Jul
27
27
Real Estate Update - Housing Scarcity Conspiracy
Posted under REAL ESTATE by admin
http://inflation.us/
real estate Update from the coachella valley
Duration : 0:8:17
25 comments
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Jul
24
24
Real Estate Short Sale - Home Owner Hardship Letter - RealEstateMarketingThisweek.com
Posted under REAL ESTATE by admin
http://realestatemarketingthisweek.com/short-sales/short-sale-objections-advantages-and-hardship-letters-keeping-the-home-owner-in-the-home-helps-fight-vandalism/ - Short Sale Objections, Advantages and Hardship Letters; Keeping the Home Owner in the Home helps fight vandalism -
Part 3 - One of the things I mentioned at the beginning of the last segment is this special allotment of funds that we received from one of our mortgage banks that we currently have available, a 30 year fixed, no pre payment penalty this is the real deal just what youre looking for a 4.875% interest rate with an APR of 4.95% and that is available we do have people at the office right now if you have questions in regard to that they can answer them for you. You would call 480-Velocity
Michael, I have some clients who are buyers that would love that rate. Is that available to buyers as well? Actually, yes its that rate is for a no cash out refinance, no higher than 80% LTV, they have to have perfect credit to hit this number but even in some cases, well with this particular loan there are some closing costs, but one of the things we have available too is a no cost option and that interest rate is for people who are doing the purchase or refinancing and that rate is only 5.5%. The interest rate is 5.5% and the APR is 5.5% so that is for purchase money as well.
Were back talking here with Jeri League and Kalyn Roberts, were talking about the objections to doing short sales, there is another one you wanted to point out Jeri?
Yes, one more objection that people often have when we talk to them about their particular situation is that people feel that they have to be behind on their mortgage payment in order for a bank to consider a short sale and that is not true, the bank analyses everyones entire situation, we have people write a hardship letter, they want to see your financials and there is an entire situation not just being behind on your mortgage payment.
Your hardship may be that youre being relocated by your employer and you simply cant sell your home for what you owe on it due to todays market conditions. The banks will definitely look at that.
People think that the key is that you have to be late but that is not the case. That is really good to know, so we talked about the objections or the pitfalls rather what about the advantages to doing a short sale?
The biggest advantages to doing a short sale are: that its less impactful on your credit typically than a foreclosure and one of the most exciting benefits is that we can often extend the foreclosure and keep you in your house longer. In Arizona banks have a right to start a foreclosure as soon as youre over 30 days late on one mortgage payment. In todays current economic situation most banks are not starting that process for three to six months, but again that is most banks. They can start after one month.
Yes, but once they start the foreclosure process its a 90 day process in Arizona. So you will get a notice that says basically you have 90 days to come current with the note or to move and they are taking your house and selling it in 90 days. Now once we start the short sale process many times we can extend that foreclosure date.
I have personally done one that we had the home owner in for almost a year from when they stopped making their mortgage payments. Its not uncommon to be two or three months past the original foreclosure date that they gave you which of course gives people a lot longer time to decide what they are going to do, especially if its a family, they are not in such a rush to move, they can keep their kids in the same school district, there are so many reasons that that is a good advantage.
So Kalyn the truth is that homes that are occupied generally are better off and easier to sell than vacant homes right? So long as people are in the house and taking care of the house, if the house looks lived in but not trashed. What youre saying is lenders would just as soon leave them in the house then to have it vacant and potentially vandalized.
Definitely, the lenders prefer to have somebody living in there because they are taking care of the home, like you just said when the homes are vacant there is a high risk of them being vandalized, unfortunately and the worse the economic situation in the country gets the higher the vandalism rate on homes goes. In fact we were talking with a realtor in our office who typically takes listings in some of the lower income areas in town and they are going to stop putting signs on vacant listing because they are getting vandalized so much… http://realestatemarketingthisweek.com
Duration : 0:6:19
Jul
14
14
2010 Real Estate Market Investment Collapse - Sub / Prime Mortgage / Alt-A / Option ARM / Commerical
Posted under REAL ESTATE by admin
In 2007 the real estate Bubble began to deflate with Subprime mortgages busting the loudest. The stock market collapse in half in 2008.
This 60-Minutes special features experts that say 2010 is going to be worse. Millions more Americans are going to face foreclosure with their homes underwater, even prime mortgages. Home values are going to decrease another 30-50% in the most inflated markets. Get out now and go into safer assets.
Be ready investors and 401k holders, your stocks are about get cut in half AGAIN when this new panic across the entire platform of the housing market in 2010/2011.
Deflation, then more bailouts/stimulus, then serious inflation.
