By Don Dunning | October 25, 2010
There are endless examples of how owners of distressed homes have had their situations made worse by unthinking, unfeeling, uncaring banks. An online New York Times article today on Yahoo, “Owners Seek Short Sales as Banks Push Foreclosures,” provides further documentation of this problem. The article explains how lenders often accept fewer dollars by foreclosing […]
Read MoreBy Don Dunning | October 23, 2010
At a time when people need more help than ever to buy or refinance a home loan, lenders have tightened the screws on qualifying. According to a recent article in Smart Money magazine, “Credit Scores: How 720 Became the New 680,” millions of folks who not long ago were eligible for the best rates and […]
Read MoreBy Don Dunning | October 20, 2010
I have received a number of inquires from clients and those who read my newspaper column about a “3.8% ‘sales tax’ on homes sold after 2012.” There are a lot of rumors and much incorrect information going around, especially online. Here is a statement from the California Association of Realtors (C.A.R.): “Misinformation has been spreading […]
Read MoreBy Don Dunning | October 16, 2010
This is the third, seriously down market in my more than 30 years in real estate and I notice buyers and sellers repeating some of the same mistakes. These include buyers paying well over asking on properties that do not appear to justify the high price and sellers listing too high for the market.
To get a clearer picture of the situation in Oakland, I researched a specific subset of properties. The results confirmed my observations.
Read MoreBy Don Dunning | October 8, 2010
Wednesday, October 6, was the first day of the Fall meetings of the California Association of Realtors (C.A.R.) in Anaheim. 900 Realtors attended the 2011 housing market forecast by C.A.R. chief economist Leslie Appleton-Young, an always popular session. We were told that the weak economic recovery has led to a projected 10% decline in 2010 […]
Read MoreBy Don Dunning | September 28, 2010
Last year, as a director of the California Association of Realtors, I attended an information session about the National Association of Realtors (NAR) “Realtors Property Resource” (RPR). I walked away impressed with the scope and functionality of the program, begun in 2009 at a projected cost of twenty to twenty-five million dollars. Approximately 147 million […]
Read MoreBy Don Dunning | September 16, 2010
Last May, Senate Bill 183 (Lownethal) was signed into law. It mandates carbon monoxide detectors in all homes that have a fuel-burning appliance, fireplace or attached garage, one and two-family units and townhouses, and other “dwelling units” such as “factory-built homes, condominiums, motels, hotels, dormitories” and apartment houses. On January 1, 2011, sellers will need […]
Read MoreBy Don Dunning | August 24, 2010
Years ago, my wife and I had serious issues with our sewer line and had to totally replace it. One of our considerations at the time was to use the latest, trenchless technology. We ended up using traditional methods because a section of our pipes went through concrete and this does not work with trenchless. […]
Read MoreBy Don Dunning | August 22, 2010
If you are making payments on a house that is worth substantially less than your loan, you may have thought about how to get out from under this burden. Financial, legal, tax and credit ramifications are all important in deciding which route to take.
Read MoreBy Don Dunning | August 14, 2010
My latest article, “The Changing World of Choosing an Agent,” must have struck a resonant chord because I have received numerous phone calls about it. Those who responded shared their experiences of both buying and selling real estate in this area and their disappointment with one or more of their agents. These agents had not […]
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