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- High home prices making 1 out of 3 homes unaffordable. Prefab homes may be a viable option
- Home prices continue to increase, industry experts optimistic
- Mortgage Cram-downs will Cost Hard-Working Americans
- Don’t Believe the Hype on June Home Sales Increase
- New Federal Home Loan Rules are too Much of a Good Thing
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Author Archives: ShortSense
High home prices making 1 out of 3 homes unaffordable. Prefab homes may be a viable option
It’s no secret that homes have been appreciating in value the past few years. Some areas in some states have not fully recovered from the 2007 market crash but they’re getting close. Homes in some cities have appreciated beyond their … Continue reading
Home prices continue to increase, industry experts optimistic
As many prospective buyers of homes for sale in Los Angeles continue to become homeowners while affordability is high, they are helping to reduce the inventory of delinquent homes. Foreclosures and short sales have previously hindered home prices, but CoreLogic’s … Continue reading
Mortgage Cram-downs will Cost Hard-Working Americans
It seems that some people in Washington are starting to realize what we in the mortgage business have known for a long time – loan modifications don’t work. Jim Puzzanghera reports in the LA Times this morning that: Federal programs aimed … Continue reading
Posted in Mortgages
Tagged cram downs, Feinstein, loan modifications, luxury reos, luxury short sales
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Don’t Believe the Hype on June Home Sales Increase
Today the NAR came out with a report showing that the volume of home sales in many parts of the country is up. This has lead many in the media to declare that the housing market has hit a bottom … Continue reading
New Federal Home Loan Rules are too Much of a Good Thing
Starting on July 30th, lenders and brokers will have to begin providing borrowers with a whole slew of new disclosures – some good, most bad. One of the worst of the new requirements, as reported by Ken Harney in the … Continue reading
Mortgages in Default Increase Sharply in California
According to First American CoreLogic, Inc., 9.5% of California mortgages in May were in default, up sharply from 5.8% in May 2008. This will ultimately result in more foreclosures, short sales and bank owned properties coming on the market, assuming … Continue reading
Posted in Luxury Short Sales
Tagged bank owned los angeles, foreclosure, LA Times, NOD, short sales los angeles
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Jamie Dimon Throws the High Hard One at Uncle Sam
From Connie Madon at bloggingstocks.com: Imagine this:Your bank holds $81 trillion dollars worth of derivatives which is 40% of all the derivatives held by all the banks. Actually this is not a fairy tale. JP Morgan Chase (NYSE: JPM) does own this staggering … Continue reading
Walking Away From Mortgage is a Strategic Decision for Many Homeowners
There was a report out last week, as reported by Kenneth Harney at the LA Times, that revealed some not-so-surprising information on why people walkout on their mortgage; about 26% see it as a strategic business decision. Among the study’s … Continue reading
Posted in Mortgages
Tagged Frank, Greenspan, Kenneth Harney, los angeles short sales, luxury short sales, mortgage default
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Is a Short Sale the Answer for Lenny Dykstra?
CNBC reporter, Jane Wells sat down with “Nails” this week at his Sherwood Country Club estate to discuss his recent Chapter 11 bankruptcy filing. Lenny bought the estate two years ago from “The Great One”, Mr. Wayne Gretzky, with a … Continue reading
Its Always Cloudy in Sun Valley
At investment bank Allen & Company’s annual Sun Valley retreat, Rupert Murdoch sounded off on his feelings about the economy and where its headed after he spoke with some Silicon Valley and Wall Street insiders: “I’m shocked at the business … Continue reading
Posted in Economic Climate
Tagged Allen & Company, billionaire, Fox Business Network, Rupert Murdoch, Sun Valley
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