There are 70 bank owned single family homes for sale in Walnut Creek, Concord, Clayton, Pleasant Hill, and Martinez today.  For a complete list, REOs Today.

Through the Housing Affordability Fund Mortgage Protection Program, first-time home buyers who lose their jobs due to layoffs may be eligible to receive up to $1,500 per month, for six months, to help make their mortgage payments. A qualified co-buyer also can participate in the program, and receive a monthly benefit of $750 per month for up to six months. Program benefits also include coverage for accidental disability and a $10,000 death benefit.

C.A.R.’s Housing Affordability Fund is dedicating $1 million toward its Mortgage Protection Program, and estimates that as many as 3,000 families will benefit from the program this year.

“The Mortgage Protection Program was developed to help ease the anxiety of consumers who are concerned about potential job loss and its impact on their ability to pay their mortgage should they purchase a home,” said C.A.R. President James Liptak. “It also provides peace of mind to those buyers who are actively searching for a home.”

To qualify for the Mortgage Protection Program, applicants must:
. Be a first-time home buyer – someone who has not owned a home in three or more years
. Open escrow April 2, 2009, or later, and close on or before Dec. 31, 2009
. Use a California REALTOR® in the transaction
. Purchase the property in California
. Be a W-2 employee (cannot be self-employed)

To apply for the program, home buyers must request an application for the H.A.F. Mortgage Protection Program from their REALTOR®.

Leading the way…® in California real estate for more than 100 years, the CALIFORNIA ASSOCIATION OF REALTORS® ( www.car.org) is one of the largest state trade organizations in the United States, with nearly 180,000 members dedicated to the advancement of professionalism in real estate. C.A.R. is headquartered in Los Angeles.

The CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) Housing Affordability Fund (H.A.F.) is a non-profit 501(c)(3) dedicated to addressing California’s housing crisis . It receives donations primarily from REALTOR® members and REALTOR® associations committed to addressing the housing problem in California. H.A.F. raises and distributes funds and partners with other groups to promote housing and homeownership and address housing opportunities locally and statewide.

There is an interesting article in SFGate, the online San Francisco Chronicle, regarding shadow foreclosure inventory. In a recent study, RealtyTrac compared its database of bank-repossessed homes to MLS listings of for-sale homes in four states, including California. It found a significant disparity - only 30 percent of the foreclosures were listed for sale in the Multiple Listing Service. The remainder is known in the industry as “shadow inventory.” Read more about “Banks aren’t reselling many foreclosed homes”.

The Contra Costa Association of Realtors is hosting a GreenWalk  and GreenFest at Heather Farms in Walnut Creek on June 14, 2009 to promote energy efficiency.  Learn the benefits of of going green with rebares, incentives, money-saving products and free green products.  There will be free recycling of paper shredding, cell phones, etc. 

This past year, the real estate landscape is incredibly different. For the first time in 50 years, the Bay Area real estate market can actually be less expensive to buy than rent. In addition, the government is paying you to own by giving first-time home buyers up to an $8,000 tax credit if you buy before December 1, 2009. 

Example of what first-time buyer with okay credit making $30,000 per year could qualify to purchase:  

• $160,000 sales price for single family home
• Total cash invested, $5,600 (3.5% down payment)
• Government will give back $8,000
• Total Principle, Interest, Taxes and Insurance = $1,140, 30 year fixed loan, 5%
• Buyer lives there for one year and decides to move on. He can rent the house out for $1,800 per month. Positive cash flow is $660 per month.

There are a total of 73 bank owned single family homes in Martinez, Concord, Pleasant Hill, Walnut Creek and Clayton today. AND 156 bank owned properties are pending in the same cities!   Click here for a list of the REOs in Central Contra Costa.

Please email jill@crueyhomes.com or call Jill at 925-207-8992 for a detailed list.

Short sales in Contra County are on the rise.  Today there are 114 short sale homes actively listed and 184 pending sales in Martinez, Concord, Pleasant Hill, Walnut Creek and Clayton.

Margalit Ir of the Bank of America spoke at the Contra Costa Realtors in Motion today regarding a loan protection feature offered by B of A.  The Borrowers Protection Plan can help safeguard against sudden income losses that can result from unexpected events, such as: disability, hospitalization, infoluntary job loss and loss of life.  This loan enhancement is available at no cost for one full year for one borrower for each eligible loan.

Find out how easy it is for protection of your home with Borrowers Protection Plan.  Please email Margalit Ir at Bank of America for more details:   margalit.a.ir@bankofamerica.com.

There are a total of 123 bank owned single family homes in Martinez, Concord, Pleasant Hill, Walnut Creek and Clayton today. AND 157 bank owned properties are pending in the same cities!  Check out the REOs in Contra Costa today.

Short sales in Contra County are on the rise.  Today there are 154 short sale homes actively listed and 120 pending sales in Martinez, Concord, Pleasant Hill, Walnut Creek and Clayton.