These pages contain a list of properties that are owned by the Department and are currently for sale. All of the properties listed are repossessions and may include single family residences, condominiums and planned unit developments, farms, land, mobile homes on land, and mobile homes in parks. There are no multiple unit properties, as the Department does not lend on them. In these pages, highlighted words link to other CalVet pages.
How the Program Works
Eligible Single Family homes located in revitalization areas are listed exclusively for sales through the Good Neighbor Next Door Sales program. Properties are available for purchase through the program for five days.
If you can’t afford your mortgage payment and it’s time for you to transition to more affordable housing, the Home Affordable Foreclosure Alternatives (HAFA) program is designed for you. HAFA provides two options for transitioning out of your mortgage: a short sale or a Deed-in-Lieu (DIL) of foreclosure. In a short sale, the mortgage company lets you sell your house for an amount that falls “short” of the amount you still owe. In a DIL, the mortgage company lets you give the title back, transferring ownership back to them.
Governor Arnold Schwarzenegger signed Senate Bill 94 (Calderon) which prohibits any person, including real estate licensees and lawyers, from demanding, charging, or collecting an advance fee from a consumer for loan modification or mortgage loan forbearance services. IF YOU ARE APPROACHED BY ANY PERSON REQUIRING UP FRONT FEES FOR THESE SERVICES DO NOT PAY THEM.
While northern Nevada (areas like Reno-Sparks) might be seeing a slight resurgence in home sales, the same cannot be said of the south. Las Vegas and the surrounding areas have actually seen an increase in empty homes. Currently, there are almost 170,000 vacant homes in southern Nevada, almost twice the number of empty homes in 2000 (during the last census).
Florida has a long history with expensive real estate. Even property located inland can be quite pricey, much less that found along the state’s massive amount of coastline. All that cost equates to a huge potential for foreclosures with the real estate industry in shambles. Florida actually has one of the highest rates of foreclosure in the nation. However, it seems that at least one law firm handled those foreclosures improperly, and now is being forced to pay $2 million in penalties.
The City of Brotherly Love might have just gotten a little less loving. The city recently voted to institute a new property assessment process to calculate property taxes throughout the area. In 2010, the city collected $1 billion in property taxes. The new assessment method will bump that up by $200 million or so. However, don’t expect everyone to be taxed equally.
According to a recent Deutsche Bank report, the following cities, among a few others, offer affordable homes to potential buyers: Atlanta: With the monthly rent of around 50 per cent more than average after-tax mortgage, Atlanta tops the list of cities for the most affordable housing. Despite the fact that it is now the most [...]
According to the US real estate industry, the commercial real estate market is on the path to recovery. A modest rise in rent has been forecast for the national market in 2011. In 2012, the job market is expected to improve and the real estate market will pick up pace.
The real estate market has been struggling along for quite a few years now, with foreclosures and low home prices everywhere. However, the economy is beginning to recover, albeit slowly. A new study from PwC actually points to greater confidence in the real estate market during 2011. Will this be the year of the “big turnaround”? Experts say it’s possible, but don’t bank on it. Even if there is a turnaround, it will be a gradual process. The damage done in the past decade cannot be reversed in just a single year.
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