By Erica Christoffer, Multimedia Web Producer, REALTOR® Magazine Developers of multifamily homes should be relishing in the fact that demand is incredibly strong. But in reality, developers are struggling to build new apartments because financing is so hard to come by. The National Association of Home Builders is forecasting the construction of 208,000 multifamily residences [...] Click Here To View More
Listings Syndication Battle Hits A Nerve, Industry Responds
Reposted from a great Orange County California Realtor’s blog..Thanks LINSEY PLANETA I’ve been listening to the conversations about syndication for months. What began as quiet rumblings, have now become giant roars as Abbott Realty Group (watch Jim Abbotts video NOW) pulled the plug on syndication of their listings to the 3 major real estate sites, only a few months behind Edina Realty. I find it particularly interesting that a relatively small boutique company pulls their listings and it garners such impassioned response from my industry friends. I cringe to think of my Facebook feed if it were a broker of [...] Click Here To View More
Short Sale: The Best Solution To Avoid Foreclosure
HARRIS REAL ESTATE UNIVERSITY Students (and future students) share this video, tweet it. This video answers very common questions owners have about what to do with an underwater home. Remember, effectively 50% of ALL OWNERS with a mortgage are now underwater. Think about that…in most real estate markets every other home is underwater! Be the agent with the solution to help that owner avoid a foreclosure… WARNING: Short Sales…love em or hate em…they are here to stay! Go beyond the basic ‘expert’ short sale designation. Watch the FREE 2012 Agent Short Sale Secrets video and download the FREE Short Sale training [...] Click Here To View More
Its Official: 2011 Was The Worst Year For New Home Sales…EVER! (Video)
After a welcome week of seemingly positive housing news….now, its back to reality. Its official: 2011 was the WORST YEAR for new home sales in U.S. History. (like we didn’t all know that already, right?) To the facts: * 1 out of every 5 homes sold in 2011 was a foreclosure * New home sales dropped in December * Home values are still on the decline (3-5%) * There will be a new wave of foreclosures in 2012. Remember that whole robo-signing mess? The states A.G.s are in the final stages of settling the massive suit with the nations largest [...] Click Here To View More
How To Buy A Home After A Short Sale | Agent Short Sale Designation
How to buy a home after a short sale……can it really be done? The answer is yes (and it depends). The short answer (pun intended) is that you CAN buy after a short sale. However, if you missed payments prior to the short sale you are out of luck. It seems that the short sale itself isn’t the end of the world (according the current lending standards). Missing payments prior to the short sale is what hurts your credit.. Dear Dr. Don, We were forced to do a short sale with our home due to a huge salary cut. Our [...] Click Here To View More
Bank of America Short Sale | Florida Enhanced Short Sale RELO Program
The Florida Enhanced Short Sale Relocation Assistance Program has been extended to Dec. 12, 2011. This program offers enhanced relocation assistance to help encourage homeowners to engage with Bank of America on a pre-offer short sale. Homeowners may be eligible for relocation assistance between $5,000 and $20,000.* Short Sales…love em or hate em…they are here to stay! Go beyond the basic ‘expert’ short sale designation. Watch the FREE 2012 Agent Short Sale Secrets video and download the FREE Short Sale training guide. DOWNLOAD NOW>>>> Eligibility: · Homeowners with property in Florida · Short sales initiated without an offer between Sept. 26 [...] Click Here To View More
Surprise Increase In New Home Sales | 2012, Real Estate Recovery?
