short sale: Where will I live if I have to let my home go? - 09/28/11 07:28 AM
Recently I have had several inquiries regarding what happens after foreclosure? First I always attempt to encourage working with an HUD approved housing counselor. Secondly I do everything I can to assist in not letting the home go to foreclosure for the individuals sake and as my part in trying to stop the bleeding of these homes sitting on the market. If possible even a Short Sale of the home is easier on the individuals credit as well as the general neighborhood.
However if in the end foreclosure is inevitable....
Housing will become difficult, Owners and Landlords are most frightened of … (0 comments)

short sale: Whats on the Horizon ??? - 03/22/10 06:42 AM
Whats on the Horizon ??? There is a growing divide between delinquencies and foreclosures, which suggests that foreclosure data understate the mortgage distress and delinquencies now building in the U.S. Residential Housing Market.  There could be a coming wave of defaults, borrowers whose homes are significantly underwater with predication's of more than 5 years before an increase in property values. These borrowers may have high credit scores opting to strategically default. Government programs to support housing have been "Murky" and if the modifications caused by them comes to an end, or doesn't address the perfect credit underwater homeowner, a lot of … (0 comments)

short sale: Catch it while you can!!! in Twenty Ten!!! - 12/28/09 06:48 AM
Here we are at the end of 2009.
As I work on my business plan for next year it comes to me that I believe the above title to be the truth.
Catch it while you can in twenty ten!!
 
Catch the low rates, we know they can only go up. Catch the tax incentives to first time and move up buyers. Catch the low sales prices that we will soon begin to see rising.  Catch FHA before guidelines change and Catch Conventional as its guidelines increase in difficulty monthly. Catch a Realtor with New Solutions Realty.net
   
 
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short sale: Why is it so difficult to purchase a Short Sale? - 08/19/09 03:40 AM
Todays Blog is a complaint blog.
March 25th, my buyer and the seller of this short sale signed an agreement for my client to purchase upon third party approval. I understand and expected a few months to go by. My client and I were not prepared for it to take 5+ months. This home is a piggyback condo and there are several sales recently to make the struggle of finding value easy. This offer from my client, falls right in line with the comparables. My client is approved FHA financing and has 10K+ in the bank with 800+ credit scores, 1st time homebuyer and generally does … (0 comments)

short sale: Foreclosed vs. Short Sale - 08/07/09 02:57 AM
Bank Owned Properties:
all negotiations are basically made between a Buyer and an employee of the bank/servicer (as opposed to an owner/seller).
Standard purchase and sale agreements are used as well as the banks' own addendums and disclosures. Offers must be complete and filled out in accordance with the banks' rules. 
Most of the time the Bank is pricing near market and is expecting to transact the property close to the asking price. Your Realtor should verify the value before the offer.  If the value has changed a solid argument can be made.
The Bank typically will not to make repairs so an "as-is" sale is best. … (0 comments)

 
Kay D. Riddle, Broker (New Solutions Realty  )

Kay D. Riddle

Broker

New Market, MD

More about me…

New Solutions Realty

Address: 810 E. South St. , Frederick , MD, 21701

Office: (877) 872-5224

Mobile: (301) 455-7591

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