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Sergey Fednov's Blog

By SERGEY FEDNOV *** 424-777-9377 | Agent in Beverly Hills, CA
  • Better times for home-buyers will take a few years, experts say

    Posted Under: Home Buying in Encino, Home Selling in Encino, Financing in Encino  |  June 5, 2013 2:20 PM  |  572 views  |  No comments
    Would-be home buyers who are frustrated by rising home prices and low inventory may have to wait a few years for relief, real estate experts told a conference on Wednesday.
    Institutional investors, who have been driving the market with their all-cash purchases and buying houses for rental income, need to be in and out in two to three years, Bill Rayburn, chair of mortgage technology company FNC, told a gathering of the National Assn. of Real Estate Editors. 
    "Otherwise they can't make their numbers to get their 20 percent  upside," he said during a panel talk titled "Home Price Progression: What's Next?"

    For housing to normalize, individuals will need to come back to the marketplace, he added, and that will be driven by employment.
    Among the signs that investors are buying up swaths of homes in a specific area are the lack of bank-owned properties coming on the market despite high foreclosure rates, said Tom O'Grady of Pro Teck Valuation, a residential real estate valuation provider. This has been happening in parts of the nation where rental markets are strong and values suffered in the downturn, such as Phoenix.
    "It became cheaper to buy a home than to build it," O'Grady said. In such markets, housing inventory has dropped from 24 months to two months. "It is a short-term phenomenon," he said. "At some point these deals are going to evaporate."
    Consumer understanding has been a step behind what's happening in the housing market, added Michael Byrd, president of the National Assn. of Exclusive Buyers Agents.
    "When the prices started going down, sellers were the last ones that got the memo," Byrd said. Today's buyers may have to be willing to look in different locations, while prices continue to appreciate.
    Byrd, who is based in San Luis Obispo, voiced optimism about the direction of housing. "I don't think we are going to see this thing pop," he said.


    __________________

    Help with Any Real Estate Transaction - Buy or Sell 

    Call me 424-777-9377 -  FREE CONSULTATION! 



    Should you have any questions - please feel free to call me Toll Free: 1-855-TRUST-55 (1-855-878-7855)  ext. 777.

    Sergey Fednov - Trust Sale










    Sergey Fednov

    President - Realtor®
    - Trust Sale Realty -

    Residential & Commercial Real Estate
    _______________________________
    Toll Free: 1-855-TRUST-55
    Toll Free: 1-855-878-7855
    Phone: 424-777-9377
    Fax: 310-356-4925
    www.TrustSale.com 
    Lic# 01896869
    TrustSale.com

  • Home Prices Rose For Ninth Straight Month

    Posted Under: Home Buying in Encino, Home Selling in Encino, Celebrity Homes in Encino  |  January 11, 2013 1:06 AM  |  561 views  |  No comments

    U.S. single-family home prices rose in October for nine months in a row, reinforcing the view the domestic real estate market is improving and should bolster the economy in 2013, a closely watched survey showed on Wednesday.

    The S&P/Case Shiller composite index of 20 metropolitan areas gained 0.7 percent in October on a seasonally adjusted basis, stronger than the 0.5 percent rise forecast by economists polled by Reuters.

    "Looking over this report, and considering other data on housing starts and sales, it is clear that the housing recovery is gathering strength," David Blitzer, chairman of the index committee at Standard & Poor's, said in a statement.

    While record low mortgage rates and modest job growth should keep the housing recovery on track, analysts cautioned home prices face downward pressure from a likely pickup in the sales of foreclosed and distressed properties and reduced buying investors and speculators.

    Prices in the 20 cities rose 4.3 percent year over year, beating expectations for a rise of 4.0 percent.

    Las Vegas posted the biggest monthly rise on a seasonally adjusted basis at 2.4 percent, followed by a 1.7 percent increase in San Diego, the latest Case-Shiller data showed.

