News Archives

Freddie Mac net income soars 700% to $4.2 billion

Freddie Machttp://www.housingwire.com/articles/34673-freddie-mac-net-income-soars-700-to-42-billion

Purchasing In An Association

Warren Adams, REO propertyThis article, written primarily for investors, offers up some great advice on purchasing homes located in Home Owner’s Associations.  However, even for owner occupied buyers, the advice is still sound.  Know what your HOA covers and restricts.  These factors will affect your personal enjoyment of the property, its future value, and could limit your options later.  Check out the article HERE and please feel free to contact our office for all your real estate needs.  Our experienced agents can help you navigate through the process and make your home buying experience a pleasant one.  Click here for my current listings.

Sacramento Region Leads Nation in Apartment Occupancy Increase

Warren AdamsAfter reading a July 7, 2014, article by Ben van der Meer, Staff Writer for the  Sacramento Business Journal, a potential growth area for investors seems to be emerging.

The article points to job growth, high rental occupancy rates (as high as 96% in California), and increases in rental rates.  These factors all lead to a shortage of rental space.

The most intriguing portion of Van der Meer article is a quote by Jay Denton of Axiometrics (an apartment data research firm).  In the article Denton, reflecting on current growth rate, states,  “Rent growth that’s expected on this pace is 5 to 6 percent, and it could be even stronger,” he said. “Simply because there’s not much new in the way of supply anytime soon.”

The article states further that “Within the region, Citrus Heights saw the greatest year-over-year gain in rents, 14.4 percent, going from a median of $869 a month to $995. Downtown Sacramento, which includes the popular midtown neighborhood, saw an 11.3 percent gain in occupancy to 92.3 percent, while the Arden Way corridor, at 96.8 percent, has the highest overall occupancy rate among submarkets.”

Read the entire article click here,  then contact our office.  Our experienced real estate agents can help you find properties to suit your investment needs.

Real Estate Rebound

Good News for the Housing Market 

Sacrament Real Estate, Warren Adams

The housing market is beginning to roar back. Existing home sales have risen for two straight months after suffering declines since the summer months of last year. The pending contracts also show robust gains, implying home sales will further rise over the near term. Also there is sizable pent-up housing demand looking to emerge. The timing is uncertain. But the pent-up demand implies home sales have much room to rise over the next few years.  For the full story, Click  HERE!

 

 

Top 10 Escrow and Closing Questions & Answers

Escrow, pending sale“Closing” or  “escrow” is listed as one of the top ten problem areas that occurs in a real estate transaction.  It is probably the least understood, and most feared, aspect in a property purchase. Misunderstandings about closing costs can result in hundreds or even thousands of dollars of needless expenses, and put seemingly solid deals at risk. This final step to your purchasing a home or property can go smoothly if you take a few precautions beforehand. Knowing what questions to ask and reviewing all documents well in advance of the closing day will prepare you for a hassle-free and smooth closing.

Click Here for an article on getting answers to common closing and escrow questions to help make your home buying process go smoothly and perhaps to save you money in the process.

 

Homebuyer Incentives Offered!

Fannie Mae, buyer incentives,Fannie Mae is offering up to a 3.5% incentive for owner-occupant buyers who reqeust the incentive at their initial offer during the first Look period on select HomePath properties.

Check out HomePath.com for details regarding this fabulous opportunity.

 

FHA’s “Back To Work” Program

FHAOn August 15, 2013, the Federal Housing Administration (FHA) implemented the “Back to Work” program to help borrows that would otherwise not qualify for an FHA mortgage because of the FHA’s waiting periods for foreclosures, bankruptcies, deeds in lieu or short sales.  This can be great form of financing for those buyers that meet the financial  criteria.  However, it’s imperative that both the buyer and realtor understand, and comply with, the housing counseling component of the program. For more information on the “Back to Work” program, please click HERE.

HUD Home Bidding Update!

Hud Homes - CaliforniaBeginning on September 23, 2013, back up bids will no longer be accepted for HUD homes in Sacramento County. Please see link  at BLB Resources for full details.  Please feel free to contact me anytime for information on HUD homes in the Sacramento area.

Foreclosure Update: Numbers Climb in Multiple States

bank owned open houseThe past few months have seen many conflicting reports about the status of the national REO market. Most states have seen the numbers of foreclosures drop considerably since even a year ago; the most recent reports from California in particular show Fannie Mae foreclosures barely a quarter of what they were in 2011. Nevertheless, “shadow foreclosures” remain hidden from view, particularly in judicial foreclosure states like Florida. Other states are moving ahead now as well.
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The Real Deal on REO Property

bank owned homeI recommend a couple of interesting new articles that combine to shoot down a lingering REO market myth: That HUD Homes, bank foreclosures or other REO property listings represent a major discount from more “conventional” real estate listings. They absolutely are a great value, though. Why? Because the real deal arrives with the benefits offered by those REO sellers.
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