Molly and Stan Hyman are hitting the road and they've put their garage up for sale.
And by the way, their six-car garage comes with a house.
The Burbank couple are automobile enthusiasts and restorers who in 1995 custom-built their garage/house to give themselves room to rebuild and showcase vehicles.
Click Here to Read: Garage For Sale — Oh, And With A House Attached...
Towards A Fannieless Future Or Maybe Not
Well the Obama administration’s proposal(s) for remaking the country’s mortgage finance system has finally arrived. It, to my mind, is both a reminder of the paucity of leadership we currently enjoy as well as an important document around which to frame, hopefully, a private system which delivers unsubsidized mortgages.
As with health care, Obama has once again displayed his preference for allowing Congress to bang out the nuts and bolts of a major policy. He has perhaps taken it a step further this time by offering up a menu of possible structures, lest he be tagged with advocating something that might need a defense in the 2012 elections.
Click Here: Towards A Fannieless Future Or Maybe Not...
As with health care, Obama has once again displayed his preference for allowing Congress to bang out the nuts and bolts of a major policy. He has perhaps taken it a step further this time by offering up a menu of possible structures, lest he be tagged with advocating something that might need a defense in the 2012 elections.
Click Here: Towards A Fannieless Future Or Maybe Not...
Mystery European Buys ‘The Castle’ Home For $17.5-Million
Kris and Margaret Isberg also severed a 100 x 190-foot lot from the site as part of the sale, squeezing another $6-million out of the property and ensuring a tidy $5-million profit on their investment.
Click Here to Read: Mystery European Buys ‘The Castle’ Home For $17.5-Million...
How To Do Short Sales: The Benefits For Everyone Involved
Learning how to do short sales in the current changing marketplace is really challenging to keep up with, it’s an essential thing to do nowadays. If you’re able to disconnect and discover how to do short sales properly from individuals who can verify for you that they know what they’re speaking about then you’re going to be able to wrap your brain around the concept much easier.
You need to know the best way to be successful in this particular market to really make it and virtually all Real Estate Agents haven’t been educated the proper way. Most Realtors still don’t understand how to do them and in addition they say that they would rather not learn because of how hard they heard they are. Crazy huh? So… Precisely how to complete them the correct way without having to be scammed by fake authorities and worthless real estate “experts” who’re asking for you for precisely the same outdated re-written information.
Click Here to Read: How To Do Short Sales: The Benefits For Everyone Involved...
You need to know the best way to be successful in this particular market to really make it and virtually all Real Estate Agents haven’t been educated the proper way. Most Realtors still don’t understand how to do them and in addition they say that they would rather not learn because of how hard they heard they are. Crazy huh? So… Precisely how to complete them the correct way without having to be scammed by fake authorities and worthless real estate “experts” who’re asking for you for precisely the same outdated re-written information.
Click Here to Read: How To Do Short Sales: The Benefits For Everyone Involved...
30% Of Mortgages Are Underwater
Sometime, somehow, the foreclosure crisis will ease. But probably not anytime soon.
Home prices dropped 2.6% nationwide during the last three months of 2010, pushing more borrowers underwater, according to a quarterly real estate market survey from Zillow.com.
Now 27% of homeowners with mortgages owe more than their homes are worth. That's up from 23.2% a quarter earlier.
Click Here to Read: 30% Of Mortgages Are Underwater...
Home prices dropped 2.6% nationwide during the last three months of 2010, pushing more borrowers underwater, according to a quarterly real estate market survey from Zillow.com.
Click Here to Read: 30% Of Mortgages Are Underwater...
Friday, February 11, 2011
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Banks,
Foreclosure,
Homeowners,
Mortgage Crises,
Short Sales
Cost-Effective Ways To Boost Curb Appeal
Anyone who's ever bought, sold or even just looked at a house can tell you first impressions matter. A house can be filled to the rafters with luxury touches, but if it lacks curb appeal, few potential buyers will ever step in the door to see what's inside.
With real estate sales still sluggish across the country, curb appeal is taking on a new meaning for many homeowners. While an attractive home exterior can still boost potential resale value, homeowners are also looking at curb appeal as a way to enhance the enjoyment of their homes. Giving the exterior of their home a facelift not only makes the house stand out on the street, it also allows homeowners to "move up" without the expense of remodeling or moving.
