by Jay Zenner on December 23, 2009
Selling a client’s home often doesn’t follow a recipe
To me the concept of the “marketing mix” has always conjured up an image of a mixing bowl where a bunch of different ingredients are combined to produce something tasty. The problem with that analogy is that it implies that when you follow the recipe things will [...]
by All Georgia Realty on December 23, 2009
A Very popular and prestige golf course and club community, located in Alpharetta, is sceduled to auction the golf course, clubhouse, and club facilities on January 5th 2010. The more than 700 residences are said not to be affected, but I am sure there is such a buzz in the community of Country Club Of [...]
by Shashank Shekhar on December 23, 2009
FHA delays HVCC for Santa Clara County Home Loans until February 15, 2010. This was originally planned for a January 1, 2010 implementation. But, FHA announced today that the enactment of Appraiser Independence has been delayed.
Since implementation of the Home Valuation Code of Conduct (HVCC) for conventional loans in May 2009, many challenges and difficulties with appraisals have [...]
by Brian Madigan LL.B. on December 22, 2009
No Housing Bubble in Canada
By Brian Madigan LL.B.
According to the federal Minister of Finance, there’s no housing bubble in Canada.
However, Jim Flaherty pledged quick action from the feds if there were.
Flaherty, being interviewed on 21 December 2009 indicated that recent price increases for homes in Canada were due to a confluence of factors including:
• low [...]
December 20, 2009
This is the year that Goals are
NON-NEGOTIABLE
I say that as one that has routinely set goals and initially followed them but ended up short of the mark. I have spent time thinking about the “WHY” behind that thought. I have many times said, it’s not my fault, it’s out of my control, or someone [...]
Read the full article →
December 18, 2009
Fannie Mae and Freddie Mac will suspend foreclosure evictions from December 19, 2009 through January 3, 2010. To help struggling families over the holidays, both owner-occupants and tenants living in properties foreclosed upon by Fannie Mae will not be evicted. Freddie Mac’s suspension of evictions will be limited to properties up to four units.
In a [...]
Read the full article →
December 18, 2009
Sometimes buyers are not allowed to view a Dallas foreclosure home before making an offer. The problem with buying a house sight unseen is that you can’t determine how much it will cost to repair the home or bring it up to code. You also don’t know if the occupant will retaliate and destroy and steal fixtures from the home.
Read the full article →
December 18, 2009
A short sale is a transaction where a seller sells the property for less that what was owed. Short sale is increasingly becoming a common option to sell a house in Santa Clara and rest of the Bay area. If you went through a short sale you could have this question – Do I now [...]
Read the full article →
December 17, 2009
There are lots of savvy Dallas homebuyers who want to hit the jackpot by buying a Dallas Foreclosure because they believe that many of these homes are under priced. When banks price their foreclosed and REOs (real estate owned) homes under the comparable home sales they often receive multiple offers. This means that you could [...]
Read the full article →
December 17, 2009
The Federal Reserve today announced it will maintain its target for the federal funds rate in the 0 percent to 0.25 percent range, and expects economic conditions to warrant exceptionally low levels of the federal funds rate for an extended period of time. “Information suggests that economic activity has continued to pick up and that [...]
Read the full article →
December 16, 2009
When I decided to get into the Property Management business earlier this year, I did as much research as I could to make sure this was a good business move for me. The only problem was, I couldn’t find many good sites that had information on property management, landlords or tenants all on one site. [...]
Read the full article →
December 14, 2009
Seller’s Obligation to Disclose in Ontario Real Estate Transactions
By Brian Madigan LL.B.
The general rule of law in Ontario concerning the purchase of land is that of “caveat emptor”, or as translated from Latin “let the buyer beware.”
At common law, this principle stood for the proposition that when the buyer had
required no warranty he took the [...]
Read the full article →
December 14, 2009
Although most Americans say they want to respect the customs of the countries they visit, a survey by the travel website Vayama found that more than half of travelers (54 percent) stick to U.S. customs when traveling abroad, and nearly half (47 percent) did something when traveling outside the U.S. that they later learned was [...]
Read the full article →
December 12, 2009
Americans talk about being environmentally conscious and reducing our carbon footprints. But how does the United States stack up compared to the rest of the world? Although different surveys and studies give varied results, European and South American countries typically rank at the top of the eco-friendly list.
In one study, Yale University conducted an EPI [...]
Read the full article →
December 12, 2009
The recently expanded Federal tax credit program, extended for a limited time, combined with historically low interest rates, and large price reductions in Irvine homes an condos, makes now a great time to buy a home in Irvine.
The existing Federal government tax credit program of up to $8,000 for first time homebuyers has been extended [...]
Read the full article →
December 10, 2009
Subscribe
Been out looking at started homes? Finding out that the nicer, lower priced, homes are getting so many offers, its hard for you too get your offers accepted?
Well there is a FHA loan called a 203K that will allow you to get money to fix up a fixer. You know, the homes where you go [...]
Read the full article →
December 10, 2009
Can a Tree help you sell your Plano home? Believe it or not, yes. The American Nursery & Landscape Association says that improved landscape quality and tree coverage has a positive impact on the price of single-family homes.
Read the full article →
December 9, 2009
I noticed an article through Reuters reporting, Treasury sets guidance to simplify “short sales”. The HAMP website released “Supplemental Directive 09-09” which is the new guidelines for servicers doing short sales (HAFA details here – HAFA means Home Affordable Foreclosure Alternatives).
Short sale agents and distressed home sellers have been waiting for these guidelines [...]
Read the full article →
December 9, 2009
Two Versions of Disputed Contract
By Brian Madigan LL.B.
There were actually two separate versions of a contract between Rogers and Aliant, one in English and the other in French.
