Not sure how I missed this, but Gov. Schwarzenegger last week signed a bill that prohibits a lienholder from pursuing a homeowner for the deficit after a short sale, even on refinanced mortgages. Senate Bill 931 (Denise Ducheny, D-SD), which was unanimously approved by the Senate in August, was s
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10/05/2010
California Gov. Arnold Schwarzenegger on Friday vetoed a bill that would have protected distressed homeowners from the threat of a deficiency judgment after a foreclosure, according to a news release from the California Association of Realtors. SB 1178, which was sponsored by CAR, expanded anti-d
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10/01/2010
The backlog of foreclosures continues to grow and the major credit-rating agency has now increased its estimates of how long it will take to clear out the inventory. Standard & Poor’s (S&P) says it will now take 41 months to sell off the growing supply of distressed homes that haven't yet been pl
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09/30/2010
The Obama Administration issued its monthly housing market scorecard this week, and on the surface, it almost appears that the program is starting to gain traction. But look a little deeper, and trouble is brewing. Loan modification requests continue to outpace foreclosure filings, though only ab
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09/23/2010
The short sale process seems to be hitting its stride, but we still have a long way to go. Homeowners with Fannie Mae and Freddie Mac loans completed 29,375 short sales in the second quarter of 2010, according to a report released Friday by the Federal Housing Finance Agency, which regulates Fred
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09/13/2010
We'd heard rumors. Sightings whispered by weary agents. Pleas from desperate homeowners. Tons of mailers, news clippings and emails touting the elusive prey. But we'd never actually seen an honest-to-goodness closed HAFA short sale. Until today. When we officially closed escrow on such a deal and
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09/09/2010
Economists (and other people smarter than the average politician) are starting to make noise about government spending to jumpstart the real estate market, and the economy in general. Did you see the article this weekend in the New York Times? If not, here's THE STORY. The dilemma: More governmen
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09/07/2010
California first-time home buyers laid claim to $100 million in just over 100 days, apparently exhausting the supply of money used to fund a three-year state income tax credit of up to $10,000 per applicant. The Franchise Tax Board announced this week that it officially stopped taking application
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08/17/2010
Dream Big Real Estate this week launched its state-of-the-art website, featuring the newest tools for home buyers and sellers. The site, which has been undergoing a major re-engineering, is feature-packed now but promises several additional tools in the coming weeks. "We wanted to get the main si
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08/12/2010
Brian Bean | Dream Big Real Estate | (951) 254-3254 73185 Guadalupe Ave., Palm Desert, CA Duplex near College of the Desert -- Fully Rented! 4BR/4+2BA Multi-Family, 2 units offered at $159,900 Year Built 1965 Sq Footage 1,680 Bedrooms 4 Bathrooms 4 full, 2 partial Floors 1 Parking Unspecifie
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08/07/2010
