Thursday, September 20, 2012

San Diego County Home Sales Up 22 Percent in August

The number of homes sold in San Diego County last month jumped 22.5 percent, compared with August 2011, the real estate research firm DataQuick reported.

Last month's performance was the best for August in six years around Southern California, according to the report.

"Much of the pickup in activity reflects a continuation of trends we've seen for months, like the unleashing of pent-up demand in move-up markets and high levels of cash and investor buying," said John Walsh, president of DataQuick.

He said cash purchases now account for one-third of all sales, and it will be interesting to see when that begins to fade.

"In the meantime, strong seasonal forces should be kicking in now," Walsh said. "Absent an unusual surge of demand this fall, sales will taper off over the next few months."

In San Diego County, 3,981 homes sold last month. By comparison, 3,249 sold in the same month last year.

The median price was $345,250, a nearly 8 percent increase over the $320,000 of August 2011, according to DataQuick.

The firm also reported that, around Southern California's six counties, there has been a steep drop in the sales of foreclosed homes and an sharp increase in purchases of mid- to high-end housing. The number of houses in the $300,000-$800,000 range that sold last month, compared with August 2011, was 23.4 percent higher. For those above $800,000, the jump was 19.3 percent.

courtesy of:  http://santee.patch.com

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19 Major Markets See Price Gains in August - Redfin

Beating summer expectations, home prices ticked up 5 percent across 19 major U.S. markets in what real estate broker Redfin called an “indicator of a housing market getting stronger.”

According to the broker, home sales went up 1.4 percent year-over-year, eclipsing a 2.5 percent decline in July. Home sales increased from 26.7 percent to 27.6 percent last month.

Of major U.S. cities, prices in Phoenix went up by 31 percent year-over-year. Home prices meanwhile fell 4 percent from August last year.

Homes sold fastest in six markets, led by San Jose, where 52.3 percent of listings were under contract in 14 days, followed by San Francisco (45.6 percent), Ventura (43.5 percent), Inland Empire (42.8 percent), San Diego (41.2 percent), and Los Angeles (39.8 percent). Properties sold less well in Boston (3.9 percent).

When it came to inventory, Redfin found year-over-year tailspins in seven markets, with most of them in California. Those included Sacramento at a loss of 65.7 percent; Ventura, at 62.6 percent; Inland Empire, 57.9 percent; San Francisco, 56.2 percent; San Jose, 55.8 percent; San Diego, 52.4 percent; and Los Angeles, 52.3 percent.

“In our business, Redfin saw a monster surge in August closings,” Redfin CEO Glenn Kelman said in a statement. “While September now seems likely to be down nearly 20% from August’s peak, we were surprised after Labor Day to see a relatively large number of new customers begin touring homes for the first time, which has given us reason to be optimistic about the rest of the fall and even the year ahead.

“The main reason there aren’t more sales is that there aren’t more sellers, as most would-be sellers are holding out for more price gains in 2013 before listing their home, and many of today’s move-up buyers just plan to rent out their old place,” he added.

Courtesy of:  http://www.dsnews.com

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San Diego's 20 Hottest ZIP Codes For Home Sales In August

A total of 3,981 homes, from condos to single-family properties, were sold in San Diego County in August -- the highest level since June 2006. Yep, more than six years, based on the most recent DataQuick numbers. Sales in Southern California followed the same pattern.

Here's a closer look at the ZIP codes that saw the most homebuyer activity when looking at all sales combined.

Ranked by sales, August 2011 v. August 2012

RankSub-regionNeighborhoodZIP codeSold '11Sold '12Sold Pct Chg
1 North County Inland Rancho Santa Fe 92067 6 18 200.0%
2 Central San Diego Golden Hill 92102 12 31 158.3%
3 North County Coast Carlsbad SW 92011 21 50 138.1%
4 North County Coast Oceanside S 92054 25 54 116.0%
5 North County Inland Escondido W 92029 11 20 81.8%
6 North County Inland Fallbrook 92028 37 67 81.1%
7 North County Coast Solana Beach 92075 17 30 76.5%
8 Central San Diego Serra Mesa 92123 19 31 63.2%
9 Central San Diego Coronado 92118 23 37 60.9%
10 South County Imperial Beach 91932 15 24 60.0%
11 Central San Diego Morena 92110 24 38 58.3%
12 North County Inland Vista E 92084 36 57 58.3%
13 East County Rancho San Diego 91978 9 14 55.6%
14 Central San Diego Mission Valley 92108 26 40 53.8%
15 East County Lemon Grove 91945 17 26 52.9%
16 North County Inland Escondido N 92026 53 81 52.8%
17 North County Inland Poway 92064 47 70 48.9%
18 North County Coast Oceanside N 92057 73 107 46.6%
19 Central San Diego La Jolla 92037 52 76 46.2%
20 South County Chula Vista SE 91915 57 83 45.6%
Source: DataQuick
courtesy of:  Lily Leung

