real estate market: The Luxury Home Opportunity
- 07/16/12 05:08 AM
Since the beginning of the housing market crisis, the most common image in Americans' heads of a foreclosed property exhibited a house that was owned by a middle-class family struggling to make ends meet. However, there is a rapidly growing segment of homes that are struggling as well... luxury homes. In the latest CDPE Member Broadcast, Alex Charfen discussed the growing number of homes worth over $1 million that are going into the foreclosure process. According to RealtyTrac, In 2007 there were 5,632 homes in foreclosure—just 0.5% of all foreclosure activity. That number jumped 17% higher to just over 33,000 in … (3 comments)
real estate market: Is Buying a Home Cheaper than Renting?
- 07/03/12 08:11 AM
Last month, the Joint Center for Housing Studies of Harvard University released their State of the Nation's Housing report for 2012, which revealed a growing trend in the housing market. From 1973 to 2008, it was cheaper on a monthly basis to rent instead own a home. However, since 2008 the affordability of owning a home has continued to decline and is actually cheaper now than renting. Watch Alex Charfen's latest video blog to learn more about this trend in the housing market. If you're interested in learning more about short sales, you can download this FREE report from CDPE by … (3 comments)
real estate market: Lenders Providing Large Cash Incentives to Homeowners for Short Sales
- 02/27/12 03:46 AM
For awhile now, we’ve instructed agents on government incentives available to distressed homeowners who opt to do short sales. Such programs include the Home Affordable Foreclosure Alternatives (HAFA) program, which provides up to $3,000 to assist the borrower with relocation fees. In recent news, major publications including USA TODAY and CNNMoney have spotlighted the incentives provided by banks. These incentive programs, which offer anywhere from around $2,000 to upwards of $35,000, are intended to provide homeowners with the resources and motivation to pursue a short sale. As banks look to ramp up short sales, such incentives are becoming more frequent. JPMorgan … (2 comments)
real estate market: Fannie Follows Freddie's Lead in Extending Forbearance Period for Unemployed
- 01/17/12 09:17 AM
Fannie Mae revealed its new Unemployment Forbearance Program, which mortgage servicers are required to implement by March 1 for all Fannie Mae-owned and backed loans. Servicers can now provide up to six months of relief for eligible unemployed borrowers without Fannie's review and approval. Borrowers may also apply for an additional six months of forbearance, for a total of 12 months. Fannie's announcement follows a similar move by Freddie Mac. To find out if your loan is backed by either GSE, use the "Fannie Mae Loan Lookup" or "Freddie Mac Loan Lookup" tools on the Useful Links section of our website. … (1 comments)
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