Jeff's Blog

We've heard it before, and I've written about these report earlier and here it is again.  The Chicago Tribune is reporting another wave of foreclosures to come about again as early as this summer.  It cites: Loan defaults have surged due to the troubled economy and the unemployement rates Expirin...

The California Association of Realtors recently published results of their 2009 Survey of California Home buyers.  Key points include 68% of buyers indicated that price decreases motivated them to buy a home and 39% reported that low interest rates helped them move to a better location. Housing a...

The good news is that congress is looking at extending or expanding the First Time Home Buyer Tax Credit. The bad news is that passage of any new legislation is highly uncertain according to Robert Freeman Senior Editor of Realtor Magazine.  He further states that while the legislation has broad ...

Good news neighbors! Interest on 30-year fixed mortgages, 15-year fixed loans, five-year adjustable-rate mortgages, and one-year ARMs all fell this week, according to Freddie Mac. The average on 30-year financing slipped to 5.2 percent from 5.32 percent a week ago. The 15-year mortgage declined t...

HI Neighbors, I'm sure I'll see many of you around the streets of Lincoln.  Hope you enjoyed the 4th of July Parade!  Thanks to all who helped organize it and those crazy enough to participate!!!!  Special thanks to the Western Placer Amateur Radio Club (WPARC) who help with the communication eff...

After 12,000 applications were received California stopped accepting applications for the first time home buyer credit for new homes.  Funding was for $100 million or 10,000 applications.  12,000 applications were accepted because there were some duplications and expectations that some of the app...

Programmable Thermostats can save about $180 a year by utilizing the automatic settings built in to the device according to the Energy Star website.  For most HVAC (Heating, Ventilation and Air Conditioning) units it's easy to replace the thermostat with one that is programmable for between $50 a...

RISMEDIA is reporting that Mortgage applications have decreased 18.9%  in the US according to the Mortgage Banker's Association (MBA) for the week ending June 26th.  The biggest driver is a reduction in home refinances.  The complete article can be read here. On the flip side, Pending home sales ...

Hello Neighbors! GREAT NEWS from our friends at CNN and CNNMoney!  Thanks CNN Teams! Government driven changes to the home financing markets continue to roll out, and we couldn't be happier.  Home owners can now refinance up to 125% of their home values.  Fantastic news for owners underwater due ...

June 2009 Placer County Market Update for single family detached homes Hi Neighbors, it's time for the monthly market snapshot, Jeff's style. What's for sale? Today, July 1st sees 2,041 homes on the market - a slight decrease from June 1st's 2053. In the under $200,000 range there are 172 homes o...