Click Here to Read: Cost-Effective Ways To Boost Curb Appeal...
With real estate sales still sluggish across the country, curb appeal is taking on a new meaning for many homeowners. While an attractive home exterior can still boost potential resale value, homeowners are also looking at curb appeal as a way to enhance the enjoyment of their homes. Giving the exterior of their home a facelift not only makes the house stand out on the street, it also allows homeowners to "move up" without the expense of remodeling or moving.
Click Here to Read: Cost-Effective Ways To Boost Curb Appeal...
America's Most Decadent Kitchens
You need do no more research than watch a rerun of reality show The Osbournes to confirm that kitchens are the epicenter of American family life. We use them to cook, eat, congregate and mingle. So it's no wonder that home buyers fork over top dollar to create lavish spaces to dish out food.
Forbes has compiled a list of 15 U.S. homes for sale with dream kitchens a professional chef would salivate over. Our friends at Realtor.com, Trulia.com, Sotheby's International Realty and Coldwell Banker Previews International nominated dozens of luxury homes for the list. All contenders offered delectable cook spaces, but those selected from among homes ranging in price from $2 million to $68 million stood out for unique amenities or jaw-dropping layouts.
Click Here to Read: America's Most Decadent Kitchens...
Be Smart When Buying A Home Warranty
Consumers considering a home warranty need to do their homework and make sure they understand exactly what they are buying -- or possibly risk facing disappointment. Unfortunately, others have.
For the sixth consecutive year, companies that service home warranties -- service contracts designed to cover the cost of repair and replacement of common household appliances and home systems -- topped the worst-graded categories list compiled annually by Angie's List, an Indianapolis-based consumer ratings and review service with more than 1 million paid members.
Fifty-four percent of reviews submitted on home-warranty companies in 2010 rated poorly. Most of the complaints lodged concerned communication and professionalism, with many based on a misunderstanding about what the warranties covered and the quality of the repair work ultimately done.
Click Here to Read: Be Smart When Buying A Home Warranty...
For the sixth consecutive year, companies that service home warranties -- service contracts designed to cover the cost of repair and replacement of common household appliances and home systems -- topped the worst-graded categories list compiled annually by Angie's List, an Indianapolis-based consumer ratings and review service with more than 1 million paid members.
Fifty-four percent of reviews submitted on home-warranty companies in 2010 rated poorly. Most of the complaints lodged concerned communication and professionalism, with many based on a misunderstanding about what the warranties covered and the quality of the repair work ultimately done.
Click Here to Read: Be Smart When Buying A Home Warranty...
To Rent or Buy a Home?
In finding a house, it is critical to decide whether you’re going to rent it or buy it. Nonetheless, surveys say that buying a house will benefit you more in the long run compared to just renting a home; then again, all of it still basically comes down to what your needs are and what you can afford at the moment.
Click Here to Read: To Rent or Buy a Home?...
Click Here to Read: To Rent or Buy a Home?...
The Art Of Buying Good Art For Your Home
The walls are freshly painted, the hardwood floors gleam and the granite countertops complete your dream house — almost. Something is missing: a painting, print or sculpture that will complete the picture. But good art, you’re told, is quite expensive, and you’re not an expert.
What should you look for, and where? And how do you know if you’re getting good art?
Click Here: The Art Of Buying Good Art For Your Home...
What should you look for, and where? And how do you know if you’re getting good art?
Click Here: The Art Of Buying Good Art For Your Home...
BofA Creates New Unit, Names Foreclosure Czar
Bank of America Corp appointed on Friday a new foreclosure and loan modifications czar, and created a new unit to oversee problem home loans in a bid to sort out its ongoing foreclosure issues, becoming the first large U.S. bank to do so.
The new unit creates a seventh major division at the bank reporting directly to Chief Executive Brian Moynihan, an indication that the largest U.S. mortgage servicer is attempting to be more aggressive in resolving its problem loan portfolio.
Analysts said the move is a signal that major U.S. mortgage lenders have not yet turned the corner on dealing with the problem home loans on their books.
Click Here to Read: BofA Creates New Unit, Names Foreclosure Czar...
