Readers: economy at bottom but stagnant Bizjournals.com, NC “No matter what business you might be talking about, it’s not going to get better on a widespread basis until there’s an end to the foreclosure crisis, the unemployment rate begins going down, and house values stop declining and begin an upward tick. … Coninue…
At Bank of America, the nation’s largest mortgage servicer, more than 60 percent of approved short sales do not close, which is why the bank wants to streamline the process, said BofA Senior Vice President David Sunlin by telephone Thursday. Sunlin, who manages short sales for the bank, said the bank’s first goal still is [...]
Bay Area home sales delivered a smidgen of good news in April – but it came laden with the caveat that it’s too soon to declare a turn-around in the beleaguered real estate market. While home prices plunged compared with the same time last year, the median sales price for existing homes in the nine-county [...]
After 14 months on the market and about a $1.2 million price cut, a large, newly built home in the Oakland hills is on the verge of selling, assuming the bank allows it to trade for less than what’s due on the loan. The approximately $950,000 “short Read Full Article
WASHINGTON (AP) — Housing construction plunged to a record low in April as a steep drop in apartment building offset a rebound in single-family construction. Permits for new projects also hit a new low. Housing construction, permits hit record lows | EUREKA REALTY NETWORK.
High-end properties are increasingly coming under the sort of pressure once reserved for moderate homes. In fact, as slowing price declines fuel hope that the real estate bottom is near, other signs suggest the worst is on its way for the region’s upscale market. Read More Tags: luxury+homes, high+end+properties, short+sale, foreclosure
Well, not quite. Short sales have been underutilized, real-estate agents say, because they’re time consuming. It can take months to get a bank to sign off on a short sale, which is a lot longer than some buyers are willing to wait. Realtors say that banks also try to reduce their commissions on a short [...]
The government will pay mortgage-servicing companies up to $1,000 and borrowers up to $1,500 for successful short sales or “deeds in lieu” transactions. It will also spend up to $1,000 to help defray the cost of getting holders of second mortgages to release their liens so these transactions can be completed. Short sales have accounted [...]
Realtors ramp up call for standards Patience is increasingly wearing thin across the country as real estate agents become more vocal over the agonizing process. They argue that clearing the nation’s huge inventory of distressed properties is paramount to resuscitate an ailing housing market and sputtering U.S. economy. Read Full Article .
Foreclosures in California are at near-record levels, and recent declines in both property values and employment mean that more homeowners will land in foreclosure this year. That leaves many people in the Bay Area and beyond wondering either how to buy a foreclosed property or how to get help if they’re facing foreclosure. A dizzying [...]
