Perennial ryegrass and drought-tolerant fescue are grass types that need less watering and chemical care. Use a healthy layer of mulch to reduce weed growth, retain moisture in the soil, and keep roots cool, which lessens the strain on the community’s water supplies.

The Federal Housing Finance Agency announced this week a one-year extension of the Home Affordable Refinance Program (HARP), a refinancing program administered by Fannie Mae and Freddie Mac. The program was set to expire on June 30 of this year. Additionally, Fannie Mae and Freddie Mac will make the following adjustments to their programs: Freddie [...]

Foreclosure filings in California dropped to levels not seen since late 2008 when governmental intervention temporary slowed the foreclosure filing process, according to a report from ForeclosureRadar. Notice of Default filings declined 12.8 percent month-over-month and Notice of Trustee Sale filings decreased 12.5 percent from the prior month. On a year-over-year basis, Notice of Default [...]

The California Composite Index of Consumer Confidence declined to 88.7 in February compared with a reading of 90.5 in November of 2010. An index level below 100 reflects a higher percentage of pessimistic consumers compared with those who are optimistic. In contrast, the survey of consumer confidence at the national level conducted by the University [...]

Fixed mortgage rates tumbled this week and the 15-year loan dipped below 4 percent for the first time in three months. Rates followed the yield on U.S. Treasury bonds, which fell on worries that the crisis in Japan could slow economic growth. Freddie Mac said Tuesday the average rate on the 15-year fixed mortgage, a [...]

Following three months of sales gains, California home sales posted a weaker-than-expected performance and declined in February, according to data from the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.). The statewide median price of an existing, single-family detached home sold in California also declined in February. Closed escrow sales of existing, single-family detached homes in California totaled [...]

Fannie Mae recently announced the launch of KnowYourOptions.com, a new consumer education Web site outlining the choices available to homeowners struggling to meet their mortgage obligations. The online resource, which offers information in both English and Spanish, provides guidance on how borrowers can contact and work with their mortgage servicer to find solutions. Key features [...]

The Federal Housing Administration (FHA) recently provided details on its “FHA Short Refinance” program that will enable lenders to provide additional refinancing options to underwater homeowners. Beginning Sept. 7, the FHA is offering eligible underwater non-FHA borrowers the opportunity to qualify for a new FHA-insured mortgage. Participation in FHA’s refinance program is voluntary and requires [...]

The Obama Administration recently announced additional support to help homeowners struggling with unemployment through two targeted foreclosure-prevention programs–the existing Housing Finance Agency (HFA) Innovation Fund for the Hardest Hit Housing Markets and the soon-to-be-launched U.S. Dept. of Housing and Urban Development (HUD) Emergency Homeowners Loan Program. Through the Hardest Hit program, California will receive an [...]

Calif. median home price: June 2010: $311,950 Calif. highest median home price by C.A.R. region June 2010: Santa Barbara So. Coast $914,760 Calif. lowest median home price by C.A.R. region June 2010: High Desert $125,620 Calif. First-time Buyer Affordability Index – First quarter 2010: 66 percent Mortgage rates: Week ending 7/29/2010 30-yr. fixed: 4.54 Fees/points: [...]