Dec. 4 - The CALIFORNIA ASSOCIATION OF REALTORS®’ (C.A.R.) announced today it received a letter from the California Franchise Tax Board (FTB), obtained by Board of Equalization (BOE) member George Runner, clarifying that California families who have lost their home in...
From NMD: RealtyTrac reports that the nature of distressed property sales is evolving. In its most recent report on market and distressed sales, the company noted that changing economics are increasing the reliance on more traditional third party purchases at...
From the wsj.com: Troubled homeowners who get a break from their mortgage lenders could face a hefty tax bill next year if a key provision expires at the end of the year, though state laws could determine which borrowers will have to write a check to Uncle Sam....
Hat tip to daytrip for sending in this article from the latimes.com alerting us to the expiring The Mortgage Debt Relief Act of 2007, wrapped around the free cheese in the recent JP Morgan settlement:...
Hat tip to bode for sending this in from the latimes.com: A Bank of America Corp. employee assigned to deal with delinquent mortgages has been arrested on federal charges of accepting more than $1 million in bribes to allow homes to be sold far below their market...
Received today from the National Association of Realtors: NAR members recently received word that the U.S. Department of Housing & Urban Development would be implementing a new policy on Oct. 1, 2013, that would prevent dual agency agreements in FHA...
The impact of the short-sale fraud is becoming more obvious. It was at its worst in 2012, and though there has been some rebound this year, the short-sale average pricing is still well below the rest: NSDCC detached homes sold between June 1-to-August 31: Year REOs SS...
Distressed sales have dwindled down to a fraction of the NSDCC market, though they were never a large contributor. Here are the detached-home sales from the June 1-to-August 31 period: Year REOs SS Non-Distressed % Distressed 2009 48 35 572 13% 2010 46 69 575 17% 2011...
Short sales should be sold just like the rest. Put an attractive price on it, conduct open-house so every buyer has a chance to not only see the property but the other potential bidders too, and then take all offers:
We tried everything possible to sell this for enough to cover the notes, but other agents giving away properties around us prevented us from doing any better. There have been two BPOs completed that were in this range, and the bank couldn't wait any longer - so this...