The CRTC ruled in favour of Aliant several years ago, applying the rules of English grammar. A comma made all the difference when it came to deciding when [...]
Read the full article →
December 9, 2009
Are you considering a career in the real estate field? Real estate is a vast industry with opportunities in many different arenas. However, what are the benefits of becoming a real estate broker or a real estate agent? Or an appraiser or property manager? What are the differences between the mentioned job descriptions? Real estate [...]
Read the full article →
December 9, 2009
Back in March 2009 I made the decision to open the property management division for our real estate company, North American Realty of Nevada in Las Vegas. I was hoping to have everything we needed in place by May 2009 so that didn’t give me much time. Not only did I have to get my [...]
Read the full article →
December 8, 2009
I read a blog about door knocking for short sales and many said they wouldn’t do it! Agents went on to say it was old school, it was not with the times, and it was rude? Hey….If you don’t knock, who will answer.
This takes me to discussions about short sales and talk of an extremely [...]
Read the full article →
December 8, 2009
Paying Attention to Punctuation in Real Estate
By Brian Madigan LL.B.
If you were to audit a first year university course the day before an exam, one of the first questions you’d hear would be “does spelling count”, closely followed by “what about punctuation”? Sadly, the too frequent response is “don’t worry about it”, and that probably [...]
Read the full article →
December 6, 2009
The High Cost of Justice
By Brian Madigan LL.B.
Recently, a non-competition clause was under discussion. An insurance agent left the company and went to another. The first employer was annoyed and decided to sue.
The case occupied about 14 days of Court time. The trial was 12 days, the appeal was one day, and a discussion about [...]
Read the full article →
December 6, 2009
Updating Bathrooms
After kitchens, bathrooms are a home buyer’s biggest concern. The good news here is that bathroom renovations typically realize a homeowner an 80-90% return on their investment. For a small space, $1,000 can go a long way to helping you boost your home’s value.
In addition to tiling the floor, you could upgrade the vanity [...]
Read the full article →
December 5, 2009
Effective January 1, 2010, HUD is requiring loan originators provide borrowers with a Standard Good Faith Estimate (GFE) that clearly discloses key loan terms and closing costs and that closing agents provide borrowers with a revised HUD-1 Settlement Statement.
There are three main areas of regulation and updates that mortgage brokers have to pay attention to [...]
Read the full article →
December 4, 2009
ORES Real Estate Index for November 2009
By Brian Madigan LL.B.
Here is the “ORES REAL ESTATE INDEX” which tracks the average resale prices of single family homes and condominiums in the Greater Toronto Area (GTA). It also tracks certain benchmark comparisons such as the price of oil and gold, as well as the Consumer Price Index.
In [...]
Read the full article →
December 3, 2009
CNBC recently reported that 1/3rd of all Homeowners nationwide have more mortgage debt than their home is worth… otherwise known as being upside down on their mortgage. Other local reports have estimated that more than 33% of Orange County homeowners are upside down on their homes as well. In Las Vegas the picture is much bleaker, in [...]
Read the full article →
December 2, 2009
What The USDA Rural Development Underwriter Looks For When You Apply… Part 1
This is a three part series where we will look at the 3 factors that a USDA Rural Development underwriter will look at when reviewing your file for loan approval. If you have questions that are not addressed here specific to USDA Rural [...]
Read the full article →
December 1, 2009
The Federal Housing Administration has issued the loan limits on forward and reverse mortgages for 2010. These limits will take effect January 1 and apply to all loans approved through Dec. 31, 2010.
In low-cost parts of the country, the loan limit will be:
$271,050 for a one-unit residence
$347,000 on a two-unit
$419,400 on a three-unit, and
$521,250 on [...]
Read the full article →
November 30, 2009
Subscribe
In the last year with the help of the tax credit, there has been a rise in first time home buyers. The National Association of Realtors says the percentage of first time buyer is up to 47% in 2009 compared to 41% in 2008 and 36% in 2006.
The unemployment rate is close to peaking and [...]
Read the full article →
November 28, 2009
Everyone Has a Will
By Brian Madigan LL.B.
Everyone has a Will. The problem is that most people don’t know where it is. They have never seen it, they never signed it and they don’t know what it says.
The Ontario Government has written out a generic Will for everyone. It’s set out in the Succession Law Reform [...]
Read the full article →
November 28, 2009
According to the National Association of Realtors, the kitchen is the single most important room for most prospective home buyers. If you don’t have the funds to do a complete kitchen overhaul, don’t despair. For just $1,000 you can make some significant changes that will have home buyers doing a double-take, such as:
Re-facing or refinishing [...]
Read the full article →
November 27, 2009
There was a small business lending forum where bankers could talk to the Treasury department about ideas to ease the credit crunch.
Read the full article →
November 26, 2009
The Detroit News published an article about the sale of the Pontiac Silverdome. The silver dome was the former home of the Detroit Lions which cost 55.7 million to build in 1975. Just recently the 80,300 seat indoor stadium sold for for $583,000 nearly 1 percent of what the original cost of building it [...]
Read the full article →
November 25, 2009
Solicitor’s Opinion: The Gold Standard
By Brian Madigan LL.B.
When it comes to conveyancing practice, the solicitor’s opinion is the gold standard, not a title insurance policy.
Let’s have a look at the policy and determine where it fits in.
First, it is an insurance policy. Historically, insurance has been against the law because it is akin to gambling, [...]
Read the full article →
November 24, 2009
Almost everywhere, whether it is explicitly required or simply the practice, real estate agents represent either the buyer or the seller in a transaction. Although there are many common elements of the real estate transaction that all agents must understand thoroughly, the services that listing agents provide their clients and the optimal ways for them [...]
Read the full article →
|
