Added by Susan J. Penn, PA, SFR on January 31, 2011 at 8:30pm — No Comments
Last week, thanks to my awesome Broker, Steve Daria, I attended a "Get Motivated Seminar," which was widely promoted and sold-out both days. Top billed speakers were Colin Powell, Rudy Giuliani, Zig Ziglar, & Laura Bush. Admiring the accomplishments and professional philosophies of each, I signed right up. Each presentation was, as anticipated, excellent, entertaining, and informational. More than that, each was inspirational. These four, along with three other guest…Continue
MARKET COMMENT Mortgage bond prices rose last week pushing mortgage interest rates lower. There were several Treasury auctions and most resulted in decent foreign demand. Stock strength the middle of the week along with higher than expected new home sales put some upward pressure on rates. Volatile oil prices also factored into trading. Saudi remarks indicated they might increase production. This helped stem some of the oil price spikes in the middle of the week but world benchmark…Continue
Added by Kenneth Bargers on January 31, 2011 at 11:10am — No Comments
Pending home sales improved further in December, marking the fifth gain in the past six months, according to the National Association of Realtors®.
The Pending Home Sales Index,* a forward-looking indicator, increased 2.0 percent to 93.7 based on contracts signed in December from a downwardly revised 91.9 in November. The index is 4.2 percent below the 97.8 mark in December 2009. The data reflects contracts and not closings, which normally occur with a lag time of one or two…Continue
Added by Kenneth Bargers on January 29, 2011 at 9:41am — No Comments
Why does a third party like Equator only look at one offer at a time? I have a client that submitted an offer in November 2010. It is the second of two offers and from what I can gather our offer is the higher of the two. Realtors have to be fair with multiple offers why aren't banks and third parties held to the same standards?
Most homeowners in financial trouble do not realise the impact of filing a bankruptcy has on the ability to Short Sale their owner occupied home. The public also needs to make certain when making these kind of decisions, that they are aware of the ratio that the Lawyer does that is a Chapter 13, VS a Chapter 7!
Some Lenders will not allow a short sale once a Bankruptcy is filed. Lynne Wright-Colorado
MARKET COMMENT Mortgage bond prices started in negative territory and that carried through most of the week. Spain and Portugal had relatively successful bond auctions, which reversed the flight to quality buying of US debt instruments that helped rates fall. Lower than expected weekly jobless claims Thursday added to the losses causing rates to spike higher. Analysts were looking for jobless claims at 425k and the actual release showed claims at 404k. Leading economic…Continue
Added by Kenneth Bargers on January 24, 2011 at 11:33am — No Comments
I have a friend who sold their home 5 months ago on a short sale. The first mortgage was satisfied but the line of credit was short $360,000. A promissory note was signed at closing in order for the bank to close the deal. He does not have the ability to pay this off. He has offered to pay $25,000 immediately and they have rejected his offer and said he needs to come up with 12% to settle.
Does anyone have an experience with after closing negotiations? All help would be…Continue
Glendale, CA Real Estate – Jennifer Escobar a Realtor at Qwest Real Estate recently received a question from Luis…Continue
Added by Jennifer Escobar on January 20, 2011 at 10:47pm — No Comments
Due to the current economy, I, like most Realtors, have had to deal mainly with short sales. I kee reading all these hopeful articles detailing how much the short sale process has improved when, in reality, it is barely better than it was a year ago. Sure, B of A has started their Equator.com, and Chase actually lets you talk to real people instead…Continue
Added by Michele Ashbarry on January 20, 2011 at 12:42pm — No Comments
KEEPING YOUR HOME IN CALIFORNIA
The U.S. Treasury Department has approved CalHFA's plan to use nearly $2 billion in federal funding to help California families struggling to pay their mortgages.
The Keep Your Home California programs are focused on assisting low and moderate income families to stay in their homes, when possible, and…Continue
Added by Michele Ashbarry on January 18, 2011 at 8:30pm — No Comments
MARKET COMMENT Mortgage bond prices started the week in positive territory. We were able to establish some interest rate improvements as flight to quality buying emerged heading into some European debt auctions. Unfortunately there was a spike in rates the middle of the week as the buying reversed following an announcement by Japan that they would support the European markets. Higher than expected weekly jobless claims Thursday helped reverse this spike and enabled rates to fall. We…Continue
Added by Kenneth Bargers on January 17, 2011 at 4:59pm — No Comments
Added by Jennifer Escobar on January 14, 2011 at 5:30pm — No Comments
Glendale CA – Jennifer Escobar of Qwest Real Estate recently received a question from Jessica.
Here is Jessica’s Question.…Continue
Added by Jennifer Escobar on January 14, 2011 at 5:00pm — No Comments
Added by Cindy Gillies on January 14, 2011 at 3:35pm — No Comments
Added by Reva Harris on January 14, 2011 at 2:13pm — No Comments
First, some key terms under the new rule.
• A “provider” includes any person who provides, offers to, or arranges for others to negotiate, obtain or arrange a short sale of a dwelling.
• A “dwelling” means a residential structure containing four or fewer units, whether or not that structure is attached to real property, that is primarily for personal, family, or household purposes and includes individual condominium units, cooperative units,…
Added by Andrew Sawyer on January 13, 2011 at 4:31pm — No Comments
What are the most overvalued and undervalued housing markets in the country? The Local Market Monitor recently released a list for investors analyzing buying conditions for real estate markets in the United…Continue
Added by Kenneth Bargers on January 12, 2011 at 10:45am — No Comments
MARKET COMMENT Mortgage bond prices started the week in negative territory. The ADP employment report was significantly stronger than expected sending rates higher. There were few data releases. Stocks started the New Year generally stronger, which added to the losses in…Continue
Added by Kenneth Bargers on January 10, 2011 at 10:42am — No Comments