2010-03-15T10:15:43Z http://laveryteamblog.com/atom.aspx Quick Blogcast tag:laveryteamblog.com,2010-02-10:86339ff8-aa7a-47d5-903a-aaf6932ed52e Douglas 2010-02-10T19:51:00Z 2010-02-10T19:51:00Z Many homeowners across the country are undergoing the devastating effects that the downturn of our economy has produced. There is nothing more stressful, embarrassing, demeaning and devastating as losing a home through foreclosure.Early Warning Signs of ForeclosureCredit card debt out of control. Paying the minimum amount due. Maxed out cards.Paying for necessities with credit cards - groceries, utilities, etc.Cannot meet monthly financial obligations - choosing which bills to pay.Borrowing from friends and family.Loss of employment, or reduction in hours or wages.Major illness which can cause loss of work and an increase in health expenses.Divorce, separation or other traumatic family or ... tag:laveryteamblog.com,2009-10-23:e9eea233-5bda-445b-8c3c-586d1334341d Douglas 2009-10-23T19:57:00Z 2009-10-23T19:57:00Z Yesterday, October 22, 2009, the House Financial Services Committee passed an amendment offered by Rep. Gary Miller (R-CA) that could put an end to the problems brought about by the HVCC (Home Valuation Code of Conduct). If the Bill passes in the House and then the Senate, mortgage brokers will once again be allowed to pick appraisers when underwriting loans for real estate mortgages. “While I am supportive of ensuring accurate appraisals, I have repeatedly expressed concern that the HVCC has potential to increase costs to consumers, significantly hinder a consumer’s ability to obtain legitimate and reliable appraisals, and ... tag:laveryteamblog.com,2009-08-20:f89090e5-7627-4f1d-be7a-314ef6beb401 Douglas 2009-08-20T19:44:00Z 2009-08-20T19:44:00Z For those of you who are not familiar with HVCC, it stands for HomeValuation Code of Conduct which went into effect in May and has caused problems Nationwide. Here are some of the problems:Since "Appraisal Management Companies (AMC's)" are taking up to 40% of the total appraisal fee, and are not being regulated to ensure that their appraisers are licensed and competent, we are seeing unlicensed and inexperienced individuals performing property inspections with grave data entry errors. These inferior appraisals are then being "signed-off" by other parties that never inspected the property and are creating unnecessary financial hardship for buyers ... tag:laveryteamblog.com,2009-06-11:67e984e9-e2b0-4aa5-a8b3-489acfd25fdb Douglas 2009-06-11T19:45:00Z 2009-06-11T19:45:00Z Article Source: Robert Freedman, REALTOR® Magazine OnlineFHA-approved lenders received the go-ahead to develop bridge-loan products that enable first-time buyers to use the benefits of the federal tax credit upfront, according to eagerly awaited guidance from the U.S. Department of Housing and Urban Development on so-called home buyer tax credit loans that was released today.Under the guidance, FHA-approved lenders can develop bridge loans that home buyers can use to help cover their closing costs, buy down their interest rate, or put down more than the minimum 3.5 percent.The loans can't be used to cover the minimum 3.5 percent, senior HUD officials ... tag:laveryteamblog.com,2009-05-15:aaac3298-f6a1-42b2-bdf1-423830bd8b34 Douglas 2009-05-15T14:25:00Z 2009-05-15T14:25:00Z --- From our May NewsletterAt the beginning of March, President Obama and his team unveiled the details of his $75 billion Homeowner Affordability and Stability Plan, designed to help roughly 9 million struggling homeowners hold on to their houses. The plan will utilize two basic strategies to accomplish its goal: first, help mortgage borrowers refinance their risky, expensive loans into more affordable one, and second to encourage lenders with monetary incentives to perform more mortgage modifications.Apparently, there have been plenty of takers on the homeowner side of things, but not as many lenders willing to ... tag:laveryteamblog.com,2009-04-18:988d3a04-c4a9-4d76-bc87-3e147ff1a03b Douglas 2009-04-19T00:34:00Z 2009-04-19T00:34:00Z It happened again the other day... Last week I was looking up clients that I've had for a year and still have not purchased a house. When I mentioned the $8000 tax credit they were surprised. Other Realtors that I have spoken to since have noted similar responses from the people that they deal with.This substantiates for me at least, the idea that bad or sensational news travels farther and faster than good or beneficial news!So, for anyone out there that does not know already, first time home buyers are being awarded $8000 for buying a house before December ... tag:laveryteamblog.com,2009-02-26:7561d3b1-134e-4d36-8ca5-403dcb9587af Douglas 2009-02-26T15:27:00Z 2009-02-26T15:27:00Z Feb. 20, 2009 - Doug Rebert, Prudential Homesale Services Group interviewed on Fox 43 news. Home sales are up in the South Central Pennsylvania real estate market. New first-time home buyer tax credit gives even better than the previous tax credit. Up to $8,000 with no repayment, but must take advantage of it before December 2009. For non-homebuyers, there is a tax credit for making energy-efficient improvements to your home. Interest rates are historically low. Today the interest rates are 5%, which allows someone to buy more land and more home, for the same monthly payment. ... tag:laveryteamblog.com,2009-02-26:a167d72a-1e89-4afa-99d3-8fa02b0bb54a Douglas 2009-02-26T13:55:00Z 2009-02-26T13:55:00Z from our February NewsletterU.S. mortgage interest rates continued to make history in the latest month as the average rate dipped below 5 percent shortly for the first time on record before inching back up. January 8 During the first week of the month, interest rates on 30-year fixed rate mortgages (FRM), as reported by Freddie Mac, fell to 5.01 percent, excluding points, from 5.14 percent the previous week. The average rate on a 15-year FRM dropped to 4.62 percent from 4.91 percent, while the one-year adjustable rate mortgage (ARM) held steady at an ... tag:laveryteamblog.com,2009-01-22:08241695-f7ab-438d-a17d-c28e00a68b93 Douglas 2009-01-22T23:08:00Z 2009-01-22T23:08:00Z When deciding which remodeling projects will get you the most return on your investment and attract potential homebuyers, choose the outside of your house! According to the 2008 Remodeling Cost vs. Value Report, exterior remodeling projects return the most money as a percentage of cost.On a national level, wood deck additions and all types of siding replacements returned more than 80 percent of costs upon resale. Window replacements also return a high percentage of remodeling costs.Here is a breakdown of the percentage of project costs returned for major remodeling efforts:Wood Decks - 81.8%Siding Replacement - more than 80%Window ... tag:laveryteamblog.com,2009-01-02:948e8b92-62af-43c0-8992-892cff9ebb96 Douglas 2009-01-03T03:26:00Z 2009-01-03T03:26:00Z --- From Our January Newsletter ---Home Sales Pace Sales of existing U.S. homes fell in November, according to the National Association of Realtors, by 8.6 percent to a seasonally adjusted rate of 4.49 million units, a decrease from 4.91 million the previous month. Sales were also off by 10.6 percent from October 2007 figures. The national median home price also dropped in November, falling to $181,300 from $186,500 in October. The median price one year earlier was $208,700. ...