CT Homes

FEBRUARY 3, 2022

A defining term that emerged shortly after the collapse was the “short sale”. In the years following, short sales were the driving force behind a majority of all total real estate transactions. But what is the short sale process and how does it work? . What is a Short Sale?

Short sale 52

Short sale Sales Pre-approval Principal 52

Dwell Real Estate

AUGUST 20, 2021

In Sarasota’s real estate market today short sales are nearly unavoidable. I talk with buyers every day and many of them have questions about how short sales work, how they are different than regular sales, etc. Misconception: A cash offer will make a short sale move faster than an offer with financing.

Short sale 52

Short sale Sales Pre-approval Banks 52

HomeLight

AUGUST 31, 2020

You may have heard that short sales, foreclosures, or bank-owned properties offer great opportunities for a steal , but what do these different terms mean, and how does the homebuying transaction work for each? What’s the difference between buying a short sale vs. a foreclosure, and where can the best deals be had?

Short sale 90

Short sale Sales Banks Inspection 90

HomeLight

OCTOBER 11, 2021

You see a house you love, but the listing shows that it is an “active pending short sale.”. And just what is a short sale, anyway? Is a short sale home purchase for you? And can you still make an offer on an active pending short sale? Short sales defined . Wait, what?

Short sale 75

Short sale Sales Banks Backup offer 75

HomeLight

OCTOBER 5, 2020

You know that old saying, “when one door closes, another one opens”? But what if it’s a different kind of sale … for example, how much should you offer on a short sale? So it’s a cycle of closing old chapters and starting new ones — and that doesn’t always happen in a clean-cut, seamless way.

Short sale 65

Short sale Sales Banks Due diligence 65

Calculated Risk Real Estate

SEPTEMBER 8, 2023

Mortgage Equity Withdrawal is an aggregate number and is a combination of homeowners extracting equity - hence the name "MEW" - and normal principal payments and debt cancellation (modifications, short sales, and foreclosures). Note: Very few homeowners have negative equity now - unlike during the housing bubble.

Closing 125

Closing Equity Principal Short sale 125

Calculated Risk Real Estate

MARCH 7, 2024

Note the almost 7 years of declining mortgage debt as distressed sales (foreclosures and short sales) wiped out a significant amount of debt. Note: Very few homeowners have negative equity now - unlike during the housing bubble. 1 (sometimes called the Flow of Funds report) released today. Mortgage debt is up $2.36

Closing 68

Closing Equity Principal Short sale 68

Housing Wire

JUNE 8, 2022

Solutions like active listing scan will help customers “close more loans more quickly,” he added. . In May, the inventory of homes for sale rose 8%, marking the first inventory rebound since June 2019. Xactus, with its mortgage verification suite, aims to close more loans quickly and enhance profitability.

Short sale 341

Short sale MLS Banks Loans 341

Housing Wire

MAY 20, 2022

Most real estate agents deal with primary homeowners and homebuyers, so they may market an investment property to the wrong audience, delaying the sale. Consider a Short Sale. If you’re in over your head in debt and can’t find your way out, your mortgage company may approve a short sale.

Short sale 424

Short sale Investor Banks Agents 424

Calculated Risk Real Estate

DECEMBER 7, 2023

Mortgage Equity Withdrawal is an aggregate number and is a combination of homeowners extracting equity - hence the name "MEW" - and normal principal payments and debt cancellation (modifications, short sales, and foreclosures). Note: Very few homeowners have negative equity now - unlike during the housing bubble.

Closing 70

Closing Equity Principal Short sale 70

Housing Wire

MARCH 17, 2021

WFG Title Insurance will now offer forbearance, loan modification, and foreclosure information reports as part of its general title and closing services. ” Pre-foreclosure sales are a promising alternative to foreclosures – here’s why. .” Presented by: Auction.com.

Title 366

Title Short sale Lending Loans 366

HomeLight

FEBRUARY 26, 2021

These are all items that you may see listed for sale “as is” on sites like Facebook Marketplace or Craigslist. So how do “as is” sales in furniture and retail translate to “as is” sales in real estate? A couch with a red wine stain. An iPad with software issues. A car with a few dents and scratches.

As-is 99

As-is Sales Inspection Investor 99

HomeLight

JULY 31, 2020

Closing on a house seems pretty straightforward. There’s a house for sale that you want to buy. Once the buyer and seller sign the contract, the closing process begins — and therein lies the rub. So the answer to “how long does it take to close on a house?” How it can delay closing. Easy, right? Yeah, not so much.

