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Showing posts from January, 2013

Tips Before Buying

Look the home over very well. Don't be afraid to check for leaks under the sink or look in the attic for an infestation of bats. Although you should hire an inspector to check the home over for these things, you should also check for yourself just to be sure.

Before actually purchasing a home, have a survey done on your potential property. This is important because you do not want to purchase a home and not know exactly where your property begins and ends. Not only can this cause disputes with your neighbors, but it could cause issues when it comes time to pay property taxes.

Advantage of a Down Payment

When buying a home, you have to understand that the amount that you put down on the house greatly affects everything when buying the house. If you have a smaller down payment, then the mortgage company has to use stricter debt to income ratio guidelines when approving your loan. A smaller down payment also means that you have a higher monthly payment as well.

HUD releases December Housing Scorecard

HUD and the U.S. Dept. of the Treasury recently released the December edition of the Obama Administration's Housing Scorecard, which showed the housing marketing bottomed out nationally and clearly turned a corner – as home values continued to rise and home sales remained strong in November – although officials caution that the overall recovery remains fragile.

 “As the December housing scorecard indicates, our housing market is continuing to show important signs of recovery – with the FHFA and Case-Shiller housing price indices up 5.6 percent and 4.3 percent, respectively, from one year ago,” said HUD Senior Advisor on Housing Finance Michael Berman. The December Housing Scorecard features key data on the health of the housing market and the impact of the Administration’s foreclosure prevention programs, including:

Home prices showed large annual gains for the 12 months ending October 2012, and the Administration’s recovery efforts continue to help millions of families deal with …

CoreLogic projects 6 percent rise in home prices in 2013

The CoreLogic Home Price Index (HPI), which is based on repeat sales, increased 7.5 percent in 2012, the largest increase since 2006. In 2013, CoreLogic projects home prices to rise 6 percent due to greater affordability fueling steady demand, a lower level of real estate-owned (REO) sales and a low inventory of unsold homes.

Additional key findings in the January report include:

Housing made an impressive recovery in 2012: Total homes sales increased 6 percent to 4.2 million, up from 3.9 million in 2011 – the first increase since 2005. Non-distressed homes sales increased 11 percent to 3.2 million. New sales increased 3 percent to nearly 300,000. Home price growth happened across many geographies. REO sales declined more than 20 percent to 600,000, the third annual consecutive decline. Short sales rose 23 percent to 370,000 units, the highest level since the real estate downturn began. Serious delinquencies declined by nearly 300,000 loans in 2012, which drove the seriously delinquen…

There may be money available for you under the National Mortgage Settlement

If your loan was owned or serviced by any of the settling banks - BofA, Wells Fargo, Chase, Citi, or Ally - and your home was foreclosed upon between January 1, 2008 and December 31, 2011, you may be eligible to receive a cash payment as part of the settlement. A settlement administrator has been appointed to accept claims and to oversee the distribution of settlement payments.

Claim forms must be submitted by no later than January 18, 2013. 

The easiest and fastest way to submit your claim is online. Go to: https://nationalmortgagesettlementclaim.com/and follow the instructions.

Information about the settlement administrator is also available at: www.nationalmortgagesettlement.com. The e-mail address for the administrator is administrator@nationalmortgagesettlement.com The administrator can also be called toll-free at 1-866-430-8358.

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In addition, a separate Program had been lauched previously creating a Independent Foreclosure Review for those who may have been foreclosed b…

Look For a Great Loan Officer

When you are in the market to purchase a home, shop around for the best deals on financing. Visit various loan officers and make certain that the terms which you have agreed to, are committed to on paper. Make sure there are no hidden charges. Shopping for the best rates and conditions, can save you thousands of dollars over the life of the loan.

If you are totally in love with a house that is on the market, don't let that cloud your judgment. Before purchasing the house, you need to make sure it is up to code, is really appropriate for you, and is priced right. Don't skip over these essential checks, if the house is not as good as you hoped, there will be other ones that you may like even more. TeamLund can assist you with this. Visit our website at http://www.teamlund.com to find out more.

