FANNIE MAE

:- says housing market to continue to improve despite lackluster economy . http://www.dsnews.com/articles/index/fannie-mae-housing-market-to-press-on-while-economy-lags-2012-12-18

NOVEMBER NORTH COUNTY REAL ESTATE STATISTICS

Sales of all North County real estate types were down 15% in November  over October but up 13% over November of last year. The first 11 months of the year are up 10% for the same time period in 2011. Properties in escrow are down 17% from last month and also down 17% from November  of 2011. Active listings on the market were down 8 % from October  and also down 27% from the same time last year.  Smaller inventories of properties for sale are having an effect.

Sometimes It Feels Good to Know You Were Wrong

 - a lot of us in the real estate business (myself included) were fearful that when the banks, via prodding from the feds, slowed up doing foreclosures that it would just produce a big backlog o

f them that would make things even worse. Thankfully, it appears at least for the present, that is not happening and in fact the opposite is happening.  Check out this San Francisco Chronicle article here

LOWER INTEREST RATES DO NOT HELP THE ECONOMY

--if you don't loan the money to anyone. :-) . Ben Bernanke scolded the banks - Check out this San Jose Mercury article  by clicking here

ANOTHER SIGN THE MARKET IS IMPROVING

Foreclosure Buying Opportunities Dwindling - go to http://www.car.org/newsstand/newsreleases/todaysheadlines/

OCTOBER NORTH COUNTY REAL ESTATE STATISTICS

Sales of all North County real estate types were up 22% in October over September and are up 25% over October of last year.  The  first 10 months of the year are up 10% for the same time period in 2011. Properties in escrow are  up 2% from last month and also  up 3% over September of 2011. Active listings on the market were down 1 % from September and also down 25% from the same time last year.

2013 REAL ESTATE FORECAST

- by the California Association of Realtors is now available here

NOTHING IS WORSE

--then having your home catch on fire, as we have seen from some of the recent wildfires in other parts of the country. Although we have been pretty lucky here for the most part this year, it can happen to you at any time. 

Those of us who have country homes are especially vulnerable as we normally have more more combustible materials around us and response times from the authorities are a lot longer. Check out this good article as a great FYI .    Click here now

Shortage of Homes for Sale Statewide

 - Check out this SF Chronicle article. We are experiencing the same thing here. Go to -http://www.sfgate.com/business/article/Shortage-of-California-homes-up-for-sale-3872725.php

AUGUST NORTH COUNTY REAL ESTATE STATISTICS-

Sales of all North County real estate types increased 4% in August over July  and also up 4% over August  of last year. The first 8 months of the year are also up 10% for the same time period in 2011. Properties in escrow are almost virtually identical for August vs. July and up 4% from the same month in 2011 . Active listings on the market are up 3 % from July and also down 25% ! from the same time last year. Things are still on a solid and improving basis for this year.

Another Bright Light for Home Buyers

-- Besides lower home prices and extremely low interest rates at the present time, there is another big advantage for today's buyers. That is: lower closing costs! Check out this CNN article here

One Owner Financed Sale that Likely Will Never Go to Foreclosure.

.. In the early 1980's current presidential hopeful Mitt Romney invested in Texas real estate and evidently it was not one of his better decisions at the time. However, 

in 1997 he sold one of the houses and carried paper to the new owners and still is. These people could possibly be sending their mortgage check to 1600 Pennsylvania Ave next year. Read the NY times article here

JULY NORTH COUNTY REAL ESTATE STATISTICS-

Sales of all North County real estate types decreased 15% in July  over June but are up 21% over June of last year. The first 7 months of the year are also up 10% for the same time period in 2011. Properties in escrow are up 2% from last month and up 10% over July of 2011. Active listings on the market were down 5 % from June and also down 29% ! from the same time last year. Still a very positive improvement overall in the market and the shorter supply is starting to have it's effect on pricing!

