The intent of this Weblog is to share my extensive knowledge in the Real Estate industry and to better prepare you for the purchase or sale of your first or next home, property or business.
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• Consumers considering the purchase of a home should first get their credit and finances in order. Reducing spending, limiting credit card balances to no more than 25 percent of the available balance, and monitoring credit reports are highly recommended by most financial experts. Even borrowers with less [...]
Anecdotal evidence suggests only 50 percent of borrowers applying to refinance are being approved, down from 60 to 70 percent during previous refinance cycles. Homeowners with FICO scores below 700 or with little equity in their homes likely will not qualify to refinance. To increase the likelihood of receiving approval, some borrowers are [...]
Fannie Mae and Freddie Mac have agreed to suspend foreclosure sales and evictions through the end of January 2009; however, Freddie Mac, unlike Fannie Mae, is continuing the foreclosure process and filing the necessary paperwork. According to Freddie Mac, even though the process is continuing, the actual sales and evictions have stopped.
The number of California households receiving notices of default — the first step in the foreclosure process — rose 122 percent between November 2008 and December 2008, following a three-month decline, according to RealtyTrac.
Some real estate analysts believe a California law that required mortgage lenders to provide customers with 30 days notice, before filing a [...]
Consumer confidence declined to a new all-time low of 38 (1985=100) in December after posting a modest increase the previous month when it stood at 44.7, according to a report released yesterday by The Conference Board. The Board’s Present Situation Index fell to 29.4 in December compared with 42.3 last month and its Expectations Index [...]
According to October’s S&P/Case-Shiller Home Price Index released today, the prices of existing single family homes across the United States showed continued broad based declines, with 14 of the 20 metro areas showing record rates of annual decline and 14 now reporting declines in excess of 10 percent compared with October 2007. The 10-City and [...]
