hollywood: Short Sale Update on new rules from Bank of America
- 03/07/13 12:06 AM
Hey guys, I felt I should pass this along so that you know: summary, BOA now is ok with placing a property on PS or Backup and no longer asking that it stays on active until the short sale approval letter is recieved.
here are the notes:
Short Sale Agent Update
The following information is to revise and provide additional clarity on the Multiple Listing Service (MLS) Requirements message that was sent on Feb. 11, 2013. Listing the property on the MLS is not a new requirement in the short sale process and has always … (0 comments)
hollywood: 61,000 Completed Foreclosures in January
- 02/27/13 10:17 PM
61,000 Completed Foreclosures in January The Foreclosure Inventory Has Fallen Year Over Year for 15 Consecutive Months There were 61,000 completed foreclosures in the U.S. in January 2013, down from 75,000 in January 2012, a year-over-year decrease of 17.8 percent. On a month-over-month basis, completed foreclosures rose from 56,000* in December 2012 to the January level of 61,000, an increase of 10.5 percent. As a basis of comparison, prior to the decline in the housing market in 2007, completed foreclosures averaged 21,000 per month between 2000 and 2006. Completed foreclosures are an indication of the total number of homes actually lost to foreclosure. … (0 comments)
hollywood: Has the RE market peaked ???
- 02/19/13 01:59 AM
While doing my morning reading, this news hit my feed and makes technical sense. http://www.nahb.org/news_details.aspx?newsID=15792
In summary, it states that builders have slowed down or stopped building until market absorbs most of the units. this also correlates to my local Hallandale and Hollywood market, in which my data studies show that property prices have reached a delta growth of less that 2% from November. Unless the south american financial crisis in Venezuela and Argentina changes, I'm expecting that the demands will balance supply ( Columbia taking in the slack for Venezuela and Brazil for Argentina.)
Enjoy the read folks … (0 comments)
hollywood: What is the nation wide trend - Mikes views
- 02/12/13 12:17 PM
Well despite a 10 percent increase in U.S. home prices in the fourth quarter of 2012, housing remains highly affordable, according to the latest real estate market trends reported today by the National Association of Realtors. ( You did read it didn't you ). The median price for an existing single-family home rose from $162,000 to $178,900 in the fourth quarter of 2012, the biggest year-over-year price increase since the fourth quarter of 2005, the association reported. Increases were seen across most of the 152 metropolitan areas tracked by the report, indicating real estate market trends are improving across most of the … (2 comments)
Hey guys, I felt I should pass this along so that you know:
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