Statewide Real Estate Statistics for the First 6 Months of 2012

--  Click on the link below to see an analysis county by county for the 1st 6 months of this year.http://www.car.org/newsstand/newsreleases/2012releases/668441/

The Light at the End of the Tunnel --

We have a pretty unanimous opinion now from national experts that the housing market is on the rebound. Excellent WSJ article   http://online.wsj.com/article/SB10001424052702303644004577520414196790098.html?mod=WSJ_hpp_LEFTTopStories

JUNE NORTH COUNTY REAL ESTATE STATISTICS-

Sales of all North County real estate types decreased 4% in June over May but are up 21% over June of last year. The first 6 months of the year are also up 14% for the same time period in 2011. Properties in escrow are down 9% from last month and up 13% over June of 2011. Active listings on the market were up 2 % from May but down 27% from the same time last year. All in all, this year is showing an improvement over last year and 2011 showed a large improvement over 2010. The biggest news is the continued drop in properties on the market.

Pending Sales Up and Distressed Property Sales Down Statewide

-   As reported here this month,  sales are up and bank owned sales are down here in northern SLO county.   That same trend is here statewide.  Check it Out Here

New Underwriting Guidelines

Thinking of Refinancing or Taking Out a Loan for a new Home Purchase? - Underwriting guidelines have changed so you may want to read to see if any of these may apply to you. Check this Out!

Bank Owned Sales in North County Drop

 In 2011 37% of the homes sold in the North County were Bank Owned Properties.   Year to date for 2012 that number has dropped to 26% of the residential sales.  Short sales, (where the seller is "underwater"meaning they owe more on their home then the asking price and the lender agreed to take less then the loan balance to close the sale) accounted for 17% of the sales in 2011 and year to date in 2012 they are now 21% of the sales.   Combining together the short sales and bank owned properties for 2011 they accounted for 54% of the sales last year.  This year together they are at 47% of the sales so far.   The short sales have climbed some over the bank owned foreclosure sales as most of the large lenders now realize that it is in their interest to not have to take the property back in foreclosure and taking less on their loan balance through the short sale process can be better in many cases.   The best news of course is that distressed property sales as a whole are on the decline here as a whole while the market in totality is on the upswing. 

MAY NORTH COUNTY REAL ESTATE STATISTICS-

Sales of all North County real estate types increased 21% in May over April and also up 22% over May of last year. The first 5 months of the year are also up 12% for the same time period in 2011. Properties in escrow are down 3% from last month and up 11% over May of 2011. Active listings on the market were up 1% from April but down 28% from the same time last year. We are looking forward to the same positive upturn we saw in the market last year.

LIKE LIVELY COLORS IN A HOME?

 - With all the emphasis on Tuscan styles these days, we are definitely in a trend of different and lively colors in each room these days. However, one home now for sale in Agoura Hills really takes it to a new level. Take a look at the 7,000 sq. ft.   "Kaleidoscope Home"  http://www.realtor.com/blogs/2012/05/15/zomg-this-house-cray-kaleidoscope-home-lists-agoura-hills-ca-photos/  

15 Year vs. 30 Year Mortgage

15 Year vs. 30 Year Mortgage - the rate differential between a 15 yr. mortgage and a 30 year is now at it's highest and with the already low interest rates, the pay down on principal is even better plus the difference in payment amounts is less then ever. Strongly consider a 15 year now when buying or refinancing. Check It Out Here

APRIL NORTH COUNTY REAL ESTATE STATISTICS

APRIL NORTH COUNTY REAL ESTATE STATISTICS-
Sales of all North County real estate types decreased 6% in April over the month before but are up 4% over April of last year.  The first 4 months of the year are also up 9% for the same time period  in 2011.  Properties in escrow are up 3% from last month and up 22% over April of 2011. Active listings on the market were down 1% from February and also down 28% from the same time last year.  A positive trend still continues over 2011 and 2011 way exceeded 2010.

Bidding Wars Are Back --

 - As we are seeing a lot of multiple offers again in our market, it is also happening nationwide. Check out this Wall Street Journal article:     Click here

Looking for an Excellent Value?

 - this 21.7 Acres within 2 miles of Paso has  panoramic views and even an old 3 bedroom 1 bath house of app. 1050 sq. ft.  which could serve as a place to hang out before you build or while you are.   Go to  here to see

A COUPLE OF MISCONCEPTIONS ABOUT TWO REAL ESTATE TAX WRITE-OFFS

 that a lot of people do and could apply to you.    Good article by Tom Kelly in Inman News--  Read it now

MARCH NORTH COUNTY REAL ESTATE STATISTICS

- The new and stronger trend in real estate activity  continues.   Closed sales are up 11%  the first quarter of this year  vs. the first quarter of 2011

  Sales of all North County real estate types increased 20% in March over February and are up 13% over March of last year. Properties in escrow are up 10 % from last month and up 24% over March of 2011.  Active listings on the market were up 25% from February but down 25% from the same time last year.    All in all, a real positive trend continues to hold up. 

