Archive for the ‘short sales’ Category
8 Signs that the Housing Market is Improving
We finally have a reason to celebrate!! There is an avalanche of positive news regarding an upturn in the real estate and housing market in 2012.
- Foreclosure activity in 2011 is down more than 50% lower in several states, including New Jersey, Maryland and Florida. Realty Trac
- The much feared “shadow inventory” of foreclosures declined dramatically in 2011. In December 2012, 2.2 million properties were in some stage of foreclosure. In September 2011, that number dropped to 1.5 million units…or a whopping 32% in nine months. Realtytrac
- Realtors in some hard hit area’s, such as Michigan and southern California, are reporting a shortage of housing inventory and a return to bidding wars in tight markets.
- Wall Street thinks the worst is over. Stocks of the nation’s five largest, publicly traded, home builders are at 52 week highs, signaling an upswing in home construction in 2012. In addition, the home builders have been snapping up deals on land and abandoned subdivisions, in anticipation of increased buyer demand. CNBC
- Home sellers, Realtors and home builders are getting help from rising rents, as Americans realize that owning a home is often less expensive than renting one. And, while future rent increases have no ceiling on how high they can go, ownership locks in housing expenses and equity is created as the loan balance decreases each month.
- Legal issues, property maintenance and other issues complicating the foreclosure process will push banks and lenders to approve more short sales in 2012, further reducing housing inventory.
- Interest rates will remain at historical lows in 2012, which allows more people to qualify for a home and cheap money buys more house for the same monthly payment.
- Overall, foreclosure activity was dropped more than 30 percent in 2011. Fewer than 2 million properties foreclosure notices were filed in 2011, down from 2.9 million property filings in 2010. Realty Trac
If you need to sell your home, things haven’t looked this favorable in years. 
Arm yourself with an MLS listing and exposure on Realtor.com and all the major search engines for real estate. Millions of home buyers search these websites, daily. If your home isn’t there, they will buy the one that is.
Thank you for visiting Why6Percent.com. We have helped thousands of home sellers and we can help you, too.
Foreclosure Moratorium Erases Competition for Home Seller’s and Builder’s
While Wall Street wrings its hands and pulls its hair over the banking problems and foreclosure moratorium, home seller’s and home builder’s have a BIG reason to celebrate. Their competition dropped the ball!!!
The moratorium on foreclosures effectively removes ONE THIRD of all the homes For Sale from the market!! 33 Percent of the competition is GONE!!! For how long, we don’t know…but, we do know that this is a RARE opportunity and all property seller’s should take full advantage of it.
What can home seller’s and builder”s do to take advantage of the Bank Error?
- Realize that Time is of the Essense! The banks will work hard and fast to get their inventory back on the market. And, when they do, they will no doubt offer special incentives that individual seller’s can not compete against. The clock is ticking…….
- Price Right and Show Well! If your home is priced right against its remaining competition, and it is staged, depersonalized and shows well, Your House Will Sell.
- Marketing to the Masses is Key! The MLS sells over 90% of all the homes in the United States. If your home is not on the MLS, your chances of selling are less than 10%. If money is tight, know that you don’t have to pay 6% for an MLS listing. You can purchase an MLS listing for your Home for only $399.
Why6Percent.com believes that “a bank moratorium on foreclosure competition” is a very unique opportunity and the window is open for a short period of time, only. We are here to help you . “The clock is ticking”. Don’t let this unbelievable opportunity pass you by!!
Top 10 Safe and Risky Housing Markets
According to the PMI Mortgage Insurance Company, which makes its money by insuring loans against default, has published its list of the 10 safest and riskiest housing markets. Seven of the 10 markets facing the highest risk of price declines in the next two years are in Florida. Six of ten markets which were determined to be of the least risk are in North Dakota and Iowa.
The PMI Risk Index takes considers factors such as unemployment, foreclosures, inventory levels and price volatility. The good news is that the risk further home-price declines decreased in 93 percent of the 384 markets tracked by PMI. The huge drop in risk was largly due to improvements in affordability and declining foreclosures.
