EXIT Realty SCV - DRE# 01844564's Blog
If you feel like shifting economic winds have not been in your favor lately, you are in good company. More than 6 million homeowners nationwide are in some stage of foreclosure.
If this is the case with you or someone you care about, you are all too aware of the stress and uncertainty that accompanies notices of default, unwanted phone calls and offers of help that turn out to be no help at all.
The fact is, the last thing your bank wants is to foreclose on your home. Banks are willing to negotiate, and you need someone on your side who is adept at negotiating with banks.
As a real estate professional who has earned the Certified Distressed Property Expert (CDPE) designation, I am tapped into the best solutions for helping financially distressed homeowners to make a fresh start. If you'd like to learn more, I invite you to access my free report: "Change the Course! And Navigate Away from an Unmanageable Mortgage."
Contact me today and let's get started!
For more information and a free report go to www.PatrickHelpsHomeownes.com
According to the Thomson Reuters/University of Michigan consumer sentiment index, Americans’ confidence in the economy rose again in January. The overall reading for the month rose to 75.0 from 69.9 in December. It was the highest reading since February 2011 and a better-than-expected improvement. Richard Curtin, the survey’s director, said the recent gains in confidence are dependent on continued gains in employment and, as long as the job market continues to improve, real consumer spending should post a 2.1 percent gain in 2012. The component of the index measuring current economic conditions rose nearly five points and the gauge of consumer expectations was at its highest level since May 2011. More here and here.
Using employment data from the Bureau of Labor Statistics, home-price appreciation info from Freddie Mac, and Census Bureau estimates on single-family permit growth, the National Association of Home Builders’ Improving Markets Index generates a list of housing markets across the country that are showing signs of economic improvement. In December, the list of improving markets expanded for the fourth consecutive month. The list rose from 30 to 41 and included 20 new additions. Bob Nielsen, NAHB’s chairman, said the increasing number of improving markets, and their geographic diversity, is quite encouraging and evidence that all housing markets are dependent on local factors. In order to be included on the list, a metro area must see improvement in each of the three measures for at least six months. More here.
It’s time to take another look at short sales
As recently as a few months ago, if you would have told a real estate agent who specialized in short sales that they’d be raving about a lender’s stellar service and rapid approval times—not to mention significant cash incentives for financially strapped homeowners for pursuing a short sale—you’d have gotten some strange looks.
That’s all changed. And it’s changed faster and to a greater extent than most real estate professionals ever could have imagined.
With a glut of bank-owned properties dragging down the recovery of the real estate market, as well as the national economy, major lenders are more eager than ever before to avoid foreclosure. So they’ve sharpened their focus on short sales. Big time.
The biggest lenders in the country have staffed up to ensure rapid processing of short sale applications. They’ve ponied up with cash incentives at closing for homeowners who pursue a short sale. And they’re proactively reaching out to CDPE agents and putting them in touch with delinquent borrowers.
This is big news and the media has not really caught onto it yet. What’s important for you to know is that whatever you’ve read or heard in the past about long lag times and frustrations with short sales is probably no longer the case.
As a member of the CDPE Advanced community, I&r
Resolve to Face the Facts!
Since 2007, 8.9 million homes have been lost to foreclosure and millions more are headed in that direction.
As a real estate professional who has earned the Certified Distressed Property Expert (CDPE) designation, my mission is to ensure that you or anyone you care about does not add to that statistic.
The unfortunate fact is that so many homeowners who have played by the rules and never imagined that they could be facing foreclosure are now in a very tough situation.
More than one in four homeowners owes more on their mortgage than their home is worth. On top of that staggering statistic is the fact that millions of homeowners are unemployed, or underemployed and falling further behind every month.
Sound familiar? Rest assured you are not alone.
If you feel that you are headed toward foreclosure, or if you are avoiding facing that fact, the sooner you reach out for help, the better your options.
As a CDPE agent, I help distressed homeowners to work through every aspect of the denial and discouragement that accompanies a mortgage which is no longer manageable, and in the process, to move toward financial solvency.
If you or someone you care about is ready to tip the scales back toward financial solvency,
Often cited as a key factor in the housing market’s recovery, the national unemployment rate continued to trend downward in December. According to the U.S. Department of Labor, the unemployment rate fell to 8.5 percent as the economy added 200,000 jobs. The drop exceeded economists’ expectations and brought the percentage of jobless Americans to its lowest level in nearly three years. During 2011, 1.6 million nonfarm payroll jobs were added, while government employment dropped by 280,000 jobs. The national unemployment rate averaged 8.9 percent last year, falling from an average of 9.6 percent in 2010. More here and here.
