San Diego home sales price change for December 2009 vs December 2008. The data is for the median prices as published by the San Diego Union Tribune. The selection of San Diego neighborhoods and production of the graph was by www.websitetrafficbuilders.com.
San Diego California home prices
WHO CAN CLAIM THE CREDIT
First time home buyers who purchase homes between November 7, 2009 and April 30, 2010 are eligible for the credit. To qualify as a “first-time home buyer,” the purchased or his/her spouse may not have owned a resident during the three years prior to the purchase.
For current homeowners purchasing a home during the same time frame, they are also eligible for a tax credit, so long as the home being sold or vacated was their principal residence for five consecutive years within the last either. To elaborate, it must be the same home; it is not enough that they have been homeowners for five consecutive years; they must have been in the same home for five consecutive years.
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Freddie Mac
Freddie Mac and 13 national and local non-profit organizations recently announced the launch of Freddie Mac Borrower Help Centers. The centers are designed to encourage delinquent borrowers to pursue mortgage workouts. At the centers, Freddie Mac borrowers will receive free, confidential one-on-one mortgage counseling. The company also is launching a separate Borrower Help Network which will offer similar counseling services over the phone to targeted Freddie Mac borrowers.
A Second wave of adjustable home loans may push the real estate lower the middle of 2010 through the end of 2011.
Los Angeles attorneys
housing market
*This was submitted by Tod R. one of our subscribers:
You’re going to see how the government’s moratoriums and loss mitigation programs have affected foreclosures and shadow inventory.
Shadow inventory is made up of all the properties that are in foreclosure or headed toward foreclosure that haven t hit the market yet. There are 7 million homes in this shadow inventory category. What the government isn’t telling you is that their moratoriums and loss mitigation programs created a huge surge of foreclosures that are about to pop.
Their effort to decrease foreclosures has backfired.
home equity recovery
No doubt, San Diego is seeing a few green shoots in the housing market. This is especially evident in the low end of the San Diego real estate market. However, I don”t advise joining the overly optimistic crowd who are expecting four years of home value erosion to be quickly recaptured.
In a report from HSH associates, a Pompton Plains, N.J., financial publishing house, they stated:
“According to the Standard & Poor’s Case-Schiller Home Price Index, the popular measurement that tracks changes in the value of residential real estate in 20 metropolitan regions, prices have fallen 32.6 percent, peak to trough, between 2006 and the third quarter of 2009.
“Then from July 2010 through August 2011, a period of 14 months, prices are projected to increase at a rate of about 2.5 percent a year. And from then on out, the company is figuring on a yearly gain of 3 percent.” read more…
