From a peak of 1,555 Napa Valley residential foreclosures in 2,009, only a total of 71 homeowners were foreclosed on last year. This is the lowest number of foreclosures since 2006 when only 22 homeowners suffered this fate. Even though only 71 lost their homes in 2014, 188 property owners received a notice of default. […]
Napa Valley foreclosures down but still too many
I was reading last Monday’s Napa Valley Register and the lead story was one by Jennifer Huffman, “Napa County foreclosures cut in half in 2013“. For those that read my posts regularly, you know I like to look at what is happening today to the distressed sale situation here in the Napa Valley. Currently in Bareis, […]
Napa Valley cash buyers and distressed sales almost back to pre bubble level; same for California
Anyone who is trying to buy a home today knows how tight the supply of availables homes for sale is. Even though things are improving some, the low inventory makes it hard to buy a home priced close to the Napa County median price of $455,000. One good fact, the number of cash buyers in […]
Using auctions to justify the price of a short sale, what do you think about doing so?
The fact that the California Association of Realtors (C.A.R.) was questioning whether using auctions as a legitimate model to sale real estate properties made for very interesting reading in the most recent newsletter I get called C. A. R. Newsline. Auctions almost always have the allure that you are getting a deal but in my experience, this is not true. […]
Some very good news for California home buyers and short sellers
The following is great news for California homeowners who are looking to purchase a home and any short sellers who sold in 2013 and may buy or sell in 2014. Napa County cap is $592,250 for Fannie and Freddie loans, $521,000 for a VA loan and $729,250 for an FHA loan. The Federal Housing Finance […]
Had to do a recent short sale on your home, better check your credit report
Read this in a recent issue of Market Matters put out by the CALIFORNIA ASSOCIATION OF REALTORS® and it gave me pause. I hope this didn’t happen to you. Short sales routinely show up in credit reports as foreclosures Large numbers of homeowners who have negotiated short sales are at risk because of a startling omission in the credit […]
Short sale changes in the news; HARP extended to 12/31/15 and B of A revises their requirements
There has been a lot of events happening in the world of short sales just recently. The Federal Housing Finance Agency (FHFA) recently directed Fannie Mae and Freddie Mac to extend the Home Affordable Refinance Program (HARP) by two years to Dec. 31, 2015. The program was set to expire Dec. 31, 2013. HARP is federal […]
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