Santa Clarita Online Store, More than Half of Modified Loans Delinquent within 6 months

Start off with interesting news:

More than Half of Modified Loans Delinquent within 6 months

"After three months, nearly 36 percent of the borrowers had re-defaulted by being more than 30 days past due. After six months, the rate was nearly 53 percent, and after eight months, 58 percent," said U.S. Comptroller of the Currency John C. Dugan. >>More at http://changhomes2.blogspot.com/2008/12/more-than-half-of-modified-loans.html


Add some local news:

City of Santa Clarita starts an online store

The City of Santa Clarita just launched its first online boutique, featuring specialty Santa Clarita-branded items designed to help residents and visitors enjoy the good life in Santa Clarita. >> More at http://changhomes2.blogspot.com/2008/12/city-of-santa-clarita-has-online-store.html


Opportunity is Ripe:

Low Prices, Low Rates Mean Opportunity: 30-Year Rates at Lowest in 4 Years

Since housing prices have also fallen dramatically all over the country and rates on 30-year fixed-rate mortgages are already close to 5.5 percent, experts say it's possible, with government encouragement, that rates will fall as low as 4.5 percent. >>More at http://changhomes2.blogspot.com/2008/12/low-prices-low-rates-mean-opportunity.html


The Rest of the News

Pending Home Sales Holding Steady

>>http://changhomes2.blogspot.com/2008/12/nar-pending-home-sales-holding-steady.html

Delinquencies Increase, Foreclosure Starts Flat

>>http://changhomes2.blogspot.com/2008/12/dellinquencies-increase-foreclosure.html


California Fast Facts:

• Calif. median home price - October 08: $311,060(Source: C.A.R.)
• Calif. highest median home price by C.A.R. region October 08: Santa Barbara So. Coast $860,000 (Source: C.A.R.)
• Calif. lowest median home price by C.A.R. region October 08: High Desert $154,660 (Source: C.A.R.)
• Calif. First-time Buyer Affordability Index - Third Quarter 08: 53 percent (Source: C.A.R.)
• Mortgage rates - week ending 12/4/08 3
• 0-yr. fixed: 5.53% Fees/points: 0.7%
• 15-yr. fixed: 5.33% Fees/points: 0.7%
• 1-yr. adjustable: 5.02% Fees/points: 0.5%
• (Source: Freddie Mac)

2009 Home Forecast by RE/MAX Founder; Southland AOR Declares, "Balanced Market"

I hope everyone had a wonderful and restful Thanksgiving. Blogging continues as we go through a beta testing phase. Please pardon the dust.


Below are summaries of articles with links to more detailed articles (if hyperlinked). You are welcome and encouraged to click-through.


Countrywide to close Lancaster Call Center?

I am hearing that Countrywide/Bank of America will close its Lancaster, California, call-center facility and distribute those positions (may not be ALL those positions) in its other facilities in Simi Valley and Calabasas, among others. I am attempting to confirm.


RE/MAX Founder thinks 2009 will be like 2008

My broker went to a RE/MAX meeting in Pasadena on December 4, where RE/MAX founder, Dave Liniger, was speaking. In addition to being a consultant to Congress, he states that he believes 2009 home market will be like 2008.


Upcoming Santa Clarita Events, Now through February

Kid's Night Out! (December 12) - Parents can enjoy going to dinner, shopping, or just a night out while your children are participating in supervised fun. Children (ages 4-11) will enjoy food, a movie, crafts, and games inside the community room at Santa Clarita Park, while you have a night to yourself. All City staff are fingerprinted and CPR/First Aid certified. The cost is $18 per child. For more information, please call (661) 284-1465.


Unique Homebuying Opportunities Abound

Southland Association of REALTORS published a list of aid programs designed to help homebuyers. Click the link above.


Santa Clarita Valley October Home Sales up 78%

Driven by the continued presence of foreclosures at extremely favorable resale prices, sales of existing single-family homes during October in the Santa Clarita Valley increased 78.4 percent compared to a year ago. At the current pace of sales, the inventory of homes listed for sale represents a mere 5.3-month supply – precisely where experts believe a balance exists between buyers and sellers.

San Fernando Valley October Home Sales Soar 111%

Home sales increased 110.5 percent during October throughout the San Fernando Valley, propelled by a 30.5 percent decline in the median price.

At the current pace of sales the inventory represents a 6.0-month supply. Except for the presence of many foreclosed properties, a 6-month supply would represent a balanced market, where neither buyers nor sellers hold a negotiating edge.


Have a great week!



More articles (both self-written and sourced) can be found at:

* http://snipurl.com/waynesworld - Wayne's (Real Estate) World
* http://changhomes2.blogspot.com/ - Blog Repository