Realtor/Coach/Trainer
This is a little better than what I expected. We always get a bump in January from sellers coming back to the market after the holidays. Here is the full pdf of the February Market Action 2008 February will not usually continue the wave. The inventory dropped 19% which is a lot but not outside […]
I don’t like Median and Average Sales Prices because there are so many factors that can affect it. But I do like the actual numbers. For the year so far in comparison to last year, Listings ↑3% Pending Sales ↓35% Closed Sales ↓30% They say we don’t have to the same exposure to the subprime […]
They actually sold enough tickets to hold the raffle, 5000 for $100 each. I have been giving this a lot of thought to imagine the pitfalls and the biggest is the income tax on the prize. The home in this raffle is appraised at $390,000 according to the story. An accounting firm did an analysis […]
I was looking for information on something else and came across this post. I have heard about raffles for a house before but this is the most recent. A property over on the Oregon Coast was being raffled off. They tried to sell the property for $500,000. I guess they didn’t have much luck, so […]
It is amazing anyone has bought a house in the last 50 years.
In 1950, the average new home had 963 square feet, with two bedrooms, and one or one and a half baths. In 2004 for it was 2,330 sf. According to US Census, in 1950 there were an average of 3.27 persons per household. For 2004, it is 2.03. Houses are bigger and families are smaller. […]
From RMLS: Under an agreement with the Attorney General of the State of New York and the Office of Federal Housing Enterprise Oversight, Fannie Mae will take steps to assist regulators in their efforts to enhance the quality and independence of the appraisal process. Fannie Mae will adopt a Home Valuation Protection Code and beginning […]
I read a headline that said home prices could return to 2001 level. I would find that to unlikely but possible for a brief period of time. I have seen a lot of flexibility out there and appraisals getting tougher. The last five years have been similar to me hitting a slick spot in the […]
In Florida a bank made a mistake changing the locks and draining the pool on the wrong house. Well heck, won’t they all be in foreclosure eventually. Seems possible based on the news. Here is a link to the video.
The latest data says it is a recession. Delinquencies hit 23-year high. A snag on the road to refinance. Employers slash jobs. Maybe FHA will save the day. There will be days of good news to come but this isn’t one of them. My belief is that it is never as good or as bad […]
Who doesn’t know someone nailed by this flu or at least had it? One thing I am hearing, and possibly feeling, is that it comes back just like the bad guy in the movie. One agent in my office got a second hit and I am feeling a little worse for wear. Unfortunately hit him […]
This was sent out by RMLS today: It has come to our attention that some homes that are posted for sale on Craigslist are being fraudulently re-posted as low-rate rental listings on Craigslist. The photos, address and other details were all included in the scam rental post with an e-mail address directing people to what […]
Click on the picture for the full size graph. This shows that the prime rate and it’s changes don’t always equate to immediate changes for the mortgage rates. Chart Copyright © 2008 Mortgage-X.com Source: www.mortgage-x.com Used with permission
Recovering from some kind of flu gave me the chance to watch CNBC where Bernanke, the fed chief, spoke about the economy. Expects 75-100 banks to go under. Analyst noted that during the S&L crises, 1600 banks closed. ml-implode.com tracks the mergers and closings of banks. This market change is worse than 2001 because mainly […]
I always temper any of good news I find, reasons to buy or feelings that things could turn around. I realize to many that if I say the market is great, turning around, etc. then many will say something like this I read in the comment section of Ryan Frank’s Blog: There is little significant […]
I have been lucky that I haven’t had to sell any homes with bad neighbors or really badly kept homes. I have heard of stories where neighbors hate each other bad enough to make selling the home difficult which seems contrary to reason. Wouldn’t you want the people you don’t like to move? DELTONA, Fla. […]
