Yuba City Real Estate » Local News

Veterans clinic proposed in Yuba City

Christy Bosanek — Sun, 19 Dec 2010 22:33:22 +0000

Veterans clinic coming to Yuba City. Coldwell Banker Commerical Valley Brokers successfully brokered the land acquisition for a Veterans clinic on Plumas Street with opportunity for lease space coming in 2011. For more information contact Greg Quilty at 530.673.6614. www.cbcyc.com
Check out the full article Veterans clinic proposed in Yuba City | city, clinic, yuba – Local News – Appeal-Democrat.

Foreclosure rates rise in both Yuba-Sutter County

Christy Bosanek — Tue, 02 Nov 2010 23:07:48 +0000

The number of notices of default, which is the first step in the foreclosures process, has fallen in both Yuba and Sutter County from a year ago. However, the number of defaults recorded from the previous quarter of 2010 is up 38% and 15% for Yuba and Sutter County, respectively.

Homes lost to foreclosure in Yuba and Sutter County was down 3.6% in Yuba County, but up 7.2% in Sutter from a year ago. Homes lost to foreclosure rose in both counties from the previous 2010 quarter.

Notices of Default (first step in foreclosure process)
County	2009 Q3	2010 Q3	Yr/Yr %	2010 Q2	Qr/Qr %
Yuba	312	282	-9.6%	173	38%
Sutter	403	282	-30.0%	239	15%
Trustees Deeds Recorded ( homes lost to foreclosure)
Yuba	196	189	-3.6%	181	4.2%
Sutter	152	163	7.2%	154	5.5%
Statewide	111,689	83,261	-25.4%	70,051	19%

What does this mean? Here is my breakdown of the data.

First, the number of distressed homeowners in Yuba and Sutter County continues to rise. It also appears that the rate at which banks are foreclosing is increasing. Those homes that do go all the way to foreclosure are probably homeowners that were not able to work out a loan modification or short sale.

We could see the number of foreclosed homes on the market rise over the next few quarters bringing home prices down further. However, the faster we can work through the inventory of distressed homes the sooner we can return to some normalcy in the housing market and possibly return to the days of rising homes values.

Source: DataQuick Infomation Systems.

Why Sutter County Residents should vote “YES” on Proposed Flood Assessment

Christy Bosanek — Tue, 25 May 2010 05:09:11 +0000

By now Sutter and Butte Counties property owners should have received a ballot for a proposed assessment for critical levee repairs. If approved, the assessment will help to pay for 44 miles of levee repairs along the west bank of the Feather River. The State is expected to pay 71% of all construction costs with bond funds dedicated to levee improvements. An annual assessment on properties will help pay the required local cost share.

The Sutter Butte Flood Control Agency (SBFCA) wants to fix levees by 2015 and reduce flood risk. The project will save property owners tens of millions each year in mandatory flood insurance costs, maintain the rights of homeowners to improve property without costly restrictions, and sustain the local economy.

Get the FACTS Before You Get Your Ballot!

FACT: Levees do not meet federal standards for 100-year flood protection.

FACT: Most of Sutter County and large portions of Butte County – are scheduled to be “remapped” by the Federal Emergency Management Agency (FEMA) as Special Flood Hazard Areas.

FACT: Until levees are repaired, property owners with mortgages will be required to purchase higher-cost flood insurance.

FACT: Property owners who want to sell their homes will be required to notify buyers of the requirement to purchase flood insurance.

FACT: Until levees are repaired, strict building codes will be in place, making it more costly for property owners to improve or replace structures.

FACT: Property owners do not get to vote on mandatory flood insurance.

Click to Look Up Your Proposed Assessment

Learn More!

Visit www.sutterbutteflood.org to look up your proposed assessment and get the latest information, news and meeting dates. Questions? Call SBFCA’s hotline at 530-870-4425.

What Sutter County Residents Need to Know About the Proposed Assessment for Levee Repairs

Christy Bosanek — Fri, 23 Apr 2010 19:08:46 +0000

On or about May 1, more than 30,000 property owners in Butte and Sutter Counties will receive a ballot for a proposed assessment for critical levee repairs. If approved, the assessment will help to pay for 44 miles of levee repairs along the west bank of the Feather River. The State is expected to pay 71% of all construction costs with bond funds dedicated to levee improvements. An annual assessment on properties will help pay the required local cost share.