If you have to move because of a job offer, make sure you visit your future town or city. You do not want to commit to a home without going to look at it. It may seem nice in pictures, bu…

Real estate appraisal – What It Actually Is

Real estate appraisal or property valuation is the process of determining the value of the property on the basis of the highest and the best use of real property (which basically translates into determining the fair market value of the property). The person who performs this real estate appraisal exercise is called the real estate appraiser or property valuation surveyor. The value as determined by real estate appraisal is the fair market value. The real estate appraisal is done using various methods and the real estate appraisal values the property as different for difference purposes e.g. the real estate appraisal might assign 2 different values to the same property (Improved value and vacant value) and again the same/similar property might be assigned different values in a residential zone and a commercial zone. However, the value assigned as a result of real estate appraisal might not be the value that a real estate investor would consider when evaluating the property for investm…

Clean Your Home Before Marketing It

When selling real estate there is always a lot going on. There are so many balls to keep in the air that it can be overwhelming, or at least it can seem overwhelming. Here are some great tips that you can use for your next sale to ease the process.
You are much more likely to sell your home if you do lots of marketing. Your marketing should involve an online listing on the MLS system. You may also want to create a web page specifically for your home. Post lots and lots of pictures, as well as, information about improvements that have been made and links to community amenities. TeamLund provides all of these types of marketing and more!
Give your home the best possible curb appeal when selling, by making sure that the lawn is watered and mowed, excess items are not left outside, and putting a couple of potted flowering plants by the front door. The clean cut appearance will help attract buyers to your home.
As a seller, before showing your home to anyone, be sure to have it profession…

Make Sure Your Bathrooms Sparkle!

Making the decision to sell your home can be difficult. Coupled with the unpredictable nature of the real estate market, the process can often be lengthy and arduous for a home owner. By following some of the advice provided in this article, you can sell your home quickly and maximize your overall profit.
A major selling point of a home is your bathrooms. When you are looking to sell your home, make sure that your bathrooms sparkle. Keep everything as clean as possible, including mirrors, light fixtures, and faucets. Try displaying your best or new items in the bathroom, such as your best or new rugs, shower curtains, and towels.
For best results, selling a house should be viewed as a team effort. Many times, your team consists not only of yourself and an agent, but also of property inspectors and assessors, escrow officers, mortgage and financing professionals, and maintenance and repairmen who can get your property ready for sale.
You can play a large role in determining the amoun…

The Mortgage Forgiveness Debt Relief Act Has Been Extended Until January 2014!

This has been much anticipated and will help many sellers avoid taxes on the forgiven debt related to a Short Sale. The Mortgage Debt Relief Act has been extended through January 2014. This is great news for folks needing to do a Short Sale. Check out the IRS link below!
http://www.irs.gov/Individuals/The-Mortgage-Forgiveness-Debt-Relief-Act-and-Debt-Cancellation

Ignite a Buying Frenzy

Listed below are some tips that will help you get started on the sale of your home and organized so that you can successfully sell it.
To ignite a buying frenzy on your home, include a garden pond on your property. Many agents across the United States claim that not only is a pond a beautiful addition to a home but many buyers are stipulating that they will only view residences that have this feature included.
If the carpeting in your home looks dingy, you should try to invest in new carpet so the value of your home increases. It is best that you invest in a light tan neutral color for carpet selection because it matches a wide variety of buyer's tastes, making your home more likely to sell.
Before you leave the house for the day, make sure that you have emptied your kitchen trash, even if you keep your trash under the sink. Buyers can come to view your house while you are away at work. If you leave trash in your kitchen, it will not create a good impression.

Tips to Sell a Vacant Home

If you are trying to sell a vacant home, consider hiring a professional staging company. This type of company will come in and make your vacant house look like a lived in home, attracting more potential buyers. Though there is cost involved in staging, you might find the expense to be worthwhile if it significantly reduces your days on market.

When staging your home to sell, don't over fill bookshelves. Buyers love bookshelves, especially built ins, but they hate clutter. Make sure to display only your most beautiful books on the shelves and add a couple of candles or picture frames too. Buyers will have a clean, well kept impression of your house. This can lead to a quicker sale.