Fremont Real Estate Blog

I always thought "Shadow Inventory" were homes reposed by the banks but not put on the market. However, the definition I got from an Economist at a PNC Bank seminar was different. He defined it as homes that were in the process of default (potential future supply of foreclosures). If that's that case, from what I see on ForeclosureRadar indicates that the situation is getting better. From DS News: < http://dsnews.us1.list-manage.com/track/click?u=59816bad6939d5a7dd87e45a5&i d=9d4e689a71&e=ebe71b748c > Shadow Inventory Drops but Supply to Remain High for Extended Period The industry's shadow inventory of repossessed and soon-to-be repossessed homes that aren't visible as properties for sale has contracted, according to CoreLogic. Analysis released by the company Wednesday shows that the shadow inventory of residential properties as of January 2011 fell to 1.8 million, down from 2.0 million a year earlier. For the first time, CoreLogic also examine...

Check out my newest listings. It's located in the new development in Park Lane West. You'll find this to be a better location and with the upgrades included, a better buy than one of the newer units being offered by the builder. I'm holding open house this weekend Sat/Sun from 1-4pm. Hope you can make it. Cheers, Sunil

What a useless case. How will shareholders benefit from this. It's just going to line the pockets of the lawyers. From DS news: < http://dsnews.us1.list-manage1.com/track/click?u=59816bad6939d5a7dd87e45a5& id=a6df9df5c1&e=ebe71b748c > BofA's Shareholders Sue Over Foreclosure Processing Errors The Securities and Exchange Commission (SEC) said last week that Bank of America must entertain shareholders' request to open up its foreclosure practices for an independent audit. The SEC ruled that BofA must include the option on the ballot at its annual stockholder meeting this spring. But the company's shareholders aren't waiting for a formal investigation. They filed a lawsuit this week with the New York State Supreme Court claiming they were damaged by the bank's intent to hide defects in the paperwork used to process foreclosures. < http://dsnews.us1.list-manage.com/track/click?u=59816bad6939d5a7dd87e45a5&i d=4bfecd1343&e=ebe71b748c > ...

I read and see more about Barry Bonds on TV than about the guy responsible some of loosest lending practices that caused so many poorly underwritten loans. Why are we wasting so much time on Barry Bonds - simple he's an easy target and a diversion from the real problems that the government can't solve. -sunil SUNIL SETHI REAL ESTATE Sunil Sethi / Broker, President, REALTOR, MBA, CPA (inactive) 38750 Paseo Padre Pkwy Suite B3 / Fremont, CA 94536 < http://www.sunilsethi.com/ > www.sunilsethi.com CA DRE#: 01173766

This was posted on my neighborhood watch, but I'm sure this sort of crime is happening everywhere. Hi All, Recently, a number of the Yahoo Groups on the West side have reported thefts of packages left on doorsteps by FedEx/UPS and outgoing mail (bills with checks) from mailboxes. This is not unique to our area. Apparently, residents as close as Fremont have observed cars following UPS trucks and picking up packages after delivery. (The drivers delivering to my house either don't ring the bell or ring and run before I can get there, so even if you are home, there are no guarantees). Several of the perpetrators have been caught by observant residents, but it still continues. You might consider having your packages delivered to work or other secure location. Also, for those who don't have locking mailboxes, you might want to consider the ~$80-$100 investment to protect your incoming mail. Use a mailbox or go to the Post Office to mail your bills. Stay safe. -sunil SUNI...

If you're buying using an FHA loan and the property is a condo, confirm if the condo is approved for FHA purchase here. https://entp.hud.gov/idapp/html/condo1.cfm -sunil SUNIL SETHI REAL ESTATE Sunil Sethi / Broker, President, REALTOR, MBA, CPA (inactive) 38750 Paseo Padre Pkwy Suite B3 / Fremont, CA 94536 www.sunilsethi.com < http://www.sunilsethi.com/ > CA DRE#: 01173766

What motivates someone to decide that lenders should pay a ransom fee to take back their asset? The banks lent the money with house as the securing interest in case of default. There is no doubt that the mortgagee stopped paying. So why should they now pay a hefty fee to throw out the occupants. The Government wasn't smart enough to avoid this mess, and that means they aren't smart enough to avoid the next one. If they got rid of their incentives, and insurance, people would be more responsible on taking on risk. From DS News http://www.dsnews.com/articles/servicers-asked-to-consider-21000-cash-for-ke ys-option-2011-03-25 -sunil SUNIL SETHI REAL ESTATE Sunil Sethi / Broker, President, REALTOR, MBA, CPA (inactive) 38750 Paseo Padre Pkwy Suite B3 / Fremont, CA 94536 < http://www.sunilsethi.com/ > www.sunilsethi.com CA DRE#: 01173766

