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February 2011 Blog Posts (20)

Freddie Mac Weekly Update: 30-Year Fixed-Rate Mortgage Drops to 5 Percent

 

30-year fixed-rate mortgage: Averaged 4.95 percent with an average 0.6 point for the week ending February 24, 2011, down from last week when it averaged 5.0 percent. Last year at this time, the 30-year FRM averaged 5.05 percent. .



The 15-year fixed-rate mortgage: Average 0.7 point, down from last week when it averaged 4.27 percent. A year ago at this time, the 15-year FRM averaged 4.40 percent.



Five-year indexed hybrid…

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Added by Howard Bell on February 24, 2011 at 8:25pm — No Comments

Is Search An Early Market Indicator

Real Estate Porn

The search bunny keeps on going



Its interesting that online search for real estate is as strong as ever. Sales are miserable, people are afraid to buy. They no longer know what value and they have no job security. So, why is search so strong. Realtor.com President, Errol Samuelson notes that Online search is a critical measure of interest in real estate, especially now that more than 90 percent of buyers search for their homes…

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Added by Howard Bell on February 23, 2011 at 6:22pm — 2 Comments

Ocwen Short Sale??

I just took a listing and the borrowers loan is with Ocwen. I called to get there fax number to send over the 3RD party authorization form and to initate the Short Sale. The customer service rep at Ocwen told me I couldn't initate a Short Sale and the borrower would have to call first. They mentioned about having the buyer exhaust every possible loan mod program before doing a SS. I told them that the buyer has lost his job over 6 months ago and has NO income to support a loan mod. Plus he…

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Added by Scott Gold on February 18, 2011 at 3:36pm — 7 Comments

Freddie Mac Weekly Update: 30-Year Fixed-Rate Mortgage Drops to 5 Percent

 

30-year fixed-rate mortgage: Averaged 5.0 percent with an average 0.7 point for the week ending February 17, 2011, down from last week when it averaged 5.05 percent. Last year at this time, the 30-year FRM averaged 4.93 percent.



The 15-year fixed-rate mortgage: Averaged 4.27 percent with an average 0.7 point, down from last week when it averaged 4.29 percent. A year ago at this time, the 15-year FRM averaged 4.33…

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Added by Howard Bell on February 17, 2011 at 7:00pm — No Comments

Mortgage Bankers Weekly Update: Mortgage Applications Decrease as Rates Jump

Mortgage Bankers Association for the week of 2/16/2010



Market Composite Index: (loan application volume) a measure of mortgage loan application volume, decreased 9.5 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 7.9 percent compared with the previous week.



Refinance Index: decreased 11.4 percent from the previous week and is… Continue

Added by Howard Bell on February 17, 2011 at 6:59pm — No Comments

Buying Foreclosures - How Foreclosures Work

Buying Foreclosures - How Foreclosures Work

What Is a Foreclosure and How to Profit From Foreclosures

By Elizabeth Weintraub, About.com Guide

.See More About:foreclosuresbuying short salesdistressed homesreal estate investors



Buyers should hire a real estate agent who specializes in foreclosures.

© Big Stock Photo Sponsored Links

Filing Bankruptcy

Examine Your Bankruptcy Options. Free Online Bankruptcy Evaluation.…

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Added by Dave Melka, RSD on February 16, 2011 at 10:35pm — No Comments

Are you a football fan?? This was very motivating!!

 

This morning's guest speaking at our monthly market center meeting in Scottsdale was Ken Whisenhunt, the head coach for the NFL Arizona Cardinals. He shared his insight into what it takes to be a success in a competitive environment.....whether it is on the football field as a player and coach or in the trenches in a challenging real estate market as a broker or agent.

 

Here are the highlights of what he feels it takes to be a success:

1. Have a clearly defined…

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Added by Joseph Milazzo on February 15, 2011 at 4:33pm — No Comments

2010 REO Highlight Reel

Here are some of the highlights from REO experienced through NFSTI in 2010. We had a LOT of fun, great experiences, met a lot of new and incredible people, and built our businesses together.

Can you spot yourself in this…

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Added by Dan Waterman on February 15, 2011 at 10:41am — No Comments

Last week the Small Business Administration (SBA) implemented the new SBA 8(m) rule that allows for firms to be certified as woman-owned small businesses. Of course, there is an acronym –  WOSB.    W…

Last week the Small Business Administration (SBA) implemented the new SBA 8(m) rule that allows for firms to be certified as woman-owned small businesses. Of course, there is an acronym –  WOSB. 

 

WinDS leaders have been closely involved with SBA on this topic as the regulations were being developed. We also networked with Women Impacting Public Policy (WIPP) analysts in D.C. as part of our strategic partnership with WIPP. We know our WOSB…

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Added by Shelley Kaye on February 11, 2011 at 3:18pm — 2 Comments

Mortgage Bankers Weekly Update: Mortgage Applications Decrease as Rates Jump

Mortgage Bankers Association for the week of 02/09/2010



Market Composite Index: (loan application volume) a measure of mortgage loan application volume, decreased 5.5 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 3.9 percent compared with the previous week.



