Active Properties

The reality today is that sellers don’t want to spend big to get their house in tip-top shape for buyers. The good news is that there’s plenty they can do for free or at a very low cost.
By Melissa Dittmann Tracey | February 2011

If you are planning to put your home on the market, Melissa covers: Details – Floors – Lighting – Paint -Counters – Cabinets – Fixtures – Surfaces – Appliances, and add to this overview, ’7 Ways to Create a Cohesive Style’. An extensive, “must read” article if you are planning to put your home on the market to sell your home.

All the information can be found at:

Home Ownership and The American Dream. Despite the hit it took in teh wake of the downturn, ownership remains good for individuals and society. And, yes, Americans still long for a home of their own.
by Brian Summerfield
Extensive article article also details ‘Owning vs Renting: Tale of the Tape

All article features may be located at:

Timely article from ‘Realtor’ magazine: by Lawrence Yun, chief economist for the National Assoc of Realtors provides an economic overview of why lenders are holding back to be originating mortgage loans.

full article February 2011
details, click here:

Despite concerns about the negative long-term effects of federal stimulus efforts – including the impact they will have on the country’s huge budget deficit – the U.S. government continues to take action to help spur the economy.

However, the most effective solution for promoting growth and getting the housing market moving may rest with banks.

Residential mortgage loans that were originated in the last two years are among the best performing ever. Data from Fannie Mae and Freddie Mac show that 2009 mortgage originations have the lowest default rates in decades, with 1.2 defaults per 100 loans backed by Fannie Mae and 1.1 defaults per 100 backed by Freddie Mac. As recently as 2007 those figures were 28.7 and 22.3, respectively.
Given the strength of recent loan vintages, you’d think lenders would be jumping back into the business of making mortgage loans. But in fact they’re holding back. At a time when home sales should be around 5.5 million units, based on the country’s population, we’re forecasting only 5.2 million sales for 2011, about the same as in 2000—when the U.S. population was smaller by 27 million people.

Lenders have tightened underwriting so much that even households with solid credit backgrounds are simply not making the cut. For the past year or so, many lenders have raised minimum qualifying credit scores to as high as 640, meaning only households in the upper tiers of creditworthiness are getting conventional financing.

No one would advocate for a return to risky lending. But by simply returning to underwriting standards that are close to what has been historically normal, ¬lenders can do what the federal government is digging itself deeper into debt trying to do: spur the economy by getting responsible households back into the housing market.

There’s a debate brewing over what loans to exempt from a lender risk-retention requirement.
Article by Robert Freedman.
The article details the overview and bill for lenders to align their interests with those of borrowers and investors by retaining on their books at least 5 percent of the value of the mortgage loans they originate. With 5 percent of their own money at stake, the thinking went, lenders wouldn’t be quick to make loans that weren’t in the borrower’s interest.
Full details of the artice can be linked to: http://www.realtor.org/rmonews_and_commentary/articles/2011/1102_news_regulators

Divorce & Real Estate Part I & Part II
by Gregg A. Greenstein, Esq.

Part I covers:
- Automatic Restraining Order
- Conflicting Direction
- The Great Custody Myth
full details, click here:

Part II details:
- Access To The Residence May Be Blocked
- Divorce Should Be Kept Confidential
- You May Have to Testify In Court Solutions full details, click here:

Is it possible to buy a house while going through a divorce?

Gregg A. Greenstein, Esq outlines in his article:
- Title Issues
- Loan Qualifications
- Martial Property
For the full details on the article: click here:

Written by
Alex Veiga
Associated Press

Full details: more details, click here:

LOS ANGELES — Homebuilders are eager to rack up sales this spring, and many are offering incentives and even some price reductions.

So how best to find a good deal on a new home?

While homeowners looking to sell their property might balk at an offer that is too low and pull their home off the market, homebuilders have money invested in land and construction costs and can’t afford to just sit on the homes they build.

With a little research, anyone considering purchasing a new construction home can improve their chances of negotiating a better deal, said Michael Corbett, real estate expert and author of “Before You Buy! The Homebuyer’s Handbook for Today’s Market.”

When considering an already-built home, Corbett suggested buyers find out how long ago the home was built and how many residents are living in the development.

“The bigger the inventory, the more leverage you’re going to have,” he said. “The longer it has been on the market, the more leverage.”

Another essential step is to check the price at which comparable homes in the development sold, but ignore transactions that are more than 60 days old.

It also is important not to put too much stock in the price of other, similar homes in the development that have yet to sell — an argument one might hear from a builder’s sales representative.

“A house is only worth what it’s going to sell for, so don’t be bamboozled by a higher price on the properties that are sitting there,” Corbett said.

To structure an initial offer on a new construction home, one must weigh the recent comparable home prices, how many homes are left to be sold in the development and how long the home has been unsold.

But definitely make an offer that is below the asking price, Corbett said.

“Some buyers are timid; they don’t want to insult anyone,” he said. “In today’s market, go in a little bit lower. Unless you do, you’re never going to hit the middle ground you want to hit.”

It’s hard to say how much lower, but Corbett offered an example:

If the house is listed at $400,000, try going in at $375,000.

However, if recent comparable sales at the development have gone for $350,000, for example, then the buyer should make an offer at that level or below.

And if the development has 30 empty houses, that’s a good indicator the bid should go even lower.

“You really negotiate three times,” Corbett said. “When you make the offer, a counteroffer and after the inspection.”