By Don Dunning | August 7, 2009
Experts are predicting continued large numbers of foreclosures in California as those in trouble with their home loan has increased from six per cent a year ago to almost ten per cent in June. These figures come from a recent Los Angeles Times article. An industry analyst was quoted as saying that sixty per cent […]
Read MoreBy Don Dunning | August 3, 2009
Although I have been doing hourly real estate consulting for nearly half of my 30 years in the business, there are not many fee-based real estate consultants out there. Many may say they do by-the-hour consultation, but few really understand what that means. Recently, a couple interested in purchasing a Northern California home listed in […]
Read MoreBy Don Dunning | July 31, 2009
Although some of the cities most devastated by foreclosures are experiencing decreased numbers, others that have been mainly spared appear to be the next to be hit. An article from cnnmoney.com, “Foreclosures: How Bad Is Your City?” indicates that the “third wave” of foreclosures will come from “option-ARM resets.” Seattle, Minneapolis and Phoenix were three […]
Read MoreBy Don Dunning | July 23, 2009
New Federal Reserve regulations to protect consumers are due to go into effect on July 30th. Soon, lenders will be required to provide borrowers with an estimate of their mortgage costs within three working days of the loan application. In addition, the only upfront cost that may be collected prior to this disclosure is an […]
Read MoreBy Don Dunning | July 17, 2009
As everyone knows, the real estate market is in the doldrums; however, several factors indicate a current opportunity for both buyers and sellers. Interest rates fell for the third week in a row to an average of 5.14%, great news for buyers and those who wish to refinance. This is not the lowest ever (4.78%), […]
Read MoreBy Don Dunning | June 11, 2009
On May 25th, I posted my latest article, “Is Waiting to Sell the Best Idea?” The premise was that a number of potential sellers are waiting for the market to improve. Many of these people assume that means a return to a seller’s market, or, at least, a strong “normal” market. I suggested signs that […]
Read MoreBy Don Dunning | June 4, 2009
Day two in Sacramento for California Association of Realtors state directors. Yesterday, 1500 of us went to the Capitol to express our dissatisfaction with certain bills. Many meetings today. Short sales, REOs and foreclosure process, including new laws, discussed in detail. The public doesn’t realize that many licensees handling distressed propereties are not fully versed […]
Read MoreBy Don Dunning | May 27, 2009
Realtors from throughout California, myself included, will be meeting in Sacramento next week for mid-year meetings. Highlighting those sessions will be the June 3rd gathering to make it loud and clear which legislation is on the “oppose” list. Some of those bills, with explanation from the California Association of Realtors (C.A.R.): SB 407 (Padilla) Point-of-Sale […]
Read MoreBy Don Dunning | May 25, 2009
After speaking with homeowners who would like to sell, I’ve observed that many are relying on assumptions that once might have been true, but may no longer be valid. The big question is: What if waiting, as opposed to selling now, turns out to be a mistake?
Some are thinking that the local real estate market will be a lot better within the next few years. If you are one of those waiting for the market to “turn around,” how will you know when that time has arrived?
Read MoreBy Don Dunning | May 23, 2009
Interest rates are at near-record lows, but actually getting those loans is more of a chore than I can remember. This is so because, after years of granting mortgages to anyone who could fog a mirror (and a few who could not), many banks have become incredibly more restrictive. Due to well-intentioned legislation intended to […]
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