Monthly Archives: June 2012

HouseLogic Offers Resources for Flood Preparedness

As Florida residents clean up in the aftermath of Tropical Storm Debby, many more Americans can anticipate flooding and damage during this year’s hurricane season. HouseLogic.com, the award-winning comprehensive Web site for home owners from the National Association of REALTORS®, offers valuable resources and information to help residents clean up after floods.

“The damage from natural disasters like floods and hurricanes not only affects individual families but also entire communities,” said NAR President Moe Veissi, broker-owner of Veissi & Associates Inc., in Miami. “As my fellow Floridians recover from the flooding that accompanied this latest storm, HouseLogic hopes to help homeowners across the country prepare and protect their homes and families throughout this hurricane season.”

Much of the country’s hurricane-related flooding typically occurs along the Atlantic and Gulf coasts. According to the NAR’s most recent data on existing-home sales, more than half of recent home purchases were in the Northeast and the South. Vacation home buyers are also attracted to those areas. According to NAR’s 2012 Investment and Vacation Home Survey, 42 percent of vacation homes purchased last year were in the South and 15 percent were in the Northeast. But flooding doesn’t just follow hurricanes, and it occurs in every part of the country due to events such as storms and rising rivers.

HouseLogic visitors can use the Flood Cleanup Guide for helpful articles like “What to Do in the First 24 Hours After a Flood,” “Flood Cleanup Kits Prepare You for High Tides,” and “Water Damage: 8 Ways to Dry Out and Move On.” The site also provides advice on how to determine what items might be salvageable.

For more information on home flood preparedness and tips on how to make smart decisions and take responsible actions to maintain, protect and enhance the value of your home, visit www.houselogic.com.

 

The author of this article is: realtormag.realtor.org/daily-news

 See the original post at: http://realtormag.realtor.org/daily-news/2012/06/29/houselogic-offers-resources-for-flood-preparedness

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Posted on June 29, 2012 in Home Crisis

‘Dead’ Listings Get a New Life

The big drop in inventories of homes for-sale is helping once-expired listings finally get sold. Sellers are finding relisting their properties may offer them more luck now than a few months ago, real estate professionals report.

Nationwide inventories of single-family homes, condos, townhouses, and co-ops has fallen about 20 percent in the last year, according to Realtor.com. Inventories are at some of their lowest levels ever observed. Meanwhile, more buyers are coming off the sidelines, wanting to take advantage of record low mortgage rates and low prices, but are finding fewer properties to choose from.

As such, some real estate agents are soliciting once-expired listings to convince sellers that they can give them a successful second chance at making a sale. For example, in Atlanta, one broker, who realized the value of expired listings, offered 25 iPads to her real estate agents who brought expired listings from competitors.

“Think about this … every single listing is now twice as prominent and important as it would have been back in the day of 100,000 available listings,” broker Ann Bone told RISMedia. “Each listing today is worth two listings two years ago.”

Many real estate professionals take a listing for 90 days and if it doesn’t sell, then it expires. Several MLSs require that expired listings stay off the market for at least 90 days to prevent agents from continually relisting properties and hiding the actual accumulated days on the market, reports RISMedia.

Some agents report that they’ve had some luck at taking an expired listings and then selling them within five days of coming back as a new listing. But others caution it’s not as easy as just relisting the property. Many of these expired listings may need to address possible flaws that may have held them back in the first place — such as not priced right for the market or not in the right condition — before they return to the market, if they hope for a better outcome.

 

The author of this article is: realtormag.realtor.org

 See the original post at: http://realtormag.realtor.org/daily-news/2012/06/28/dead-listings-get-new-life

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Posted on June 29, 2012 in Housing

Featured Buckhead Gay Realtor: Chad, Keller Williams Peachtree Road

Chad - GA

I am a local real estate professional with Keller Williams located in the heart of Buckhead, I specialize in Buckhead and several other metro Atlanta neighborhoods. I have lived in Atlanta for over 13 yrs. and have gained a vast knowledge of the market trends through out this great city. I have personally resided in many of the neighborhoods and communities this great town offers over the years. Currently I live in the Buckhead Village and enjoy a terrific skyline view from my condominium. I enjoy my dogs, fitness, interior design and spending time with close friends. But, most of all I enjoy help people start new lives by finding their dream home.

Click here to search for a gay or lesbian real estate agent anywhere in the country.

 

Professional/Personal Distinctions:

My services include helping you find the right home, assisting you in arranging financing, negotiating a good purchase price on your behalf, and handling the details of the transaction to ensure a smooth closing. In addition I work with a vast list of vendors to help cover all your home needs. Should you need painting, cleaning, or decorating needs I am a phone call away and am happy to put you in touch with some of my favorite people to work with. When the time comes for you to purchase a new home or sell and move on, I would appreciate the opportunity to represent you.

