Local Real Estate Market News and Information

 Fannie Mae has reached an agreement with Bank of America, N.A., and its affiliates — BAC Home Loans Servicing, LP, and Countrywide Home Loans, Inc. — to address outstanding repurchase requests for residential mortgage loans with an unpaid principal balance of approximately $3.9 billion delivered to Fannie Mae by affiliates of Countrywide Financial Corporation. Bank [...]

The Massachusetts Supreme Judicial Court today upheld a contentious land court ruling that puts in question the ownership of hundreds, possibly thousands, of foreclosed properties in the state. The ruling challenges the way lenders have traditionally foreclosed on properties — without having all the paperwork in place at the time a home is seized. It [...]

In 2011, how do you think the pace of defaults and foreclosures will fare in California and Orange County in particular? I think foreclosures and defaults will stay steady throughout next year. They will keep pace with the last few years. The financial institutions will bring on more product when the market can absorb the additional inventory. [...]

The large home has it all – Entertaining Living Rooms, Great Rooms, Bonus Rooms, Basement with Gym and expansive Refrigerated Wine Cellar/Room, Gourmet Kitchen. Extensive use of imported terracotta flooring, stonework, arches and limestone columns. Pool and Spa are the centerpieces of peaceful yard which also is appointed with many Courtyards, Barbeque area, outside fireplace, [...]

IN NORTH SAN CLEMENTE LIES THIS FANTASTIC OPPORTUINITY, TO OWN SUCH A AMAZING PIECE OF ART. THIS HOME OFFERS A HUGE OPEN KITCHEN WITH GRANITE COUNTERTOPS AND AN ADJACENT FAMILY ROOM WITH FRENCH DOORS TO THE BACKYARD. FIVE BEDROOMS AND 4 BATHROOMS. MAGNIFICENT OCEAN VIEWS FROM THE MASTER SUITE BALCONY. THREE FIREPLACES. DOWNSTAIRS BEDROOM IS IDEAL FOR [...]

Finding foreclosures is fairly easy in depressed markets, but it’s also simple to find foreclosures in strong real estate markets. The difference between the two markets is you will find a greater number of foreclosures in falling real estate markets. Many pre-foreclosure homes that were once offered as short sales end up as foreclosures, which [...]

Interest in buying a foreclosed home is on the rise, but so are concerns about the risk involved in the process. In a December survey, Trulia found that 49 percent of Americans were at least somewhat likely to consider buying a foreclosure, up from 45 percent in May 2010.  But the number of US adults [...]

Bank of America has agreed to pay US mortgage giants Fannie Mae and Freddie Mac about $2.6bn (£1.7bn) to settle claims it sold them bad home loans. There had been fears the bank would be forced to buy back billions of dollars of mortgage loan investments. “These actions resolve substantial legacy issues in the best [...]

Sample recent home sales in IRVINE, CA (zip code 92614): 60 WOODLEAF: $310,000 on 2010-09-27 (COOP OR CONDO) 18 WOODFERN 123: $277,100 on 2010-09-27 (COOP OR CONDO) 3741 CLAREMONT ST: $374,500 on 2010-09-23 17272 RED HILL AVE: $768,000 on 2010-09-23 (COOP OR CONDO) 34 CLEARBROOK 64: $225,000 on 2010-09-16 (COOP OR CONDO) 5 BAYPORTE: $846,000 [...]

 A few things to keep in mind when purchasing a foreclosed property: Get a full approval from a mortgage lender who has verified your income and assets. This will give you more negotiating power. Pick a zip code you are interested and do research on what homes are selling for and the recent trends with [...]