Closing 113

Closing Purchase and sale agreement Title search Earnest money deposit 113

Housing Wire

MAY 18, 2022

” The report found that close to 330,000 homeowners with delinquent loans exited forbearance at the end of last year with no loss mitigation solution in place. . ” The report found that close to 330,000 homeowners with delinquent loans exited forbearance at the end of last year with no loss mitigation solution in place.

Loans 391

Loans Short sale Mortgages Closing 391

Housing Wire

AUGUST 30, 2022

From the index : I know it seems strange, but existing home sales are falling, and the monthly supply of new homes is at 10.9 months even if the last existing home sales report showed home price growth of near 11% year over year. months even if the last existing home sales report showed home price growth of near 11% year over year.

Bankruptcy 397

Bankruptcy Days on market Sales Short sale 397

Housing Wire

DECEMBER 8, 2021

My biggest concern for housing in the years 2020-2024 was that if the demographic push in demand picks up and total home sales get over 6. million new and existing home sales combined. This type of sales growth — which couldn’t happen from 2008-2019, as I have often stated — is coming with a hefty price tag.

Bankruptcy 524

Bankruptcy Loans Sales Short sale 524

Housing Wire

OCTOBER 31, 2022

The Federal Reserve will hold another meeting this week, where everyone assumes we will get another 75 bps rate hike. The question is: how many more rate hikes are left? And, once they’re done hiking rates, will the Fed need to keep rates high because the consumer balance sheet looks so good? From the WSJ article: “ U.S.

Bankruptcy 522

Bankruptcy Lending Equity Mortgages 522

HomeLight

MARCH 30, 2022

Whether you’re an investor looking for a speedy sale so you can move on to your next deal or a homeowner trying to unload a property quickly to avoid financial strain, you’re in search of real estate cash buyers to purchase your house without a lengthy or uncertain process. Reduce the time it takes to close your sale.

Sales 98

Sales Investor Renovation Due diligence 98

Realty Biz

FEBRUARY 12, 2023

Auctions were very intimidating, because you were often not allowed to see the properties up close, and you took the risk of what you might get, well, competing against professional, flippers, contractors, and other experts.” If you’re not looking for a short sale, though, you’ll need to purchase a foreclosed property at auction.

Short sale 115

Short sale Banks Staging Principal 115

The Close

APRIL 30, 2024

Pricing real estate is an art and science. When it’s time for a price reduction, real estate agents must conduct market research and rely on the data. We also need to know how to have a price reduction conversation with our clients since pricing for homeowners can be emotionally driven. But it’s critical to dig deeper.

Agents 78

Agents Short sale Staging Sales 78

Housing Wire

SEPTEMBER 16, 2021

The delinquency rate should follow that downward path closely. As the summer comes to an end, several issues are top of mind for everyone: the impact of the Delta variant, the debate over when the Federal Reserve will taper its asset purchases, the situation in Afghanistan, and the federal debt limit and budget debate.

Mortgages 501

Mortgages Loans VA loan Investor 501

Realty Biz

JULY 19, 2022

This article might be premature because across most of the country home sales continue happening rapidly. Many of these will be new investors that don’t have experience with the pre-foreclosures, short sales, and foreclosures, that occurred during the Great Recession. properties with a foreclosure filing. This becomes REO.

Purchase and sale agreement 101

Purchase and sale agreement Short sale Loans Inspection 101

HomeLight

SEPTEMBER 1, 2020

Even experienced homebuyers who’ve already bought and sold a few homes will find the process much different, and they will also need an agent who specializes in REO sales. In a normal home sale, if the home inspection finds issues, you can negotiate with the seller. These sales are different from normal sales.

Banks 85

Banks Agents Sales Short sale 85

HomeLight

AUGUST 31, 2021

They’ll put the house up for auction either in a sheriff’s or public trustee sale (the name depends on what foreclosure process your state follows). Different types of foreclosure sales. Distressed sales accounted for just 1% of all home sales in April 2021. Short sale. Can you still put in an offer?

Pre-approval 101

Pre-approval Short sale Banks Finance 101

CT Homes

MARCH 7, 2024

Higher equity means more profit from the sale that goes directly into your pocket, making understanding your home’s equity crucial when planning to sell. This figure represents how much you need to pay to settle your mortgage in full at the time of sale. We can close quickly!

