Gevon Polgar - Real Estate

www.ci.mountainhouse.ca.us August 25, 2011 El Paseo at Central Park this Saturday, August 27, 2011 El Paseo is the mid-summer event that brings the Mountain House community together for a great evening of music and wine. The Main Street Music All Star Jazz will be performing with special guest, Zakiya Hooker, daughter of the late great blues legend, John Lee Hooker. Food and wine vendors will be available, as well as an interactive musical instrument museum for children. Dogs are welcome at this time, provided they are kept on a leash at all times. This rule is strictly enforced in order to maintain an enjoyable and safe event. What: El Paseo When: Saturday, August 27, 2011 Where: Central Community Park Time: 5pm - 8pm See you there! .

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...

Mortgage rates leveled off this week at or near their lows for the year after declining for eight consecutive weeks, Freddie Mac said in releasing the results of its latest Primary Mortgage Market Survey . Low rates appear to have sparked interest in both refinancing and home purchases, according to a separate survey of loan applications conducted by the Mortgage Bankers Association. Freddie Mac's survey showed rates on 30-year fixed-rate mortgages, which last week hit a low for the year of 4.49 percent, averaging 4.5 percent with an average 0.7 point for the week ending June 16. Rates on 30-year fixed-rate mortgages hit an all-time low in Freddie Mac records dating to 1971 of 4.17 percent during the week ending Nov. 11, 2010, before rebounding to their 2011 high of 5.05 percent in February. Rates on 15-year fixed-rate mortgages averaged 3.67 percent with an average 0.7 point -- a new 2011 low, but essentially unchanged from 3.68 percent last week. Rates on 15-year mortgage...

As home prices fall and rents rise, some investors are plunking their money into real estate, chasing the cash flow that comes along with becoming a landlord. “For the first time in a long time, you can buy that home and can get a cash-on-cash return immediately,” said William King, director of valuation services for Veros Real Estate Solutions, a supplier of housing data to the country’s largest banks, as well as government organizations. “There are a lot of places in the country where an investor can buy a single-family home, rent it, and get a positive cash flow.” In fact, investors bought 20% of all the homes sold in April, according to the National Association of Realtors. Some of them are buying with cash. But even if they do finance part of the purchase, they’re able to turn around a profit much quicker than they would have been able to in the past, King said. And the return on rentals can be much better than returns on other investments these days, he added. ...