Those who are underwater aren't "trapped" in their homes, they are free to move. The system has been very generous, and even if the Congress doesn't extend the debt-tax relief, the banks will be processing short sales to enable the underwaters to move - without having...
Yesterday we saw how the number of short-sale listings were dropping off around our north county coastal region, in spite of the expiring relief on debt-tax. In the New Age of Coddling, we have seen the government devise several programs to rescue distressed...
The extension of the debt-tax relief act is still up in the air. There have been several bills submitted, and everyone from the N.A.R. to the nytimes.com thinks there is a good chance that our Congress will extend it....but will we need it? Did the threat of it...
Let's look forward to future closings - how do the active, contingent, and pending listings stack up? San Diego County All-Residential MLS listings: MLS Listings Actives % of Mkt Pend/Cont % of Mkt Sold6mo % of Mkt SD REO 240 4% 430 5% 2,381 15% SD SS 466 8% 4,473 49%...
We have been told that banks and servicers are now using short-sales, instead of foreclosures, as their primary defaulter-disposal method. It appears that the conversion is well underway in San Diego County - here are the number of residential distressed-sales and...
The fate of the mortgage-debt tax relief? It's going to be decided in a lame-duck session, and there doesn't seem to be enough politicians willing to create a big fight - an excerpt from the latimes.com: One key strategy question: Could the Family and Business Tax...
The gap between SD distressed and non-distressed pricing appeared to be widening yesterday. Can we get a glimpse of what to expect for the rest of the year by analyzing the current pendings and contingents? How do they look around North SD County's Coastal region? We...
Are you thinking of selling your house? Let's review Jim's Tips for Getting Ready to Sell: FIX-UPS - Do any home improvement before you go on the open market, because the most qualified buyers will visit in the first week - and the most motivated on the first day. ...
The policy of lenders pre-approving an acceptable price for their short sales is becoming more common, and with this offer, they should have plenty of takers! Bank of America is excited to offer enhanced relocation assistance. Qualified homeowners who initiate a...
From NAR's Realtor Magazine: It’s widely agreed that foreclosures and REO properties devastate nearby home values and impede the housing recovery. But we don’t hear similar complaints about short sales. How do the two categories compare where housing prices and a...
