Showing posts with label short sale. Show all posts
Showing posts with label short sale. Show all posts
Nov 2, 2012
Presidential Election and Real Estate
Are you curious about what will happen to our housing market once the presidential election is over? Will there remain assistance for homeowners who are under-water? Will the market be flooded by the influx of bank inventory? These are the questions that every American seems to be asking. An article from the Washington Post may shed some light but, I'm fearing that we won't have real answers until the election is over - and maybe not even then. Is it time to sell your home, walk away or short sell? We can assist you with your options - and will be there when your decision is made The Stephanie Woods Team is stable in our dedication to our clients. You have options, we can help - contact us today!
Oct 19, 2012
Humble Abodes
Are you looking for a new humble abode? Click on the link below to preview the new Prescott Valley Home listings for the month of October. Then call the Stephanie Woods Team to schedule your showing - Teamwork makes your dream work! Call us today at (928) 237-4435.
Oct 5, 2012
Buyer or Seller Market?
That is a tough call. The residential home inventory hasn’t been this low in years. With inventories this low, buyers are competing for the best properties while still trying to get more for their dollar. Have you considered listing your home? In this current market, your property has the potential to sell for more than you think. Home prices are rising. Investors, first time home buyers and those who are up sizing AND downsizing are looking and not finding what they are wanting – it could be your home. Contact The Stephanie Woods Team at Keller Williams Check Realty. We’re here to assist you and provide you with our knowledge and experience.
Associate Broker
Keller Williams Check Realty
3033 Windsong Dr. #202
Prescott Valley, AZ 86314
(928) 237-4449 Sep 21, 2012
Homes Selling Quicker
Homes Selling Quicker
According to findings by the NATIONAL ASSOCIATION OF REALTORS®, the time it takes to sell a home is shrinking.
The median time a home was listed for sale in July this year was just 69 days. That’s down nearly 30 percent compared to 1 year ago. In fact, nearly one third of homes bought in July were on the market for under a month.
NAR Chief Economist Lawrence Yun sees a clear connection between the tight inventory conditions and time on the market, saying that the shortening of time on market began this spring, which has led to more of a balance between buyers and sellers across the country. This equilibrium is supporting sustained price growth and homes that are correctly priced are tending to sell quicker. Prices are projected to rise through the rest of this year and into next.
Courtesy of http://retradio.com/?p=6326
According to findings by the NATIONAL ASSOCIATION OF REALTORS®, the time it takes to sell a home is shrinking.
The median time a home was listed for sale in July this year was just 69 days. That’s down nearly 30 percent compared to 1 year ago. In fact, nearly one third of homes bought in July were on the market for under a month.
NAR Chief Economist Lawrence Yun sees a clear connection between the tight inventory conditions and time on the market, saying that the shortening of time on market began this spring, which has led to more of a balance between buyers and sellers across the country. This equilibrium is supporting sustained price growth and homes that are correctly priced are tending to sell quicker. Prices are projected to rise through the rest of this year and into next.
Courtesy of http://retradio.com/?p=6326
Aug 31, 2012
It's a Sellers Market - Our inventory hasen't been this low in YEARS!
A funny thing happens in real estate. When it comes back, it comes back up like gangbusters.
~Barbara Corcoran
The
real estate market has turned around in some parts of the U.S., but
many buyers aren't seeing true bargains anymore. Investors are driving
up prices, and inventory is low, especially for homes priced under
$250,000. That's not great news for anyone hoping to buy an affordable
house to live in.
Arizona is home to one of the nation's
extraordinary turnarounds. The Phoenix-area median home price rose 20
percent over the past year — 6 percent in March alone. And Tucson was
recently named the nation's best market for investors. But the easy
money has already been made.
Tucson firefighter Keith Cubberley
buys distressed property in his spare time. The brick house he bought
recently in an older middle-class neighborhood was trashed. "It was
dirty and people hadn't done anything to take care of the property for
the last 40 years," he says.
So Cubberley gutted it, and now he
has workers fixing it up. When he's done, he'll resell the house. But
buying low-end real estate like this, he says, is getting harder.
When
an investor is buying, they will very often offer cash and waive the
appraisal contingency, and that is very attractive to a seller because
they know the deal is almost certain to go through.
"Anything $100,000 and under ... [is] selling very quickly," he says.
Inventory Down, Prices Up
Tucson
real estate agent Steve Marshall, who specializes in finding homes for
investors, says a lot of homes that would have sat on the market a
couple of years ago are now getting multiple offers.
"They're
starting to list their properties higher than what they used to,"
Marshall says. "Property that would've listed for $20- to $30,000 is now
listing for $50- to $60,000."
About a quarter of all home sales
in Phoenix and Tucson are to investors — people looking to fix and flip
or fix and rent, or people looking for a second home.
Mike Orr, a
real-estate researcher at Arizona State University, says a lot of people
are still looking for bargains, but the deals are harder to find. He
says prices are up because inventory is down — there are fewer homes on
the market. There are also fewer foreclosures — about 60 percent fewer
than last year in the Phoenix area.
"Although we still have a flow
of foreclosures taking place, it's dramatically down from the worst
situation, which was kind of 2008 through 2010," Orr says.
Homes
worth more than $250,000 are moving up in value, too, but more slowly.
