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california association of realtors: California Association of REALTORs® - Important Legislative Issues for Real Estate Professionals - 05/11/11 03:03 PM
We returned last Saturday from the California Association of REALTORs® annual legislative day in Sacramento and later with committee and board of director meetings.
The "Realtor Party of California" theme is fun and an important part of our involvement.
Our group from Orange County and the Orange County Association of Realtors was active and engaged during these meetings and conferences.
We appreciated the opportunity to meet and speak with some our legislative representatives from Orange County on Wednesday, May 4, including state Assembly members Don Wagner, Diane Harkey, Jim Silva, Alan Mansoor, Jeff Miller, and state Senators Mimi Walters, Mark Wyland and Tom Harman.
California Association of REALTORs® is a non-profit and … (0 comments)
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california association of realtors: HAFA Procedure Outline for Short Sale - 01/13/11 04:54 PM
HAFA is a government-subsidized Home Affordable Foreclosure Alternatives program for distressed homeowners to sell their homes to avoid foreclosure, even if the sales price is not enough to pay off their existing mortgage loans.
Under HAFA, a participating lender will pre-approve the terms of a short sale and give the borrower at least 4 months to market and sell the property using a licensed real estate professional.
The HAFA Government short sale program procedure is outlined by the California Association of REALTORs, and the general standardized procedures for HAFA short sales are as follows:
Step 1: Lender evaluates borrower for a loan … (2 comments)
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california association of realtors: California New Anti-Deficiency Protection for Homeowners Proposed - State Assembly Passed SB-1178 - 08/20/10 12:02 PM
California State Assembly passed SB 1178 protecting homeowners, which would protect consumers from overreaching lenders. This bill now goes to CA Governor desk for his signature.
The California State Assembly on August 19, 2010, approved SB 1178, extending anti-deficiency protection for consumers who have refinanced their original mortgage loans and now are facing foreclosure.
The CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) is the sponsor of the consumer-protection legislation.
Under existing law, if a homeowner defaults on a mortgage used to purchase a home-commonly referred to as a "purchase money mortgage"-the homeowner's liability on the mortgage is limited to the property itself. However, homeowners who refinanced the … (2 comments)
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california association of realtors: Housing Market Update for California - by California Association of REALTORs® for May 2010 - 06/29/10 03:23 PM
Leslie Appleton-Young is the chief economist at California Association of Realtors and provided this May 2010 California housing market update.
Click here to see the CAR.org video -
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Review of spring home buying season in California by the economists at California Association of REALTORs:
Housing Market at Golden State is improving Fast home sales pace at California during May 2010. Positive experience from US homebuyer tax credit program ending April 30 Median CA home sold price of $324,000 4.6 months of supply of homes listed for sale 10 plus months of supply of home at $1 million and up … (0 comments)
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california association of realtors: California Association of REALTORs® Annual Legislative Day at Sacramento - June 9, 2010 - 06/11/10 04:40 PM
The California Association of REALTORs® annual meeting with legislative day took place at Sacamento on Wednesday, June 9, 2010, and was fun and interesting.
President Steve Goddard kicked it off with introductions. Alex Creel, Senior VP for Governmental Affairs for CAR.org, our capable lobbyist, was the primary speaker for the morning event and talked about need to focus our discussion with assemblypersons and senators on certain issues.
Those of us from Orange County Association of REALTORs® got together for a nice lunch on the capitol lawn with agents from the Laguna Board of REALTORs®, Newport Beach board of REALTORs®, and the Pacific West Association of REALTORs®.
During the afternoon, those … (0 comments)
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california association of realtors: CALIFORNIA ASSOCIATION OF REALTORS® Reports April 2010 Median Price Increase - 05/25/10 06:54 PM
CALIFORNIA ASSOCIATION OF REALTORS® reports April median price increased 21 percent; home sales decreased 8.1 percent.
LOS ANGELES (May 24) - Home sales decreased 8.1 percent in April in California compared with the same period a year ago, while the median price of an existing home rose 21 percent, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) reported today.
