real estate: Is It The Property? The Value? Or the Payment? That owners are distressed over.
- 01/09/10 06:15 AM
Here's a question: Why aren't the mortgage servicing companies pushing to get more modifications? The answer might be because they are servicing this note, and will probably service the new one, too - they get paid either way. So who benefits from a loan modification?
The problem for many owners of property may not be the house or the value, as much as it is the payment. With layoffs and decreased incomes, many people would stay in their house if they could afford the payment. Some owners are only trying to get the payment reduced to a level that they can pay. Their … (3 comments)
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real estate: Quincy Adams Builders Pymouth County MA
- 12/22/09 01:45 AM
I recently met Tony Antonellis of Quincy Adams Builders. He and his staff were completing the remodel of a home right on the coast in Marshfield, MA. The crew that Tony has assembled works hard to get the job done right with the correct materials.
One thing I got to see was the way windows need to be installed when you are very close to the water. The window has to be rated for high wind, and there are a few extra procedures for their correct installation. High wind windows are one way to meet the regulations when close to the water, … (1 comments)
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real estate: R U having Trouble With Indy M ac?... Court Cancels This Loan
- 12/06/09 09:17 AM
There was a legal case in New York recently that, although unique in some of its merits, opens the door to a public discussion. The case contains legalese and a clouded view of the problems with the current Owner of a loan/Servicer of a loan/Borrower triangle. But there are some interesting, discussable points that result in the debt being discharged.
In the case linked below, a borrower has made repeated efforts to make arrangements to work out the debt she owes. The Court also tries to get the servicing company to meet and negotiate a resolution to the debt. In the end, however, the servicer is … (1 comments)
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real estate: NF King And Sons, Excavation and Septic System Inspection
- 12/02/09 11:14 AM
I met Neil King this week in Plymouth. He and his sons and nephew are hard working and local excavation specialists. They also inspect septic systems.
One of the necessary inspections for selling a home in MA is a Title V septic inspection. The section of the MA laws governing septics is called Title V, so many people ask me, "Is this a Title V system?" In fact, the answer to that question can be misleading.
A better question, and more correct is, "Does this system pass the Title V inspection criteria?" And that one should be followed up with, "When … (0 comments)
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real estate: Appleseeds Clothing Catalog Films in Falmouth MA!
- 11/19/09 01:01 PM
A short while ago I noticed a pretty woman sitting on a bench outside my Cape Group real estate office . Of course I notice pretty women, but this one had cameras and light screens and a crew all around her. It was like a version of Cape Cod's Next Top Model.
I watched for a few minutes and then asked what the pictures would be used for. It turns out that this was for the Appleseeds Clothing store catalog. They chose a few more locations on Main Street in front of a few different shops and restaurants.
I asked how … (2 comments)
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real estate: O'Connor Painting Is Known For Nice Work
- 11/18/09 07:07 AM
I recently met Dave O'Connor of O'Connor Painting in Plymouth, MA. He has been painting real estate for decades. I have included a few pictures here so you can see some of the finished work he has done. Whether you need a whole house painted for selling or just some professional touch ups, he and his crew take pride in doing it right and on time.
Dave also has a "secret" formula and method for brightening weathered shingles. Power washing should be done correctly so the shingles aren't damaged. The formula for brightening shingles needs to be strong enough to brighten … (1 comments)
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real estate: Author Looking Buyers Who Bought A Condo At Auction
- 11/17/09 10:06 PM
Do you want to be "seen" on MSN real estate - possibly? If you have bought a condo, or helped a buyer buy one, at an auction, this reporter would like to interview you. Her focus is in a few particular markets, so read her request below.
Jane Hodges is a freelance writer working on a story for MSN real estate. Here is her description of who she would like to talk to:
I'd like to interview home buyers and individual investors who have purchased a condo at auction for an upcoming MSN Real Estate story. I need to find people who have … (0 comments)
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real estate: Real Estate Is Not A Dirty Job, But These Jobs Are!
