SELLER WANTS BUYER'S APPRAISAL - 01/27/10 12:08 PM
I'm a California Broker involved in a sale of California property being sold by East Coast sellers who inherited a family member's house in Santa Cruz County, CA.  A Santa Cruz Realtor is the listing agent.  As customary the buyer paid ~$400 for an appraisal arranged through their lender, BofA.  I'm now told that the custom on the East Coast is for the buyer to provide the seller a copy of the appraisal.  Can some experienced East Coast Brokers comment on whether or not this is standard.  Does the East Coast buyer provide a copy of the appraisal to the seller?
Thanks in advance … (0 comments)

DOUBLE DIP? - 01/27/10 10:33 AM
Some forecasters opine that a new wave of foreclosures on so-called "Alt-A" loans, will come onto the market and cause a further drop in home prices.  It's true that nearly 40% of Alt-A loans are due to re-set to higher interest rates and higher mortgage payments in the next 18 months.  Will there be a double dip? That's nearly impossible to predict and even more complicated because government intervention has distorted normal market dynamics. Tax credits for home buyers, Federal Reserve purchase of mortgage-backed securities to keep interest rates low, and foreclosure mitigation programs including loan modifications and work-outs, to name … (4 comments)

Santa Clara County Market Update January 2010 - 01/27/10 10:30 AM
The Number of Santa Clara County Single Family Residence sales in December ‘09 was average for this time of year, and 90% above the depressed levels of December ‘07. The countywide Median Sales Price of $560,000 in December ‘09 represented a 12% increase compared to December ‘08, but a 29% decline compared to December ‘07. The Median Sales Price has trended upward since February 2009.  For the past three years the Median Sales Price-the price the divides the top and bottom halves-has been skewed by a disproportionate number of either high or low-priced home sales.  In 2007 the Median Sale Price … (0 comments)

 
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Lloyd Binen Silicon Valley R since 1976;408-565-8177

Saratoga, CA

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Certified Realty Services

Address: CA DRE #572654, 19200 Shubert Drive, Saratoga, CA, 95070

Office Phone: (408) 565-8177

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