The new unit creates a seventh major division at the bank reporting directly to Chief Executive Brian Moynihan, an indication that the largest U.S. mortgage servicer is attempting to be more aggressive in resolving its problem loan portfolio.
Analysts said the move is a signal that major U.S. mortgage lenders have not yet turned the corner on dealing with the problem home loans on their books.
Click Here to Read: BofA Creates New Unit, Names Foreclosure Czar...
Realtor, Home Seller Baffled When Bank Rejects Its Own Offer
Stacy Baker fought for two years to sell her father’s house and to keep it from being auctioned off, but lost the fight even after her real estate agent said an offer was made to the bank that met its own conditions.
Baker’s father was 61 when he succumbed to complications from a heart transplant, and she said her father probably realized “it was the wrong decision after he bought it.”
Click Here to Read: Realtor, Home Seller Baffled When Bank Rejects Its Own Offer...
Baker’s father was 61 when he succumbed to complications from a heart transplant, and she said her father probably realized “it was the wrong decision after he bought it.”
Click Here to Read: Realtor, Home Seller Baffled When Bank Rejects Its Own Offer...
Understanding the Mansion Tax
ccording to Wikipedia, a "mansion" is a "very large dwelling." U.S. realtors define a mansion as a dwelling of over 8,000 square feet, whereas a traditional European mansion was defined as a house which contained a ballroom and ten or more bedrooms.
While most homes in Edgemont and Scarsdale do not contain a ballroom, many property owners might feel as if they are taxed like mansions.
If you are lucky enough to afford a home valued at over a million dollars, you should be aware of New York tax law, section 1402-a, which imposes a one percent tax upon the buyer in the purchase of residential one, two or three family homes, including condominium or cooperative units.
This tax is more commonly known as the “mansion tax."
Click Here to Read: Understanding the Mansion Tax...
While most homes in Edgemont and Scarsdale do not contain a ballroom, many property owners might feel as if they are taxed like mansions.
If you are lucky enough to afford a home valued at over a million dollars, you should be aware of New York tax law, section 1402-a, which imposes a one percent tax upon the buyer in the purchase of residential one, two or three family homes, including condominium or cooperative units.
This tax is more commonly known as the “mansion tax."
Click Here to Read: Understanding the Mansion Tax...
Getting The Job Done: Home Stager Prepares For The Sale
With so many homes for sale, sellers are looking to find any advantage they can to set their home apart from their neighbors. Home-staging businesses, assisted by numerous home-staging and decorating television shows, have sprouted to fill the need.
Carmen Wilber of DeLand started Style Fusion Home Staging last summer with her husband, Michael, helping her market the company. She is an accredited staging professional by the International Association of Home Staging Professionals.
Click Here to Read: Getting The Job Done: Home Stager Prepares For The Sale...
Carmen Wilber of DeLand started Style Fusion Home Staging last summer with her husband, Michael, helping her market the company. She is an accredited staging professional by the International Association of Home Staging Professionals.
Click Here to Read: Getting The Job Done: Home Stager Prepares For The Sale...
Unsold Mansions: The Elite Go Begging
About 45 homes are for sale in the Tucson area with price tags over $2 million.
Some are tucked into secluded, cactus-laden canyons. Others are perched on rocky outcroppings overlooking the city. Many sit alongside lush golf courses in gated communities.
For the most part, they have something in common: They're not selling.
Five homes priced above $2 million sold in 2010. If that pace continues, it'll take about nine years to work through the existing inventory - and that's assuming no more come onto the market.
Click Here: Unsold Mansions: The Elite Go Begging...
Some are tucked into secluded, cactus-laden canyons. Others are perched on rocky outcroppings overlooking the city. Many sit alongside lush golf courses in gated communities.
For the most part, they have something in common: They're not selling.
Five homes priced above $2 million sold in 2010. If that pace continues, it'll take about nine years to work through the existing inventory - and that's assuming no more come onto the market.
Click Here: Unsold Mansions: The Elite Go Begging...
U2's The Edge in Row Over Malibu Home Plans
U2 guitarist The Edge is locked in a dispute with California authorities over plans to build five new luxury homes near Malibu, with officials claiming they would harm the local environment.
