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More real estate professionals report finding pets left behind in abandoned homes from home owners who had been evicted from their properties due to foreclosure. The American Society for the Prevention of Cruelty Animals had estimated in 2009 — the most recent statistic — that up to a million animals would be left behind in foreclosed homes, shelters, or outdoors from the foreclosure mess.

The animals often are left behind without food or water, suffering a slow death of starvation and dehydration — unless they happen to be found in time by a real estate professional surveying the property. 

Some real estate professionals are reaching out to help the forgotten pets. For example, Cheryl Lang, president of Integrated Mortgage Solutions in Houston, formed a nonprofit group, No Paws Left Behind, a network of those in the real estate industry. Her group has rescued at least 1,000 animals nationwide since it started in 2008. 

Source: “Foreclosure Pets Often Left Starving in Abandoned Homes,” Asbury Park Press (Oct. 26, 2011)

 Anyone in the western El Dorado County, Placerville, CA. regions may contact organizations like the Grace Foundation of El Dorado County for assistance. They also accept monetary donations and volunteer assistance…here’s there website: http://www.thegracefoundationofnorcal.org/

Low appraisals that come in below the purchase price are still delaying closings or killing some sales contracts, real estate professionals say in a survey from April.

One out of 10 real estate professionals–or 11 percent–say that low appraisals are causing home sales contracts to fall through. An additional 10 percent say low appraisals are delaying closings, according to an April survey by the National Association of REALTORS®. About the same number of real estate professionals reported the problems with low appraisals in a March survey.

About 14 percent of real estate professionals reported that appraisals below the purchase price are requiring extra negotiating in order to get the deal closed.

“Short sales and foreclosures are still priced too high by the lenders, who do not believe the agents information concerning actual market conditions,” said one real estate professional in the survey comments.

Source: “Appraisals Still Kill Home Sales,” UPI.com (May 25, 2011) 

Other articles relating to the Sacramento and Placerville, California regions at: www.sierraproperties.com

With a boost from the first-time homebuyer tax credit, the housing market may be headed for a sustainable recovery beginning in 2010, according to NAR’s latest forecast. NAR projects existing-home sales to be 5.01 million in 2009, up 2.0 percent from a year ago, before rising 13.6 percent to 5.69 million in 2010. New-home sales are also expected to rebound, rising from 397,000 in 2009 to 549,000 next year. First-time buyers are leading the recovery, accounting for 47 percent of all home sales over the past year, up from 41 percent from a year ago.

Home prices will begin to stabilize in 2010. “We’ve seen a steady downtrend in housing inventory for well over a year, and home prices appear to be in the early stages of stabilizing,” says NAR chief economist Lawrence Yun. “With expansion of the tax credit to additional buyers through the middle of next year, and no major unforeseen events impacting the economy, home prices should rise between 3 percent and 5 percent in 2010, but with wide geographic differences,” Yun says.

Historic Placerville’s gold country now offers a multitude of colors. Trees, shrubs and native brush come alive with fall’s vivid palette. Highway 50 from Shingle Springs through Placerville to Camino is an excellent tour base, offering numerous side loops and historic sites.
 
 “Apple Hill” orchards, farms, ranches and their restaurants welcome visitors with bakeries and fall harvest treats. Trips can vary from short jaunts to day-long tours from Placerville to the Camino areas north of Highway 50. Gold Bug Mine and the many shops on the Main Street of Placerville offer other attractions. It’s also worthwhile to just drive through the scenic side roads going one way, then back another.
 
Maps and other tourist information are available on web sites or contact us for any questions or assistance. We’ve served the “Mother Lode Country” for over 45 years with all types of real estate services.

Feds Treasury Department announced today, government will buy securities issued by Fannie Mae and Freddie Mac backed by new loan revenue bonds. These would be issued by state and local housing finance agencies. The initiative includes a second component in which Fannie and Freddie will assist state and local agencies to refinance existing bonds to lower their cost. 

California Housing Finance Agencies acting executive director,  Steve Spears, said the initiative will “help revive CalHFA lending programs and give California first-time home buyers a chance to take advantage of the highest affordability levels that have been seen in almost two decades.” 

