Real Estate Information

    Beginning April 5, the Obama administration will encourage delinquent borrowers to avoid foreclosure and instead give up their homes in short sales by streamlining the process.  The program will offer cash payment to the homeowner, as well as to the servicer and second-lien holder; and protect borrowers from future lender lawsuits for the unpaid mortgage balance.  To curtail fraud, lenders will have to consult real estate practitioners to assess home value and minimum acceptable offer; they then must accept any offer that is equal to or higher than that.
 

WHEN THINGS GO SMOOTHLY, most real estate agents will do.  When things go awry, happiness is having The Schaller Family backing you.     http://www.truckeehomefinder.com

A discussion on the short sale process. Your comments are always appreciated.

Kane Schaller
kane@schallers.net
530-550-5009

Trading the 6 month of snow and ice and white, white, white  for sun is good for the soul.  To breath flowers, lawn and citrus and maybe play a little golf let's us know that yes, there is a spring time coming.  If it's baseball you cherish, spring training is only a half hour away.   You are courduly invited to visit the get-a-way at:

http://tahoehometours.com/tour.asp?tour=2006WPeninsula

Some thoughts on why Tahoe Donner is such a great buy in the Truckee area. Your comments are always appreciated.

Kane Schaller
kane@schallers.net
530-550-5009

      President Obama and his administration are floating an idea to prohibit lenders from foreclosing on a home unless the borrower has been considered for the government's Home Affordable Modification Program (HAMP).  The proposal would require servicers to initiate contact with all borrowers who are 60 or more days behind on their mortgage payments and offer them access to the federal modification program. Only after the homeowner has been screened under the HAMP guidelines and it is determined that the loan cannot be saved, could foreclosure proceedings commence. The proposal would also halt any foreclosures already in process once a borrower has been accepted into the trial phase of the program.

    The proposal was reviewed by lenders last week on a White House conference call and "prohibits referral to foreclosure until the borrower is evaluated and found ineligible for HAMP or reasonable contact efforts have failed," Bloomberg News reported, citing a Treasury Department document outlining the plan.  A Treasury spokesperson confirmed that a foreclosure ban is under consideration, but stressed that it is one of many ideas on the table and has not been approved yet.

WHEN THINGS GO SMOOTHLY, most real estate agents will do.  When things go awry, peace of mind is having The Schaller Family backing you.     truckeehomefinder.com 

A brief discussion on the availability of 100% financing when purchasing a home. Your comments are always appreciated.

Kane Schaller

kane@schallers.net

530-550-5009

      Billionaire Warren Buffett said the U.S. residential real estate slump would end by about 2011, predicting that's how long it will take demand for homes to catch up with the supply.  "Within a year or so, residential housing problems should largely be behind us," Buffett wrote Feb. 27 in his annual letter to shareholders of his Berkshire Hathaway Inc. "Prices will remain far below 'bubble' levels, of course, but for every seller or lender hurt by this there will be a buyer who benefits."
                                         

     The worst housing decline since the Great Depression has left one in five U.S. mortgage holders owing more than their houses are worth. Record foreclosures last year flooded a real estate market already glutted with unsold property, causing new construction to fall to the lowest in at least 50 years. The fall in homebuilding is the only fix unless the U.S. decides to "blow up a lot of houses," Buffett joked.  "People thought it was good news a few years back when housing starts -- the supply side of the picture -- were running about two million annually," said Buffett, the chairman and chief executive officer of Omaha, Nebraska-based Berkshire. "But household formations -- the demand side -- only amounted to about 1.2 million."

    EXPERIENCE  -  IT TAKES YEARS TO GAIN.  55 collective years selling Tahoe Donner homes, the Schaller Family has that experience.    truckeehomefinder.com

Total Construction spending during January 2010 was estimated at a seasonally adjusted annual rate of $884.1 billion, 0.6 percent below the revised December estimate of $889.6 billion. The January figure is 9.3 percent below the January 2009 estimate of $974.3 billion. Spending has declined in 21 of the last 25 months. This is the third straight month of contraction and the lowest level since June 2003.
 
Source: CNNMoney.com

A NEEDLE IN A HAYSTACK?  Not really.  The Schaller’s find those special homes every day.  truckeehomefinder.com