http://www.jhxg.com Mon, 23 Aug 2010 04:14:07 +0000 http://backend.userland.com/rss092 Article Summary: Jhxg.com Real Estate Blog provide guides of real estate, Home buying and selling, foreclosures, home loans, HELOC, home research, investment properties, and more.Tweet At Estately, we wondered why no one had covered how the Greek debt crisis affected Americans. We decided that an illustration might be the best way to make what is a very complex economic story easy to digest. The take away is that the Greek debt crisis has saved US homebuyers Article Content: Tweet At Estately, we wondered why no one had covered how the Greek debt crisis affected Americans. We decided that an illustration might be the best way to make what is a very complex economic story easy to digest. The take away is that the Greek debt crisis has saved US homebuyers an immense amount of money: the average person buying a home will save ,000 over the first 10 years of a 30 year loan versus what they would have spent before the crisis. Taken as a whole, people who bought homes since the crisis began will save over billion over the first 10 years of owning their homes. --------------------- http://www.jhxg.com/real-estate-propertieshow-the-greek-debt-crisis-saved-americans-billion-2.html Article Summary: Jhxg.com Real Estate Blog provide guides of real estate, Home buying and selling, foreclosures, home loans, HELOC, home research, investment properties, and more.The federal government needs an exit from the housing market, even as it tries to also tackle long-term unemployment, financial reform, and growing fears of deflation. The sale of new homes has lagged ... Article Content: The federal government needs an exit from the housing market, even as it tries to also tackle long-term unemployment, financial reform, and growing fears of deflation. The sale of new homes has lagged since April, when the first-time home buyer’s tax credit expired. Now taxpayers are on the hook for 8 billion for propping up Fannie Mae and Freddie Mac, the for-profit mortgage companies the federal government took over in September 2008, and, according to new data from ProPublica, only 30 percent of the 1.3 million homeowners who applied for mortgage modifications to stave off foreclosure have received them, thanks to service problems and bureaucracy. “The government is sitting at the Texas Hold ‘Em tables, and they’ve gone all in,” says Karl Case, a housing economist and cofounder of the S&P/Case-Shiller Home Price Index. Can the government worm its way out of this mess? A group of Treasury officials, economists, mortgage-company executives, and bankers will gather in Washington on Tuesday to talk about the ways they can tackle the big policy questions surrounding housing finance. NEWSWEEK informally polled a few economists and academics to pinpoint the five basic questions the group needs to ask. 1. How involved should the government really be in the housing market? Between Fannie Mae, Freddie Mac, and the Federal Housing Authority, the federal government now controls about 90 percent of the U.S. mortgage market. Even the most vocal big-government proponent agrees that’s too large a share. The government intervened in Freddie Mac and Fannie Mae because, as private entities, they failed. But in the long run, what should these mortgage companies look like? Should they be private entities run like utility companies with the government providing catastrophic insurance? That’s what Tom Lawler, former chief economist of Fannie Mae, asks. Should the government ensure the mortgage-backed security rather than the mortgage itself? That question is from Laurie Goodman, an Amherst Securities Group analyst. And if the government is so involved in the housing market and may be for the next two to three years, shouldn’t it be careful about regulating it and who it lends money to? 2. What should be required of people if they’re going to buy a house? This is a great time to buy a house, provided you’re employed, have great credit, and are willing to make a nice down payment. “The No. 1 question now is whether people are willing to go through the full monty in terms of disclosing assets to get a mortgage,” says Lawler. But those who are willing to submit to increased scrutiny can receive a 30-year mortgage at an interest rate as low as 4 percent. So, while the home buyer with poor credit, a small income, or no down payment may be out of luck, the more conservative home buyer with savings and an income proportional to the mortgage debt is in luck. Is this what we want the requirements to look like moving forward, and how will we regulate them? 3. Should the government put a limit on the size of the mortgage it’s willing to insure? The government is on the hook for 90 percent of the mortgages in this country, including loans of up to 0,000 that the Federal Housing Administration insures. “It’s hard to say that’s a program for low-income to moderate-income people,” says Dean Baker, codirector of the Center for Economic and Policy Research. Is there a way for the government to cap its insurance on mortgages—similar to the way the FDIC caps the amount of bank deposits it’s willing to insure? 