10 states with the highest share of non-current loans

Statistics released by the Mortgage Bankers Association this week showed the number of homes in the foreclosure process during the second quarter dropped for the first time since 2006.

10 states with the highest share of non-current loans:

1. Florida (23.6 percent)

2. Nevada (21.6 percent)

3. Mississippi (18.4 percent)

4. Georgia (15.6 percent)

5. Arizona (14.6 percent)

6. Illinois (14.5 percent)

7. Ohio (14.4 percent)

8. Indiana (14.3 percent)

9. Louisiana (14.2 percent)

10. Michigan (14.1 percent)

Other states where the percentage of non-current loans exceeded the national average of 13 percent: New Jersey (14.1 percent), Rhode Island (13.7 percent), California (13.5 percent), Tennessee (13.2 percent) and West Virginia (13.1 percent).Source: LPS.

San Diego Chargers 2010 Schedule

Saturday Aug 21, 6:00 PM, Dallas @ home
Friday, Aug 27, 5:00 PM, @ New Orleans
Thursday, Sept 2, 7:00 PM, @ San Francisco
Monday, Sept 13, 7:15 PM, @ Kansas City
Sunday, Sept 19, 1:15 PM, Jacksonville @ Home
Sunday, Sept 26, 1:15 PM, @ Seattle
Sunday, Oct 3, 1:15 PM, Arizona @Home
Sunday, Oct 10, 1:15 PM, @ Oakland
Sunday, Oct 17, 10:00 AM, @ St. Louis
Sunday, Oct 24, 1:15 PM, New England @ home
Sunday, Oct 31, 1:05 PM, Tennessee @ Home
Sunday, Nov 7, 10:00 AM, @ Houston
Mon, Nov 22, 5:30 PM, Broncos @ Home
Sunday, Nov 28, 5:20 PM, @ Indianapolis
Sunday, Dec 5, 1:05 PM, Oakland @ Home
Sunday, Dec 12, 1:15 PM, Kansas City @ Home
Thursday, Dec 16, 5:20 PM, San Francisco @ Home
Sunday, Dec 26, 5:20 PM, @ Cincinnati
Sunday, Jan 2, 1:15 PM, @ Denver

El Cajon Real Estate Stats - July 2010

Here is what has been happening in the real estate market for the 3 zip codes in El Cajon for the month of July.

92019
There are currently 115 Active listings (currently on the market) ranging from $229,500 for 3 bedroom, 2 bath, 1116 square feet to $2,595,000 for 4 bedrooms, 6 bathrooms, 5890 square feet.

52 properties are Pending (in escrow)

15 properties Sold in July (closed escrow) ranging from $231,000 for 3 bedroom, 2 bath, 1456 square feet to $840,000 for 5 bedroom, 4 bathroom, 3808 square feet.

92020
There are currently 108 Active listings (currently on the market) ranging from $134,000 for 2 bedroom, 1 bathroom, 780 square feet to $1,400,876 for 4 bedroom, 4 bathroom, 3500 square feet.

50 properties are Pending (in escrow)

25 properties Sold in July (closed escrow) ranging from $169,000 for 2 bedroom, 2 bathroom, 1564 square feet to $690,000 for 4 bedroom, 4 bathroom, 3072 square feet.

92021
There are currently 104 Active Listings (currently on the market) ranging from $168,900 for 1 bedroom, 1 bathroom, 1053 square feet to $1,795,000 for 3 bedroom, 2 bathroom, 7500 square feet.

57 properties are Pending (in escrow)

28 properties Sold in July (closed escrow) ranging from $200,000 for 2 bedroom, 1 bathroom, 980 square feet to $1,200,000 for 5 bedroom, 5 bathroom, 5838 square feet.


So there you have it.  If you would like information about another zip code in San Diego county, please feel free to let me know and I will get you the information you need.  Have a great month!

Jamul Real Estate Stats for July 2010

Even though it may not feel like it, it IS August.  Here is the market report for Jamul for the month of July.

There are currently 55 Active listings (currently on the market) ranging from $169,000 for 2 bedroom, 2 bath, 1584 square foot home to $2,350,000 for 6 bedroom, 5 bath, 6264 square foot home.

There are 8 properties pending (currently in escrow)

3 properties SOLD in Jamul in July (closed escrow): ranging from a 3 bedroon, 2 bath, 1196 square feet for $200,000 to $1,100,000 for 4 bedroom, 4 bath, 3650 square foot home.

