reside real estate

here is a great resource for those homeowners considering a “short sale”, www.makinghomeaffordable.gov and the youtube channel video called “your graceful exit”.

i discuss what is a short sale and the requirements to be considered for a short sale.

there’s some good news coming from inmannews.com & foreclosureradar.com that indicates the foreclosure cancellations in california have increased 174% over the past year meaning banks are starting to work more with homeowners to avoid foreclosure.

i discuss a news piece that aired on 60 minutes last night about a new trend of homeowners walking away from their mortgages even though they can afford their home payments because their mortgage is “underwater”.

i discuss an article i just recieved from the California Association of Realtors and the findings of a group called first american core logic. the results may surprise you.

i discuss a recent article in the wall street journal that casts some light on why we won’t see an federal tax extension but also stress why it’s still a good time to buy a house.

i discuss an article released in the wall street journal last week titled “the new rules of remodelling”.

i discuss an article in the san francisco gate about the federal home buyer tax credit expiring today.

in this episode, i discuss a recent AP article that shows the small cost differential between renting vs. owning a home. you can read the artcle here.

in this episode, i discuss a recent article at cnnmoney.com titled “getting a loan will be pricier”.

in this episode, i discuss an article from yahoo real estate titled “12 hidden costs to be aware of”. while i don’t believe these costs are hidden, they should be taken into consideration when planning your budget during the home buying process. i keep it simple and short and just name the items. for a complete discussion of each of the 12 items, tune into the reside realtor online radio show, episode 009.

the following was sent to me this afternoon from the California Association of Realtors’ “Realegal newsletter”. it essentially states the funds for the first-time homebuyer tax credit won’t be around for long. if you’re sitting on the fence about buying a home, you need to read this;

The $100 million allocated for California’s first-time homebuyer tax credits may be depleted in about 10 to 20 days or sooner, according to C.A.R.’s Economics team.  California’s Franchise Tax Board (FTB) plans to begin accepting applications on May 1, 2010 for tax credits up to $10,000 for first-time homebuyers and for homes that have never been previously occupied.  However, the total tax credit allocation for all taxpayers is $100 million for first-time homebuyers and $100 million for new homes, both on a first-come, first-served basis.

C.A.R.’s forecast of 10 to 20 days to deplete the $100 million allocation for first-time home buyers is based on estimated May sales figures and other parameters.  It does not take into account the possibility that buyers scheduled to close escrow in April may delay closing until May to take advantage of the tax credit.  If a shift in closings from April to May occurs, the first-time homebuyer tax credits may be depleted even more quickly than indicated above.

Applications for the California tax credit must be faxed to the FTB after escrow closes.  The FTB will update its website when the 2010 application form and other information become available.

in this episode, i discuss an article i just recieved from california association of realtors’ “realegal” newsletter. they are predicting the monies for the first-time homebuyer tax credit will be gone within 10-20 days and possibly sooner. if you’re sitting on the fence about buying a home, you need to watch this now.

in this episode, i discuss an article that was printed in the la times today describing the southern california marketplace showing signs of improvement.

in this episode i discuss several factors that may be contributing to the inevitable rise in interest rates that industry experts are expecting to take place over the next 8-9 months.