Purchase and sale agreement 78

Purchase and sale agreement Mortgages Equity Short sale 78

Point2Homes

DECEMBER 8, 2020

However, before the sale can go to closing, certain contingencies must be met. These clauses are defined in the sales contract and often have to do with home inspections, mortgage approvals and appraisals. When searching for the ideal home, expect to encounter a few issues along the way, such as homes listed as contingent.

Purchase and sale agreement 145

Purchase and sale agreement Backup offer Home sale contingency Short sale 145

Rent, Buy & Sell

JANUARY 20, 2023

Foreclosures and short sales may be enticing due to low offer prices, but they carry some risks and potentially higher costs. For example, the average sale price of a home from January to March 2007 was $322,100. Drawbacks of Buying in a Housing Recession Not every home you spot for sale will be a good deal.

Title search 59

Title search Short sale Title Fixed-rate mortgage 59

HomeLight

JUNE 8, 2021

Even in today’s hot seller’s market where homes attract offers in as few as 16 days , it takes around 2-plus months to sell a house from list to close. Alternatively, you could request a full cash offer through a platform like Simple Sale , slashing your closing timeline to 10 days or the move-out date of your choosing.

Short sale 111

Short sale Agents Sales Days on market 111

Keeping Current Matters

JANUARY 21, 2021

Economist of Capital Economics, agreed: “The 140,000 drop in non-farm payrolls was entirely due to a massive plunge in leisure and hospitality employment, as bars and restaurants across the country have been forced to close in response to the surge in coronavirus infections. However, we need to give it some context. Michael Feroli, Chief U.S.

Marketing 199

Marketing Short sale Industrial Closing 199

CT Homes

OCTOBER 13, 2023

We can close quickly! An auction might quicken the sale, but there’s a hefty risk of your home being sold for much less than it’s worth. The last option, a short sale – when the home is sold for less than the outstanding mortgage – is another path. Selling a home in foreclosure? Even tougher.

Short sale 74

Short sale Inspection Closing Sales 74

Realty Biz

SEPTEMBER 23, 2023

They provide services such as guiding buyers through the home buying process, offering expertise in the local market, and assisting with negotiation and closing. How Buyer Agents Get Paid Buyer agents are typically compensated through a commission fee, a percentage of the property's final sale price. What is a Buyer's Agent Agreement?

Purchase and sale agreement 73

Purchase and sale agreement Pre-approval Agents Pre-qualification 73

Keeping Current Matters

OCTOBER 21, 2020

A decade ago, there wasn’t a forbearance option, and most banks did not put in other programs, like modifications and short sales, until very late in the crisis. The real estate market has a shortage of listings for sale. In 2008, homes for sale flooded the market. Here is why this time is different.

Equity 206

Equity Banks Closing costs Loans 206

HomeLight

SEPTEMBER 20, 2022

Short sales can provide an excellent opportunity for potential homebuyers to score a good deal. If you’re in the market to buy a short sale home, you’ll need to prepare for a lengthy closing process and steel yourself to jump through some hoops not generally associated with traditional sales.

Short sale 85

Short sale Sales Pre-approval Equity 85

HomeLight

JULY 31, 2022

Here are some options for pulling a successful sale, regardless of where you stand on your mortgage. This minimum equity ensures that you’ll have the funds for necessary home sale expenses (such as staging , repairs , and closing costs ), plus some leftover profit to put towards your next down payment or security deposit.

VA loan 70

VA loan Purchase and sale agreement Short sale Pre-approval 70

HomeLight

OCTOBER 5, 2020

As fate would have it, right when you’re ready to start seriously searching for a home to buy, your dream house is listed for sale as a short sale. If you don’t know about short sale requirements for buyers, you might feel like you’re out of luck. What’s a short sale?

Short sale 78

Short sale Sales Pre-approval Pre-qualification 78

HomeLight

DECEMBER 31, 2020

If we didn’t have them involved, I don’t know that we’d ever get to closing.”. Although many states require a real estate attorney’s involvement at closing , regardless of the complexity of the transaction, using an attorney is more than a formality. Source: (Austin Distel / Unsplash).

Title 97

Title Short sale Inspection Closing 97

HomeLight

NOVEMBER 10, 2021

The term iBuyer encompasses a list of companies including Opendoor, Offerpad, Zillow, Redfin, and HomeLight (we offer iBuying services through our Simple Sale and Trade-In platforms). Close in as few as 10-14 days. However, program details can frequently change. Selling a house is often a complete pain in the you-know-what.

Home sale contingency 98

Home sale contingency Sales Closing Short sale 98