Freddie Mac Calls for Appropriate Comparables

Home Valuation Code of Contact.

IMO the lenders were using the Federal Government to make more money.
The legislation obviously distorted the market.
Now one of the big players says - hold on sure you lenders are able to make more money by controlling the appraisers but we need good comps. Not the ones your crappy out of town appraisers are providing.

Let me just say, the upside down market had been very good to me. But, I am concerned about our children's future.

My concern is that the banks and Congress are doing everything possible to make sure that we have an upside down real estate market for 5-10 years. San Diego may recover a little more quickly but I expect to be doing short sales for at least 3 more years.

appraisals real estate prices and San Diego short sales






REALTOR® Magazine-Daily News-Freddie Mac Calls for Appropriate Comparables: "Freddie Mac Calls for Appropriate Comparables
A July 10 lender bulletin from Freddie Mac says appraisers 'must be familiar with the local market,' select 'appropriate comparable sales,' and certify them as 'most similar' to the property in question."

craigslist | about > FHA

Thought I would link to this information on Craigslist which gives a summary of housing discrimination law.


craigslist | about > FHA

As I was reading this I had two thoughts

I am all in favor of equal opportunity for all.

But I think this is a disgusting intrusion by the government into a person property rights.

I found it so nice of the government to allow a person to show a sex preference when renting a shared home. What the hell is the government doing in that area of the law anyway?

Just a rant. I know some will take this the wrong way, but it was not meant to anti minorities. Just anti big brother socialist government.

Market Snapshot for Carlsbad Real Estate

Market Snapshot

Carlsbad Homes priced form 500,000 to 1 million - in 92009 zip code

You can see sales are slow but inventory is dropping

Will high end homes in rancho sante fe and la jolla drive down average home prices

REALTOR® Magazine-Daily News-Prices Slide in Wealthiest Towns

Prices Slide in Wealthiest Towns
America’s high-end neighborhoods could feel the pain as homes linger on the market and prices slide.

There are more than 60,000 homes priced above $1 million listed on Realtor.com with the inventory at levels far above the national average of 10 months.

Some observers predict that big inventories in formerly protected enclaves will drive down prices as much as average prices fell in less-pricey metros a year ago. "Any [inventory] over seven months generally means falling prices," says David Stiff, chief economist at Fiserv in Brookfield, Wis.

rancho sante fe real estate

San Diego Real Estate sales

Right now there is strong demand for san diego real estate and limited inventory of homes under 600,000. 
It will be interesting to see if these promised foreclosures drive down prices. 

REALTOR® Magazine-Daily News-Another Rash of Foreclosures Coming Soon

Another Rash of Foreclosures Coming Soon
Some economic observers are predicting another wave of foreclosures later this summer or in the fall. That’s because lenders that have held off on foreclosures as part of President Obama’s plan will now move forward aggressively to clear the backlog of troubled mortgages.

Rising foreclosures will further depress home values, says Mark Zandi of Moody's Economy.com, who calculates that 15.4 million home owners—one in five of those with first mortgages—will be underwater.

To find out if the real estate market has stabilized.

REALTOR® Magazine-Daily News-How to Capture Home Photos That Sell

REALTOR® Magazine-Daily News-How to Capture Home Photos That Sell: "How to Capture Home Photos That Sell


* Use a flash – even if you don’t need it, force it to work. It will make the room look brighter.
* Take exterior shots when the sun is shining. If the picture is still dark, lighten the exposure by pushing the exposure-compensation button (the one with the +/- on it).
* Keep the image level and straight. Shooting upward on a house will distort it. Get on a stepladder or shoot from across the street.
* Avoid glare on the lens. Use an umbrella to avoid sunspots.

for more tips click on the link above

San Diego Real Estate

Foreclosure Law as it applies to tenants - tenants get help from fed

Tenants in San Diego are getting help from the feds. (they already have protection under California law.)  





Federal Issue Information: Housing Issues Update

S. 896, the “Helping Families Save Their Homes Act of 2009” included some provisions to protect tenants from eviction as a consequence of a foreclosure affecting the property being rented. Many examples were seen of families living in rental housing throughout the United States who were evicted without any prior notice when the home where they had lived was foreclosed upon. Much of the time, the rental family had no idea the home was in delinquency or subject to foreclosure until their eviction.

I'm a Realtor®. What does this mean to my business?
Notification will have to be provided to tenants of rental housing before they can be evicted following a foreclosure.

NAR Policy:
NAR supports programs to reduce the impact of foreclosure on communities.

Legislative/Regulatory Status/Outlook:
Under the new law, which went into effect on May 20th, tenants will have to receive 90-days notice prior to being evicted, when their rental home is foreclosed upon. In addition, tenants must be allowed to stay in the property through the end of their lease, with two exceptions:

* The new owner wants to occupy the property as a personal residence, and
* There is no lease (month to month), or there is a lease but state law allows the lease to be terminated at any time upon notice.

San Diego real estate