realtor advice: A WHOLE NEW BALLGAME
- 09/30/10 07:30 AM
According to a recent survey conducted by the National Association of REALTORS®, close to one third of existing home sales were either foreclosures or short sales (meaning sales in which the lender agreed to allow the home to sell for less than the amount outstanding on the mortgage). Indeed, it seems for now that these "distressed properties" have become the new "traditional" sales transactions. This is why it is so important to seek the representation of a specially trained and qualified real estate professional. Sellers particularly need assistance in navigating these complex short sale transactions, and buyers need guidance if they … (2 comments)
realtor advice: Look Before You Leap
- 09/07/10 01:42 AM
Many retirees are facing dwindling incomes from their battered investments, which explains why applications for "reverse mortgages" have risen nearly 50% in the last two years. It sounds like a great option: a lender essentially gives you a cash advance on your home's equity, which doesn't have to be paid back until you either move or "move on." There are drawbacks hidden in the details, however. Although recent legislation has raised maximum allowable home values, the formula for determining how much you'll get includes other factors like your age and current interest rates. Your current mortgage balance and the loan's fees … (2 comments)
realtor advice: Don't let them BUG you!!
- 09/02/10 04:48 AM
It has been estimated that termites cause $5 billion in property damage every year in this country. That makes them more of a threat to homeowners than flood, wind, or even fire. And yet, the Federal Housing Administration (FHA) demands separate termite inspections only if the state or local laws require it, or if there is an outright suspicion of damage. Termites thrive in the warmer climates of the South/Southeast and West/Southwest, but states on the East Coast and even in the Midwest have areas of high risk. Outside those regions, still all it takes is the right combination of warmth, … (0 comments)
According to a recent survey conducted by the National Association of REALTORS®, close to one third of existing home sales were either foreclosures or short sales (meaning sales in which the lender agreed to allow the home to sell for less than the amount outstanding on the mortgage). Indeed, it seems for now that these "distressed properties" have become the new "traditional" sales transactions.
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