Blog archives from 2012

New Rules to Speed-up Short Sales
Apr
24

New Rules to Speed-up Short Sales

The Federal Housing Finance Agency laid out new rules aimed at speeding up the short sale process, a move that could keep many homes from falling into foreclosure. In a short sale, the bank that holds the mortgage must agree to accept a price for the home that is less than what is owed.

Even though short sales are considered a better alternative to foreclosure, banks often take so long to review and approve short sales that the deal falls apart and homes get repossessed. "Delays in approving short sale requests remain a significant challenge for realtors and consumers and often results in canceled contracts and the property going into foreclosure," said the president of the National Association of Realtors.

The organization attributed much of the closing problems to extended lender response times. Some agents said that lenders even foreclosed on the homes before a short sale could close.


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Home Prices to Rise in 2013
Apr
5

Home Prices to Rise in 2013

The Urban Land Institute released its Real Estate Consensus Forecast Wednesday morning, and overall, the 38 real estate economists and analysts surveyed projected broad improvements for the economy.

With signs of improvement in the housing sector already emerging, participants expect to see housing starts nearly double by 2014 and project home prices will begin to rise in 2013.

The average home price, which has declined somewhere between 1.8 percent and 4.1 percent over each of the past three years, according to FHFA data, is expected to stabilize in 2012, followed by a 2 percent increase in 2013, and a 3.5 percent increase in 2014.

Single-family housing starts are expected to rise from 428,600 starts in 2011 to 500,000 in 2012, and jump to 800,000 in 2014.


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Monday, May 29, 2017
Generational Housing Needs and Their Effect on the Market

Saturday, May 13, 2017
Consumer Agency Launches Tool To Help You Find A Cheaper Mortgage

Saturday, April 8, 2017
King County home prices resume their climb

Tuesday, September 17, 2013
Keys to Help Buyers Compete in a Seller's Market

Thursday, May 23, 2013
10 Things Buyers Need to Know

Sunday, April 14, 2013
Women Consider Owning a Home to be a Vital Component of the American Dream

Tuesday, March 19, 2013
The 8 Top Home-Selling Mistakes You Should Avoid

Thursday, January 10, 2013
Fiscal Cliff Bill a Benefit for Homeowners

Sunday, December 2, 2012
Should You Help Your Adult Kids Buy Their First Home?

Monday, October 29, 2012
Economists Bullish on Housing Recovery

Sunday, October 21, 2012
What is moving housing upward?

Monday, September 10, 2012
Five Common Mortgage Myths

Thursday, August 2, 2012
It's a great time to be a seller

Saturday, June 23, 2012
Are appraisers falling behind on home value increases?

Wednesday, June 6, 2012
Is Now the Time to Invest in Rentals?

Wednesday, May 30, 2012
4 Guidelines for Successful Negotiations

Thursday, May 24, 2012
5 Reasons Now is the Time to Buy

Tuesday, May 15, 2012
Seattle-Bellevue-Everett Unique Housing Market

Thursday, May 3, 2012
Buying a home won’t get much cheaper

Tuesday, April 24, 2012
New Rules to Speed-up Short Sales

Thursday, April 5, 2012
Home Prices to Rise in 2013

Thursday, March 22, 2012
Buying Cheaper than Renting in 98 of Top 100 Major U.S. Markets

Sunday, March 11, 2012
Five Tax Breaks for Homeowners

Thursday, March 8, 2012
How the FHA Loan Plan Can Help You Refinance

Thursday, February 16, 2012
Housing Crisis to End in 2012 as Banks Loosen Credit Standards

Estella said
"That is a beautiful shot with very good lighting ." about Women Consider Owning a Home to be a Vital Component of the American Dream
on Sunday, May 12, 2013 @ 9:57 AM

Chris White - Team Leader said
"Unfortunately you are not alone. It's more than an outcry. The powers that be really need to come down harder on Bofa than they already are. Working on these short sale for over 2 years now I've uncovered down right fraud happening on the lenders parts. If they cared more about moving this country forward than protecting their own wallets then they would cut the red tape and approve these short sales in a timely manner. Our team made the wise decision to get BofA loans which were FHA or Freddie Mac backed, approved prior to listing on the market. Then we can list the home as "Price Approved" and close in 30 days. In this instance BofA does a full appraisal, rather than an incompetent "Broker Price Opinion" (nothing against agents but they have no idea how to make adjustments on comparable homes) and then the bank issues an "Approval To Participate" letter which dictates what price we can go on the market and take anything north of 88%. I really do hope your situation improves. " about Congressional Bill to Speed Up Short Sales
on Tuesday, August 30, 2011 @ 9:15 AM

Lisa Zeiner said
"We made an offer 4 months ago to BofA, and have heard nothing. It was a cash offer which is better than the zero money they are collecting now. And since the people don't care they are trashing the place, by the time BofA gets around to it our offer will be gone as the place is a mess!! Septic issues now, garbage being dumnped. All of this could have been avoided if BofA really wanted to correct their cash flow problem and sell these properties in a timely manner. They cry about cash but then do nothing intelligent to fix the problem" about Congressional Bill to Speed Up Short Sales
on Tuesday, August 30, 2011 @ 9:06 AM

Jones Ramirez said
"Thank you for the work you have done into this post, it helps clear up a few questions I had." about How do appraiser’s determine a homes value?
on Tuesday, April 19, 2011 @ 10:07 PM

HollyRobsonf said
"Hey - I am certainly happy to find this. great job!" about Bank of America to Offer Principal Reduction to Underwater Borrowers
on Wednesday, April 13, 2011 @ 6:45 PM