There’s been a little seasonal cyclical pickup in housing activity recently, as spring and summer sales are generally stronger than fall and winter, but leading indicators point to housing sales bouncing near the bottom at least through the end of 2012. Economic growth is expected to be no greater than 2 percent through the end of 2012, which according to Fannie Mae’s Economics & Mortgage Market Analysis Group, this is a growth rate that makes the economy extremely vulnerable to any external shock that could trigger a downturn. The uncertainty surrounding the degree of domestic fiscal austerity, in addition to external factors, including the scheduled expiration of various tax cuts and unemployment benefits will determine how fast the economy will grow. Home prices are a key factor for ... 10/20/2011

View Maibu foreclosures here.  Following a steep spike in August, foreclosure starts returned to levels more in line with prior months in September, and were below the numbers reached at the peak.  California has seen a drop in activity of 56 percent since its peak, from 58,623 Notice of Default filings in March of 2009 to 25,778 today. Foreclosure sales were mixed in September. There were declines in Arizona, California and Nevada, while Oregon and Washington had increases. Despite the declines, the percentage purchased by third parties, typically investors, was at or near peak levels. In California, third parties made up a record 27.4 percent of all sales last month. California statistics:
 • Foreclosure timeframes declined 3.9 percent • Foreclosure starts declined 20.9 percent 
• For... 10/20/2011

According to CoreLogic, a little over 23,000 foreclosures in 2006 sat unsold until the second quarter of 2010. More than 355,000 properties were studied. Investors bought at the courtsteps about 1/3. The remainder went back on the books, becoming REOs. Of the remaining 2/3rds, 90% were sold to third-party buyers which still took time to sell. 1/2 took 6 months and over 20% took over 1 year.  Governments will have to hold these unsold homes, as REO sales have yet to peak. These are the many properties that fell into the foreclosure process before the system passed its maximum capacity.  Stats show that the longer properties sit, the more cash buyers end up with the property. Often at huge discounts.  These largely unmoving properties have crippled recovery in home prices. 2012 is expecte... 10/19/2011

Home prices may be held from a meaningful recovery for some time, as the sale of properties repossessed through foreclosure may not peak until 2013. Private banks held almost half of the 1/2 million REO properties liquidated. Analysts say that in the future, Freddie Mac, Fannie Mae and the Dept. fo Housing and Urban Developemnt will begin to take on a large deal of these assets.  Bank of America and Merrilly Lynch project that REO sales could reach nearly 1.5 million units in 2013 which is a projected 10% increase from 2012. Most of the projected increase will come as the government begins to unload its backlog. The government-sponsored enterprises and HUD, analysts estimate, will liquidate roughly 595,000 properties in 2013 alone. The Federal Housing Finance Agency is also working on a... 10/18/2011

Are you looking to buy or lease a home? Or maybe you just want to see what's out there. There are several open houses taking place this weekend in Malibu and Topanga. For information on the open houses, including details about the homes and vacant properties as well as the schedule, go to the 4 Malibu Real Estate Partners' Open House page.   10/15/2011

According to federal data, in 2010, nearly 2 million people were turned down for mortgages because they didn't meet certain lender requirements due to problematic or incomplete applications. Due to the stricter guidelines, it's important that buyers are educated about comon triggers for mortgage-loan rejection. 1. Insufficient income: Lenders want to be sure borrowers can afford to make the mortgage payments.  Lenders typically look for at least a two-year track record of income, which could hurt those who have changed jobs recently. 2. Cloudy financial picture: Generally, total debt payments, including the mortgage, cannot exceed 45 to 50 percent of a borrower’s adjusted gross monthly income.  Overtime and bonuses are included only if the borrower has worked for the same employer at l... 10/14/2011

