What is the difference Buying a Short Sale VS a Bank-owned REO? - 10/31/11 05:36 PM
 
A short Sale is the sale of a home in which the seller’s mortgage lender agrees to accept a payoff of less than the balance due on the loan(s). The process starts when a seller who is  behind in his payments attemps to sell his house before the bank takes the property through foreclosure. To do this, the Real Estate Agent negotiates with the bank to afree to sell the home for less than what is owed on the property.
 
REO stands for “Real Estate Owned” and is another way to refer to a “Bank Owned”m property. This is … (0 comments)

Whats Happening in Newport next weekend? Join us - 10/30/11 06:37 PM
"From Chopin To Show Tunes" - A Live Cabaret
 
November 06, 2011 1221 West Coast Highway | Newport Beach, CA 92663 949-630-4120 | The Balboa Bay Club & Resort | Visit Website
Categories:Arts & Culture
 
This is an extraordinary showcase of homegrown talent featuring concert pianist Sonya Lee and the exceptional vocal talents of Melina Kalomas. Both are Orange County natives. A graduate of The Juilliard School, Ms. Lee has performed at world-renowned concert halls including Carnegie Hall's Weill Recital Hall, Alice Tully Hall at Lincoln Center, the Wheeler Opera House, and abroad. Ms. Lee's flawless piano technique paired … (0 comments)

Renters Spending 5% More Than Home Owners - 10/26/11 01:58 PM
  Daily Real Estate News | Wednesday, October 26, 2011 <!-- /.section-date-author --> <!--<pre><?/*php print_r($node);*/?></pre>--> <!--paging_filter--> Rising rents are forcing renters to outspend home owners on housing costs, according to a new study.
Since 2005, home owners’ housing expenses have climbed from 31.9 percent of their household budget to 33.2 percent. On the other hand, in that same time period, renters’ expenses have jumped from 35.6 percent to 38.4 percent, according to the October CoreLogic U.S. Housing and Mortgage Trends.
In the last 26 years, home owners have increased the amount they spend on household expenses by 12 percent while renters … (0 comments)

Could Loan Limits Be Restored? - 10/21/11 06:44 PM
  Daily Real Estate News | Friday, October 21, 2011 <!-- /.section-date-author --> <!--<pre><?/*php print_r($node);*/?></pre>--> <!--paging_filter--> The Senate voted on Thursday to attach a proposal to a spending bill that could restore the size of loans the government buys or insures to a maximum mortgage amount of $729,750 in many markets.
The higher conforming loan limits expired at the end of September, reverting to a maximum amount of $625,500, despite mass calls from the industry that doing so could potentially weaken the housing market, particularly in high-priced areas.
The lower loan limits are making it more difficult for “middle class home … (0 comments)

Are Banks Getting Better on Short Sales? - 10/21/11 10:06 AM
Daily Real Estate News Are short sales getting easier? Some home owners are reporting that banks are now not only more willing to consider a short sale, but are even offering incentives to complete a short sale. For example, a home owner in Chicago says his lender approved his short sale and then gave him a $20,000 check after the deal was finalized for selling the home as a short sale instead of letting it sink into foreclosure.
Lenders accepting a lower mortgage payoff from an underwater seller traditionally isn’t thought of an easy transaction to complete. Lenders weren’t so willing … (1 comments)