Gevon Polgar - Real Estate

California pending home sales rose in June Pending home sales in California rose in June, according to C.A.R.’s Pending Home Sales Index (PHSI)*. The index was 119.0 in June, an increase of 1.9 percent from May’s revised index of 116.8, based on contracts signed in June. The index also was up 4.4 percent from June 2010. Pending home sales are forward-looking indicators of future home sales activity, providing information on the future direction of the market. “Pending home sales have improved in the last couple of months and the next few months should bring continued gains,” said C.A.R. President Beth L. Peerce. “So much depends on the direction of the economy going forward. As for the makeup of the market, distressed sales continue to be a significant part of the market with the split between short sales and REO sales varying greatly across the state.” The total share of all distressed property types sold statewide was unchanged in June from May’s revised 47 perc

LAW AGAINST SHORT SALE DEFICIENCIES EXPANDED In a major victory for REALTORS®, Governor Brown signed into law today a C.A.R.-sponsored bill, Senate Bill 458, prohibiting a deficiency after a short sale for one-to-four residential units, regardless of whether the lender is a senior or junior lienholder. Effective immediately for transactions closing escrow from this day forward, both senior and junior lienholders cannot require a borrower to owe or pay for a deficiency in a short sale. This law also prohibits any deficiency judgment to be requested or rendered for senior or junior liens after a short sale of one-to-four residential units. Any purported waiver of this rule shall be void and against public policy. Although a lender cannot require a borrower to pay any additional compensation in exchange for a short sale approval, the new law does not prohibit a borrower from voluntarily offering a monetary contribution to a lender in hopes of obtaining a short sale. A lende

www.ci.mountainhouse.ca.us July 14, 2011 FAMILY MOVIE NIGHT IN CENTRAL PARK The Youth Action Advisory Committee (YAC) is hosting a Family Movie Night at Central Park on Friday, July 15, 2011. This event is free. The YAC plans to sell popcorn, candy and soda. The schedule is as follows: 6:45 Concession stand opens 7:00 Live entertainment by one or two local violin teachers. Movie Themed Music. 7:20 Double Feature night! 30-40 minute video of local events/people. 8:00 Feature presentation - "Jack and the Beanstalk" (Rated G) Bring family & chairs or blankets and plan on a great evening under the moon! If you have any questions or would like more information, please contact Director Tingle at btingle@sjgov.org or Director Farron at cfarron@sjgov.org .

SACRAMENTO – California housing production rose sharply in May and posted the highest monthly permit total for the year on the strength of the multifamily sector, the California Building Industry Association announced today. According to statistics compiled by the Construction Industry Research Board (CIRB), permits were pulled for 4,630 total housing units in May, up 42 percent from the same month a year ago and up 28 percent from April. Permits for single-family homes totaled 1,908, down 7 percent from May 2010 and down 6 percent from the previous month, while multifamily permits totaled 2,722, up 124 percent from a year ago and up 71 percent from April. For the first five months of the year, permits were pulled for 18,120 total units, up 6 percent when compared to the first five months of 2010 when 17,050 permits were issued. Permits for single-family homes were down 17 percent while permits for multifamily units were up 45 percent. Mike Winn, CBIA’s President and CEO, said th