4. What should the future of homeownership look like? One of President George W. Bush’s legacies was the “homeownership” society that encouraged Americans to purchase homes. That same vision may look much different in the future, if the government regulates the mortgage market more closely or proposes stronger lending requirements. Will everyone feel compelled to own a home as part of the American Dream? Will homeownership become something that only upper-middle-class families can afford, particularly in major metropolitan areas? Or will homeownership lose some of its luster, thanks to the foreclosure crisis, or to the fact that homes are now worth less than their purchase price? Will renting seem more attractive, since it also provides people with mobility—the chance to relocate for work or other personal matters? 5. Finally, do housing conferences accomplish anything? The Obama administration sponsored a jobs summit, similar to this housing conference, in November 2009, which was largely mocked for its uselessness. It too gathered together prominent thinkers and business leaders to mull job creation. Months later, the national employment rate still stands at 9.5 percent. Is it even worthwhile to talk about the ways the government can and should extricate itself from the housing market when the economy remains so fragile and that possibility is a few years off? “Nothing will happen on reform for years,” Goodman says. “The conference is a big blah, blah, blah.” Source: Newsweek.         --------------------- http://www.jhxg.com/all-real-estatethe-future-of-fannie-and-freddie-is-the-future-of-housing.html Article Summary: Real estate blog with information on the housing market, real estate investment, mortgages, helpful hints, the real estate market, and much more.What will happen next for housing? Michael Carliner doesn’t see a rapid or large housing recovery…..         Article Content: What will happen next for housing? Michael Carliner doesn’t see a rapid or large housing recovery…..         --------------------- http://www.jhxg.com/real-estate-propertieswhen-will-it-be-a-good-time-to-buy-a-home-again-2011-real-estate-predictions.html Article Summary: Everyone has questions about real estate whether they're renting, leasing, buying, selling, financing, trying to manage debt, improve credit scores or investing. There are so many situations we don't even think of them until we are affected.Here is a big surprise (not)…the mortgage servicers have NO regulation….no accountability. Most large servicers in Texas are regulated…the smaller ‘non-banks’ can do more or less what they want how they want. Watch this video about ... Article Content: Here is a big surprise (not)…the mortgage servicers have NO regulation….no accountability. Most large servicers in Texas are regulated…the smaller ‘non-banks’ can do more or less what they want how they want. Watch this video about Texas homeowners who are having serious issues with American Home Mortgage.         --------------------- http://www.jhxg.com/real-estate-onlinecrack-down-on-mortagage-servicers-coming.html Article Summary: Everyone has questions about real estate whether they're renting, leasing, buying, selling, financing, trying to manage debt, improve credit scores or investing. There are so many situations we don't even think of them until we are affected. Great video that more or less details what is happening next for housing. This is in perfect alignment with everything we have been predicting for nearly 2 years. HREU students, nothing in this video ... Article Content: Great video that more or less details what is happening next for housing. This is in perfect alignment with everything we have been predicting for nearly 2 years. HREU students, nothing in this video should be a surprise for you…we have been preparing you for this late 2010..into 2011 slow down. Now, stay focused and apply what you are learning. Summary of this video: * Slowest summer selling season…ever. * Some bail out money for jobless homeowners. * Competition for bank controlled…government backed…housing is killing new construction. (Agents, we all work for the banks and the government now) * Housing will be underwater for year….24% of all homeowners underwater and there is every reason to believe that will only worsen. Prediction: there will be a national underwater homeowner negative equity wipe out program in acted within the next 24 months…or sooner.         --------------------- http://www.jhxg.com/residential-real-estatehousing-what-will-happen-next-2011-housing-market-predictions.html Article Summary: It's our mission to provide a bird's eye view on how the new transparency will change the real estate game for the benefit of society. We focus on business strategy, new business models, technology and innovative real estate marketing for the real estate community.Congratulations to Harris Real Estate University students who have become co-authors of our ‘Should I Short Sale My Home?’ book. Many of you have used your status as an author to gain local celebrity status and ... Article Content: Congratulations to Harris Real Estate University students who have become co-authors of our ‘Should I Short Sale My Home?’ book. Many of you have used your status as an author to gain local celebrity status and your markets short sale expert. If you Google “Should I Short Sale My Home?” you will discover dozens of agents who have become our co-authors. Best part of this ….the total cost for you to become our co-author is only ! Check out the video we made for you that will clearly explain what you can do to become our co-author: Should I Short Sale My Home Book video. Remember, we only allow one co-author per zip code. You ‘own’ that zip code for 12 months and will renew every year. If you are currently a co-author renew your zip codes asap…and download the newest short sale book files an book cover re-design.         --------------------- http://www.jhxg.com/real-estate-housesbecome-our-co-author-%e2%80%9cshould-i-short-sale-my-home%e2%80%9d.html Article Summary: Real estate blog with information on the housing market, real estate investment, mortgages, helpful hints, the real estate market, and much more. Realtors, join us this week for the FREE Emergency Short Sale Webinar (or teleconference). Everything is changing (again) about short sales. Thanks to the NAR’s HAFA Guidelines the servicers are finally making significant moves ... Article Content: Realtors, join us this week for the FREE Emergency Short Sale Webinar (or teleconference). Everything is changing (again) about short sales. Thanks to the NAR’s HAFA Guidelines the servicers are finally making significant moves to truly streamline the short sale process. Note: This is an advanced short sale training call. Be ready to take pages of great action oriented notes. EVENT: ASD, Accredited Short Sale Designation DATE & TIME: Thursday, August 19th at 12:00pm Pacific FORMAT: Simulcast! (Attend via Phone or Webcast — it’s your choice) TO ATTEND THIS EVENT, CLICK THIS LINK NOW… http://AttendThisEvent.com/?eventid=14385639 One of the topics for this weeks FREE Short Sale Webinar (or teleconference) will be Chase’s new ‘List Assist’ short sale program. A few months ago Chase Bank opened the doors for their ‘List Assist’ program…if you missed it, here are the details. Required forms from Realtor and Seller: * Listing Agreement * 2 Months Bank Statements * Pay Stubs (income verification if the owner has a job etc) * 2 Years tax returns. * NO Hardship letter etc. * NO Deficiency Judgment (or threat) * 00 at closing for the Seller. * 7-10 day answer if its a Fannie/ Freddie loan. Like HAFA and the new Bank of America High Performance Out Reach, Cooperative Short Sale program the Chase List Assist is a clear sign that lenders are doing everything to stream line the short sale process. Read about the Bank of America program HERE. Contact info: Chase has launched a call center full dedicated to help borrower who have list their home for sale and anyone trying to start the short sale process.  The numbers for our List Assist center are: Chase List Assist Securitized  List Assist Direct Dial              866-233-5320 EMC List Assist EMC List Assist Direct Dial                       866-483-0153 Call 1-800-848-9136 or 877-838-1882 or 866-265-6459 ext 53343 (for California) Fax Short Sale 1-602-680-1142 or 866-220-4130 Alternate Short Sale Fax: 866-958-0140 *** Executive Resolution Group for Chase, 866-605-9253 888-310-7995 (Executive office for Chase) Hint: If you need the direct Number for your Loss Mitigator (Prime Loans Only), just use their extension as the last 5 digits of the number below: Phone Direct: 858-60x-xxxx Example: - Phone 800-388-8888 x12345 - becomes>> 888-111-2345 Letter of Authorization fax 614-422-7912 or 888-249-1593 Email format Firstname.Lastname@chase.com Mail packages to Chase 3415 Vision Drive, Columbus OH 