Archive for July, 2011

Prelisting Prep Works to Maximize Your ROI

Friday, July 29th, 2011

Repeat buyers, especially move-up buyers, tend to want their next home to be in great condition. Usually, when homes are located in a neighborhood that attracts those buyers, homes need to be pristine to stand out from the rest. This can be achieved in part by getting the home preinspected. Research shows that 8% of […]

This Month in Real Estate – July 2011

Thursday, July 28th, 2011

The U.S. housing market has shown increased stability in home sales during 2011 compared to the previous year. The trend has been an upward one since the expiration of the tax credit last summer. Home prices have softened, particularly earlier this year, due to a higher-than-normal number of distressed sales. However, both the percentage of […]

Did You Know? FHA Allows Bridal Registry Accounts

Tuesday, July 26th, 2011

FHA allows for couples getting married to set up a Bridal Registry Account. The intent is to give couples planning to get married the opportunity to amass monetary gifts from friends and family for the specific purpose of making the down payment on a home. Just like registering at a specialty or department store, the […]

HUD and NeighborWorks America Announce Deadline Extension for Emergency Homeowners’ Loan Program

Monday, July 25th, 2011

HUD and NeighborWorks America have extended the deadline for homeowners who have experienced a loss of income to apply for the Emergency Homeowners’ Loan Program (EHLP). The extension is provided in order to give homeowners at risk of foreclosure in the participating 27 states and Puerto Rico more time to apply for the program. Texas […]

FTC Settlement with Countrywide

Friday, July 22nd, 2011

The Federal Trade Commission (FTC), the nation’s consumer protection agency, sued Countrywide for unfair and deceptive practices in servicing the mortgages of homeowners in default or Chapter 13 bankruptcy. The settlement requires Countrywide to pay $108 million in refunds. The FTC will begin sending refunds to eligible homeowners in late July 2011. If you’re eligible, […]

Survey Reveals Significant Optimism Among Distressed Homeowners who Receive Housing Counseling

Wednesday, July 20th, 2011

A growing number of government studies show that if a homeowner in distress seeks out housing counseling, the odds of the borrower receiving a loan modification or work out plan brings better and more sustainable terms. In a news release by HPF (Homeownership Preservation Foundation), an independent national nonprofit dedicated to helping distressed homeowners navigate […]

Cedar Park Changes Watering Fines

Monday, July 18th, 2011

Cedar Park could fall into a mandatory watering schedule by Sept. 1 if current extreme drought conditions continue as expected, Utilities Program Manager Katherine Woerner said during the July 14 council meeting. The mandatory watering schedule takes effect at Stage 2 of the city’s drought contingency plan and requires watering to occur a maximum of […]

Short Sale vs. Foreclosure?

Thursday, July 14th, 2011

You make the call! I get the question from people all the time: short sale or foreclosure, which is the better option? My knee-jerk reaction is always “Are you kidding? Short sale, of course!” This has been mostly because I was always under the impression that a short sale, although still a ding on your […]

Bank of America Overhauls Equator System, Accepts Back Up Offers

Wednesday, July 13th, 2011

The short sale process can be lengthy and complex. Unforeseen changes may occur during this process that would prompt you to submit a backup offer to replace the original short sale offer on the property. This could occur if: •The original buyer walked out during the process, but you have a backup offer ready to […]

June MLS Stats – Austin

Tuesday, July 12th, 2011

The latest stats continue to show small gains on list price & sold price in the Austin area, up 2.5% & 0.5% when compared to the same time last year. The volume of sold listing are too about the same when compared to last year, and remember last year at this time we were just […]