kammeyer realty group: Understanding the Short Sale Process - How Long Does the Process Take?
- 03/02/10 11:42 PM
When the housing market and economy collapsed, suddenly they became overwhelmed with cases. At the same time, those banks suddenly experienced a huge loss of revenue. Some failed. Others were bought out. The result? Very lengthy processing times because those negotiators/analysts have more cases than they can handle quickly. The banks are adding to staff, but some can't afford to add and train them fast enough. Can't afford? That's their perspective. Actually they are held accountable to board members and shareholders to maximize profits. Whether they can afford to or not, many may disagree. Bottom line, the loss mitigation department, which … (2 comments)
kammeyer realty group: Understanding the Short Sale Process - Understanding Who the Lenders Are
- 02/28/10 11:30 PM
When a homeowner buys a home, he or she obtained the money from their mortgage company. However, that mortgage company is out a lot of money. They could not finance too many loans by paying $100,000, $200,000, or more every time they finance a home. That is why the government originally established a secondary market which would purchase the loan from your lender, thereby pouring more investment dollars back to them to finance new loans. The entities on that secondary market are called secondary market investors (SMI). When the servicing lender (SL) sells the loan note to the SMI, the SL … (3 comments)
kammeyer realty group: Understanding the Short Sale Process - Preparing & Submitting the Proposal
- 02/24/10 10:56 PM
Most of the time, the proposal will be submitted by fax to the servicing lender (SL). On some occasions, it will be shipped, which may take up to a week for them to receive and post. Even when the proposal is submitted by mail, it may take 3 -7 days for the lender to get into their computer system. They will have an incoming fax department who receives the fax and then images each page into their computer system. When the proposal contains more than 100 pages, this is time-consuming, even with great technology. Some of these entities are very easy … (2 comments)
kammeyer realty group: Understanding the Short Sale Process - Preparing Purchase Contract
- 02/21/10 11:40 PM
When a purchase contract is submitted as an offer, that offer must meet the short sale requirements, which is then accepted by the sellers. If you have an agent who is experienced with short sales, they will understand and help the buyers meet those requirements. Sometimes great agents who just have not worked with short sales in the past may not understand the reasons or the process. What are those requirements? First, the buyer should add a statement: "Buyers understands and agrees that acceptance of this offer is subject to third party lender approval within 120 days". Why 120 days? Because … (3 comments)
kammeyer realty group: Understanding the Short Sale Process - What to Offer
- 02/17/10 11:18 PM
It used to be the case, that lenders would use an REO vs. short sale analysis to evaluate whether to approve a short sale. REO means Real Estate-Owned, or Bank-owned which just means that the bank has foreclosed and seized the property, and they are now selling it themselves. So, after calculating the cost of seizing the property, maintaining it, paying for utilities & upkeep, and paying the agent fees for selling it, if the short sale offer was greater than their expected cost of seizing and selling it themselves, they would approve the short sale. However, that has now changed … (0 comments)
kammeyer realty group: Understanding the Short Sale Process - Starting the Process
- 02/15/10 11:39 PM
Whether you are a homeowner or a buyer wanting to purchase a particular home in the Indianapolis area, the sale or purchase of a short sale property is a time consuming, complicated, and challenging process for your agents. However, the rewards far outweigh the challenges. For the listing agent, helping the homeowners resolve a financial issue and get out from under the mortgage with integrity, reserving their credit worthiness for the future, is quite a rewarding experience. For the buyer agent, helping a home buyer purchase a home with built-in equity after the recent collapse of home values is very satisfying. … (0 comments)
kammeyer realty group: 2009 Central Indiana State of Real Estate
- 02/11/10 11:21 PM
Home buying and selling remains an important segment of the local economy, especially due to the housing sector's unique power to revitalize the economy during challenging times. With historically low mortgage rates, buyers and sellers continue to have opportunities to trade up, downsize, relocate or invest in a second home. This last year saw a slowing in the decline of the real estate market and even some hopeful signs. We ended the year with 24,928 homes sold in central Indiana. This is 4% less than 2008 and continues the downward trend of homes sold. 45,568 homes were listed for sale this … (0 comments)
kammeyer realty group: Lawrence Indiana Community of Oakland Hills at Geist
- 02/09/10 12:55 AM
Oakland Hills at Geist is a 334 luxury home site development on approximately 170 acres. Many of the homesites adjoin Old Oakland Golf Club (private membership). Home sites range from quarter acre sites with a few trees to three quarter acre wooded walkouts on the golf course. There are a wide variety of builders in the community so it doesn't have that "cookie-cutter" feeling. Home prices range between the $300s to the $800s. Currently Kammeyer Realty Group has a home listed in Oakland Hills at Geist. 11247 Turfgrass Way is a 5 bed/4 bath home with 6,681 sq. ft. It features … (0 comments)
kammeyer realty group: 10 Tips for Moving with Pets
- 02/04/10 11:29 PM
