ARCHIVED BLOG POSTS
2010
The bad news? Nationwide, between 5 million to 7 million properties are potentially eligible for foreclosure and they have not yet been repossessed and put up for sale. Where are these properties? Not in the MLS, that is for sure. . . In the Maryland DC and Virginia Region we are seeing a ...
07/31/2010
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I see so many customers go to Lending Tree to get a rate quote and "shop" for the best rate! After taking a few Lending Tree leads, I realized that the best way to get the customers to commit is to be the lowest rate. I hear the leads telling me that they have offers of 3.75% on a 30 year fixed...
07/31/2010
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According to data from the Altos Research, housing prices will continue to drop through the rest of the year and into 2011. The weight of "shadow" inventory of homes that haven't hit the market that are in some stage of foreclosure. The recovery period is dependant on inventory and location. A...
07/31/2010
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There are some special considerations when buying a foreclosure that might not be a consideration when purchasing a normal house. The first of these considerations is to make sure that the water and power are turned on. Usually these houses are vacant and the bank has had them locked up and wi...
07/31/2010
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July 30 2010 - August 8, 2010 FredericksurgFair.org The Fredericksburg Agriculture Fair was established in 1738 when the Virginia House of Burgess authorized and directed that "fairs should be held in Fredericksburg twice a year for the sale of cattle, provisions, goods, wares, and all kinds of m...
07/31/2010
Strategic Default Vs. Strategic Short Sale And "Verifiable Hardships" The new "buzz phrase" in our industry is "Strategic Default". Recently, University of Arizona professor Brent White wrote an article dealing with the issue "Strategic Defaults". In the article, he basically justified the id...
07/30/2010
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HUD Homes Many first time home buyers and those a like, have started exploring the real estate market and have come across "HUD Homes". Many have no idea what HUD stands for let alone what that even means about the home. HUD stands for Housing and Urban Development. They are a department of th...
07/30/2010
FHA 203k Loan.... "But the Rehabilitation loan is such a hassle!" Or is it? I know. There are so many people that shutter when they think of FHA loans and the FHA 20k Rehab loan. "There aren't any lenders that are doing them.", "They take way too long and are not worth the time and effort." Sou...
07/30/2010
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As we are going to see another wave of foreclosures coming, why are banks foreclosing rather than modifying loans or approving short sales? The banks make more money when they foreclose on a property than work out a loan modification or a short sale. What? How could that be? The homeowner lose...
07/29/2010
There’s been a lot of discussion on the subject of Strategic Default over the last year or so, with no shortage of passionate viewpoints. It’s a favorite topic in all forms of media. The last time we posted an article on this subject (Feb ’10) it created a virtual firestorm of response. Ethical...
07/28/2010
Rainmaker
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Rita Gibbons
The Gibbons Group