Home Equity Increasing
Today there are fewer homeowners underwater as prices are increasing and home sales are rising. This is according to a recently released report by the U.S. Department of Housing and Urban Development.
The HUD report showed home prices are continuing to make gains and the number of underwater homeowners has dropped by 42 percent since the beginning of 2012. The number of homeowners who owe more on than their home is worth dropped to 7.1 million from 12.1 million as of the second quarter of 2013. As prices increased so did the number of sales. The report did caution readers with the fact that the housing market has still not returned to normal. "As we regain stability in our housing markets, it is important to remember that we still have a long way to go in making sure that our housing finance system is strong for future generations," says Kurt Usowski, HUD deputy assistant secretary for economic affairs.
Five million homeowner moving from negative to positive equity since the beginning of the year is great news but, for most, the amount of equity is still not sufficient to sell their home and walk away with sufficient cash to purchase a new home. In the Sacramento area there remains a large number of homeowners who are underwater and struggling to make their monthly mortgage payments. I don't see any significant signs indicating lenders are reaching out to help these homeowners or making getting a mortgage any easier.
If you or someone you know is considering selling a home worth less than is owed and have questions about how, give me a call at the MagnumOne Realty office in Roseville (916-899-6571) or send an email to firstname.lastname@example.org. We would be happy to answer your questions and walk you through the process.
- FHA waives waiting period for short sales, foreclosures and more! (Tuesday, August 20, 2013)
Sacramento Realtor, Julie Jalone has been waiting for a program to help borrowers who lost their homes during the past few years. The FHA has just announced a new program designed to help those who had short sales, foreclosures and bankruptcies get back into home and Julie explains the details.
- Tax Relief Being Held Hostage in California (Wednesday, September 04, 2013)
Sacramento Realtor and short sale expert, Julie Jalone, writes about proposed law which would provide tax relief on forgiven debt in short sale and match current federal provisions being held hostage in the California State Senate. Julie, is the owner of MagnumOne Realty in Roseville.
Julie Jalone, wife and mother living in Rocklin, is an experienced professional Realtor ® serving
the Greater Sacramento area including Placer, El Dorado, Yolo and Yuba counties.
Julie may be reached online at www.jalone.com or by calling (916) 276-6883
Check out her daily web blog: Keep it Real in Sacramento
Placer County News HeadlinesRoseville Fire Departments Toys for Tots Support The Roseville Fire Department's annual toy drive to benefit the U.S. Marines' Toys for Tots program has begun and continues through December.
Suspect ID Sought in Granite Bay BurglaryPlacer County Sheriff's detectives are asking for the public's help in identifying a possible Granite Bay burglary suspect.
Rocklin Fire Truck Santa Rides AgainOnce again this year Santa Claus has requested the assistance of the Rocklin firefighters in escorting him through the local non-gated neighborhoods of Rocklin to visit children of all ages
Forgiven Debt Tax RefundsSacramento Realtor and short sale expert, Julie Jalone, explains the new IRS guidance regarding forgiven debt in California and how some tax payers may be able to amend their 2011 or 2012 tax returns if they paid tax on cancelled debt.
Orchard Days in Placer CountyMountain Mandarin Growers Association hosts Mountain Mandarin Orchard Days December 7, 8, 21 and 22 to give the public a chance to visit the orchards and appreciate all of the delicious bounty of mandarin season.
Holiday Show and Sale in RocklinThe Ridley Gallery at Sierra College Rocklin Campus kicks off its fifteenth Annual Holiday Show and Sale today at 11:00am.
Roseville Crime Report Digest (12-3-13)The Roseville Police Department's weekly crime report digest for December 2, 2013.
Sophia's Heart Rocklin at Destiny Church(Rocklin, CA) -- Destiny Church of Rocklin is proud to announce the first recital performance of its new Sophia's Heart Rocklin: School of the Arts on Dec. 8 at 6:30 p.m.