Where Have I Heard THAT Before?

As part of my efforts to stay on the leading edge of real estate news, in order that I can keep all of you in the Lake Oroville housing market informed, I subscribe to a number on-line real estate new organizations who regularly communicate with me through e-mail with the latest and greatest real estate info.

In an artice that just arrived in today’s communication from Inman News, I thought I was experiencing Deja Vu all over again. In fact, some of it sounded so familiar that I started to rack my brain as to where I had heard this kind of thing before. I looked high and low and still no hint. I looked inside and outside. I looked everywhere in the entire Lake Oroville real estate market area. But no luck remembering where I had heard it before.

So now my dear readers, I turn to you for help. Here, excerpted in part, (Click Here to see entire article) is what I read from the article written by Glen Roberts, Jr., entitled ” A slow-motion real estate recovery”. Maybe you  can help me remember:

Mark Dotzour, chief economist for the Texas A&M Real Estate Center, said government stimuli have delayed recovery.

“We’re not in a ‘double dip’ in my mind,” said Dotzour — referring to some economists’ talk of a second dive into downturn after some signs of an economic rebound — “we just never hit bottom in the first place.”

The market essentially “fell off a cliff,” and the government’s “lifeline” of programs it throttled at the recession, among them the homebuyer tax credit programs, “Cash for Clunkers” auto program, loan mod programs and Federal Reserve’s purchase of Treasury debt, did not have the intended benefits.

The market “would have started coming back up to a year ago or so if we hadn’t had the federal intervention in the first place.”

The federal homebuyer tax credit programs appear to have been largely ineffective, essentially “stealing” sales forward that would have occurred at a later time. “We believe pretty strongly that we paid back every bit of that stimulus,” he said, with the slumping sales that followed expiration of the tax credits.

Hmm…..now where in the world have a I heard these type ideas before?????  Wait……………..yes…………………..now I’m starting to remember………….Here is what I had read in the past. Continue reading


In speaking with a number of lenders that serve the Oroville real estate market, there seems to be an increase in the number of prospective borrowers who aren’t listening to the instructions their loan officers are giving them during the loan process which is jeopardizing the purchase of their homes.

Today’s public service message is short and sweet to homebuyer’s everywhere:



When your loan officer tells you not to buy anything using your credit card during the loan process…..Listen up!

When your loan officer tell you to be sure you have a paper trail for ANY funds you receive during the loan process….Listen up!

When your loan officer tells you that any gift funds that someone is willing to give you must not go directly into your bank accounts…Listen up!

When your loan officer tells you not to deposit those “stashed under the mattress” funds into your accounts….Listen up!

As a borrower you must understand that the loan qualification does not end when your lender pre-qualifies you for a loan.  Any changes to your financial position before your home purchase is COMPLETE will affect your ability to procure your loan. In most cases the effect is that you disqualify yourself for your loan.

Your lender will be monitoring your financial situation throughout the loan process and WILL be aware of changes to it. Be sure that you not only hear what your loan professional is telling you, but also be sure to LISTEN UP!!

If you do, you will find that the loan process is much simpler and less stressful.

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Paradise Ca Sales Almost Aren’t

A not so funny thing happened to the Paradise, CA real estate market last week. Only two sales to report from Paradise this week.

The one encouraging thing to take from the week’s meager numbers is the fact that the average Paradise home sale was over $250,000 and the average time that each of these two homes were on the market was only 24 days. From the seller’s side of the equation it is good to see higher prices homes selling quickly.  Hopefully we will have more substantial numbers to discuss next week.

Paradise, CA MLS Stats Week Ending Week Ending Week Ending Week Ending Weekly %
01/29/2010 02/05/2010 02/12/2010 02/19/2010 Change
# of Total Sales 6 6 7 2 -71.43%
# REO/Short Sales Sold (SS) 2 3 2 1 -50.00%
% Sales that are REO/SS 33.33% 50.00% 28.57% 50.00% 75.00%
Avg. List Price $154,667 $161,150 $126,442 $269,250 112.94%
Avg. Sold Price $155,083 $156,100 $113,142 $254,000 124.50%
Sold Price % of Listing Price 100.27% 96.87% 89.48% 94.34% 5.43%
Avg. Days On The Market 60 84 107 24 -77.57%
Total Sales Volume $930,948 $936,600 $791,994 $508,000 -35.86%
# of Single Family Listings 137 148 148 148 0.00%
# Foreclosed On Market 19 19 18 18 0.00%
% of Foreclosed on Market 13.87% 12.84% 12.16% 12.16% 0.00%
# Short Sales on Market 15 17 17 17 0.00%
% Short Sales on Market 10.95% 11.49% 11.49% 11.49% 0.00%
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