Multiple reports showed national home sales and median price listings in September rose from a year ago with the home inventory down about 20%. Re/Max states that these positive signals were offset by a continued slight downward trend in home sales prices, down 3.3% from a year ago. Home sales nationally went up 7.6% from September 2010. According to Realtor.com, single-family home, condo, townhouse and co-op inventory was down 3.27% from August and down 20.09% from September 2010.  This year-over-year decrease could mean a return to seasonal patterns and higher prices in the coming months, though markets are still fragile and could weaken in bad economic conditions. Realty Trac stated that a decline in foreclosure filings may have hit rock bottom and that foreclosure activity will like... 10/14/2011

Barclays Captial states home prices could fall up to 7% by the end of the 2012 first quarter. They also noted that a bigger home price collapse from current levels is low. In another survey conducted by Fannie Mae found that most of those surveyed believe home prices will continute to fall around 1% over the next year.  CoreLogic & Clear Capital also expect home prices to continue to drop. Clear Capital is predicting for the last quarter of 2011, another drop in home prices and believe it will continue to decline through the first quarter of 2012.  10/14/2011

View Property Website. 3003 Sequit Dr., Malibu, CA 90265 3B 2B 10,000 sq. ft. lot (apx) Ocean & canyon views Complete remodel in progress In the El Nido neighborhood in Malibu Coming to market soon. Be one of the first to see this home.   10/12/2011

It's unforntuate to note that Congress failed to extend the $729,750 loan limits, despite extensive efforts by the California Association of Realtors and the National Association of Realtors in their fight for Freddie Mac, Fannie Mae and FHA conforming loan limits. The limits expired September 30th. What this means is that anything above $625,500 will be non-conforming, therefore a jumbo loan would be required. Jumbo loans generally have a larger mortgage interest rate and a higher down payment is required. Subsequently, the borrowers monthly payments would be higher and will cause greater difficulty with "middle class" seller and buyers.  10/11/2011

31422 Birdella Rd., Malibu, CA 90265 COMING SOON!- Bank-Owned/REO - Not in the MLS - Craftsman-style home - High ceilings in living room - Formal dining area - Kitchen with center island - Family room with wood-burning fireplace - Master suite with large walk-in closet  - Master bath with dual sinks, separate tub & shower - Den/bonus room with bathroom - 3 bedrooms upstairs - On cul-de-sac street - Detached 2-Car Garage - Large Lot - Access to nearby hiking trails - Close to freeway & beaches    ***View Property Website here. ***View Virtual Tour here.     10/10/2011

Federal Reserve Chairman Ben Bernanke spoke before the Joint Economic Committee of Congress last week about what he sees as our true economic outlook. In this statement he avoided sugar-coating worrisome trends and instead made clear that "the recovery is close to faltering." According to Bernanke, it has been three years since the beginning of the financial crisis, and while there have been improvements, such as manufacturing production rising 15 percent, a reduced U.S. trade deficit, and improved functionality in financial markets and banking, it is clear that the recovery is "less robust" than experts had hoped. Bernanke noted, "The housing sector has been a significant driver of recovery from most recessions in the United States since World War II. This time, however, a number of fa... 10/10/2011

This is something I read the other day, which I think we can all take something from: 1. Wake up early. For the next week, get up a half an hour earlier that you normally do--and get going. If you get a few more things done, then get up even earlier the next week. Early in the morning is a great time to get work done because most of your associates have not started emailing, tweeting, IMing, or posting yet. 2. Read the headlines and watch the news. Not only should you know what is going on in the world, you will also be the first to recognize opportunities (if you followed #1) for you and your business--long before the competition has even had their first cup of coffee. 3. Send something to one person who can hire you or buy your product--something you promised to follow-up with, a quic... 10/10/2011

    3000 Sequit Dr., Malibu, CA 90265 4B/3/5B $1,295,000   Custom view home situated on a promontory point overlooking the Pacific Ocean & Solstice Canyon. Vaulted ceilings and large, view picture windows. The kitchen opens to the family room. Formal dining room. 3 separately zoned heating/air systems. Attached mother-in-law suite can be 5th bedroom or office. 3-car garage w/additional storage space (apx. 600 sq. ft.). Conceptual plans for infinity pool available. This is a must see Malibu property. (Approved Short Sale)   10/08/2011

