Equity Assets Real Estate

Fair Isaac or FICO is now tracking who they suspect will default on their mortgage with their new black-box risk-identification

Equity Assets Real Estate — Fri, 27 May 2011 17:48:56 +0000

Supposedly this new statistical risk-scoring model can detect up to 67% of people planning a strategic default on their mortgage before they even make one late payment or non payment. This “black box” is proprietary information and they may be tracking you if you have opened multiple lines of credit recently. Other reasons why you may trigger their sights is how long you have been in your home and if you have any equity in your property. You may by chance have fallen under their radar and you may be receiving letters in the mail to discourage you from walking away even if that is not your intention whatsoever. If it looks like a duck and quacks like a duck then they figure that you must be a duck. But what if you are a goose?

Would you be offended if your lender suspects that you are going to default on your mortgage when you have an 800+ FICO. Maybe your lines of credit have been shrunk because you fit into the black box parameters? Inman News reports that they may be using scare tactics now to keep you from defaulting, once they have identified you as a risk. You may find the complete article at this link below:

http://lowes.inman.com/newsletter/2011/04/27/news/142036

Where Do You Go For Info if You Are Struggling to Make Your Mortgage Payments

Equity Assets Real Estate — Fri, 27 May 2011 17:47:42 +0000

If someone you know is struggling to make their mortgage payments each month, how will they know what their options are if they can no longer make the minimum mortgage payment? How will you know that the information you are hearing is accurate and true? Scam artists are everywhere in the mortgage and real estate business. Here is a helpful Website put out by Fannie Mae to help protect people and to help them navigate through their options if they are in danger of losing their home, http://knowyouroptions.com

This site is very user friendly and it has information and videos about what to do or consider if you are behind on your payments and upside down on your mortgage. You can find helpful hints about your credit score and information on short sales or deeds in lieu and other foreclosure alternatives.

California Home Sales Report for June 2010

Equity Assets Real Estate — Fri, 27 May 2011 17:46:07 +0000

The Chief Economist for the California Association of Realtors, Leslie Appleton-Young, has come out with a report for real estate sales in June, 2010. She reports that over the past 22 months, June was only one of two months that reported fewer home sales than 500,000 in California. She believes that people who would have normally purchased homes in June, bought them in May due to the federal tax credit. The average home sales price in CA during the month of June was $311,950. Here are some of the quick facts comparing June, 2009 with June, 2010:

Existing, single-family home sales decreased 4.2 percent in June to a seasonally adjusted rate of 492,800 units on an annualized basis compared with June 2009.
The statewide median price of an existing single-family home increased 13.6 percent in June to $311,950 compared with June 2009.
C.A.R.’s Unsold Inventory Index rose to 4.8 months in June compared with 4.2 months in June 2009.

Visit the following video link to get her full market update for June 2010.

http://videos.car.org/mediavault.html?menuID=1&flvID=8

Wathen-Castanos Built European Quarters/Parc Market Watch in Clovis, CA 93611

Equity Assets Real Estate — Fri, 27 May 2011 17:44:58 +0000

One of the housing communities in our local market that is drawing attention from prospective buyers is the Wathen-Castanos built homes found in the gated communities of the European Quarters and European Parc. Having been built during the last boom years, many of these homes are now distressed properties that have been foreclosed or are in the short sale process. These communities can be found between Teague and Shepherd, just East of Willow in Clovis, CA. These are communities that have security gates and green areas maintained by a HOA for $58 a month.

Wathen-Castanos homes have been leading in energy efficiency locally. Some will find that one of the negative attributes of these homes is the small lot size. Most of them are on lots that range from 3,000-4,000 sq. ft. Often times the grass in some of the backyards is no more than the width of a sidewalk, around the back or sides of the homes. Another noticeable negative feature is the close proximity of the home to the curb. However, the great location, safe feeling of a gated community, modern designs, and energy efficiency outshine the few negative features.

Homeowners within this housing community also benefit from the Clovis Old Town Trail which provides citizens with miles of paved paths to run, walk, or bike on. In searching 90 days prior to today, 7 homes have sold in these communities. Sales have been of homes ranging from 1,271-1,979 sq. ft. Prices have ranged from $101-$153 per. sq. ft., with a low of $170,000 and a high of $199,900. This variation in pricing is due to the wide range in house size and the various types of sales we have currently, foreclosures, shorts sales or traditional sales.

There are presently 10 homes in the process of being sold, whether listed as Active, Pending or Backup status in the MLS. Prices of these homes range from $114-$145 per sq. ft., with the low being $175,000 and the high being $225,000. As it seems with many housing communities in our local market, the homes still on the market in these neighborhoods may still have some room to come down in price, based upon the homes that have sold in the past 90 days.

Start Your Life With A Home In Fresno

Equity Assets Real Estate — Fri, 27 May 2011 17:41:34 +0000

Equity Assets Real Estate is the leader in servicing the greater Fresno area. Whether you are a first time home buyer, or looking to invest in a second property, Fresno is the perfect place to meet your goals. The diverse culture and rich heritage make Fresno an unbeatable backdrop for life’s adventures.

Not only will you find wonderful homes in Fresno, but you will be surrounded by world-class parks, rivers, lakes, agriculture, and more. The diverse culture in Fresno allows homeowners to experience cuisine from all walks of life. In addition to the food offerings, Fresno has a housing market to accommodate all styles and price points.

We are so confident that you will find Fresno appealing that we have personally chosen it as the place we want to represent. Contact us today for more information on housing availability, location, and pricing. We look forward to helping you begin your adventure in a new home in Fresno.