- 10/26/09 02:20 AM
If you think real estate is not easy, watch this! The tv show Dirty Jobs has a YouTube that summarizes some of their episodes. When you're feeling overwhelmed, watch it and be grateful! Some people work in far more dificult jobs. I had a good laugh at some of them.
This is an amazing country. There are jobs that go on all the time that are beyond our imagination, until you see them on tv. Then you're kind of moved to comment like the guy on Dirty Jobs, "Well, I guess that does need to be done by someone." I … (3 comments)
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real estate: Falmouth MA 40B Project List
- 10/20/09 02:58 AM
Have you ever wondered where the 40B (low income) developments are in Falmouth. The list below was provided to real estate professionals recently. The list includes the developer/applicant, acreage, zoning information, number of units, etc.
Some people don't want to be in or near a 40B subdivision. Their perception is that a 40B development is like the infamous "projects" so many cities have. But, this is not correct.
A 40B project is known as a "low income" development. This is not the same as Section 8 income assistance. In a 40B development, 25% of the properties for sale are made available to buyers who have … (0 comments)
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real estate: MA Court Rules That A Foreclosure May NOT Be A Foreclosure!
- 10/16/09 07:13 AM
Massachusetts has joined the list of states with "foreclosure confusion". A judge ruled yesterday that because a bank did not prove it owned a couple of loans before it foreclosed on them, the foreclosures are not valid! Oops - to say the least.
In one of my blogs last year: http://activerain.com/blogsview/525644/More-Foreclosure-stuff-MERS-Mystery I tried to summarize what my research on MERS had shown me. It seems that these two loans were both examples of that kind of "lost paperwork".
This judge's decision raises some questions. 1) If banks now have to prove ownership before they foreclose, will that delay the foreclosure process? 2) If … (0 comments)
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real estate: Hollywood East Founder (Past President of Paramount) Answers Common Questions
- 10/12/09 05:26 AM
Here is a current interview with David Kirkpatrick. He is a past president of Paramount and one of the founders of Hollywood East. These are brief answers to questions everyone is asking. (And the names of those asking the questions are a good reminder to choose a good online name.)
Here is the link:
http://www.hollywoodeasttv.com/video/conversations-david
Find more videos like this on Hollywood East TV
He answers common questions on many people's minds like when "you" could begin working at the studios!
… (0 comments)
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real estate: Cape Cod Housing Stats
- 10/10/09 05:40 AM
Preliminary Cape Cod & Island MLS Statistics for September 2009 compared with September 2008:
Total number of transactions is down 13%
Total dollar volume is down 7%
Single family sales are down 11% and median price is now $329,000
Condominium sales are down 8% and median price is now $235,000
Pending sales for September 2009 (445) are higher than they were in September 2008 (367) and higher than they were in August 2009 (367)! So there is good news on the horizon!
Most offices here on the Cape are reporting more properties going under agreement and more customers out looking!
… (1 comments)
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real estate: Does Your Mortgage Originator Have A "Unique Identifier"?
- 10/10/09 05:35 AM
According to the Board of Governors of the Federal Reserve System every mortgage originator is now going to be fingerprinted, registered in a registry, and tracked through their life as an originator. This is evidently intended to monitor the originator and the loans they write.
If you ask your mortgage originator for their "Unique Identifier" and they don't know what you mean, they may not be current on the developments in their industry. The answer should be, "That isn't in effect yet, but I will get it to you when I get one."
Once more, government is making everything we do … (0 comments)
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real estate: Planning To Work At Hollywood East?
- 10/09/09 04:23 AM
If you're planning to work at the Hollywood East studioson the East Coast, then you'll need comfortable real estate on Cape Cod! Here is an example of a peaceful and private spot that could become a haven while you're finishing your next movie at the Plymouth Rock Studios.
