Sorry, It’s Too Late to Panic Now.
August 24, 2010 by Michael · Leave a Comment
Yup, there was some dismal news in the housing market today. Housing sales in July 2010 dropped 25.5 percent below July 2009 sales. That’s not so hot, especially when we’re trying to get into recovery mode. It’s the lowest volume of home sales in 15 years! So with all this doom and gloom, time to [...]
More Foreclosure Relief? Depends on what Schwarzenegger has for Breakfast.
August 20, 2010 by Michael · Leave a Comment
Additional Anti-Deficiency Protection is Almost Here! On Thursday, August 19, the California Senate approved SB1178. This bill extends anti-deficiency protections to homeowners who refinanced their mortgages, but didn’t take any cash out, and are now facing foreclosure. Ok, in plain english: Most people don’t realize, that when they’ve refinanced their existing mortgage to get a [...]
Hold on to your lugnuts, the IRS is getting ready unlock and load!
August 17, 2010 by Michael · Leave a Comment
Sorry people, but it looks like the party is just about over. That is, if you enjoyed the low capital gains tax rates extended by George W. Bush and set to expire and the end of this year (2010). Check-out the substantial changes it makes to the higher end of the spectrum (those in highest [...]
Fannie and Freddie release their HAFA guidelines
June 9, 2010 by Michael Koenig · Leave a Comment
Great News. Fannie Mae and Freddie Mac are now on board the HAFA train! When the HAFA program launched (on April 5, 2010), Fannie Mae and Freddie Mac weren’t on board with it. And that was a shame, as they are the two of the largest organizations that guarantee or own loans in the country. [...]
Foreclosure Auction – Take 2
May 28, 2010 by Michael Koenig · Leave a Comment
Another eventful day at the Alameda County courthouse in Oakland, CA!
Tax Break for California Short Sales and Foreclosures Approved!
April 9, 2010 by Michael Koenig · Leave a Comment
This is BIG news for Californian’s who plan on doing a Short Sale or are forced into foreclosure. The bill, SB401, waives state taxes on mortgage debt that has been forgiven in a foreclosure or short sale. Unlike a similar bill that was vetoed earlier this year, Governor Schwarzenegger said he would sign this bill. [...]
$18k Tax credit for California Home Buyers! how…
March 24, 2010 by Michael Koenig · 2 Comments
This is big news for home buyers in California! The credit will apply to first-time buyers who purchase new or existing homes between May 1 and Dec. 31 of this year. It is for 5 percent of the purchase price, or up to $10,000. Governator Schwarzenegger is expected to sign it into law soon. Want [...]
Foreclosure Auction on the County Courthouse Steps
March 22, 2010 by Michael Koenig · 2 Comments
We made a little field-trip to the Alameda County Courthouse in Oakland, California. Today was simply another day on the steps of the courthouse. There were about 110 properties scheduled for the sale. However, after all was said and done, I think only ONE property was actually sold to a high bidder What happened to [...]
Pleasanton Housing Cap Lawsuit Update
March 19, 2010 by Michael Koenig · Leave a Comment
The action on March 12, 2010 by an Alameda County Superior Court judge overturning the City of Pleasanton voter-approved cap on housing permits is the culmination of more than a decade’s worth of action and inaction related to how a community plans for its housing needs. The following is a brief timeline and summary of [...]
Mortgage Rates Set to Rise in 2010
March 19, 2010 by Michael Koenig · Leave a Comment
Is it time to rush out and buy a house before mortgage rates go up? Some analysts believe mortgage rates will jump to around 6% by year end from 5% in recent weeks, while others see only a slight increase. As the Federal Reserve winds down its intervention in the mortgage market, rates on home [...]