Behind every great banker is wife driving him to act like a fool.... From DS News: < http://dsnews.us1.list-manage1.com/track/click?u=59816bad6939d5a7dd87e45a5& id=6f9a41fc91&e=ebe71b748c > FDIC Files Lawsuit Against Former WaMu Execs and Wives The FDIC filed a lawsuit last week against three former Washington Mutual (WaMu) executives and two of their wives, alleging that they ran the bank into the ground in order to fatten their own wallets. The lawsuit says former WaMu CEO Kerry Killinger, former COO Stephen Rotella, and home loans president David Schneider focused on short-term gains to increase their own compensation, while encouraging risky mortgage lending when they knew the housing market was about to collapse. < http://dsnews.us1.list-manage.com/track/click?u=59816bad6939d5a7dd87e45a5&i d=cfe177d580&e=ebe71b748c > > Read More -sunil SUNIL SETHI REAL ESTATE Sunil Sethi / Broker, President, REALTOR, MBA, CPA (inactive) 38750 Paseo Padre Pkwy Suit...

It's cost you another .25% on any applications with case numbers assigned on or after 4/18/11. It will translate to about $20 / month for every $100,000 financed. FHA Annual Mortgage Insurance Premium (MIP) Mortgage Term Greater Than 15 Years: Case Numbers Assigned on or after October 4, 2010 Case Numbers Assigned on or after April 18, 2011 Loan to Value (LTV) Ratio Old Annual Premium New Annual Premium < 95.00 0.85% 1.10% >95.00 0.90% 1.15% Mortgage Term Less Than or equal to 15 Years: Case Numbers Assigned on or after October 4, 2010 Case Numbers Assigned on or after April 18, 2011 Loan to Value (LTV) Ratio Old Annual Premium New Annual Premium < 90.00 0 .25% >90.00 .25% .50%

Got this news forwarded to me by First Tuesday. § < http://firsttuesdayjournal.com/january-2011-sees-new-record-number-of-cash- buyers/?utm_source=Mar21&utm_medium=Email&utm_content=Weekly&utm_campaign=We ekly%2BNews%2BAlert > January 2011 sees new record number of cash buyers Cash buyers made up 31% of California homebuyers in... -sunil SUNIL SETHI REAL ESTATE Sunil Sethi / Broker, President, REALTOR, MBA, CPA (inactive) 38750 Paseo Padre Pkwy Suite B3 / Fremont, CA 94536 < http://www.sunilsethi.com/ > www.sunilsethi.com CA DRE#: 01173766

I was against the bailouts to the big banks because the govt. didn't get enough concessions from the banks that received it. They should have broken up the banks to smaller banks, that in the future would not be too big to fail. Fortunately for now the govt. got back most of their money, but it'll be a long time, if ever before they get back the money lent to Fannie, Freddie and AIG. From DS News: < http://dsnews.us1.list-manage.com/track/click?u=59816bad6939d5a7dd87e45a5&i d=b10e9f6684&e=ebe71b748c > Bank Bailouts Close to Breaking Even, GSEs' Projected Price Tag Shrinks There were many who opposed the hefty bank bailouts after the financial crisis set in, and they still have their ethical argument against the government's decision, but the fiscal argument is growing faint. Treasury announced this week that over 99 percent of the funds disbursed to banks through the Troubled Asset Relief Program (TARP) have now been recovered. Even the largest bailout o...

From DS News < http://dsnews.us1.list-manage.com/track/click?u=59816bad6939d5a7dd87e45a5&i d=0967210ebe&e=ebe71b748c > Probe into Robo-Signing Scandal Finds "No Wrongful Foreclosures" After the robo-signing scandal that rocked the mortgage servicing world late last year, servicers maintained that even if they had not followed proper procedure when foreclosing on homes, mortgages on all of the foreclosed properties were indeed seriously delinquent. The outrage sparked by the controversy showed that many people simply didn't believe that was the case. But results from the months-long probe into foreclosure documents by the Federal Reserve and other regulators revealed servicers were telling the truth. < http://dsnews.us1.list-manage.com/track/click?u=59816bad6939d5a7dd87e45a5&i d=b690e41879&e=ebe71b748c > > Read More -sunil SUNIL SETHI REAL ESTATE Sunil Sethi / Broker, President, REALTOR, MBA, CPA (inactive) 38750 Paseo Padre Pkwy Suite B3 ...

