HUNTINGTON BEACH

Realtors are blaming appraisers again for not increasing home prices

Nov 222012

Appraisers it’s not the appraisers job to start a new bubble. Real estate appraisals under scrutiny Published: Nov. 16, 2012 Updated: Nov. 19, 2012 10:07 a.m. By MARILYN KALFUS/ THE ORANGE COUNTY REGISTER When Cris Robinson put her Rancho Santa Margarita townhouse on the market earlier this year, she noticed that the only nearby homes selling were foreclosures and short sales. “There wasn’t a single standard sale to (compare) me with,” said Robinson, an equity seller. Robinson said a buyer offered to pay $317,000, but the appraisal came in at $310,000 – the price at which another home in the neighborhood recently sold. That townhouse was the same model, Robinson said, but it was distressed and needed work. By contrast, [Read More...]

FHA is $13.5 billion short in it’s insurance….so far

Nov 162012

There will be further reviews Review finds FHA mortgage insurance fund short $13.5 billion By Christina Mlynski November 15, 2012 • 5:24pm An audit of the financial situation at the Federal Housing Administration finds the mutual mortgage insurance fund is short a projected $13.48 billion. The FHA will likely ask Congress to petition the Treasury to make up the shortfall. The fund essentially insures home loan payments for lenders in cases of default, and the FHA insurance book currently covers $1.13 trillion in unamoratized insurance in force. Considering this, independent auditor Integrated Financial Engineering Group expects the fund to be in better health in the years to come. By 2019, it could reach positive $54.25 billion. Still, the new projected [Read More...]

Tax forgiveness for the uncollected mortgage debt set to expire on December 31st

Nov 112012

Now the Congress hasn’t decided to extend tax forgiveness, however with all the stimulus the Federal government is doing I think the will extend a year or two. Tax break for struggling homeowners set to expire By Les Christie @CNNMoney November 7, 2012: 8:11 AM ET NEW YORK (CNNMoney) — The clock is ticking on a tax break that saves struggling homeowners from paying thousands of dollars to the IRS. If the Mortgage Forgiveness Debt Relief Act of 2007 does not get extended by Congress by the end of the year, homeowners will have to start paying income taxes on the portion of their mortgage that is forgiven in a foreclosure, short sale or principal reduction. So if you owe [Read More...]

Home prices make slight improvement

Nov 022012

I would be very cautious on calling this a recovery. However, I doubt you’ll see big drop in home prices, unless some economic disaster. S&P/Case-Shiller: Home prices rise 0.9% By Kerri Ann Panchuk October 30, 2012 • 8:02am U.S. home prices edged up 0.9% in August as 19 of the 20 cities studied in the Standard & Poor’s/Case-Shiller index posted positive monthly gains from July. The price jump beat analysts’ expectations with Deutsche Bank forecasting a more modest 0.4% home price increase in August. The 10-city composite index experienced an annual price gain of 1.3%, while the 20-city composite grew by 2% over last year. Eighteen of the metros studied posted price gains from July, an indicator in line with [Read More...]

Bernanke finally realizes that he is very unpopular

Oct 262012

This guy shouldn’t even run a small bank. Bernanke probably won’t stand for third term at Fed – NYT Reuters – Tue, Oct 23, 2012 7:32 AM EDT REUTERS – U.S. Federal Reserve Chairman Ben Bernanke has told close friends he probably will not stand for a third term at the central bank even if President Barack Obama wins the November 6 election, the New York Times reported. Republican presidential nominee Mitt Romney has already said he would not re-nominate Bernanke if he wins the presidency. Bernanke’s term as chairman ends in January 2014. Bernanke, who was first appointed to run the U.S. central bank by former president George W. Bush and was given a second term by Obama, has declined to [Read More...]

Don’t overpay for a home and regret your decision. Let our reports guide you to a better deal.

Oct 212012

Don’t bid on a house until you see our report! It’s that important. Are house prices inflated or undervalued? What should house prices be in your search area? Are the neighborhoods and cities you are looking in overvalued? Are you missing opportunities in nearby communities? Our report has those answers. Are you better off renting instead of buying? Will your cost of ownership be more or less than a comparable rental? Is it currently cheaper to own or rent? Has it always been that way? Our report has those answers too. Save thousands on your next home. Be smarter than bubble era sheeple who overpaid and lost their homes. Get the OCHN newsletter right now. You can’t afford to wait. [Read More...]

This is the best report for Orange County Real Estate and it’s free!

Oct 202012

Have house prices always been this high? Our report has the answers you’re looking for.

Oct 172012

The West Coast has had the biggest drop in foreclosures

Oct 152012

This is due to California having the biggest drop in foreclosures. West Coast Foreclosure Starts Plunge in September: ForeclosureRadar 10/11/2012 By: Esther Cho Foreclosure starts fell dramatically in all five West Coast states tracked by Foreclosure Radar, confirming suspicions that a foreclosure wave may not arrive. “It was recently reported that the nation’s five largest mortgage servicers have implemented all of the 320 servicing standards required under the national mortgage settlement,” stated Sean O’Toole, founder and CEO of ForeclosureRadar. “The continued decline in Foreclosure Starts clearly shows that even though servicers are now apparently in compliance and clear to move forward with foreclosures, they are still in no rush to foreclose on the majority of delinquent borrowers.” In September, [Read More...]