10 riskiest housing markets
1. Naples-Marco Island, Fla.
2. Lake Havasu City-Kingman, Ariz.
3. Cape Coral-Fort Myers, Fla.
4. Lakeland-Winter Haven, Fla.
5. Palm Coast, Fla.
6. Miami-Miami Beach-Kendall, Fla.
7. Port St. Lucie, Fla.
8. Riverside-San Bernardino-Ontario, Calif.
9. Las Vegas-Paradise, Nev.
10. Fort Lauderdale-Pompano Beach-Deerfield Beach, Fla.
10 least risky markets
1. Grand Forks, N.D.-Minn.
2. Fargo N.D.-Minn.
3. Killeen-Temple-Fort Hood, Texas
4. Fayetteville, N.C.
5. Iowa City, Iowa
6. Ames, Iowa
7. Cedar Rapids, Iowa
8. Morgantown, W.V.
9. Texarkana, Texas-Ark.
10. Bismark, N.D.
Thank you for visiting Why6Percent.com. We have helped thousands of home sellers successfully advertise and sell their property. We can Help You, Too!! Call 1-800-381-9496 or visit our website for Details!
Neighbor’s Eyesore Home Stops a Sale
The appearance of nearby and neighboring homes absolutely affects a homeowners’ abililty to sell their property. Even if your home is the gem and pride of the neighborhood, buyers will be turned off if you live next door to an eyesore.
Problems with neglected, abandoned property and homes that have fallen into disrepair has escalated since the economic meltdown.
Why 6 recommends that sellers take action by placing a friendly call to the homeowner, explain they are trying to sell their home and ask them clean up their property. Or, if it’s appropriate, a seller can offer to clean up unsightly messes themselves. If a phone call fails to resolve the concern, contact local code enforcement officials or homeowners associations to find out if there is a code violation. If so, file a compliant.
A shabby run down home devalues every home near it. It’s your neighborhood. Step Up!!
Thank you for visiting Why6Percent.com. Place a Property listing on your local MLS, Realtor.com and all major real estate sites for $399…why pay 6 percent????
New Program Pays Homeowners and Banks for Short Sale
With more than 5 million households currently behind on their mortgages, the Obama adminstration is rolling out a new program to encourage lenders to accept a short sale. A short sale is one in which a property is sold for less than the outstanding mortgage owed to the lender. The administration hopes the program will prevent more foreclosures, which further depress property values and harm good neighborhoods.
The program, which takes effect April 5, 2010, pays lenders and borrowers to complete a short sale. Key points of the program are as follows.
- 1. The program compels lenders to accept a short sale offer and forgive the difference they are owed between the market value and the outstanding mortgage balance.
- 2. The lender will receive $1000 for every short sale they participate in.
- 3. The program encourages millions of borrowers to get serious about getting rid of their homes. It pays homeowners $1500 in walking away cash for finding buyer for their property and closing the sale.
- 4. The lender will utilize real estate agents to determine the present market value for a home. That value will set the minimum acceptable price. The estimated value will not be shared with the homeowner. If an offer is submitted that is equal to or higher than the estimated value, the lender MUST take it.
Pro’s and Con’s
- 1. For the investment pools which own most of the home loans, there is the hope of getting more money from a short sale than a foreclosure proceeding.
- 2. For the lender, $1000 will help offset the labor intensive short sale process.
- 3. For the borrower, their credit will suffer less damage. They have the lenders assurance that they won’t be sued down the line for their unpaid balance. And, they get $15oo to assist with their relocation.
- 4. For the community, short sales mean fewer empty houses sitting around waiting for the bank sale. It is estimated as many as half of all vacant properties are ransacked, neglected, vandalized and depress the value of neighboring homes.
- The downside is that short sales are “tailor made” for fraud. House values are inherently subjective, which providing a wide latitude of potential conflicts.
- Another problem is that bankers hate the very idea of accepting an offer short of what they are owed. By nature, they don’t want to sell anything at a discount. If they loan $200,000 …they expect to be repaid $200,000, not $150,000.
Thank you for visiting Why6Percent.com We have helped thousands of people sell their homes and save a ton of money in fee’s and commissions. We can Help You, too!!
