mark taylor hud fha va usda jumbo and conventional mortgage loans in arizona and california: How much are distressed homes now worth? What's your guess?
- 05/20/11 02:47 AM
Distressed Homes Now Selling At A 20 Percent Discount The housing market recovery stalled last month. At least temporarily. According to the National Association of REALTORS®, Existing Home Sales slipped 1 percent in April from the month prior, falling to 5.05 million units on a seasonally-adjusted, annualized basis. The reading is exactly in-line with report’s 6-month average which also reads 5.05 million units. The data may appear “average”, but there’s another angle to consider. In April, as compared to March, the supply of existing homes for sales spiked. At the current pace of home sales, it would now take 9.2 months to exhaust today’s complete … (3 comments)
mark taylor hud fha va usda jumbo and conventional mortgage loans in arizona and california: House swapping yes it can be done!
- 05/18/11 05:43 PM
House Swapping/Trading Homes – What You Need to Know You may have heard the term “house swapping”. It has been in the news lately and it’s a little-known way for people to trade homes with each other. Fannie Mae and Freddie Mac have had this financing option on their books forever. Documentation & Details As with everything else in today’s mortgage world documentation is the name of the game. Every aspect of the trade must be documented, from contracts to evidence of ownership, proof of the home’s value and evidence of the final trade. Highlights: Trade equity must … (1 comments)
mark taylor hud fha va usda jumbo and conventional mortgage loans in arizona and california: Home Builders Seeing More Sales Today; Fewer Sales Tomorrow
- 05/17/11 04:01 AM
Home builder confidence can't shake its range, according to the National Association of Home Builders. The group's monthly Housing Market Index put May's builder confidence reading at a level of 16. The Housing Market Index is scored on a scale of 1-100. A reading above 50 suggests favorable conditions for the new home housing market, as reported by home builders. A reading below 50 suggests unfavorable conditions. May marks the sixth time in 7 months that the HMI posted a 16, the longest such plateau in the index's history. The HMI has not posted higher than 50 since April 2006. … (0 comments)
At application, do the math and let your clients know the estimated number of years that the PMI or MIP will be eliminated. The interest rate makes a difference, but here’s an example of a sales price/appraisal value of $250,000 at 6% interest rate, and based on making regular monthly payments (no principal prepayment). If the interest rate is 1% lower than 6%, subtract one year If the interest is 1% higher than 6%, add one year Show this to your clients and feel free to re-blog like crazy. … (2 comments)
Yep, there’s a disclosure for that! But what do the PMI termination rules really mean to the average person?
Dropping Conventional Mortgage Insurance Rules
Automatic Termination Fixed Rate & Adjustable – Removed when reduced to 78% LTV Based SOLEY on regular amortization (not prepayment of principal) LTV based upon ORIGINAL VALUE
Additional Requirement: Mortgage payment must be current
Borrower Requests Termination o Fixed & Adjustable – Removed when reduced to 78% LTV
Additional Requirements: Submit cancellation request in writing Good payment history Current on … (4 comments)
mark taylor hud fha va usda jumbo and conventional mortgage loans in arizona and california: What's happening now gas is 4 BUCKS a gallon?
- 05/14/11 04:07 AM
When oil shot up to as high as $150, a very abrupt shift in spending happened, either creating or certainly contributing to the recession which followed soon after. To blame fully or not, gasoline at $4+ per gallon certainly did take its toll on the economy, as these price increases find their way into everything to some degree (think fuel surcharges and high freight shipping costs). For what it's worth, we are seeing at least some of the same effects today, and high fuel and food prices are very likely strong contributing factors in the decline in GDP from over 3% … (2 comments)
mark taylor hud fha va usda jumbo and conventional mortgage loans in arizona and california: Rates are threatened again by rising retail sales
- 05/13/11 05:30 AM
Rising Retail Sales Threaten Low Mortgage Rates Another day, another piece of evidence that the U.S. economy is expanding. Thursday, the Census Bureau released the April Retail Sales report. Excluding cars and auto parts, retail receipts rose for the 10th straight month and, at $321 billion, reached an all-time high. Retail sales account for roughly half of consumer spending, and roughly one-third of the economy overall. For home buyers and rate shoppers in Scottsdale , the sales figures have positive and negative implications. On the positive side, more retail sales suggests more confidence in the U.S. economy. This can spark a growth cycle that benefits … (3 comments)
mark taylor hud fha va usda jumbo and conventional mortgage loans in arizona and california: More Good News about the Housing Market - 7 months in a row really?
