October 24, 2012
Last week in review (October 15 - 19, 2012)
Last week, several reports brought some surprising good news to the markets. Read on for details and what they mean for home loan rates.
Table source: Mortgage Success Source
There were two pieces of good news on the housing front, as housing starts increased 15% in September to their fastest pace in more than four years. Building permits, a sign of future construction, increased by more than 11%, also above expectations. These are both signs that the housing sector’s recovery is gaining some momentum. Also last week, retail sales and the Philadelphia Fed Index, which measures manufacturing in that region, were both reported better than expected. But there was some disappointing news
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Remember that commercial that popularized the catchphrase “There’s an app for that?” Imagine what viewers would say if they saw it today. “Duh,” one might say. “There’s more like 20 apps for that,” another might quip. Not only are there innumerable apps for all things shopping-, money-, and real estate-related, virtually everyone who is in a position to buy or sell a home also totes a smart phone around with them, all day, every day.
These two truths create a third: home buyers don’t just like to use apps here and there – they actually rely on them to conduct their daily lives. Get this: behavioral scientists have actually recognized the existence of a new psychological condition called “nomophobia,” the emotional panic and depression –the feeling…
Daily Real Estate News | Tuesday, October 23, 2012
The latest mortgage fraud scam known as “flopping” has sellers who actually make their home look undesirable so that they can attract low offers from buyers.
Here’s how it works: The seller is underwater on their mortgage and wants to get the lender to agree to a short sale. The seller, working with an accomplice, seeks to get a super low price to sell their home in the short sale by making bogus damage claims. Once they get the bank to agree to a short sale, the home is sold to an accomplice who then quickly cleans up the home and resells it for a profit.
“Floppers,” as they’re known, average a…
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Derogatory credit and the time that needs to elapse since an event such as bankruptcy, short sale or foreclosure to complete new financing has been a common question. In summary FNMA/FHLMC, FHA, VA & USDA's guidelines are listed below.
A two year waiting period is required since the date of discharge of Bankruptcy.
NOTE: Must use sale date shown on Trustee’s Deed for mortgages included in bankruptcy and a 3 yr waiting period from this date will apply. If FHA Mortgage foreclosure, date FHA paid the claim is required. Call HUD to verify when that was to move forward.
A two year waiting period is required from discharge date.
If the bankruptcy was discharged within the last
When the dead start to walk you'd better start building
by N.A. | BRUSSELS
THE streets are full of lurching, brain-hungry zombies and humanity faces extinction. Should you run for your life or stand your ground? Luckily, bespectacled men and woman who stare at blueprints have already started thinking about it. Architects are designing zombie-proof housing for Zombie Safe House, a design competition, now in its third year. It was originally devised by a trio of designers at Architects Southwest, an architectural firm in Louisiana, as an informal platform for colleagues to showcase their creative talents in a “pragmatically unconstrained format”, says co-founder Shea Trahan. It now attracts hundreds of students, practicing architects,…
By Melissa Knowles | Trending Now –
The world may end at the end of this year, or at least that is what a number of people are fearing because of the ancient Mayan calendar that does not go beyond December 21, 2012. Some people even fear that the end of the world could come in the form of a zombie apocalypse. If you're a doomsdayer or know someone who is, a California-based company has a new solution for you.
[Related: Mayas prophesized, but not end of world]
Atlas Survival Shelters, whose slogan is "Better prepared than scared," offers survival chambers made out of 32x10-foot metal tubes. The chambers are designed to be installed 20 feet underground, far away from the possible crumbling of the world above. The survival chambers would be…
We are very happy to welcome to The Cascade Team Laurie Tarantola, Laurie is a referral from Stan Chang and comes to us from Keller Williams. She has over 20 years of experience in buying and selling real estate. For the past few years, Laurie has focused on investment properties, but will now be including her personal love of horses and also focus on equestrian properties.
Laurie's contact information is:
- Cell Phone 425-246-8633
- Fax 425-996-9520
- Email firstname.lastname@example.org
- Website http://ltarantola.com/
Certified Investment Analyst (CIA). Buying and selling Real Estate in King County for 20 years I know how to help you!
Turnkey Properties, Inc.
January 1990– Present(22 years 10 months)…