According to the S&P/ Case-Shiller index home prices have declined nationwide another 1.5% in the third quarter compared with a year ago. Despite the fact that the economy is improving, the large number of homes on the market together with the slowdown in the processing of foreclosures has resulted in buyers holding off on making … More Slump in Housing Prices Deepens
Short sales can be difficult enough getting one lender to accept the payoff of less than the amount owed. Add a second mortgage to the mix and the task of obtaining the approval becomes more difficult. Most second mortgage holders should be willing to accept a token payment since they would receive nothing anyway if … More Second Mortgage Standoffs Stand in Way of Short Sales
This article from Reuters provides guidance on questions you may want to ask realtors before you make a decision on who to hire to help you with the purchase or sale of your most important asset. With so mamy real estate agents to choose from, it makes sense to make the extra effort to narrow … More How to choose a realtor: a checklist
According to this Smartmoney article, bidding wars are back in some New York suburbs where first time home buyers who are eager to take advantage of the low prices and low interest rates have began to compete with each other. This competition will likely drive prices up as these eager buyers, not wanting to miss … More Home Buyers Face a New Challenge: Competition
If you are buying a co-op or condominium unit from a sponsor in which the unit is being renovated, the details of the renovations, including the materials and fixtures being installed, should be outlined in the contract of sale. This agreement will provide that you have the right to do a pre-closing” walk through” in … More The Punch List
The standard co-op contract requires the submission of the Board package within 10 business days after the fully executed contract is returned to the buyer. The Board package consists of a number of annoying documents, including personal and business reference letters that sometimes can be difficult to obtain in the required time. Despite the best … More Submitting your co-op application on time.
Very practical advice for those considering whether to sell their home. 1st collector for Dailymotion – How to Know When to Sell Your Hom…Follow my videos on vodpod
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