Real Estate Information

Did you hear? STAR POWER Club is relaunching!

It's official ... STAR POWER is being relaunched under new leadership! As a STAR POWER Star it's incredibly exciting to be involved in the continuation of STAR POWER into a new era of industry leadership.

Lots of changes have been made to the program, including creation of a new monthly magazine, new spotlight videos on DVD monthly, organization of historical content in the newly branded STARCHIVES, and the new STAR POWER website with highly interactive forums. To learn more, visit:    http://www.gostarpower.com/go?w=gostar&p=a486

I'm proud to be a part of this extraordinary organization helping thousands of agents across the country learn how to be more successful, both professionally and personally.

Agents interested in elevating their business should definitely look into joining STAR POWER Club. Again, the site is:  http://www.gostarpower.com/go?w=gostar&p=a486

STAR POWER is ... Success Shared™.

If you have been waiting to buy it might be time to get off the fence. California's inventory of unsold, previously owned homes shrank to a five-year low in December, in another sign that the state may be coming out of its worst housing slump in decades.

The supply of unsold single-family homes dropped to 3.8 months from 5.6 months a year ago and 16.6 months in January 2008, when inventories were at a peak, according to estimates released Friday by the California Association of Realtors. The inventory levels are now at their lowest level since 2005, resulting in frenzied sales with multiple offers in some cities. Read more…

• Some economists believe that California’s housing inventory is artificially low because many discretionary sellers—homeowners who do not have to sell their homes—are waiting on the sidelines until home prices rise.  Others believe there are more foreclosures to come, as unemployment in the state continues to rise.  However, C.A.R. predicts that foreclosures will remain flat in 2010 compared with 2009, as lenders are listing properties for sale at a more metered pace.
• California’s housing market has shown signs of stabilization since early last year.  Sales of existing, single-family homes bottomed out in August 2007, and the median home price reached its trough in February 2009. 
• In December, the median price of an existing, single-family home rose to $306,820, an 8.4 percent rise year-over-year, the second consecutive year-over-year increase, and the 10th straight month-over-month increase, according to C.A.R.’s December sales and price report.
• With affordability near-historic highs, low interest rates, and home buyer tax credits, many properties in California are receiving multiple offers and sparking bidding wars.  Home buyers who find themselves in bidding wars should work closely with their REALTOR® to ensure they are crafting realistic offers that are more likely to be accepted by the seller.

Mortgage rates in 2010 are expected to rise from 2009’s historically low levels.  Early last year, the Federal Reserve announced plans to purchase debt and mortgage-backed securities from Fannie Mae and Freddie Mac to lower interest rates for consumers and spur home buying.  As a result, rates on 30-year, fixed mortgages fell to historic lows.  However, the Fed’s asset purchase program is scheduled to expire at the end of the first quarter of 2010, and a lack of private demand for mortgage-backed securities could lead to a rise in rates.

Falling behind? There’s help available. Struggling to pay your FHA mortgage? Now you no longer have to be late with your payments to get help.

On Friday, the Federal Housing Administration announced that it will assist borrowers before they become delinquent. All you need do is prove your problems were caused by a reduction of income from a job loss, fewer paid hours, slashed wages or a decline in self-employed business earnings. Read more…

Question of the week 

What are Your Valentine’s Day plans?

Sheri Palade-No plans yet…generally the weather dictates all our plans since my husband works for PG&E. So, if there is no significant storm that day then maybe we will go to dinner and a movie.

Brian Voigt-(christy,s Husband)

What, if I tell you what good is that. I would love to do something with my wife, she is the best!!!!!!!! Hope fully we can go to a movie and some dinner or possibly a quad date!!!!!

Steve Williams- I’ll sneak off a card in advance that Sandee will receive in the mail. It’ll include a picture of me and description of how much fun I am. ( Just kidding, except for the card part) The card will surprise her because of the mailing part!....She loves sweets so that should be easy.

Sandee Williams- Sending Valentine's to family and friends.   Having fun with my sweetheart Steve.

Christy Voigt-Hoping for some quad time just my hubby and I.

Starting off the day with more good news - Cheaper homes lure buyers who could spark Sacramento-area economy, Lower Price Draw Skilled Professionals.                                                                                                                                                  

With median home prices  to 2001 levels in many parts of the region, skilled outsiders and professionals have begun trickling back to Sacramento’s  housing market. From July 2008 to July 2009, the population of the four-county capital region comprising Yolo, Sacramento, El Dorado and Placer counties grew 1.1 percent – faster than the state as a whole, according to the California Department of Finance.   Read More…

I can’t stress this enough, if you are thinking of buying you need to act fast. By now it is well documented that today’s affordable housing prices, historically low interest rates and federal home buyer tax credit have combined to create one of the most attractive first-time buyer markets in recent memory. What many Americans might not realize is that a recent expansion of the buyer tax credit has created an equally desirable opportunity for existing homeowners. Read more…

Surprise, surprise, not anymore, this is a good thing…Buying a home should be a joyful experience, but all too often, the mortgage settlement process leaves consumers confused, angry and paying more than they anticipated.

