house in san diego: San Diego Short Sales: Why Is Everyone So Negative About The Housing Market?
- 07/03/11 02:59 PM
Eastlake CA – The tax credit expired and everyone turned negative on the housing marketing. One so called expert said we could see headlines about the real estate market crashing again. Another said that the housing market is going to continue it's decline for another years or two. He referenced an article that showed that mortgage applications dropped by 9.5 percent the first week after the tax credit expired. Get my Free, Step By Step Loan Modification Guide by clicking here. I don't want to apply for the job of "Amateur Economist." Here are a few examples I found of … (1 comments)
house in san diego: San Diego Short Sales: Bank won’t allow my seller to avoid short sale process
- 06/26/11 12:44 PM
Eastlake CA – The Stop Foreclosure Institute recently received a question from another agent. Apparently they were being mislead on a short sale by a large national lender. Here is the question we received: “Do you have a number to contact Fannie Mae? The bank (Large National Bank) will not allow the seller to not do a short sale and agree to repay the loss on a promissory note. She said that she has to talk to the investor which is Fannie Mae. My sellers just wants to sell and move on with their life. Janet.” Get my Free, Step … (0 comments)
house in san diego: How Long Do I Have To Wait After A San Diego Short Sale To Buy Another Home?
- 06/10/11 10:13 AM
Eastlake CA – The Stop Foreclosure Institute gets asked this question quite a bit. The answer depends on the type of loan you are looking to use to purchase your next home. Here are the details on your options to buy another home after a short sale. Get my Free, Step By Step Loan Modification Guide by clicking here. Owner Financing. You can buy a home with owner financing anytime after a short sale. FHA Financing. (FHA is very popular because it only requires you to put down 3.5% and pay your closing costs. You can usually convince the seller … (3 comments)
house in san diego: Homes are dirt cheap....I am serious!
- 06/06/11 09:48 AM
Home prices still very affordable. Moving from Europe back home to the US, we also received new data last week on home prices across the country. According to the 20-city Case-Shiller Home Price Index, prices were down 0.8% in March. Overall, foreclosures and bank-owned sales continue to weigh on housing - and are expected to do so for a couple more quarters. That said, the housing market is very localized, so only a local real estate professional can help you understand where home prices are at in your community - let me know if you need a referral to someone … (4 comments)
house in san diego: Are we softies??
- 06/06/11 09:46 AM
Manufacturing slowing? New data on the manufacturing sector of the economy also indicated a possible slowdown, as the Chicago PMI and the ISM Index - which both measure manufacturing - came in below expectations. Rumors of a bailout lower the US Dollar. In news across the pond, reports came out last week that Germany is putting together a plan to bailout Greece. The plan would "kick the can down the road" a little longer for Greece, allowing them more time to figure out a strategy to get their debt in order. As a result of these bailout hopes, the Euro … (1 comments)
house in san diego: Volatility was extremely high last week -
- 06/06/11 09:45 AM
not just in the financial markets, but also in the economic reports and economic outlook. The big news of the week was the official Jobs Report, which came in well below expectations. In fact, in the private sector alone, the report indicated that only 83,000 jobs were created in May - and that number was almost 100,000 less than expected! Although the Hourly Earnings component of the report came in a little better than expected, the overall report was just plain bad. Even for a market hungry for good news, there was no way to spin this report. Now the markets … (0 comments)
house in san diego: Slow down, its going too fast.......really?
- 06/06/11 09:43 AM
Maybe the economic recovery is taking acue from these 1960's lyrics by Simon and Garfunkel, as the economic recovery seems to be in a sluggish state at the moment. And while it doesn't leave too many Americans "feelin' groovy," there are some amazing opportunities at hand in housing. Here's what you need to know about the economy and housing industry - along with one sure thing about the current situation. … (1 comments)
house in san diego: Eastlake Short Sales: How Do You Handle Multiple Offers?
- 06/03/11 06:02 AM
Eastlake CA – The Stop Foreclosure Institute recently received a question from another agent. Here was her question. "I have a short sale listed. At what time in the short sale process do you stop accepting additional offers for submittal to the lender? If you accept another offer after you've already submitted one to the lender, does it reset your timeline to the beginning? Do you just put them in backup position? What about the poor buyer whose offer was submitted and has already been waiting for weeks for lender approval? Do you allow them to match the higher offer? … (2 comments)
house in san diego: Common Eastlake Short Sale Myth: Short Sales Are Difficult And Banks Never Approve Them
- 06/03/11 05:51 AM
Eastlake CA – The Stop Foreclosure Institute recently talked to a homeowner whose home had been sold on the courthouse steps. We asked if she had considered selling the home as a short sale. “I did, but I heard that short sales are difficult and not worth trying. My friend told me that the banks never approve them”, she told us. Get my Free, Step By Step Loan Modification Guide by clicking here. After we got off of the phone, we reviewed what she had lost. She lost the opportunity to protect her credit and to be able to buy a … (1 comments)
house in san diego: San Diego Real Estate: News on the real reason for Navy to throw Osama's body to the ocean!!!!! SURPRISING TRUTH!!!