Good News for housing! New Home Sales actually INCREASED…. According to data released this morning by the Commerce Department, sales of new homes hit a seasonally adjusted annual rate of 307,000 in October, up 1.3% from the previous month and up 9% from October 2010. While demand is still weak — in a healthy housing market roughly one million new homes sell each year — some experts see the uptick as a sign the long-suffering new home market may be on the mend. WARNING: Short Sales…love em or hate em…they are here to stay! Go beyond the basic ‘expert’ short [...] Click Here To View More
Short Sale Your Home, Owe Taxes? | Mortgage Forgiveness Debt Act Expiring
WARNING: Unless extended the much lauded Mortgage Forgiveness Debt Act expires end of 2012. If you have underwater owners on the fence about when to list their homes as a Short Sale (to avoid a foreclosure) they must act before its too late… ….there is no guarantee the the Forgiveness Act will be extended into 2013. Bottom line, take action now! From MarketWatch.com Thirty-five percent of current clients surveyed by YouWalkAway.com said that they’re walking away from their homes sooner because of the upcoming expiration of the Mortgage Forgiveness Debt Relief Act at the end of next year, according to [...] Click Here To View More
Foreclosure Fraud Victims Can Now Fight Back
Do you think you (or a client) were wrongfully foreclosed on? Now there is a way to fight back. Well, sort-a. In this video are the details of a new program where owners who lost their homes to foreclosure can obtain possible restitution. Will it work…can lenders actually police themselves and admit fault for their foreclosure mistakes (let alone potential fraud)?. If you think the lenders are slow to get their shadow inventory for sale…or slow to process short sales….just wait to see how slow they will be to process claims against THEM for foreclosure mistakes. WARNING: New 2012 Short [...] Click Here To View More
Details Leaked: New Underwater Owner Bailout Program
Loan Modifications. If loan mods didn’t work the first time….why not try again! …yet another well intentioned ‘save housing- loan modification’ program is being discussed’. Like all the others, this one won’t work. The States A.G.s are in heated negotiations with the big banks. The big banks are doing everything they can to make it so they are off the hook for future mortgage related law suits. The states are trying to create a settlement that will help as many troubled homeowners as possible…here are the details (and watch the video) Here is what you need to know: Point: Being [...] Click Here To View More
Urgent Breaking News: Dramatic INCREASE In Short Sale Approvals
As promised, there has been a DRAMATIC SHIFT in banks doing short sales. Harris Real Estate University students (and future students) I have a simple question for you… ….what are YOU DOING NOW to take advantage of the changes happening now for short sales? In 2012 the demand for agents who know how to actually list and sell short sales is going to be insane. I have NO DOUBT that the banks are going to do everything they can to get as many short sales through to avoid foreclosures. Why the change in policy..or at least why are banks now [...] Click Here To View More
Will Lower FHA Loan Limits Equal Fewer Home Sales (Video)?
National Association of Realtors warned all of us…did we listen? As NAR expected the lower FHA loan limits has results in the number of mortgage applications to BUY a home to nose dived. Effective September 30th 2011 the maximum loan limits for FHA insured loans is dropping. Depending on your market that could matter a little or not at all. In the highest priced areas of the US the loan limits have fallen by nearly $100,000! Its now estimated that 90%+ of ALL new home loans are FHA mortgages. Starting October 1, 2011, today’s high-cost conforming loan limits will be [...] Click Here To View More
2011-2012 Home Value Predictions (Video) | New American Dream to RENT a Home?
QUESTION: Why do 3% of the agents make 97% of the money? Answer: They are making money NOW doing REOs and BPOs…why aren’t you? Watch the FREE Agent REO Secrets video and grab the NEW FREE REO/ BPO Book. NOTICE: Free book guaranteed for the first 100 agents only. Click Here To View More
