Category Archives: Downsizing

Real Estate News January 2017

Logo
Real Estate News January 2017
Shadow Inventory: More Houses Will Soon Be Available for Sale
By Alexis Craig, RISMedia
ruler
Image 1All signs point to an improved housing market—home values are up by about 30 percent since 2012, they’re selling faster, and overall demand is high. But this recovery has led to a dramatic decrease in the overall housing inventory.

Fortunately, there might be some relief from the shortage in sight. The inventory that has been hiding in the shadows for years is finally coming into the light.

Why Is This Inventory Up for Sale?
With the improved market, it would be natural to think the impact of the housing crisis is over, but there are still some old foreclosures in the pipeline that are ready to pour over the dam of legislation and legal delays that have been holding them back.

Banks and lenders are starting to make the final push to flush out homes in the foreclosure pipeline, resulting in a higher surge in repossession and REO listings. The backlog of foreclosed homes that was created by lengthy judicial reviews and long foreclosure timelines are entering the market in states like New York, Florida, New Jersey, Arkansas and Hawaii

The possibility of new foreclosures in 2017 is also impacting the housing inventory estimates. In 2016 and beyond, many homeowners may find it difficult to make their mortgage payments as “resets” are rolled out. For example, the government’s Home Affordable Modification Program (HAMP) provided temporary relief to borrowers during the housing crisis, but that relief ended after five years. These payment resets will increase the loan payment for nearly 900,000 homeowners—some of whom will find it difficult to keep up with their mortgage in this sluggish economy.

HAMP isn’t the only program. It’s estimated that about two million modifications will face interest rate resets in the coming years, and a high percentage of those homes are in depressed markets with little to no equity in their homes.

What’s the Impact?
A backlog of foreclosures are finally available for sale, but there is likely to be a second wave of foreclosed homes since the foreclosure problem wasn’t solved, but delayed. You can expect REO listings and foreclosures to increase in the next coming years. How this impacts the real estate market largely depends on how fast these homes enter the market.

Must-Have Home Features? Think Long-Term
By Maria Patterson, RISMedia
ruler
Image 2When you’re considering purchasing a new home or adding a new feature to your existing home, it’s important to consider the long-term impacts of your choices.

According to a recent report by Kiplinger, there are seven features that will help sell a home faster: a laundry room; exterior lighting; energy efficient appliances and windows; a patio; hardwood floors; garage storage space; and an eat-in kitchen.

Conversely, some of the most unwanted features in a home, according to a National Association of Home Builders study, include a pet-washing station, an elevator and a wine cellar.

QUESTIONS? VISIT MY WEBSITE AT www.FindaHomeinElkGrove.com

Facebook Pinterest Email Twitter Linkedin

424 Rio Del Oro Lane, 1 bedroom condo in Sacramento Just Listed for Sale!

424 Rio Del Oro Lane, Sacrmanento, CA

OPEN HOUSE
November 07, Saturday 1:00 PM – 4:00 PM

$ Click for current price
1 BEDROOMS | 1 (1 full ) BATHROOMS | 1051 SQUARE FEET

Property Description:  Open floor plan nestled in secluded condo complex close to all amenities! Updated with laminate flooring, granite counters, stainless steel appliances, contemporary lighting, and new paint.  With the vaulted ceiling in the family room, and kitchen open to the family and dining room, this space has a great open feel!  New windows and screens, paint, new back fence, and the HVAC was replaced in 2014.  There is a private patio off the bedroom, and a small yard off the family room.  Move in ready!

To see 424 Rio Del Oro Lane Sacramento 95825 or other houses in Sacramento, CA call The Mode and Durham Team at (916) 405-5765.

If you would like to find out how much your Sacramento home is worth, check our home value site, or call us at (916) 405-5737.

The Mode and Durham Team have been selling real estate in the Sacramento/Elk Grove area for over 25 years and are here to assist with your home purchase or sale!

Houses for sale in Sacramento, CA

Searches We Offer

·          Arden Area

·          Antelope

·          West Sacramento

·          Sloughhouse  95683 

·          Churchill Downs 95829

·          Vintage Park  95828

·          Sacramento  95823

·          Greenhaven/Pocket Area

 

To find the value of your Sacramento/Elk Grove home make sure to get your Sacramento home value via the internet!

Presented By:

The Mode & Durham Team

Keller Williams Realty
916-405-5765
Licensed In: CA
License #: 00935148

  • Link on Facebook
  • Link on Twiiter
  • Connect on YouTube
  • Connect on Google+
  • Connect on LinkedIn

Schedule a Showing/Request Info


Keller Williams Realty works with sellers, buyers, developers and investors
all throughout�Sacramento, Elk Grove and all of California. Each Office is Independently Owned and Operated. 2007 Keller Williams Realty.
Equal Housing Opportunity.
Facebook Pinterest Email Twitter Linkedin