The local housing market continues to mimic spring growth, as Twin Citizens emerge from their wintry cocoons just in time for the final days of the home buyer tax credit. For the week ending March 20, there were 2,277 new listings, up 28.8 percent from a year ago and marking the seventh consecutive week of strong year-over-year increases. Pending sales dropped a bit from their high the previous ...
Understand agency relationships - Single agency and dual agency are pretty straightforward concepts, but make sure your Realtor explains them to you so there are no misunderstandings down the road.
Get representation - I come across a lot of buyer's that don't understand the benefits of having a Buyer's Agent. Having someone advocate for you in a real estate transaction is ...
What is a Short Sale?
A short sale can be an excellent solution for homeowners who need to sell, and who owe more on their homes than they are worth. In the past, it was rare for a bank or lender to accept a short sale. Today, however, due to overwhelming market changes, banks and lenders have become much more negotiable when it comes to these transactions. Recent changes in corporate policy have ...
A new federal program, Home Affordable Foreclosure Alternatives, aims to make the short sale process easier for buyers and sellers. Starting April 5th the federal government will begin providing financial incentives to lenders who accept short sales. Banks who participate in HAFA will also have to follow new rules to streamline the short sale process.
The new rules will require banks to ...
Short sales are the hottest thing going in the distressed-property market, and the trend is expected to get even hotter in coming weeks.
Shortsales accounted for 17% of all residential real estate sales in February, up from nearly 13% in November, according to a monthly real estate market survey by Campbell/Inside Mortgage Finance.
This is a huge change from even just six months ago when the short-sale ...
Since the start of the year 69 homes and townhomes have been sold and closed in Shakopee. The average sales price was $183,942. The comparables are 3 Bedroom, 2.6 Bathrooms, 1866 finished square feet, built in 1999. That works out to about $100.00 per square foot. Days on market were 89, however some homes that were relisted drove the days on market to 167days.
Please look at my website www.searchingshakopeehomes.com for ...
Posted by
Hugh Faulds
on 03/30/2010
Buying a new home is an exciting and busy time. The transition from old home to new home will go smoothly if you stay focused on your goal. Make sure to set up utilities at your new home.
When your rate is locked and your closing is scheduled, it's time to schedule the start of utilities and home services at your new home. When calling to start service for gas, electric ...
Posted by
Gina Schedivy
on 03/29/2010
This is a great question and the answer is surprising to most people. A foreclosure will lower your credit score anywhere from 250 to over 300 points! Typically the foreclosure will affect your score for well over 3 years.
A short sale however will only show late mortgage payments after the sale. The mortgage is normally reported as "paid as agreed", "paid as negotiated", or ...
The clock is ticking toward April 30th, 2010! Buyers must have a signed Purchase Agreement in 36 days to be eligible to qualify for the Tax Credit! This is real money from the government, not a deduction! A deduction reduces the adjusted gross income you pay taxes on, a credit is applied directly to the net owed the government, or, better yet, the amount of refund you are owed by the government!
So, ...
For homeowners struggling to stay current on a Bank of American mortgage, the news that BofA was going to begin forgiving mortgage loan principal must sound sweet. According to an article in Reuters, “homeowners who owe more than 120 percent of their home’s value or are battling ever expanding ‘negative amortization’ loans” could be helped.
Shortly after the news broke, ...