Real Estate Trends - Palmdale, Lancaster, Quartz Hill and the Greater Antelope Valley Feb 13, 2012.

Real Estate Trends - Palmdale, Lancaster, Quartz Hill and the Greater Antelope Valley Feb 13, 2012.
National Mortgage Settlement, What this means to you.

Homeowners in need of a loan modification including first and second lien principal reduction if they qualify could see their principal cut by around $20,000.  The servicers have up to $17 billion in principal reduction and other forms of loan modification relief nationwide.  And with only these banks participating Ally/GMAC, Bank of America, Citi, JPMorgan Chase and Wells Fargo your loan must be with one of them and not owned by Fannie Mae or Freddie Mac to participate in the program.

Borrowers who are current but underwater will be able to refinance at today’s historically low interest rates.  Servicers will have to provide up to $3 billion in refinancing relief nationwide, the average payout is around $20,000 we hear.

This will take some time to implement over the next 30 to 60 days negotiators will be selecting an administrator to handle the how-to and supervising the process; we don’t want the banks to pull anymore shenanigans.

Within the next 6 to 9 months the settlement administrator, attorneys general and the mortgage servicers will work to identify homeowners eligible for the immediate cash payments, principal reductions and refinancing. Those eligible will receive letters.  The entire settlement will be happing over the next three years.

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Janet O'Brian is a Certified Short Sales Specialist in California is ready to help you with your Situation… Short Sale 

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Monthend Numbers
	Jan '12	Dec	Nov	Oct	Sep	Aug	July	June	May	Apr	Mar	Feb	Jan '11
Listed	601	599	732	797	813	679	631	646	620	561	690	443	550
Pending	581	522	572	568	585	542	468	502	518	487	504	414	392
Sold	416	476	467	557	545	413	369	392	374	384	389	299	297
% CHG Month over Month
Listed		0.3%	-22.2%	-8.9%	-2.0%	16.5%	7.1%	-2.4%	4.0%	9.5%	-23.0%	35.8%	-24.2%
Pending		10.2%	-9.6%	0.7%	-3.0%	7.4%	13.7%	-7.3%	-3.2%	6.0%	-3.5%	17.9%	5.3%
Sold		-14.4%	1.9%	-19.3%	2.2%	24.2%	10.7%	-6.2%	4.6%	-2.7%	-1.3%	23.1%	0.7%
% CHG Current Month over Same Month Last Year
Listed	8.5%	7.3%	20.9%	32.1%	21.0%	-1.9%	-7.0%	-2.0%	-0.6%	-27.6%	-6.1%	-57.3%	-25.6%
Pending	32.5%	23.0%	27.3%	32.7%	9.4%	8.3%	-1.5%	-15.3%	5.4%	-43.3%	-34.3%	-50.5%	-41.8%
Sold	28.6%	11.3%	25.5%	38.8%	10.8%	9.0%	-11.7%	-19.6%	-11.5%	14.8%	-31.6%	-21.1%	-24.2%

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Absorption Rate*
Current Month 4.2 Months
At Last Months Rate 6.9 Months

Historical High Active Listing  - 5300+ Mid 2007 - Within the last 3 years our Low Active Listing were under 700 in Nov '09

Richard & Janet O'Brian Real Estate Agents in California work with buyers of all types, from first time, to investors, please let us work for you!   Call us today.  If you are looking for an aggressive Team to find and fight for the best deal call us or visit out website http://www.homesbyjr.com/. Or Keller Williams Realty AV   

Janet O'Brian is a Certified Short Sales Specialist by the National Association of Realtors® (SFR) and is ready to help you with your situation Short sale Help.  She can Stop Foreclosures Now!

                                         (Quick Mapping Links for Core Areas)
Palmdale  Lancaster  Ana Verde  Ritter Ranch  Quartz Hill  Leona Valley  Lake Hughes  Lake Elizabeth  

*The Core Nunbers do not include outlying segments of the Antelope Valley or out-of-area properties. Lancaster, Palmdale, Quartz Hills, Leona Valley, Antelope Acres, Lake Elizabeth, Lake Hughes, Littlerock, Lake Los Angeles, Green Valley and Juniper Hills are included in the core grouping.  All figures are Single Family Residential only.

Keller Williams Realty AV Ranked #1 in the Antelope Valley 661.733.0508 to list your home.