Monthly Archive
for: ‘March, 2011’

Buyers Shun New Homes – Bright Spots For Savy Buyers

ONCE A COMMON home buyer’s dream, new homes have lost some of their appeal. Instead, it’s fixer-uppers and foreclosures that have been capturing buyers’ attention, creating a window of opportunity for those still looking for new construction. While the real estate market has struggled across the board, new homes have been hit harder than ever …

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S&P Case-Shiller Index Records Another Drop in Home Prices

Data released Tuesday morning by Standard & Poor’s show that home prices are continuing to trend downwards. The 10-city and 20-city composites of the S&P/Case-Shiller home price index fell 0.9 percent and 1.0 percent, respectively, in January 2011 when compared to the previous month. The 10-city composite is down 2.0 percent from its January 2010 …

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FDIC To Consider Rules Defining ‘Safe’ Mortgages

What Is a ‘Safe’ Mortgage? Later this month, the Federal Deposit Insurance Corp. will consider new rules that define what a safe or “qualified” residential mortgage is as part of the Dodd-Frank financial overhaul law. Experts say the classification will likely have broad sweeping effects on the mortgage market. The Dodd-Frank financial overhaul law, which …

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New Lending Guidelines Effective June 1, 2011 (or sooner)

Fannie Mae has implemented a new policy that is very important. Since most lenders use FNMA’s guidelines this is an important change to be aware of. As of June 1, lenders are responsible for certifying the borrower’s monthly obligations have not increased from the time of the initial credit report through the closing date. This …

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Suze Orman Vs. Warren Buffett: Whose Real Estate Advice Should You Follow?

You know Suze Orman – she delivers hardcore financial gut checks to everyday Americans on a regular basis. In her latest book, The Money Class, she also recently delivered a pretty striking declaration: that the American Dream – which, for many, includes home ownership and upward economic mobility – is as dead as a doornail. …

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New Bank Owned REO: $148,727 Below Assessed Value

Coming on the market within the next couple of days this 4 bedroom, 3 bath home I predict this home will sell within days of hitting the Sun Valley Multiple Listing Service. Over 2800 square feet located on picturesque corner lot in quality Hailey neighborhood this home is another bank owned property that’s priced for …

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Listing Expired – House still unsold? Part 2: What it takes to sell in todays market

Pricing is a critical element in offering a home for sale, and unfortunately it’s often done wrong. Sometimes that’s the agent’s fault, and sometimes it’s the homeowner’s. We’ll start with the agent. The sad truth is that some agents try to “buy listings” by promising homeowners unrealistic prices. They say they can get a higher …

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The Rules: Initiative Gives Homebuyers 15 Days to Buy Without Investor Competition

Fannie Mae, Freddie Mac and HUD all have programs designed to give individuals looking to buy a home as an owner-occupant a chance to purchase prior to allowing real estate investors to buy these REO properties. All programs are similar with links at the bottom of this page too the specifics of the various programs. …

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Mortgage Purchase Activity at Highest of Year

Mortgage applications for purchases rose to their highest level of the year last week, the Mortgage Bankers Association reports. Purchase applications for mortgages increased 12.5 percent from one week earlier, and on an unadjusted basis, purchase application activity is the highest since last May.“ An improving job market is beginning to pave the way for …

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Listing Expired – House still unsold? Part 1: What it takes to sell in todays market

Selling a home in today’s market is far different from selling a home just a few years ago. When things were booming and buyers were snapping up homes at ever-increasing prices, agents didn’t have to work very hard to bring you a buyer, and sellers didn’t have to work very hard to prepare their property …

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Search Bank Owned REOs in the greater Sun Valley area

Search Bank Owned Properties also known as REOs. Listings are updated in “Real Time” as this interactive search is directly linked to the Sun Valley Board of Realtors® listing database. Property Searches included Blaine County, Camas County, Custer County & Beyond Cities include Ketchum, Sun Valley, Elkhorn, Hailey, Bellevue, Carey, Fairfield, Stanley and more. Detailed …

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Interactive Inventory Trends – Hailey Idaho

This interactive graph shows the total number of “Single Family” active listings, new listings, pending listings and sold listing for the past year that have a Hailey Idaho address. See the legend below for color designations. Roll your mouse over the graph to see inventory numbers  

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Mortgage Practices Overhaul Proposed

State and federal officials are pushing to more tightly regulate the way banks and other mortgage servicers treat struggling homeowners in a bid to stem foreclosures. Current government modification programs are largely voluntary, and there are few rules governing servicers’ practices. But on Thursday, the nation’s largest banks, including Wells Fargo & Co., Bank of …

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4 Red Flags That Send Buyers Running

Daily Real Estate News | March 4, 2011 How you present a listing online and the words you choose to describe it may be turning off some buyers. Bankrate.com recently asked real estate professionals to weigh in on what listing red flags are turning off their buyers. No photos. “One red flag in many buyers’ …

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Ten Mistakes You Can’t Afford To Make

Save time and money by following these rules Buying a home is complex enough but when it comes to financing, you need to make sure you are as prepared as possible in order to get a loan. There are a number of mistakes you can make along the way of getting your loan approved. Here …

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7 Tips for Short Sale Success – Information Plus Short Video

Have to sell your home for less than it’s worth? Our seven tips will help you get the best price. There are five important steps to consider if you are faced with a short sale. When you owe more on your home than it’s worth, but you have to sell, you need to squeeze every …

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