Are You a Buyer Looking to Purchase a Short Sale?

May 8, 2012 by Leave a Comment

In the market to buy a new home? Want a great deal and think that a Short Sale is the best option or vehicle for your discounted home purchase. A short sale real estate transaction may not be as smooth or as “discounted” as you may believe. If you are going to purchase real estate in a short sale, here are 4 items to consider:

1) On average the approval time for a short sale can take 60 to 90 days.

2) A misconception is that a short sale can sell for a big discount below the listed price (40% – 60%). Remember a bank will conduct its own valuation (BPO) to determine market value of the property. A discount yes, but not “half off.”

3) The entire short sale process can be tedious, make sure you work with both a Realtor and Attorney who are familiar with the short sale process.

4) Most short sale transactions are sold “As Is.”

For a more in depth look at these 4 points, check out my good friends at Keeping Current Matters. Here is a link to their full story:  Are You a Buyer Looking to Purchase a Short Sale?.

Filed Under: Home Buying, Short Sales

Further Proof the Real Estate Market Is Coming Back

April 30, 2012 by Leave a Comment

Is the Housing Market really bouncing back? The National Association of Realtors certainly believes so. NAR recently released their March 2012 Pending Home Sales Index (a forward-looking indicator based on contract signings) and their numbers do show a strong March. According to this report (you can get their report HERE) March 2012 is shows an increase of sales contract signings of 12.8% above March 2011. The Index’s score of 101.4 is the highest score since April 2010.

The full store from NAR can be seen HERE.

Filed Under: Chicago Real Estate, Home Buying

Short Sale Percentages by State

April 27, 2012 by Leave a Comment

The sunbelt is still leading the National in % of sales that are short sales. This can equate to the regions that were hardest hit in the deduction of home values or loss of equity. The Southeast (particularly Georgia and Florida) were also hard hit with this loss of home values.

 

Filed Under: Home Buying, Short Sales

2012 could be record year for short sales | Inman News

April 19, 2012 by Leave a Comment

 

If you think Short Sales are on the decline, think again. RealtyTrac, a foreclosure data aggregator, believes that 2012 could see a huge increase in short sale activity. In January 2012, homes in the foreclosure process (which typically become Short Sales) rose over 33%. For the full article – check out the link below.

2012 could be record year for short sales | Inman News.

Filed Under: Home Buying

3 Questions You Must Answer When Buying a Home

April 17, 2012 by Leave a Comment

 

The Spring market sprung early in Chicago this year, and around most of the United States as well. With interest rates still low, and housing prices historically low as well timing is great to make a home purchase.

As with stocks, the key to making money in real estate is to buy low and sale high, or said differently, you make money in real estate when you buy the property – not when you sell.

KCM has a great quick blog post today talking about three reasons the time is right to buy (What is Warren Buffett saying, when will appreciation begin, and why buy in the first place). Check it out at the link below.

3 Questions You Must Answer When Buying a Home.

Filed Under: Home Buying

Months’ Supply of Distressed Properties by State

April 13, 2012 by Leave a Comment

This is a great map to show the back log of distressed properties throughout the USA. As soon as this distressed inventory is sold off, then housing prices will begin to recover.

Months’ Supply of Distressed Properties by State.

Filed Under: Home Buying, Uncategorized

Americans Predict Rents and Home Prices to Increase

April 11, 2012 by Leave a Comment

Lincoln Park Condos, Chicago Real estate agent Matt Pauli

Fannie Mae issues a report on the housing industry quarterly, and this last March report had some interesting findings from a consumer confidence level. Here are some highlights:

  • Thirty-three percent of respondents expect home prices to increase over the next 12 months, the highest level over the past 12 months.
  • The percentage of respondents who say it is a good time to buy rose to 73 percent, the highest level in over a year.
  • Forty-eight percent of respondents think that home rental prices will go up, the highest number recorded to date.
  • On average, respondents expect home rental prices to increase by 4.1 percent over the next 12 months,the highest number recorded to date.

For the full blog posting from my friends at KCM click here –> Americans Predict Rents and Home Prices to Increase. If you are interested in the complete survey from Fannie Mae, then click —> HERE.

Filed Under: Uncategorized

The 4 C’s of Mortgage Underwriting

April 5, 2012 by Leave a Comment

My friends over at Keeping Current Matters, have a nice blog post reminding home buyers about the main criteria a lender will look at when evaluating your loan application. If you are considering getting into the market, I’d check out this post. Good info!

The 4 C’s of Mortgage Underwriting.

Filed Under: Home Buying, Mortgages

Hello world!

March 20, 2012 by 1 Comment

Welcome to WordPress. This is your first post. Edit or delete it, then start blogging!

Filed Under: Uncategorized

Decorating a Contemporary Dining Room

September 15, 2011 by Leave a Comment

Decorating a Contemporary Dining Room

This is an example of a WordPress post, you could edit this to put information about yourself or your site so readers know where you are coming from. You can create as many posts as you like in order to share with your readers what exactly is on your mind.

This is an example of a WordPress post, you could edit this to put information about yourself or your site so readers know where you are coming from. You can create as many posts as you like in order to share with your readers what exactly is on your mind. This is an example of a WordPress post, you could edit this to put information about yourself or your site so readers know where you are coming from. You can create as many posts as you like in order to share with your readers what exactly is on your mind.

This is an example of a WordPress post, you could edit this to put information about yourself or your site so readers know where you are coming from. You can create as many posts as you like in order to share with your readers what exactly is on your mind.

This is an example of a WordPress post, you could edit this to put information about yourself or your site so readers know where you are coming from. You can create as many posts as you like in order to share with your readers what exactly is on your mind. This is an example of a WordPress post, you could edit this to put information about yourself or your site so readers know where you are coming from. You can create as many posts as you like in order to share with your readers what exactly is on your mind.

Filed Under: Featured
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