"It's likely that the state tax credit that went into effect May 1 created an incentive for many buyers to postpone closing escrow so they could take advantage of both the state and federal tax credits that were available," said C.A.R. President Steve Goddard. "We … (2 comments)
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california association of realtors: Thanks to CALIFORNIA ASSOCIATION OF REALTORS® for Sponsoring Bill to Extend Anti-Deficiency Protections to Homeowners - 05/20/10 10:41 AM
The California Assoc. of REALTORS correctly wants to warn homeowners about possibility that their purchase money refinance need anti-deficiency protections.
The CA Senate is expected to vote on SB 1178 early next week, extending anti-deficiency protections to homeowners who have refinanced "purchase money" loans and now are facing foreclosure.
A loophole in the law has allowed California homeowners, already facing the possibility of foreclosure, to be sued by their lender for the difference between the value of the foreclosed property and the outstanding balance on the mortgage loan.
Currently, if a homeowner defaults on a mortgage used to purchase their home, the … (0 comments)
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california association of realtors: California Home Sales Continue an Upward Swing - 12/08/09 10:36 AM
Positive business news comes from California Association of REALTORS, which reported that October 2009 Home Sales Increased as compared with the same period during 2008.
C.A.R. Report highlights:
Closed escrow sales of existing, single-family detached homes in California totaled 562,400 in October at a seasonally adjusted annualized rate. Information collected from more than 90 local REALTOR associations statewide.
CA home resale activity increased 1% from the revised 557,050 sales pace recorded in October 2008. Sales in October 2009 increased 5.9% compared with the previous month. The statewide sales figure represents what the total number of homes sold during 2009 would be if sales maintained the October pace throughout … (9 comments)
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california association of realtors: Improvement Seen at September 2009 CA Homes Sales ~ California Association of Realtors - 10/29/09 11:54 AM
The California Association of Realtors has issued its September 2009 homes sales report, which has some good news.
Home sold units at CA increased 2.1 percent in September as compared with the same period a year ago, while the median price of an existing home declined 7.3 percent.
"The market's momentum continued in September, as many home buyers took advantage of the federal tax credit for first-time home buyers," said C.A.R. President James Liptak.
"The success of the federal tax credit is clear. Nearly 70 percent of first-time home buyers report that the tax credit was ‘the most important' or a ‘very important' … (0 comments)
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california association of realtors: California July 2009 Home Sales Report ~ California Association of Realtors - 08/25/09 12:21 PM
C.A.R. reported today on August 25, 2009, that California July Home Sales Increased 12 Percent, Median Home Price Declined 19.6 Percent (click here for the report).
Quick Facts:
Existing, single-family home sales increased 12 percent in July to a seasonally adjusted rate of 553,910 on an annualized basis. The statewide median price of an existing single-family home increased 3.9 percent in July to $285,480, compared with June 2009. C.A.R.'s Unsold Inventory Index fell to 3.9 months in July, compared with 6.9 months in July 2008. Home sales increased 12 percent in July in California compared with the same period a year ago, while … (4 comments)
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california association of realtors: Mortgage Insurance Protection Offered by California Association of Realtors ~ First Time Homebuyers - 08/04/09 06:15 PM
The California Association of Realtors has offered since April 2, 2009, a mortgage protection Plan (insurance program) for first time homebuyers.
CAR has purchased and provided about 400 such insurance policies for first-time homebuyers at no cost to the buyers. This can provide up to $1,500 a month in mortgage assistance for six months if the buyer lose their jobs.
CAR has said it use $1 million that its members California Association of Realtors had donated to a charitable fund earmarked for affordable housing, which was to buy the one-year mortgage payment protection policies for about 3,000 first-time homebuyers.
The CAR program has been successful, and it has now received … (0 comments)
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california association of realtors: Free Supplemental Mortgage Protection Insurance for First Time Homebuyers ~ Housing Affordability Fund at California Association of REALTORs® - 07/01/09 01:46 AM
In its welcoming move, the California Association of REALTORs® and its Housing Affordability Fund continues to offer its free Mortgage Protection Program as insurance for first time homebuyers.
