In a sign of the times, more and more Americans are living in their homes post-foreclosure. An article in RSI media details the growing phenomenon and attributes the situation to the volume of foreclosures that have washed over the banks and the fact that they were not prepared to process … [Read more...]
New Home Affordable Foreclosure Alternatives Program Rules Impact Cincinnati Real Estate Market
The Federal Government has recently implemented another program designed to assist home owners in financial trouble. The government has already rolled out the Making Homes Affordable Modification Program (HAMP) designed to help homeowners modify their mortgages. The new Home Affordable … [Read more...]
Cincinnati Realtor Foreclosure and Short Sale article featured in David’s Voice
This month I contributed a feature to the online magazine David's voice. I had the opportunity to share my thoughts on purchasing forclosures and short sales with their audience. I am allways very clear with my clients when they ask to see short sales and foreclosures because they are unlike … [Read more...]
Corporate Foreclosures and Individual Foreclosures
In recent weeks major real estate developers have been walking away from properties because like many home owners, they are underwater on their mortgages. Tishman Speyer Properties gave up the 56-building, 11,232-unit Peter Cooper Village and Stuyvesant Town apartment complex in Manhattan, turning … [Read more...]
Home Loan Modifications Impact Credit Scores in the Cincinnati Real Estate Market
The Making Homes Affordable program is designed to help individuals restructure their mortgages with their lenders. In lowering the monthly payments through renegotiating the terms of the loan, more people are able to avoid short sale and foreclosure situations. One unforeseen consequence is that … [Read more...]
Paying Less Than List Price for Real Estate
Nationwide buyers are paying 2.7% below current listing price in October 2009 according to a recent report. This variation has been shrinking since January when buyers were selling 4.6% below list. All real estate is local, and in some Florida markets buyers are still paying more than 7% below … [Read more...]
Federal Government Exerts Pressure on Lenders to Modify Mortgages
The Federal Government is looking to increase pressure on many mortgage lenders and banks to follow through with the loan modification that began under the 'Making Homes Affordable Program'. In the program borrowers renegotiate their monthly payments to a lower level for a trial period. If they can … [Read more...]
Cincinnati is Facing the Mortgage Crisis
Cincinnati's local public radio station WVXU is running a series of articles and providing counseling and services to those facing a crisis with their mortgage. They have done a very good job of providing reliable and direct information to those facing the hardships of foreclosures and are providing … [Read more...]
Selling a Home In Cincinnati: August Report
The Cincinnati Area Board of Realtors recently issued their monthly report. The news is pretty much what we all in the real estate field expected. Prices are still slightly depressed, but home sale volume is slightly better than last year. August 2009 was slightly better than August 2008 in terms of … [Read more...]
