Fremont Real Estate and Beyond

A lot of homeowners who were foreclosed on don't realize that once all the loan(s), taxes, and fees are paid by the proceeds from the foreclosure auction, any remaining amount goes back to them. More info here-- http://www.realtor.com/news/trends/foreclosure-windfalls/

Federal Housing Finance Agency (FHFA) announced the development and implementation of Fannie Mae and Freddie Mac’s new Flex Modification program which will replace the Enterprises’ current Home Affordable Modification Program (HAMP®) which expires at the end of the year.  The program incorporates elements of a joint white paper developed by the U.S. Department of the Treasury in conjunction with the U.S. Department of Housing and Urban Development (HUD) and FHFA titled Guiding Principles for the Future of Loss Mitigation. Terms of the program included a 20 percent payment reduction for eligible borrowers. A high percentage of those who are at least 60 days delinquent would be eligible; the modification could also be an option for those who are current or less than 60 days delinquent in certain situations. More info here-- https://www.nar.realtor/articles/gse-announce-new-modification-program

MLSListings just released their November Townhome and Condo Data

MLSListings just posted their November data for the South Bay

From the SF Chronicle, Pacific Gas and Electric will now charge a one time interconnection fee of $145 and add a monthly charge to new homes that go solar.  The monthly charge will go towards subsidizing the utility bills of low-income families. More info here-- http://www.sfchronicle.com/business/article/PG-E-customers-who-go-solar-face-new-fees-10802090.php?t=b69d04e9af

Freddie Mac is piloting a new down payment program where a lender can help with a buyer's down payment in exchange for equity of the home. More details here-- http://www.inman.com/2016/12/08/new-down-payment-option-could-boost-homeownership/

BayEast posted their housing statistics for the month of November.  You can find it here-- https://bayeast.org/community-info/community-info/ Click on the city you want and then "Housing Market Information" followed by "Current Attached" or "Current Detached"

A sweeping federal lawsuit is accusing Fannie Mae, the government-sponsored enterprise (GSE), of neglecting foreclosure properties in predominantly minority neighborhoods but not in predominantly white neighborhoods.  This lawsuit may put Brokers and Real Estate Agents who listed these properties in the crosshairs of the Fair Housing Act. More info-- https://www.inman.com/2016/12/06/sweeping-racial-discrimination-lawsuit-against-fannie-mae-could-have-repercussions-for-agents-and-brokers/

Google just released their timelapse, where you can watch cities change starting from 1984 to the present day. https://earthengine.google.com/timelapse/#

In a very head scratching hire, president-elect Donald Trump tapped retired neurosurgeon Dr. Ben Carson to be head of HUD.  He has never held public office before. More info here-- http://www.npr.org/2016/12/05/503150852/trump-taps-ben-carson-for-secretary-of-housing-and-urban-development

For the average Joe, it can be frustrating to look for HOA rules and regulations for a development.  A new website is launching in Florida and Maryland in January as a tool to see all the details of any HOA.  Hopefully they will be able to launch nationally! More info-- http://nationalhoadatabase.com/ https://www.inman.com/2016/11/28/could-the-national-hoa-database-serve-up-transparency/

Gov. Jerry Brown signed off on  Senate Bill 1069, which eases the restrictions on building in-law, or "Granny" units on properties zoned for single family homes.  This will hopefully ease the housing shortage in the Bay Area. More info here-- http://www.mercurynews.com/2016/09/27/california-eases-restrictions-on-granny-units/    

Fannie Mae and Freddie Mac just announced they will back mortgages up to $424,100, an increase from $417,000. More info here-- http://www.bloomberg.com/news/articles/2016-11-23/fannie-freddie-loan-limits-increasing-for-first-time-in-a-decade

I mentioned earlier in September  about how 2 Coldwell Banker agents represented a buyer and seller in a transaction and there was a discrepancy in the square footage.  The buyer sued Coldwell Banker and the agents.  The heart of the question was, does the listing agent owe a fiduciary duty to the buyer and since Coldwell Banker is the brokerage to both the buyer and seller? The answer is YES.  There are a lot of ramifications to this decision and we will have to see how things pan out. Case Summary and decision-- http://www.courts.ca.gov/opinions/documents/S218734.PDF

09-29-2016 EXPO Forecast Final by C.A.R. Research & Economics on Scribd

BayEast posted their housing statistics for the month of October.  You can find it here-- https://bayeast.org/community-info/community-info/ Click on the city you want and then "Housing Market Information" followed by "Current Attached" or "Current Detached"

Propublica published a report about the ability of Realtors and Sellers to exclude potential buyers by race when advertising on Facebook.  This is a very serious violation of the Fair Housing Act and I hope they change it.   https://www.propublica.org/article/facebook-lets-advertisers-exclude-users-by-race

BayEast posted their housing statistics for the month of September.  You can find it here-- https://bayeast.org/community-info/community-info/ Click on the city you want and then "Housing Market Information" followed by "Current Attached" or "Current Detached"