By Don Dunning | February 28, 2010
According to a survey by the California Association of Realtors (C.A.R.) of 2009 home sales in the state, “nearly three-quarters…sold as a result of financial difficulties.” These included “trouble making mortgage payments, job losses and increases in monthly mortgage payments.” Interestingly, almost half of all sellers owned their homes for two years or less, up […]
Read MoreBy Don Dunning | February 26, 2010
In November 2009, to pump more life into the housing market, the federal government extended the $8000 tax credit for first time home buyers to April 30th, 2010. In addition, those who have previously owned a home can apply for a $6500 credit. Check the IRS website for answers to questions about the program and […]
Read MoreBy Don Dunning | February 21, 2010
Looking to buy a house is like trying to find a mate; you have to be willing to go through a lot of frogs before you find your prince or princess. Despite numerous changes in the business, one thing has remained constant – too many buyers in this area, either out of frustration or pressure to purchase, settle for much less house than they could have had, or buy a good house, but at too high a price.
Read MoreBy Don Dunning | February 19, 2010
For the second time in the past year, the California Association of Realtors (C.A.R.) has headed off another state attempt to double tax its members, most of whom are independent contractors. The legislation would have required employing real estate brokers to deduct three per cent of each licensee’s commission payment and send this to the […]
Read MoreBy Don Dunning | February 12, 2010
The typical buyer knows little about real estate contracts and less about how banks that own properties (REOs, Real Estate Owned, in Realtor talk) alter those agreements so they are much less friendly to purchasers. If you are considering buying a bank-owned home, make sure to talk to your agent about the “addendum,” really a […]
Read MoreBy Don Dunning | February 7, 2010
Got back yesterday from California Realtors meetings in Indian Wells — lots of sessions about problems in working with banks on short sales and bank-owned homes (REOs). Sellers who are underwater with their mortgage, and choose a short sale, need to make sure that is the best choice for them. Banks are commonly having these […]
Read MoreBy Don Dunning | February 4, 2010
Yesterday was a beautiful, sunny day here in Indian Wells. Directors of the California Association of Realtors (C.A.R.) had a number of important things on the agenda, including the first major revision to the purchase contract in many years. I thought that was going to be the hot topic until I heard about the proposal […]
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