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April sales top March, continue resurgence in real estate market
Property sales in April in the Sarasota market hit the highest total in almost five years, while pending sales were the highest in four years, likely fueled by the expiration of the homebuyer tax credit on April 30. Median sale prices continued the steady pace reflected in recent months.
The 757 sales exceeded the March 2010 [...]
Walking away from your upside down mortage is going Viral!
In a recent 60 Minutes segment on the mortgage crisis, http://www.cbsnews.com/video/watch/?id=6470184n, the host did a good job balancing the morality of walking away with the financial considerations. The bottom line is that it is the right choice from a financial standpoint, and as more and more people walk, it becomes more fashionable to do. Tarpon [...]
Homebuyer Tax Credit draws to a Close
Any home purchased as your principal residence and located in the United States qualifies. You must buy the home after April 8, 2008, and before May 1, 2010 (with closing to take place before July 1), to qualify for the credit. For a home that you construct, the purchase date is considered to be the [...]
Florida 90-Day Delinquency Rate Hits 19.39 Percent, US Rate is 8.78 Percent
Florida remains ground zero of the housing bust with an amazing 19.39% delinquency rate. The Tampa Bay area has a delinquency rate of 17%.
The St. Petersburg Times has the details in Nearly 17 percent of Tampa homeowners three months behind on mortgage.
Nearly 17 percent of Tampa Bay homeowners haven’t paid their mortgages for at least [...]
TransUnion: Mortgage Delinquencies at All Time High
From TransUnion: TransUnion Finds National Mortgage Delinquencies Jumped 10.24 Percent at End of 2009 (ht jb)
TransUnion’s quarterly analysis of trends in the mortgage industry found that mortgage loan delinquency (the ratio of borrowers 60 or more days past due) increased for the 12th straight quarter, hitting an all-time national average high of 6.89 percent for [...]
New wave of foreclosures by end of 2010 is feared
2010: The Year of the Short Sale
April 4th
As of today, the government is now incentivizing both lenders and borrowers to complete short sales. With a $3000 Relocation allowance for an approved short seller, there is significant reason for sellers to now get cleanly out from under their upside down mortgage. Tarpon Coast Realty is well positioned to help sellers negotiate with the banks and match them with buyers. Call Tarpon Coast Realty [...]
Giant bank, giant struggle
Foreclosure-assistance pipeline clogged for Bank of America NEW YORK – March 5, 2010 –Two years after swallowing the troubled mortgage giant Countrywide Financial, Bank of America trails other major U.S. lenders in resolving troubled home loans through short sales or modified loan terms. The lender, one of the nation’s biggest banks, holds more than a [...]
The Short Sale Process is Unbelievable!
When describing the absurdity of the short sale process, I can only say that you would not believe how bad it really is unless you experience it first hand. Negotiating a short sale requires patience and tenacity. It really seems sometimes that banks have little to no interest in actually getting it done. Tarpon Coast Realty negotiates [...]
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