Monthly Archives: October 2012

After Mortgage Default, Borrowers Slow to Return to Market

Only 30 percent of borrowers who defaulted on their mortgage in 2001 had returned to the housing market within 10 years, finds a new study conducted by researchers at the Federal Reserve Bank of San Francisco. The study evaluated how long it takes borrowers to re-enter the housing market following a default on a previous mortgage.

Only 10 percent of home owners with a “serious delinquency” were able to qualify for a mortgage within 10 years after a default, according to the study.

The access to credit is the main hurdle restricting most borrowers from re-entering the housing market. The average borrower who goes through a foreclosure ends up with a credit score below 600 as a result, the study finds.

“The rate at which borrowers get new mortgages after defaulting on a mortgage is low,” researchers note. “What explains the pace of return to the mortgage market? Overall economic conditions appear to play an important role in allowing borrowers who have defaulted to return to the market. When we control for factors such as local unemployment rates and past house price appreciation, we find that these variables influence the rate at which defaulters come back to the mortgage market.”

The best predictor ever of when a defaulting borrower will return to the market is the change in the borrower’s credit score, researchers note. After five years from the default, borrowers who return to the mortgage market have seen a more than 100-point jump in their credit score.

 

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

 See the original post at: http://realtormag.realtor.org/daily-news/2012/10/31/after-mortgage-default-borrowers-slow-return-market

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 October 31, 2012 in Mortgages

Wells Fargo Sends Refund Checks to Eligible Borrowers

Thousands of home owners with Wells Fargo mortgages received a sweet surprise in the mail recently: Refund checks of between $2,000 to $5,000.

Some Wells Fargo borrowers with Federal Housing Administration-backed loans received the refund checks because they had previously paid unnecessary mortgage-insurance related fees.

Once home owners cash the refund checks, they stand to give up their right to sue Wells Fargo on the grounds that they were placed into FHA-backed mortgages unfairly, HousingWire reports.

“During the course of our own internal review, we identified a small group of borrowers who had received FHA loans between 2009 and 2011 who may have qualified for conventional financing under circumstances where such financing could have been a preferred option,” Wells Fargo told HousingWire.

FHA loans, which often come with pricier fees and insurance, are usually offered to borrowers who may not be able to make a 20 percent down payment.

 

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

 See the original post at: http://realtormag.realtor.org/daily-news/2012/10/31/wells-fargo-sends-refund-checks-eligible-borrowers

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 October 31, 2012 in Mortgages

VA Guarantees 20 Million Loans and Counting

The Department of Veterans Affairs announced it has reached a major milestone: It has guaranteed 20 million home loans since launching its loan program in 1944.

“The 20 millionth VA home loan is a major milestone and is a testament to VA’s commitment to support and enhance the lives of Veterans, Service members, their families and survivors,” says Allison A. Hickey, VA’s undersecretary for Benefits. “As a result of their service and sacrifice, as a group, they prove to be disciplined, reliable, and honorable—traits that are ideal for this kind of national investment.”

VA loans, which tend to boast low financing costs for home ownership, are available for eligible veterans, servicemembers, and surviving spouses.

The VA program has continued to grow, particularly in the last five years, due to its low interest rates. Loans for purchases have jumped 71 percent and loans for refinancings are up 20 times in that period.

The Department of Veterans Affairs boasts the lowest foreclosure rate for the past 17 quarters. It also has had the lowest delinquency rate for the past 14 quarters on its loans, according to the Mortgage Bankers Association.

 

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

 See the original post at: http://realtormag.realtor.org/daily-news/2012/10/30/va-guarantees-20-million-loans-and-counting

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 October 30, 2012 in Loans

Children: Appealing to Your Littlest Clients

Real estate agents need to keep children in mind when marketing to families and should present more information than the number of bedrooms.  Try marketing not just the home, but also provide information about nearby parks and green spaces, compile data about local schools and sports programs, and link to recreation centers on their Internet sites.

Additionally, agents should include low crime rate statistics in their marketing information, and get children involved in showings by pointing out spaces that could be used as media rooms or for crafting.  Overall, REALTORS® should keep in mind that they are marketing a lifestyle to the whole family.

 

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

 See the original post at: http://realtormag.realtor.org/daily-news/2012/10/30/children-appealing-your-littlest-clients

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 October 30, 2012 in Real Estate

Featured Bristow Gay Realtor: Jim, Coldwell Banker Residential Brokerage

Gay Realtor Jim Downs

Hello, Thank you for viewing my listing. I have been fortunate to help many members of the GLBT community find homes in and outside the beltway. Feel confident that your transaction will benefit from my 15 years of real estate experience.

I look forward to helping you find a home.

 

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


Professional/Personal Distinctions:

Full Time Agent since 1995 Associate Broker VA and DC Licensed REALTOR Virginia Licensed REALTOR Washington DC Life Member Top Producer PWAR Real Estate Investor since 1993

 

 

Specialties:

First Time Buyer Assistance,Comprehensive Home Valuation Info CMA,Buyer Agent,Seller Agent,Rental Agent Foreclosure Sales Specialist.

