From the category archives:

Mortgages

How Will Fannie Mae’s First Look Initiative Affect REO Properties

December 15, 2009
Thumbnail image for How Will Fannie Mae’s First Look Initiative Affect REO Properties

A few months ago, Fannie Mae announced introduced the First Look Initiative. For new home buyers who are looking to get the best deals on properties before investors get to them, this is good news.

Why?

Because the main goal of this new initiative is to encourage neighborhood stabilization by giving owner occupants a chance to inspect new listings before investors have a chance to submit purchase offers. Owner occupants are home buyers who plan on living in the home and keeping it as their primary residence.

Read the full article →

Will Mortgage Delinquency Rates In California Continue to Rise?

December 4, 2009
Thumbnail image for Will Mortgage Delinquency Rates In California Continue to Rise?

According to reports by TransUnion, mortgage delinquency rates increased for the 11th straight quarter. That means mortgage delinquency rates have increased steadily since 2006. The quarter rates reached an all-time high of 6.25%. It’s a 7.57% increase from the previous quarter’s average of 5.81%. This pertains only to mortgages that are 60 days or more past due.

Though delinquency rates are still increasing, they are slowly decelerating. This deceleration indicates that though rates are still climbing, they are doing so at a lower percentage compared to the previous quarter. If you compare the delinquency rate in the last quarter of 2008 to the first quarter of 2009,

Read the full article →

Mortgage Disclosure Improvement Act: How Does it Help Home Buyers?

September 14, 2009
Thumbnail image for Mortgage Disclosure Improvement Act: How Does it Help Home Buyers?

What is the Mortgage Disclosure Improvement Act? Basically, the federal government has put forth a legislation that replaces the 3-day waiting period for initial disclosure with a 7-day waiting period that does not include Sundays or holidays. Also, before the borrower can close on a transaction, they must receive the initial Good Faith Estimate (GFE), and the initial Truth in Lending (TIL) statements quoting the final Annual Percentage Rate (APR) seven days prior to closing.

Read the full article →

Compton Bank-Owned Fixer-Upper for Bargain Price

May 1, 2009

BARGAIN-PRICED.
BANK-OWNED BENEFITS.
PRIME FIXER-UPPER.
PRICE: $69,900
ADDRESS: 407 S. Acacia Ave., Compton, CA 90220
TYPE OF HOME: Single family, 2 bed, 1 bath
HOME SIZE: 944 sq. ft.
LOT SIZE: 5,200 sq. ft.
YEAR BUILT: 1915
HIGHLIGHTS:
* Large, natural light bathed windows
* Ceiling fans
* Spacious yard (surrounded by white picket fence)
* Tiled shower and soaking tub
* Custom built-in bookshelves, storage and cupboards
* Tiled [...]

Read the full article →
Thumbnail image for One West Ocean: Long Beach’s Hottest Condo Tower

One West Ocean: Long Beach’s Hottest Condo Tower

April 28, 2009

PRIME HIGH-RISE CONDOS.
METICULOUS DETAILS.
PRICELESS AUTHENTICITY.

One West Ocean, Long Beach’s tallest and fastest-selling residential tower, offers four exceptional, private luxury condos per floor. The commanding, 59-story ocean and city view condominium tower is perfectly positioned in the heart of downtown Long Beach. This full-time doorman designer skyscraper features beautifully tailored, expansive interiors that create the perfect [...]

Read the full article →

Mark’s Insider Notes From the Spring 2009 Reomac Conference

April 8, 2009

I had the pleasure of joining 3,000 fellow real estate agents earlier this week as we converged in Palm Desert, Calif. for the spectacular Spring 2009 Reomac Conference. There I gained the latest insider news on successful short sales, foreclosure inventory, loss mitigation and a host of other hot real estate topics that will strengthen [...]

Read the full article →

Historic Bank-Owned Home for Sale in L.A.’s Wilshire Area

March 23, 2009

Call Today to Schedule a Personal Tour
Or—NEW!—Make an offer online NOW!

Address: 1424 S. New Hampshire Ave. Los Angeles, CA 90006-4510
Home Type: Historic single-family, single-story, BANK-OWNED

Price: $369,900
Square Feet: 1,281 sq. ft.
Lot Size: sq. 4,150 sq. ft.
Rooms: 3 bedrooms, 2 baths
Year Built: 1907
Extras:
Newer windows and roof
Central heating/cooling air
Recently renovated kitchen and bathroom
Recently refurbished hardwood floors and fixtures
Secure [...]

Read the full article →

Top Reasons to Sell Your Home Via Short Sale

March 13, 2009

Perhaps you’re “upside down” on your house and can no longer afford your mortgage payments. Maybe you owe more than the property is worth and simply can’t refinance. Or, it may be that you still can’t handle your house payments even after modifying your loan or reducing your interest rate. Times are tight and you’re [...]

Read the full article →

Short Sales 101: What’s All the Buzz About?

March 12, 2009

So you’re seeing the words “SHORT SALE” splashed all over real estate signs across town, on the news and in the headlines. Short sales are everywhere, but exactly WHAT ARE THEY and WHO BENEFITS from them? Let’s take a quick, painless, non-confusing look. You’ll be clued-in in no time, and if you have any questions, [...]

Read the full article →

Top 5 Benefits of Buying a Bank-Owned Home

March 5, 2009

1. More home for your buck. How? By taking advantage of potentially lower interest rates and dramatically lower prices, two ways in which banks entice buyers to take a losing asset of their hands—fast! Bank-owned (REOs) and foreclosed upon properties average discounts between 20% and 25% off their overall retail value. Buying the property “as [...]

Read the full article →