Our network

Real Estate

Life Under Water is a Booming Metropolis!

Life Under Water is a Booming Metropolis!

Things have settled down it seems with regard to struggling homeowners, loan modifications that never seem to come, short sales and foreclosures. Rest assured the struggles are not over. Just because the news is not reporting to the degree they have in years past does not mean homeowners are not grappling with what to do about the plummeting values of their homes versus the higher dollar values they still owe – life underwater is a booming metropolis!

Most of the people I speak with are angry and simply tired of struggling. They are angry that not a single banking executive has been held accountable for the corruption and deceit in the collapse of the mortgage industry and they are out of options to keep the house they love.

Where's the Relief?

Where's the Relief?

By now, we’ve all heard the news, “CA and NY have joined the multi-state mortgage settlement.” As a real estate and mortgage professional, I did (legal) loan modifications for nearly four years and I can assure you, California joining this lawsuit will do little to help California home owners struggling to keep their homes.  

Let’s look at the facts, the most important one being that CA has six out of the top ten cities in the nation hardest hit by declining home values (Modesto (4), Merced (5), Stockton (7), Riverside (8), Bakersfield (9), and Vallejo/Fairfield (10), with many of them 30-50% underwater.

The bottom line is this, a $20,000 principal forgiveness is not nearly enough to help balance out the numbers from underwater to break-even.

Two of Lyon Real Estate's Sierra Oaks office agents help earn share of $14,000 for local charties

Two of Lyon Real Estate's Sierra Oaks office agents help earn share of $14,000 for local charties

Lyon Real Estate announced today the winners of its inaugural Lyon Cares philanthropy award. Lyon agent Kim Pacini Hauch of the Sierra Oaks office earned $3,000 for Maryhouse, Teresa Lynch of Lyon’s Folsom office earned $2,000 for her charity of choice - the Grace Foundation and Nancy Reid also of the Sierra Oaks office earned $1,000 for Breakthrough Sacramento.

The Lyon Cares Award is a monetary donation made to local organizations as voted on exclusively by Lyon agents and employees. Agents and staff nominated local organizations that they were either members of or active volunteers with. The 60 nominations that were received were then narrowed down to the three finalists by a committee and the 1st, 2nd and 3rd place winners were determined by a vote of all Lyon Real Estate agents and employees.

42.8 percent of residential properties with a mortgage underwater in Sacramento area

42.8 percent of residential properties with a mortgage underwater in Sacramento area

SANTA ANA, Calif., March 8, 2011— CoreLogic (NYSE: CLGX), a leading provider of information, analytics and business services, today released negative equity data showing that 11.1 million, or 23.1 percent, of all residential properties with a mortgage were in negative equity at the end of the fourth quarter of 2010, up from 10.8 million, or 22.5 percent, in the third quarter. The small increase reflects the price declines that occurred during the fourth quarter and led to lower values. An additional 2.4 million borrowers had less than five percent equity, referred to as near-negative equity, in the fourth quarter. Together, negative equity and near-negative equity mortgages accounted for 27.9 percent of all residential properties with a mortgage nationwide.

Negative equity, often referred to as "underwater" or "upside down," means that borrowers owe more on their mortgages than their homes are worth.