The KCM Crew tries its best to be unbiased when they disseminate information. I respect them for that and know they are providing a great service to sellers, buyers and industry professionals. However, today I want to use this blog to espouse a particular point of view, my view – that homeownership in this country is […]
In the past few days, three separate pricing reports showed that national house prices have begun to soften. Altos Research shows that prices fell 3.1% over the last three months. Clear Capital’s Home Data Index Market Report shows that prices have fallen 5% in the last quarter. The Zillow Real Estate Market Report shows a 1.2% […]
Being a PROFESSIONAL Loan Originator in today’s market requires more than just a fancy title on a business card or the affiliation with a recognizable name in lending. As regulators try to continue to minimize the importance of the counsel of talented lenders through tightening guidelines and the guise of transparency, the public needs to […]
In yesterdays blog post, we listed the five reasons a homeowner should use a real estate professional to sell their house. We thought we did a good job. However, many industry practitioners (and some homeowners) contacted us to let us know we missed one of the most important benefits agents offer: the exposure they give […]
Should you spend the money on a real estate commission or save that money by selling your home by yourself? That is a question many home sellers ask themselves. Today, we want to discuss why it is crucial to have a true professional guiding you through the minefield of challenges that exist in the current real […]
The economy is still struggling. Employment numbers are not improving. The housing market is stagnant. The Federal Open Market Committee (FOMC) decided that a new form of stimulus was necessary to kick start the job market and the economy. They decided to ‘put more money’ into the market. The term for the new stimulus package […]
Even the government now realizes that there is no way to prevent a large number of distressed properties (foreclosures and short sales) from entering the housing market. The impact will be continued downward pressure on all home prices. Distressed properties sell at discounted values: foreclosures at 65% of full value and short sales at 85% […]
Open Houses have long been a tool used by agents to get a home seen. On any given weekend, there are dozens of them in every community in America. How can your real estate agent position YOUR Open House differently to make it stand out from the rest? Remember, the goal of the Open House […]
First, there were the foreclosures caused by sub-prime loans. Then, there were the foreclosures credited to the exotic Alt-A loans. Many of these loans were written in the states that had the highest increase in real estate values – California, Nevada, Arizona and Florida. Because the majority of these loans were taken in these states, […]
Almost every mortgage expert predicted that interest rates would skyrocket earlier this year as the Fed backed out of purchasing mortgage-backed-securities. They were wrong and most have refrained from making any new projections ever since. Last week, our own friend and adviser, Dean Hartman, said they may go lower. This week, Market Watch reported on […]
Banks have lifted their freeze on foreclosures. It seems a doomsday scenario will be averted. There is no way to absolutely predict what the fallout will be from the banks’ negligence in their foreclosure filings. There will be lawsuits and some will cry out for the banks to make forms of restitution to injured parties. […]
This is a question anyone thinking about selling must ask. Should they sell now or should they wait for the spring? Most years that would be an interesting question. There is a belief that many buyers come out in the spring and, with that increase in demand for housing, prices may appreciate. This year is […]
Our very own lead blogger, Steve Harney, has been honored by being nominated for the list: Inman News 100 Most Influential Real Estate Leaders Please vote for Steve by clicking on the link.
As underwriting guidelines for lenders become more stringent, it becomes clearer what a good mortgage application looks like. As prospective home buyers begin their search, there are a few things they can do to help get their loans approved (and with the best possible terms), and, at the same time, lessen some of the stress […]
We try our best to deliver a blog post everyday that is filled with facts and studies on the housing industry. Every once in a while, one of our bloggers asks to be able to voice their ‘opinion’ on a particular point. This is one of those days. Here is Steve Harney’s opinion on the […]
If you know a great real estate professional, you might be questioning them right now. They may tell a friend of yours in the afternoon that this is a great time to buy a home and in the evening tell another friend that they have to lower their price in order to sell their home. […]
Strategic default: when a borrower defaults on their mortgage even though they have the financial ability to repay it. Strategic defaults lead to foreclosures. It is important to realize that an increase in the number of foreclosures will dramatically impact any possible housing recovery. A loss of income or an increase in negative equity (where the […]
We have received many questions about a possible 3.8% tax which will be put on home sales beginning in 2013. We want to do our best to clarify this situation for everyone. We are not accountants and give you this information just as a simple answer to the misconception. Understand that, when it comes to […]
It appears they CAN and that they WILL. The buzzwords today are Quantitative Easing. It is another of the weapons the Fed has at its disposal to impact the economy, as a whole, and interest rates in particular. Let me explain. In so far as the Fed has already lowered the rates they charge to […]
Several banks had recently suspended foreclosure procedures on hundreds of thousands of homes while they were forced to review all their paperwork. The lenders had to prove they fulfilled the legal requirements for repossession. We have reported that homeowners of all non-distressed properties were given a window of opportunity to sell their house without the competition […]
Selling your house in today’s market can be extremely difficult. It is for that reason that every seller should take advantage of each and every opportunity that appears. Each fall, such an opportunity presents itself. This fall, that opportunity may be just too good to pass up. Below are five reasons you should consider when […]
There has been a furor the last two weeks regarding the robo-signer scandal. Dean Hartman, a guest blogger and friend, made the case that a moratorium makes no sense and would do more harm than good. Others have made the opposite argument. The KCM Crew has posted on possible ramifications and a possible silver lining to […]
There is no doubt that the current foreclosure mess is creating havoc in the housing industry. Listings are being removed from the market and many closings are being delayed and, in some cases, even canceled. No one is sure what the full impact of the situation will be or when it will be rectified. However, there […]
Here is guest blogger Dean Hartman’s strong opinion on the current foreclosure mess. – The KCM Crew This is just my less-than-humble opinion, intended to spark some dialogue. A common scenario: People default on their mortgage (that’s wrong) and the bank is compelled to foreclose to protect the interests of their shareholders. During the process […]
We constantly hear that the real estate market will not recover until the job market does. That definitely makes sense. It would be difficult to commit to making a monthly mortgage payment without knowing you have a paycheck coming. The big question is whether you should wait for the employment situation to get better before […]
