By Don Dunning | November 15, 2009
It has been widely publicized that the Bay Area, and East Bay in particular, is due for a huge temblor within the next 30 years…[yet] most buyers in this area show little concern about what will happen to the house they own in an earthquake.
Read MoreBy Don Dunning | November 13, 2009
Recently my buyers closed escrow on their home purchase with a 4.5% loan. Another couple to whom I just sold their first home are thrilled to have locked in a 4.625% mortgage. Meanwhile, if they had owned the home a few years and were looking for a Home Equity Line of Credit (HELOC), they would […]
Read MoreBy Don Dunning | October 25, 2009
A recent study has indicated that homeowners who are “upside down” in their mortgages are more likely to default in “non-recourse” states. This means the lender cannot go after the borrower’s personal assets if he stops making payments. California is one of these non-recourse states. Here, a loan to buy an owner-occupied property of one […]
Read MoreBy Don Dunning | October 18, 2009
In my October 11th blog post, I reported California Association of Realtors (C.A.R.) chief economist, Leslie Appleton-Young’s, comments and predictions about the real estate market. Here are a few more interesting items, with graphs from her presentation: Sellers have a variety of reasons for selling. According to C.A.R. surveys, in 2006 75% of buyers were […]
Read MoreBy Don Dunning | October 16, 2009
As of October 11th, there are seven new California laws relating to real estate mortgages. Among them: SB 36: Those who engage in mortgage loan origination will need to have a special license from either the CA Department of Corporations or the Department of Real Estate, after meeting specified requirements. Comment — Part of our […]
Read MoreBy Don Dunning | October 11, 2009
Got back yesterday from California Association of Realtors (C.A.R) meetings in San Jose. Highlight of our fall get-together is the presentation of C.A.R.’s chief economist, Leslie Appleton-Young. Here are some tidbits; Median home price in CA was $594,500 in May 2007. In February 2009, it was $245,200, down 59% Comparing August 2008 to August 2009, […]
Read MoreBy Don Dunning | October 7, 2009
Selling your house can be stressful, especially in a buyer’s market such as we are experiencing today. Regardless of the type of market, and for as long as I have been in real estate, sellers say some things that do not serve them well.
Read MoreBy Don Dunning | September 26, 2009
According to a recent article, “Feds Plan to Tinker with Mortgage Interest Reporting,” the IRS needs more information to determine who is and is not cheating on their mortgage interest deduction. Currently, the IRS is having difficulty determining, for example, if the interest being deducted on a home-equity loan is correct. Under the present system, […]
Read MoreBy Don Dunning | September 20, 2009
Not long ago, an acquaintance approached me about the possibility of listing his property that was many months behind in payments and was worth, in my opinion, about $125,000 less than he paid not that many years ago. Understanding he had numerous choices, each with potential positive and negative financial and legal consequences, I suggested […]
Read MoreBy Don Dunning | September 16, 2009
Twenty-five years ago, I sold a Montclair home to a couple. Almost a year ago, they called and said they wanted my help finding a home for their friend. After lots of looking, we finally found the right property about six weeks ago. We put in the offer and, lo and behold, it was accepted. […]
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