Government to Decrease Financial Involvement in Freddie and Fannie

Posted by & filed under Central Valley Real Estate, Foreclosures.

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 […]

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. […]

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.

San Joaquin County 8th in AP Economic Stress Index

Posted by & filed under Foreclosures.

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 […]

California October Foreclosures are Down

Posted by & filed under Central Valley Real Estate, Foreclosures, 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 […]

Stockton Foreclosure Rates Decrease

Posted by & filed under Foreclosures, Stockton Real Estate.

Download now or preview on posterous 09 30 10.pdf (27 KB) According to the Central Valley Business Times, CoreLogic reports foreclosure rates in Stockton decreased in July compared to a year earlier. Foreclosures among outstanding mortgage loans were 4.38 percent down from last year’s 5.42 percent. However foreclosures are still higher than the national average […]

Stockton Credit Holds On – Know Your FICO and Vantage Scores

Posted by & filed under Buyers Agent, Realtor, Stockton Real Estate.

According to Experian the Stockton area currently ranks 79th out of 142 credit markets the company follows. This is optimistic news for the area which has been the real estate poster child for this recession with some of the highest foreclosure rates in the nation. Stockton with a current score of 744 is now just […]

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 Foreclosures, 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 […]

Obama Launches New Mortgage Aid

Posted by & filed under Stockton Real Estate.

Download now or preview on posterous Obama Mortgage Aid.pdf (70 KB) Over the last month we have mentioned in Could This Be The End of Short Sales? and No New Ideas From Mortgage Summit that it was rumored the Obama administration was about to order the government-controlled lenders to forgive a portion of the mortgage […]

Mortgage Rates Drop to New Low Record

Posted by & filed under Stockton Real Estate.

Download now or preview on posterous 09 02 10.pdf (16 KB) Freddie Mac reports that the average rate for a 30-year fixed mortgage fell to another record low at 4.32%. The new 15 year fixed rate also dropped to 3.83%. These new record breaking rates show hope for a struggling housing market since the expiration […]

US Home Sales Plummet as Inventory Rises; Great Time for Central Valley Buyers

Posted by & filed under Stockton Real Estate.

Download now or preview on posterous home sales plunge.pdf (60 KB) The latest figures for existing homes sales were released this week with very discouraging results. Existing homes sales have hit the largest monthly decline in history at 27.2%. This is coupled with a record breaking 11 year peak in housing inventory. On the bright […]

No New Ideas From Mortgage Summit

Posted by & filed under Foreclosures, Stockton Real Estate.

Download now or preview on posterous Mortgage Summit.pdf (29 KB) On August 12th in the post Could This Be The End of Short Sales? we wrote about how On August 17th the Treasury was going to be holding a hearing regarding the future plans for Fannie Mae and Freddie Mac. It was rumored that the […]