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San Diego Film Festival

Event Date/Time

Sep 26, 2012 to Sep 30, 2012

Description

 

The non-profit San Diego Film Foundation produces the annual San Diego Film Festival showcasing one-of-a-kind film premieres, informative industry panels, and filmmaker and celebrity events.  The organization is devoted to the inspiration and talent behind each film, and turns every screening into a must-see event, complete with after-parties. 

The San Diego Film Festival is scheduled for Wednesday, September 26, 2012 – Sunday, September 30, 2012.  For the first time, the Festival will be held at two venues: the Reading Theater in the Gaslamp Quarter (701 Fifth Avenue, San Diego, 92101), and the Museum of Contemporary Art La Jolla, Sherwood Auditorium (700 Prospect Street, La Jolla, 92037). Tickets start at $14 for pre-sale/$16 at the door, and go up to $75 for a one day pass, and range up to $500 for a Festival VIP Pass to all screenings, premieres, events, and panels on all days.  A dramatic expansion this year, Festival organizers anticipate hosting over 100 film screenings.

 

Cost $14 and up
Location

Reading Theater, Gaslamp & Museum of Contemporary Art, La Jolla
CA

courtesy of:  http://www.sandiegomagazine.com

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San Diego.ArtWalk on the Bay

Event Date/Time

Sep 22, 2012 to Sep 23, 2012
10:00 am until 5:00 pm

Description

 

The 7th Annual ArtWalk on the Bay, taking place at the Waterfront Park at the Hilton San Diego Bayfront, will bring more than 150 artists and thousands of spectators to "The Big Bay" in San Diego. During the festival, art enthusiasts will have the opportunity to peruse and purchase thousands of paintings, sculpture, photographs and other original works of art while enjoying a spectacular grassy setting along the waterfront. Sponsored by the Port of San Diego, the festival is known for its picturesque venue, located adjacent to the Hilton San Diego Bayfront, with views that look out to Coronado Island and southern California's active sailing and yachting community.

The "little sister" of the West Coast's largest fine art festival held in the spring, Mission Federal ArtWalk, ArtWalk on the Bay provides an intimate setting which allows art lovers an opportunity to engage one-on-one with the artists, discover the inspiration behind their work and make purchasing decisions that enrich one's spirit and decor. Artists come from all parts of the western region to showcase their work. A special event feature, "Artes de Mexico" will bring culture-rich works of art created by Mexico-based artists. A full lineup of musical entertainment, "ArtWalk on the Bay Café" and a host of gourmet food and drink choices will enhance the festival's popularity.

ArtWalk on the Bay continues to gain momentum and vibrancy as a pillar event of "Arts Month San Diego," a region-wide celebration showcasing the city's arts and cultural programs in galleries, artist-run initiatives, museums, performance venues and festivals. ArtWalk on the Bay's managing director, Sandi Cottrell, is proud to be one of the three founders of Arts Month San Diego. In its third year, the initiative spotlights art experiences available by neighborhood and features art-based travel itineraries for visitors to plan their stays in San Diego.

The outdoor fine art festival is also known as a welcoming atmosphere in the arts community with hands-on art activities for kids and families at KidsWalk, which is based on the philosophy that every child has an artist inside waiting to bloom. Local non-profits like ArtReach, which brings arts education to schools, will provide activities for kids to create their own work of art to take home with them.

 

Cost Free
Location

Waterfront Park at the Hilton San Diego Bayfront
1 Park Boulevard
San Diego, CA

courtesy of:  http://www.sandiegomagazine.com

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Thursday, September 13, 2012

Most Searched Rental Neighborhoods In 15 Major Cities

SAN FRANCISCO, September 07, 2012 Trulia, a leading online marketplace for homebuyers, sellers, renters and real estate professionals, today unveiled the most searched for neighborhoods for 15 of the top rental markets across the U.S. As recent data from Trulia shows, despite a slowdown in rising rental prices, year-over-year rent prices have increased 4.7% nationally. And there are still many hot markets, including 8 metros with year-over-year rent increases of at least 8%. In this latest analysis, Trulia takes a deeper look at 15 top rental markets to provide insight on where renters want to live at the neighborhood level.

