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 102

Purchase and sale agreement Short sale Loans Inspection 102

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 262

Equity New Construction Construction Short sale 262

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 82

Short sale Equity Loans Mortgages 82

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 90

Short sale Loans Mortgages Equity 90

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 103

Short sale Loans Equity Mortgages 103

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 93

Short sale Investor Technology Principal 93

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 209

Equity Banks Closing costs Loans 209

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 84

Short sale Land Commercial Equity 84

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 73

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

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 84

Short sale Sales Pre-approval Equity 84

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 69

VA loan Purchase and sale agreement Short sale Pre-approval 69

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 77

Agents Short sale Staging Sales 77

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 111

Short sale Inspection Loans Banks 111

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 59

Equity Short sale Investor Title 59

Windemere Selling

NOVEMBER 8, 2021

They are specially trained to work with buyers through every step of the home-buyer process from mortgage to closing. A CPM® is specially trained to manage your residential or commercial property on your behalf. Accredited Buyers Representative® ( ABR® ): If you are a first time homebuyer you may want to find an ABR® designated agent.

Design 52

Design Commercial Short sale Land 52

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.

Principal 79

Principal Short sale Residential Brokerage 79

Realty Biz

NOVEMBER 14, 2023

Focus on Income-Producing Properties In times of market correction, income-generating properties such as multifamily units and commercial real estate tend to fare better than speculative residential investments. These assets can provide a steady cash flow even in a downturn.

Due diligence 91

Due diligence Marketing Investor Finance 91

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 121

House Flipping Renovation Investor Construction 121

Realty Biz

OCTOBER 11, 2021

Every investor is aware of, and many specialize in one of these sources of investment properties: foreclosures, REO, short sales, divorces, fire damage, damaged foundations, hoarders, and other distressed properties. There may still be a mortgage needing to be paid. I don’t mean to be morbid, but these are facts of life.

Investor 94

Investor Probate sale Short sale Closing 94

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 105

Agents Investor Property Management Development 105

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 94

House Flipping Renovation Investor Construction 94

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 54

Short sale Commercial Agents Residential 54

HomeLight

JUNE 23, 2023

When you’re selling property in probate, it’s especially critical to hire a listing agent with experience handling probate sales and who’s familiar with the probate processes of your state. home inspectors , contractors , residential appraisers ) who also understand the nuances of probate. Why does that matter?

Probate sale 90

Probate sale Agents Sales Closing 90

HomeLight

OCTOBER 5, 2020

The lender that’s trying to collect on the defaulted mortgage will order an appraisal on the home to determine its worth. An auction price will depend partly on what the owner still owed on the previous owner’s mortgage. Those other claims might include: A second mortgage on the home. A home equity loan or line of credit.

Due diligence 54

Due diligence Earnest money deposit Banks Inspection 54

The Residential Specialist

JUNE 30, 2021

Thompson compares the toughness of divorce listings to short sales. Maybe the mortgage hasn’t been paid. You need to know if they have the equity and the legal authority to complete the sale.”. In addition, state laws around community property can be complicated and affect each partner’s interest in the sale.

Agents 98

Agents Bankruptcy Sales Short sale 98

Housing Wire

APRIL 15, 2021

That qualification doesn’t apply if the borrowers’ parents lost their home in a foreclosure or short sale, or if the borrower has ever been in foster care, however. The proposed down payment assistance would be means-tested based on income, and limited to those who have not owned a house for at least three years.

Short sale 546

Short sale Development Loans Equity 546

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.

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Backup offer Inspection contingency Purchase and sale agreement Home sale contingency 77

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 145

Marketing Investor Residential Sales 145

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 93

Sales Short sale Fixed-rate mortgage MLS 93

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 117

Loans Agents Inspection Closing 117

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 92

Sales Short sale Mortgages Fixed-rate mortgage 92

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 87

Residential Mortgages Loans Short sale 87

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 102

Sales MLS Short sale Residential 102

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 97

Sales Construction Mortgages Short sale 97

Realty Biz

SEPTEMBER 23, 2021

Miami-Dade County real estate broke another record, posting its best August sales month in history as pent-up demand, more U.S. individuals and companies moving to South Florida, and record-low mortgage rates continue fueling transactions, according to the MIAMI Association of Realtors (MIAMI) and the Multiple Listing Service (MLS) system.

Sales 105

Sales Fixed-rate mortgage Short sale Equity 105

Realty Biz

JUNE 24, 2022

Miami-Dade County real estate posted its 10th-highest total existing home sales month in history and its second-best May sales month ever, according to the MIAMI Association of Realtors (MIAMI) and the Multiple Listing Service (MLS) system. Miami’s existing condo sales decreased 7.9% Single-family home sales decreased 12.3%

Sales 78

Sales Short sale Mortgages Fixed-rate mortgage 78

HomeLight

MAY 23, 2022

Median sales price in Indiana. Indiana law requires sellers to disclose material facts about the property through the Seller’s Residential Real Estate Sales Disclosure. This disclosure form is required for almost all residential home sales for properties hosting up to four units. Average days on market for Indiana.

As-is 97

As-is Purchase and sale agreement Inspection Closing costs 97