Deadline to vote is March 21, 2011. Here's the link: http://bestfremont.com/ballot----2011.php -sunil SUNIL SETHI REAL ESTATE Sunil Sethi / Broker, President, REALTOR, MBA, CPA (inactive) 38750 Paseo Padre Pkwy Suite B3 / Fremont, CA 94536 < http://www.sunilsethi.com/ > www.sunilsethi.com CA DRE#: 01173766

Read more here From First Tuesday: § < http://firsttuesdayjournal.com/no-taxes-owed-on-funds-from-government-progr ams/?utm_source=Mar14&utm_medium=Email&utm_content=Weekly&utm_campaign=Weekl y%2BNews%2BAlert > No taxes owed on funds from government programs The Internal Revenue Service (IRS) has clarified that homeowners who receive financial assistance from... -sunil SUNIL SETHI REAL ESTATE Sunil Sethi / Broker, President, REALTOR, MBA, CPA (inactive) 38750 Paseo Padre Pkwy Suite B3 / Fremont, CA 94536 < http://www.sunilsethi.com/ > www.sunilsethi.com CA DRE#: 01173766

From DS News < http://dsnews.us1.list-manage.com/track/click?u=59816bad6939d5a7dd87e45a5&i d=9253dfe8a9&e=ebe71b748c > Committee Advances Bills to End Two More Foreclosure Aid Programs The House Financial Services Committee voted Wednesday to send two bills to the full House that would terminate the Home Affordable Modification Program (HAMP) and HUD's Neighborhood Stabilization Program. The committee says the bills would prevent $30 billion in taxpayer funds from being spent on "ineffective" programs. Already, the House has cleared the way to begin deliberations this week on the two bills advanced by the committee last Thursday to end FHA's Short Refi Program and the Emergency Mortgage Relief Program. < http://dsnews.us1.list-manage.com/track/click?u=59816bad6939d5a7dd87e45a5&i d=2ed6f51ce0&e=ebe71b748c > > Read More -sunil SUNIL SETHI REAL ESTATE Sunil Sethi / Broker, President, REALTOR, MBA, CPA (inactive) 38750 Paseo Padre Pkwy Sui...

From DS News < http://dsnews.us1.list-manage.com/track/click?u=59816bad6939d5a7dd87e45a5&i d=b5530e92bd&e=ebe71b748c > Foreclosure Activity Sinks to Three-Year Low Foreclosure filings nationwide dropped 14 percent last month to their lowest level since February of 2008, according to data just released by RealtyTrac. One in every 577 U.S. homes received a filing during the second month of 2011, as default notices, scheduled auctions, and new REOs all hit their lowest readings in more than a year and a half. -sunil SUNIL SETHI REAL ESTATE Sunil Sethi / Broker, President, REALTOR, MBA, CPA (inactive) 38750 Paseo Padre Pkwy Suite B3 / Fremont, CA 94536 < http://www.sunilsethi.com/ > www.sunilsethi.com CA DRE#: 01173766

From DS News < http://dsnews.us1.list-manage2.com/track/click?u=59816bad6939d5a7dd87e45a5& id=aadee102d7&e=ebe71b748c > Research Firm Says U.S. Housing Has Never Been This Undervalued The continuing depreciation of residential property values at the end of last year has made housing look more undervalued relative to income than ever before, according to analysts at the research firm Capital Economics. Based on industry home price data, the company says in the fourth quarter, housing was 15-21 percent undervalued as measured against individuals' disposable income. That gap has widened from just three months earlier, and the analysts say more forced sales of foreclosed properties will push prices even lower. < http://dsnews.us1.list-manage2.com/track/click?u=59816bad6939d5a7dd87e45a5& id=97c8bec972&e=ebe71b748c > > Read More -sunil SUNIL SETHI REAL ESTATE Sunil Sethi / Broker, President, REALTOR, MBA, CPA (inactive) 38750 Paseo Padre Pkwy Suite B3 /...

Let a failing program fail. It's a waste of taxpayer's dollars. From DS News < http://dsnews.us1.list-manage.com/track/click?u=59816bad6939d5a7dd87e45a5&i d=c0174d5fbf&e=ebe71b748c > Officials Tout HAMP Positives, with Nearly 540K in Permanent Mods Treasury released its new numbers for the Home Affordable Modification Program (HAMP) Wednesday, just hours before a House subcommittee convened a hearing to terminate the government's flagship foreclosure prevention program and three other federal housing programs. As of the end of January, active permanent HAMP mods totaled 539,493, but critics say the numbers aren't high enough and the House subcommittee's looming "kill-bill" hearing was a sensitive subject for officials. < http://dsnews.us1.list-manage.com/track/click?u=59816bad6939d5a7dd87e45a5&i d=284476588d&e=ebe71b748c > > Read More -sunil SUNIL SETHI REAL ESTATE Sunil Sethi / Broker, President, REALTOR, MBA, CPA (inac...