Standard & Poor's Rating Services' estimate of the number of months needed to clear the supply of distressed homes on the market fell in the second quarter for the first time since mid-2009. The current estimate is 47 months, a five-month decline from the first-quarter estimate and the largest quarter-to-quarter drop since mid-2008. While the volume of distressed U.S. non-agency residential mortgages remained extremely high-$405 billion in the second quarter-it has declined every quarter since mid-2010. At the end of the first quarter, the estimated balance of shadow inventory was $433 billion. Also, each of the individual top-20 metropolitan statistical areas that S&P tracks reported lower months-to-clear estimates during the second quarter than the previous quarter. Despite the improv... 10/08/2011

Are you looking to buy or lease a home? Or maybe you just want to see what's out there. There are several open houses taking place this weekend in Malibu and Topanga. For information on the open houses, including details about the homes and vacant properties as well as the schedule, go to the 4 Malibu Real Estate Partners Malibu & Topanga Open House List.  10/08/2011

Malibu Real Estate Partners   Bobby Lehmkuhl & Danielle Dutcher 23805 Stuart Ranch Road, Suite 150 Malibu, CA 90265 310.456.3655 / F 218.2117 www.4Malibu.com FOR SALE - APPROVED Short Sale - Custom Ocean View Home 3000 Sequit Dr., Malibu, CA MLS - 11-526631 4B/3.5B $1, 295,000        Not in the MLS - Ocean Views, Complete Remodel in Progress 3003 Sequit Dr., Malibu, CA Not in the MLS 3B/2B $1,140,000/mth            Just SOLD - Complete Remodel, Ocean & Mountain Views 26258 Fairside Rd., Malibu, CA MLS - 11-519411 4B/3.5B Sales Price - $719,000 - Represented Seller          Just SOLD - Bank-Owned/REO - Mountain Views, Large flat pad in Backyard 26322 Fairside Rd., Malibu, CA MLS - 11-539001 2B/2B Sales Price - $560,000 - Represented Seller          10/07/2011


Declining property values are preventing some homeowners from taking advantage of today’s historically low interest rates and refinancing. Making sense of the story Many homeowners nationwide have either no equity or are in a negative equity position in their homes.  This leaves them with two options for refinancing, paying extra at the closing or what’s known as a cash-in mortgage. Those considering refinancing will need to determine the current valuation, comparing it with the mortgage balance.  If the balance is at least 15 to 20 percent higher than what is owed, a refinance without a second down payment is possible. To obtain a good valuation, some homeowners hire an appraiser, at a cost of $300 to $600, or more on a large or expensive property.  While this may be informative, most... 10/07/2011

The U.S. homeownership rate in 2010 fell to the lowest level in 70 years, dropping to 65.1%, down from 66.2% in 2000, according to data from the Census Bureau. The decline came even as the nation added 15.8 million housing units, increasing the total housing inventory by 13.6%, the Census Bureau said Thursday. Eleven states suffered declines of at least two percentage points in their homeownership rates, led by South Carolina, with a decrease of 2.88 percentage points. The 10 states with the highest housing unit growth rates were in the West and South. After Nevada, Arizona clocked the second-largest gain, as its housing inventory rose by 29.9%, followed by Utah, with a 27.5% gain, and Idaho, with a 26.5% increase. California had the most total housing units in 2010, as it did in 2000, ... 10/06/2011

Towards the end of July, the Neighborhood Preservation Act of 2011 was re-introduced and proposed by California Congressman, Gary Miller.     Originally introduced in May 2009, the Neighborhood Preservation Act hopes to allow banks, as well as government sponsored entities Freddie Mac and Fannie Mae, to lease foreclosed properties to either the previous owner or another individual for up to five years. Once the lease is up, the tenant would be allowed the opportunity to purchase the property.   Some of the proposed benefits of the Neighborhood Preservation Act of 2011 are:  Former property owners are given the opportunity to remain in the home Allowing someone to live in the home would contribute to the property's upkeep, therefore preserving the home's value A lower inventory of forec... 10/06/2011