“In many metros, we’re still in a landlord’s market where competition among renters is high,” said Pierre Calzadilla, Trulia’s Manager of Apartment Industry Relations. “Across metros, we’re seeing spikes in searches for specific neighborhoods where competition can be cutthroat. But no matter how popular the area or the neighborhood, finding the best listings first and being prepared to rent when you do will give you a chance to find an apartment in any situation.”

“In the recession and in the recovery, more people have become renters – some by choice and some out of necessity,” said Jed Kolko, Trulia’s Chief Economist. “Renters face rising rents nearly everywhere across the U.S., and in many urban markets the competition for limited rental units is fierce. Now, however, more new rental units are coming onto the market as developers finish projects they started last year, which will slow down rent increases and give people who are looking to rent more options to choose from.”

Trulia looked at its data in 15 popular rental markets around the country to determine the three most searched-for neighborhoods in each. Here they are in alphabetical order:

Most Popular Neighborhoods

Austin: Hyde Park, Downtown, Allandale

Boston: Back Bay, South End,  Beacon Hill

Brooklyn: Park Slope, Williamsburg, Brooklyn Heights

Charlotte: Dilworth, Myers Park, Elizabeth

Chicago: Lincoln Park, Wicker Park, Bucktown

Dallas: M Streets, Lakewood, Oak Lawn

Houston: Neartown/Montrose, Greater Heights, Midtown

Las Vegas: Summerlin, Las Vegas, Summerlin South

Los Angeles: Hollywood Hills, Silver Lake, Los Feliz

Manhattan: West Village, Upper East Side, West Village

Philadelphia: Rittenhouse Square, Northern Liberties/Fishtown, Center City West

San Antonio: Monte Visa, Downtown, King William

San Diego: Pacific Beach, North Park, Mira Mesa

San FranciscoSoma, Pacific Heights, Nob Hill

Washington D.C.: Dupont Circle, Georgetown, Adams Morgan 

 

Courtesy of:  http://info.trulia.com

Posted via email from RealtorPeg

Buying A Home Is 45% Cheaper Than Renting

You can save hundreds of dollars a month by buying a home instead of renting – especially if you can get today’s low mortgage rates, itemize your tax deductions and plan to live there for 7 years.

The most important housing decision that most consumers face is whether to rent or to buy. So to help them with this decision, we took a look at the key market factors affecting the cost of homeownership.  First off, asking home prices have started to rebound and have risen by 2.3% year over year in August (3.8% excluding foreclosures); however, rents have risen more (4.7%). This means that prices are lower relative to rents than they were a year ago. But more importantly, mortgage rates have fallen: the best rates this summer have been around 3.5%, while last summer rates were closer to 4.5%. Based on asking prices and rents during the summer of 2012, buying is now 45% cheaper than renting in the 100 largest U.S. metros, on average – that’s a savings of $771 a month. If you plan to stay in a home for 7 years, which is the average time that Americans traditionally live in a home before moving again, it is more affordable to buy than to rent in ALL of the 100 largest metros in the U.S.

Costs aside, the decision to rent or buy a home is very personal. There’s a strong emotional component: some people want the security of homeownership and others want the footloose freedom of renting. But the financial factors are also very personal because the decision to rent or buy depends on:

  1. Can you qualify for a mortgage at the best rate available?
  2. Which tax bracket are you in, and do you itemize your deductions?
  3. How long will you stay in your home?

To calculate whether renting or buying costs less, we assume people can get a low mortgage rate of 3.5%, itemize their federal tax deductions and are in the 25% tax bracket, and will stay in their home for seven years. (Below, we’ll show how changing these assumptions can affect the rent-versus-buy math.) We do the following calculations:

  • First, we looked at all the homes for sale and rentals listed on Trulia in June, July and August 2012. On for-sale homes, we took the asking price and estimated what it would rent for; for rentals, we took the asking rent and estimated what it would sell for. That way, we can calculate the average rent and asking price for an identical set of properties in a metro area, for a direct apples-to-apples comparison. By looking at homes currently for sale or rent, we’re able to illustrate the actual housing options that consumers face right now.
  • Second, we estimated the total costs of renting and buying for the typical property in a metro over a seven-year period. We factored in all the costs of homeownership (e.g., closing costs, maintenance, insurance, taxes, etc.), along with the tax benefit of deducting mortgage interest and property taxes, as well as the proceeds from selling the home after seven years with modest home price appreciation. On the rental side, we factored in renters’ insurance and the security deposit. Finally, we calculate the net-present-value of all those costs to capture the opportunity cost of tying your money up in a down payment. This gives us the total cost of buying versus renting. We then calculated the dollar difference and percentage difference between renting and buying.
  • Finally, we looked at alternative scenarios of the costs of renting versus buying, by changing the mortgage rate, the income tax bracket for tax deductions, and the time horizon.

