Jeff Yocca's (jyocca) Blog

Over the last 2 weeks, I have submitted over 20 offers. Unfortunately, most houses for sale are receiving 10 to 20 offers and selling $20K to $30K over asking price.  Inventory is artificially low. Buyer's are frustrated! It would be nice if the banks released the inventory they are sitting on.  

My clients just became a victim of the FHA 90 Day Flip Rule. I recently submitted an offer for my clients, a nice, young married couple with a little boy and one on the way.  We found a nice 3 bedroom, 2 bath house, cir: 1995, 1450 sq.ft.  We placed a full price offer and expected good news back ...

I just read the Sac Bee article pointing out that investors are buying a lot of the bank owned properties in Sacramento and converting them into rentals.  The median sales price stated in the article was $185,000. This confirms what I've been seeing in the Sacramento market.  I've helped investor...

The California Association of realtors just released a study indicating that the current affordability index is up to 59%.  Because interest rates and homes prices have declined someone with a $48,000 per year income would be able to afford a home.  This is down from over $83,000 last year. To re...

I just read about the New Home Tax Credit as part of the New California State Budget. The new state budget contains a $10,000 tax credit for buyers of new homes in California. As I understand it, it applies to new, never-occupied houses and condos bought between March 1, 2009, and March 1, 2010. ...