default avatar
Welcome to the site! Login or Signup below.
Logout|My Dashboard

2013 looks to be a prosperous new year for real estate

Font Size:
Default font size
Larger font size

Posted: Saturday, January 5, 2013 12:00 am | Updated: 9:42 am, Fri Mar 29, 2013.

Peering into the future isn’t difficult. Predicting what’s actually going to happen is the problem. As we look ahead let’s peer through the lens of our leading economists, political leaders, and historical data to see what’s on the horizon for 2013.

With record low interest rates the California Association of Realtors is projecting a 1.3 percent increase in single family home re-sales and a 5.7 percent increase in the median price home for 2013. This is great news for our area! An area that has been hard hit and previously labeled as ground zero for the foreclosure market. It’s refreshing to know the light is at the end of the tunnel ... recovery is within our reach.

While Stockton has the highest U.S. foreclosure rate, it also has a housing shortage. The number of homes for sale in San Joaquin County fell 32 percent from Nov 2012 vs Nov 2011. Homes are selling like hot cakes! Most listings have multiple offers causing prices to continue to escalate.

Another positive note for investors is the temporary waiver of the FederalHousing Agency’s (FHA) “anti-flipping rule” for another two years. Theruling allows investors who acquire foreclosed properties to be exempted from waiting the customary 90 days before reselling them.

Late Tuesday night, Congress reached a settlement in the “fiscal cliff”negotiations. As a result, the Mortgage Forgiveness Debt Relief Act has been extended for another year. The measure will continue to exempt from taxation mortgage debt that is forgiven when homeowners and their mortgage lenders negotiate a short sale, loan modification (including any principalreduction) or foreclosure. Home owners are encouraged to consult with their own tax advisers about their tax situation.

With all this good news of course there are concerns. Few issues are more important to homeownership than the mortgage interest deduction (MID).While the housing market continues to recover, any change that reduces theability of the market to heal is misguided and must be rejected. Congresshas made direct references to “limiting deductions” as a way to raise revenues, and clearly, the MID is high on this list to avoid the “fiscal cliff.” The decision could be reached at any time, so it is vital that you respond to our nationwide call for action TODAY and urge your member of Congress to preserve the MID. You can call Congress at (202) 224-3121, Mon.-Fri., 9 a.m. - 6 p.m., EST. “We must remember that one determined person can make a significant difference and that a small group of determined people can change the course of history”.

As we anticipate a prosperous year filled with great expectations it’s my honor to serve as the president of our local association of Realtors. My goal is to help keep our communities, clients, and fellow Realtors informed and up to date on our current market. My hope is to serve you well in the role that the Lodi Association of Realtors has provided for the past 92 years.

Please feel free to contact me if you have any questions or concerns.

Sheri Aguilar is the president of the Lodi Association of Realtors and can be reached at Sheri@YourLocalAOR.com.

Rules of Conduct

  • 1 Use your real name. You must register with your full first and last name before you can comment. (And don’t pretend you’re someone else.)
  • 2 Keep it clean. Please avoid obscene, vulgar, lewd, racist or sexually oriented language.
  • 3 Don’t threaten. Threats of harming another person will not be tolerated.
  • 4 Be truthful. Don't lie about anyone or anything. Don't post unsubstantiated allegations, rumors or gossip that could harm the reputation of a person, company or organization.
  • 5 Be nice. No racism, sexism or any sort of -ism that is degrading to another person.
  • 6 Stay on topic. Make sure your comments are about the story. Don’t insult each other.
  • 7 Tell us if the discussion is getting out of hand. Use the ‘Report’ link on each comment to let us know of abusive posts.
  • 8 Share what you know, and ask about what you don't.
  • 9 Don’t be a troll.
  • 10 Don’t reveal personal information about other commenters. You may reveal your own personal information, but we advise you not to do so.
  • 11 We reserve the right, at our discretion, to monitor, delete or choose not to post any comment. This may include removing or monitoring posts that we believe violate the spirit or letter of these rules, or that we otherwise determine at our discretion needs to be monitored, not posted, or deleted.

Welcome to the discussion.

New energy program helps homeowners

The Lodi Association of Realtors in partnership with the California Association of Realtors Housing Affordability Fund and green home contractor Greener Solutions has just announced a new energy program starting Jan. 1, 2015.

Posted: January 23, 2015
Comments (0)
more »

Loan Calculator

Your News

News for the community, by the community.

Mailing List

Subscribe to a mailing list to have daily news sent directly to your inbox.

  • Breaking News

    Would you like to receive breaking news alerts? Sign up now!

  • News Updates

    Would you like to receive our daily news headlines? Sign up now!

  • Sports Updates

    Would you like to receive our daily sports headlines? Sign up now!

Manage Your Lists