 

Specialties:

ICertified E-Pro Member National Association of REALTORS Recently I have worked with HGTV on 3 episodes of the highly rated show “My House is Worth What?” Appearing as the local Real Estate expert assisting people in finding out the true value of their renovations and helping to establish a general price range for listings. “My House is Worth What?” is the number 2 rated show on HGTV after only one year and reaches an audience over 1 million. As well as a featured homeowner on “National Open House”.

 

 

View Chad’s  Complete Profile & Contact Him Immediately by Clicking Here

Occasionally we’ll feature one of our top gay real estate professionals here to let our readers know about some of the great Gay Realtors, Lesbian Realtors, Gay Friendly Realtors, and other Real Estate Professionals at GayRealEstate.com

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Posted on June 29, 2012 in Gay Realtors

Are Appraisers ‘Scared’ to Report Rising Prices?

Real estate professionals and mortgage loan officers say that appraisers seem to be reluctant to report price appreciation occurring in numerous spots across the nation, and it’s complicating sales transactions, The Real Deal reports.

Appraisal problems — where property valuations have come in lower than the agreed-upon sales price — have been an ongoing problem in derailing many real estate transactions the last few years. And despite reports of several markets seeing an increase in their home prices, many agents report that appraisals continue to be a sticking point.

Thirty-three percent of real estate professionals say they are continuing to face appraisal problems, according to a survey conducted by the National Association of REALTORS® in May.

Low appraisals “in markets that are no longer in decline is the single most important” valuation obstacle to “seeing a real recovery,” NAR President Moe Veissi says.

Appraisers may be being overly cautious, not wanting to be accused of potentially overvaluing properties, says Frank Gregoire, an appraiser based in St. Petersburg, Fla., and also a former chair of the Florida Real Estate Appraisal Board. Gregoire told The Real Deal that appraisers fear they may expose lenders to future lawsuits or high-cost “buy-back” demands by Fannie Mae and Freddie Mac.

“Appraisers are scared to death” to report rising values, Joseph Petrowsky, owner of the mortgage company Right Trac Financial Group Inc. in Manchester, Conn., told The Real Deal. Petrowsky says the appraisals aren’t reflecting the pick-up in some markets, in which some properties have even seen bidding wars.

Dennis Smith, co-owner of Stratis Financial Corp., recalls a bidding war recently in which four buyer offers took the contract price from $350,000 to $375,000, but the appraisal valuation still came in lower the contract price.

Nevertheless, the Appraisal Institute insists that appraisers aren’t discounting price appreciation in markets. Appraisers have a professional duty to arrive at valuations that “reflect the market,” whether positive or negative, and also reflect the most recent data, says Sara W. Stephens, president of the Appraisal Institute.

 

The author of this article is: realtormag.realtor.org

 See the original post at: http://realtormag.realtor.org/daily-news/2012/06/28/are-appraisers-scared-report-rising-prices

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         Click here for list of gay realtors, lesbian realtors and gay friendly realtors Nationwide.


If you have a real estate story that you’d like to share with us with the gay and lesbian real estate community, please contact us at:
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Posted on June 28, 2012 in Home Prices

5 Top Hot Spots for Buying Rental Properties

Rents are on the rise nationwide and investors are looking to cash in. Local Market Monitor recently reviewed 316 housing markets to find which ones offered some of the highest returns on investment potential for single-family rental properties.

The following are the top five markets that emerged from its list as best places to purchase a rental property in the U.S.

1. Las Vegas

Median home price (2012): $122,000

Estimated median home price by 2015: $121,087

Projected annual rent in 2015: $12,829

2. Detroit

Median home price (2012): $78,000

Estimated median home price by 2015: $93,982

Projected annual rent in 2015: $9,016

3. Daytona Beach, Fla.

Median home price (2012): $114,000

Estimated median home price by 2015: $123,282

Projected annual rent in 2015: $11,048

4. Orlando, Fla.

Median home price (2012): $115,000

Estimated median home price by 2015: $150,491

Projected annual rent in 2015: $13,105

5. Warren, Mich.

Median home price (2012): $114,000

Estimated median home price by 2015: $116,706

Projected annual rent in 2015: $9,308

 

The author of this article is: realtormag.realtor.org

 See the original post at: http://realtormag.realtor.org/daily-news/2012/06/28/5-top-hot-spots-for-buying-rental-properties

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Posted on June 28, 2012 in Home Buyers

Featured Atlanta Gay Realtor: Larry, PrimeBuy Real Estate

Larry - GA

My name is Larry , Owner/ Broker of PrimeBuy Real Estate and Associate Broker/ Owner of DreamMakers Realty Group.

I’m licensed in both Georgia & South Carolina and specialize in residential listings throughout the Atlanta/Metro area.

