The Stockton Specialist » The Stockton Real Estate Specialist

2009 Foreclosure Storm Expected as Loan Changes Fail

Pat Holkesvig — Thu, 11 Dec 2008 17:13:32 +0000

Interesting article on the foreclosure projections for next year.

Average home prices in Stockton continue to tumble as investors buy lower end homes and the mid to higher end market sales continue to languish. Prices are holding and inventory is
moving in the better newer neighborhoods like Spanos West, Windmill Park and Brookside.

Foreclosure Storm Will Hit U.S. in 2009 as Loan Changes Fail

http://www.bloomberg.com/apps/news?pid=email_en&refer=home&sid=au1wYjy9hoSE

I’m Thankful for CoRE #118

Pat Holkesvig — Tue, 25 Nov 2008 06:47:10 +0000

It’s Thanksgiving week and we are thrilled to host CoRE #118. For those unfamiliar with how the Carnival of Real Estate works, Carnival of Real Estate showcases blog posts submitted by the best of the nation’s real estate bloggers and is hosted on a different real estate blog site each week.

Possible future hosts are mulled over like a good batch of spiced cider and judged using three of a possible 4, 756 criteria. This decision is not taken lightly and once made, the choice, only known by one trusted individual unknown individual (Drew Meyer) is placed in a “hermetically sealed” envelope and kept in a mayonnaise jar on Funk and Wagnalls‘ porch until opened by the same Drew Meyer, himself, and announced via Twitter using the code name “Carny.”
Twenty eight articles were submitted (here is the full list) and I would personally like to thank each and every author for their contribution. Sitting down to the task of reading this many posts was seemingly daunting, but I truly enjoyed the evening. Imagine me sitting next to an open fire, sipping the beverage of my choice, looking out at the driven snow… (Okay, I live in Stockton) But lets get into the Thanksgiving spirit!!

This weeks theme is not original, but needed. Thanks. I chose posts that were positive, helpful, uplifting, and genuine, and Thanks-giving. Oh, and well-written, with meaningful content, and even entertaining to boot… Congratulations and a heart felt thanks were earned by everyone, but I do have favorites… and here they are…

FIFTH PLACE

Purva Brown scooped FIfth Place like a big spoonful of mash potatoes for her post “Ten Things for Realtors to do this Holiday Season”

This well thought out post answers the ever so popular question, “What can a Realtor do to brighten the holiday spirit?” This post is a must read, and please come back here to tell me what an Orple is?? Great post Purva and congratulations!

FOURTH PLACE

Dave Peniuk sampled a Fourth Place for his super helpful post “No Property Manager? 5 Steps to Rent out your Property”

Dave dutifully explains the possible pitfalls of renting a space yourself and how to make sure you are considering the right information, asking the right questions and doing all the right things to get a great tenant. If this post isn’t something for possible landlords to be thankful for? What is…

THIRD PLACE

Jim Reppond sliced himself off a piece of Third Place for his “thank you Apple” super cool, tech post Google Mobile with Voice Recognition for iPhone is Released.

Simply WOW! I have read Jim’s Blog for quite a while and often, mixed in with valuable information about the Seattle Real Estate Market, you get a juicy tech nugget, from this high tech, knowledgeable Realtor.

SECOND PLACE

Ro Troia peeled the Second Spot with her very holiday-spirited post featuring fun ideas of things to do and see that happen Only in Boulder…

Ro describes lots of very cool things to do and see in and around boulder, including the Naked Pumpkin Run? on Halloween day… Bring the whole family!! Ro.. Very fun post. and,,,

FIRST PLACE

Melody Anderson brings desert to the party with TWO posts that just embraced the Thanksgiving spirit. Melodys first post, “Buying a lake home at lake of the ozarks made easier with online technology. This post is a practical guide showing how Google maps and both save a Realtor valuable time, and help them get more acquainted with their clients… Very valuable post. Thank You Melody. And if that werent enough, Melody included a photo blog of a trip down a beautiful fall street on the way to a showing… check it out, its truly amazing…

There were so many great articles, I also HAVE to mention some HONORABLE MENTIONS!!

DIY- Home Security-100 essential tips tools and resources, by Sarah Scrafford. This post is well written and contains tons of links to very cool DIY security stuff. and

3 reasons overpricing your home is worse than chicken pox by Ben Roberts. Great Material, and we can all be thankful for this valuable lesson.

Congratulations to all who won and all who participated, this was an extremely difficult Carnival to judge as so many great articles were submitted. For a Full List of all the Submission, click here.