So there you have it.  I will post another market report next month.  Have a good month.

El Cajon - Concerts on the Green

Is anyone interested in listening to some music?  Call me if you want to go to the El Cajon - Concerts on the Green.  Great way to unwind after a busy week on a cool summer night.


Fridays, 6:00 to 8:00 pm
El Cajon Plaza / Amphitheatre
200 Civic Center Way
(formerly 200 East Main Street)

Parking is available at the El Cajon Courthouse on W.D. Hall Drive

Here is the schedule for the remainder of the summer.

July 30 Java (Dance)
August 6 The Stilettos (Rockabilly)
August 13 The Cat-illacs (Rock & Roll)
August 20 The Coolrays (Beach Boys Tribute)
August 27 Diamond is Forever (Neil Diamond Tribute)
September 3 FX5 (Dance)

S.D. home prices up 12.4% in May

BY JENNIFER DAVIES UNION-TRIBUNE STAFF WRITER
ORIGINALLY PUBLISHED JULY 27, 2010 AT 6:49 A.M., UPDATED JULY 27, 2010 AT 2:58 P.M.

San Diego home prices increased 12.4 percent in May from a year ago and San Diego was the only metro area in the country with 13 months of consecutive increases in home prices, says the latest Standard & Poor’s Case-Shiller Home Price Index released Tuesday.

San Diego’s increase was the second highest of the 20 metro areas surveyed, with San Francisco taking the top spot with an 18.3 percent increase.

On a monthly basis, San Diego saw its home prices increase 1.1 percent. Since spring is one of the busiest times for home selling, Case-Shiller also provides seasonally adjusted numbers, which showed San Diego with a slightly lower increase at 0.6 percent.

On a nationwide level, prices in the 20 metro areas Case-Shiller tracks were up 4.6 percent from May 2009.

Despite the increases, there are plenty of reasons to be pessimistic about the housing market for the rest of the year.

While prices nationally have improved from the lows hit in April 2009 — San Diego hit its Case-Shiller low in May 2009 — they’ve essentially been flat for much of the past seven months. According to Case-Shiller’s index, home prices in San Diego are at about the same level they were in June 2003.

Maureen Maitland, vice president of Index Services at Standard & Poor’s, said the end of tax credits and the busiest home-buying season means there is little else to prop up home prices.

“Sure, April and May look good. But you have to look at the trends,” she said. “Going forward, all bets are off. You need true economic recovery for the housing market to be sustained.”

Kelly Cunningham, an economist with National University System Institute for Policy Research, said he doesn’t foresee the San Diego region going through another gut-wrenching drop in housing prices but he also doesn’t see any eye-popping gains, either.

“It’s going to be kind of stagnant is the best way to put it,” he said.

Still, stagnant might not be all that bad when compared to other parts of the country. San Diego and other California cities have been performing better than their counterparts in the Sunbelt because they didn’t go through frenzied building sprees during the bubble.

“In coastal California, we have constrained housing development,” Cunningham said. “It comes back down to supply and demand. We don’t have the problems that Las Vegas, Phoenix or even Riverside have.”

Jennifer Davies: (619) 293-1373; jennifer.davies@uniontrib.com

3 Units in El Cajon For Sale

What is Title Insurance?

Title insurance companies, unlike property or medical insurance companies work to eliminate risk before something happens.  Title insurance premiums are paid to identify and eliminate potential claims and risk before they happen.  Medical and homeowner insurance premiums are paid to insure against an unpredictable future event.  Title insurance premium is paid once, during escrow while other types of insurance are paid at regular intervals and are renewed.

The goal of a title company is to conduct a thorough search and evaluation of public records to prevent any future claims.  The experts are trained to identify the rights others may have to your property, such as recorded liens, legal actions, disputed interests, rights of way or other encumbrances on your title.  They should have extensive experience in local Boundary Lines and Easement locations which will enable them to forecast potential obstacles in a transaction. 

There are 2 different types of title companies.  Direct Writers issue their own policy and have reserves set aside to back the policies of title insurance they issue.  Title Agents operate like a direct writer, however they do not issue their own policy of title insurance but rather pay a fee to the direct writer for the right to issue a policy of title insurance.

El Cajon Real Estate Market Report For June 2010

Here is the real estate market report for El Cajon for the month of June.  Below you will find information for the 3 El Cajon zip codes.  This report includes information for single family homes only, condos are not included.