Where Buying is a Slam Dunk
With a 20% down payment, a 30-year fixed mortgage rate at 3.5% and at the 25% federal tax bracket, homeownership is cheaper than renting in all of the 100 largest metros by a wide margin. There is no market where the financial decision is even close, so long as you plan to stay in the home for at least seven years, get 3.5% mortgage, and itemize your tax deductions. However, how much cheaper it is to buy a home than to rent really depends a LOT on where you live.

Buying is 24% cheaper than renting in Honolulu, 28% cheaper in San Francisco, and 31% cheaper in New York. On the other end of the spectrum, homeownership is extremely affordable in Detroit, where buying a home is 70% cheaper to buy than to rent, and 63% cheaper in both Oklahoma City and Gary IN. Check out the top 10 lists below to see where the cost differences between buying and renting are smallest and largest.

Where the Financial Advantage of Buying Over Renting is Smallest

U.S. Metro

Monthly cost of OWNING

Monthly cost of RENTING

Difference

($)

Difference

(%)

Honolulu, HI

$1,519

$2,007

-$488

-24%

San Francisco, CA

$2,327

$3,226

-$899

-28%

New York, NY-NJ

$1,857

$2,687

-$831

-31%

San Jose, CA

$1,819

$2,646

-$827

-31%

Los Angeles, CA

$1,379

$2,020

-$641

-32%

Ventura County, CA

$1,516

$2,274

-$759

-33%

Orange County, CA

$1,610

$2,423

-$813

-34%

San Diego, CA

$1,314

$1,981

-$667

-34%

Albany, NY

$999

$1,535

-$536

-35%

Long Island, NY

$1,603

$2,513

-$910

-36%

Note: Cost of homeownership assumes that the home is sold after 7 years and includes closing costs, maintenance, insurance, property taxes and other costs. Cost of renting includes security deposit and renters insurance. Monthly cost is based on net present value of costs over 7 years. Monthly costs are based on the average across all properties listed in the metro area, including those for sale and those for rent, in summer 2012.

Where the Financial Advantage of Buying Over Renting is Huge

U.S. Metro

Monthly cost of OWNING

Monthly cost of RENTING

Difference ($)

Difference (%)

Detroit, MI

$349

$1,149

-$800

-70%

Gary, IN

$616

$1,649

-$1,033

-63%

Oklahoma City, OK

$590

$1,576

-$987

-63%

Lakeland-Winter Haven, FL

$495

$1,276

-$781

-61%

Toledo, OH

$476

$1,222

-$746

-61%

Dayton, OH

$524

$1,332

-$808

-61%

Warren-Troy-
Farmington Hills, MI

$588

$1,494

-$907

-61%

Memphis, TN-MS-AR

$548

$1,389

-$841

-61%

Cleveland, OH

$585

$1,464

-$879

-60%

West Palm Beach, FL

$723

$1,764

-$1,041

-59%

Note: Cost of homeownership assumes that the home is sold after 7 years and includes closing costs, maintenance, insurance, property taxes and other costs. Cost of renting includes security deposit and renters insurance. Monthly cost is based on net present value of costs over 7 years. Monthly costs are based on the average across all properties listed in the metro area, including those for sale and those for rent, in summer 2012.

What does this mean in dollars? Buying is cheaper than renting by several hundred dollars a month in every large metro. The charts above show how the percent difference in buying versus renting may be smaller in San Francisco (-28%) than in almost all other metros, but the annual dollar savings is big ($899) because the rents and home prices there are so high – so even a smaller percentage difference means a big dollar difference. (Remember that we’re looking at the annual cost of buying or renting the typical listed home. Most homes listed are for-sale, and for-sale homes tend to be much larger than rentals, on average. That’s why the monthly cost of renting the typical home is higher than the actual amount most renters pay.)

