Housing Wire

DECEMBER 21, 2022

From NAR : “In essence, the residential real estate market was frozen in November, resembling the sales activity seen during the COVID-19 economic lockdowns in 2020,” said NAR Chief Economist Lawrence Yun. Mortgage rates spiked in March, and then the new listing data started to decline at the end of June.

Sales

Housing Wire

JULY 1, 2021

Servicers should also be sharing the mathematics of mortgage forbearance. Hubzu for Signature Seller Assisted Sale (SSAS), standard short sale, foreclosure and ultimately REO management and sales) that can perform well, no matter the volume. All those missed payments and interest need to be paid back.

Short sale

Keeping Current Matters

JANUARY 13, 2021

At the onset of the economic disruptions caused by the COVID pandemic, the government quickly put into place forbearance plans to allow homeowners to remain in their homes without making their monthly mortgage payments. First, the homeowner suffers an adverse economic shock…leading to the homeowner becoming delinquent on their mortgage.

Equity

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. What is a short sale?

Short sale

Keeping Current Matters

MARCH 10, 2021

Last March, many involved in the residential housing industry feared the market would be crushed under the pressure of a once-in-a-lifetime pandemic. Home sales and prices were both up substantially over the year before. Mortgage standards are nothing like they were back then. Instead, real estate had one of its best years ever.

Equity

Keeping Current Matters

OCTOBER 21, 2020

Many housing experts originally voiced concern that the mortgage forbearance program (which allows families impacted financially by COVID to delay mortgage payments to a later date) could lead to an increase in foreclosures when forbearances end. Some originally forecasted that up to 30% of homeowners would choose to enter forbearance.

Equity

The Residential Specialist

DECEMBER 21, 2022

Experts who worked through The Great Recession of 2008 share how to handle tricky short-sale transactions. With its perfect storm of record-low property values and record-high unemployment, The Great Recession of 2008 triggered a rash of residential short sales. Short sales are not suited to all REALTORS ®.

Short sale

Calculated Risk Real Estate

DECEMBER 12, 2024

homeowners with mortgages (which account for roughly 62% of all properties) saw home equity increase by $425 billion since the third quarter of 2023, a gain of 2.5% Just compared to last quarter, the number of residential properties that fell into negative equity increased by 30,000 homes or 1.8%. Mortgage debt is up $2.58

Closing

Realty Biz

JULY 19, 2022

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. A house enters the pre-foreclosure process after the owner misses one or more mortgage payments and the lender sends a Notice of Default (NOD).

Purchase and sale agreement

Realty Biz

AUGUST 6, 2021

The housing bubble bust of 2008 resulted in almost 10 million Americans losing their homes to foreclosures and short sales. Today, there is a severe housing shortage with many want-to-be-buyers but few that can afford a mortgage. What We Learned From the Great Recession. Values plunged 30% and more in some areas.

Short sale

Realty Biz

MAY 22, 2022

Despite 30-year mortgages being firmly above a 5% interest rate, mortgage applications for home purchases increased 5% in mid-May. What is different this year is that buyers are turning to adjustable rate mortgages in higher numbers than at any time in the past 14 years. Now, the share of ARMs is 11% of overall mortgage loans.

Short sale

Easy Agent Pro

OCTOBER 29, 2020

Overnight, real estate agents became “short sale experts” during a time when few even knew what the term meant. Brush up on the foreclosure and short sale process by taking the classes (it’s actually a one-day session you can do online” leading to NAR’s short sale and foreclosure designation.

Short sale

Marco Santarelli

JUNE 12, 2021

The closed sales surged by 84.9% YoY in April while the median sales price was up 16.8% T he residential real estate market in the Tampa Bay area continues to churn unimpeded even in times of the pandemic. The low mortgage interest rates are helping first-time buyers as far as housing affordability is concerned.

Marketing

HomeLight

SEPTEMBER 2, 2021

Mortgage interest deduction. Before the Tax Cuts and Jobs Act, homeowners could deduct interest on up to $1 million in mortgage debt if married and filing jointly, or $500,000 if single or married and filing separately. The super-great news is that your mortgage interest payments and even late fees (sometimes) are deductible.

Residential

Realty Biz

JANUARY 19, 2023

The total balance owed on a mortgage is more than the house is currently worth. Selling a home with an underwater mortgage is never a good idea. One such option on the table is a short sale. A lender may not take the bait and agree, and a short sale could damage your credit, though not as much as a foreclosure.

Short sale

HomeLight

JULY 31, 2022

Here are some options for pulling a successful sale, regardless of where you stand on your mortgage. Essentially, equity is the market value of your property minus the amount of money you still owe on your mortgage loan. VA-backed mortgage as marketing. Check your equity to get started. Home Loan program.

VA loan

Realty Biz

MARCH 16, 2023

ML: I’m a subject matter expert on foreclosures, short sales, technology and social media, and then I am a full time instructor in the State of Illinois, dealing with license law, pre-licensing, that sort of thing. We recently sat down with Marki to discuss her real estate career past and present.

Short sale

Realty Biz

NOVEMBER 18, 2021

One of the few times that a lender will use a BPO instead of requiring an appraisal is for a short sale. BPOs are also ordered by banks, mortgage loan companies, and asset management companies for several other reasons: Home purchases. Bank-owned property sale of a foreclosed property. Home loan refinances.

