Brought to you by the CALIFORNIA ASSOCIATION OF REALTORS®
$18,000 IN COMBINED HOMEBUYER TAX CREDITS FOR A LIMITED TIME
Californians have a brief window of opportunity to receive up to $18,000 in combined federal and state homebuyer tax credits. To take advantage of both tax credits, a first-time homebuyer must enter into a purchase contract for [...]

More than 51 percent of all borrowers whose mortgage loans were modified in the first quarter of 2009 defaulted again by the end of the year, reported the Office of the Comptroller of the Currency and the Office of Thrift Supervision in a joint report.
Modifications are “clearly not working well and it’s not a surprise,” [...]

Nearly 14 percent of all mortgages were in trouble in the fourth quarter of 2009, according to a report released Thursday by the Office of the Comptroller of the Currency and the Office of Thrift Supervision.
More than 4.7 percent of all mortgages were more than 90 days past due in the fourth quarter, a 21.1 [...]

President Obama is announcing an expansion of foreclosure-prevent tactics, including a plan to reduce principal balances and special aid for unemployed borrowers.
The bulk of the responsibility for carrying out the new program will be assigned to the Federal Housing Administration, which will insure lenders against part of the losses.
The plan asks banks to write down [...]

Brought to you by the CALIFORNIA ASSOCIATION OF REALTORS®
March 25, 2010
Dear C.A.R. Member:
I’m gratified to report that late this afternoon, Gov. Schwarzenegger signed Assembly Bill 183, the Homebuyer Tax Credit legislation, into law. His actions today are the result of our efforts in Sacramento over the last several weeks as [...]

The inventory of foreclosed homes that banks are sitting on is rising, threatening to push home prices down further in some parts of the country.
Analysts at Barclays Capital estimated that banks and mortgage investors held about 645,800 foreclosed homes in January, up 4.6 percent from December. That is down significantly from the peak of 845,000 [...]

Some of the nation’s top economists believe the housing market has turned and better days are on the way for the housing industry.
Increases in jobs, credit, and affordable homes will overcome impediments such as rising interest rates, and the expiration of the Federal stimulus program to push the housing market toward recovery, says Dean Maki, [...]

March 15, 2010 – Builder confidence in the market for newly built, single-family homes fell back two points to 15 in March as poor weather conditions and distressed property sales posed increasing challenges to both builders and buyers, according to the latest National Association of Home Builders/Wells Fargo Housing Market Index (HMI), released today.
“Unusually poor [...]

(Reuters) – California’s economy faces more hard times this year and will not grow until late next year, weighed down by the ongoing housing slump and the state government’s need to slash spending, a UCLA Anderson Forecast report released on Tuesday said.
…
…
..
California, the country’s most populous state with roughly 38 million people, also faces a [...]

http://sacrealstats.blogspot.com/