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Rapidly Diminishing REO Foreclosure Sales

Originally posted on BEN LeBRUN:

by Lawrence Yun, PhD., Chief Economist and Senior Vice President, NAR

  • The number of foreclosed home sales has been rapidly falling and could essentially vanish by next year.  Those who specialize in foreclosure sales should therefore look towards other line of business.
  • In August, foreclosed sales comprised only 6 percent of all home sales transactions, down from double-digit figures last year and from near 30 percent few years further back.
  • In addition to fewer distressed properties on the market currently, there is very little in the pipeline.  The number of foreclosure starts is essentially back-to-normal with only 0.4 percent of mortgages undergoing that process.  Moreover, mortgages originated in the past four years are one of the best performing with very little defaults.
  • We should nonetheless be mindful that the overall count of seriously delinquent mortgages and those homes in some stage of foreclosure process are still above historical normal…

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Speak Now or…

Originally posted on Eliot Neighborhood:

Map App

Comprehensive Plan Map App

The second Draft Comprehensive (Comp) Plan is out for review. As noted in previous columns, the State requires Portland to prepare a 20-year plan to accommodate expected future growth. The current Comp Plan was adopted in 1993 and is showing its age. The Draft Plan is expected to be adopted by City Council next summer. City planners are accepting comments on the plan through the end of October and a discussion of the Plan will be part of the General Membership meeting October 13th. This will be your best chance to comment before the final plan. Two public hearings are scheduled in October (the 14th and 28th), and comments can be submitted anytime using the “Map App” and other links on the Comp Plan web site.

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Green bonds: Diversifying funding options for commercial real estate

Originally posted on Quick Look blog:

Payments for Distribution in GuisePosted by Saurabh Mahajan, Assistant Manager, Real Estate, Deloitte Center for Financial Services, Deloitte Services LP, on September 10, 2014

Sustainability has progressively become a key business issue for commercial real estate (CRE) players, one that impacts short-term profitability and long-term value, and requires CRE companies to consciously invest in implementing green features. Gradually, CRE companies are appropriating more funds to meet their sustainability targets, with most companies currently funding their sustainability investments through traditional sources, such as banks and life companies.

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That Fixer Upper Needs a FHA 203K-Loan Now!!

Originally posted on :

Think about a 203K Loan for that Fixer Upper

I get a real creativity buzz from seeing homes that need a “facelift” if you will. Fortunately, the Washington, DC area is filled with homes that need some form of updating whether big or small. For some properties, you may have to compete with developers who have cash to close the deal in a third of the time it would take for a conventional loan to close. For other properties that may need some renovations but the asking price does not yield a high enough profit for developers, the FHA 203K loan program may be the best option for you.

FHA’s 203K-loan program is designed to finance both the acquisition cost and renovation expenses conveniently in one loan. This loan product gives you the opportunity to make that fixer-upper your dream home!

Here are some general facts about 203K loans:

  • FHA…

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Interest Penalty On FHA Loans Eliminated

Originally posted on The Daily Lending Patriot:

Recently, the Federal Housing Administration announced that they are halting the policy of allowing lenders to collect interest to the end of the month when the homeowner’s FHA mortgage is paid off. Beginning in January of 2015, lenders will be able to collect interest until the day the loan is paid off.

However, it should be noted that for the millions of homeowners who currently have home loans insured through FHA, there is no change in policy. The new policy will affect only those who obtain new FHA loans in January of 2015.

What Does This Mean For Present Homeowners?

It is important to time refinances and sales of houses to allow time to get the payoff to the present lender before the end of the month. Otherwise, the homeowner could owe a full month of extra interest.

The worst time to close on a real estate transaction is the last…

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Children’s Locker Storage

Originally posted on The Zen of Zada:

childrens lockers living ho.me

It is amazing all the items you need to get the children off and ready for school each day. Do they have their coats, hats, shoes, backpacks, and books?  Do they have some sports event or practice later in the day that requires a uniform or sporting equipment?  The constant worry of does my child have everything they need for the day is consistent if the family is not organized. A way to get organized is by creating locker storage for your children.

When creating this storage area is it important to remember what your child needs in order to seamlessly get off to school everyday.  Some key areas to consider are:

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