Stockton Homes for Sale & Stockton Real Estate, 3620 Fourteen Mile Dr Stockton CA 95219
For information on this and all the Stockton homes for sale visit www.Homes-In-Stockton.com! Fabulous reverse plan with Delta Views.This stunning home is in mint condition with lush gardens. Vaulted Cedar ceilings make this home bright and perfect for entertaining. 4 bedrooms, all with French doors, and 3 baths. Family room with gas fireplace and French Doors to courtyard. Dining area off kitchen. Kitchen has tiled counters, trash compactor and built-in refrig. Great room with wet bar.Wood deck overlooking Delta. Boat Dock. Brought to you by Pat Holkesvig and Your Home Team. Stockton’s #1 listing agent!
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And the Property Goes To…
According to CNNMoney.com Boom in real estate auctions - May. 25, 2010 more and more homes are being sold by way of auction. Just in the first quarter of 2010 auction sales have spiked 14%. They also reported that the Real Estate Disposition Corp. has already had 195 auctions this year. If that pace is left unchanged it would result in more than a 50% increase compared to the 340 sales in 2009. In short sales, agents often must persuade the investors to slash prices to compete with the market. In addition, buyers frequently renegotiate or back out of deals causing homes to sit on the market for months and months. Due to these types of delays, eventually the investors see auction as a more viable option. The best way to try and avoid this slump is to price short sales close to market value and screen potential buyers carefully.
Fraud Alert
US Attorney Benjamin B. Wagner released information today regarding three different mortgage fraud cases all in California. May 21 PRNewswire-USNewswire Two are regarding bailout mortgage frauds and one is regarding a foreclosure rescue scam. Foreclosure rescue scams are everywhere waiting to prey on honest people who are trying to get out of a difficult situation. All you need to do is drive to the local coffee shop and you will see the signs on street corners as well as in newspapers and on craigslist. Always be careful and remember the old adage if it seems too good to be true, it probably is! If you are looking for real estate help always contact your local qualified agent. Pat Holkesvig and Your Home Team are The Central Valley’s Short Sale and Foreclosure Specialists. For more information visit The Valley’s best homepage www.homes-in-stockton.com.
Housing market statistics…what to believe?
Interesting article on housing market statistics. Is the housing market turning around or going down? Depends on who you are listening to. Real estate sales web site traffic is down but real estate rental sites traffic is up.  View article…
Stockton Real Estate Market Report May 2010
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Mortgage Bankers Association does a short sale of their D.C. office building!
The MBA would like you to continue paying on your underwater home while they walk away from their obligation. The hypocrisy continues. Click here to watch the video.
Miracle Short Sale Solution or Infomercial Gimmick?
A new short sale infomercial campaign will run in the Western United States. Starting in mid-May with a 60 second commercial (Real Help Today) soon to be followed by the launch of a 30-minute infomercial. The infomercial is being produced by We Save Homes, Inc. and Stardust Broadcasting. We Save Homes, Inc., who also offers short sale servicing software, will offer a short-sale process which they will claim can be completed in just a few weeks. Stardust has the distinction of having the 4th largest grossing infomercial in history with Dermal Tone. Do you feel comfortable turning one of the most important financial decisions of your life over to an infomercial product? This isn’t the Snuggie or the ShamWow, it is your financial future.
Despite Positive Reports Some Areas Still Suffer With Negative Equity
This week the media reported that US foreclosures have started to slow down, stating that across the nation filings were down 2 percent from April of last year. Despite this optimistic national trend there are still areas losing equity and remain at risk. According to Where Americans Are Losing Home Equity Most Nevada and Florida are the worst with areas of California and Arizona also suffering. The worst pockets of declining equity are Modesto CA, Cape Coral-Fort Myers, FL and Phoenix, AR. Thousand Oaks CA was also in the top five.
Freddie & Fannie Suffer Losses, Request Aid From Treasury
On May 5th Housing Wire reported The Federal Housing Finance Agency had to request $10.6 billion from the Treasury Department to cover Freddie Mac’s $10.5 billion deficit. On May 11th the Wall Street Journal reported Fannie Mae needs 8.4 billion. According to Freddie Mac, due to new accounting standards implemented in the first quarter of 2010 combined with the ongoing slow real estate market, Single-family net charge-offs rose to $2.8bn, from $2.4bn in Q409 and the delinquency rate rose to 4.13% from 3.98%. Single-family REO and delinquent loans rose to $115bn, from $103bn. For more information read Freddie Loses $6.7bn in Q1, Calls on Treasury to Provide $10.6bn in Aid | REO-Insider and Fannie Mae Needs $8.4 Billion More.
Media Reports REOs Are On The Decrease But Up Over Last Year According To LPS
According to the Lender Processing Services (LPS) Mortgage Monitor report as of March 2010, over seven million mortgages in the US are in a REO status. In fact, REOs are at their highest numbers since 2008. The media reports that the REO levels are down from February 2010, and this is true, but according to LPS REOs are up 15% over this same time in 2009. The same is true with the number of actual foreclosures. The media reported that foreclosures were down in March from February, which again was true, but again LPS reports foreclosures are up almost 33% over this same time in 2009. So although the current REO trend is moving downward, the road to recovery is still a long one. The good news is that there appears to be a silver lining. The rate of homeowners in early arrears converting to REO status and foreclosures is decreasing, likely attributed to the Home Affordable Modification Program (HAMP).
