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Under new rules that took effect June 15, underwater borrowers with Freddie Mac- or Fannie Mae-backed loans who sell their homes in a short sale now will receive decisions on whether their short sale is approved from lenders within 60 business days. The new guidelines are viewed as a way to speed the short sale process, which once averaged eight months, according to RealtyTrac. The long wait often had buyers walking away from the deals. But despite the faster deadlines now in place, the process can still be prolonged if […]

Several home owners say they want to sell their home but they can’t because they still owe too much on their mortgage. While home prices have seen a slight uptick in many areas in recent months, home owners are still waiting to see a bigger jump to take them from underwater to above water on their mortgages. Underwater homeowners’ reluctance to sell is causing inventories of for-sale homes to shrink at a time when home buyer demand has picked up considerably, USA Today reports. “When you get [houses priced] under […]

It’s been my pleasure to live and work in the Smoky Mountains for over 20 years. My offices have won Quality Service Awards for several years and I plan to continue providing service at a level that exceeds expectations. Click here to search for a gay or lesbian real estate agent anywhere in the country.   Professional/Personal Distinctions: CRB (Certified Real Estate Brokerage Manager), TAR (TN. Association of Realtors), GSMAR (Great Smoky Mtn. Association of Realtors), KAARMLS (Knoxville Area Assoc. Of Realtors MLS)   Specialties: Primary residences, second homes, and […]

Citigroup ($27.64 0.18%) saves the most money when doing short sales among the largest mortgage servicers in the country, according to Barclays Capital research. The bank conducts a short sale on 40% of its resolutions of troubled loans, the third highest percentage. Bank of America ($8.06 0.01%) and JPMorgan Chase ($35.88 -0.1%) each resolve roughly half of their problem mortgages through short sale. Because of the extended time it now takes a foreclosure to be completed and the maintenance and litigation costs involved, short sales reduce loss severities by as […]

Mortgage rates barely moved, hovering at or near the record lows set last week. The Freddie Mac survey showed 30-year, fixed-rate mortgages averaged 3.66% for the week ending Thursday, matching the previous week’s record low. Last year at this time, the 30-year FRM averaged 4.51%. The 15-year FRM, a popular refinancing choice, averaged 2.94% down from last week‘s average of 2.95%. A year ago, the average rate for a 15-year FRM was 3.69%. Five-year, Treasury-indexed, hybrid adjustable-rate mortgages averaged 2.79%, rising from 2.77% last week and falling from 3.22% a […]

As 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. You should find a good water damage restoration minneapolis company that has the necessary equipment and knowledge to deal with any damage to your property. “The damage from natural disasters like floods and hurricanes not only affects individual families […]

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 […]

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 […]

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 […]

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 […]