Expansive views of sunsets will make you think you're on the west coast! And the New England charm of this 8500 square foot residence will remind you of fun movies like Jack Nicholson and Diane Keaton in Something's Gotta Give. This pleasant getaway is under $7 million!
Work hard then relax easy! Places like … (2 comments)
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real estate: Could Mortgage Companies or Banks Do This Instead of Foreclosing?
- 10/02/09 01:53 AM
Could the Mortgage Companies do this? Instead of foreclosing on a property, what if they re-write the loan in the following way:1) keep the principle amount the same.2) lower the rate to today's lower rate.3) and amortize for 40 years.
Why would they?1)A) principle of the note stays the same for the future payoff. 1)B) Keeping the principle the same means that the borrower needs to stay in the property until the market re-appreciates to the value of the principle to avoid selling at a loss. This means more people will stay put, and at the same time, be able to pay … (2 comments)
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real estate: Renters Can Lose $8000 This Year on December 1!
- 09/29/09 12:32 AM
If you are renting on December 1, 2009 you just lost $8000. Here's why!
People who have not owned a home in the last three years are called First Time Buyers by the US Government. Those First Time Buyers can get $8000 IF they close on a property before December 1, 2009. So how much house can a renter buy?
One of the old calculators I use shows how much real estate a person with the following income levels might be able to purchase.
The numbers below are as follows: Annual Income (AI), Monthly Income (MI), Maximum Monthly Payment (MMP), Other Monthly Debts … (0 comments)
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real estate: Dryer Can Be A Fire Hazard - If you Don't Clean
- 09/25/09 05:15 AM
How often should you move the dryer and vacuum around the laundry room - even the walls? The professionals say twice a year. Maybe if you plan to do it twice a year you will get it done once. This is in addition to removing the vent hose to clean the lint build up in it.
Electric dryers and gas dryers should be cleaned more often when there are a large number of loads being done. Do you at least clean the lint screen when you put a new load in? That can reduce the time it takes to dry a … (1 comments)
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real estate: Hollywood East Secures Financing!
- 09/24/09 12:13 PM
Hollywood East, the brain child of some experienced movie executives from Californiahas secured their construction financing! What does this mean? JOBS JOBS JOBS!!!
Not only are there construction jobs coming soon, but the 14 sound stages, 10 acre back lot, production facilities, offices, hotels, and shopping area will bring in more than 2000 jobs after construction. When you add the ancillary businesses and opportunities that will come to this area as supporting jobs, there could be as many a 20,000 new jobs.
Coupled with the new interest from notable people who want to have a home to use while they are doing … (0 comments)
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real estate: New Acceptable Radon Levels Published by W. H. O.
- 09/24/09 12:39 AM
The World Health Organization has decided that the acceptable level of Radon in a property is now 2.7 pCL/l instead of 4.0 pCL/l. This means that MOST of the US is now a Zone 1. The old Radon map of the US currently shows three zones with Zone 1 indicating possible levels of Radon exceeding the 4.0 range, zone 2 ranges from 2 to 4 pCL/l and Zone 3 are the areas of less than 2.
So the new map, when it is redone, will indicate 2 zones: areas of over 2.7 and all the other areas.
If you want to see … (6 comments)
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real estate: A Call to Action For NAR Members
- 09/22/09 01:45 AM
I blogged about extending the $8000 tax credit to first time home buyers yesterday. Today I found a link for the call to action from the NAR. If you are an agent, a broker, a consumer, a renter, or someone else who can use this program, please use the letter to encourage your government reps to extend the credit.
I am not sure if more than one extension will be necessary, but there are many consumers who are just waking up to the available credit and how it could help them buy a home. Traditionally, interest rates rise in the second … (1 comments)
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Here's a question: Why aren't the mortgage servicing companies pushing to get more modifications? The answer might be because they are servicing this note, and will probably service the new one, too - they get paid either way. So who benefits from a loan modification?
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