Author Archive
Real Estate Update
Mortgage rates continue to dive with the average 30 year fixed-rate mortgage at 5.14 percent last week, a new record low. Last year this time, the rate hovered at 6.17 percent for a comparable loan. The result: an inundation of mortgage applications, the highest in five years.
Fannie Mae mortgage holders no longer have to [...]
The Foreclosure Timeline
Starting September 8, 2008, California has a special foreclosure timeline for loans originated between 2003 and 2007, which are secured by owner-occupied residences. Loans involved in short sales are likely to be owner-occupied loans from the years 2003 to 2007, which was the heyday for sub-prime lending. The special foreclosure timeline does not apply [...]
Conforming Loan Limit Adjustment
Before this year, one conforming loan limit applied to the entire country. The amount was $417,000 for a single family unit (since 2006). When Congress allowed for the increase in February of this year, it was done so based on 125% of an areas median home price. The floor was set to $417,000 and the [...]
Voters Inspired
I am sure many of you have heard of the campaign to “Get Out The Vote” or GOTV – it is a reference to each political party’s attempts to energize their voting base through various activities. Republican or Democrat, no doubt there was a GOTV effort in your city or town.
GOTV efforts produced results [...]
Taxation vs. the Economy
This week, both proponents and opponents anxiously awaited the results of Measure W, Salinas Valley Memorial Hospital’s $400 million bond effort. Much to the hospital’s dismay, the effort failed. The real news story here however, is not that the measure failed, it is that its’ failure was not unique. That same night, three hours [...]
Welcome to the NEW MCAR Blog & Forum!
Welcome to the new MCAR Blog & Forum! The goal of this new informational site will be to engage the real estate industry and public on the ongoing challenges and successes of this dynamic industry. We encourage you to take the time to register and comment on the various articles and editorials that will be [...]
The Incentivised Approach
California is changing. Californian’s typically take the role nationally of being the facilitators of change. Whether its race, religion, sexual orientation, politics or the environment, California typically leads the way – for better or for worse. Unfortunately, as we continue to evolve, governments have begun adopting onerous policies or mandates in an effort to [...]
“Green” is the new “Black”
Recently, it seems like every product and company out there is jumping on the “green” bandwagon. With all of the feel-good promotional ads and new green products out there, it can be hard to differentiate between what may be “green plated” and what is truly a sustainable, environmentally – friendly product. Marketers are smart and [...]
