Happy Wednesday to you All!
The New York Times recently posted an article about real estate securitization. Real estate securitization is one of the great innovations in finance in the last quarter-century. In an unprecedented way, it allows vast sums of money to go into the real estate market from people who traditionally did not take [...]
Perspective, opinion, prognostication, prediction, frame of reference…Point of View
These terms all describe what our clients seek in us. Advice, good counsel and our thoughts on where the market is headed. Navigating the market used to be much easier in the past than it is today, to be [...]
Via SF Realtor Newsletter:
The nationally recognized real estate economic consulting firm of Rosen Consulting Group prepares monthly reports on the condition of the residential real estate market in San Francisco and issues them to the press with an accompanying press release. The monthly reports include the following:
Analyses of various for-sale housing statistics, [...]
» Read MoreVia the California Association of Realtors:
Fannie Mae and Freddie Mac will suspend foreclosure evictions from December 19, 2009 through January 3, 2010. To help struggling families over the holidays, both owner-occupants [...]
Via the US Census Bureau:
Building permits for private residential housing units were at a seasonally adjusted annual rate of 584,000 in November, which was 6 percent over October’s revised rate of 551,000, the U.S. Census Bureau reported last week. While this was a strong monthly gain, November’s figure was still 7.3 percent below the November [...]
According to an article on CNN Money the San Francisco metro area is one of 7 areas in the United States expected to have average home price increases over the next two years.
San Francisco:
Median home price: $675,000
Value lost since 2006: 25.7%
Forecast gain by 2011*: 4.8%
The San Francisco metro area has seen its home values drop [...]
Beginning Oct. 1, new rules adopted by the Federal Reserve will go into effect, requiring greater diligence on the part of mortgage lenders and brokers who issue high-cost loans for borrowers with less than favorable credit. The interest rates on these loans are at least 1.5 percentage points greater than the average prime mortgage rate. [...]
» Read MoreVia the California Association of Realtors
The State Bar of California has recently launched numerous investigations against attorneys for misconduct related to loan modifications. In a rare move, the State Bar has released the names of 16 attorneys under investigation, by opting to waive investigation confidentiality in favor of public protection. These attorneys have [...]
From San Francisco Business Times:
San Francisco’s new Radiance in Mission Bay, is the first large residential development south of Mission Creek. It might seem a bit remote or undeveloped, but thats part of its charm.
“It is like an island, but it’s exactly what I was looking for,” said Spiers. “I woke up this morning, had [...]
Having a read of this recent article from The Economists website will energize recent Bay Area transplants as well as reinvigorate long time Bay Area residents. It follows the writer over the course of a week as he visits area institutions and events pushing the boundaries of science.
Techs and the city
Jul 31st 2009
From Economist.com
Lab [...]
Not all markets are moving in the right direction – however, it is good to know some are!
If you are considering purchasing real estate, the timing is everything. Call Afi today for a complimentary review of your real estate portfolio.
From the New York Times:
After a plunge lasting three years, houses have finally become cheap [...]
The new appraisal process and what it means to you.
From Tom Balk – tom@afirealestate.com
What, exactly, is the Home Valuation Code of Conduct (HVCC)? This is a new regulation (as of May 1, 2009) that establishes a code of conduct around the expediting of appraisals in the lending industry. Specifically, it states that loan [...]
via the Wall Street Journal
Prices Are Generally Falling, But a Few Markets Have Shortages of Midpriced Homes
By JAMES R. HAGERTY
Falling home prices are starting to ignite bidding wars in a few parts of the U.S. as first-time buyers compete with investors for the same foreclosed properties.
In most of the nation, the supply of unsold homes [...]
via the California Association of Realtors
To help provide first-time home buyers with peace of mind when purchasing a home, the CALIFORNIA ASSOCIATION OF REALTORS®’ (C.A.R.) Housing Affordability Fund is offering a new mortgage protection program to first-time home buyers.
Through the C.A.R. Housing Affordability Fund’s Mortgage Protection Program, first-time home buyers who lose their jobs due [...]
via realtor.org
H.R. 1, the “American Recovery and Reinvestment Act of 2009,” passed the House on February 13, 2009, by a vote of 246 – 184. Later that day, the Senate also passed the bill by a vote of 60 – 38. The President signed the bill on February 17, 2009. The bill is a $780 [...]
