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orlando short sale realtor: U.S. sales of REOs and short sales up in 1Q - 05/31/12 11:04 AM
Bank-owned homes and those in some stage of the foreclosure process saw their share of overall U.S. home sales grow in the first quarter. The increase was driven by a spike in short sales, or homes that sell for less than what the owner owed on their mortgage, foreclosure listing firm RealtyTrac Inc. said Thursday. Short sales make up the vast majority of homes sold while still in the foreclosure process.
Those that aren’t sold or auctioned off typically end up being repossessed by banks, what most people commonly think of as foreclosures. In the first quarter, short sales grew 25 … (0 comments)
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orlando short sale realtor: Orlando Real estate drops but second home market may see increase - 02/09/12 10:35 AM
Despite the fact that 30-year mortgage rates are under 4 percent and home prices have remained low, many people can’t take advantage of increased housing affordability. Recovery will be slow, according to Karl Case, co-founder of the S&P/Case-Shiller home price index, with many homeowners struggling not to lose their property.
Rather than relocate, many homeowners are improving their existing residences, with the National Association of the Remodeling Industry expecting $113.6 billion to be spent on remodeling through the third quarter. However, experts predict a growing number of baby boomers will snap up vacation and rental properties in the coming years, with … (0 comments)
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orlando short sale realtor: Freddie Mac updates short sale rules - 12/10/11 08:42 AM
While mortgage giant Freddie Mac changed affidavit rules for short sales as previously reported, it also made other adjustments to short sales that lenders must follow.
According to Freddie Mac’s latest bulletin, those changes also include:
• Short sale negotiation fees cannot be deducted from the proceeds of the sale or charged to the seller…
• Amounts paid to any party in connection with the short sale transaction must be reflected on the HUD-1, with the amount and recipients clearly identified.
• A seller may receive a payment after the sale only if it’s is offered by the servicer, approved by … (0 comments)
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orlando short sale realtor: Years of foreclosures ahead - 11/23/11 09:32 AM
The housing market faces several more years with 800,000 to 1 million new foreclosed properties per year, according to Rick Sharga, an executive vice president with Carrington Mortgage Services. Sharga recently left RealtyTrac, where he helped build a network that tracked foreclosure filings across the country. Recently, analysts at Bank of America Merill Lynch estimated REO sales would peak until 2013 when nearly 1.5 million properties would be sold.
According to RealtyTrac, there have been 8.9 million homes lost to foreclosure since 2007, the height of the credit crisis. Sharga said based on lender behavior, he doesn't see a spike … (0 comments)
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Jerry LaRose, Realtor, Short Sale Expert Orlando, Florida Real Estate Short Sales
Orlando,
FL
More about me…
Keller Williams Realty mailto:jerry@jerrylarose.com
Address: Orlando, East Orlando, Windermere, Winter Garden, Kissimmee, St. Cloud, , Altamonte Springs, Maitland, Longwood, Apopka, Ocoee, Lake Mary, Sanford,, Orlando, Fl., 32822
Office Phone: (407) 580-7011
Cell Phone: (407) 580-7011
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