Keep up to date with future RE Carnivals at carnivalofrealestate.com and let them know if YOU want to host!

CoRE #118 Blog Submissions

Pat Holkesvig — Tue, 25 Nov 2008 04:40:22 +0000

Step RIght Up and See whats behind the Curtain in this weeks Carnival of Real Estate!! Here are ALL of the blog posts that were entered for consideration. All Here and All good.

Grab yourself a Cup of your favorite Thanksgiving beverage and come on it, Everyones Invited!

Jim Reppond presents Google Mobile with Voice Recognition for iPhone is Released. posted at The Seattle Specialist, saying, “Using Google’s new voice recognition technology for real estate and other purposes”

Purva Brown presents Sacramento Real Estate Gal: Ten Things for Realtors to do this Holiday Season posted at Sacramento Real Estate Gal.

Dan Melson presents Stop Short Sale Bait and Switch posted at Searchlight Crusade.

DebbieDragon presents Tips for Choosing the Right Mortgage Loan Analyst posted at Discover Debt Freedom!.

investing

Julie Broad presents Rev N You with Real Estate - 5 Steps to Rent out your Property posted at Rev N You with Real Estate, saying, “Thank you for hosting the next carnival of real estate - and thanks for your consideration!”

Jesse Wojdylo presents ?We Haven?t Seen the Bottom in the Stock Markets Yet? posted at Subprime Blogger.

JCL presents Your Real Estate Investing Team posted at The Real Estate Investing Journey, saying, “Talented people around you will make success much easier.”

Joshua Dorkin presents Real Estate Investors & Landlords: What Kind of Car Should You Drive? posted at Real Estate Investing For Real.

real estate market

Ro Troia presents Only in Boulder posted at Blog the Rockies, saying, “It’s a catchy headline, but I’ve been saying that ever since I moved to Boulder, Co in 1993. Boulder has a unique culture, I guess is one way to describe it. I tell people that someone could walk down Pearl St. naked and no one would bat an eyelash. They did just do that as hundreds of nude runners took the streets with the Naked Pumpkin run this past Halloween. It’s an annual event that takes place every halloween and not one that you would take your children to. Boulder did have a Munchkin Masquerade on the Pearl Street mall for the children that was held during the day.”

Scott Mahler presents Software That Can Help Streamline Business For Commercial Properties posted at Datex Media, saying, “One of the fastest ways to lose a client is to miss out on opportunities you have to serve their needs, which is why in today’s global economy, it is more important than ever to maintain quality customer service. This is especially true, when speaking of commercial property. Whether that commercial property is large-scale real estate or residential, there is innovative software technology that can help maximize the service you provide your tenants.”

Sarah Scrafford presents DIY Home Security: 100 Essential Tips, Tools, and Resources posted at Masters in Criminal Justice.

Jay Friedman presents Send Me Your Homeless?? posted at 805Local, saying, “real estate financing”

Rory Hernandez presents Removal of Acoustic ?Popcorn? Ceilings posted at 805Local, saying, “removing ‘popcorn’ from ceilings”

Shawna Ebersole presents Buyer Agency vs. Limited Agency posted at iShop Greenwood | Greenwood IN Realtor | Greenwood IN Real Estate, saying, “Thanks for reading!”

Joanne presents Real Estate: Return On Investment (ROI) posted at Central Oregon Real Estate.

William Doom presents Fannie And Freddie Suspend Foreclosure For The Holidays | Your Mortgage Planner 2.0 Blog posted at Your Mortgage Planner 2.0 Blog? Your Mortgage Planner 2.0 Blog, saying, “Thank you for Consideration”

Diane Tuman presents Good News for New York State posted at Zillow Blog.

Doug Willis presents Selling Your Home With Effective, High Impact Language posted at Up2Date.

Handy Saputra presents 7 Tips to Affordable Reverse Mortgage posted at Home Loan and Mortgage Info, saying, “Reverse mortgages have become popular over this past couple of years as a way of raising some much needed cash flow! If you have a home that’s paid off, or almost paid off, a reverse mortgage can help you live better by providing a steady stream of dependable income.”

Ben Roberts presents Overpricing your home is harmful to your wallet | Exit Real Estate 540 posted at Exit Real Estate 540.

Dan Green presents What Deflation Does To Mortgage Rates posted at The Mortgage Reports, saying, “Sometimes, a picture is worth a 1,000 hours of analysis on CNBC.”

