Stockton Real Estate Market Statistics, July 2009 http://bit.ly/sFFNR
Posts Tagged: Stockton Homes For Sale
Residential mortgage-backed securities loans cure rates worsening
Cure rates have dropped from 45% during 2000-2006 time period to the current average of 6.6%. read the article here
Opition – ARMs worse than subprime
Very interesting article from Tim Iacono From July 13th, 2009. read here
Are housing prices starting to stablize?
According to the President of Integrated Asset Services, “It’s too soon to call this a turn in the housing market, particularly given all the political and regulatory uncertainties, I think that we’re still in for some difficult spells ahead, but we are seeing a certain kind of pricing equilibrium in several important markets. That’s encouraging […]
Obama plan has small impact on US mortgage prepays
It seems that the combination of President Obama’s housing program to boost mortgage modifications and refinancing accompanied by rock-bottom loan rates wasn’t enough to create the desired mortgage bond repayment wave in May. Wall Street has predicted for months that prepayments would surge as the Obama plan kicked in and mortgage rates hit record lows. […]
FTC Seeks Public Comment on Mortgage Rescue Practices
Now is the chance to have your voice be heard. The Federal Trade Commission (FTC), has announced it is seeking public comment relating to the fairness of loan modification and foreclosure rescue practices. Public comment will allow the FTC to assess whether rules would be useful in protecting consumers of these services, and the commission […]
Stockton is Number 1.. and Not for Foreclosures!
We’re No. 1! Stockton is rated No. 1 yet again only this time it is not for foreclosures but for the resulting decline in prices from foreclosures. HGTV rated us No.1 based on annual price depreciation and area amenities. Our proximity San Francisco and Sacramento gave us an advantage over other highly depreciated markets like […]
Mortgage Insurer Triad Guaranty Inc cuts payout to 60%
More trouble for mortgage servicers. Triad Guaranty Inc. , a troubled mortgage insurer, announced it will reduce it’s payment on claims to 60%. The remaining 40%, for all intents and purposes,will be paid in the form of an IOU. Other insurers are expected to follow Triad’s lead which will result in increased losses for servicers […]
Stockton Foreclosures Expected to Increase after Freddie and Fannie Moratorium Lifted!
The Freddie and Fannie Moratorium was lifted 4/1/09. Foreclosure inventory is expected to increase. WashingtonIndepenent
Jumbo Mortgages are Back!
BofA announced a renewed focus on the jumbo mortgages. Looks like they are serious! Makes sense to loan money to solid citizens with 20%+ down and great credit. Duh! If only BofA would fund a loan! Have 5 Stockton real estate transactions being held up because of BofA processing issues. They have been blaming it […]
Mortgage Problem goes Prime-Time!
Loan modifications were reserved for the subprime market but as the prime mortgage market starts to meltdown efforts to modify prime loans are increasing. I showed a REO last week that was listed for 689k. Last sold for 1.4k. Home next door was listed for over 1.5k. Don’t think the 1.5k home will be selling […]
Beware of loan modification SCAMS!
Beware of the many San Joaquin County loan modification scams currently being promoted. You should not have to pay for a loan mod. There are non-profit companies setup to help you. As the number of Stockton foreclosures increase so will the scams. Article
There they go again…a new bill in the House of Representatives would bring back 100% financing!
H.R. 600 is under consideration in the House of Representatives. If passed, it will restore a lending practice that was barred last year with the passing of the Housing and Economic Recovery Act of 200, seller funded down payment assistance. This type of lending is destructive for our housing market and the nation’s economy as […]
Stockton’s average price per square foot down to $97 in September!
The average price per square foot in Stockton has fallen to $97. This compares to $176 a square foot last year at the same time. The trend is not looking positive as more REO inventory is expected. Prices are significantly below replacement cost.
Hold on folks it may be a bumpy ride!
I am attending REOMAC – a conference for lenders, mortgage servicers, title and real estate professionals involved in selling bank owned properties. Very enlightening. General consensus is that we are 1/3 of the way through the cycle and a turnaround is not expected until 2012 – 22013. Keynote economist suggests prices in California are still […]
Stockton Ranks Number One…
Stockton reported one foreclosure filing for every 27 households…
California home sales increase from August 2007 to 2008. Good or bad news?
California homes sales from from August 2007 to 2008 are up, which could be viewed as positive except the number of “organic” sales as a percentage of total sales is decreasing. Link to a great article from Mr. Mortgage follows: View article…
Option ARM defaults may provide the next wave of foreclosures!
Check this out, Very Pertinant!!
Active Brookside Listings as of 6/8/2008
5704 Saint Andrews Dr Stockton, CA 95219-1929 $2,995,000 4673 Pine Valley Cir Stockton, CA 95219-1878 $2,389,000 3626 Gleneagles Dr Stockton, CA 95219-1824 $1,695,000 5117 Spanish Bay Cir Stockton, CA 95219-1933 $1,150,000 4138 Pebble Beach Dr Stockton, CA 95219-1912 $1,095,950 4743 Saint Andrews Dr Stockton, CA 95219-1915 $1,075,000 6065 Riverbank Cir Stockton, CA 95219-2523 $999,975 3318 […]