YouTube - Double Dip in Home Prices [NBC: 5-31-2011]: ""
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Tuesday, May 31, 2011
Friday, May 27, 2011
Foreclosures for sale: Big supply, low prices - Yahoo! Finance
Foreclosures for sale: Big supply, low prices - Yahoo! Finance: "There's a three-year inventory of homes in foreclosure for sale, and that's devastating home prices.
Las Vegas has so many foreclosures that 53% of all the homes sold in Nevada are in some stage of foreclosure, according to a report from RealtyTrac, the online marketer of foreclosed properties.
Foreclosures represent 45% of sales in California and Arizona, and 28% of all existing home sales during the first three months of 2011.
'This is very bad for the economy,' said Rick Sharga, a spokesman for RealtyTrac.
What's more, the homes are selling at steep discounts, especially so-called REOs, bank-owned homes that have been taken in foreclosure procedures.
The average REO cost on average about 35% less than comparable properties, according to RealtyTrac."
Las Vegas has so many foreclosures that 53% of all the homes sold in Nevada are in some stage of foreclosure, according to a report from RealtyTrac, the online marketer of foreclosed properties.
Foreclosures represent 45% of sales in California and Arizona, and 28% of all existing home sales during the first three months of 2011.
'This is very bad for the economy,' said Rick Sharga, a spokesman for RealtyTrac.
What's more, the homes are selling at steep discounts, especially so-called REOs, bank-owned homes that have been taken in foreclosure procedures.
The average REO cost on average about 35% less than comparable properties, according to RealtyTrac."
The Return of a Much-Loathed Mortgage - WSJ.com
The Return of a Much-Loathed Mortgage - WSJ.com: "One of the signature loans of the housing boom—the adjustable-rate mortgage—is looking more attractive than it has in years. For some buyers, it may be an even better deal than a fixed-rate mortgage.
ARMs typically offer buyers a lower rate for a set period of years, after which rates rise or drop each year, depending on prevailing interest rates. The loans lost favor during the financial crisis, when their rates weren't much better than those for fixed-rate mortgages.
But now, as interest rates hover near historic lows, the 'spread' between the rates on the most popular adjustable and fixed-rate loans is on pace to be the widest it has been in eight years, according to HSH Associates, which tracks mortgage rates.
For an ARM to make sense, a borrower has to be comfortable taking a gamble that interest rates won't rise, or that he can sell the house before they do. It is a dicey bet now: Rates have been mostly on a downward slide for the past three years, mirroring the recent plunge in 10-year Treasury rates, and seem to be about as low as they are going to get. Many economists are predicting rates will rise in coming years.
Real Estate Tools at SmartMoney
Fixed Rate or Adjustable?
Should I Refinance?
Fixed-Rate Mortgage Payment Calculator
That is"
ARMs typically offer buyers a lower rate for a set period of years, after which rates rise or drop each year, depending on prevailing interest rates. The loans lost favor during the financial crisis, when their rates weren't much better than those for fixed-rate mortgages.
But now, as interest rates hover near historic lows, the 'spread' between the rates on the most popular adjustable and fixed-rate loans is on pace to be the widest it has been in eight years, according to HSH Associates, which tracks mortgage rates.
For an ARM to make sense, a borrower has to be comfortable taking a gamble that interest rates won't rise, or that he can sell the house before they do. It is a dicey bet now: Rates have been mostly on a downward slide for the past three years, mirroring the recent plunge in 10-year Treasury rates, and seem to be about as low as they are going to get. Many economists are predicting rates will rise in coming years.
Real Estate Tools at SmartMoney
Fixed Rate or Adjustable?
Should I Refinance?
Fixed-Rate Mortgage Payment Calculator
That is"
Tuesday, May 24, 2011
NOTARY COMPLAINT SEMINAR: Fighting Foreclosure,
SAVE YOUR HOUSE - NOTARY COMPLAINT PROCESS
FORECLOSURE DEFENSE SEMINAR INFO:
June 11, 2011 9am to 3:30pm, leave the library by 4pm. Burton Barr Central Library located at 1221 N. Central Ave., 85004, same as last seminar place and time.
Coffee, water, juice, soda, bagels and cream cheese and donuts will be provided. No lunch break. 3 or 4 short breaks.
We will cover:
1. notary complaints: the documents, the process, what to do, how to do it, why it works, etc.
2. Bond claims
3. Dept. of Financial Institution complaints
Bring your documents this time, there will be a hands on segment so people can check there own documents for errors. We will base it on Arizona law so those dealing with notaries in other states must read their state laws and follow accordingly.
We have room for 50 people to ATTEND and 95 people to WATCH. First sign, first served. You will receive the seminar file after you sign up. We will not be recording this one since so many people don't come and just wait for the recording. Financially, it has done us to much harm. We need to get some funds together to keep the site alive.
We are asking a $100 donation for those either attending or watching on the Internet. If you cannot make a complete donation, let us know what you can afford. I prefer you go thru Paypal on the website, or you can send US Postal money order to:
John Stuart
10407 West Trumbull Road
Tolleson, Arizona (85353)
How to sign up:
NOTE; every time most of the people just refuse to do it the way we need it done. please follow the instructions below:
Please follow these instructions exactly. It is not that difficult and makes it easier on us.
1. send an email to seminar@showmetheloan.net and include the following information in this format:
2. in the subject box put : ATTEND or WATCH
3. in the body put: John Smith 602-123-4567 smith@email.com $100 Paypal confirmation # _____. (include your confirmation number in the underlined space)