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The Obama administration, in conjunction with federal regulators and led by the overseer of Fannie Mae and Freddie Mac, are very close to announcing a pilot program to sell government-owned foreclosures in bulk to investors as rentals, according to administration officials. There are currently about a quarter of a million foreclosed properties on the books of Fannie Mae, Freddie Mac and the Federal Housing Administration (FHA) and millions more are coming. The foreclosure processing delays of last year created a mammoth backlog of properties yet to be processed, which are […]

When David Martin and his wife bought their north Seattle condo five years ago, they figured they had plenty of time to downsize if they needed to before they retired. Now, with the property worth roughly $60,000 less than the balance of their mortgage, Martin, 68, has been giving serious thought to just walking away, a process lenders call “strategic default.” “Guilt and morality are one side, and objective financial analysis are on the other side,” Martin said. “They’re coming to two opposite conclusions. I wonder how many other people are […]

What do the following have in common? 
A deep understanding of market dynamics – Active Listening – Attention to detail – A high level of responsiveness – Access to ‘insider’ resources – All backed by Arizona’s most respected residential brokerage; These are some of the advantages I deliver to my clients.

More specifically, you’ll appreciate the small town values and integrity I bring to the table. Whether you’re a primary homebuyer, an investor, a foreign resident seeking a second home, or a first time homebuyer, you can count on a consistent, […]

Unemployed home owners who have mortgages backed by Fannie Mae or Freddie Mac may be eligible for up to a 12-month reprieve from paying their mortgage or paying reduced payments for that time period. The mortgage giants’ program currently allows six months of relief to the unemployed. Freddie Mac announced that the changes will take effect Feb. 1. However, Freddie officials say extended one-year forbearance period will be temporary, and borrowers will still be responsible for eventually owing the payments they’ve missed. Fannie Mae announced it also would be implementing […]

More Americans interviewed by Fannie Mae for its national housing survey are optimistic about their financial prospects and the housing market in the coming year. Most respondents believe home prices will edge up at least 0.8% over the next 12 months. That is up from predictions of a 0.2% increase in November. About 40% of those surveyed expect their financial situations to improve in 2012 and another 39% said their situation will remain the same. More than one-fifth of respondents said their income is now significantly higher than it was […]

High-quality images are an important ally in attracting buyers to your listing and selling a home, real estate pros say. David Rezendes, who won the 2011 “Top Real Estate Photographer” honor by the Photography for Real Estate organization, offers up some of his secret tips to AOL Real Estate on taking better property photos: Don’t always shoot wide. A wide shot can capture an entire room and show off its roominess, but sometimes focusing in on a vignette or architectural detail will better “convey the feeling of a house and […]

The number of homes that resold in the greater Phoenix area rose for the 12th consecutive month in November, DataQuicksaid Friday. When reviewing property sales in the combined Maricopa-Pinal counties, the data firm said 7,766 new and resale homes and condos closed in escrow. That is down 3.5% from October, but up 9% from last year, DataQuick said. Maricopa houses the city of Phoenix, and is the fourth-most populous county in the country with more than 3 million residents. Sales of home priced between $100,000 and $200,000 rose the most […]

A Realtor with Experience, Knowledge and Dedication, Mike is a lifelong resident of Albuquerque and has been a Realtor for over 35 years. He is a member of the Coldwell Banker “Diamond Society”, a designation awarded to only 19% of all Coldwell Banker agents worldwide. He has earned his ePro and CDRS (Certified Default Resolution Specialist) designations. He is also a multi-year, multi-million dollar producer.

Mike specializes in residential properties and loves the challenge of finding just the right property for each individual buyer. 

Through his many years of experience Mike […]

Average on the 30-year home loan drops to 3.91 % from 3.95 % 2012 looks to be another year of opportunity for the few who can afford to buy or refinance a home. The average rate on the 30-year fixed mortgage fell to 3.91 percent this week, Freddie Mac said Thursday. That matches the record low reached two weeks ago. The average on the 15-year fixed mortgage ticked down to 3.23 percent from 3.24 percent. That’s up from 3.21 percent two weeks, also a record low. Mortgage rates are lower […]

Several real estate professionals say cash-back incentives that some lenders are using to tempt delinquent borrowers to do a short sale over a foreclosure are not very effective because it’s not clear on who qualifies for the program. Some banks are trying out such short-sale incentive programs because “it’s costing banks a fortune to do the foreclosure, and they want to cut their losses,” says Sherry Lee, broker/owner of Lee Property Sales in West Palm Beach, Fla. Florida, which has a high number of foreclosures, was selected by Bank of […]