Posted by: Carleton Sheets in Value, Real Estate Market, mortgage broker, Lender, Housing Market, Home Valuation Code of Conduct, fair market value, Economy, borrower, appraiser, appraised value, appraisal on
Aug 24, 2009.
There has been much debate in the real estate community about how the Home Valuation Code of Conduct for appraisals that took effect May 1 is affecting the housing market.
The role of appraisers in the subprime mortgage debacle has been closely analyzed ... especially the fact that some appraisers allegedly felt pressured to bump the price of homes upward by providing faulty valuations and to
Many investors turn to flipping properties for relatively quick profits during the real estate market's boom years. However, savvy investors realize that even as times change and markets fluctuate, there are always opportunities in every market to make money flipping properties.
In the case of first-time homebuyers, purchasing a home can be a little overwhelming---especially since many of
Posted by: Carleton Sheets in rent, Recovery, Real Estate Market, Real Estate, Market Value, Housing Market, fair market value, Economy, Distressed, Creativity, condo, Comps, association on
Aug 11, 2009.
One of my staff members recently sent me an article about a group of condo owners in Chicago who are taking a stand on the eight or so neighboring condo units that are in various stages of foreclosure. Members of the condo association are knocking on doors in an attempt to pass a referendum that would allow the association to purchase the "distressed" units and then rent them out until the
I've been reading articles about homeowners who rent out their homes in certain circumstances. And, apparently, there are several motives ... some homeowners who purchase another home or have a job-related-move and haven't been able to sell their original home make the decision to turn it into a rental. And sometimes those who can't afford to pay their mortgage and don't want to declare
Posted by: Carleton Sheets in unemployment, Refinance, Real Estate, Obama, mortgage, loan to value, Loan, Interest Rate, Freddie Mac, Foreclosure, Fannie Mae, fair market value, Economy, Credit, borrower, Barack Obama on
Jul 02, 2009.
A recent article published by CNNMoney.com reports that the Obama administration has revised its initial mortgage refinancing program to help more borrowers---including those whose homes are valued below their loan amount---qualify for refinancing. The revisions also include stipulations that enable eligible borrowers who are either in default or at risk of defaulting on their loan to lower their
An article I just read in USA TODAY reported that the foreclosure rate will probably continue to move upward for a while. The culprit? And, no, it's not subprime mortgages this time ... it's the unemployment rate that's beginning to include borrowers who have good credit---and higher-end homes.
News like this undermines the cautious optimism some saw in the housing market recovery and
Posted by: Carleton Sheets in Real Estate Market, Real Estate, Property, Mortgage applications, Incentive, Housing Market, Economy, Confidence, Buyers market, Barack Obama on
May 07, 2009.
I've been reading quite a few articles lately suggesting that some analysts are beginning to see a glimmer of light in the housing market.
For instance, a recent article in USA TODAY reported that well-kept homes in good neighborhoods are receiving multiple offers---even in states with high foreclosure rates. Why? It's a buyer's market right now and, as buyers become less "timid," they are
Posted by: Carleton Sheets in Real Estate, Lender, Economy, Bailout, Assistance on
Mar 13, 2009.
If you have listened to the news over the last few months, you've heard a lot about the Troubled Asset Relief Program (TARP). The media has painted a picture of banks greedily reaching out for our hard-earned taxpayer dollars to keep their doors open ... and then spending those dollars on lavish parties and golf outings. And I'm sure that may be the case with some banks, but not all.
I read an
Posted by: Carleton Sheets in Tenant, Real Estate, Housing Market, Foreclosure, Economy, Budget on
Feb 09, 2009.
Did you read my blog asking where have all the renters gone? Well, it looks like they've been found ... living with family.
According to an article in USA Today, more and more families are moving in together due to the current economy. Those who were foreclosed on or having trouble making ends meet are moving in with family members or friends. And by pooling their resources, they are finding
It's interesting to see how builders' incentives to prospective buyers are changing. In previous blogs, I wrote about builders offering flat-screened TVs, new microwaves---and even a free car to entice buyers to purchase homes. And their incentives continued to "grow" as the housing market declined---free upgrades, free trips, and prices slashed even further.
I just read an article in the