I work with home buyers & sellers, this includes short sales.

Please contact me to get information on how to buy a home, sell your home, property values or new Subdivision sales.

I look forward to assisting you!

Click here to search for a gay or lesbian real estate agent anywhere in the country.

 

Professional/Personal Distinctions:

I’m a member of: •Atlanta Board of Realtors •Spartanburg Board of Realtors •Georgia Association of Realtors •South Carolina Association of Realtors •National Association of Realtors •Graduate; Georgia Military College •Certified Foreclosure Specialist (CFS) •Certified Distressed Property Expert (CDPE)

 

Specialties:

I specialize in residential sales that are either short sales or foreclosures. These types of sales are normally a little more difficult than a standard sale and it takes experience to make it through the process without the hassles ~ I have that experience.

 

 

View Larry’s  Complete Profile & Contact Him Immediately by Clicking Here

Occasionally we’ll feature one of our top gay real estate professionals here to let our readers know about some of the great Gay Realtors, Lesbian Realtors, Gay Friendly Realtors, and other Real Estate Professionals at GayRealEstate.com

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Posted on June 28, 2012 in Gay Realtors

Fewer Home Owners Late on Mortgage Payments

The number of home owners with severely delinquent mortgages — 90-plus days past due or in foreclosure — fell 37 percent in May compared to its peak in January 2010, according to a new report out by Equifax. Seventy percent of those delinquencies are loans opened between 2005 through 2007, Equifax notes in its May National Consumer Credit Trends Report.

“That severe mortgage delinquencies are trending downward is not surprising given generally improving economic conditions,” says Amy Crew Cutts, Equifax chief economist. “What is surprising is that even with the foreclosure moratoriums and the slow resolution of foreclosure backlogs, the downward trend has been a steady, consistent drumbeat of recovery. If this pace continues, we expect the volume of severely delinquent mortgage balances to return to mid-2007 levels by the end of 2014.”

According to the report, severely delinquent non-agency loans have seen the largest drops. Non-agency severely delinquent loans fell 45 percent in May to $320 million compared to its peak in January 2010 of $580 million. Meanwhile, agency-sourced mortgages — those that are backed by Fannie Mae, Freddie Mac, the Federal Housing Administration, and Veterans Administration — declined 9 percent in May to $130 billion compared to its peak in January 2010 of $142 billion.

The report also showed that mortgage write-offs have dropped 28 percent in May from their peak in 2010. Also, home mortgage balances have fallen 12.5 percent to $8.6 trillion compared to its record-setting $9.8 trillion reached in October 2008.

 

The author of this article is: realtormag.realtor.org

 See the original post at: http://realtormag.realtor.org/daily-news/2012/06/28/fewer-home-owners-late-mortgage-payments

At GayRealEstate.com, we keep you updated with all the gay realtor, lesbian realtor, gay realty, gay real estate and general real estate news affecting the LGBT community coast to coast, and in your neighborhood.

         Click here for list of gay realtors, lesbian realtors and gay friendly realtors Nationwide.


If you have a real estate story that you’d like to share with us with the gay and lesbian real estate community, please contact us at:
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Posted on June 27, 2012 in Home Ownership

Are Banks ‘Hoarding Foreclosures’?

Recent housing surveys are showing an uptick in home prices, particularly in cities in warm-weather “sand states” that had been hard-hit during the housing slump, such as in Phoenix, Las Vegas, Miami, and Tampa. But some housing experts worry that the lift in prices may be temporary due to banks “hoarding foreclosures.”

Some real estate professionals allege that the “synthetically pumped prices” are being caused by “banks stockpiling foreclosed properties and purposely keeping them off the market until area prices truly soar.”

For example, in Phoenix, in the “sand state” of Arizona, home prices have been soaring the past six months.

But real estate professional Michelle Tremblay, with West USA Realty in Phoenix, tells MSNBC: “We can see on the street what’s vacant and what’s not. We’re watching these [foreclosed and non-listed] houses just sit and rot. The banks are letting these houses just deteriorate. They’re holding them and releasing them slowly to drive the value up.”

Some markets are seeing a decrease in inventory of for-sale homes, which has helped lift home prices in some areas due to an increase in demand but limited supply. But real estate professionals say they’re concerned what will be temporary when banks start releasing more foreclosures to the market. Some have accused banks of purposely holding onto foreclosures to wait for home prices to recover so that they can get higher returns for the homes, but real estate experts are concerned that could stall the housing recovery.

However, Mark Vitner, Wells Fargo senior economist, asserts that large banks are not hoarding foreclosures and waiting for prices to perk up.

“I don’t think there’s any concerted effort to hold properties back from the market,” Vitner told MSNBC.com. “The process to [work through and re-sell] foreclosure inventory is lengthy and there just seems to be a lot of hurdles out there to getting these properties to market. A lot of the best properties have been in foreclosure and have already sold.”

