Real Estate Information

AFL Memorabilia piece of the day...

Since the footbal season is among us a friend of mine, Todd Tobias, a football historian, started posting the AFL piece of the day to his friends. So with his help I pass this great information on...

In 1963 the Chargers held their training campat a place called "The Rough Acres Ranch," in rural Boulevard, CA. The theory was to take the team away from all outside stimulation, to a place where they could only concentrate on football. ...The theory worked, as they won their only AFL championship that season. Shown here in the Rough Acres Ranch "catering facilities" are Bud Whitehead, George Blair and Sam Gruneisen.

For available memoribilia visit TMT51 on ebay

AFL Memorabilia piece of the day...

Since the footbal season is among us a friend of mine, Todd Tobias, a football historian, started posting the AFL piece of the day to his friends. So with his help I pass this great information on...

The San Diego Chargers played their first six seasons in Balboa Stadium, on the campus of San Diego High School. The stadium originally held 23,000 people, but a 10,000-seat upper deck was added when for the Chargers. There ...were no actual "seats," just spaces to sit on the long concrete rows. They were terribly uncomfortable, but everyone said that the place had great sight lines and there wasn't a bad seat in the house. The prices were right, as seen by this ticket sign used from 1964-1966. Reserved seats for $7.00. How can you beat that?

For available memoribilia visit TMT51 on ebay

AFL Memorabilia piece of the day...

Since the footbal season is among us a friend of mine, Todd Tobias, a football historian, started posting the AFL piece of the day to his friends. So with his help I pass this great information on...

In the late 1960s, the Chargers had a swift-footed running back named Dickie Post. Post, in addition to being a fantistic Barry Sanders-style back, owned a mod clothing store in the college area called Dick Post LTD. One of the items sold there was this "groovy" Chargers cowboy hat.

Now that football season is upon us, I will try and throw out interesting photos, memorabilia, etc. to keep the football jucies flowing!

For available memoribilia visit TMT51 on ebay

Great article in the Union Tribune today showing the reality of home prices in San Diego County.

Read it at http://www3.signonsandiego.com/stories/2009/aug/18/home-prices-sales-show-slight-increases/?metro&zIndex=151046

First time home buyers and investor alike are looking at one of the best time to purchase real estate in San Diego County.

Search the MLS at http://www.e-mailhomesearch.com/

The Rotsart Real Esate Group has a 100% success rate in processing short sale and helping owners out of a financial hardship. This article is a great tool to help homeowners educate themselves on how "Short Selling" their property can be beneficial.  http://www.tucsoncitizen.com/daily/local/42927.php.

If you need any questions answered contact The Rotsart Real Estate Group at (800) 297-3222. 

Great article defining the new $8,000 tax credit:

http://www3.signonsandiego.com/stories/2009/may/24/lz1h24credit19833-8k-tax-credit-shape-shifts-down-/?uniontrib

11:13 a.m. May 19, 2009

Source: MDA DataQuick, DQNews.com -

Southern California home sales rose 31.4 percent in April over year-ago levels but low-priced foreclosure homes continued to depress overall prices, MDA DataQuick reported Tuesday.

The overall median price for the six-county region was $247,000, down $3,000 from March and off 35.8 percent from April 2008's $385,000. San Bernardino felt the biggest month-to-month decline, with a smaller drop for Riverside and Orange counties.

San Diego was up $5,000 to $290,000 and Los Angeles was unchanged at $300,000.

Sales totaled 20,514, up from 19,486 in March and 15,615 in April 2008. Five of the six counties saw more activity, with the exception being Ventura County.

As reported Monday, San Diego County was up 20.1 percent year-over-year to 3,375 sales

Foreclosure sales, involving homes that previously went through foreclosure since April 2008, represented 53.6 percent of all resales in Southern California. It was the seventh consecutive month in which post-foreclosure properties represented a majority of resales.

But San Diego dipped below the 50 percent mark to 47.3 percent. The local figure had been as high as 55 percent in January.

DataQuick analysts said the price picture reflects a sluggish market in higher-cost homes, for which jumbo mortgages over $417,000 have been harder to obtain since August 2007. Before that month, jumbos typically represented nearly 40 percent of all mortgages. In April they only accounted for 10.9 percent.

By contrast, lower-cost homes financed with FHA-insured loans represented a near-record 39.1 of all home purchases last month, up from 18.4 percent a year ago.

DataQuick President John Walsh said overall market indications should be pointing to a stabilizing of prices, but the deterioriating employment outlook and a possible new round of foreclosures make such predictions problematic.