Why Mortgage Rates, Tax Brackets and Timing Matters in the Rent vs. Buy Debate
But what if you can’t get the best mortgage rate, don’t itemize your tax deductions or stay in your home for less than seven years? Each of those raises the cost of homeownership, so buying wouldn’t be quite as good of a deal relative to renting. Here’s why each matters:

  • The best mortgage rates are available for people with the best credit scores – and a not-so-hot credit score could make your mortgage a full percentage point higher, which translates to at least a 10% difference in your monthly mortgage payment.
  • Itemizing your tax deductions lets you subtract your mortgage interest and property tax payments from your pre-tax income, which lowers your tax burden especially if you’re in a higher tax bracket. How much does not itemizing raise the cost of homeownership? It depends on your tax bracket and the amount of mortgage interest and property taxes you would deduct.
  • Selling a home in less than seven years after buying it means that you’re spreading your buying and selling closing costs overfewer years – making the average monthly cost of homeownership higher.

To see how your mortgage rate, tax bracket and time horizon affect the cost of renting versus buying, let’s look at several scenarios for a few large metros:

SCENARIO

New York

LA

Boston

Atlanta

3.5% mortgage, 25% tax bracket, stay 7 years (baseline)

-31%

-32%

-41%

-57%

4.5% mortgage *

-23%

-24%

-34%

-53%

Not itemizing tax deductions *

-18%

-21%

-30%

-50%

Stay 5 years *

-21%

-22%

-32%

-52%

4.5% mortgage, not itemizing, AND 5 years

3%

-1%

-12%

-40%

* For these scenarios, the factors not mentioned are the same as the baseline.

Take Los Angeles, for instance. The top row shows that if you can (1) get a 3.5% mortgage, (2) are in the 25% tax bracket and itemize your deductions, and (3) stay 7 years, it’s 32% cheaper to buy than to rent.

In the other 96 of the 100 largest metros, though, buying is still cheaper than renting. In Atlanta, for instance, where buying is 57% cheaper than renting in the best of circumstances (3.5% mortgage, itemizing, and staying 7 years), buying remains 40% cheaper even with a 4.5% mortgage, not itemizing, and staying only 5 years. In fact, today’s low mortgage rates make it financially better to buy even if you only stay put for 3 years in many metros. But buying a home also involves a lot of time, emotional energy and financial risk, so we can’t really recommend buying a home that you plan to live in for just 3 years even if the financial calculation is in favor of buying. Money isn’t everything.

If Buying is So Cheap …
… why isn’t everyone doing it? Home sales are still less than halfway back to normal, and the homeownership rate continues to fall. The big obstacle holding back renters who want to buy is the down payment – even more than getting a mortgage. And keep in mind, in the metros where the cost of buying is less than half of what it would cost to rent over the long term, it still takes years to save enough for a down payment. It may be 56% cheaper to buy than to rent in Denver, for instance, but it takes more than 8 years to save enough for a down payment there. And high unemployment during the recession made it even harder than usual for people to save for a down payment. On top of that, people who lost their homes or took on lots of debt might not qualify for a mortgage. Bottom Line: Buying may beat renting in every major metro by a wide margin, saving consumers thousands of dollars a year, but buying still remains out of reach for many would-be homeowners.

Courtesy of:  http://trends.truliablog.com

Posted via email from RealtorPeg

MOST SEARCHED FOR RENTAL NEIGHBORHOODS IN 15 TOP METRO AREAS

SAN FRANCISCO, September 07, 2012 Trulia, a leading online marketplace for homebuyers, sellers, renters and real estate professionals, today unveiled the most searched for neighborhoods for 15 of the top rental markets across the U.S. As recent data from Trulia shows, despite a slowdown in rising rental prices, year-over-year rent prices have increased 4.7% nationally. And there are still many hot markets, including 8 metros with year-over-year rent increases of at least 8%. In this latest analysis, Trulia takes a deeper look at 15 top rental markets to provide insight on where renters want to live at the neighborhood level.

“In many metros, we’re still in a landlord’s market where competition among renters is high,” said Pierre Calzadilla, Trulia’s Manager of Apartment Industry Relations. “Across metros, we’re seeing spikes in searches for specific neighborhoods where competition can be cutthroat. But no matter how popular the area or the neighborhood, finding the best listings first and being prepared to rent when you do will give you a chance to find an apartment in any situation.”

“In the recession and in the recovery, more people have become renters – some by choice and some out of necessity,” said Jed Kolko, Trulia’s Chief Economist. “Renters face rising rents nearly everywhere across the U.S., and in many urban markets the competition for limited rental units is fierce. Now, however, more new rental units are coming onto the market as developers finish projects they started last year, which will slow down rent increases and give people who are looking to rent more options to choose from.”

