Real Estate News

How does a Short Sale effect My Credit Vs a Foreclosure?

How much impact does a short sale have on FICO® Scores? How about a foreclosure? Since I frequently hear these questions from clients and others, I thought I’d share new FICO research that sheds light on this very subject.
The FICO study simulated various types of mortgage delinquencies on three representative credit bureau profiles of consumers [...]

67.5 Percent Increase in Bank Shadow Inventory

67.5% Increase In Bank Shadow Inventory July 26, 2011 ·
Has the state of the housing market gotten better or worse since the first quarter of 2009?
To answer this, you have to define what you mean by the state of the housing market. If you mean sales alone, then the state of the market hasn’t changed [...]

Case-Shiller Housing Market Not Looking Good

I really like this report because it gives you a number of perspectives.

The reality is rarely what we see in the news, but it’s always nice to see the interaction and ideas expressed by the people appearing on this show.

Case Shiller Report on CNBC.

Home prices fell all over the country except in Washington DC. where our government is growing.

San Diego home prices fell ever so slightly, still they are beginning to move down once again.

San Diego is resilient because of it’s diverse job opportunities, everyone wants to live here.

Average $125,562 Awarded to Military Personal for Improper Foreclosure

Two mortgage Lenders will pay more that $22 million to settle civil charges that they improperly foreclosed on 178 members of the military, some of whom were serving in Iraq or in Afghanistan.

The Justice Department said, that between 2006-2009 Bank of America and Morgan Stanley failed to get court orders before foreclosing on military personnel in 22 states. The Justice Department awarded to these men and women an average of $125,562.

Some of the members foreclosed on were wounded or had post-traumatic stress disorder.

Why the Economy and Wall Street Are Doing Well

Wondered why they say the economy is doing so well?
Whether you like Jim Cramer of CNBC or not, he hit the nail on the head in this video about what is keeping this economy afloat. I’ve been saying what he just said in this video for about a year and a half now.
I’ve noticed,  when [...]

Can The Economy Recover Without Housing? Are we becoming a renter Nation?

Michael Farr(President of Farr, Miller & Washington plainly says “NO!”

Michael Farr blames the mortgage lending practices of Fannie & Freddie and the tightening of the mortgage requirements.

It’s not the job market.

Diana Olick says the peoples perception of owning a home is it is not a good investment. Some people are now paying higher rent than if they were to buy. Until the perception changes the market won’t change.

Also…the job market seems to be improving yet new home construction is down .8 percent. That’s not a good sign.

Be sure to make a comment or email Keith to get your FREE copy of “Should I Short Sale My Home?” This book has tons of information you will want to know. Get your copy and email it to a friend who may be in need of this information.

Shari Olefson author of “Foreclosure Nation” thinks the economy is improving without the housing market. She says “Housing is bumping along the bottom until we work out these foreclosures”.

Average 400 Days to Complete a Foreclosure-

How long does it take to complete a foreclosure process?
How long does it take to get foreclosed on?
These are questions I hear everyday.
As stated by CNBC’s Diana Olick,  it takes an average of 400 days from start to finish to complete a foreclosure.
In California it takes about 330 days.
Make sure you email me for a [...]

Housing Double Dip Confirmed / Short Sale to Put Money In Your Pocket

Distressed and Short Sales are 34 percent of the homes on the housing market nation wide. Mostly what is keeping the housing market up a little is the influx of cash buyers. Because of the down trend resuming the banks are looking to give you more money to short sale your home rather than foreclose.

Get $10,000 to $35,000 Cash for Keys – If You Short Sale Your Home

This information is a must read if you are upside down in your mortgage. My mentoring program (Harris Real Estate University) provided this article. I have edited it a little for you. There is some great info here.
In default, losing your home to foreclosure and running low on cash?
No worries!
……your friendly mortgage company may soon [...]

Strategic Defaults at the Higher End

A strategic default is when you bought your home:

The property value has drop dramatically
You can still afford the payments, You may choose to keep up your payments but do a short sale.
You let the home go back to the bank or you Short Sale. The Short sale You keep your credit score higher than if you allow for a foreclosure..

Read More Posts From This Category

Clairemont Local Businesses & News

San Diego Ranked 15th in California for Healthiest Counties

In a story by Janet Lavelle in Sign On San Diego
San Diego ranked 15th out of 58 counties last year, siting low smoking rates, preventable hospital stays, and premature death as part of the evaluation.
California’s healthiest counties  were Marin, San Benito, Pacer, Santa Clara, and San Mateo which are also among the wealthiest and best [...]

Read More Posts From This Category