- 06/02/11 05:54 AM
The CIA employed stealth drones to keep tabs on Osama bin Laden's Pakistan compound for months before the SEALs strike that killed him May 2. The unmanned aircraft were designed to operate at high altitude and evade radar detection, The Washington Post reported. The CIA monitoring also included satellites, eavesdropping equipment, and the previously disclosed use of operatives placed in a safe house in Abbottabad, Pakistan. The CIA flew the stealth drones into Pakistan "because they needed to see more about what was going on," sources told the Post. The Air Force first acknowledged the existence of stealth drones in 2009 … (0 comments)
house in san diego: San Diego Real Estate: Great Tax Tips that you wished someone had told you before
- 06/01/11 09:48 AM
Taxpayers who owe taxes may be relieved to know that there are some options for those who owe and can't afford to pay the full amount right away. Here are the top 10 things the IRS wants you to know if you need more time to pay your taxes. Taxpayers who are unable to pay all taxes due are encouraged to pay as much as possible. By paying as much as possible now, the amount of interest and penalties owed will be less. Based on the circumstances, a taxpayer could qualify for an extension of time to pay, an installment agreement, … (0 comments)
house in san diego: San Diego Real Estate: What in the world can we expect this week to happen?
- 05/31/11 05:22 AM
After interest rates fell last week the market will likely have some hurdles to deal with. This is employment week with early estimates of non-farm job growth of 185K and non-farm private jobs up 220K. Although those are early estimates they seem to be much higher than what we think, but we won't fight it as employment is always a wide range of estimates. Prior to the May employment on Friday markets will deal with a number of data points; both ISM reports (manufacturing and servicing), the Chicago purchasing mgrs index, Q1 productivity and unit labor costs. News over the weekend … (0 comments)
house in san diego: San Diego Real Estate. Bringing great News for you!!!
- 05/30/11 08:53 AM
New home sales during April enjoyed an upward trend, according to the latest figures from the Census Bureau released last Tuesday. Sales of new single-family homes in April hit an annual rate of 323,000, which was 7.3 percent over the revised March rate of 301,000. That said, April's rate was still 23.1 percent below April 2010's estimate of 420,000. The median sales price of new homes sold during April was $217,900, and the average sales price was $268,900. The seasonally adjusted estimate of new houses for sale at the end of April was 175,000, which represents a supply of 6.5 months … (0 comments)
house in san diego: San Diego Real Estate: Great information about our not beloved IRS!!!
- 05/28/11 08:22 AM
1862 - President Lincoln signed into law a revenue-raising measure to help pay for Civil War expenses. The measure created a Commissioner of Internal Revenue and the nation's first income tax. It levied a 3 percent tax on incomes between $600 and $10,000 and a 5 percent tax on incomes of more than $10,000. 1867 - Heeding public opposition to the income tax, Congress cut the tax rate. From 1868 until 1913, 90 percent of all revenue came from taxes on liquor, beer, wine and tobacco. 1872 - Income tax repealed. 1894 - The Wilson Tariff Act revived the income tax … (0 comments)
house in san diego: San Diego Short Sale: How To Send A Fax To Everyone In Congress
- 05/28/11 08:10 AM
Eastlake CA – Bank of America is consistently the worst short sale lender we have dealt with. A lot of people sent me e-mails such as the following: "You need to stop complaining. If you think having to re-open a file is bad, imagine working on a file for 8 months." Get my Free, Step By Step Loan Modification Guide by clicking here. They have the resources available to make the changes. Bank of America, Wells Fargo, JP Morgan Chase, and Citigroup all issued stock to pay off their bailout. Paying off the bailout cost all of these banks their fourth … (0 comments)
house in san diego: San Diego Short Sale: My Lender Is Charging The Buyer A Fee To Buy My House
- 05/25/11 05:27 AM
Eastlake CA – The Stop Foreclosure Institute recently received a question from Brandon. Brandon is selling his house and something very interesting happened. Brandon’s Question: "My loan is with American Home Mortgage (AHMSI for short.) They are charging a 1% short sale processing fee to the buyer. Is that legal? The buyer is upset. They have stipulated that ONLY the buyer can pay the fee. This was never revealed until the short sale approval letter arrived. Brandon." Get my Free, Step By Step Loan Modification Guide by clicking here. Our comments on this. Yes, the buyer is upset. Buyers think they … (0 comments)
house in san diego: World News
- 05/24/11 05:42 AM
Democratic senior statesman Ed Koch says Israel is facing its "most dangerous and critical period" and he is ready to break with his party in the next presidential election over President Barack Obama policies on the Middle East. In an exclusive interview with Newsmax.TV, the former New York City mayor said, "Mitt Romney correctly summed it up when he said that President Obama has once again thrown Israel under the bus." … (1 comments)
house in san diego: San Diego Short Sale: Are The Banks Lying To Uncle Sam
- 05/24/11 05:31 AM
Eastlake CA – The Stop Foreclosure Institute recently received an e-mail from another real estate agent. They were asking for our advice on a short sale. They accused a large, national lender (one of the 4 largest in America) of lying to Fannie Mae. Fannie Mae is almost a subsidiary of the Federal Government. Here was the e-mail they sent us. " The lender told the seller that they had to agree to a deficiency or the short sale would not be approved. The seller said that was unacceptable. They told us they wouldn't go thru with the short sale … (2 comments)
house in san diego: This Week
- 05/23/11 05:58 AM
Its mostly about the treasury auctions and how well the bidding is when Treasury sells $99B of 2 yr, 5 yr and 7 yr notes Tuesday thru Thursday. Last week the bond and mortgage markets ended better on the week but the action thru the week was volatile. Tuesday thru Thursday markets were much more active; the continual failures of the 10 yr note to break 3.14% on a close finally shot up on more technical reasons than anything else; the Fed minutes confirmed the the Fed would is not and will not consider further easing as the economy stands now. … (0 comments)
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