Melinda Fulmer of MSN Real Estate:
Just because you can't find something you want on the market doesn't mean it isn't for sale. Follow this link for some tips. These agents are creative.
http://realestate.msn.com/not-for-sale-not-necessarily-a-problem
Okay everybody. Let's see you match this!
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In October of 2009, pursuant to SB 94, it became illegal for any person, including lawyers, real estate licensees, corporations, companies, partnerships, or any other licensed or unlicensed person or party, to demand, charge, or collect any advance, up-front, or retainer fee, or any other type of prepayment compensation for loan modification work or services, or any other form of mortgage loan forbearance, involving 1 to 4 residential units. The provisions of Senate Bill 94 were due to sunset on Jan. 1, 2013.
However, with the recent signing of AB 1950, the sunset provisions of Senate Bill 94 will be repealed, making the ban on the collection of advance fees for loan modification and forbearance services permanent.
http://ethics.calbar.ca.gov/Portals/9/documents/SB94FAQ_Revised_2011_%20PAW.pdf
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Fannie Mae's publication Housing Insights says,"If housing starts keep up with expectations and return to normal levels in 2016, it is predicted that residential construction employment will rise to nearly 2.5 million jobs." However, the pace of growth will not be quick enough to bring back all home building jobs lost during the housing bust. In 2016, the number of residential construction jobs is expected to remain nearly 1 million jobs below peaks established during the housing boom. --- mhopkins@housingwire.com
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The impact of techonology on office space:
Workers are more interested in collaborative space and the flexibility to move their computers to the areas that best support their work that day, then fixed offices or cubicles. Collaborative meeting spaces, not individual offices, have become more prevalent. All of these trends have led to dramatic reductions in dedicated space per office worker from about 225 sq. ft. in 2010 to 176 sq. ft. in 2012, according to CoreNet Global.-- David J. Lynn in National Real Estate Investor
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Nat'l Real Estate Post:
Allan S. Blinder wants the Fed to charge negative rates. This means that the overnight rates when the banks park their money with the Fed would take money from the banks instead of increasing the money the bank put with the Fed. This is the Fed's way of forcing the banks to lend to the public instead of holding on just to hold on. This isn't necessarily a good thing. It would encourage individuals to keep cash out of banks, creating other problems like security. The Federal Reserve board believes that specialty banks would pop up just for the purpose of parking money out of the Fed Reserve. Also, tax payers might make massive payments to the IRS just to keep the money away from the Fed. Then there is the possibility of getting a certified check from your bank and stuffing it in your sock drawer and hoping someone else doesn't find and cash it.
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Nat'l Real Estate Post:
New Zillow scam: Fake rental put on Zillow with mostly true information on the address, email and phone number. The key to watch for is wiring money to England before getting the keys to the property
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The Federal Reserve polled a little under 100 banks and found 32 of respondents are less likely to approve a borrower with a FICO score of 620 and a down payment of 10%. If you throw in a 20% down payment and a 680 FICO, only 8 banks said they're less likely to approve the borrower, while 16 are now more likely.
Meanwhile, the subprime market is still around, but lenders tend to avoid it with tighter FICO requirements and more regulations stifling interest. Brenda Swanson for Housingwire
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Nat'l Real Estate Post:
You need to watch this one! http://thenationalrealestatepost.com/category/videos/ May 9, 2013
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Nat'l Real Estate Post:
The Problem Loan Rate Figure (60+ days late) is below 1% for the first time since 2007!
The highest was 2.89% in 2009. The higher the LTV rate the higher the chance of being late.
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Wallow in the mire of your own dissatisfaction, if you choose. But until you realize that you are in control of your own life, and are the only one to decide your fate, then you will continue to be dissatisfied. If this be your chosen fate, then you might as well discontinue your complaining about life and learn to live with it.
Placing value on your life is accepting responsibility and accountability for it - if not you, then who do you suppose? Ah'Nay Satori
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Atlanta-based Porsche Cars North America released April numbers showing a 17.3% increase in car shipments over April 2012, and a 29.1% increase for the first four months of 2013 over the previous year. Todd Rehm
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Freddie Mac posted first-quarter net income of $4.6 billion Wednesday morning, up slightly from $4.5 billion in the fourth quarter of 2012 and the second largest profit in company history.
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We're hearing at the MBA's secondary market conference that with many housing finance indicators and forecasts suggesting a downshift in refinancing and a modest pickup in purchases on the way, market participants do not want to be caught unprepared.-- Bonnie Sinnock
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With home prices surging in Southern California and across the country, builders are again seeing big opportunities. Housing starts and new-home sales are up. But even as California unemployment remains stuck above 9% — among the highest in the nation — construction companies say they're struggling to find enough qualified workers to keep up with demand for new homes. --
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Fannie Mae posted quarterly net income of $58.7 billion in the first quarter of 2013, up exponentially from a year earlier. Meanwhile, the company's comprehensive income reached $59.3 billion, compared to $3.1 billion a year earlier.
The GSE credits declining delinquencies along with strong credit results fueled by higher home prices and improved average sales prices for Fannie-Mae owned properties.
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Mark Mandel has created Compstack which uses crowdsourcing to build a database of commercial realestate and lease information. It started in San Francisco and is expanding to L.A and D.C.
"CompStak is bringing a level of transparency to the market that will be welcomed by the entire real estate community," said Zachary Aarons of Millennium Partners, a CompStak investor. -- cmlynski@housingwire.com
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Jill Pierce is a Team Leader with RealEstateAuctions.com
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