“If job cuts remain deep and foreclosures spike,” Walsh said, “then the past few months might be viewed as nothing more than a brief calm before the next foreclosure storm.”

By RealtyTrac Staff

IRVINE, Calif. – April 16, 2009 – RealtyTrac® (http://www.realtytrac.com/), the leading online marketplace for foreclosure properties, today released its U.S. Foreclosure Market Report™ for Q1 2009, which shows that foreclosure filings — default notices, auction sale notices and bank repossessions — were reported on 803,489 properties in the first quarter, a 9 percent increase from the previous quarter and an increase of nearly 24 percent from Q1 2008. One in every 159 U.S. housing units received a foreclosure filing during the quarter. Foreclosure filings were reported on 341,180 properties in March, a 17 percent increase from the previous month and a 46 percent increase from March 2008. The March and Q1 2009 totals were the highest monthly and quarterly totals since RealtyTrac began issuing its report in January 2005 despite a decrease in bank repossessions (REOs), which were down 13 percent from the fourth quarter of 2008 and 3 percent from February totals. “In the month of March we saw a record level of foreclosure activity — the number of households that received a foreclosure filing was more than 12 percent higher than the next highest month on record. Since much of this activity was in new foreclosure actions, it suggests that many lenders and servicers were holding off on executing foreclosures due to industry moratoria and legislative delays,” said James J. Saccacio, chief executive officer of RealtyTrac. “It’s also likely that the drop in REO activity can be attributed to these processing delays, rather than to any of the foreclosure prevention programs currently in place. It’s very likely that we’ll see the number of REOs increase again now that most of the moratoria have been lifted. “On a positive note, it appears that demand is up in some of the harder-hit areas, particularly on bank-owned REO properties that first time homebuyers and investors see as bargains,” Saccacio continued. “But it’s unlikely that this increased demand will be enough to offset the growing number of foreclosures in the pipeline, accelerated by rising unemployment rates.” Nevada, Arizona, California post top state foreclosure rates in first quarter Nevada continued to document the nation’s highest state foreclosure rate in the first quarter, with one in every 27 housing units receiving a foreclosure filing — more than five times the national average. Foreclosure filings were reported on 41,296 Nevada properties during the quarter, an increase of 19 percent from the previous quarter and an increase of nearly 111 percent from Q1 2008. Bank repossessions in Nevada were down 3 percent from the previous quarter, but defaults increased 27 percent and auction sale notices increased 35 percent. Arizona posted the nation’s second highest state foreclosure rate for the first quarter, with one in every 54 housing units receiving a foreclosure filing, and California posted the nation’s third highest state foreclosure rate, with one in every 58 housing units receiving a foreclosure filing. Other states with foreclosure rates ranking among the top 10 in the first quarter were Florida, Illinois, Michigan, Georgia, Idaho, Utah and Oregon. Five states account for nearly 60 percent of nation’s first quarter total California, Florida, Arizona, Nevada and Illinois accounted for nearly 60 percent of the nation’s foreclosure activity in the first quarter, with 479,516 properties receiving foreclosure filings in the five states combined. With 230,915 properties receiving foreclosure filings during the quarter, California accounted for nearly 29 percent of the nation’s total. The state’s foreclosure activity increased 35 percent from the previous quarter and 36 percent from Q1 2008, and the first-quarter total was state’s highest quarterly total since RealtyTrac began issuing its report in the first quarter of 2005. Despite a 12 percent decrease from the previous quarter, Florida’s first quarter total was still second highest in the nation. Foreclosure filings were reported on 119,220 Florida properties, a 36 percent increase from the first quarter of 2008. The state posted the nation’s fourth highest state foreclosure rate during the quarter, with one in every 73 housing units receiving a foreclosure filing. Foreclosure filings were reported on 49,119 Arizona properties in the first quarter of 2009, the third highest total among the states, and 41,296 Nevada properties received a foreclosure filing in the first quarter of 2009, the fourth highest total among the states. Illinois posted the nation’s fifth highest total, with 38,966 properties receiving a foreclosure filing during the first quarter — a 32 percent increase from the previous quarter and a 68 percent increase from the first quarter of 2008. With one in every 135 housing units receiving a foreclosure filing, the state’s foreclosure rate also ranked fifth highest among the states. Rounding out the states with the 10 highest foreclosure activity totals in Q1 2009 were Michigan, Ohio, Georgia, Texas and Virginia. Report methodology The RealtyTrac U.S. Foreclosure Market Report provides a count of the total number of properties with at least one foreclosure filing reported during the month or quarter — broken out by type of filing at the state and national level. Data is also available at the individual county level for both Q1 2009 and March 2009. Data is collected from more than 2,200 counties nationwide, and those counties account for more than 90 percent of the U.S. population. RealtyTrac’s report incorporates documents filed in all three phases of foreclosure: Default — Notice of Default (NOD) and Lis Pendens (LIS); Auction — Notice of Trustee Sale and Notice of Foreclosure Sale (NTS and NFS); and Real Estate Owned, or REO properties (that have been foreclosed on and repurchased by a bank). If more than one foreclosure document is filed against a property during the month or quarter, only the most recent filing is counted in the report. RealtyTrac InRealtyTrac (http://www.realtytrac.com/) is the leading online marketplace of foreclosure properties, with more than 1.5 million default, auction and bank-owned listings from over 2,200 U.S. counties, along with detailed property, loan and home sales data. Hosting more than 3 million unique monthly visitors, RealtyTrac provides innovative technology solutions and practical education resources to facilitate buying, selling and investing in real estate. RealtyTrac’s foreclosure data has also been used by the Federal Reserve, FBI, U.S. Senate Joint Economic Committee and Banking Committee, U.S. Treasury Department, and numerous state housing and banking departments to help evaluate foreclosure trends and address policy issues related to foreclosures.

