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Close Fannie Mae deals on time or risk losing the transaction, your deposit, appraisal and inspection fees. Recently, I had a transaction involving the purchase of a Fannie Mae owned foreclsoure (REO) property in Oakley with first time buyers.The contracts Read More...
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Without fail, while showing clients properties or hosting open houses in Brentwood or nearby cities, I get asked “What did this property sell for at the peak?” The response I want to give is “Why does it matter? The market determines Read More...
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All properties in California have a base tax rate of 1% of the purchase price. In addition, taxpayers in individual cities and counties such as Brentwood and Contra County approve bonds to pay for community facilities, services and schools. Brentwood Read More...
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Brentwood and Eastern Contra Costa County housing prices are down 60% and greater from peak prices of 2006-2006. Prices of many Brentwood area homes are nearing $100 per square foot, lower than the cost to build. In addition, the monthly payment for the Read More...
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The recently passed housing law contains a $7500 tax credit for first time buyers but it must be paid back over 15 years. In an earlier post, prior to passage, I stated (wrongly) that the new law would allow buyer of properties a tax credit of $7500 ($500/year). Read More...
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The Department of Housing and Urban Development (HUD) has re-issued a proposed rule which would threaten the opportunity for low to moderate income families to access downpayment assistance by eliminating all private downpayment assistance programs. The Read More...
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Beginning July 14, 2008 the premium paid for mortgage insurance (MIP) on FHA backed loans. The monthly MIP will increase from .50 percent to .55 percent on all loans without a case number assigned before July 14, 2008. In addition, the Up-Front Mortgage Read More...
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A recently published article in the Brentwood Press is amongst the first signs that our media is beginning report that Brentwood and East County may be through the worse part of this market and some of the results of the planning by Brentwood's elected Read More...
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Check out www.BrentwoodConnect.com ! It's a great place for current residents as well as those considering relocating to Brentwood to get information and answers to questions about Brentwood, its government, schools, social events and community organizations. Read More...
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During the past few weeks the sales activity and offers on short sale listings has significantly increased. Every day this week I've received calls inquiring on the availability of our office's short sale listings and have seen multiple offers Read More...
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The table below shows some interesting year-to-date sales versus current pending and active listings data for Eastern Contra Costa county. Agents, prospective buyers and the media are all reporting increases in home sales activity. City/ Location Sold Read More...
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On March 13, Ocwen, one of the major loan servicing companies, announced that it will no longer negotiate short sales. This decision includes all pre-existing short sale contracts in which Ocwen has not finalized settlement agreements between its borrowers Read More...
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As part of the recent economic stimulus package signed by President Bush, conforming and FHA loan limits for high cost areas has been temporaily increased until December 31, 2008 to $729,750 for high cost areas like Contra Costa, Santa Clara and Alameda Read More...
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Distressed properties make up 60% of today's listings in eastern Contra Costa real estate market. Of 3908 active listings, we have 1276 foreclosed (REO/bank owned properties) and 1078 short sales. Since nearly half of the distressed property listings Read More...
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In the past month Brentwood and Eastern Contra Costa county has seen a surge in buyer activity. This surge seems to be focused on homes priced at or below $350,000 with both investors and first time buyers competing for these properties. Why? 1. Rents Read More...
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