43219 Listing and selling agents must sign under their typed names in the purchase contract. https://www.chase.com/chf/mortgage/keeping-your-home WAMU (Now CHASE) missing document Fax 206-494-4666 Walk Department (before charge-offs) 866-346-6132 Recovery Department (more than 120 days past due, charged off) 877-836-3040         --------------------- http://www.jhxg.com/real-estate-propertieschase-bank-list-assist-short-sale-program-realtor-short-sale-designation.html Article Summary: Real estate blog with information on the housing market, real estate investment, mortgages, helpful hints, the real estate market, and much more.The days of summer are in here and while it’s easy to just think about fun vacations and time at the lake, it’s important not to forget your house either. The summer is a great time to prepare your home for the harsh Winter weather or to inspect the saftey of things around Article Content: The days of summer are in here and while it’s easy to just think about fun vacations and time at the lake, it’s important not to forget your house either. The summer is a great time to prepare your home for the harsh Winter weather or to inspect the saftey of things around the house without having to worry about the weather while you do it. Below are some outdoor tips to help you get ahead: Think ahead to fall. Schedule furnace maintenance now and beat the seasonal rush. Many companies even offer discounts in the off season Pest patrol: inspect yard and garden for carpenter ants or termites. Call an exterminator if you see signs of infestation. Beware of fire ants in the South! If you see telltale mounds, treat with grits or borax. Keep borax away from children. Keep tabs on decks, siding and trim. Will you need to perform touch-up work before winter? Order paint and be ready for the first cooler days of early autumn. Control garbage can odor with a can clean-out. Rinse garbage cans with a hose, dump the water, then spray with disinfectant. Let the cans sit for 10 minutes, then rinse again. Turn upside down to dry. Inspect gutters, and clean out any leafy debris. Summer thunderstorms won’t faze you if your gutters are in good working order. Make a safety inspection of children’s outdoor play equipment. Tighten loose bolts and cover with plastic protectors. --------------------- http://www.jhxg.com/real-estate-propertiesoutdoor-summer-home-tips.html Article Summary: Everyone has questions about real estate whether they're renting, leasing, buying, selling, financing, trying to manage debt, improve credit scores or investing. There are so many situations we don't even think of them until we are affected.Every week we track the number of homes on the market that have offers on them and those that do not and create a ratio we call Pending Ratios. As of Saturday July 24th , the pending ratio in Bellingham was 16% . Pending is the time frame between when an offer has been mutual accepted [...] Article Content: Every week we track the number of homes on the market that have offers on them and those that do not and create a ratio we call Pending Ratios. As of Saturday July 24th , the pending ratio in Bellingham was 16% . Pending is the time frame between when an offer has been mutual accepted between the buyer’s and the seller’s of the home and when the title actually transfers hands. This give the buyer’s time to get the financing, do inspection, review the title reports and more. Birch Bay had a pending ratio of 13% Ferndale has a pending ratio of 12%. The Lynden area in East Whatcom County has a pending ratio of 12% The Sudden Valley pending ratio was 17% To view a complete history of Whatcom County Pending Ratios or for other real estate statistics don’t hesitate to contact The Johnson Team at (360) 303-2734 or by email at Info@JohnsonTeamRealEstate.com --------------------- http://www.jhxg.com/residential-real-estatebellingham-real-estate-update-weekly-home-pending-ratios.html Article Summary: Real estate blog with information on the housing market, real estate investment, mortgages, helpful hints, the real estate market, and much more.This will be my shortest…and perhaps…most important blog post ever: Urgent Short Sale Training call…breaking news on Bank of America and Chase… Listen to the FREE Replay NOW: http://AttendThisEvent.com/?eventid=14385639         Article Content: This will be my shortest…and perhaps…most important blog post ever: Urgent Short Sale Training call…breaking news on Bank of America and Chase… Listen to the FREE Replay NOW: http://AttendThisEvent.com/?eventid=14385639         --------------------- http://www.jhxg.com/real-estate-housesemergency-advanced-short-sale-training-event-free-short-sale-training.html