Two steps: Second liens now covered by modification program; servicers must offer eligible borrowers principal reduction under Hope for Homeowners.

NEW YORK (CNNMoney.com) -- The Obama administration said Tuesday it is expanding its foreclosure prevention program to cover second mortgages and to direct more troubled borrowers to the Hope for Homeowners program. Announced with great fanfare in mid-February, the president's $75 billion program has gotten off to a slow start. Loan servicers only recently started taking applications and many delinquent borrowers have complained about being left in the cold because their home values have dropped or they've lost their jobs. The administration is seeking to address some of the concerns by tweaking the original modification plan, which calls for adjusting eligible borrowers' loans so monthly payments are no more than 31% of pre-tax income. Servicers covering 75% of the nation's mortgages are now participating in the program, which also allows some homeowners with little or no equity to refinance their mortgages, a senior administration official said Tuesday. Together, the plans are expected to help up to 9 million avoid foreclosure. Second mortgage roadblock During the housing frenzy, many borrowers obtained second mortgages to allow them to put little or nothing down when buying a home. Up to half of at-risk borrowers have second liens, according to the administration. These loans have complicated the modification process. For one thing, they add to troubled homeowners' debt levels. Also, mortgage investors have balked at reducing payments on first mortgages when the second loan was left intact. Under the administration's new program, the interest rate on second mortgages will be reduced to 1% on loans where payments cover interest and principal and to 2% for interest-only loans. The government will subsidize the rate reduction, with the money going to the mortgage investor. Servicers will be paid $500 for each modification and an additional $250 annually for three years if the borrower stays current. Borrowers can receive up to $250 per year for five years to pay down their first mortgage. Investors can also receive a payment in exchange for extinguishing the second lien. They would receive 3 cents on the dollar for loans more than 180 days delinquent and between 4 cents and 12 cents for less delinquent loans, depending on the borrowers' debt levels. Servicers who join the new program must modify second loans when a borrower's first mortgage is adjusted. It will likely take a month to implement, but it should not slow down the modifications of primary mortgages, the administration said. "By bringing both the first lien and second lien program together, we can reduce monthly payments for borrowers and make it much more likely that they can stay in their homes," a senior administration official said. Hope for Homeowners option Also Tuesday, the administration said it is now requiring servicers to offer troubled borrowers access to Hope for Homeowners as a modification option if they qualify. Expanding Hope for Homeowners would address one of the major holes in the original Obama foreclosure prevention plan. It helps homeowners whose homes are now worth far less than their mortgages. Servicers had balked at participating in the Hope program because it required they reduce the mortgage principal balance to 90% of a home's current value. Hope for Homeowners, which began in October, is being revamped in Congress. Servicers would have to reduce the principal to 93% of the home's value. The change would also reduce the program's high fees, which turned off many troubled borrowers. As an incentive to participate, servicers will be paid $2,500 for each refinancing, while lenders who originate the new loans will receive up to $1,000 a year for three years, as long as the loan remains current. Separately, however, another pillar of the president's plan appears to be headed for defeat this week. The Senate is not expected to pass legislation allowing bankruptcy judges to modify mortgages. The administration had sought this change to pressure servicers to modify loans before borrowers declare bankruptcy.

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