According to a study from the Mortgage Bankers Association titled The Great Recession and Attitudes Toward Homebuying, nearly 80 percent of American households believe now is a good time to purchase a home. The research examined consumer attitudes toward homeownership before, during, and after the most recent recession using 30 years of data from the University of Michigan’s Survey of Consumer Attitudes. The findings show despite slow economic growth and high unemployment, Americans overwhelmingly say conditions are good for buyers. The positive perception was particularly strong among young, educated, white and Hispanic Americans. Michael Fratantoni, MBA’s vice president of research and economics, said the study shows young households still value homeownership and that homebuyer sentiment has returned to its long-term average. More here.
The National Association of Home Builders/Wells Fargo Housing Market Index measures builder confidence in the market for newly built, single-family homes. In December, the index improved for the third straight month and reached its highest point since May 2010. David Crowe, NAHB’s chief economist, said it was the first time that builder confidence has improved for three consecutive months since mid-2009, signifying a legitimate, though slowly emerging, upward trend. Each of the three component indexes registered gains in December, with the component gauging traffic of prospective buyers up three points to its highest level since 2008. Builder confidence was strongest in the south, where it rose four points. More here.
Forget stocks. Don't bet on gold. After four years of plunging home prices, the most attractive asset class in America is housing.
A home under construction in Austin. The number of new homes in the pipeline nationwide is quite low.
From his wide-rimmed cowboy hat to his roper boots, Mike Castleman fits moviedom's image of the lanky Texas rancher. On a recent March evening, Castleman is feeding cattle biscuits to his two pet longhorn steers, Big Buddy and Little Buddy, on his 460-acre Bar Ten Creek Ranch in Dripping Springs, a hamlet outside Austin in the Texas Hill Country. The spread is a medley of meandering streams, craggy cliffs, and centuries-old oaks. But even in this pastoral setting, his mind keeps returning to a subject he knows as well as any expert around: the housing market. "I'm a dirt-road economist who sees what's happening on the ground, and in 35 years I've never seen a shortage of new construction like the one I'm seeing today," declares Castleman, 70, now offering a biscuit to his miniature donkey Thumper. "The talking heads who are down on real estate will hate to hear this, but America needs to build a lot more houses. And in most markets the price of new homes is fixin' to rise, not fall."
Castleman is in a unique position to know. As the founder and CEO of a company called Metrostudy, he'
Consumer Reports National Research Center conducted a nationwide survey from July 1 to 10, 2011 of 1,258 adults 18 years and above regarding credit cards. Over one third of responders had at least one problem with their credit card company in a year and saw slight improvements in how they were treated by credit companies this year compared to last.
Credit cards are one of the lowest-rated services that Consumer Reports has analyzed with only 51 percent of responders highly satisfied with their credit cards in 2011 compared to 45 percent in 2010. Thirty five percent of responders had at least one credit card problem in the last year, such as new annual fees, higher interest rates, lower credit limits, or limits on rewards. The number of responders that experienced unwelcome news about lower credit limits decreased from 37 percent in 2011 from 47 percent in 2010. Taking this into account, it is surprising that only 12 percent of responders said their credit card companies had treated them unfairly in 2011. The proportion decreased from15 percent in 2010 and from 22 percent in 2009.
Credit card companies are sending out more pre-approved credit offers than in previous years and more are being approved. Only 14 percent of the responders were denied a card in 2011, compared with 24 percent in 2010.
Credit card companies hav
Buying a home is an exciting time in one's life. Making the smart move of choosing a REALTOR® is your first step to ensuring that your new home and community meets your needs. Our services and experience range from financial aid to helping you find the home that best suits you and your family. For your convenience, we also provide listings by email. We pride ourselves on repeat business and hope you'll come to understand why.
As Your Agent, We Will:
Assure that you see all the properties in the area that meet your criteria. Guide you through the entire home buying process, from finding homes to look at, to getting the best financing. Make sure you don't pay too much for your new home and help you avoid costly mistakes. Answer all of your questions about the local market area, including schools, neighborhoods, the local economy, and more.Before You Start Looking For Your New Home:
Check your credit rating. Straighten out any errors before its too late. Determine a comfortable monthly budget for your new purchase, including down payment and monthly payment. Find a loan program that meets your needs and get pre-qualified (preferably pre-approved). Choose a REALTOR® that you trust and who understands your needs. Determine what neighborhood best matches your needs. Identify important features you need your