Stephen Heideman presents The Mortgage Virtuoso : Plunging Housing Starts Is Bad News For Spring 2009 Home Buyers posted at Stephen Heideman, saying, “Home sellers rejoice — builders have stopped building.”

real estate professionals

Sandy Howard presents Asheville Mountain Real Estate Blog posted at Asheville Mountain Real Estate Blog, saying, “Offers tools to compare heating fuels in the ownership, purchase, or operation of a home.”

Melody Anderson presents Showing real estate on a fall afternoon posted at Postcards From The Lake.

Melody Anderson presents Buying a lake home at Lake of the Ozarks made easier with online technology posted at Postcards From The Lake.

Henri Schauffler1 presents Mortgage Broker Jobs: Mortgages In Freefall, But Mortgage Professionals Have Options | Entrepreneur Freedom posted at Henri Schauffler.

That concludes this edition. Submit your blog article to the next edition of carnival of real estate using our carnival submission form. Past posts and future hosts can be found on our blog carnival index page.

JPMorgan puts foreclosures on hold for 90 days!

Pat Holkesvig — Mon, 03 Nov 2008 15:56:42 +0000

JPMorgan won’t be placing any new home into foreclosures for 90 days. It is a start. Will be interesting to see if there is any impact on inventory and ever declining prices. Link to article follows:

BusinessWeek.com article

Why would mortgage servicers rather foreclose than modify?

Pat Holkesvig — Tue, 28 Oct 2008 21:23:52 +0000

Because it is more profitable! The companies servicing loans typically will make more money foreclosing on a loan versus modifying it; giving the servicers very little incentive to help out owners. An article to a CNBC artile outlining the details follows:

Why Banks Are Reluctant To Redo Ailing Mortgages
More than one million homes are likely to be repossessed by the end of the year, making up roughly one-quarter of all US homes for sale.

http://www.cnbc.com/id/27406627/

Stockton’s average price per square foot down to $97 in September!

Pat Holkesvig — Fri, 24 Oct 2008 21:57:31 +0000

The average price per square foot in Stockton has fallen to $97. This compares to $176 a square foot last year at the same time. The trend is not looking positive as more REO inventory is expected. Prices are significantly below replacement cost.

Hold on folks it may be a bumpy ride!

Pat Holkesvig — Sat, 18 Oct 2008 13:38:35 +0000

I am attending REOMAC – a conference for lenders, mortgage servicers, title and real estate professionals involved in selling bank owned properties. Very enlightening. General consensus is that we are 1/3 of the way through the cycle and a turnaround is not expected until 2012 – 22013. Keynote economist suggests prices in California are still too high. Prices will fall until the average wage owner can afford an average home.

New wave of foreclosed properties set to hit market in October

Pat Holkesvig — Mon, 06 Oct 2008 15:11:39 +0000

The housing bill did away with Buyer’s Assistance Programs effective 10/1/08. As a result, the bank asset managers were focusing on closing pending transactions in September and let the processing of new foreclosure properties slide. We’re seeing a flurry of activity now as the asset managers play catch-up. Look for a new wave of foreclosures by midmonth!

Green Lawns for Everyone…

Pat Holkesvig — Sun, 05 Oct 2008 00:07:55 +0000

Check out this story on how the city of Stockton is paying Nick Terlouw to paint abandoned homes… well, not the homes but the lawns of the homes….Green. It adds curb appeal, and makes the house look more lived in, for $200, per lawn…

and I still fertilize, and weed, and garden? I am so old fashioned!!

Stockton Ranks Number One…

Pat Holkesvig — Sat, 04 Oct 2008 16:51:24 +0000

According to RealtyTrac, Stockton, California reported the highest foreclosure rate among the nation’s 100 largest metro areas from Jan to Jun 2007, according to RealtyTrac, an online marketplace for foreclosure sales. Detroit and Las Vegas documented the next highest foreclosure rates. RealtyTrac’s 2007 Midyear Metropolitan Foreclosure Market Report showed the foreclosure activity in the top 100 metro areas for the first half of 2007. As foreclosure rates continue to rise, 82 out of 100 metro areas recorded year-over-year increases in foreclosures.

Stockton reported one foreclosure filing for every 27 households with a total of 8,169 foreclosure fillings on 4,239 properties. The rate of foreclosure has increased exponentially to three times more than the number reported last year, for the same period.

Detroit, with one in 29 households going for foreclosure, recorded the second highest foreclosure rate. A total of 28,705 foreclosure filings were made on 20,231 properties, which is almost double the number reported from Jan-June 2006.