Mortgage Calculator
August 2011
Major Lenders Offering Perks on Short Sales The nation’s leading mortgage lenders are extending extras for short sale transactions employed as an alternative to foreclosure – both in the form of monetary incentives for borrowers and streamlined procedures for real estate agents. Wells Fargo says it has been making “enhanced financial relocation assistance offers” that can be as much as $10,000 or $20,000 to certain borrowers who choose to... [Read More...]
July 2011
How to Position Your Buyer Clients Favorably in REO Transactions Someone once likened selling REO properties to rooting for the House at Blackjack. There are many opportunities for selling agents, though. The volume of properties that banks have acquired has forced them to look at home values with clear eyes. In many ways, representing clients in the purchase of a foreclosed home is no different than helping them with the purchase of a home from... [Read More...]
June 2011
Mortgage Insurance Cancellation: The Myths and Realities When it comes to private mortgage insurance (MI), there are several myths that exist that make buyers reluctant to consider a conventional loan with MI as an option when purchasing a home. One of the more common misconceptions is that cancelling MI is a difficult—not to mention time-consuming—process. The irony is that the majority of buyers don’t harbor those same beliefs or reservations... [Read More...]
May 2011
How to Draw Huge Traffic with a Website Party As a real estate professional you know that you must have a website. There are many options for creating a website, such as a company sponsored site, a custom website, or a real estate website template with hosting. Regardless of where it came from, how do you get visitors to your site now that you have one? I say, let’s throw a party and invite them! Here are five steps that you can do immediately... [Read More...]
February 2011
FHA extends ‘anti-flipping’ waiver Homebuyers relying on FHA-insured financing will still be able to buy homes that have changed hands in the last 90 days, thanks to a decision by the Federal Housing Administration to extend a temporary waiver of its “anti-flipping” rule through the end of the year. The anti-flipping rule, a 90-day waiting period implemented to protect the FHA’s mortgage insurance program from losses, already included... [Read More...]
Home Prices Down in Southern California
March was another weak month for Southern California home sales, but several factors indicate the market wasn’t as bad as it has been in recent months. A surge in job creation or another round of price corrections could improve the situation. Southern California home sales turned in another lackluster month in March, the result of a fussy mortgage market, slow job growth and a continued wait-and-see attitude among potential buyers and... [Read More...]
Yvonne Walton on Short Sales and Escrow
Real Life Escrow Stories, by Yvonne Walton Escrow’s little miracles….even in Short Sales! “Recently on a Short Sale transaction, the moving trucks were loaded and ready to go, the short sale was expiring the next day. We knew the file HAD to close, but there still had been no loan documents received into escrow. Finally, with some extra work between lending and escrow, loan documents were received. By putting in the extra effort and staying... [Read More...]
April 2011
First-Time Home Buyers Prepare for Best Buyer’s Market in Recent History While affordable housing prices, ample inventories, and historically low interest rates signal ‘buyer’s market’ for investors or move-up buyers in many U.S. markets, inexperienced first-time buyers may not know if the time is right to make a move into real estate. “It’s not about timing the market. It’s about time in the market,” says Steve Berkowitz, chief executive... [Read More...]
Why Even Qualified Homebuyers Are Standing Still
We at Centennial Escrow in Encinitas and Escondido are always following markets trends. The article below was recently posted to rismedia.com and offers some interesting information on why some Buyers are waiting to jump into the market. Despite the uptick in sales of homes worth one million dollars or more last year (up 18.6% in 2010 according to DataQuick) the average American homebuyer is still proceeding with a large degree of caution. Below... [Read More...]