When you apply for a loan, your lender will give you a good faith estimate of closing costs. It's important to understand which costs can change when you go to settlement:

Costs that can't change

Origination fees

Points (after you've locked in an interest rate)

Adjusted origination fees after you've locked in an interest rate

Transfer taxes

Charges that can increase

up to 10% in aggregate

Required services selected by the lender

Title services, lender's title insurance and owner's title insurance, if selected by the lender

Government recording charges

No limit on increases

Required services selected by the borrower.

Title services, lender's title insurance and owner's title insurance, if selected by the borrower

Daily interest charges

Homeowner's insurance

Initial deposit for escrow

Read more…

HUD to the rescue, HUD Takes Action To Speed Resale of Foreclosed Properties to New Owners.  In an effort to stabilize home values and improve conditions in communities where foreclosure activity is high, HUD Secretary Shaun Donovan today announced a temporary policy that will expand access to FHA mortgage insurance and allow for the quick resale of foreclosed properties. The announcement is part of the Obama administration commitment to addressing foreclosure. Just yesterday, Secretary Donovan announced $2 billion in Neighborhood Stabilization Program grants to local communities and nonprofit housing developers to combat the effects of vacant and abandoned homes.  Read more…

Help is on the way ! Homeowners with FHA-insured mortgage loans who are experiencing financial hardship are now eligible for loss mitigation assistance before they fall behind on their mortgage payments. Previously, these homeowners were not eligible for such assistance until after they had missed payments.

The Helping Families Save Their Home Act of 2009 signed into law by President Obama expanded FHA’s authority to use its loss mitigation tools to assist FHA borrowers avoid foreclosure to include those facing “imminent default” as defined by the Secretary. FHA recently issued guidance to FHA-approved loan servicers on how to assist these FHA borrowers. Read More…

Some good news to share, New December statistics paint 2009 as the year when Sacramento County home prices finally ended a dramatic four-year free fall. Median sales prices for new and existing homes combined rose 0.6 percent in 2009, property researcher MDA DataQuick reported Thursday. The percentage represents a welcome change for thousands of anxious Sacramento County homeowners who saw their values drop 20 percent in 2007 and plunge another 37 percent in 2008. Read more…

More good news from  The SacBee .  Foreclosure crisis slowing some as banks rethink strategies . La Jolla researcher MDA DataQuick released new Q4 2009 foreclosure numbers this morning, show that defaults are down to their lowest levels since early last year. But the capital region saw 5,081 more foreclosures in the last three months of 2009 - raising the tally since the mortgage crisis began in early 2007 to nearly 52,000.

Statewide, more than 650,000 homeowners have surrendered keys to banks since 1/1/07. Read More…

What are 2010 new home buyers going to be looking for? Looking Ahead: Cents and Sensibility Top Priorities for Homeowners in 2010- The survey of nationwide potential new home buyers and existing home owners who are planning improvements in the next few months found top priorities to include price, energy-efficiency, organization and comfort.

“Not surprisingly, we continue to see a ‘cents and sensibility’ approach when it comes to buying or improving a home, with practicality and price being top priorities,” said Nusbaum. “Today’s homeowner is also looking for a home that fits the entire family–from a multi-tasking home office, to expanding storage space needs, to a living room that can adapt to advancements in home entertainment and technology.” Read more…

Let’s not forget the mature home buyer!    A survey of consumers and builders, conducted in 2009 by the National Association of Home Builders (NAHB) and the MetLife Mature Market Institute, has yielded a new round of data revealing the housing preferences of the 55+ consumer. Read more…

Big Things come in small packages! Homeowners surveyed by Better Homes and Gardens magazine said downsizing was becoming a bigger priority: 36% said in November 2009 that they expected their next home to be “somewhat smaller” or “much smaller” than their current home versus 32% who said that in 2008. “Not surprisingly, we see a ‘cents and sensibility’ approach when it comes to buying or improving a home, with practicality and price being the top priorities,” said Eliot Nusbaum, the magazine’s executive editor of home design.  Read More      

Check out our New Feature

We are going to be posing a question of the week to everyone on The Steve Williams Team. We invite you to post your answers as well.

From time to time we will also include a short bio featuring different members of the team. We hope you enjoy this and gain a little in-site into who we are.

We are looking forward to hearing everyone's answers and thoughts, so come on post your answer too!

Who do you want to win the Super Bowl and why?  (Saints vs. Colts)

Let us know what you think!

Here is what members of The Steve Williams Team have to say:

Don Anderson - My wife and I were both rooting for the Vikings (after we were disappointed that the Packers were out), to go all the way.  Since last week's game, Claudia is all about the Saints but I want the Colts to win.  The Saints were very impressive last week so it is going to be a great match-up.  To be the Colts seem to be more organized and more fluid in their plays.  Go Colts!

