| RSS Feed | Phoenix foreclosure fall
New data shows the number Phoenix-area homes taken back by lenders fell to its lowest level in January since early 2008.
Last month, there were 2,263 foreclosures, or trustee sales, in the region, according to the Information Market. Pre-foreclosures, also known as notice of trustee sales, fell to 2,932, the lowest level since the summer of 2007.
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read the rest of this post Obama announces more details on refinancing for underwater homeowners
The much-anticipated details of a sweeping plan to help nearly 15 million Americans underwater on their mortgages refinance to lower rates were announced this morning by President Barack Obama during a speech in Falls Church, Virg.
The plan, first mentioned in one of the president’s speech last October, would be broadened to include not only homeowners with Fannie Mae and Freddie Mac mortgagesd, but also 3.5 million homeowners with privately-held home loans.
However, for the plan to apply to borrowers with privately held mortgages, Congresss would have to approve new legislation proposed by the president today.
Many metro Phoenix homeowners have already started to ...
read the rest of this post Can Obama's plan to help homeowners with private mortgages work?
In President Barack Obama’s State of the Union last night, he vowed to keep the “American dream” alive.
His plan includes legislation that would extend the expanded HARP refinancing program to homeowners with private loans.
Currently only underwater homeowners with mortgages backed by government-owned Fannie and Freddie Mac are eligible. To qualify, it doesn’t matter how much homeowners are underwater, but they can’t have missed more than one payment.
In Arizona, where nearly 50 percent of homeowners are underwater, I have received calls and emails from several people with private mortgages upset they don’t qualify for the government’s refinancing plan.
The federal government ...
read the rest of this post Some investors eligible for HARP 2 refinancing
Fannie Mae and Freddie Mac are changing the rules in a way doing something that could make metro Phoenix’s many home investors very happy.
The new program that allows homeowners with mortgages held by those government-owned mortgage giants to refinance, no matter how underwater they are, now will include investors. When the expanded Home Affordable Refinancing Program, or HARP, was announced in October, investors weren’t going to be to be included.
But then federal officials realized that many people who don’t live in a home they own are accidental investors. They can’t sell because they owe much more on their mortgage than their house is ...
read the rest of this post December best month of 2011 for new home sales in Phoenix
New-home sales across the Phoenix area in 2011 hit their highest level at the end of the year, according to the “Phoenix Housing Market Letter.”
In December 855, new homes sold. That’s nearly double the monthly rate in Phoenix for most of 2011. It could be that the supply of foreclosure- and resale homes is at a seven-year low, or the near-record low interest rates.
RL Brown and Greg Burger, publishers of the report, are presenting their 2012 forecast at a web conference on Wednesday Jan. 25. Recent new-home sales numbers and the big drop in foreclosure homes for sale could mean a ...
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Seller's Resources
Selling a house is a very difficult job. You want to sell your home as quickly
as possible and at its full value. You must also be aware of state & federal
laws and how they affect your sale.
This involves a lot of time, effort, and patience, as well as specialized skills
and knowledge. That is why most people turn to a Real Estate Agent for help.
When you sell your home, the Real Estate Agent will work for you as a client.
You sign a contract with the agent, called a listing contract. The agent then
works for you and receives an agreed commission when the house is sold.
In a seller/client relationship, the agent guides you throughout the real estate
transaction, providing information on such issues as pricing your home, which
purchase offers are fair, and how to structure a purchase contract to your advantage.
It is the business of the Real Estate Agent to help you sell your home with
minimum delay and to help you realize every dollar it is worth.
Although the Real Estate Agent works for you and owes you additional services,
the Real Estate Agent must also treat his or her buyer customers fairly. The
buyer is generally the customer. There is no contract between the buyer and
the Real Estate Agent.
Today, however, many home buyers use a buyer’s agent – a specialized Real Estate
Agent who is the home buyer's client and works for the interests of the buyer.
This makes it even more important for you to have an expert on your side looking
out for your best interests.
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