20 Billion Dollar Mortgage Settlement | Banks Forced To Bail Out Underwater Owners?
Banks are being forced by the States Attorney’s generals to cough up 20 Billion dollars to settle the claims against them over wrongful foreclosure practices. How will this money be used…who will benefit from it and who won’t….time will tell. Its possible that there will be some sort of negative equity forgiveness program. As we reported yesterday former FDIC Chair Sheila Bair suggests that its (past) time for the major lenders to literally forgive negative equity. Others suggest that a new more radical loan mod program should be created that leaves acts as a hybrid allowing owners to stay in [...] Click Here To View More
New Report: Home Values Falling Faster In Lower End
According to this video lower end homes are falling faster in value over the middle price range (move up) and luxury brackets. Do you find it interesting that home values are falling faster in the lower end? (Maybe the word isn’t interesting…its maybe…’suspect’?) The belief is that the lower end home sales are subject to first time buyers who can’t scratch up a downpayment and/ or meet today’s overly strict lending requirements. But, I am thinking there is another reason. REO inventory. Specifically, lenders are focused on selling their lower end assets now…because the losses from those sales is SMALLER [...] Click Here To View More
How To Buy A REO, Bank Foreclosure | Investing In Real Estate
Harris Real Estate University Students (and future students) share this video on your blog…on Facebook etc. Great (basic) tips for home buyers who are considering purchasing a REO. (REO= Real Estate Owned) Not discussed in this video is the fact that if the property needs a bunch of work the bank won’t approve the loan. This is especially true if the mortgage is a FHA insured loan. When the home is being appraised the appraiser will note any non FHA compliant items. Those non compliant issues will need to be fixed before the loan is approved. Keep in mind that [...] Click Here To View More
National Association of Realtors April Pending Home Sales
National Association of Realtors official explanation of the very disappointing April Pending home sales results… In case you missed it, pending home sales dropped by more than 11%!. Not a great sign of things to come for the rest of 2011. NAR blames..the crappy weather…and the banks ever tightening lending standards. Hard to argue with either explanation. The weather was unseasonably bad and the banks are most definitely tightening their lending standards. WARNING: Short Sales…love em or hate em…they are here to stay! Go beyond the basic ‘expert’ short sale designation. Watch the FREE 2011 Agent Short Sale Secrets video [...] Click Here To View More
Fannie Mae Home Path Buyer Incentives | Fannie Mae REO’s, Foreclosures
Hats off to this REALTOR (r) and Loan Officer for doing a great job explaining the benefits of the Fannie Mae Home Path program. As an agent you should also know that Home Path listings often pay MORE THAN 3% commission. STOP: Agents, are you finally ready to dominate your real estate market? Become a Lender Approved REO and BPO Agent. Watch the FREE Training Video and download the FREE Book Now!. NOTICE: Free book guaranteed for the first 100 agents only. Check out Fannie Mae’s Home Path site to learn about all of the Fannie Mae foreclosures (REOs) for [...] Click Here To View More
How To Get A Mortgage After Short Sale (or Foreclosure)
The guidelines for new mortgages are changing. Everything we take for granted about home loans (and being a home owner) is being debated now in Washington D.C. Its clear that required mortgage down payments will increase along with other key elements that many of us have taken for granted. For example, there is growing support to eliminate the mortgage interest tax deduction. There are also political rumblings behind getting rid of the ‘As American As Apple Pie’ 30 year mortgage and replacing it with a 15 or 20 year term. (REALTORS(R) remember, support the NAR. They are the only voice [...] Click Here To View More
Spring 2012 Homes Sales Expected To Set Records!
Great News for housing…FINALLY! Home sales in the U.S. probably climbed in January to the highest level since May 2010, adding to evidence the housing market is regaining its footing, economists said reports this week will show. Combined purchases of new and existing houses rose to a 4.97 million annual rate from 4.92 million in December, according to the median forecast in a Bloomberg News survey. Claims for jobless benefits held near the lowest level since 2008, bolstering consumer confidence, other reports may show. A strengthening job market, combined with record affordability driven by the drop in home prices and mortgage [...] Click Here To View More
Categories: Financing, Financing News, Foreclosures, Market Conditions, Market Conditions & Predictions, National Real Estate News & Comment, Predictions, Real Estate Coaching & Market News, Real Estate Industry, Real Estate News, foreclosure - #1 real estate coach, #1 realtor coach, Breaking Real Estate News, distressed property designation, HREU, national association of realtors