February 2011 Blog Posts (30)

Market Comment for Week of February 28, 2011...

MARKET COMMENT   Mortgage bond prices rose last week helping mortgage interest rates fall. Turmoil in many of the oil producing countries sent oil prices skyrocketing higher. Normally rising energy prices cause inflation fears but we are not in normal times. Rising energy prices ignited concerns about the global economic recovery and sent a wave of buying into US debt instruments. Data was mixed. Weekly jobless claims and new home sales were lower than expected while consumer…

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Added by Kenneth Bargers on February 28, 2011 at 10:34am — No Comments

Two executed contracts but not submitted to the bank

I have two signed contracts by my client, seller, one is higher than the other; I haven’t submitted any because of technical issues; would I violate any rule if I just submit the highest to the lender and ignore the lowest one? This is the first coming in. Can somebody advise?

Added by Carlos Vasquez on February 27, 2011 at 3:56pm — 5 Comments

When is a good time to sell my home?

Here are some reasons why you should  sell your property right now. Housing market goes up and down just as stock market. But, over a longer term, it still goes up. If you don’t have to sell your property, but you sell it now because of your fears, you’ll lose. If you are facing a situation such as foreclosure, find an agent who is experienced in these kind of situations.  Find an agent who has the time and willingness to work with your bank, attorneys,…

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Added by Fajardo Delalcruz on February 24, 2011 at 2:56pm — No Comments

Market Comment for Week of February 21, 2011...

MARKET COMMENT   Mortgage bond prices rose last week helping mortgage interest rates fall. Weaker than expected industrial production data helped start the week on a positive note for lower rates. Retail sales rose 0.3%, weaker than the expected 0.5% increase and very bond friendly. We were very fortunate to have rates hold mid week despite higher than expected core inflation at the producer and consumer levels. Inflation readings finally started to show what most analysts and…

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Added by Kenneth Bargers on February 21, 2011 at 11:11am — No Comments

Selling you House? 5 Reasons to Do it Now!

 

Selling Your House? 5 Reasons To Do It NOW!

by The KCM Crew on February 15, 2011



The conventional wisdom when selling a home has always been to wait until the ‘Spring Buying Season’. Over the years, that has seemed to make sense and is now accepted as a good strategy for those who want to sell their house and receive the best possible price. This real estate market has shattered many previously held beliefs. The wisdom of waiting for a spring market is another belief…

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Added by Kathryn Lovell on February 15, 2011 at 2:20pm — No Comments

Homeowner Saved by American Homeowner Preservation -Henderson, NV

Just last week American Homeowner Preservation saved another homeowner from being foreclosed on and allowed him to keep his home.
Jerry from Henderson, NV was so pleased he had this to say about AHP:

        "We had a very high loan principal, $837k, and could not afford to make more the $6k payments anymore. By sheer luck I…

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Added by Jorge Newbery on February 15, 2011 at 9:57am — 1 Comment

Wells Fargo Short Sale caused by World Savings "Scam" Loans

How can a Homeowner stay in their Home when they feel "TRAPPED" by the

BANKS?  The original loans were the World Savings Scam Adjustable Loans

but Wells Fargo has taken them over and then refuses to turn them into GOOD,

NORMAL LOANS~!!!

 

Added by Jay Grossman on February 14, 2011 at 6:31pm — 3 Comments

Market Comment for Week of February 14, 2011...

MARKET COMMENT   Mortgage bond prices fell last week pushing mortgage interest rates higher. The Treasury auctions were mixed. The 3YR auction showed weak foreign demand and resulted in a sell off following the results. The 10YR auction was decent and helped keep things in check while the 30YR auction didn’t move the market much. Weekly jobless claims came in at 383k, lower than the expected 410k. That data pressured rates higher. There were some positive movements Friday morning…

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Added by Kenneth Bargers on February 14, 2011 at 10:50am — No Comments

Representing a licensee in their own short sale transaction

There is a good reason for non-arms length and it goes beyond the usual concerns for fraud potential or over charging fees. It's the emotional side of handling a short sale of another licensee and the lack of boundaries when the agent is part of your office. It doesn't matter how well or how little you know the person. Bottom line is it is hard to draw the lines for proceeding when two people are both trying to assert themselves based on their professional experience and, (if you are lucky…

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Added by Mellissa Young-Ramirez on February 12, 2011 at 12:29pm — 4 Comments

CHASE waiver of deficiency for non-owner investment

I was not expecting a waiver a defiency on a non-owner rental property, but maybe the fact that the owner had filed bakruptcy and been discharged had something to do with that approval?

