Saint Clair Homes

If you’ve had to move out of your home prior to selling it you may be experiencing the frustration of selling a vacant home. It’s no surprise that the perception of a vacant home is not as upstanding as a lived-in home. With a little effort, cooperation and attention to detail your vacant home can easily look just like a lived-in home.

For suggestions go to: Realtor.org

This is one of the most common complaints that I have heard from buyers. It has even prompted buyers to ask, prior to actually looking at properties, “Are any of these bank owned?” When I answer yes – they immediately strike them off their list.

I can understand the frustration buyers feel when waiting, for what seems like forever, to close on their new home. However, if you have the time, it’s usually worth the wait simply because they’re such good deals. Why pay more for the same piece of property later when the market stabilizes.

See original article at: Realtor.org

Wow: Nothing like taking a vacation to stimulate the real estate market. This may sound like an oxymoron, but it’s true. I went on a week vacation and while I was relaxing in the sun, my trusted colleague was swamped taking care of things for me in my absence. Prior to my departure things were status quo. However, after I left, the flood gates opened. Don’t get me wrong, I’m not complaining. As in years past the real estate market has picked up now that it’s spring, but for some reason this year it seems so much better. Maybe our economy is starting to stabilize; only time will tell. In the meantime, it’s nice to feel like everything else that blooms in the spring.

Spring is officially here, and not just because of the date. Here in St. Clair Robins have been sited and the frogs have begun to sing. Also, the residents of St. Clair have been outside cleaning up their yards and readying their gardens for their colorful summer displays.

We know spring is here because baseball and soccer season, for the kids, is about to begin. Kids have been outside after school riding their bikes, rollerblading, playing basketball and just horsing around. Adults as well have been taking advantage of the warmer temperatures and longer days – taking walks in the evening.

If everyone is losing their job and can’t find a new one…. Then why do we still have rush hour traffic? Where’s everybody going?

It seems as though now is a good time to buy and/or sell property. With the prices of homes as low as they are it’s a great time to upsize, especially if you couldn’t afford to during the housing bubble. Also it’s a great time for first time home buyers with all of the different loan programs available. The newest incentive being the $8000 tax credit, which does not have to be paid back: it’s truly a credit. So anyone buying a home for the first time or who hasn’t owned a home for at least 3 years, now is your time to get some good deals and good loans.

Sheriff Sale? - This is the actual date of foreclosure. This is the same date that you were notified of through the mail and the date that was posted on the home. You do not have to move out on this date.

Now What? – Your home has been officially foreclosed on and, will now show up in your credit report as such. At this point your home has either been bought or current mortgage company is retaining it. This is the start of the Redemption Period.

YES – THERE ARE OPTIONS TO FORECLOSURE!

As we all know in these difficult economic times many people are losing their homes. You may very well know one of these people or even be one yourself. Whether a home is being lost due to a job loss or a decrease in wages, there are options. These options are still may not allow you to keep your home but, will help prevent a foreclosure.

SHORT SALE: This is when the mortgage company allows you to sell your home for less than the balance of your mortgage. Arrangements for a short sale must be worked out with your mortgage company prior to the sale.

Loss Mitigation refers to the mortgage company’s programs/department designated to assist people with bringing their mortgages up to a current status once there is a delinquency.

If you find that you need to call your mortgage company because you are delinquent, ask for the Loss Mitigation Department or sometimes known as the Loan Counseling Department.

Loss Mitigation Options:

Repayment Plan: the delinquent amount is added to your regular payment, and spread out over a 3 -12 month period (sometimes longer).

Loan Modification: delinquent amount is added to your principal balance. Sometimes the term of your loan is extended to 30 years and/or the interest rate adjusted.