Posts Tagged ‘California’

Arizona and Colorado Home Foreclosures Raised 10 Percent in April

By ForeclosureWarehouse.com
Published: Tuesday, Apr. 26, 2011 – 4:15 am

NEW YORK, April 26, 2011 — /PRNewswire/ — ForeclosureWarehouse.com recently reported that in April, the top five states with more foreclosure opportunities were California, Florida, Colorado, Arizona, and Georgia. From March to April, only Florida saw a decrease at -12.07 percent in foreclosures. California foreclosures increased 4.95 percent, Colorado was up 13.98 percent, Arizona was up 11.96 percent, and Georgia was up 7.22 percent.

Borrowers lost 1.67 million homes in 2010 as some 27 percent of U.S. mortgage holders were underwater (owed more than their house was worth) by the end of 2010. 2.9 million homes received foreclosure filings in 2010, and there would have been more if not for court interference after it was discovered that some lenders hired inexperienced people to process foreclosures without following procedures and verification of facts (robo-signing).

More than 1.8 million homes are projected to be taken this year in foreclosures, short sales and voluntary dispossessions, paving the way for astute investors to purchase homes in desirable areas for a steep discount on their actual value.

Housing will remain weak in the next few months amid the high number of houses in foreclosure. Demand for homes is likely to remain quiet as unemployment of almost 9 percent continues to plague the labor market and credit market conditions remain firm.

The outlook of more foreclosures looming, declining prices of excellent homes in prime neighborhoods, and an unemployment rate expected to average about 8.7 percent this year means a housing recovery may take years to evolve. Foreclosure filings will climb about 20 percent, reaching a peak for the housing crisis in 2011.

Top 5 states with more foreclosures in April:  
State Number of properties  
California 10,388  
Florida 8,224  
Colorado 7,779  
Arizona 5,038  
Georgia 3,833  
   

 

Even with all the government intervention and assistance efforts, the U.S. housing market remains under pressure from a poor employment outlook and oversupply of houses. The national political climate for budget tightening means homeowner assistance programs will lose support and no new programs will be started.

Recent rumblings in the markets about inflation do not seem to affect the housing industry. There is a glut of distressed properties on the market. The average rate on a 30-year fixed loan increased to 4.98 percent the week ended April 8; still an excellent rate for purchasing a home.

This is all good news for the investor or home buyer. This is an ideal time to buy a home if an individual is in a good position to purchase a house; the buyer has job security, has a credit score high enough to be approved for a loan, has enough money for a down payment (usually 20 percent), and is ready to establish roots in a community, for example.

A large part of the buyers’ market will continue to be short sales and foreclosure sales as bargain-hunting investors and borrowers continue to find value in short sale and foreclosed properties, choosing these properties over traditional sales.

Lenders will increase the number of short sale and foreclosures properties they release to the market in anticipation of the settlement of the government “robo-signing” lawsuit furthering the opportunities for buyers to purchase at substantial price discounts.

After the government receives the $25 billion settlement from the financial institutions in trouble for the robo-signing debacle, there will not be nearly enough for the estimated $800 billion necessary to support all the underwater mortgages in the U.S.

The rising price of gasoline and other factors may prevent many potential buyers from venturing into the housing market. Oversupply together with weak demand for homes will likely keep housing prices low and declining for the remainder of 2011.

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SOURCE ForeclosureWarehouse.com

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Foreclosure sales increase in March

March foreclosure sales rose 35.1 percent in California, according to the latest ForeclosureRadar report. 

Notice of Default filings in California rose to their highest level since October 2010, up 17.3 percent month-over-month to 26,615 filing. Notice of Trustee Sale filings declined for the third consecutive month, down 3.3 percent overall from February.  Year-over-year foreclosure filings were down with Notice of Default filings falling 19.7 percent and Notice of Trustee Sale filings dropping 31.0 percent from March 2010. 

After a slow February, foreclosure sales rose with sales Back to Bank (REO) up 28.6 percent and properties Sold to 3rd Parties, typically investors, jumping 61.5 percent. On a daily average basis those increases were just 5.0 percent for sales Back to Bank (REO) sales and 24.3 for properties Sold to 3rd Parties. The average Time to Foreclose continues to climb, up 4.1 percent month-over-month to 302 days, a significant 83.4 percent increase year-over-year, and a new record.