Rising prices are good news for Arizona homeowners who saw their
property plummet in value since 2008, but Orr says the investor frenzy
on the market's low end is bad news for people who just want to buy an
affordable home and live in it.
Aug 28, 2012
Always remember that the future comes one day at a time.
As part of the Servicing Alignment Initiative, on August 21, the FHFA issued a press release entitled FHFA Announces New Standard Short Sale Guidelines for Fannie Mae and Freddie Mac.
To view the Freddie Mac Bulletin, please click here.
To view the Freddie Mac Bulletin, please click here.
To view the Fannie Mae Announcement SVC 2012-19, please click here.
Aug 23, 2012
GSEs to Allow Short Sales for Borrowers Who Are Current on Mortgage
GSEs to Allow Short Sales for Borrowers Who Are Current on Mortgage
The streamlined program rules will enable lenders and servicers to quickly and easily qualify borrowers, who do not have to be delinquent on their mortgages, to qualify for short sales. As a further step to facilitate speedy sales, both of the GSEs have authorized a payment of up to $6,000 to incentivize second lien holders to allow the short sales to proceed.
Additional changes will make it easier for servicers to process short sales for members of the military who must relocate due to Permanent Change of Station orders. In these cases servicers can streamline the process including the elimination of back-end debt-to-income ratios and removes the obligation for borrowers to contribute funds to cover the shortfall between the sales price and their outstanding mortgage balance.
FHFA said that the new guidelines will move short sales forward expeditiously for borrowers who have missed several mortgage payments, have low credit scores and serious financial hardships because the documentation required to demonstrate need has been reduced or eliminated.
Servicers will also be able to process short sales for borrowers who are current on their mortgages but are facing sudden hardships such as death, divorce, disability, or relocation of more than 50 miles for reasons of employment. Servicers will be allowed to approve short sales in such circumstances without additional approval from Freddie Mac or Fannie Mae.
The two GSEs will waive the right to pursue a deficiency judgment in exchange for the borrower making a financial contribution to the remaining principal balance or signing a promissory note to that effect if that borrower has the capacity to do so.
The changes will consolidate the existing short sales programs of the GSEs into a single uniform program and provide both servicers and borrowers clarity on processing requirements when a foreclosure sale is pending.
Aug 10, 2012
Are you starting to look for a new home?
Don't do it by yourself. Let us help you!
There are deals out there that you could miss out on.
There are deals out there that you could miss out on.
Check on these NEW/RESALE homes in Prescott Valley.
Click here for more listings!
We can help you find your dream home. NOW is the perfect time to buy. Please contact the Stephanie Woods Team at Keller Williams by phone (928) 237-4449 or check out our website: www.PrescottAZHomeFinder.com
Aug 6, 2012
BEST DEALS OF THE WEEK!! Yavapai County HUD Homes, FORECLOSURES, and SHORT SALES
HUD Homes, FORECLOSURES, and SHORT SALES 07/31/12 -08/06/12
Click on the links below to view the BEST PRICED properties!
Prescott, Prescott Valley & Chino Valley - Bank Owned Properties
Prescott, Prescott Valley & Chino Valley - Short Sale Properties
Single Family Residence
Townshouse / Condo
Prescott, Prescott Valley & Chino Valley - HUD Properties
Prescott, Prescott Valley & Chino Valley - Homes
Call us if you would like to view any of these amazing deals!!
Stephanie Woods, Realtor
The Stephanie Woods Team
Keller Williams Check Realty
(928) 237-4449 (928) 237-4449
Stephwd@msn.com
Our team has Certified Short Sale agents available if you or someone you know could use assistance. Feel free to call us.
Stephanie Woods
928-308-8565 <> 928-308-8565
Stephanie Woods, Realtor
The Stephanie Woods Team
Keller Williams Check Realty
(928) 237-4449 (928) 237-4449 Stephwd@msn.com
Our team has Certified Short Sale agents available if you or someone you know could use assistance. Feel free to call us.
Stephanie Woods
928-308-8565 <> 928-308-8565Jul 27, 2012
BEST DEALS OF THE WEEK!! Yavapai County HUD Homes, FORECLOSURES, and SHORT SALES
HUD Homes, FORECLOSURES, and SHORT SALES 07/20/12 -07/27/12
Click on the links below to view the BEST PRICED properties!
Prescott, Prescott Valley & Chino Valley - Bank Owned Properties
Prescott, Prescott Valley & Chino Valley - Short Sale Properties
Prescott, Prescott Valley & Chino Valley - HUD Properties
Prescott, Prescott Valley & Chino Valley - Homes
Single Family Homes
Townhouses/Condos/Patio Homes
Call us if you would like to view any of these amazing deals!!
Stephanie Woods, Realtor
The Stephanie Woods Team
Keller Williams Check Realty
(928) 237-4449 (928) 237-4449
Stephwd@msn.com
Our team has Certified Short Sale agents available if you or someone you know could use assistance. Feel free to call us.
Stephanie Woods
928-308-8565 <> 928-308-8565
Stephanie Woods, Realtor
The Stephanie Woods Team
Keller Williams Check Realty
(928) 237-4449 (928) 237-4449 Stephwd@msn.com
Our team has Certified Short Sale agents available if you or someone you know could use assistance. Feel free to call us.
Stephanie Woods
928-308-8565 <> 928-308-8565
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