Umarried But Own a Home with Your Significant Other?

 - there has been a recent development in how home mortgage interest may be treated and is especially applicable to those with large loans . Read more at here

15 Acres on Templeton's Westside

 -- Located in the Santa Rita Creek area, this beau. property has a 2,400 sq. ft. newer barn, 1 acre Zinfandel vineyard, well, a secluded location and is only a short drive to town.  Go to Here

FEBRUARY NORTH COUNTY REAL ESTATE STATISTICS

- Activity continues to increase and the big news is at the bottom so keep reading!
 Sales of all North County real estate types increased 12% in February over January and are up 19% over February of last year.  Properties in escrow are up 7 % from last month and up 11% over Feburary of last year. Active listings on the market are down 31% when compared to the same time last year.  The inventory of properties on the market is down a whopping 43% from the same time last year!!

IT"S EVERYWHERE!

- As I reported at the 1st of the month, properties available for sale in the North County are down a whopping 31% from last year at this time. It seems that is happening almost everywhere across the nation. So; prices are at 2001-2003 levels, interest rates are at record lows and inventories are almost 1/3 down. What does economics 101 tell us?? Time to buy?? Check out this Wall Street Journal article. Click here

In the Heart of the Wine Country

Looking for Vineyard Property or a Prime Location for a New Country Home? - then take a look at this very nice app. 81 acres in an area of vineyards and country estates.  Click Here

A Huge Problem

 - for homeowners  has been that if they owe more on their home then it is worth (underwater)  they have not been able to refinance and  lower their interest rate with the new low rates since the home will not appraise for the amount owed on it.  However, if you are current on your payments and if  your loan was backed by FNMA  (fannie mae) or FMAC freddie mac) on or before 5/31/2009, you may be luck.    You can now refinance your home no matter what the balance may be to the new current rates and lower your payments if you meet customary underwriting guidelines.   To learn more, go to http://www.mainstreet.com/article/real-estate/more-help-homeowners-harp-20

JANUARY NORTH COUNTY REAL ESTATE STATISTICS

- Sales of all North County real estate types decreased 23% in January over December and are down 1% over January of last year. It is normal for January closed escrows to be much lower then December due to not many escrows being opened in November and December due to the holidays. Properties in escrow are up 15 % from last month and up 24% over January of last year. Active listings on the market are down 31% when compared to the same time last year.

New Listing

- Beau. 3 bdr. 2 1/2 bath with an office on 3.4 acres -- See Here

THE TRUTH AS THOSE IN THE KNOW KNOW IT TO BE

- For some time now politicians have been using FNMA and FREDDIEMAC as the whipping boys in the mortgage mess because unfortunately it is hard for the general public to understand the roles these institutions play in real estate finance. It is also unfortunate that most politicians do not understand it either. That is why it was good to see this recent articlecheck this out

Beautiful Ocean View Cayucos Home

Beautiful Ocean View Cayucos Home -- If you or anyone you know is looking for a absolutely killer house, take a look at this 4 bedroom 4 bath of app. 3,700 sq. ft. with whitewater views. Check this out and turn on your sound and check out the virtual tour at the upper right.  Click here

THE LIGHT AT THE END OF THE TUNNEL

 - may not be an oncoming train. More positive news on the national scene regarding foreclosures from Realty Trac- go to this article

YEAR END NORTH COUNTY REAL ESTATE STATISTICS

-  For the 1st time in the past 7 years Northern San Luis Obispo County has shown an increase in property sales over the year previous. Sales of all property types increased 19% in 2011 over 2010.   Properties in escrow were up 4% in December over December of 2010 and the inventory of property on the market is down 15% from the same time last year.  The average price of a home in Paso Robles declined 2% in 2011 over 2010 but that happened mostly in the 1st part of the  year and that is the lowest per annum drop in a long time.   With the increase in sales and the lowering of the amount of property on the market for 12 full months, one can likely assume that this market has at a minimum stabilized for the time being.  That coupled with lower interest rates and some great buys still on the market should give buyers some motivation if they have been on the fence.