Tag Archive | "Market News"
Short sales and market time
Getting approval on a short sale on takes time. Lot’s of time. The layers of bank employee’s and companies involved in mortgage ownership can slow the approval process. Imagine a football team requiring all 11 offensive players, coaching staff and owner to agree on which play to call. The game would take [...]
Continue reading...Experience Counts In Foreclosure Buying
Friday, April 17, 2009
Many buyers make the mistake: “I know what I’m doing. I’ve bought several homes and buying a foreclosure home is no different.”The fact that bank owned homes are “as is” and have no disclosures should cause a buyer to pause and think. It is very important to have a trusted expert to take on some [...]
Continue reading...Today We Start This Short-Sale Blog
Friday, April 17, 2009
After several months of capitulation on whether or not to start this blog, we will be posting real-life stories and helpful information regarding the short sale process. Short selling a home has become commonplace in today’s real estate market. But we are finding there is much misinformation and misrepresentation. Hopefully, this blog will provide a [...]
Continue reading...Market Update For March – April
Wednesday, April 15, 2009
If you want to know the ‘real deal’ on the current real estate market, a recent sale in Olde Carlsbad illustrates the answer. A single level foreclosure home was listed for-sale the morning of Friday, April 19th. The first three agents were at the property at 8:30am to inspect and take pictures for their clients. [...]
Continue reading...Refinance Applications Up 41.5% Last Week
Wednesday, March 25, 2009
Applications filed to refinance an existing mortgage rose an unadjusted 41.5% last week from the week before after an announcement by the Federal Reserve caused fixed-rate mortgage rates to fall, according to the latest Mortgage Bankers Association survey results, released Wednesday. The 30-year fixed-rate mortgage averaged 4.63% last week, down from 4.89% the previous week, the [...]
Continue reading...Bernake predicts downward slide stops in 2009
Monday, March 16, 2009
This is from CBS News: Source: CBS NewsIn a rare on-record interview, Federal Reserve Chairman Ben Bernanke indicated that the recession could last most of 2009, then the U.S. economy will start to recover in 2010. “This [economic] decline will begin to moderate and we’ll begin to see [a] leveling off,” he said. “We won’t [...]
Continue reading...Less Short-sale’s seen in the future
Monday, February 23, 2009
President Obama unveiled his plan to help stabilize the housing market and keep millions of borrowers in their home. The homeowner affordability and stability plan includes an initiative that allows homeowners with less than 20% equity in their homes, or who owe more than their home is worth the ability to refinance their property. Under [...]
Continue reading...Mortgage Rates Plummet – 4.875% for 30 year fixed loans
Thursday, December 11, 2008
Just months ago, average rates for a 30-year fixed loan was at 6.25%. This is a tremendous push from the Treasury to stem the short-sale and foreclosure homes. We do not suggest buying because of rates, but it is rare for mortgage rates to be this low. This comes on the heels of the new [...]
Continue reading...A Buy Down: Making Foreclosure Property Even Less Expensive
Saturday, November 22, 2008
Whether you’re buying or selling In today’s real estate market, you need to know about what a ‘buy-down’. A ‘buy-down’ is an upfront payment on a mortgage loan that lowers the interest rate the loan. There are two types of buydowns: temporary and permanent. A temporary buydown will lower the borrowers payments for a set time [...]
Continue reading...New Loan Limits Have Little Effect On Foreclosure
Friday, November 21, 2008
The Federal Housing Finance Agency (FHFA) has now permanently increased the conforming loan limit rate in San Diego County to $546,250. This is a change from the limit of $697,500 set temporarily this year as part of a government stimulus package aimed at slowing the real estate decline. A conforming loan has a lower [...]
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Thursday, April 23, 2009
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