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house: Jodi Bakst Earns Designation as Short Sale Expert - 09/05/08 03:17 PM
I have been a Real Estate Broker for 11 years. As are you, I am very concerned about the mortgage crisis not only for its affect on the real estate business but more importantly for its affect on homeowners. The more important thing to understand is that not only are those with subprime loans affected, today we are seeing more and more defaults by homeowners with conventional, "A" paper loans.
Because of the magnitude of the problem, I am working toward gaining my designation as a Certified Distressed Property Expert (CDPE). My coursework will be completed and the designation earned by … (5 comments)
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house: The Mortgage Report - 09/03/08 06:40 PM
The Good News
According to the Federal Reserve, American homeowners saw their net housing equity-or the values of their property minus mortgage debt-grow from $6.2 trillion to $9.6 trillion from 2000 to 2007.
According to the National Association of Realtors, America is adding close to 1.5 million new households per year which will create an increasing demand for homes.
The Bad News
According to the Office of Thrift Supervision, nearly 2.3 million homes totaling 3 percent of the nation's housing stock, are vacant and on the market. This represents over a 10-month supply given current sales. Foreclosures and mortgage payment delinquency … (0 comments)
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house: Answering the Tough Questions - 08/25/08 04:41 PM
Today a prospective homeowner turns on the T.V. or picks up a newspaper and hears little about the housing market but doom and destruction. Foreclosures, mortgage-loan related bank failures, slow housing starts, and poor home sales dominate the news. Tougher credit requirements are now the norm as a remedy to further financial trauma for consumers and banks alike. All of this may lead a would-be buyer to quickly answer the question "Is now a good time to buy a home?" with a resounding "NO!"
Before signing that apartment lease for another year, a would-be buyer scared off by current events in … (0 comments)
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house: Eco-Friendly Siding Options - 08/22/08 07:01 PM
Sustainable siding needs to contain eco-friendly ingredients as well as be a product that will stand the test of time. When considering the eco-friendliness of a particular type of siding, make sure to account for any resins and adhesives that may have an off-gassing effect. Some popular green siding options include solid wood, fiber cement, metal, engineered wood, and stucco.
Solid wood: FSC-certified or repurposed wood products are the most environmentally friendly choices for solid wood siding. This renewable material does, however, require frequent maintenance. Fiber cement: Products like HardiePlankTM from James Hardie offer the look of natural wood with the … (3 comments)
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house: Thinking of Stucco? - 08/20/08 01:08 PM
In North Carolina, sellers are required to disclose if a house's exterior is actually artificial stucco-EIFS Stucco-instead of concrete stucco. EIFS is basically a form of styrofoam placed on the outside of the house with a "stucco" look-alike finish on the surface. While a house with EIFS can absorb the inevitable settling of the house over time without cracking, it does come with other hazards. Unfortunately, EIFS stucco applied on a wood-framed home (especially if not applied properly) tends to hold moisture inside the walls, which can cause the houses wood and frames to rot. If you fall in love with … (0 comments)
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house: Energy Efficient Windows - 08/15/08 04:53 PM
Energy efficient windows are available in many shapes, sizes, and styles-single pane, double pane, and triple pane, casement and double hung and more. There are energy efficient windows to meet any practical and aesthetic need. Energy conservation in the home is no longer limited to only the plain and functional.Not only are energy efficient everyday window styles easy to find, but there are many other specialty styles that use the same energy efficient technologies. For example, sliding patio doors and skylights can now be made of efficient materials, and bay windows can be built using various components of other energy efficient … (0 comments)
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house: Los Angeles Times Axes Real Estate Section - 08/14/08 05:23 PM
The following article was recently posted by Inman News.
Los Angeles Times axes real estate section
Expect continuing cuts in newspaper industry, says analyst
By Glenn Roberts Jr., Monday, August 4, 2008.
Inman News
The Los Angeles Times has ceased publication of its weekly real estate section -- born more than a century ago -- amid major staff cuts.
In mid-July, newspaper managers began to carry out the "largest staff and production cuts in the newspaper's history," according to an article in the Times, citing "a continuing slide in advertising revenue." The newspaper has a circulation of more than 1 million … (6 comments)
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house: Short Sales - 08/07/08 05:52 PM
What is and is not a Short Sale?
A short sale is an arrangement between a homeowner and their lending institution to accept an offer on the home for less than the total amount owed on the property.
A bank-owned house, or foreclosure, is not a short sale. A seller deciding to lower their price and take less profit is not a short sale. To have a short sale, one of the parties has to be "shorted"; either the seller or the bank.
To further explain the difference; with a typical foreclosure situation, homeowners fall behind in their payments and the … (2 comments)
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Team Jodi - Chapel Hill Real Estate, Durham Real Estate
Chapel Hill,
NC
More about me…
Jodi Bakst, Broker @ Chapel Hill Realty
Address: 6011 Farrington Road, Ste 102, Chapel Hill, NC, 27517
Cell Phone: (919) 697-5014
Email Me
If you are buying or selling in Chapel Hill, Carrboro, Durham, Hillsborough, Durham or Orange, Durham or Chatham Counties, you have come to the right place. Jodi Bakst and her Team of Real estate specialists provide seamless customer service for our buyer and seller clients throughout their relocation or move.
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