Short sale

Realty Biz

MAY 21, 2023

Miami-Dade’s out-of-state homebuyers with a mortgage earn nearly $100,000 in median household income. 5 in ultra-prime ($25M+) sales in the world, according to the 2023 Knight Frank Wealth Report. Mortgage Rates Up 3 Percentage Points Vs. Last Year; Impacting Sales Miami total home sales decreased 35.5%

Sales

Realty Biz

FEBRUARY 21, 2021

Miami-Dade County total home sales posted a double-digit increase for the fifth consecutive month in January 2021 as pent-up demand and record-low mortgage rates continue fueling transactions, according to the MIAMI Association of Realtors (MIAMI) and the Multiple Listing Service (MLS) system. Short sales and REOs accounted for 0.7%

Sales

Realty Biz

DECEMBER 26, 2022

“This influx of people and companies moving into our region, coupled with the ratio of cash buyers which is nearly double the national average should continue to shield Miami from the impact of high mortgage rates as the Fed continues its mandate to tamper inflationary pressure.”. Single-family home sales decreased 38.5%

Sales

Realty Biz

MARCH 29, 2021

Mortgage loans do not qualify as a budget strategy; hence you’ll be required to seek alternative channels for purchasing a property. The most advisable flipping modes are distressed properties, short-sales, and bank-owned homes, among other sub-optimal state assets. Set Up a Budget. The Profit Potential.

House Flipping

Realty Biz

MARCH 21, 2023

Miami-Dade $1-million-and-up transactions surged triple digits versus pre-pandemic 2019 transactions as total pending home sales and showing appointments rose again for the second consecutive month, according to February 2023 statistics released today by the MIAMI Association of Realtors (MIAMI) and the Multiple Listing Service (MLS) systems.

Sales

Calculated Risk Real Estate

JUNE 7, 2024

homeowners with mortgages (roughly 62% of all properties*) have seen their equity increase by a total of $1.5 In the first quarter of 2024, the total number of mortgaged residential properties with negative equity decreased by 2.1% of all mortgaged properties. of all mortgaged properties. Mortgage debt is up $2.38

Closing

RIS Media

MARCH 18, 2022

Existing-home sales fell by 7.2% in February, furthering the volatility pattern of the past few months in residential real estate, according to the National Association of REALTORS® (NAR) latest report. regions experienced lower month-over-month sales in February. Likewise, year-over-year sales were down a total of 2.4%

Sales

Realty Biz

AUGUST 4, 2020

Right now, I’m more than a month behind on my mortgage payment and I don’t see a way forward to make the payments for many months to come. All things considered, I can’t sell the house to pay off the mortgage. Underwater is a term that you hear a lot that means the house is worth less than what is owed on the mortgage.

Equity

Realty Biz

FEBRUARY 5, 2022

His experience in his early career were listings of Residential in Florida and Vacation Land in Tennessee. He left the real estate field in 1995 to focus on completing his law enforcement career and after retiring he returned in 2007 as a Sales Associate and later Broker Associate.

Residential

Realty Biz

MARCH 29, 2021

Mortgage loans do not qualify as a budget strategy; hence you’ll be required to seek alternative channels for purchasing a property. The most advisable flipping modes are distressed properties, short-sales, and bank-owned homes, among other sub-optimal state assets. Set Up a Budget. The Profit Potential.

House Flipping

The Close

APRIL 30, 2024

If the seller can offer full or partial seller financing at slightly better than market mortgage rates, a buyer may be willing to pay a little more for the property since they’ll save money on interest payments over time. Luxury listings have a smaller buyer pool, so they inherently have a longer sales timeline. Would that help?

Agents

The Close

DECEMBER 19, 2022

In most states, in order to facilitate real estate transactions involving the securing and enforcing of a lease on a residential or commercial property, the property manager must either own the property themselves or hold a real estate license. Are short-term rentals popular in your town? Become a Property Manager.

Agents

Realty Biz

SEPTEMBER 23, 2023

Understanding the mortgage process, including prequalification and pre-approval, is also essential. Whether it's residential, commercial, or investment properties, working with an agent with expertise in your desired area can be highly beneficial. It is essential to prepare for the mortgage pre-approval process.

Purchase and sale agreement

Marco Santarelli

SEPTEMBER 21, 2021

The statewide data on residential homes from the 42 regional listing boards that comprise the Michigan Association of Realtors show that the average sales price increased 11.79 The total residential sales in the state recorded a decine of -18.12% year-over-year, from 15,696 to 12,852 sales. August 2019 was $43.

Marketing

HomeLight

JANUARY 13, 2022

An appraisal contingency allows a buyer to walk away from a sale if after an appraisal is completed if the value of the home is found to be less than the purchase price. You’ll likely need this type of contingency even if you’ve been preapproved for a mortgage as that process does not guarantee that you’ll get a loan.

Backup offer

Marco Santarelli

JULY 11, 2022

If mortgage rates continue to rise, although, at a slower rate than in recent months, demand will likely decrease in the fall and winter, while home prices will continue to grow, albeit at a slower rate. Prices are increasing as a result of enough money on the sidelines and very low mortgage rates. million last month from 1.8

Sales

HomeLight

DECEMBER 30, 2021

After you accept an offer, the buyer’s mortgage lender typically contacts a third-party appraisal management company (AMC ). A residential home appraiser’s job is to provide a professional opinion of your home’s value so the lender knows that the house is worth at least what the buyer asks to borrow for the purchase.

Loans

RIS Media

NOVEMBER 15, 2020

Ballard trained hundreds of agents nationwide during the 2007-2010 subprime mortgage crisis in the short-sale and loss mitigation processes. Acquiring his broker’s licenses under the two-year experience cap, he has experience in residential buying and selling, as well as commercial leasing, buying and selling.

Short sale

HomeLight

APRIL 30, 2021

Lenders require buyers who are getting a mortgage to obtain an independent, third-party appraisal prior to their home closing. While similar to a CMA, a BPO can crop up during a foreclosure or short sale, when a lender might ask for such calculations, says Herring, who has conducted these for lenders.

Marketing