    "Higher year-over-year price gains plus strong performances in the Southwest and California, regions that suffered during the housing bust, confirm that housing is now contributing to the economy," Blitzer said.

    Housing contributed 10 percent to the overall U.S. economic growth in the third quarter, while the sector represented less than 3 percent of gross domestic product, he said.

    Last week, the government said U.S. GDP expanded at a stronger-than-expected 3.1 percent annualized pace in the third quarter. Excluding seasonal factors, however, home prices in 12 of the 20 cities fell in October from September as home values tend to decline in fall and winter, Blitzer said.

    Chicago experienced the largest non-seasonally adjusted decline at 1.5 percent, followed by a 1.4 percent fall in Boston. 


    ____________________

    Help with Any Real Estate Transaction - Buy or Sell 

    Call me 424-777-9377 -  FREE CONSULTATION! 



    Should you have any questions - please feel free to call me Toll Free: 1-855-TRUST-55 (1-855-878-7855)  ext. 777.

    Sergey Fednov - Trust Sale










    Sergey Fednov

    President - Realtor®
    - Trust Sale Realty -

    Residential & Commercial Real Estate
    _______________________________
    Toll Free: 1-855-TRUST-55
    Toll Free: 1-855-878-7855
    Phone: 424-777-9377
    Fax: 310-356-4925
    www.TrustSale.com 
    Lic# 01896869
    TrustSale.com

  • Foreclosure cancellations surge in Golden Stat

    Posted Under: Market Conditions in Encino, Home Buying in Encino, Home Selling in Encino  |  November 16, 2012 1:52 PM  |  433 views  |  No comments


    The number of foreclosures canceled by banks surged 62% across California last month, the same month major mortgage servicers were required to comply with new rules outlined by this year’s National Mortgage Settlement.

    Banks in the Golden State canceled 15,539 scheduled auctions last month, according to a report by website ForeclosureRadar.com. That was a 36.7% drop from the same month last year.

    Sean O'Toole, founder of ForeclosureRadar, wrote in the October report that the increase was most likely due to the effective banning of dual tracking in the state. Dual tracking refers to the practice by banks of pushing a borrower through the foreclosure process while at the same time negotiating a loan modification.

    “This is another example of where changes in foreclosure trends are driven by government intervention, and not necessarily economic recovery. While the impacts are still unclear, the elimination of dual tracking may avoid some unnecessary foreclosures, but will lengthen the foreclosure process and delay ultimate recovery. Expect further impacts to foreclosure trends in the months ahead.”

    There has not been a comparable spike in California foreclosure cancellations since December 2011, when banks were under heavy scrutiny by state and federal regulators for improperly foreclosing on troubled borrowers. That scrutiny resulted in the big mortgage settlement earlier this year — of which California was the biggest beneficiary.

    The settlement, and a series of California laws backed by State Atty. Gen. Kamala D. Harris, resulted in effectively banning dual tracking. O’Toole said banks are probably canceling foreclosure sales so that they will not be in violation of any laws.

    Before the ban on dual tracking, a bank would often give a homeowner a trial loan modification and continue to postpone the foreclosure auction. By keeping the trustee sale in place, but postponing it, the bank could foreclose immediately if a trial modification did not work out.

    But consumer activists railed against this practice, saying that it confused homeowners, strung them along and in some instances resulted in unnecessary foreclosures. Consumer activists had tried to pass legislation banning the practice in California, but the measures had failed until Harris put her weight behind them.



    ____________________

    Help with Any Real Estate Transaction - Buy or Sell 

    Call me 424-777-9377 -  FREE CONSULTATION! 



    Should you have any questions - please feel free to call me Toll Free: 1-855-TRUST-55 (1-855-878-7855)  ext. 777.

