Month: July 2010

Qualify for a Home Loan Through Credit Rescoring

If your credit score on the FICO scale is 599 or below, your application for a home loan won’t be accepted by most lenders, as even those with scores between 599 and 700 are having a hard time getting their applications considered by major lenders. But take heart because you’re not alone. Over the past two years, the credit scores…

Read More »

Is Your Bank One of the 905 Mortgage Lenders Suspended by HUD?

Are you planning to apply for a home loan? Check if your bank is one of the more than one thousand banks that received notices of suspension, reprimand, probation, fines and other administrative sanctions from the Department of Housing Urban and Development’s Federal Housing Administration from July 2008 to March 2010. While there were 147 mortgage lenders that were able…

Read More »

Realtors Helping Investors Profit from Foreclosed Homes in Florida

Recently in Florida, all these things happened: A horse dealer bought a foreclosed house in Marion County for $82,000 and then resold it several months later for $200,000. A real estate lawyer got on track to achieve his goal of finding 100 units of bargain-priced distressed and foreclosed homes for his rental and resale business. A seller of prefabricated homes…

Read More »

Good News: Mortgage Default Rate Plunged, HAMP Grade Surged

In the midst of discouraging news about housing starts and home builder confidence, there are at least two good news stories about the U.S. housing sector this week. First, the default rate for residential mortgages fell, and second, the number of permanent loan modifications under the Home Affordable Modification Program increased. Based on the consumer credit default index of Standard…

Read More »

Prices for Homes for Sale Held Steady in 2Q

Home buyers still have the upper hand as listing prices for homes for sale held steady and did not shoot up in the second quarter, based on a study by Altos Research on house prices in ten major U.S. cities, namely Miami, Los Angeles, San Francisco, San Diego, Las Vegas, Chicago, Boston, Denver, Washington, D.C. and New York. In June,…

Read More »

Commercial Real Estate in Some Areas in Florida Bucked National Trend

Commercial real estate in some Florida cities like Miami, Sarasota and Pensacola beat the odds in the first months this year and bucked the nationwide trend of decline in the commercial property sector. If you are looking for office space visit Austin Office Space For Lease or Rent | Austin Tenant Advisors. Commercial rents and occupancy rates increased in these…

Read More »

Real Estate Firms Rev Up Home Buying with Incentives

Home buyers continue to be enticed by real estate firms and home builders with various attractive incentives. One real estate brokerage with branches nationwide launched a cash-back program to replace the federal tax credit program that ended on April 30. In states where it has subsidiary brokerages, it offers up to $8,000 in cash credit at closing. In California, it…

Read More »

Home Sales to International Investors Continue to Surge

U.S. homes continue to be popular to foreign investors, as shown in the increased percentage of home sales to foreign buyers in the 12-month-period ended March 2010.Over the 12-month period, sales of residential properties to investors who are citizens of countries other than the U.S. accounted for 4.6 percent of the $907 billion worth of housing units sold in the…

Read More »

Buyers of Bank Owned Homes in Florida Got 38 Percent Discount

People who bought bank owned homes in Florida in the first quarter this year got an average price discount of 38 percent, according to a RealtyTrac report. Those who bought short sale homes got an average price discount of 21 percent. For all bank owned and short sale homes sold, the average sales price was $121,394, lower by 28.4 percent…

Read More »

Four Types of Insurance You Should Have at Closing

 You need four types of insurance when buying a home, and you need to have them at closing. Title Insurance This policy protects you and your mortgage lender in case the title to your home turns out to be invalid or defective. Defects can mean liens that were not initially recorded or claims made on the property after closing. Other…

Read More »

27 Percent Discount for Distressed and Foreclosed Homes

The nearly 233,000 distressed and foreclosed homes sold throughout the country in the first three months this year were sold at an average discount of 26.7 percent, based on a report from RealtyTrac. This means that hundreds of thousands of Americans were able to buy their homes at almost 27 percent below the average price of non-foreclosed homes. Although the…

Read More »

Builders Cutting Home Prices to Step up Sales

Across the country, home builders are again cutting home prices to step up sales and reduce their inventory. After the federal tax credits ended on April 30, the pace of sales slowed, so builders started offering substantial enticements again to replace the lost tax credits. Although the price cuts hurt, they work well in bringing more buyers to open houses…

Read More »

Great News about Florida Surmounts Oil Spill Issues

Much of the noise about Florida now in the mass media is about the Gulf Coast oil spill and its effects on everything from fishers and homeowners to top BP executives invading beachfront hotels. Even so, there are a lot of recent and current developments showing the continued confidence of people and companies in the ability of Florida to rise…

Read More »