Almost once a week, I end up talking to somebody about low price properties: a home for $45,000, or $35,000, or even $20,000. There are three things I always explain: first, there is a lot of competition to buy those properties; second, they all need thousands of dollars of repairs to be inhabitable; and finally, [...]
A couple of weeks ago, I promised to write about the decline in foreclosures. Why are there so few in the MLS right now? Why are there fewer foreclosure starts both in Nevada and nationally? Is there really a “shadow inventory” problem that is going to eat our collective equity? Let’s talk about some of [...]
It’s been a busy time for those of us who pay attention to the news! The time it takes to complete a foreclosure is going up, but the number of delinquent loans is thankfully going down. It’s sobering to think that something like 1 in 12 mortgage payers are behind and 1 in 25 is [...]
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If any of this sounds like it can help you, get more information at NAHAC.org and call the toll free number at the top of the page. This stuff is being paid for with TARP funds — that’s your tax dollars! — so act now. We had a little bit of real estate [...]
But the most important thing either way, consult a lawyer who specializes in asset protection. Here’s a little bonus for you: a bunch of news stories about where we are in the foreclosure crisis.
I’ve got a few little news items to add for now. First off, today’s big news is that nationwide, 28.4% of homes with mortgages are “underwater.” Needless to say, that percentage is much higher in Nevada! Fannie Mae wants another $8,500,000,000 from Uncle Sam, bringing their bailout to near $100,000,000,000. Amazing! And finally, for those [...]
Seriously, a simple question at a party sparked most of an episode of Getting REAL. Bonus material: things buyers shouldn’t do; the Feds may actually be trying to get short sales moving, maybe; unexpected home expenses (or, sometimes water heaters die); on average, sellers wait 79 days before a price cut; and what is up [...]
Just for fun, maybe you’d like to check out these real pictures from foreclosed homes.
Then here’s 17 minutes of “must see TV”. Actually, the short sale discussion is in the middle — sort of a video update to “The Truth About Short Sales.” We also talk about FHA mortgages.