Duration : 0:9:45
Jun
29
29
158 Grand Boulevard, Benton Harbor, MI 49022
Posted under GRAND HARBOR by admin
Video tour of Benton Harbor’s New Address, 158 Grand Blvd. $1,425,000. Life’s a beach at Grand Boulevard. Walk out the door, on to the sand, and into Lake Michigan. Amazing views from this new home that’s ready and waiting for you. 2100 SF, 4 beds, 3.5 baths, finished basement, granite, hard woods, master deck, screened in porch, adjacent to the upcoming Jack Nicklaus Signature golf Course. Act now! Email LPetzke@ShipStreetRealty.com for more information.
Duration : 0:9:53
Jun
29
29
Video tour of Orchid Island home in Vero Beach Florida - 500 White Pelican Circle
Posted under VERO BEACH by admin
Orchid Island
500 White Pelican Circle
Vero beach, FL 32963
ID#106379
Listed Price: $2,975,000
Comfortably elegant, newly completed home on large estate lot with golf course views. Four spacious bedroom suites plus library. Fabulous kitchen and gorgeous architectural details. Covered veranda with summer kitchen and fireplace.
For more information on this gorgeous estate home for sale in Orchid Island please contact:
Joan Cook
Dale Sorensen Real Estate
5065 N A1A
Vero Beach, FL 32963
cell: 772.559.5846
office: 772.234.3801
email: JCook@SorensenRealEstate.com
website: www.SorensenRealEstate.com
Duration : 0:3:22
Jun
20
20
This Month in Real Estate (US) : June 2010
Posted under REAL ESTATE by admin
This Month in real estate looks at the decrease in foreclosure filings, and how an increase in short sales might be playing a role in the number of foreclosures filed.
Duration : 0:3:43
Jun
08
08
11600 Grand View - Lakefront, Bulkheaded Lake Conroe Property in Grand Harbor
Posted under GRAND HARBOR by admin
Prestigious Grand Harbor property for sale $114,990. Build your dream home on Lake Conroe in Texas. For more property detail visit www.har.com/waderice
Duration : 0:1:31
May
29
29
This Month in Real Estate (US) : April 2010
Posted under REAL ESTATE by admin
This Month in real estate looks at the reversal of the 50 year trend toward larger homes. And why this might be a good time to buy for those looking to move up.
Duration : 0:1:52
May
23
23
This Month In Real Estate (US): December 2009
Posted under REAL ESTATE by admin
Hello and welcome to This Month in real estate. Im Jay Papasan.
The First Time Homebuyer Tax Credit has been extended and expanded, and the details can be found in our most recent special edition.
For December, we take a look at the results the incentive had on stimulating home sales since 2008.
According to the IRS, about 1.4 million people have taken advantage of the first time homebuyer tax credit.
Not surprisingly, California ranks number one with the number of people filing a claim for the tax credit, while Alaska and Wyoming are among the states with the fewest number of claims.
But those numbers dont tell the whole story. For more, we go to Bryon Ellington. Bryon?
Bryon: Thanks, Jay.
According to the Internal Revenue Service, every state in the Union has participated in the First Time Home Buyer Tax Credit.
If we look at the results according to the total number of claims, heres how the rankings shake out:
California is number one with more than 160 thousand tax payers taking advantage of the first time home buyer tax credit.
Texas is number two with over 131 thousand.
And FLORIDA is number three with over 105 thousand.
But when we look at the data in terms of per capita claims, or the percentage of folks in each state who took advantage of the tax credit, we get radically different results.
Heres a look at the top three in terms of per capita participation in the tax credit
Nevada is in the number one position with more than 20 thousand claims out of a population of 2.6 million.
Utah is in the number two position with over 17 thousand claims out of a population of 2.7 million.
And Arizona is in the third position with over 38 thousand claims out of a population of 6.5 million.
Whats more, we find Alaska moving from near the bottom of the rankings to number 26 above California! And Wyoming, the least populated state in the U.S., moves to number 16. Thats just a bit behind Texas in terms of per capita tax payer participation.
Back to you, Jay
Jay: Thanks, Bryon. Thats it for This Month in Real Estate. Thank you for joining us.
Duration : 0:3:6
May
18
18
Massive Defaults Coming in Real Estate - 30% - 50% Reductions
Posted under REAL ESTATE by admin
http://inflation.us/
After doing research on Loan Modification Default Rates and Shadow Inventory Rates i am in shock. This is very serious people. I feel very bad for all the responsible people who have been paying on their loans like clockwork hoping to use equity to subsidize their retirement. Can anyone say “poof”
Links
http://www.mgic.com/servicing/hamp_gse.html
http://mhanson.com/archives/242
Duration : 0:4:13
