Lighter Side of Real Estate

APRIL 6, 2022

You’re probably well aware that mortgage rates are rising. Which means you’ve probably been reading or hearing about adjustable rate mortgages making a comeback. The 30-year fixed rate mortgage has been so historically low, they haven’t been all that necessary to consider. So your rate isn’t fixed for the life of the loan.

Mortgages 141

Mortgages Fixed-rate mortgage Banks Lending 141

RIS Media

MARCH 25, 2021

Fueled by low interest rates, loose mortgage-lending standards and the nation’s unshakeable faith in homeownership, home values rose at record rates year-after-year. When the housing bubble burst, roughly nine million families lost their homes to foreclosure or short sale between 2006 and 2014. Factor No.

Marketing 131

Marketing Equity Lending Short sale 131

First Team Real Estate

JANUARY 29, 2021

Put in place back in March, direct mortgage servicers are required to halt all new foreclosures and suspend any that are in progress for FHA properties. homeowners are more financially stable and have more equity in their homes. It also stops evictions from these properties. But what happens once these forbearance protections run out?

Equity 98

Equity Lending Short sale Sales 98

HomeLight

JUNE 16, 2023

When housing prices are especially strong, homeowners typically have lots of equity in their homes. And then if they start having trouble making mortgage payments, they are much more likely to sell those homes via the traditional route than to let the home be foreclosed on. There are downsides to hard money loans, however.

Hard money loan 78

Hard money loan Equity Finance Loans 78

Marco Santarelli

JULY 23, 2022

People who recall the subprime mortgage crisis are concerned that the recent spike in home prices followed by a pause signals the bursting of another housing bubble. Due to the crash, there may also be short sales and foreclosures, offering you the opportunity to acquire a deal. But is the housing market truly in a bubble?

Mortgages 52

Mortgages Marketing Lending Equity 52

HomeLight

JUNE 30, 2021

Between favorable mortgage interest rates and a low inventory of available homes for sale, buyers were submitting purchase offers of thousands of dollars over asking price , and sellers (and their agents!) Housing-specific recession sign #5: Loose lending standards. Housing-specific recession sign #7: Home equity is stretched.

Equity 64

Equity Loans Lending Industrial 64

Housing Wire

APRIL 8, 2022

One of the reasons that I moved into the “team higher mortgage rate” camp is that what I saw in January, February, and March of this year was so unhealthy that I labeled the housing market savagely unhealthy. housing market, and we should never ease lending standards to try to facilitate demand.

Marketing 393

Marketing Lending Short sale Equity 393

HomeLight

DECEMBER 29, 2020

Sellers have equity, and short sales are unlikely. Selling your home before a recession may be the perfect opportunity to liquidate your equity and build up your nest egg. Also, homeowners with equity in their home are unlikely to need to negotiate a short sale because they won’t be underwater on their mortgage loan.

Short sale 91

Short sale Loans Equity Sales 91

HomeLight

SEPTEMBER 30, 2020

Should you drop a full 20% on a house and avoid mortgage insurance , even if it nearly wipes out your savings? With a larger down payment, you’ll have a lower monthly payment, a potentially lower interest rate, and either a lower or no mortgage insurance payment.”. We had to do a short sale on our home and start from scratch.”.

Closing costs 84

Closing costs Loans Short sale Finance 84

Calculated Risk Real Estate

JUNE 8, 2023

During the housing bubble, many homeowners borrowed heavily against their perceived home equity - jokingly calling it the “Home ATM” - and this contributed to the subsequent housing bust, since so many homeowners had negative equity in their homes when house prices declined.

Closing 94

Closing Equity Principal Short sale 94

HomeLight

JULY 6, 2023

Financing contingency Sometimes called a mortgage contingency , this specifies that the deal hinges on the buyer securing their loan. Appraisal contingency To ensure they aren’t lending more than a property’s fair market value, lenders typically require a home appraisal. How does a listing status get changed?

MLS 92

MLS Backup offer Inspection contingency Purchase and sale agreement 92

HomeLight

MARCH 21, 2022

House flippers look for specific improvements to boost equity, such as cosmetic updates, mechanical repairs, an addition, or a change to the layout. Opendoor buys homes of varying condition, but criteria like a short sale, unpermitted work, or dated materials may impact whether the company is willing and able to purchase a home.

Closing costs 95

Closing costs Home sale contingency Investor Closing 95

HomeLight

FEBRUARY 24, 2023

Typically, they buy distressed properties — either short sales, foreclosures, or homes that need significant work — fix them up, and sell them for a profit. FHA 203K Mortgage : This option allows homeowners to finance up to $35,000 in repairs identified by an FHA home appraiser or inspector. And how do you find those people?

House Flipping 93

House Flipping Renovation Investor Finance 93

HomeLight

MARCH 10, 2023

Typically, they buy distressed properties — either short sales, foreclosures, or homes that need significant work — fix them up, and sell them for a profit. According to the real estate investment lending site New Silver, the average Fix and Flip investors in New York are generating $56,400 per flip.

House Flipping 88

House Flipping Renovation Investor Finance 88

HomeLight

JULY 31, 2021

For example, during the Great Recession , home prices fell 13.9%, leaving many homeowners underwater on their mortgages (in other words, owing more than the home is worth). Equity is your friend. And if you ever need to access that money down the road, you can leverage it through a home equity loan or line of credit.

Investor 90

Investor Equity Renovation Mortgages 90

The Close

DECEMBER 29, 2022

Furthermore, in today’s market, understanding our complex mortgage industry could actually help you close more deals and maybe even save clients money. So we’ve included a handy download with questions your clients should ask their mortgage broker. Adjustable-rate mortgage (ARM). Assumable mortgage. Acceleration clause.

Purchase and sale agreement 97

Purchase and sale agreement Title Proof of funds Pre-approval 97

Marco Santarelli

AUGUST 5, 2022

When shoddy mortgages crumbled, the nation was left with foreclosures, numerous new houses remained empty, and millions of Americans were suddenly underwater. The majority of bad mortgages have been eliminated. In addition, the mortgage sector took action against loans that ballooned in size or were intended for borrowers to fail.

Marketing 113

Marketing Mortgages Lending Construction 113

Realty Biz

APRIL 18, 2021

A billionaire who made his fortune shorting subprime mortgages is saying the current housing market is an even bigger bubble than before the Great Recession set in. The low mortgage rates, soaring home prices, and the dizzying new reality the workforce is being swept into make the market unsteady and explosive, for many.

Land 107

Land Marketing Banks Equity 107