RISMEDIA, July 5, 2010—As some parts of the U.S. housing market work their way out of the housing recession, while the majority of markets continue to decline, homeowners across the country had mixed opinions of the state of their own homes’ values, according to the Zillow Q1 Homeowner Confidence Survey. Nationally, homeowners were overconfident, with half (50%) believing their own home’s value declined in the past year. In reality, 65% of U.S. homes declined in value, according to Zillow’s Q1...continue reading...

Great news going into the weekend.  We have seen a nice drop in rates over the last week, about 0.50% across the board.  This drop equates to an increase in buying power and an increase in buying options. Increased buying power, four examples with a 30 year fixed: A payment of $1,565 at 5.25% equated to a loan amount of $283,400.  Same payment but at 4.75% equates to a loan amount of $300,000.  Loan amount increase of $16,600. A payment of $2,175 at 5.25% equated to...continue reading...

How would I initiate the short sale process? A. To initiate the short sale process, contact your lender(s). Typically, the department to contact is your lender's Loss Mitigation Department. Either you or your authorized representative needs to ask the lender for a short sale package or kit. Most lenders will make their particular processing forms and procedures pertaining to their required short sale documentation available to homeowners.  Unlike what many people believe, some lenders...continue reading...

On November 6, President Obama signed the Worker, Homeownership, and Business Assistance Act of 2009 into law, extending and expanding the important home buyer tax credit, and thereby providing many Americans with just the break they need to buy a first home or move up to a new home. One of the requirements for becoming a Member of the Top 5 in Real Estate Network® is to provide my community with critical real estate information...continue reading...