    Sergey Fednov - Trust Sale










    Sergey Fednov

    President - Realtor®
    - Trust Sale Realty -

    Residential & Commercial Real Estate
    _______________________________
    Toll Free: 1-855-TRUST-55
    Toll Free: 1-855-878-7855
    Phone: 424-777-9377
    Fax: 310-356-4925
    www.TrustSale.com 
    Lic# 01896869
    TrustSale.com

  • Joe and Tina Simpson’s Encino Home for Sale

    Posted Under: Market Conditions in Encino, Home Buying in Encino, Home Selling in Encino  |  November 16, 2012 1:30 PM  |  431 views  |  No comments


    Joe and Tina Simpson’s home was listed for sale at the beginning of October. By mid-October, they announced their divorce. By late October, the Encino, CA home had already received a price cut of $400,000.

    The home, located at 3830 Hayvenhurst Dr, Encino CA 91436, is now listed for $3.995 million. Perhaps all the tabloid fodder surrounding the couple’s divorce is driving their desire for a quick sale.

    Parents of singers Jessica and Ashlee Simpson, Joe and Tina bought the home in 2001 for $2.1 million, according to property records. The two are originally from Texas, but as their daughters’ fame grew, they took on managerial roles and moved to Hollywood.

    Their Encino home is described as “storybook country English,” complete with a copper turret entry and stone exterior. The 1.5-acre grounds include a pool and spa with grotto waterfall, putting green, fireplace and fire pit, and sports court — not to mention a children’s play structure for the Simpsons’ two grandchildren.

    Inside, the home includes formal living spaces with vaulted ceilings and luxury detailing. A spiral staircase leads to 6 bedrooms, three of which are suites. The house also includes a home theater, office and gourmet kitchen with Viking appliances.



    ____________________

    Help with Any Real Estate Transaction - Buy or Sell 

    Call me 424-777-9377 -  FREE CONSULTATION! 



    Should you have any questions - please feel free to call me Toll Free: 1-855-TRUST-55 (1-855-878-7855)  ext. 777.

    Sergey Fednov - Trust Sale










    Sergey Fednov

    President - Realtor®
    - Trust Sale Realty -

    Residential & Commercial Real Estate
    _______________________________
    Toll Free: 1-855-TRUST-55
    Toll Free: 1-855-878-7855
    Phone: 424-777-9377
    Fax: 310-356-4925
    www.TrustSale.com 
    Lic# 01896869
    TrustSale.com

  • FHFA House Price Index rises in July

    Posted Under: Market Conditions in Encino, Home Buying in Encino, Home Selling in Encino  |  September 26, 2012 11:06 PM  |  435 views  |  No comments

    U.S. house prices rose 0.2 percent on a seasonally adjusted basis in July compared with June, according to the FHFA’s monthly House Price Index. The previously reported 0.7 percent increase in June was revised downward to a 0.6 percent increase. For the 12 months ending in July, U.S. prices rose 3.7 percent. The U.S. index is 16.4 percent below its April 2007 peak and is roughly the same as the June 2004 index level. FHFA uses the purchase price of houses with mortgages owned or guaranteed by Fannie Mae or Freddie Mac to calculate the monthly index.
     
    For the nine census divisions, seasonally adjusted monthly price changes from June to July ranged from -0.8 percent in the East South Central division to +1.3 percent in the Mountain division, while the 12-month changes ranged from -1.4 percent in the Middle Atlantic division to +11.9 percent in the Mountain division.


    ____________________

    Help with Any Real Estate Transaction - Buy or Sell 

    Call me 424-777-9377 -  FREE CONSULTATION! 



    Should you have any questions - please feel free to call me Toll Free: 1-855-TRUST-55 (1-855-878-7855)  ext. 777.

    Sergey Fednov - Trust Sale










    Sergey Fednov

    President - Realtor®
    - Trust Sale Realty -

    Residential & Commercial Real Estate
    _______________________________
    Toll Free: 1-855-TRUST-55
    Toll Free: 1-855-878-7855
    Phone: 424-777-9377
    Fax: 310-356-4925
    www.TrustSale.com 
    Lic# 01896869
    TrustSale.com

  • CoreLogic report shows market accelerating in all areas

    Posted Under: Market Conditions in Encino, Home Buying in Encino, Home Selling in Encino  |  September 20, 2012 12:32 PM  |  457 views  |  No comments

    CoreLogic report shows market accelerating in all areas
    CoreLogic’s September MarketPulse report, a monthly economic publication that provides insight into the current and future health of the U.S. economic climate with emphasis on housing and mortgage metrics, found that while robust economic growth remains elusive, the housing market is accelerating in all areas. Home sales are up, mortgage performance is improving, and prices are rapidly improving.
     
