In general, I track daily sales on from the Nevada County Multiple Listing Service (MLS) and there is a definite increase in sales lately. This is a good sign that people are buying, both investors and first time home buyers. Interest rates are very attractive now, and along with the bargains, the market seems to be shifting [...]
While there may be another storm of foreclosures on the horizon, at least for now there are some signs of recovery for our housing market. California is the bell weather of the economy for the nation. Any sign that the housing market in California is recovering is a sign that the economy is recovering. It’s [...]
I was just asked by a client to make an offer yesterday for a home in Hayward that is in foreclosure. When I called the listing agent, she said there were two pending offers already! One of the reasons home sales have risen this year is the spike in investor groups in troubled markets that [...]
Foreclosed home sales are going up here in Nevada County and elsewhere. The price of many of the foreclosed homes are making it affordable for investors to buy homes, do minor repairs and resell them for a profit. In many cases, mom and pop buyers are in the market to get a few rentals. But the [...]
Compared to the six-county region of Southern California, we’re not doing too bad here in Nevada County. Our median price in April was $279,500, compared to Southern California’s $247,000. In addition, their market dropped from $250,000 in March and 35.8 percent from $385,000 a year ago. Southern California’s median last month was the lowest since [...]
There is sometimes nothing more frustrating than a short sale. Banks typically take 90 days to six months, accept other offers if they are a dollar higher in the meantime, therefore never knowing if the home your are trying to buy will become a reality. So the news is that Bank of America and Wells [...]
Housing affordability among first-time Californian home buyers in Q109 improved more than 20 percentage points from the year-ago period, according to survey results released Thursday by the California Association of Realtors (CAR). This is good news for us here in Nevada County. The more people who can afford to buy a home, the sooner home [...]
The following is a press release which announces that the Obama Adminstration has setforth guidelines to make short sales a little easier and should help us in Nevada County in speeding up short sales. For anyone with economic problems regarding their home, this is welcome news. Banks tend to prolong a short sale because of their [...]
There are further indications that we may have hit the bottom of the housing markets. Real estate sales continue to go up in Nevada County with pending sales in the 200’s range. At the beginning of the year, the pending sales were below the 150’s. Sacramento saw a decline in inventory for April which is [...]
The term “hard-money” lending can be traced to the Great Depression when private individuals started lending money because of the banking crisis, said Leonard Rosen, whose La Jolla-based company, Pitbull Mortgage School, teaches mortgage brokers about hard-money loans. “No one really knows the reason they used ‘hard money’ as a term. It could be that [...]
