There are few, if any, real estate agents that will tell you that we are not at the bottom or at least bouncing along the bottom of the market. Yes things look desperate out there with the banking industry, however the simple fact is when the banks start to prolong the foreclosure process, the amount [...]
Real estate markets all over the nation are experiencing unprecedented change, but the Hottest 10 Buyers Housing Markets in 2008 are exceptions to the rule. The Hottest 10 markets have also undergone more changes as a result of the national housing crisis that is seeing most markets decline.
The Hottest 10 forecast in 2008 have regional [...]
The Industry definitely feels the pinch. Real estate agents are closing offices, cutting expenses, and turning away sellers who won’t set reasonable prices for their homes. Sometimes because lenders are being more cautious about whom they let borrow money so more people are failing to qualify for loans. This market correction has created a “survival of [...]
WASHINGTON, Nov 14, 2008 /PRNewswire via COMTEX/ — A press release issued yesterday by ForSaleByOwner.com contained inaccuracies and misleading statements about its ability to place unlisted for-sale-by-owner information on REALTOR.com, the official Web site of the National Association of Realtors(R) operated by Move Inc.
NAR and REALTOR.com are setting the record straight with the following clarifications:
[...]
ForSaleByOwner .com today announced that it has become the nation’s first “by owner” real estate website to enable home sellers to advertise their home on Realtor.com without appearing on a local Multiple Listing Service (MLS). This new direct access to Realtor.com follows the May 2008 settlement between the U.S. Department of Justice and the National [...]
This plan covers the possibility of working with 31 million mortgages worth a combined $5 trillion.
Eligibility may be determined by the following: Home owners must be 90 days or more late in their mortgage payments, owe at least 90% of their home’s current value, live in the home on which the mortgage was taken and [...]
Citigroup says it will expand its foreclosure prevention efforts and try to keep 130,000 troubled borrowers with $20 billion in mortgages in their homes. This follows the efforts of IndyMac Bank earlier this year, Bank of America and more recently JPMorgan Chase.
This double edged sword for banks seems to deliver the only option, refinance or completely [...]
We know investors have been standing on the sidelines, we know that a bank’s status changes almost daily on their ability to provide a mortgage loan, we know that cash has been accumulating in banks now that investors can put up to 250,000 into an FDIC banking institution now.
But to iterate where is the [...]
In the last 30 days, we have started to work our way through a global financial meltdown. The stock market had its biggest point drop ever in the stock market, followed by the biggest point gain. Next we concluded the longest running and historic political race, electing the first African American to be president of [...]
Yesterday we spoke of the new niche of selling foreclosures. Today I want to tell REALTORS to Watch Out. I spotted an ugly trend with some REO (real estate owned) listings that does not bode well for the industry.
Over the last several months because of the “Buyers” market commissions on properties had returned to the [...]
With home sales dying on the vine, real estate agents have been turning to foreclosures to survive these times.
Foreclosure listings, called REO “real estate owned” sales, are a growing trend for business sluggish real estate market. Real estate companies are also shifting whole segments of their business to REOs. Now we see more foreclosure sales [...]
Q: What’s your take on the local real estate market?
Foreclosures are through the roof. We’ve never experienced anything like what we’re going through now. It’s pretty bad.
Q: How does this compare to other downturns?
The most serious was 1973-74. With this one, I’ve talked to people who are really knowledgeable about the market. They say this [...]
When the Federal Reserve cuts rates here is a mini-explanation of what it means to you as a consumer.
1) Tame your expectations
If you’re in the market for a loan today, the rate cut won’t mean very much to you. Of course when the Fed cuts the federal funds rate, that directly influences the prime rate. [...]
“Shocktober” is led us to a marginally positive close but not without the pitfalls of a volatile month. Commercial real estate developers, owners and investors have lost faith in the market, according to an annual study by the National Association of Industrial and Office Properties. The survey of 243 participants found that sentiment about economic [...]
Qualified personal residence trust (QPRT) for older homeowners to give property to their children, while realizing big savings on gift and estate taxes. These allow homeowners to live in a property before passing it on to their children. By moving your home into a QPRT (often pronounced CUE-pert) when the value of your home is most likely [...]
In an unprecedented move, for the next 90 days, JPMorgan will not place any new homes into foreclosure. The company is working towards restructuring terms for 400,000 homeowners (approximately 70 billion of their current loan portfolio). This may be the first coordinated effort to restructure loan terms for individual borrowers.
Across the country, more Than 2.2 Million [...]