 

 

View Jim’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:
manager@gayrealestate.com

 

Posted on October 30, 2012 in Gay Realtors

Featured Albany Gay Realtor: Reginald, Realty USA

Gay Realtor Reginald

Specializing in assisting buyers with FREE buyers agency or transaction brokerage – seller pays my fee!

Free sellers comprehensive market analysis.

Relocating? I’ll send you a FREE relocation kit and more.

 

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


Professional/Personal Distinctions:

Member of Capital Region Multiple Listing Service, Member of New York State Association of Realtors, Member of National Association of Realtors.

 

 

Specialties:

Residential Real Estate including: Single Family Resale and New Construction – Condominiums – Townhomes and Lofts.

 

 

View Reginald’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:
manager@gayrealestate.com

Posted on October 29, 2012 in Gay Realtors

How to Frankenstorm-Proof a Home

As Hurricane Sandy threatens the Atlantic Coast in what’s being dubbed as “Frankenstorm,” many home owners are asking themselves: Have I done enough to disaster-proof my home? Forbes recently provided several tips on how to disaster-proof a home, including:

  • Trim the trees. Make sure the trees around your property are trimmed and pruned. Forbes points out that if your overgrown tree is near a power line, you should contact the local utility company—they may even cut the tree back for free.
  • Replace the door. “Consider replacing that rickety old door with a solid wood or hollow steel door equipped with secure hinges and a deadbolt,” Forbes writes. Plus, Forbes notes that a door replacement is one of the top things you can do to increase your home’s value, according to the annual Cost vs. Value survey.
  • Attend to any cracks and leaks. If disaster strikes, any crack in the ceiling or foundation is likely going to become a much bigger problem and make the home vulnerable to more severe damage. Plus, wiring or gas leaks can pose a fire threat.
  • Review your homeowner’s insurance. “Review your homeowner’s insurance plan to see what kind of damages would be covered,” Forbes writes. “Make sure your plans includes the proper limit, or the assessed amount it would currently cost to replace your home if need be.”

 

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

 See the original post at: http://realtormag.realtor.org/daily-news/2012/10/29/how-frankenstorm-proof-home

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 October 29, 2012 in Homeowners

Featured Iowa Realtor: Matt, Iowa Realty

Gay Realtor Matt

Matt is an outside the box thinker looking to genuinely help clients with their real estate needs.

After living in Grinnell for 6 years he and his partner moved to the beautiful lake community of Holiday Lake just north of Brooklyn Iowa where he’s positioned perfectly to service all of Poweshiek county.

Let Matt’s knowledge of Grinnell, his life at the lake, and his knowledge of Poweshiek county work for you today.

Contact Matt today!

 

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

 

Professional/Personal Distinctions:

~ Member National Association of REALTORS ~ National Association of Real Estate Brokers REALTISTS

 

Specialties:

I love helping new and existing members of the community find a place they can call home! Later on when it comes to finding that weekend lake getaway place not to far from home – I’m ready to help.

 

 

View Matt’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:
manager@gayrealestate.com

 

Posted on October 26, 2012 in Gay Realtors

Top 10 ‘Turnaround’ Housing Markets

Western states continue to dominate, showing some of the fastest paces of recovery in the nation’s housing markets. With inventories falling, national median list prices increased 2.54 percent year-over-year during the third quarter, Realtor.com reprots.

The site released its rankings of the top 10 turnaround towns, based on third quarter housing data of median list price increases, inventory levels, and employment rates.

1. Oakland, Calif.

2. Sacramento, Calif.

3. San Jose, Calif.

4. San Francisco

5. Seattle-Bellevue-Everett, Wash.

6. Bakersfield, Calif.

7. Santa Barbara-Santa Maria-Lompoc, Calif.

8. Phoenix-Mesa, Ariz.

9. Fresno, Calif.

10. Miami

 

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

 See the original post at: http://realtormag.realtor.org/daily-news/2012/10/26/top-10-turnaround-housing-markets

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:
manager@gayrealestate.com

 

Posted on October 26, 2012 in Housing Markets

Are You Doing Enough to Justify Your Commission?

About 74 percent of the general public says real estate agents do not do enough to justify their commission, according to a new study conducted by the University of Central Florida’s Department of Psychology and Merge.

Real estate professionals report they are increasingly facing questions over their paycheck in a transaction. About 73 percent of sellers raised questions about real estate professionals’ commission after a listing is sold, and 64 percent of sellers often complained about the commission agents charge, according to the study.

The study also asked hundreds of agents how often they updated their home seller clients on what they were doing with their listing. A third of respondents said they update their seller several times a week, just over a third said they provide updates once weekly, and 12 percent said they do so on a daily basis.

 

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

 See the original post at: http://realtormag.realtor.org/daily-news/2012/10/26/are-you-doing-enough-justify-your-commission

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:
manager@gayrealestate.com

Posted on October 26, 2012 in Real Estate