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Searching Homes for Sale in San Jose CA

If you are looking for homes for sale in San Jose CA, let me tell you that you can have some of the best deals in the city when it comes to real estate and you should be prepared to enjoy a dry climatic condition throughout the year. The city of San Jose enjoys a subtropical Mediterranean climate that ensures that the land basks in sunshine for more than three hundred days in a year. The city experiences little rainfall and snow fall is rare. The winters and springs are green with vegetation and the hillsides are beautiful to behold during the seasons; the summers are comparatively dry. It tends to be warm in summer and cool during the winter months. With a fine weather combined with high economic growth and educational opportunities, the city is a hot destination among professionals and students across the world.

If you are hoping to relocate to the city for any reason whatsoever, the good news for you is that there are various homes for sale in San Jose CA available for you to choose from. Make sure that you access the internet, www.carolpefley.com,  to find the latest MLS home listings.  You just have to fill in the preferred locations in San Jose and the range of price within which you mean to buy the property. You also have the option to mention the type of house you are looking for and the number of bedrooms and baths to narrow down the scope of your search to more relevant results.

The information about best deals of homes for sale in San Jose CA is available with the experienced local real estate agents, such as myself. Using an experienced realtor is the best way purchase a property as they are the experts in the field and have negotiated multiple real estate transactions. 

A local San Jose realtor can be of immense help while you are searching for homes for sale in San Jose CA.   Realtors such as myself have been in this industry for long time, so they have good contacts and resources and  are familiar with the properties and homes in San Jose CA area.  I know how to tackle the paper work and can help simplify your home searching and house buying procedure significantly.

Feel free to contact me for all your real estate needs.

Written by Carol Pefley

www.carolpefley.com

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How to Sell Real Estate in San Jose

San Jose is the third largest city in California. San Jose is the largest city in the San Francisco Bay Area. Some exciting places to visit include a number of museums, Raging Waters which is the largest water park in the Bay area and Santana Row, which is a shopper’s paradise. San José has a world-renowned quality of life, offering a wide variety of exciting cultural, recreational, educational and entertainment opportunities. Also the city has the nation’s best public safety record of any metropolitan area, a marvellous ethnic diversity and a beautiful climate; reasons which have led to more and more people settling down there and hence a flourishing real estate in San Jose CA.

If you are planning on selling your property in San Jose CA, the first thing you should ask is “how much is my home worth?” Up to date information on CA real estate gives you the best chances of selling your home. You could log on to real estate websites such as www.carolpefley.com,  and do some research first before hiring a real estate agent to list your home. 

A realtor can help you sell real estate in San Jose CA. Since realtors come with experience they can help you get the best deal in the shortest period of time. Their marketing plan can give your home optimum degree of visibility in short order. They can bring the best marketing and negotiation skills to the table. They work very closely with you to make your property more marketable, helping you to price it correctly, qualifying buyers and reviewing the offers. They help you to minimize the stress with clear accountability and regular progress reports.

 Successfully selling real estate in San Jose CA requires a lot of consideration to the condition of the house. All the cleaning and prepping can be worth the effort. There are also things to consider while getting a service from a realtor. The seller is the one who pays for the realtor and not the buyer; these are the most important things you should know.

Written by Carol Pefley

www.carolpefley.com

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Homes for Sale in San Jose CA

 San Jose in California is the third largest city of the State. In the entire US, it is the 10th largest city and is located in south of San Francisco bay. It is home to about 7.5 million people and when it started of, it was more of an agricultural land. The quality of life and the various opportunities it offers is world-class. San Jose has a proud record of superb public safety, pleasant climate and various ethnicities. In the real estate sector, there are many new homes for sale in San Jose CA. Due to the vast land use by the city’s commercial and industrial sectors there is an increased land re-development that has taken place. This has led to land being used for large scale home construction. From townhomes, condos to villas, there are a whole variety of homes for sale in San Jose CA.   

If you are looking for homes for sale in San Jose CA, you can start out by looking at my website link below.

Listings usually include the description of the site on sale, its neighbourhood, area map, photos of the property, area size and the sale price. You will get the benefit of choosing from new or old homes for sale in San Jose CA.  

My website also offers online user-friendly search tools, to make your search faster and comprehensive.           

Some things to keep in mind while looking for your next home is doing your research:  The very first one is the budget you have decided for the home purchase. The amount of investment that you want to make will largely influence your decision making process. The second thing is the location of your choice. The price of the place will vary, depending upon the location. The third point includes the specific features of the house that you may be on the look out. If you are unable to find each of these conditions fulfilled at one place, then you need to find a harmonious balance between all of them.  

Written by Carol Pefley

www.carolpefley.com

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