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Monday, October 14, 2013

Appraising crime scenes.


Town hall, Rostock, Mecklenburg-Western Pomerania, Germany shared by Uros Kralj
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Federal Housing Administration (FHA) loans: With the shutdown, we may see delays, but not a complete stop to FHA loan closings. A report from the U.S. Department of Housing & Urban Development (HUD) has stated that FHA's Office of Single Family Housing will remain open for business, albeit with a smaller staff. The office will continue to endorse loans and it doesn't expect the impact on the housing market to be "significant, as long as the shutdown is brief." -Sonja Bullard in Angel Oak Weekly, originally shared by Brady Webb
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Fannie Creates Floating Rate Multifamily Deals for Investors. - Origination News.
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Last year, nearly 3,000 different multifamily lenders provided a total of $146.1 billion in new mortgages for apartment buildings containing five or more units, the Mortgage Bankers Association said. -- Christina Mlynski in HousingWire
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A building that plays music when it rains.  Dresden, Germany
Originally shared by Secret of Funny Laughter. 
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According to the New York Times, mortgages are easy to come by as long as you have superior credit. A recent Ellie Mae analysis found that the average FICO scored of loans closed in August was 734 for approved borrowers, down from an average of 748 last year.
Lenders are also approving more loans for those whose credit scores are below 700, according to Jonathan Corr, the president of Ellie Mae. “About 31 percent of loans in August had scores less than 700, compared to 15 percent a year ago,” he said.
HousingWire
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Shared by Uros Kralj
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Remember a dead fish can float down stream, but it takes a live one to swim upstream.  WC Fields.
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Crime scenes only temporarily reduce property values, he(Randall Bell) says, recommending living on site or renting for 2-5 years. He also advises against demolition, since the stigma tends to attach to the land, not the building.  -- Shared by Xavier de Buck
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Jill Pierce is Team Leader with RealEstateAuctions.com

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