The star -- real name David Evans -- wants to build the houses on a ridge in the hills overlooking Malibu up the Pacific coast from Los Angeles, and has set up a website boasting they are environmentally-friendly.
But the California Coastal Commission has filed a report recommending that the planning applications be rejected when they go before local lawmakers next week.
Click Here to Read: U2's The Edge in Row Over Malibu Home Plans...
Even More Millionaires Defaulting on Mortgages
The RealtyTrac organization predicted earlier this month that home foreclosures in 2011 will likely exceed the record 3.8 million reported in 2010.
CBS News correspondent John Blackstone reports one group of mortgage defaulters seems to be bucking the trend. In wealthy communities like La Jolla, Calif., living near the ocean is a privilege that many homeowners are willing to pay millions for.
For Darren Thomas that ocean view was quickly losing its value. He says, "I bought it for [$1.385 million]. It is worth less than [$800,000], maybe less."
Click Here to Read: Even More Millionaires Defaulting on Mortgages...
CBS News correspondent John Blackstone reports one group of mortgage defaulters seems to be bucking the trend. In wealthy communities like La Jolla, Calif., living near the ocean is a privilege that many homeowners are willing to pay millions for.
For Darren Thomas that ocean view was quickly losing its value. He says, "I bought it for [$1.385 million]. It is worth less than [$800,000], maybe less."
Click Here to Read: Even More Millionaires Defaulting on Mortgages...
Wednesday, February 2, 2011
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Defaulted Loans,
Foreclosure,
Luxury Homes,
Wealthy
The Home's Changing Financial Role
Homeownership used to be the bedrock of the American dream, but the economic storm and its lasting effects have radically changed how everyone — no matter what stage of life they're in — looks at their home.
Many potential home buyers are now hesitating, taking a closer look at their options. "People are starting to realize that the American dream of homeownership is not right for everyone," Kim McGrigg, community manager at Money Management International, a non-profit consumer credit counseling service.
Click Here to Read: The Home's Changing Financial Role...
Many potential home buyers are now hesitating, taking a closer look at their options. "People are starting to realize that the American dream of homeownership is not right for everyone," Kim McGrigg, community manager at Money Management International, a non-profit consumer credit counseling service.
Click Here to Read: The Home's Changing Financial Role...
Traps Foreclosure Buyers Need To Know
Interest in buying foreclosures is on the rise and the statistics show that nearly half of all home sales are distressed properties.
Even though it is hard to argue that these deals are the best pricewise, home buyers need to be aware of possible traps that exist when dealing with foreclosures and bank owned properties.
If you are thinking of buying a foreclosure at auction keep in mind that most likely you will not have an opportunity to see the property inside. Auction buyers usually don’t have the time to ensure they are getting a clear title and possible deficiencies may exist.
Click Here to Read: Traps Foreclosure Buyers Need To Know...
Even though it is hard to argue that these deals are the best pricewise, home buyers need to be aware of possible traps that exist when dealing with foreclosures and bank owned properties.
If you are thinking of buying a foreclosure at auction keep in mind that most likely you will not have an opportunity to see the property inside. Auction buyers usually don’t have the time to ensure they are getting a clear title and possible deficiencies may exist.
Click Here to Read: Traps Foreclosure Buyers Need To Know...
Tuesday, February 1, 2011
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Labels:
Foreclosure,
Home Buyers,
Home For Sale,
Real Estate Investing
Banks still holding 70% of REO from market
RealtyTrac Senior Vice President Rick Sharga said major banks currently hold roughly 1 million REO, or homes repossessed through foreclosure, but only 30% have actually made it onto the market.
RealtyTrac is an online real estate channel where potential homebuyers look for properties discounted after the foreclosure process, along with more traditional sales. It also puts out monthly foreclosure numbers across the country by tracking filings from notices of default through repossession at the county level.
Click Here: Banks still holding 70% of REO from market...
RealtyTrac is an online real estate channel where potential homebuyers look for properties discounted after the foreclosure process, along with more traditional sales. It also puts out monthly foreclosure numbers across the country by tracking filings from notices of default through repossession at the county level.
Click Here: Banks still holding 70% of REO from market...
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