October 21st, 2010 in CDPE by cdpe
Added by Dan and Traci Rochon on October 31, 2010 at 12:00pm — No Comments
Mortgage applications to purchase homes rose 3.9 percent last week compared to the previous week on an adjusted basis.
On an unadjusted basis, purchases rose 3.5 percent compared with the previous week, but were 30.3 percent lower than it was the same week a year ago.
Including mortgage applications to refinance, total applications increased 3.2 percent on an adjusted basis.
Mortgage rates were the second lowest ever observed by the MBA’s weekly…Continue
Added by Kenneth Bargers on October 28, 2010 at 11:43am — No Comments
Bank of America announced that it will not proceed with foreclosures in all 50 states while it reviews its procedures for foreclosures.
The question, is what effect does Bank of America's Foreclosure Moratorium have on the Riverside County real estate market and those who are facing foreclosure or considering selling their…
Added by Cecilia Rodriguez on October 27, 2010 at 5:15am — No Comments
5 Reasons Foreclosure Prevention Is Like Halloween
I don’t know if kids do this anymore, but I remember part of the fun, the anticipation, of Halloween was coming up with a “Trick” to offer in exchange for candy –…Continue
Added by Jennie Blackburn, Realtor, CDPE, on October 26, 2010 at 4:00pm — No Comments
Published On: October 23, 2010
Added by Eugene Mills on October 25, 2010 at 1:30pm — No Comments
Published On: October 15, 2010
GMAC’s mortgage unit, Ally Financial, has followed Bank of America in reviewing its foreclosure proceedings on a nationwide level. Ally continues to halt evictions in only 23 states, but has hired a “specialized team” to review all their foreclosure holdings with special…
MARKET COMMENT Mortgage bond prices ended the week higher pushing mortgage interest rates lower. We had a week of very mixed data. Industrial production data was weaker than expected which was generally bond friendly to start the week. Stronger than expected housing starts data Tuesday was not what the bond market was looking for but the reaction was muted. Significant stock weakness Wednesday helped mortgage bonds finish the day in positive territory. This was followed by…Continue
Added by Kenneth Bargers on October 25, 2010 at 10:32am — No Comments
Showing property in the rain - can it be successful or just a wet, bedraggled mess? Depends on you and your buyers! Selling real estate in southern California means that the weather is mostly sunny and nearly all showings are done in a pleasant climate. We are so unaccustomed to rain that buyers often cancel their showings at the first sign of inclement…Continue
This week both Bank of America and GMAC resumed foreclosures. The states attorneys are investigating all foreclosures, and depending on the outcome of their investigations, this issue will likely plague the real estate market for some time.
We anticipate that if the government steps in, it will be devastating…
Home builder confidence rose in October for the first time since May.
The National Association of Home Builders/Wells Fargo Housing Market Index rose three points to 16. All three components of the index were up with sales conditions rising three points to 16; six-month sales expectations increasing four points to 23; and buyer traffic climbing two points to 11.
“The new-homes market is finally moving past the lull that occurred when the home buyer tax credits…Continue
Added by Kenneth Bargers on October 20, 2010 at 9:51am — No Comments
Added by Reggie Woodgett RDCPro, CDPE on October 18, 2010 at 11:00pm — No Comments
The use of short sales will get a boost now that many servicers cannot move ahead with foreclosure sales, according to Travis Olsen, a short sale vendor.
Under pressure from regulators, state attorneys general, and the courts to review and fix their foreclosure procedures, banks and their servicers have suspended foreclosure sales.
Short sales do not need court approval. This foreclosure alternative allows borrowers to sell their homes and walk away from…Continue
Added by Barbara Shaw on October 18, 2010 at 11:58am — No Comments
National business news site Portfolio.com ranked U.S. cities with the highest income growth.
The study examined 100 metropolitan areas, analyzing federal income data to compare…Continue
Added by Kenneth Bargers on October 14, 2010 at 2:57pm — No Comments
I have heard that if you represent the buyer and seller on a Short Sale that the bank may cut you Commission by as much as 1/2. Wondered if there is any truth to this and if so how can I prevent this. If so which banks do this kind of commission cutting?
Added by Reggie Woodgett RDCPro, CDPE on October 14, 2010 at 7:00am — No Comments
Added by Sidney Kutchuk on October 14, 2010 at 12:00am — No Comments
A foreclosure really hurts everyone's home values. It sneaks up to the most unsuspecting neighborhood. One day a moving van pulls up, quickly loads up that homeowner dreams and belongings, and disappears down the road.
Then the home falls apart. The grass grows real long. Six to twelve months later a for-sale sign pops up. The home is listed for sale at such a low value it SHOCKS YOU!
Did the housing market really fall that far? No. Banks just price their homes…
Added by Zeev Greenstein on October 13, 2010 at 1:12pm — No Comments