    Land is a critical cyclical component that drives home values. Currently land share of total home value is historically low, but if land sales begin to increase rapidly, home prices could rise more quickly than traditional income and rent-to-price fundamental indicators warrant, and would contribute to overall economic growth.
     
    The newly introduced CoreLogic Real Estate Strength Index (RESiâ„¢), is a monthly index that compares and ranks the quality, sustainability and health of metropolitan markets by incorporating economic, real estate and mortgage factors.
     
    According to RESi, the majority of the most-improved U.S. housing markets are in western markets, which peaked and bottomed earlier than many eastern and southern markets. Boise, Idaho, holds the top spot for most improved, followed by Phoenix, Ariz. and West Palm Beach, Fla.


    ____________________

    Help with Any Real Estate Transaction - Buy or Sell 

    Call me 424-777-9377 -  FREE CONSULTATION! 



    Should you have any questions - please feel free to call me Toll Free: 1-855-TRUST-55 (1-855-878-7855)  ext. 777.

    Sergey Fednov - Trust Sale










    Sergey Fednov

    President - Realtor®
    - Trust Sale Realty -

    Residential & Commercial Real Estate
    _______________________________
    Toll Free: 1-855-TRUST-55
    Toll Free: 1-855-878-7855
    Phone: 424-777-9377
    Fax: 310-356-4925
    www.TrustSale.com 
    Lic# 01896869
    TrustSale.com

  • Sens. Boxer and Menendez revive bill to help more homeowners refinance

    Posted Under: Market Conditions in Encino, Home Buying in Encino, Home Selling in Encino  |  September 19, 2012 12:33 PM  |  429 views  |  No comments



    California Senator Barbara Boxer and New Jersey Senator Robert Menendez this week reintroduced a measure that would allow millions of homeowners to more easily refinance their mortgages at lower rates. 

    First introduced in May, “The Responsible Homeowner Refinancing Act of 2012" would streamline and align the refinance processes of Fannie Mae and Freddie Mac and make it easier for homeowners who are current on their mortgage payments but who have been previously unable to refinance to finally take advantage of record low interest rates.

    The proposed legislation would extend streamlined refinancings; waive loan-to-value ratios for existing, well-performing loans to participate in the streamline program; make refinancings more affordable by eliminating up-front fees and appraisal costs; and improve competition for lenders looking to compete with the existing mortgage servicer.

    C.A.R. applauds Boxer (D-CA) and Menendez (D-NJ) for reintroducing this bill and recognizing that it benefits all parties involved.  “Responsible homeowners who can refinance will avoid foreclosure and have more money in their pockets.  Fannie Mae and Freddie Mac will see fewer foreclosures, and the housing market can continue its recovery,” C.A.R. President LeFrancis Arnold said in a statement.


    ____________________

    Help with Any Real Estate Transaction - Buy or Sell 

    Call me 424-777-9377 -  FREE CONSULTATION! 



    Should you have any questions - please feel free to call me Toll Free: 1-855-TRUST-55 (1-855-878-7855)  ext. 777.

    Sergey Fednov - Trust Sale










    Sergey Fednov

    President - Realtor®
    - Trust Sale Realty -

    Residential & Commercial Real Estate
    _______________________________
    Toll Free: 1-855-TRUST-55
    Toll Free: 1-855-878-7855
    Phone: 424-777-9377
    Fax: 310-356-4925
    www.TrustSale.com 
    Lic# 01896869
    TrustSale.com

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