- 05/12/11 05:09 AM
Foreclosure Filings Fall To 40-Month Low Foreclosure activity continues to drop nationwide. Based on data from foreclosure-tracking firm RealtyTrac, foreclosure filings nationwide fell below 220,000 in April 2011, a 9 percent decrease from March. A “foreclosure filing” is defined as any foreclosure-related action including Notice of Default, Scheduled Auction, or Bank Repossession. April marks the seventh straight month in which foreclosure filings have dropped and total filings are down more than one-third year-over-year. One reason why filings are down is that banks are letting more time pass between delinquency and foreclosure, exploring alternative courses of actions such as short sales and … (2 comments)
mark taylor hud fha va usda jumbo and conventional mortgage loans in arizona and california: 2 Bedroom Home for sale in Sherman Oaks
- 05/10/11 11:18 AM
Looking for Homes for Sale in Sherman Oaks this charming Sherman Oaks Home for Sale is one you will not want to miss. While looking at Traditional Homes for sale in Sherman Oaks the home will stand out with it's complete white picket fence located in the heart of Library Square close to Ventura Boulevard. Such an amazing place when wanting to find Homes for Sale Sherman Oaks that are close to the local shopping and restaurants. This charming 2 bedroom 2 bathroom cottage style is one of the best Homes for Sale Sherman Oaks on the market today plus it has cozy convertible den, wood floors throughout, stainless steel and marble kitchen with an enclosed … (0 comments)
mark taylor hud fha va usda jumbo and conventional mortgage loans in arizona and california: 2 bedroom 2 Bath Home for sale in Sherman Oaks
- 05/10/11 09:59 AM
Looking for Homes for Sale in Sherman Oaks this charming Sherman Oaks Home for Sale is one you will not want to miss. While looking at Traditional Homes for sale in Sherman Oaks the home will stand out with it's complete white picket fence located in the heart of Library Square close to Ventura Boulevard. Such an amazing place when wanting to find Homes for Sale Sherman Oaks that are close to the local shopping and restaurants. This charming 2 bedroom 2 bathroom cottage style is one of the best Homes for Sale Sherman Oaks on the market today plus it has cozy convertible den, wood floors throughout, stainless steel and marble kitchen … (1 comments)
mark taylor hud fha va usda jumbo and conventional mortgage loans in arizona and california: Basic tips for preparing a home for sale simple for agents tough for sellers
- 05/10/11 09:50 AM
What To Fix Before You List With housing prices down across the country, there are a lot of homeowners in Arizona barely breaking even on their respective home sales. Some are even losing money. You may find yourself in that position, too; wanting to sell, but worried about bringing cash to your own closing. It creates an interesting dilemma. You want your home to “show nicely” relative to comparable properties, but you don’t want to invest big dollars that may never be recouped into upgrades or renovations. So what do you do? The answer is simple. Do the bare minimum. From an … (1 comments)
mark taylor hud fha va usda jumbo and conventional mortgage loans in arizona and california: Rates are now just off the historical lows and most expect a continued rise.
- 05/09/11 06:02 AM
Historic Low Mortgage Rates- Rates are now just off the historical lows and most expect a continued rise. Having consumers want the lowest rate and the lowest price for homes in years can be frustrating. In order to get my clients to "pull the trigger" I show them that for the first time ever they can buy a home for less than the cost to rebuild the home! Very powerful argument and one that your insurance agent can help you with especially when your buyer balks at their insurance quote of $90 a square foot to replace the house but they are only … (0 comments)
Hi folks. In 2001, the Federal Reserve Board and the U.S. Treasury Department proposed rules allowing national bank conglomerates to engage in real estate brokerage and management. The rule would have reclassified these activities as financial in nature.
The National Association of Realtors was dead set against this and used their powerful lobbying force to fight. NAR's position was that..... "Allowing large, national banking conglomerates into real estate would create anti-competitive and anti-consumer concentrations of power within the industry." Read full article On March 11, 2009, President Obama signed into law the FY2009 Omnibus Appropriations Act that permanently … (0 comments)
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