orange county reo: Fannie Mae's new homebuyer incentive program - for selling agents too!
- 09/23/10 06:54 PM
Fannie Mae Announces New Incentives for HomePath® Properties Up to 3.5 Percent Seller Assistance; Selling Agent Receives $1,500 Bonus WASHINGTON, DC - Fannie Mae (FNMA/OTC) today announced a seller assistance incentive on Fannie Mae-owned properties listed on the company's REO website, www.HomePath.com, and expands the initiative to offer an incentive to real estate agents and brokers. Qualified homebuyers who will be owner-occupants can receive up to 3.5 percent of the final sales price that can be used toward closing cost assistance, including a home warranty, if desired and available. In addition, selling agents representing owner-occupants will receive a $1,500 bonus. … (3 comments)
orange county reo: Ban plastic bags! :)
- 08/09/10 11:05 AM
We've got until the end of August to pass the ban on single-use plastic bags, or the bill will be dead. Take action, and tell your senator to support the bill to ban plastic bags today: http://www.environmentcalifornia.org/action/oceans/sen-bag-ban?id4=ES Your e-mails show the on-the-fence senators that their constituents support the... ban (AB 1998), as well as encourage those already with us to keep fighting. The reason we're cutting it so close is that plastic bags have rich friends ... rich friends (American Chemistry Council) who hire lobbyists.To get regular updates, you can join the conversation on Facebook: http://www.Facebook.com/EnvironmentCalifornia www.oclisa.com
Why are we cutting down our trees to make a cardboard box that's used once, maybe twice, to just throw it away in a landfill? It doesn't make any sense, when over 20 percent of the American population packs and moves each year- generating massive quantities of waste, that ultimately ends up in a landfill. It's a huge problem and we haven't had a choice or a gree sustainable solution in over 230 years. New or used cardboard boxes are just too … (0 comments)
orange county reo: HAFA: In Effect 4/5/10... will this one work?
- 04/07/10 04:44 AM
Here are the highlights of Obama's latest Home Affordable program, HAFA (Home Affordable Foreclosure Alternatives): The Obama Administration created the HAFA program for loans that otherwise meet the criteria for HAMP (Home Affordable Modification Program) but were unable to be modifiied under the HAMP guidelines because they are not securitized by Fannie or Freddie, thus have their own short sale and deed-in-lieu programs. Hmmm... so most of the borrowers/loans that need the modifications - Subprime, Alt-A, liberal loan programs weren't eligible! Brilliant. I digress... Servicers are not obligated to participate in HAFA, so you need to find out if your servicer is participating. If they … (2 comments)
orange county reo: Irvine Home Prices Q109
- 05/26/09 07:40 AM
According to the latest Zillow Real Estate market reports, home values in Irvine decreased 7.9% in the first quarter of 2009, compared to the first quarter of 2008. Nationally, home values decreased 14.2% during this same period. This matches up with a just-released Q1 Homeowner Confidence Survey, where 60% of U.S. homeowners believe their home has lost value in the past 12 months. In reality, 80% of U.S. homes have declined in value over the past 12 months. www.oclisa.com
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orange county reo: Know When to Fold 'Em
- 05/11/09 05:55 AM
Published by Mildred Wilkins Short sales are becoming fairly common practice in the real estate market these days and anyone who has completed one knows that you had better be prepared for rough riding when you get the seller to sign a listing contract when they are upside down. If the term "short sale" is unfamiliar to you, it refers to a situation when the sale of a home will not net enough to cover the mortgage and closing expenses. It is a problem which occurs frequently in today's market place. Whether the consumer is upside down because of refinancing, new … (0 comments)
orange county reo: REO "Highest and Best" offers
- 04/15/09 08:57 AM
For those who may not know, when submitting an offer on an REO property, the selling agent is often told by the listing agent that the bank is asking for "Highest and Best" (H&B) offers that their buyer has to offer. This is another way of asking the buyer to submit their "best and final offer". Another way of putting it... "Highest and Best" is the banks Counter Offer. They're acknowledging that they have received multiple offers, and are therefore requesting each buyer to come back with their best offer. If they have multiple offers, and there is one or two they like, their worst case is that they … (0 comments)
orange county reo: Orange County Bank Owned Deals
- 02/10/09 02:15 AM
I noticed another blog today questioning how there can be multiple offers in a buyers market. Of course, with all the foreclosures/bank owned properties on the market! A tip for buyers: if you see an REO property that you know is priced low, and you really want it, make a higher offer and you'll likely get it. Some lenders are still listing too high hoping to minimize their losses, but my experience shows that listing low (or "priced to sell") brings multiple offers well over list price... and it's typically the highest offer that gets it, even if it's an FHA buyer over a lower, full cash offer. … (0 comments)
Fannie Mae Announces New Incentives for HomePath® Properties
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