July brought a 23% slide in home sales according to a San Diego-based real estate firm’s report. This came as a result of the withdrawal of the federal home buyer tax credit. However, the slide didn’t come as a surprise for the industry, as the federal assistance for first time home buyers started to wind [...]
Mortgage giant Fannie Mae is testing a program to pre-approve short sales in Phoenix and Orlando, two of the areas hardest hit by foreclosures. The goal is to expedite the often difficult short-sale process by Fannie Mae agreeing on a sales price for a home on the brink of foreclosure and the loss it will [...]
It is a common practice that Realtors are facilitating the short sale transactions with the lenders. It is also well known that this is a quite time consuming effort and can easily de-focus the agents and brokers from their core business. In the mean time it is less obvious that the realtors have a fundamentally voulanrable role [...]
Studies and forecasts show that short sales expected to be 20-40% of the real estate transactions in the upcoming year. Who will be facilitating most of these sales? No question the REALTORS. The legality and the logistics of this transactions are often becoming a jungle not only for agents and brokers, but also to the employees of the lenders, not [...]
