When discussing the nationwide mortgage troubles, most people will tell you that the problem lies with subprime mortgage lenders, coupled with the many homeowners who do not bother to understand the terms of their agreement before signing for a loan. But on Monday, 19 people were reported to have been charged with targeting homeowners […]
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According to a recent report on CBS news, 20 million households are about to be upside down on their mortgage. An upside down mortgage is when the home owner owes more on the house than it’s worth. The result of an upside down mortgage is usually that the homeowner takes a loss on […]
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With all the homes that are going into foreclosure these days, there are tons of bank-owned properties, called REOs, for sale. As a buyer, there are good reasons to purchase these properties — the main one being that the banks will sell them cheap. Let’s see why.
Banks are not in the real estate business, so […]
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In today’s somewhat slow housing market, sellers are wondering whether they will have to sit on their property forever before it sells. The answer is, you don’t have to. A property will sell if it is priced at an attractive value to a buyer – and it will most likely sell quickly if you offer […]
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I had an interesting email from the National Association of Realtors the other day. It reminded me that “all real estate is local.” This is a point that all homeowners need to keep in mind. With the current market in turbulence, nobody is really sure what to do.
The fact is that every market is unique, […]
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I normally stay away from trying to predict the future. However, I have received a number of inquiries from clients on my thoughts as to what 2008 holds in store for the housing and mortgage markets. I thought I would give the old college try and we will check back in 2009 and see how […]
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Despite all the recent publicity about the mortgage market and its effect on the housing market, one tends to forget about the segment that is most affected by the crunch: home builders. The National Association of Home Builders is predicting that they will experience another “rough patch” through 2008.
The NAHB/Wells Fargo Housing Market index is […]
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Earlier I wrote about selling a house in a down market and the first important factor, price. You can find Part 1 here if you missed it. Today I would like to discuss the second most important factor: the condition of the home.
Experts say that if you want to sell your home when the market […]
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If you are thinking of selling your home, you may be concerned about the status of the current housing market. Although the market presents a challenge, there are still buyers out there who want to buy a home or who must buy a home (due to relocation). So it is not a matter of whether […]
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Drilling down in the crisis in the mortgage market gives you a very good idea of how bad things really are. It is not just about big companies going belly up or hedge funds suffering. It is about the little guy that has to take his lumps like every one else.
Across the nation, many renters […]
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