Commercial real estate loans are very difficult to obtain. The lack of government backing (outside of multifamily mortgages) and a higher capital charge on office, retail, industrial, and other commercial real estate-related mortgages have severely … [Read more...]
GSEs to raise mortgage fees later this year
Fannie Mae and Freddie Mac will raise their single-family-mortgage guarantee fees by an average of 10 basis points — aka, 1/10 of a percent — by the end of the year. So called g-fees are essentially insurance against borrower defaults. … [Read more...]
CoreLogic: Home prices rose 3.8% nationally in July
CoreLogic is reporting that its July home price index was up 3.8 percent from July 2011 — that’s the biggest increase since 2006, and July is the fifth consecutive month with an increase. So good news there. This is interesting: When you … [Read more...]
Pending Contracts Up Over 12%
Last week the National Association of Realtors (NAR) released their Pending Home Sales Index. The Index, a forward-looking indicator based on contract signings (not closings), rose 2.4 percent to 101.7 in July up 12.4 percent above July last year. … [Read more...]
Distressed Sales Continued to Decline in Market Share
According to the July REALTORS® Confidence Index report (RCI), twenty-four percent of respondents reported selling distressed property (foreclosed and short sales), lower than last year’s figure of 31 percent. Cash sales accounted for 39 percent of … [Read more...]
The Art of Telling Your Clients that Their Perfect Home Ain’t So Perfect
By Myra Nourmand One person’s junk is another’s treasure. After doing your preliminary walk through, you realize that your client’s home needs help. On the one hand, you want to say, “Toss those magazines in the recycle bin, and while you’re at it … [Read more...]
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