homes: Looks Like Bidding Wars Are Making A Comeback
- 05/09/12 09:06 AM
How often have you heard this phrase from a listing agent? "We have multiple offers on this property" Have your buyers offered, counter-offered, countered again? One might think this is a sign of the market getting better. In some ways it is, but for the most part, supply is low and demand is high. The lower inventory numbers can be accredited to many sellers not accepting the current value of their homes, looking forward to a bump in list price in the future. Investors are also running over buyers making cash offers that sellers are quick to accept. While Fannie and … (0 comments)
While analysts debate when the housing market will hit bottom, for a surprising number of cities the turnaround has already begun. In December, prices rose in 109 of the 384 metro areas tracked by data firm CoreLogic. Making sense of the storyThere are certain signs to help determine if a particular neighborhood is on the verge of a rebound. For instance is local employment on the upswing? That’s a critical factor for a region to get itself on the path to recovery. Improving jobs picture has led to shrinking housing stock … (4 comments)
homes: Low Inventory Creates Buying Frenzy Going Into Peak Real Estate Season
- 04/19/12 06:29 AM
I read this article from CAR.org today and want to share it with you. Is this the recovery we've been waiting so patiently for? I have 2 buyers in escrow right now that had to beat out steep multiple offers on every descent property they wanted. In addition, I have received multiple offers on all 7 listings that I currently have within days.
You can read the article below and I have posted the link for you to view the charts included for your information.
From CAR.org - April 16th, 2012 http://www.car.org/newsstand/news/march2012sales March home sales and price … (0 comments)
homes: The Recyclable House - Green Deconstruction vs. Demolition
- 11/27/11 12:08 PM
The Recyclable House - Green Deconstruction vs. Demolition As I was completeing the educational requirements for my NAR GREEN Designation, I learned of a new and uncommon practice that is beginging to gain recognition accross the country among "GREEN" the construction industry.
Check out this awesome article I found about Ken Ortiz, the only certified deconstructionist in the midwest. What he's doing is amazing! This article is full of great links to other GREEN resources as well. http://www.chicagoreader.com/chicago/the-recyclable-house/Content?oid=1109143
The Recyclable House - Green Deconstruction vs. Demolition … (3 comments)
homes: Mortgage Lender's Top Red Flags
- 11/15/11 03:09 PM
Mortgage Lender's Top Red Flags. In an effort to issue quality loans that will actually become a performing asset to banks, lenders have stepped up their fraud prevention and are heavily scrutinizing mortgage applications. The research firm CoreLogic estimates that fraudulent residential mortgage originations will total $7.4 billion in 2011, nearly 40% lower than the $12 billion in 2012! Investigations typically begin the moment an application is received. The lenders verify your Social Security number and often check to see if a borrower's name shows up on the government terrorist list! They will check credit reports and verify employment and then … (3 comments)
homes: Consumer confidence down, retail sales up!?
- 10/21/11 02:21 PM
Consumer confidence down, retail sales up!? Apparently Consumer confidence is way down according to recent reports, however retail sales are up! Hmmm....Doesn't add up right? Where is the money for these shopping sprees coming from? Maybe its actually coming from looming foreclosures. Some Americans have figured out that they can stay in default int their homes that they're upside down on for an extremely long time NOT paying their mortgage and in some cases even get paid by the bank after a foreclosure to move out in a "cash for keys" agreement. I guess not paying mortgage in some cases up … (2 comments)
homes: Free Money?!
- 10/03/11 05:36 PM
Wow! The sky is falling and its raining low interest rates!! I know we've all been hearing about the "historically" low interest rates for years now but OMG for qualified buyers, money is practically free! Did you know you could lock in a 30 year fixed rate conforming mortgage right now, pay no points, and most likely very little closing costs for 4%? Thats FIXED for 30 years people!! Heck you can pay 1 point & get yourself a 3.75% fixed rate on a 30 year fixed. I always hear people tell me how they are waiting for the right time … (4 comments)
How often have you heard this phrase from a listing agent? "We have multiple offers on this property"
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