The Association says this is to help provide first-time homebuyers with peace of mind when purchasing a home.
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The CALIFORNIA ASSOCIATION OF REALTORS® Housing Affordability Fund (C.A.R.H.A.F.) continues to offer the FREE supplemental insurance product for qualified first time homebuyers. Through this fund's Mortgage Protection Program (free insurance), first-time homebuyers who lose their jobs due to layoffs may be eligible to receive up to $1,500 per month (for six months) to help make their mortgage payments, and qualified co-buyers can receive $750 … (0 comments)
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california association of realtors: California Foreclosures ~ Articles and Information - 06/18/09 11:17 AM
Seeing lots of articles about California home foreclosures and real estate activity in May ...
...so we turn to Google Alerts and find some links:
California Homeowners and Renters Fall through the Cracks ~ American Chronicle, June 25, 2009
Californians Get 90 Day Foreclosure Moratorium ~ Examiner.com, June 24, 2009
Consumer Group to Pressure Lenders to Help Homeowners ~ San Diego Tribune, June 24, 2009
Despite Foreclosures, Housing Markets Bump Along ~ ForeclosureS.com, June 23, 2009
We're In a Slow, But Definite Recovery Mode ~ SacramentoBee.com, June 22, 2009
Foreclosures Grind On ~ USA Today, June 16, 2009
7 Lenders Get Immunity from CA Foreclosure Prevention Law ~ Sacramento Bee, June 20, … (8 comments)
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california association of realtors: Your Local and State Association of REALTORS® Provides Excellent Information For Buyers & Sellers - 04/17/09 10:55 AM
Reliable real estate and CUSTOMER SERVICE information is available at your local and state association of REALTORS®.
Our California Association of Realtors does a superb job of providing information for consumers and homebuyers, and so it also helps us as REALTORS® and agents.
Possible Income Tax Credits For First Time Homebuyers ~
California first time homebuyers might qualify for up to $18,000 in income tax credits for buying his or her home during 2009.
The first-time homebuyer credit up to $8,000 is under US law, and a new home income tax credit up to $10,000 is under California law.
See The Homebuyer Tax Credit Chart published by California Association of Realtors … (1 comments)
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california association of realtors: New Mortgage Protection Program Introduced by California Association of Realtors - 04/01/09 10:29 AM
The CALIFORNIA ASSOCIATION OF REALTORS has announced that on April 2, 2009, it will launch a new program designed for first-time buyers.
This valuable program will target consumers and first time buyers who are nervous about the housing market and concerned about potential job loss.
Through the C.A.R. Housing Affordability Fund Mortgage Protection Program (C.A.R.H.A.F. MPP), first-time home buyers who lose their jobs due to layoffs may be eligible to receive up to $1,500 per month for up to six months to help make their mortgage payments. A qualified co-buyer also can participate in the program, for a reduced monthly benefit of $750 per month for up to six … (4 comments)
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california association of realtors: Home Affordability On The Upswing in California - 02/21/09 10:33 AM
During these times when some people are losing homes to foreclosures, and with properties in default, and others resetting interest rates during the next 18 months, and the about thirty-five percent of our listings in short sale... it's GOOD NEWS THAT HOME AFFORDABILITY IN CALIFORNIA IS ON THE RISE.
The CALIFORNIA ASSOCIATION OF REALTORS® (trade association) announced in its CAR February 18, 2009, about entry-level housing affordability increases to 59 percent for fourth quarter of 2008. That's compared with 33 percent for the same period a year ago.
C.A.R.'s First Time Buyer Housing Affordability Index (FTB-HAI) measures the percentage of households that can afford … (2 comments)
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Harrison K. Long, business, REALTOR®, GRI, Broker
Irvine,
CA
More about me…
Explore Group, Coldwell Banker Previews, Irvine, South OC
Address: 6833 Quail Hill Parkway, Irvine, CA, 92603
Office Phone: (949) 854-7747
Cell Phone: (949) 701-2515
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