Fremont Real Estate and Beyond

A great article from Marketplace about how insurance companies aren't covering areas that are prone to fires and other disasters.

An interesting article from the Wall Street Journal saying Fannie Mae may do away with paystubs and would allow lenders to use employment and income information from a database maintained by credit bureau Equifax to verify borrowers’ ability to handle a loan, rather than relying on the traditional documentation process of collecting physical copies of pay stubs and tax data. The move is expected to make the mortgage process easier for borrowers and lenders alike. More info here-- http://www.wsj.com/articles/need-a-home-mortgage-fannie-says-forget-the-pay-stubs-1445333580

The National Association of Realtors is reporting that members of the House and HUD are trying to ease the very restrictive FHA requirements for purchasing condos with FHA. Highlights of the bill--  Ease FHA’s restrictions on the purchase and sale of condominiums.  The bill includes changes to the certification process, owner/occupancy ratio, commercial space requirements, and transfer fees.  NAR has been pushing FHA on these changes for more than 3 years.   Provide the Rural Housing Service with delegated endorsement for approved lenders.  NAR has been pushing for this provision for over a year, that will streamline the use of RHS loans and speed up processing times.   Provisions to preserve and expand affordable rental housing.  These provisions will reduce burdens for the owners and managers of these Section 8 properties and provide greater opportunities for low income tenants. More details are here-- http://www.realtor.org/articles/major-developments-on-condominiums?om_ri

The California Association of Realtors just released their raw September info. You can find all of the data here-- http://www.car.org/newsstand/newsreleases/2015releases/septemberhomesales# Highlights-- - Existing, single-family home sales totaled 425,030 in September on a seasonally adjusted annualized rate, down 1.5 percent from August but up 6.9 percent from September 2014. - Statewide sales were above the 400,000 mark for the sixth straight month. - September’s statewide median home price was $482,150, down 2.3 percent from August but up 4.3 percent from September 2014.

During the Fremont City Council meeting on Tuesday, Oct 13, Council member Vinnie Bacon asked Fremont staff to research options for implementation of rent control and just-cause eviction. After hearing testimony from both supporters and those urging the Council to consider other alternatives (including Bay East staff), the City Council directed City staff to look into rent control and just-cause eviction, and other voluntary options for landlords and tenants to resolve rent increase disputes. The Council did ask staff to consult with stakeholders including REALTORS® and property mangers as part of their research. Staff will be conducting stakeholder meetings in the next few weeks.

CAR Just released their 2016 Market Forecast, take a look at what they're predicting! 2016 California Economic & Market Forecast

Open house this weekend from 1-4pm, feel free to stop by and say hi!

CAR Just released their August data map for ALL of California.  It may take a little while to load, but you can see the sales data for all counties in California.