#RealEstate News
June 22, 2012 Leave a comment
Here is a detailed housing report for our area.
http://providencerealty.sharepoint.com/Pages/LocalMarketReport.aspx
Veteran’s thank you for the sacrifices you have made for our freedom.
November 11, 2011 Leave a comment
Veterans Day Free Meals, Deals, Events: http://themilitarywallet.com/veterans-day-free-meals-and-discounts/
#Veterans Day 2011 Free Events and Meals
November 9, 2011 Leave a comment
To honor our veterans several restaurants, entertainment companies and stores, along with the state and cities, give away meals, free admissions and hold events.
Here are lists of most of these events held this week and next:
Veterans Day Meals, Deals, Events:
http://themilitarywallet.com/veterans-day-free-meals-and-discounts/
http://freebies.about.com/od/freefood/tp/veterans-day-free-meals.htm
Nov. 11th Parade Honors Veterans
Folsom’s 11th Annual Wayne Spence Veterans Day Parade begins at 9 a.m. Friday, Nov.11 on East Bidwell near Target and ends at the Community Center on Natoma Street.
More…
| 11th-City of Rancho Cordova – 6th Annual Veterans Day program – 10am | 2729 Prospect Park Dr. Rancho Cordova, CA 95670 |
| Nov. 11 City of Sacramento Veterans Day Parade – “Honoring Our Heroes Past and Present” – 11am – 1pm For parade entry info, please call 916-808-2344 or email sacvetparade@cityofsacramento.org Parade begins at 10AM , Capitol Mall, Sacramento, CA Program to follow on Capitol Mall 11AM to 1PM |
| West Sacramento Salutes Veterans – Veterans Day Parade Parade Director: Debbie Reynolds, Administrator, Eskaton Wilson Manor, 916-371-2060, debbie.reynolds@eskaton.org Westmore Oaks Elementary School, 1100 Clarendon Rd. |
#RealEstate News
October 26, 2011 Leave a comment
– RISMedia – http://rismedia.com –
Renters Outspend Owners on Housing
Posted By susanne On October 25, 2011 @ 3:59 pm In Consumer News and Advice,Home Owner News,Real Estate News,Real Estate Trends,Today’s Marketplace |
Renters now spend five percent more of their household budgets on housing costs than do homeowners, and the difference is growing as rents rise.
Since 2005, homeowners’ expenditures for housing have risen from 31.9 percent of their household budget to 33.2 percent, but renters’ costs have risen even more, from 35.6 percent to 38.4 percent, according to the October CoreLogic U.S. Housing and Mortgage Trends.
Since 1985, homeowners have increased their housing expenditure allocation by 12 percent, while renters increased by 22 percent.
As consumers allocate more of their expenditures toward housing, they have less money to spend on non-housing consumption. The largest decline in a household’s budget occurred in transportation expenditures which fell by 17 percent and 22 percent since 1985 for homeowners and renters, respectively, CoreLogic said.
The increased spending allocation for housing, which is largely due to the stagnation of incomes among Americans of home buying age beginning in the 1990s, has actually contributed to the decrease in homeownership by making buying a home more difficult.
Demographics have also contributed to the decline in homeownership. For the 25 to 34 age group, the homeownership rate fell from 51.6 percent in 1980 to 42.0 percent in 2010. For 35 to 44 year olds, homeownership rates fell from 71.2 percent to 62.3 percent over the same time period.
The CoreLogic report also found that a significant number of foreclosures are remaining on the market for as long as four years or more. One out of five REO foreclosures (21 percent) are taking more than a year to sell. Nearly 10 percent, or 23,200 properties that were auctioned in 2006, remained in REO as of Q2 2010. In other words, these properties have been in REO continuously since 2006.
Median home price for September in Sacramento: $164,283
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August 19, 2011
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-Los Angeles Times -Published Thursday, Aug. 18, 2011
LOS ANGELES — Mortgage rates tumbled to the lowest level in the history of Freddie Mac’s weekly survey, with 30-year fixed-rate home loans being offered this week at an average 4.15 percent, down from 4.32 percent last week.
The mortgage giant said in its weekly report Thursday that loans with variable interest rates also hit record lows, as did shorter-term fixed-rate loans. The 15-year fixed-rate loan, a popular choice with people refinancing their homes, was being offered at an average rate of 3.36 percent, down from 3.50 percent last week, Freddie Mac said.
The survey includes loans made with minimal payments of fees and points to lenders. The borrowers getting 30-year loans this week would have paid an average of 0.7 percent of the loan amount in upfront fees and discount points, and borrowers would have paid 0.6 percent of the loan amount for the 15-year fixed loans, Freddie Mac said.
The rates, available to the lucky folks who have weathered the recession and housing debacle in solid financial shape, are the lowest since Freddie Mac’s survey began in 1971 – and almost as low as anyone can recall.
Long-term fixed-rate mortgages backed by the Federal Housing Administration averaged 4.08 percent for several months in 1950-51, according to the National Bureau of Economic Research. FHA loans, which have additional costs, are available to people who are greater credit risks than those in the Freddie Mac survey.
Long-term mortgage rates tend to track the yield on the 10-year Treasury note, which has tumbled in recent weeks as investors bailed out of the stock market and loaded up on Treasuries, seeing them as a less scary investment option.
The Freddie Mac survey’s previous low for the 30-year loan was 4.17 percent, recorded in November after the Federal Reserve said it would buy $600 billion in Treasury securities, creating demand that drove down the 10-year T-note’s yield.
This week’s drop in loan rates came on the heels of the Fed’s announcement last week that it expected to keep short-term interest rates low for at least two more years because of the faltering economic recovery.
Despite the low rates, the housing market remains sluggish. About 70 percent of all home-loan applications in the first half of this year were for refinancings, not home purchases, Freddie Mac economist Frank Nothaft said.
Freddie Mac surveys lenders across the nation each week from Monday through Wednesday, asking them for the combination of rates and fees they are providing on popular mortgages.
The best rates are available only to borrowers with solid credit, enough verifiable income to support payments and a 20 percent down payment for a purchase or 20 percent home equity for a refinancing.
Well-qualified borrowers who shop around often obtain slightly better rates, and it’s possible to lower the rates further by paying additional upfront fees known as discount points.
July 19, 2011
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Sacramento area-June statistics-The median home sales price remained low, decreasing 1.3% to $164,900 from the $167,000 median sales price of last month. Compared with June 2010 ($194,000), the median sales price is down 15%. The$200,000 – $249,999 price range mode still accounts for a majority (14.9% or 259 units) of the 1,734 total sales this month, while homes under $100,000 totaled 291 (16.7%) units. Closed escrows from conventional financing (34.4%) increased, while cash buyers (28.2%) and FHA financing (29.1%) both decreased for the month. These numbers include the 159 condo sales this month. The average amount of days spent on the market (from list date to opening escrow) was 60 days – down from the 66 average DOM of April.
April 12, 2011
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The study simulated various types of mortgage delinquencies on three representative credit bureau profiles of consumers scoring 680, 720, and 780, respectively. The profiles focused on consumers whose credit characteristics – utilization, delinquency history, age of file – were typical of the three score points considered. All consumers had an active currently-paid-as-agreed mortgage on file. Key findings from the study include: |
Mortgage rates fall to lowest level in Freddie Mac survey’s history
Where to watch fireworks in the Sacramento/Placer Area
Karen Eudy, Providence Realty's Blog 