$8000 First Time Homebuyer Tax Credit…Why Wait?
March 30, 2009 by Kristin LaVanway · Leave a Comment
One tool homeowners have to help with the expense of buying a home is the first time homebuyer $8000 tax credit for purchases between January 1 and December 1, 2009. This credit, equal to 10 percent of the home’s purchase price up to a maximum of $8,000, is available for home buyers who have not [...]
The Big Bad Banks…Who’s Wearing the White Hats?
March 30, 2009 by Kristin LaVanway · Leave a Comment
The big banks these days do not have many fans, especially among Realtors. But I was reminded recently that even though banks may be viewed as public enemy number 1, the people that work there, the people in the trenches, don’t necessarily fall into that same category.
What Does the Bottom of the Real Estate Market Look Like, Anyway?
March 27, 2009 by Kristin LaVanway · Leave a Comment
If you look at the current real estate market statistics, it sure looks like things are starting to turn around here in Phoenix. Sales volume is up, equivalent to 2007 levels, and the inventory of homes on the market is down – about an 8 month supply. Things look even rosier of you take the short [...]
Toxic Assets – The Ultimate Short Sale
March 23, 2009 by Kristin LaVanway · Leave a Comment
There is a lot of talk in the news these days about toxic assets…but what in the world does that term mean? And why is everyone so worried about them?
Toxic assets are a direct result of the decreasing home values applied to some bad loans. Let’s say the bank loans Joe Homeowner $100,000 to buy [...]
Making Home Affordable – Website Helps Homeowners Struggling with Mortgage Payments
March 20, 2009 by Kristin LaVanway · Leave a Comment
Coming on the heels of the Obama Administration’s recent launch of a new program to help troubled homeowners, the government has launched a new website to offer assistance to those seeking relief from mortgage payments they cannot afford. The website Making Home Affordable offers several resources to help troubled homewowners determine if they are eligible for assistance [...]
Home Shopping with Kids – A New Perspective on Real Estate
March 16, 2009 by Kristin LaVanway · Leave a Comment
I happen to have four boys – very energetic ones, I might add – so I always enjoy it when my clients bring their kids along when we are shopping for homes. I probably enjoy it more than my clients do because house shopping with the kids in tow can make the experience a little [...]
Is it a Recession or a Depression?
March 12, 2009 by Kristin LaVanway · Leave a Comment
Have you heard the old saying: “A recession is when your neighbor loses his job…a depression is when you lose your job.” Yeah, that used to be kind of funny until we all found ourselves in a position where we had to decide between the two. Face it, we are all in one category or [...]
What As-Is Really Means – REO Buyers Beware
March 12, 2009 by Kristin LaVanway · Leave a Comment
I recently worked with a Buyer on an REO (bank-owned) transaction. Her budget was tight so we had been slugging it out with all the other bargain hunters here in Gilbert to find a great home at a great price. Because we hoped to close the deal sometime in 2009, we decided to forego short [...]
Bank-Owned Homes – Selling like Hotcakes!
March 8, 2009 by Kristin LaVanway · Leave a Comment
I recently posted about the zombies of real estate – the short sales. At the opposite side of the spectrum are the foreclosed homes, commonly known as REO’s (Real Estate Owned) or homes owned by the bank. REO’s are being listed at very competitive prices and often sell in a matter of days. In many areas, [...]
Are Short Sales Worth It?…The Zombies of the Real Estate Market
March 4, 2009 by Kristin LaVanway · 4 Comments
Short sales are the most misunderstand real estate transaction out there. A short sale, or “pre-foreclosure” sale occurs when the Seller is selling the home for less than what is owed to the bank, or banks, if there is a second mortgage on the property. The transaction can only take place if the bank (or [...]