So is this an indication the current $8,000. credit for first-time home buyers is not going to be extended? Why is the “Housing and Economic Recovery Act” passed last year seemingly only going to first-time buyers?

SAN FRANSICO, August 31, 2009, Realty World has been selected for the 2009 Best of Business Award in the Real Estate category by the Small Business Commerce Association (SBCA)

The Small Business Commerce Association (SBCA) is pleased to announce that Realty World has been selected for the 2009 Best of Business Award in the Real Estate category.

The SBCA 2009 Award Program recognizes the top 5% of small businesses throughout the country. Using consumer feedback, the SBCA identifies companies that we believe have demonstrated what makes small businesses a vital part of the American economy. The selection committee chooses the award winners from nominees based off information taken from monthly surveys administered by the SBCA, a review of consumer rankings, and other consumer reports. Award winners are a valuable asset to their community and exemplify what makes small businesses great.

Small Business Commerce Association (SBCA) is a San Francisco based organization. The SBCA is a private sector entity that aims to provide tactical guidance with many day to day issues that small business owners face. In addition to our main goal of providing a central repository of small business operational advice; we use consumer feedback to identify companies that exemplify what makes small business a vital part of the American economy.

SOURCE: Small Business Commerce Association

How do job losses correlate to economic recovery? 

The “next round” of foreclosures, now beginning? 

Are delinquent loans being helped by congressional actions? 

JOB losses are the primary causes for foreclosures. A huge number of adjustable-rate loans of “prime” (not subprime) borrowers is now beginning to “reset to higher loan payments”. Many of these are job holders of “White Collar Workers” facing or already unemployed. Therefore, future monthly record delinquency rates are likely, until the right answers are discovered by Congress. 

Government “Fix” programs are not making a dent in resolving the real problems. “Loan modifications”, one of the pipe dreams, is one of the classic examples. Home owners who want to pursue affordable payments and conditions believed available seek this choice. Months later, they are waiting for approval but find out the lender foreclosed. 

Other options considered also typically encounter chaos, frustration endless delays or no responses! Foreclosures add thousands of dollars to the lenders losses. Typically, when they get the home back, it may be worth half the original loan amount. Plus, the borrower often remains in the home for over a year, not making payments. (Good for them!) 

Obviously, jobs must be retained and created! Additionally, let’s face reality. Unemployment nationwide for many months has not been under 10%. True unemployment is at least 20% when including the “self employed and independent contractors” who are not entitled to unemployment benefits!

Behind on monthly payments?

What information and options are available?

How could your “credit scores” be impacted?

The “Homeownership Preservation Foundation” is an excellent FREE resource. Their website www.995hope.org offers a diversified amount information and solutions for your alternatives. Whether you’re in your in Placerville or any part of the USA, this will help. Online counseling, videos and other educational resources cover about any scenario.

Contact your lender to see what kind of advise or assistance they may offer. Many are beginning to have customer service or mediation departments. This will not be a quick or easy process so, be patient. Keep notes, names and phone numbers.

Professional counselors can be helpful but check their experience and expertise. Be cautious, there are a lot of scammers out their, so do not pay up front fees.

Here’s the likely options you may consider and how will your “credit scores” be affected:

“Loan Modifications” depending on the exact conditions of changes may not have much impact. This is an excellent choice if you want to keep your home.

“Short sales” according to research, can reduce your credit scores by as much as 130 points.

“Foreclosure” can cause a fall of 200 points or more. Negative marks on credit bureau files may last 5 to 7 years.

“Bankruptcy filings” on the average drop you scores around 300 points and reflect on credit bureau files for 10 years.

Cap and Trade passed the House. Now the Senate is working on their version of the Waxman-Markey bill. It appears the final result may include a new “National Building Code”. Homes would have to undergo and pass an “environmental inspection” when sold.

Mandated compliance of these new energy efficiency standards would make selling more expensive and difficult. Older homes and fixer uppers could represent cost prohibitive situations for sellers. Buyers would lose an opportunity to remodel, repair or upgrade with their options and desires. 

Obvious other ramifications from this will only further delay economic recovery. Other government regulations forced on home sales and the loan industry  this year,  have already had  negative impacts. The “American Dream of Home Ownership” is only being contradicted by much of this legislation.