Lawrence Yun, Senior Vice President and Chief Economist, NAR gives an overview on video of the economic environment and its implications for real estate. Lawrence Yun, economist believes that the real estate market is stabilizing especially in certain areas such as homes for sale in California including the California Bay Area. An example of this would be Homes for sale in Fremont Ca have increased by about 50% which has caused active inventory to decreased thus stabilizing prices. Enjoy the video below

National Association of Realtor Market Update

View 1000’s of foreclosed properties on line at http://www.BayArea-Homes.com

Obama Unveils Homeowner Affordability and Stability Plan that will help purchasers buy homes in the US including the California Bay Area. California Bay Area including Fremont CA is one of the most expensive place to live.

President Obama unveiled his plan to help stabilize the housing market and keep millions of borrowers in their homes. (more…)

The New Stimulus Package & How It Affects Buying A Home In California Bay Area including Fremont CA?

Stimulus Package, Tax Credit for Home buyers ,

This plan will help many real estate home buyers but buying a home Fremont CA surrounding cities or the California Bay Area, could be limited due to the expense of the area.
First-time homebuyers who purchase homes from the start of the year until the end of November 2009 may be eligible for the lower of an $8,000 or 10% of the value of the home tax credit. Remember a tax credit is very different than a tax deduction – a tax credit is equivalent to money in your hand, as opposed to a tax deduction which only reduces your taxable income.
The tax credit starts phasing out for couples with incomes above $150,000 and single filers with incomes above $75,000. Buyers will have to repay the credit if they sell their homes within three years.

Stimulus Package, Tax Credit Versus Tax Deduction
It’s important to remember that the $8,000 tax credit is just that… a tax credit. The benefit of a tax credit is that it’s a dollar-for-dollar tax reduction, rather than a reduction in a tax liability that would only save you $1,000 to $1,500 when all was said and done. So, if a homebuyer were to owe $8,000 (more…)

Click on the link below to view housing statistics for Fremont California. The chart will show average days on the market, median single family home price for the last 12 month, number of active listings and more in Fremont Calif. If you would like statistics for any other Bay Area real estate city including Santa Clara county and Alameda county, email me at sandi@bayarea-homes.com or visit Http://www.bayarea-homes.com

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Assembly Bill 885 would make home owners of real estate in California with septic systems have to have them tested every 5 years at a cost of around $325.00 wether or not the septic is near a body of drinking water.

If the septic fails the test, owner will be forced to retrofit the system at an estimated cost of $45,000 with all the new required upgrades. (more…)