We reported two months ago that foreclosures will significantly increase this summer as a result of The National Mortgage Settlement. This month, both Reuters (Americans brace for next foreclosure wave) and CNNMoney (Flood of foreclosures to hit the housing market) concurred. However, we believe this increase in distressed properties will have a much different impact […]
If you are thinking about purchasing a home right now, you are surely getting a lot of advice. And some of that advice is probably negative. Why buy now with prices still falling? Don’t you realize real estate is no longer a good investment? Don’t you know that people who bought six years ago lost […]
With the housing market beginning to heat up, we are afraid some sellers may consider trying to sell their house as a For Sale By Owner (FSBO). Here is an article we ran last summer that sellers should consider. – KCM Crew This blog prides itself on the quality of real estate information we deliver each […]
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The months it would take to sell off all homes under distress or 90 days or more delinquent based on the current sales pace.
I learned a long time ago that “common sense is NOT common practice“. This is especially the case during the emotional time that surrounds buying a home, when people tend to do some non-commonsensical things. Here are a few that I’ve seen over the years that have delayed (and even killed) deals: Don’t deposit cash into […]
We report on Fannie Mae’s Quarterly National Housing Survey every ninety days. Fannie Mae also does a monthly survey covering different aspects of the housing market. Here are some record numbers we found interesting in Fannie Mae’s March report (emphasis added). Thirty-three percent of respondents expect home prices to increase over the next 12 months, the […]
I truly believe that now is one of the greatest times in American history to buy a home whether it is a primary residence, a vacation home, or an investment. Cynics may believe I speak highly of the benefits of owning real estate simply because I am in the industry as a speaker and lecturer. […]
If you are either buying or selling a home in today’s market, you need a real estate expert. However, we must realize what the term ‘expert’ actually means. An expert in any area cannot give perfect advice as no one can predict the future. But they can give excellent advice based on their insight into […]
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With Spring upon us, and new buyers out looking for houses, I thought today might be a good time to review the basics of what lenders look for as they decide to approve (or deny) mortgage applications. For at least 25 years, I have heard them called “The 4 C’s of Underwriting”- Capacity, Credit, Cash, […]
Each quarter, Fannie Mae releases their National Housing Survey. They survey the American public on a multitude of questions concerning today’s housing market. We like to pull out some of the findings we deem most interesting each time it is released. Here they are for the most recent report: 84% of the general population believes […]
In yesterday’s blog post, we explained that many experts believe home sales will increase in 2012. Today, we want to make sure that our readers realize that it will still take time for prices to begin to appreciate. Pricing is about supply and demand. Though demand is increasing, there is still a large supply of […]
We believe that 2012 will be the year that home sales start to climb again. Over the past thirty days, more and more experts are saying the same thing. Jamie Dimon, JPMorgan Chase CEO “I believe we’re very close to the inflection point. People look at prices that are still coming down but all the […]
Quick Tip Today: Be aware that companies you do business with may sell your credit information. Now, many of the people buying the names and addresses of people who have given their credit information are legitimate marketing companies who are searching for a particular target audience. But lately, there is a rise of not-so-legitimate people […]
The Spring market is upon us. Professionals across the country are reporting that buyer activity is very strong. Purchasers are beginning to realize that this is one of the greatest times in American real estate to buy a home. There are basically four reasons for this: They realize that it is the COST of the […]
Last week, Trulia released their Winter 2012 Rent vs. Buy Index. In the index, they report that: “After years of home price declines and tightening rental markets, home ownership is now more affordable than renting in all but two of the 100 largest metros – even in expensive real estate markets such as New York, […]
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Here comes Spring, historically the time of year when buyers awake from the winter slumber of the holidays and snowfall, and go on their pilgrimage to look for new housing. Houses look better in Spring with green grass, blooming trees, and flowers. Plus, buyers who find a home in the next 60 days can close […]
Because of the challenges in the current economy, many families have either decided to rent or been forced to rent. How has this impacted rental options and the cost of the available options? HousingWire recently quoted Paul Dales, senior economist with Capital Economics: “As a consequence of Americans being less willing and less able to […]
We try to give our readers great real estate information each and every day. This information is usually in the form of analysis of the most current reports and studies on housing. We almost never use anecdotal stories. Today, we are making an exception because we were moved by this story. Willow Tufano is a […]
We have often advised buyers to look at the COST of purchasing a house more than the PRICE of the home. Obviously, price is part of the cost equation. The other piece, assuming you are not an all cash buyer, is the mortgage rate. The mortgage rate to finance a purchase can have a dramatic […]
It’s the time of year when the so-called experts tell you how to fill out your brackets for college basketball. The frenzy has been coined March Madness. Well, in the mortgage industry, we are seeing a frenzy of headlines, offers of so-called expert advice, and an unusually high level of buzz around real estate and […]
