Archive | March 2012
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Low-ball appraisal: Mortgage denied
NEW YORK (CNNMoney) — You find the home of your dreams. You’re pre-approved for a mortgage. You’ve scheduled the closing. Then … the appraisal comes in too low and the deal blows up. Even as some mortgage standards have eased, hitting a needed appraisal value is proving a frustrating blocker for buyers and sellers and […]
Investment and vacation home sales soar in 2011
NEW YORK (CNNMoney) — Sales of investment properties and vacation homes soared last year as investors snapped up homes that were selling at beaten down prices. Homes purchased by investors skyrocketed 64.5% to 1.23 million in 2011, up from 749,000 the year before, according to the National Association of Realtors. http://ads.cnn.com/html.ng/site=cnn_money&cnn_money_position=220x200_ctr&cnn_money_rollup=real_estate&cnn_money_section=quigo&page.allowcompete=no¶ms.styles=fs&page.allowcompete=yes&tile=1333063491469&page.allowcompete=yes&domId=161982 Vacation home buyers also […]
The $26 billion crapshoot
Homeowners hoping the $26 billion foreclosure abuse settlement would mean big savings on their mortgages were mostly disappointed. Even though a million borrowers will have their principals slashed by as much as $100,000 or more, most are not eligible for a workout simply because the bank that issued their mortgages, didn’t hold their mortgages. During the housing boom years […]
New home sales dropped in February
NEW YORK (CNNMoney) — New home sales fell in February, dashing construction industry hopes that the long-overdue housing recovery may be finally arriving. The Census Bureau reported Friday that new homes sold at an annualized pace of 313,000 during the month, adjusted for seasonal factors. That was a 1.6% decline compared with January’s 318,000 sales […]
The Hegseth Home Team 