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 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 $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.

in this episode, i discuss a great website to opt-out of not only recieving those annoying credit card offers, but also to prevent your credit card companies from accessing your credit report and making changes to your terms and conditions because of something on your credit report.

in this episode, i discuss a news article recently released by cnnmoney.com, titled “with caution, americans still want a house”. you can read the full article at cnnmoney.com.

in this episode, i discuss the median sale price for single family homes from last year at this time compared to this year at this time in westside of los angeles including the communities of santa monica, palms/marvista, venice, culver city, west los angeles, and westchester. statistics courtesy of themls.com.

017. the reside daily bite – real estate is “hyperlocal” from david doucette on Vimeo.

in this video, i discuss the term “hyperlocal” and how important it is to think “hyperlocally” when talking about the real estate market in your neighborhood.

THIS IS AN IMPORTANT UPDATE TO RESIDE DAILY BITE 012. in this video,  i discuss the fact that you may qualify for BOTH the federal homebuyer tax credit and california homebuyer tax credit IF you have an accepted offer by april 30, so it is possible to potentially qualify for both tax credits for a total of $18,000 in tax credits. be sure to consult with your tax attorney or cpa to find out if the tax credits apply to your situation.

episode 005. real estate news, monthly update

• i’m experimenting with a new format, called real estate news, monthly update. once a month, i will be discussing recent real estate news. in this episode, i discuss articles featuring content related to short sales and foreclosures. feel free to send me comments and let me know if you find this format successful by either clicking the comment link above or send an email to david@residerealestate.com.

like what you’ve heard? please submit a review to itunes.

LIVE! on fridays.this podcast will be broadcast LIVE! on friday, time to be determined. join us LIVE!

REAL ESTATE SERVICES: are you looking to purchase a home? i specialize in working with homebuyers and first time buyers on the westside of los angeles. contact me to schedule a free 45 minute buyer’s consultation. i can be reached at the studio at 310.391.9191 or david@residerealestate.com

that’s a question i have been pondering for a few months. the people i have talked to believe there may be a wait and see period for many would be buyers after the credits expire and homebuying may slow a little bit, but no one really knows. the latest on the tax credits is, if you have an transaction under contract by april 30, 2010 and it closes by june 30, 2010, you can qualify for the tax credit.

i came across a good article at palletenterprise.com (of all places) that addresses this same topic and also gives some great insight and also lays out a couple of different scenarios based upon unemployment, which is improving, and the role of FHA loan requirements, to name a few. you can read the full article here. 

i’d love to hear how you think the housing market might be performing later this year. what are you noticing in your neighborhood?

1. prices to bottom
2. mortgage delinquencies up
3. foreclosures move upstream
4. mortgage rates to rise
5. buyer’s market remains
6. modification plan could be modified
7. FHA lending standards may increase
8. tax credit available through june
9. markets will vary a great deal by region
10. mobile maps can help

the most interesting item to me is item #4, mortgage rates to rise. mike larson of weiss research states that because of “the unwinding of this Fed program, the improving economy, and mounting concern over government deficits could push rates on 30-year, fixed mortgages to roughly 5.5 percent by mid-2010 and close to 6 percent by the end of the year, almost all signs to me point higher.” this is a great reason, along with item #8, tax credit available through june,  to consider purchasing a home in the next couple of months. you can read the full article by clicking here.

if you need assistance with any part of the home buying process, including finding a great lender, feel free to email me at david@residerealestate.com.