New Rules From FNMA-

  Fannie Mae, who either buys or guarantees app. 28% of all of the residential loans , has some good and some bad news . Good for buyers getting part of their down payment as a gift from relatives. The bad news is for those that have gone through foreclosure or who have other revolving debt. Rea...d the NYT article at http://www.nytimes.com/2010/11/21/realestate/21mort.html?_r=2&ref=realestate

BANK OWNED HOMES SALES IN THE NORTH COUNTY

-  Wondering how many homes sales in the north county are bank owned foreclosures?   Year to date they account for 34% of the home sales in our area.    That is the same exact percentage of our sales for the same time period last year in 2009. 

OCTOBER NORTH COUNTY REAL ESTATE STATISTICS

-Numbers of closed sales in October 2010 were up 7% from September. Year to date sales for 2010 are down 8% when compared to the same time frame in 2009. Pending sales (open escrows) are only 1 escrow apart from September to October so virtually the same. The amountof listings on the market is also just 5 properties different from the same time frame in 2009.