Refinance Index: decreased 7.7 percent from the previous week



Purchase Index:… Continue

Added by Howard Bell on February 10, 2011 at 3:10pm — No Comments

Freddie Mac Update: 30-Year Mortgages Rise to Highest Level Since April 2010

30-year fixed-rate mortgage: Averaged 5.05 percent with an average 0.7 point for the week ending February 10, 2011, up from last week when it averaged 4.81 percent. Last year at this time, the 30-year FRM averaged 4.97 percent.



The 15-year fixed-rate mortgage: Averaged 4.29 percent with an average 0.7 point, up from last week when it averaged 4.08 percent. A year ago at this time, the 15-year FRM averaged 4.34 percent.



Five-year…

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Added by Howard Bell on February 10, 2011 at 3:10pm — No Comments

Homeowners unaware of potential alternatives to foreclosure

Several lenders, including Freddie Mac, report more than half of homeowners who lose their homes to foreclosure never answer their lenders' phone calls or letters. Instead, homeowners feel embarrassed about being in default, don't believe their lender can help, and erroneously assume that contacting their lender will cause them to lose their home more quickly.

 

In a press release announced earlier this week, The Short Sale Association of America (SSAA) shared results of a…

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Added by Lisa Meszaros on February 10, 2011 at 12:19pm — 1 Comment

COMPLETED REM CORPORATION BPO IN TWENTY MINUTES BY USING REALTY PILOT SOFTWARE

COMPLETED REM CORPORATION BPO IN TWENTY MINUTES BY USING REALTY PILOT SOFTWARE

 

I am into my second month when it comes to doing BPOs as a real estate agent. I was told that it would be a great way to start breaking into the REO business. This is all new to me. I…

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Added by HARRY F. D'ELIA III on February 10, 2011 at 9:40am — 2 Comments

Fannie Mae Raises Borrowers Costs

Costs Will Increase For Buyers Regardless Of Credit Worthiness



Beginning April 1, 2011 Fannie Mae will implement a higher interest rate to borrowers even if they have a perfect credit score for all loans term over 15 years. Freddie Mac will change its fee structure changes on of March 1st.



Loan Level Price Adjustment

Borrowers will be charged either a higher interest rate derived from the size of… Continue

Added by Howard Bell on February 9, 2011 at 7:07pm — No Comments

Would you leave $18,000.00 on the table?

Before 2011, whenever a buyer would call in on one of my listings, I would always tell them they needed to go find themselves a Realtor. I did this for several reasons, one of which is because, I just was too busy with listing to be taxing people around to look at homes.

As a new year resolution and, after considering that I may very well be leaving a lot of money on the table by not working with these buyer’s, I decided I would create a buyer’s team. This would be a group of trusted…

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Added by Jesus (Jesse) Gonzalez on February 9, 2011 at 5:30pm — 19 Comments

Driving Some Traffic to a Blog a new Idea - THis is not an advertisment but something that worked

I have been doing a polite battle with the Banks for sometime on Short Sales.  I have also been working with my Congressman and State Association of Realtors on the whole short sale system, hamp & hafa..  So the idea came to mind to post on the blog and do an e mail follow up.   And Kaboom the blog went nuts.  I just told my e mail friends I posted the comment and they made it go nuts.  This was not an advertisement for money, rather it was to help the community.

I don't expect…

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Added by George Kenner on February 9, 2011 at 9:46am — No Comments

made a new YouTube or You Tube video today think I am getting better!

I love making the photos and slide shows and videos for listings.  Maybe THAT should be my whole career, hmmmmm...

 

So, I do not know how to make YouTube show my main info text screen shot, it always seems to show a thumbnail of some random shot in the middle of my video.  Anyone else dealt with this, any YouTube pros out…

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Added by Jessica Klein RDCPro on February 8, 2011 at 7:20pm — 1 Comment

WHY ARE YOU WASTING YOUR MONEY ON OBTAINING CDPE DESIGNATION?

WHY ARE YOU WASTING YOUR MONEY ON OBTAINING CDPE DESIGNATION?

 

I have registered in March of 2011 to obtain my Certified Distress Property Expert (CDPE) designation to further my education in real estate. I made this announcement on my weekly radio show last week. I want…

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Added by HARRY F. D'ELIA III on February 8, 2011 at 7:54am — 6 Comments

Case Shiller: Will We Double Dip

Case Shiller report shows a deceleration in the annual growth rates in 17 of the 20 MSAs. Housing generally leads the economy out of a recession. This time its not, housing is simply suffering. Not only is money tight but job creation is still a big hurt. In some cities, the decline over the last year was quite sharp.



David M. Blitze,chairman of S.&P.’s index committee tells the NY Times that a double-dip could be confirmed before spring. He goes on to say the series is now…

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Added by Howard Bell on February 2, 2011 at 3:55pm — 2 Comments

Real estate schools with default courses for agents

Due to recent developments in the default real estate industry, we (as default professionals) have seen an explosion of real estate schools offering default courses in specific niches like, Short Sale, REO and Loan Modification.

Of course, I am sure we all can agree, a quality education can be expensive but, well worth it however, why would someone pay a premium for a quality education? For many of us, this question is mute simply because know the benefits of such an…

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Added by Jesus (Jesse) Gonzalez on February 2, 2011 at 8:36am — 5 Comments

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