Added by Mellissa Young-Ramirez on February 12, 2011 at 12:14pm — 5 Comments

Indymac Short Sale "Seller Breach and skittish Buyers

During the 30 day review, when Indymac/One West was in reality just assigning a negotiator for a HAFA short sale, aside from the fact they screw up and delayed the file by 3 months, my sellers decided to "give away" the appliances. The stainless steel appliances the actually closed the negotiations and motivated the buyers and offers that came in, suddenly disappeared and if I hadn't gone to show the listing to back-up buyers, I don't thinks sellers were going to tell me about it…

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Added by Mellissa Young-Ramirez on February 12, 2011 at 12:12pm — No Comments

SARASOTA, FLORIDA -Sales surge in December 2010 and prices remain stable

The Sarasota real estate market saw a big surge in December sales, from 534 in November to 681 last month for a 27.8 percent increase. In addition, the median sales price for both single family homes and condos was up in December 2010, indicating a recovering local real estate market. The property sales breakdown in December 2010 was 500 single family home sales and 181 condos.

The statistics for December 2010 were even…

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Added by Ed Martinez,CDPE, SFR, CHS, REOS on February 10, 2011 at 4:05pm — No Comments

3rd party negotiator

I am tired of hearing 3rd party negotiators making comments, like a real estate agent should not do their own negotitions until they have some under their belt.  Well my question to them is HOW MANY did they have before their first deal ?   I feel that all beginnings start with a first. 

 We agents/brokers take listings to bring the seller the most money possible. When an agent  starts bringing more parties into the equation the net price gets  reduced by the extra parties.  The only…

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Added by Obed Montez on February 9, 2011 at 2:06am — 15 Comments

PNC Bank

I have a short sale and PNC bank is the second. First is wells Fargo they are ok with the short sale. PNC is looking for a .ot of money or won't agree to the short sale. Anyone deal with PNC bank?

Added by Joanne Finochio on February 8, 2011 at 11:12pm — 1 Comment

Bank of America B of A Loan or Mortgage Owned by Fannie Mae ? Possible Short Sale ? Read Here

Bank of America B of A Loan or Mortgage Owned by Fannie Mae ? Possible Short Sale? Read Here

 

I recently found out that my seller's Bank of America loan has Fannie Mae as the investor. Well, there is such thing as the Co-op or Cooperative Short Sale. If the homeowner's mortgage is with Bank of America and owned by Fannie Mae then they may…

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Added by Sara Mehrpouyan Los Angeles CDPE on February 8, 2011 at 10:34pm — 1 Comment

Short Sales and Property Taxes,should you continue to pay?

Short Sales and Property Taxes,should you continue to pay?

I put this short video together to answer one of the top 10 questions I receive

from my short sale clients. "Should I continue to pay my property taxes"

Added by Sidney Kutchuk on February 7, 2011 at 11:32pm — No Comments

IBM LBPS

What is that acronym you say?  Well, if you haven't run into it, it's IBM's Lender Business Process System, and it's just another travesty.

Sad to say, they are difficult to contact, but for those that are having a hard time, they have just started a new phone number for realtors 877-917-6004.

The folks on the other end of the line seem to be abit more savvy of what's going on, but now they appear to be thinking that the market is improving!  Well, here in the Tampa area, if…

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Added by Peter Rundel on February 7, 2011 at 4:31pm — 1 Comment

Foreclosures Soar Among Military Families

The number of foreclosure filings in 2010 among veterans, active-duty troops, and reservists rose 32 percent over 2008, reports RealtyTrac, a foreclosure research firm. 

More than 20,000 of the military members who took out special government-backed mortgages lost their homes in 2010. That number marks the highest number since 2003.  

More military members are seeking aide in special programs for troops and veterans too. For example, the number of military families asking for…

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Added by Kenneth Bargers on February 7, 2011 at 3:45pm — 1 Comment

How Long does a Short Sale Take?

There are various factors that effect the length of time that a short sale can take.

  • Do you have more than 1 loan?  -If you have multiple loans, then there are more than one lender to negotiate with.
  • Who are the lenders?   -Not all lenders are created equal.  Some are more willing to work with you than others.  An experienced short sale Realtor can guide you through which lender typically is easier to work with.
  • Do you have a valid financial hardship?  -If your…
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Added by Dan and Traci Rochon on February 5, 2011 at 12:30am — 2 Comments

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