Moving to a new home can be stressful on your pets, but there are many things you can do to make the process as painless as possible. Experts at The Pet Realty Network offer these helpful tips for easing the transition and keeping pets safe during the move. 1. Update your pet's tag. Make sure your pet is wearing a sturdy collar with an identification tag that is labeled with your current contact information. The tag should include your destination location, telephone number, and cell phone number so that you can be reached immediately during the move. 2. Ask for veterinary … (2 comments)
kammeyer realty group: Deadly Mistakes Home Buyers Make
- 01/24/10 11:25 PM
Most people don't understand everything that goes into buying a home. This blog summarizes the top mistakes that home buyers make, simply because the experience is new to them.Mistake #1. Not knowing how much they can afford to pay for a house before they make an offer.Get pre-qualified for a mortgage from a lender, so you know in advance exactly how much you can afford. Mistake #2. Not realizing that the wrong mortgage can cost thousands of dollars in unnecessary interest and taxes.Consult with a mortgage consultant, accountant, and/or financial planner before making a final decision on which mortgage to choose.Mistake … (4 comments)
kammeyer realty group: Four Deadly Mistakes Home Sellers Make
- 01/21/10 11:14 PM
Sooner or later, most homeowners will be in a position to sell their home. This blog summarizes the top mistakes that home sellers make, simply because the experience is new to them.Mistake #1. Failing to Maximize the "Curb Appeal" of Your HomeWhen you're preparing your house for sale, remember the importance of first impressions. A buyer's first impression can determine whether they'll choose to look inside. It's estimated that more than that 50 percent of shoppers decide to purchase a home even before they get out of their car. With that in mind, be sure to stand outside your home and … (3 comments)
kammeyer realty group: Fishers Community of Oak Hall
- 01/19/10 11:36 PM
Oak Hall and The Reserve at Oak Hall comprise a 199 single-family home community in Fishers, Indiana located about five miles from I69 and within minutes of Geist Reservoir, Hamilton Town Center, and several Hamilton Southeastern Schools. The neighborhood's amenities include a swimming pool, cabana house, playground, and basketball court.A single-developer community, Estridge broke ground on Oak Hall in May of 2003 and construction was completed in 2009. Home prices range between the $250s to the low-$400s. All homes have basements and are two-story.Currently Kammeyer Realty Group has a home listed in Oak Hall. 12419 Goodloe Drive is a 4 bed/2+ … (0 comments)
kammeyer realty group: Central Indiana homes sales strong in second half of 2009
- 01/18/10 12:28 AM
Homes sales surged in the second half of 2009, with activity picking up initially in July, peaking in October, and running level in November and December, compared to 2008. More than 1,350 Central Indiana homes pended in December, with five of nine Central Indiana counties reporting increases compared to the same time period in 2008, according to pended sales statistics compiled by F.C. Tucker Company. Morgan County posted a significant 52.9 percent increase, followed closely by Madison County at 52.6 percent. At the end of the year, the overall market showed greater stability. December home sales were nearly level with those … (1 comments)
Owning gives you lots of freedom! You can play your stereo as loud as you want, paint the walls any color you wish and do the laundry any time. When you own a home there is not an extra fee for pets or any restrictions on how you can decorate your home. When you make improvements to your home you get to enjoy your investment for as long as you are there.
The main reason for owning … (0 comments)
kammeyer realty group: Home Value Appreciation
- 01/12/10 11:55 PM
On my last post I talked about the 7 reasons to own your own home. I would like to expand on each point in that blog. The first point I've already talked about...the extended $8000 first-time homebuyers tax credit and the $6500 move-up buyer tax credit.
I would like to focus on the second point - appreciation. Real estate has long-term, stable growth in value. While year-to-year fluctuations are normal, median existing-home sale prices have increased on average 6.5 percent each year from 1972 through 2005 according to the NATIONAL ASSOCIATION OF REALTORS®.
In the past 8 years in … (0 comments)
kammeyer realty group: 7 Reasons to Own Your Own Home
- 01/11/10 12:36 AM
Owning a home is the American dream and there are many reasons why owning your own home is more than a good idea. Here are just seven reasons why, but there are many more. 1. Tax breaks. The U.S. Tax Code lets you deduct the interest you pay on your mortgage, your property taxes, as well as some of the costs involved in buying your home. Now is a great time to take advantage of the first-time homebuyer and move-up homebuyer tax credit programs. 2. Appreciation. Real estate has long-term, stable growth in value. 3. Equity. Money paid for rent is … (1 comments)
kammeyer realty group: Great Home for First-Time Homebuyers
- 01/07/10 01:03 AM
Looking for a home to take advantage of the extended first-time homebuyers tax credit? Kammeyer Realty Group just listed a lovely ranch home in Fishers, IN. This home is a 3 bed/2 bath home with 1,360 sq. ft. It features a convenient split floorplan, great room, spacious kitchen, sun room, deck, large mini barn and more. All appliances stay with this home. All for only $149,000. Contact Kammeyer Realty Group at 317-570-3800 or visit www.KammeyerRealtyGroup.com for more information. … (1 comments)
When the housing market and economy collapsed, suddenly they became overwhelmed with cases. At the same time, those banks suddenly experienced a huge loss of revenue. Some failed. Others were bought out. The result? Very lengthy processing times because those negotiators/analysts have more cases than they can handle quickly. The banks are adding to staff, but some can't afford to add and train them fast enough. Can't afford? That's their perspective. Actually they are held accountable to board members and shareholders to maximize profits. Whether they can afford to or not, many may disagree.
;)
;)
;)