Backing up that assertion, CoreLogic, a market analytics service, reports that residential shadow inventory — which includes foreclosures — fell to 1.5 million units in April, a 14.8 percent drop from the same month one year earlier.

 

The author of this article is: realtormag.realtor.org

 See the original post at: http://realtormag.realtor.org/daily-news/2012/06/27/are-banks-hoarding-foreclosures

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If you have a real estate story that you’d like to share with us with the gay and lesbian real estate community, please contact us at:
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Posted on June 27, 2012 in Foreclosures

The Biggest Growth Spots in the Next 20 Years

Small to mid-sized cities will likely be the “biggest winners in the housing market two decades from now,” predicts Stan Humphries, Zillow’s chief economist. Some of these cities will be near large metro areas while some may be more distant and include small to mid-sized cities in college towns too, Humphries adds.

Humphries says market “winners” in the next 20 years will likely be places like Austin, Texas; Savannah, Ga.; Athens, Ga.;  Rochester, N.Y.; Boulder, Colo.; Madison, Wis.; Knoxville, Tenn.; and Spokane, Wash.

“Why do I think that these communities are going to fare better than rest?” Humphries writes in an article for Business Insider.“The suburbs and exurbs around large coastal metros like New York, Los Angeles, San Francisco, Seattle, Miami, and DC have grown in large part because of strong job creation in these markets paired with rising home prices close to the urban core. New arrivals coming to these markets in search of jobs often end up living in the suburbs or exurbs to find affordable housing. Or they rent housing in the urban core until they marry and have children, moving out in order to find a bigger home they can afford.”

Humphries acknowledges that the increase in commuting costs could threaten more home owners moving away from urban cores. But he predicts that a growth in smaller manufacturing firms “will make smaller metros more economically viable.”

“If energy costs do rise, I’d definitely bet on the increased dispersion of firms to suburbs and beyond versus the proposition of more migration of people from these areas into the urban core,” Humphries notes.

 

The author of this article is: realtormag.realtor.org

 See the original post at: http://realtormag.realtor.org/daily-news/2012/06/27/biggest-growth-spots-in-next-20-years

At GayRealEstate.com, we keep you updated with all the gay realtor, lesbian realtor, gay realty, gay real estate and general real estate news affecting the LGBT community coast to coast, and in your neighborhood.

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If you have a real estate story that you’d like to share with us with the gay and lesbian real estate community, please contact us at:
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Posted on June 27, 2012 in Housing Markets

Featured Birmingham Gay Realtor: Carl, Re/Max Advantage

Carl - AL

Full time devoted Realtor with over 9 years of Real Estate experience and 15 years of sales experience!Carl is a native of Birmingham, Alabama, therefore very knowledgeable of all areas. Carl sells Real Estate in all areas Birmingham and surrounding cites and counties. He represents both buyers and sellers in all price ranges. When you are buying or selling property in today’s real estate market it’s important to have confidence in your real estate professional. Carl’s commitment as your local REALTOR is to provide you with the specialized real estate service you deserve.

Click here to search for a gay or lesbian real estate agent anywhere in the country.

 

Professional/Personal Distinctions:

Member Birmingham Area Board of Realtors Member of Multiple Listing Service Specializing in Re-Sales, New Construction & Investment Property Relocation services within the Worldwide RE/MAX Network 6,521 offices in 63 Countries Multi-Million Dollar Producer of Residential Sales 2002 Club of Excellence Member 2003 Executive Club Member 2004 100% Club Member 2005 100% Club Member 2006 100% Club Member 2007 100% Club Member 2008 100% Club Member ABR – Accredited Buyer’s Rep. CRS – Certified Residential Specialist

 

Specialties:

Residential Single Family – Resale and New Construction Also list and sells Condominiums, Townhomes and Lofts. Works with Investors looking to purchase or sell Rental Properties. I can help make your re-location to the Birmingham area a smooth transition. Contact me with any questions.

 

 

View Carl’s  Complete Profile & Contact Him Immediately by Clicking Here

Occasionally we’ll feature one of our top gay real estate professionals here to let our readers know about some of the great Gay Realtors, Lesbian Realtors, Gay Friendly Realtors, and other Real Estate Professionals at GayRealEstate.com

At Gay Real Estate, we keep you posted about all the residential real estate news, gay real estate news and Gay Realtor stories affecting the gay and lesbian home buying and selling community coast to coast, and in your neighborhood!

Click here for list of gay realtors, lesbian realtors and gay friendly realtors Nationwide.

If you have a real estate story that you’d like to share with us with the LGBT community, please contact us at:
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Posted on June 27, 2012 in Gay Realtors