Since the credit crunch hit about two years ago, many lenders have all but abandoned jumbos, which are too big for secondary mortgage market companies Fannie Mae and Freddie Mac to buy for packaging into securities and outside the limit of FHA. Yet with their reluctance, lenders are leaving money on the table.
A district court in Indiana ruled against a prospective buyer who fell down a flight of stairs while touring a home for sale. The customer had sued the owner and the sales associates for failing to warn her of the staircase.
The first-time home buyer tax credit is an incentive you'd expect consumers to be clamoring about. But many practitioners are astounded to learn that buyers in their markets who are prime candidates for the credit aren't even aware of it.
Given the growing share of the market distressed sales represent, it might be just a matter of time before you must get involved with short sales and REOs. Yet these and other complications make clear that it’s a market segment you want to enter into only with your eyes wide open.
With some 50,000 units available for sale and prices down 50 percent from their peak, Adam Adache is remaking his company into a specialist that helps bring together hard-pressed developers and banks with investment groups and other bulk buyers.
The Federal Reserve in late December took the unprecedented step of lowering its short-term target interest rate essentially to zero. But more important, it made a firm commitment to provide additional support, as needed, to the housing market by continuing to purchase mortgage-backed securities.
Within hours of an announcement from the company ForSaleByOwner.com that said FSBOs could now list side-by-side with brokers on REALTOR.com, REALTORS® expressed their fury in hundreds of blog posts and letters.
Scott DeNeve thought real estate brokerages were making it too hard for sales associates to tailor their services to the needs of each client, so he designed a company with an innovative hands-off approach.
Eight years ago, Dennis Donahue and his business partners made a prediction: Downtown living would become huge, and real estate companies that focused specifically on the niche would prosper. The gamble paid off.