Average Tax Assessed Reduction Request Is 40% For 2009/10
Perhaps our reader’s 25.7% drop in assessed value for 2009/10 was actually low. From the Chronicle: Owners of more than 4,000 homes and commercial buildings have appealed to the city…
Coming Up Short On Apparent Appreciation In Bernal: 3661 Folsom
Purchased for $685,000 in 2005 (10% over asking at the time), it’s a plugged-in reader that notes the buyers of the single-family Bernal house put nothing down (there’s nothing like…
Speaking Of Million Dollar Foreclosures (And “Shadow Inventory”)
Purchased for $1,212,000 with ten percent down and two variable rate loans in November of 2005, 773 Rhode Island returned to the market in March of 2007 seeking $1,395,000. It…
Fannie Mae As The Largest Lender Landlord In All The Land?
Having taken back 57,000 properties through foreclosure in the first half of 2009, “bringing its total real-estate owned inventory to 63,000 properties valued at $6 billion,” Fannie Mae is rolling…
Senate Approves First-Time (And Move-Up) Homebuyer Tax Credits
The Senate has approved an extension of the $8,000 first-time homebuyers’ tax credit for homes under $800,000 through April 30; increased the income ceiling for eligibility to $125,000 for individuals…
Medians Are Up, But Don’t Confuse That With Increasing “Prices”
SFGate recently ran a bit called “Is the bubble back?” highlighting a “creeping” median sales price from August to September in San Francisco as evidence of increasing prices and a…
One More Year! For Super Conforming Limits Assuming Obama Signs
As far as we know President Obama has yet to sign the bill, but congress has passed an extension of the $729,750 “super conforming” loan limit for high cost areas…
Whether Or Not Credits Moved The SF Market, Phase Out Hits Home
∙ A House Response To Rising Unemployment (And Lobbyists) ∙ Nelson Says Senate to Extend, Reduce Homebuyer Credit ∙ U.S. Stocks Retreat on Concern Housing Tax Credit to Phase Out
Take Two To Stimulate New-Home Purchases In California
“Last week, the California Senate passed a bill 35-1 that would provide $30 million in tax credits to about 4,000 additional new-home purchases . The bill now moves to the…
Lending Standard Changes On The Way Or In The Works
The Mark Company provides a nice overview of lending standard changes in the works or on the way for Fannie Mae and FHA in general, and a few local lenders…