Government
The Stimulus Package and Real Estate
The Stimulus Package and Real Estate
Last week the U.S. House of Representative passed H.R. 1, the Economic Recovery Package, by a 244 to 188 vote. The bill contains a number of issues critical to the real estate industry. One of the most important components included in the bill is the extension of the 2008 [...]
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 [...]
Was Anyone Listening???
By Sandy Haney
CEO, MCAR
Below is a letter written by one of our REALTOR® members and former MCAR Director, Eugene Ferris. Eugene wrote of his concerns regarding the loose lending practices in January, 2005 and sent it to three of our local newspapers. His prediction was six months prior to when the market started [...]
Records…What Records?
The County, Cities and Water Management have failed to accurately keep track of permits. I have spoken with several escrow officers to see if they would be agreeable to record documents and permits for properties in order to have a permanent, accurate record. As Realtors, we so often encounter problems where a governmental [...]
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 [...]
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 [...]
