank-owned foreclosed homes for sale are in short supply as the summer begins.  Lenders are continuing to hold many foreclosed homes off the market in anticipation of price increases as the market improves through the end of 2013. Click here for the list of >>> Vallejo bank-owned foreclosed homes for sale <<< currently on the market.  Click on a property’s Address to view photos, map and additional information.   Contact Us  for help with Vallejo bank-owned foreclosed homes for sale and with buying or selling any North Bay real estate. Click on North Bay MLS search to find properties of all types using the same local MLS that agents use. ---------------------------------------------------------------------------------------   John A. Souerbry & Associates  Call John direct: (707...
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By Mark Delgado, Benicia and Vallejo, Property Management, rental h
(houses for rent, Solano County & Glen Cove)
Can you find me tenants just like the last ones?    The other day, a Vallejo Property Management client that we had done a placement-only for a few years back called.  We hadn't heard from him in quite a while and now we found out why.  The tenants that we had placed for him worked out great and he had never seen a reason to call us for the entire time that they lived in his rental home.  All good things must end and the time had finally come for his renters to move on.   So, he called us again and his words to us were "Can you find me tenants just like the last ones?"  So, on the market it went...   We have just found him renters that passed the same qualifying guidelines as his prior tenants that had stayed with him for those years.  So, while we can't predict the future, we've done o...
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By Mark Delgado, Benicia and Vallejo, Property Management, rental h
(houses for rent, Solano County & Glen Cove)
This is where you want to spend your Sunday afternoon This past weekend, while shooting our newest listings for Delgado Property Management, I shot a home with a great backyard.  It's not that the yard was huge but it was very comfortable and just made your spirits soar.  I could imagine living in this home but spending as much time outside in the backyard as inside the home itself (and the home was nice as well). Take a look at this gorgeous Vallejo Home Rental.    
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By Mark Delgado, Benicia and Vallejo, Property Management, rental h
(houses for rent, Solano County & Glen Cove)
  Three Vallejo rental homes on a single street At Delgado Property Management, we work to earn a good reputation, and it is paying dividends.  We’ve just listed a third house, all on the same street, each available at the same time.  The clients have trust in us that we will locate qualified renters quickly. The homes are large and attractive, located near Blue Rock Springs golf course with easy access to shopping, schools, parks, freeway and restaurants.  Taken in combination with our marketing outreach, I look forward to three successful transactions. View our listings at Delgado Property Management.  
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By Kevin Dwyer
(Sellstate Next Generation)
  Real Estate- Glen Cove Real Estate Market Update For April 2013     The Glen Cove California Real Estate Market Update is put together to help buyers and sellers know what is going on in the Glen Cove Market. Having the right information can save you money, headaches and hassles when making an informed buying or selling decision       In April 2013, the Glen Cove, California Real Estate Market a total of 4 homes sold. The average sales price in Glen Cove in March was $322,000.    Homes that were sold in Glen Cove, California had an average listing (asking) price of $327,250. The number of days on market increased in March to 72 days.    Glen Cove Homeowners gained an average of $88,482 from April 2012 to April 2013. With interest rates historically low and supply of bank foreclosures ...
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By Kevin Dwyer
(Sellstate Next Generation)
  Hiddenbrooke, California Real Estate- Hiddenbrooke Real Estate Market Update For April 2013        The Hiddenbrooke California Real Estate Market Update is put together to help buyers and sellers know what is going on in the Hiddenbrooke Market. Having the right information can save you money, headaches and hassles when making an informed buying or selling decision  In April 2013, the Hiddenbrooke, California Real Estate Market had a total of 6 homes sold. The average sales price in Hiddenbrooke in March was $401,065.    Homes that were sold in Hiddenbrooke, California had an average listing (asking) price of $393,617. The number of days on market in April was 32 days.    Hiddenbrooke Homeowners gained an average of $59,198 from April 2012-April 2013. With interest rates historically ...
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