As much as I would like to give a whole lot of deep analysis on this, there’s just too much news this week. Bank of America has joined Chase and GMAC in freezing foreclosure in states where a judge must actually sign off — not Nevada! — but Wells Fargo insists that there is no [...]
Add Bank of America to the list of mortgage companies that is halting foreclosures in 23 states. A quote from their spokesperson (emphasis mine): “To be certain affidavits have followed the correct procedures, Bank of America will delay the process in order to amend all affidavits in foreclosure cases that have not yet gone to [...]
Bloomberg Businessweek says “Distressed Homes Sell at 26% Discount in U.S. as Supply Swells.” CNN says “Foreclosures sell at 26% discount.” CNN at least clarifies things by telling us: They sold for about 26% less than non-foreclosed homes, compared to 35% less in the first quarter. A little more than half of these deals were [...]
Alright, this week we learned that August had record high foreclosures — and we are talking about the very final stage of the foreclosure, where the bank takes over the property. This number is up 25% from last year. One fact that is getting overlooked is that this data has only been tracked since 2005. [...]
Welcome to Friday Figures! All information from the GLVAR MLS system. Touring, listing, or making a purchase offer in the Las Vegas Valley this weekend? Read this first! Summary: At 14937 available units, we’re at crunch time: does that number continue to go up by 200-300 every week, or does it level off and stay [...]
USA Today put the news very succinctly: “Home prices rise in 17 cities in June; gains not expected to last.” In fact, nationwide prices were up 3.6% over last year. It is important to point out that the rise was at least partly due to the home buyers tax credit. There is no point in [...]
Let me start with the good news. Foreclosure filings across the nation are down 10% from last year. Default notices have been declining for 6 months on a year-over-year basis. Filings were down in Nevada by 30% from last year, but we’re still the top state for foreclosure filings for the 43rd straight month. One [...]
According to Freddie Mac, mortgage interest rates are flirting with all time lows. For people with decent credit, a decent job, and some cash in the bank, that makes it a great time to consider your options. Your cost to borrow money is low, and that is certainly a factor to consider in the “rent [...]
Take a look through books, blogs, and magazines oriented towards Realtors and before long you will find something on pictures for listings. Usually it runs towards tips and tricks for taking really great pictures of listings to show a home in its best possible light. Sometimes it’s merely advice (or ads) to let a professional [...]
Not very long ago, it was common to have a second mortgage just to avoid private mortgage insurance. The first mortgage would be the traditional 80% of the purchase price. The second could be a conventional, ARM, or even HELOC for 10% or even 15% of the purchase price (MSN seems to think these are [...]