Trulia looked at its data in 15 popular rental markets around the country to determine the three most searched-for neighborhoods in each. Here they are in alphabetical order:

 

Most Popular Neighborhoods

Austin: Hyde Park, Downtown, Allandale

Boston: Back Bay, South End,  Beacon Hill

Brooklyn: Park Slope, Williamsburg, Brooklyn Heights

Charlotte: Dilworth, Myers Park, Elizabeth

Chicago: Lincoln Park, Wicker Park, Bucktown

Dallas: M Streets, Lakewood, Oak Lawn

Houston: Neartown/Montrose, Greater Heights, Midtown

Las Vegas: Summerlin, Las Vegas, Summerlin South

Los Angeles: Hollywood Hills, Silver Lake, Los Feliz

Manhattan: West Village, Upper East Side, West Village

Philadelphia: Rittenhouse Square, Northern Liberties/Fishtown, Center City West

San Antonio: Monte Visa, Downtown, King William

San Diego: Pacific Beach, North Park, Mira Mesa

San FranciscoSoma, Pacific Heights, Nob Hill

Washington D.C.: Dupont Circle, Georgetown, Adams Morgan 

 

courtesy of:  http://info.trulia.com/

Posted via email from RealtorPeg

Sunday, September 2, 2012

NEW LAWS: Maintaining Vacant REOs and Protecting Military Servicemembers

Connect with C.A.R.
Realegal®
   
 
Brought to you by the CALIFORNIA ASSOCIATION OF REALTORS®.
On August 27, Governor Brown signed three significant legislative bills into law that may be of interest to REALTORS®. The full text of each law is available at http://www2.realtoractioncenter.com/site/R?i=p_IsleQQXVvdAZpraf0OTA.

  • Maintaining Vacant REO Properties:  An existing law requiring an owner of vacant residential property acquired through foreclosure to maintain the exterior of the property, was originally set to expire on January 1, 2013, but has now been extended indefinitely. To prevent blighted neighborhoods, this law allows a governmental entity to impose a fine up to $1,000 per day for any violation. Violations of this law include allowing excessive foliage growth that diminishes the value of surrounding properties, failing to take action against trespassers or squatters, failing to prevent mosquitoes from breeding in standing water, and other public nuisances. This new law, which is part of the California Homeowner Bill of Rights, also gives a buyer of residential property foreclosed after 2007 an opportunity to correct substandard conditions. Starting January 1, 2013, if that buyer has purchased and is in the process of diligently abating any building standard violations, an enforcement agency cannot commence any action or proceeding for nuisance abatement for at least 60 days after the buyer takes title to the property, unless a shorter period is deemed necessary to prevent an immediate threat to health and safety. Also commencing January 1, 2013, any mortgage lender who releases a lien from a property with a recorded notice of pendency of action must notify the enforcement agency that issued the order within 30 days of releasing the lien. Source: AB 2314.

  • Protecting Military Servicemembers From Foreclosure: Starting January 1, 2013, the existing California protection for a servicemember against foreclosure by a mortgage lender during the period of military service or within three months thereafter, has been extended to nine months thereafter. Exceptions apply to sales made by agreement or court order. This law applies to mortgage loans originated before a servicemember’s period of military service for which the servicemember is still obligated. The nine-month period mirrors the foreclosure protection under the federal Servicemembers Civil Relief Act. However, President Obama recently signed into law the federal Honoring America’s Veterans and Caring for Camp Lejeune Families Act which extends, from February 2, 2013 to December 31, 2014, the foreclosure protection to one year after the period of active duty. Source: AB 2475 and H.R. 1627.


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Realegal® is published by the CALIFORNIA ASSOCIATION OF REALTORS®, a trade association representing more than 160,000 REALTORS® statewide.

Edited by: Stella Ling, stellal@car.org 

Executive offices:
525 South Virgil Ave., Los Angeles CA 90020
phone (213) 739-8200; fax (213) 480-7724

Legislative offices:
980 Ninth Street #1430, Sacramento CA 95814
phone (916) 492-5200; fax (916) 444-2033



Copyright © 2012 CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.)
 
 
 
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Mary "Peg" Heying
REALTOR® - CA DRE License # 01726709
Prudential CA Realty
890 W Washington St.
San Diego, CA 92103
Cell:  (619) 301-8589
Website:  http://www.realtorpeg.com/

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