Vacant Homes, Swimming Pools and Pleco Fish
Health Alert: Number of Stagnant Swimming Pools Increase.
Stagnant, abandoned swimming pools pose a risk to the health and life of adults, children and pets, alike. And, lenders who own these properties have been unable or unwilling to maintain the swimming pools in area’s where families live.
If you live near a dangerous, smelly, abandoned pool, you may want to try a natural, green method to remove the stench, algae and scum. In addition, this method is FREE and Bonus…it eats the insects and small rodents that may reside in the swamp next door to you.
What is this Miracle Solution for Pool Cleaning??
Enter the common, humble, pre-historic Pleco Fish. Throw a few of these into the abandoned swimming pool or spa next door, and let them do the job nature intended for them to do. To Read More About Using Pleco Fish to Clean Up Stagnant Water, CLICK HERE!!
Thank you for visiting Why6Percent.com. If you have a property to sell, we have a turnkey marketing program that reaches 10 million home buyers each month for 6 months. The price, a little more than a one-time classified ad in a newspaper that no one reads. Call us today at 1-800-381-9496. We have helped thousands of sellers and we can help you, too!! 
Virtually Stage Vacant Home to Sell
Marketing a vacant home can be difficult challenge, because empty rooms are hard to size up and they don’t stand out in a buyer’s mind. This leaves every vacant home looking like the one next door, with the only difference in a buyer’s mind being, which home has the lowest price.This problem may have been solved by Krisztina Bell, a smart Atlanta Realtor, who invented and patented a software program that will “virtually” stage any vacant property for around $250. Her company has been heralded by the Chicago Tribune, San Francisco Chronical and other publications as the answer to giving the effect of a professionally staged home at a fraction of the cost.
Thank you for visiting Why 6 Percent.com, your MLS and Realtor.com listing connection for by owners, investors and builders.
10 Signs that We’ve Hit the Bottom in Housing
Finally, the news we’ve all been waiting for…the real estate market is bottoming out, after a steep, long decline.
To read the about the 10 newsworthy signs that signal the worst may be behind us, CLICK HERE
Thank you for visiting Why 6 Percent. We have provided the power of the MLS to home sellers for years. We can help you sell your home, too. Visit the website or call 1-800-381-9496 to reach 10 million home buyers each and every month!!!
Goverment to Assist in Short Sales to Avoid Foreclosures
On Thursday, the government announced two programs that may help thousands of homeowners, that are sinking in debt, avoid foreclosure.
The new program increases the odds of closing a short sale by streamlining the process and offering incentives to lenders for participation. The program is designed for homeowners who are eligible for a loan modification, but can not qualify for one.
Under the new program, lenders may receive compensation up to $1000 for completing a short sale. Borrower’s may receive up to $1500 for relocation expenses. Holders of 2nd mortgages will receive up to $1000, if they agree to the terms of a short sale. Read More
Thank you for visiting Why 6 Percent. If you are serious about selling your home, we are here to assist you with a listing on your local MLS, Realtor.com and dozens of real estate websites with the click of your mouse.
Why Do Homeowners Choose to Sell a Home “As Is”?
An “as is” sale in real estate terms means that the seller is unwilling to pay for any repairs to the property. However, seller’s MUST disclose all known defects or problems to their prospective buyer.
The first kind of seller that opts for “AS IS” home sales are taxing authorities and lenders. Nearly all distressed sales, such as, Foreclosures, tax sales, short sales and bank owned real estate are sold “AS IS”, because lenders are not in the home improvement business. Lenders also have their hands tied when it comes to making representations about the condition of the property at the time of sale, since they have never occupied the property. 
Homeowners are the second type of seller’s that often elect to sell property “As Is” for a variety of reasons. Sometimes, they live a long distance from the property; they don’t want the inconvenience; they can’t afford it; or, the property will likely be torn down or completely remodeled by the buyer.
As a general rule, “As Is” properties need a lot of work and they are priced below the market. If you are selling a property “As Is” you should discount the property to compensate for its condition; disclose all known defects to the buyer; and, expect low ball offers.
Thank you for visiting Why6Percent.com, your online home marketing source. For more information about listing your home by owner on the MLS, call 1-800-381-9496.
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