Michael Dougherty Blog

Arizona had Home Building construction jobs while Michigan built cars! Some of the jobs lost during the recession could be gone forever, and others likely won't be replaced until at least 2014. Many of the jobs shed during the downturn won't be coming back at all because: • Employers are getting ...

  Excellent blog Alan. Thanks for the info because many realtors are new to blogging they need to know what they say is on record and NEEDS TO BE CORRECT!!   Many time, over the last few years, in my experiences on Trulia and Zillow, someone will ask the question of we Realtors "What's the standa...

Excellent blog Alan. Thanks for the info because many realtors are new to blogging they need to know what they say is on record and NEEDS TO BE CORRECT!!Many time, over the last few years, in my experiences on Trulia and Zillow, someone will ask the question of we Realtors "What's the standard co...

Almost 50% in our State of Arizona are underwater and unemployment is very high. It is going to be along haul out!!!  As reported in a Realtor News article from their Source: The Wall Street Journal, Ruth Simon and James R. Hagerty (11/24/2009), more than 23 percent of people with mortgages owe m...

Linda I have attended many of those national cheer leading sessions and I agree. NAR needs to give us reality not sunshine and lollipops! I just returned from the National Association of Realtors convention in San Diego. NAR's chief economist Lawrence Yun spoke to a room packed with REALTORS® and...

I am seeing the pricing the bank puts on these homes to be HIGH!! I just lost a short sale to foreclosure -on market for 6 months at $199,000 with the best offer I received being $210,000. He went away because of the long wait. I had another cash offer at $200,000 and BofA rejected it as too low!...

I also had a person at Countrywide/BofA tell me to check Zillow to get an idea of the current market value because they couldn't tell me what their BPO came it at?? Unfreaking belieable!!!I was on the phone with a mitigator at Countrywide, discussing 2 of the listings I have that they are the len...

I have 2 recent short sales submittedto BofA some 60 days ago and still no negotiator?? I also have a case where they approved a short sale and according to them had the foreclosure on hold while the short sale was worked but they failed to notify the attorney who foreclosed anyway! I have escala...

Mortgage rates near record low By Holden Lewis • Bankrate.com Mortgage rates are near historic lows, but lenders continue to make it harder to get a home loan. The benchmark 30-year fixed-rate mortgage fell 16 basis points, to 5.19 percent, according to the Bankrate.com national survey of large l...

This explians why BofA drags out a short sale! Money, Money,Money to them!! I have succeeded doing short sales with other banks though!Lenders make more money on foreclosures than from short sales or loan modifications. That's what Steve Harney conveyed in a seminar. He caused an earthquake in Sa...