92019

There are 107 active listings ranging from $219,000 for 3 bedroom 2 bath, 1180 sqft to $2,595,000 for 4 bedroom 6 bath, 5890 sqft.

52 properties are pending, in escrow.

25 properties sold in June ranging from $185,000 for 2 bedroom 1 bath, 955 sqft to $778,000 for 4 bedroom 4 bath, 3702 sqft.  The average market time was 70 days.

92020

There are currently 97 active listings ranging from $159,000 for 2 bedroom 1 bath, 780 sqft to $999,900 for 4 bedroom 4 bath, 4700 sqft.

53 properties are pending, currently in escrow.

24 properties sold in June ranging from $230,000 for a 4 bedroom 2 bath, 1616 sqft to $612,000 for 4 bedroom 3 bath, 2946 sqft.  The average market time was 45 days.

92021

There are currently 104 active listings ranging from $189,000 for a 2 bedroom 2 bath, 1050 sqft to $1,795,000 for 3 bedroom 2 bath, 7500 sqft.

49 properties are currently pending, in escrow.

29 properties sold in June ranging from $190,000 for 2 bedroom 2 bath, 960 sqft to $980,000 for 4 bedroom 6 bath, 4389 sqft home.  Average market time was 64 days.

If you would like me to run the numbers for you in a different area, please feel free to give me a call.

Jamul Real Estate Report For June 2010

Happy July everyone!  I hope you had a fun and safe 4th of July.  Here are the real estate statistics for Jamul for the month of June.

There are currently 97 Active listings, ranging from $149,900 for a 2 bedroom 1 bath, 906 sqft, extreme fixer to $2,350,000 for a 6 bedroom, 5 bath, 6264 sqft home.

6 properties are pending, currently in escrow.

3 properties sold in June ranging from $360,000 for 3 bedroom, 3 bath, 2292 square foot home to $504,000 for a 3 bedroom, 3 bath, 3065 square foot home.  The average market time was 61 days.

Bank of America Loan Modification Program

I have been getting a lot of requests for this information so I thought I would share with it everyone.  Here is the link to Bank of America's website for Home Mortgage assistance.

Bank of America - Home Affordability Modification Program

If you do not qualify for a modification or you decide to sell your home through a short sale, please call me.  I would be happy to explain the process and get it started.

San Diego 4th of July Fireworks 2010

Here are some of the places you can catch Fourth of July Fireworks this year.

SAN DIEGO

SeaWorld San Diego - Celebrate Independence Day on July 3rd, 4th & 5th starting at approximately 9:30 p.m.

Ocean Beach Pier – On July 4th, Fireworks begin at 9 p.m and will be synchronized to KYXY Radio's patriotic music.

Port of San Diego: at 9 p.m. - San Diego Bay is the place to be on Sunday, July 4, 2010. You can see these fireworks from Shelter Island, Harbor Island, Spanish Landing, Embarcadero Marina Parks North and South, Cesar Chavez Park, Coronado Tidelands Park and the Imperial Beach Pier.

La Jolla Cove Fireworks - over La Jolla Cove at 9 p.m. on the 4th (858) 454-1444.

Mira Mesa Recreation Center/ Mira Mesa Community Park: July 4th, Fireworks begin at 9 p.m. and will be synchronized to KYXY Radio's patriotic music.

Rancho Bernardo Fireworks begin at 9 p.m. and will be synchronized to KYXY Radio's patriotic music.

NORTH COUNTY

Poway -The fireworks to begin at 9 p.m.

The San Diego County Fair - The fireworks will begin at 9 p.m.

San Marcos at Bradley Park – Fireworks will begin at 9

Escondido Grape Day Park – Fireworks will begin at 9 p.m. and will be synchronized to KYXY Radio's patriotic music.

Vista's Brengle Terrace Park 4th of July - Fireworks to begin at 9 p.m

EAST COUNTY

Lake Murray Fireworks - Fireworks to begin at 9:15 p.m.

Ramona Fireworks - Olive Peirce Middle School, Fireworks to begin at 9 pm. and will be synchronized to KYXY's radio's patriotic music.

El Cajon Fireworks : Kennedy Park, Fireworks to begin at 9 p.m. synchronized to KYXY Radio's patriotic music.

Santee Salutes July 4th: - Fireworks to begin at 9 p.m.

Spring Valley Swap Meet – Fireworks to begin at 9 p.m.

SOUTH BAY

National City: Kimball Park - Fireworks to begin at 9 p.m.