Who Owns My Mortgage and Why Do I Need To Know?

Posted by & filed under Stockton Real Estate.

Don’t be afraid to ask the customer service representative for your mortgage servicer who owns your mortgage. The owner, who is often referred to as the investor, might be different from the servicing company or bank that collects and processes your payments. Lenders often sell off the servicing rights, too. So it is very common […]

Government to Decrease Financial Involvement in Freddie and Fannie

Posted by & filed under Stockton Real Estate.

The Obama administration has announced a ‘winding down’ of financial involvement in Fannie Mae and Freddie Mac at an annual rate of no less than 10% per year. Timothy Geithner predicts it will take three years for the housing market to recover. Then, an additional two to three years for legislators to come to agreement […]

Stockton 2nd in California for January Foreclosure Filings

Posted by & filed under Stockton foreclosure.

RealtyTrac’s list of metro markets with the highest foreclosure rates from December to January, was full of California cities holding 7 of the top 10 spots. The cities included Modesto (2), Stockton (3), Riverside-San Bernardino-Ontario (4), Vallejo-Fairfield (6), Bakersfield (7), Merced (9) and Sacramento-Arden-Arcade-Roseville (10). The monthly increase in California was only 2% however the […]

Forbes Bayonets Stockton and Central Valley Real Estate

Posted by & filed under Stockton Real Estate.

Each year Forbes magazine analyzes the 200 largest U.S. cities and ranks them into their ‘Top Miserable List’. This year, for the first time Forbes introduced housing as one of the criteria, in addition to the previous criteria which included unemployment, weather, taxes, traffic and violent crime. Stockton, in California’s Central Valley, was number one. […]

Slow and Uneven Market Recovery Forecast

Posted by & filed under Stockton Real Estate.

According to the Bureau of Labor Statistics, around 8,000,000 jobs have been lost in the past few years causing our economy to be at its worst since the Great Depression. According to Ken Rosen, chair of the Fisher Center for Real Estate and Urban Economics at the University of California at Berkeley, only 1,000,000 new […]

Readers Rate Local Economy San Joaquin #2 Story of the Year

Posted by & filed under Stockton Real Estate.

According to The Record readers, the local economy was the number two story of the year. One factor contributing to the overall economy was the housing market. San Joaquin county was number two in the nation for foreclosures in 2010 but housing prices remained relatively unchanged with an average home price of $181,000.

Mortgage Rates Up to 6 Month High

Posted by & filed under Stockton Real Estate.

Download now or preview on posterous 12 16 10 SB1000142405274870407380457602348.pdf (59 KB) Thirty year mortgage rates have hit a six month high of 5.09% in response to an increase in treasury yields. This is a dramatic turnaround from where rates were only one month ago at 4.17%. This is sobering news for the housing market […]

San Joaquin County 8th in AP Economic Stress Index

Posted by & filed under Stockton Real Estate.

Download now or preview on posterous 12 14 10.pdf (22 KB) Ten of the twenty most economically stressed counties in the nation are in California according to the Associated Press. San Joaquin ranks eighth followed by Stanislaus and Merced respectively. High foreclosure rates and continued unemployment contributed to the San Joaquin ranking. The ranking is […]

Bank of America Restarting Foreclosures

Posted by & filed under Stockton Real Estate.

Download now or preview on posterous 12 09 10.pdf (85 KB) Bank of America has restarted 16,000 foreclosures but it is still unknown if  judges will be satisfied with their assessment of the pending files. Other banks such as Wells Fargo and Chase have also attempted to restart their foreclosures.  The approach focuses primarily on […]

Investment Fraud Involves 13 From Central Valley

Posted by & filed under Stockton Real Estate.

Download now or preview on posterous 12 07 10.pdf (28 KB) Thirteen Central Valley residents were arrested related to a national investigation into investment fraud schemes. These schemes deliberately  targeted the investing public. Just the latest headline to remind us that fraud is prevalent in this difficult real estate market. One way to help avoid […]

Impact of Foreclosure Suspensions on Central Valley Foreclosures

Posted by & filed under Stockton Real Estate.

Download now or preview on posterous I.pdf (25 KB) According to the CVBT the recent foreclosure suspensions had little impact on the actual sales of foreclosed homes in California. However, the CEO of ForeclosureRadar speculates that the suspensions may lead to future scams claiming to overturn foreclosed properties. Overall foreclosure filings dropped slightly just after […]

California October Foreclosures are Down

Posted by & filed under Stockton Real Estate.

RealtyTrac, has reported that 66,475 properties foreclosed in California this October. That is down nearly 12% from September and 22% from last October. However even with the drop in overall reported foreclosures, Modesto and Stockton still remain in the top 5 cities nationwide for foreclosures. Although this downward trend has been consistent over the past […]

Oakdale Vandals and Squatters – Examples of Central Valley Problem

Posted by & filed under Stockton Real Estate.

Download now or preview on posterous http___www.oakdaleleader.pdf (16 KB) Over the last year, the city of Oakdale’s police department has received 164 calls related to disturbances at vacant properties. Many of those calls were to report vandals or squatters but other common violations include trespassing, theft and drug dealing.  This problem is not unique to […]

Central Valley Foreclosure Rates Down From Last August

Posted by & filed under Stockton Real Estate.

Download now or preview on posterous 11 02 10.pdf (26 KB) CoreLogic reported that Stockton foreclosures rate was 4.41% this August, down from last year’s rate of 5.41%. Stockton’s mortgage delinquency rate also decreased with 14.87% at 90 days or more delinquent down from 15.72% a year ago. This is all good news, but Stockton […]

Mortgage Rates at Fifty Year Lows – Good Time to Invest in Central Valley Real Estate

Posted by & filed under Stockton Real Estate.

According to Freddie Mac, 30 year fixed mortgage rates declined to 4.19% and 15 year rates are at 3.62%. These are the lowest rates on record since the beginning of tracking such data, in 1971. Some experts have said we would have to look back approximately 50 years to see similar mortgage interest rates. With […]

San Joaquin First In and Last Out of Recession

Posted by & filed under Stockton Real Estate.

Download now or preview on posterous 09 21 10.pdf (47 KB) Expert economists announced on September 20th that the recession ended in June 2009. This is good news for the country, but not all areas are benefitting at the same rate of progress. Due to ongoing unemployment struggles faced by California and the valley, analysts […]

The Good News and the Bad News for San Joaquin

Posted by & filed under Stockton foreclosure, Stockton Real Estate.

Real estate market analysts have been hard at work crunching the latest round of numbers but what does it all mean? Wednesday the news looked optimistic for San Joaquin when it was reported that the area experienced a second quarter decline in foreclosures despite the fact that Stockton still remained 96th in the nation for […]

A Plan to Bail Out Those With Negative Equity

Posted by & filed under Stockton Real Estate.

Download now or preview on posterous 09 09 10.pdf (90 KB) Keith Gumbinger, a vice president at HSH Associates mortgage consulting firm, has proposed a new mortgage relief program he calls “value gap coverage.” In this plan, he proposes that if a borrower did not cause the decline in their home’s value, and has been […]