 Don Anderson, Broker Associate:  DRE# 00860761

Coldwell Banker Ponderosa Real Estate
The Steve Williams Team
(530) 872-5430  Direct/Voice Mail
(530) 518-5990  Cell Phone
(530) 872-5444  Office
(530) 876-8292  Fax
don.cb@comcast.net
www.northstatehomes.com

David Lenarcic- I want the Colts to win the Super Bowl.  I feel that we are amidst, quite possibly, the best quarterback career in history.  Peyton Manning is putting up numbers that, when said and done, will rival any other Hall of Fame quarterback’s.  If he adds another Super Bowl championship to his resume, it will be tough not to consider him in the conversation of best quarterbacks ever.  It is exciting as a football fan too be a part of this history-making

Christy Voigt - Don't really care, just an excuse to get together with friends.

Sandee Williams - That's a tough one....whoever plays the best game has my vote (does that sound political?????)  If it was the Niners, definitely them. 

But if I really had to choose, I'll vote for the Saints because they haven't been to the Super Bowl and it would be nice for New Orleans to have some good karma come their way.

Brian Voigt-The colts are going to win because Payton manning is just to good. I would like Drew Brees and the saints to win because he is an outstanding person. All in all it should be an exciting close, high scoring game

Sheri Palade- Well truthfully; I could care less who wins the Super bowl. J don’t like either.

 I’ll be rooting for the Saints as the new team on the Big stage! I expect a great high scoring contest,

Steve

Featured  Team Mate

Meet David Lenarcic

This is a very exciting time for me in both my family life and in my career.  This last August, my wife and I had our first child; a baby girl.  Juliette Rose is the love of my life and I am having a wonderful time as a new father.

At work, I am focusing on the positives of the current real estate landscape.  These last few years have been tough for many home owners.  On the flip side, these new market conditions have been great for others; in particular first time home buyers.  As a Buyer Specialist with The Steve Williams Team I have been able to assist many young families in the purchase of their first home.  Because of the lower home values, good interest rates, and buyer incentives, many people that were once priced out of the market are now able to be a part of the American dream of home ownership.

David Lenarcic -

Boy, Oh Boy, I’m ready for some good news, what about you? While economists are spewing gloom, based on what their 2010 forecasts are telling them, the American people are tired of hearing it and think improvements are ahead.

That's the positive chord struck by Federal Reserve Bank senior economist Gary Zimmerman from San Francisco, during his presentation at the Tri-County Economic Forecast Conference last week.

Whatever way the Federal Reserve collects and analyzes information pointing to the negative economy, the agency has found that the American people are a positive bunch.

"Their expectations are that things are going to get better," Zimmerman told the 450 who gathered at Chico State University for the annual event put on by the Center for Economic Development.  Read more…

Economic Week in Review: Slow but steady growth. Another week brought more mixed news about the U.S. economy. The Federal Reserve's most recent Beige Book showed continued signs of economic growth, while many businesses increased their inventories, signaling an expected pickup in sales. Consumer prices continued to rise slowly, but inflation remains in check. Meanwhile, December's retail sales were less than expected, despite a relatively good holiday shopping season. For the week, the S&P 500 Index dropped 0.8% to 1,136, while the yield of the 10-year U.S. Treasury note fell 13 basis points to 3.70%. Read more…

What’s ahead for home prices? Sales are ticking up, but don’t expect prices to follow until the middle of the year. In the second half of 2009, the housing market seemed to catch its breath after struggling to recover from the most severe downturn since the Great Depression. The first-time homebuyers tax credit and low mortgage rates lured buyers who’d been dithering and helped move the glut of foreclosures that has been dragging down home values. Read more…

Rates on 30-year mortgages drop to 5.06 pct, second straight weekly decline. The average rate on a 30-year fixed mortgage was 5.06 percent this week, down from 5.09 percent a week earlier, mortgage company Freddie Mac

Rates dropped to a record low of 4.71 percent in early December, pushed down by an aggressive government campaign to reduce consumers' borrowing costs, but then rose steadily for the rest of the month.  Read more… said.

Unemployed?  Good news! CHICO — The new Obama-appointed director of rural development for California wants to know what can jump-start job creation in Butte County. Read More…

Support for the Housing Market is on the way! Federal Housing Administration (FHA) Commissioner David Stevens today announced a set of policy changes to strengthen the FHA’s capital reserves, while enabling the agency to continue to fulfill its mission to provide access to homeownership for underserved communities. Read more…

Have you been thinking about buying but just not sure! The federal income tax credit for homebuyers has been extended and expanded to now include homeowners who wish to "move on" after 5 years of living in their current property, as well as first-time homebuyers. Read more…

Tools you can use… Home Value Estimator

http://www.coldwellbanker.com/real_estate/Home_Value_Estimator

Better yet Steve@SteveWilliamsTeam.com

Selling your home? Contact Steve for free advice on presenting your home in the best light!  Questions to ask yourself when preparing your home for sale, to ensure it looks the best it possibly can to the buyer's eyes. Click here