Possible Slowings in Foreclosures?

 

Recently the Morgage Bankers Association  sported that the nunmber of homeowners being in their mortgages had reached 6.99% ~ However the report further states that the numbers of families just entering default has begun to drop.

The MBA NOTED THAT THE SLOWING IN NEW DEFAULTS IS NOT NECCESARILY A SIGN OF RECOVERY,  but that the new rescue efforts and foreclosure moratoriums may be beginning to take hold.

 

Shorts and Investments

In the past few days I have received call after call from homeowners who have decided that they just dont like that investment property any more......It may not have increased in value or it may have had terrible tenants that have left it in a mess....there are many reasons to hate an investment property nowadays! The most important distintion here is that IT IS NOT a PRIMARY residence - Most agent s will agree that banks will not accept a deficiency on an invest,ment property ~ WHAT! ~ thats right! Banks typically WILL NOT accept a short on investment properties ~ HOLD ON THOUGH ~ that may be a myth ~ we have a client who is set to close on the 30th of Jan whose l...

  •Short Sale:   A short sale is when a bank or mortgage lender agrees to discount a loan balance due to an economic or financial hardship on the part of the mortgagor. This negotiation is all done through communication with a bank's loss mitigation department. The home owner/debtor sells the mortgaged property for less than the outstanding balance of the loan, and turns over the proceeds of the sale to the lender in full satisfaction of the debt.  In such instances, the lender would have the right to approve or disapprove of a proposed sale.

 

Available - these homes are not currently listed with any realtor but are available!

I offer these homes as a buyers agent - I do not represent the seller - if you have an agent please hae them call me. Marshall 532-324

Duplex 3 bed 2 bath - 1 bed 1 bath in good condition on Ashley ave below crosstown - large lot - $349k - brings in $2300 per month rent 4000+ sq ft building on Ashley Ave that requires much  (TOTAL) renovation....has history - $99K

The seller of the above 2 propertyies would prefer to sell as a package - the benefit is that the large parking area of the duplex will give you a fabulous staging area for the renovation of the building!

 

Wonderful and well maintained home in Summerville - priced well below others in the neighborhood at $100,000 -

Dont miss this wonderfull opurtunity!

Charming,well maintained home on large lot in Dorchester II School District. This home features 3 nice bedrooms,1.1 baths, large family room, kitchen with separate dinning area with glass double doors that open to large, fenced, back yard. Interior has been painted and windows and glass doors replaced. Roof REPLACED 2 YEARS AGO with architectural shingles. ~a must see~ PLEASE VERIFY SCHOOLS IF IMPORTANT - THIS IS NOT A SHORT SALE OR FORECLOSURE

$255,000 - immaculate condition - dont miss this!

1580 sq ft - 3 bedroom 2 bath Home in The Villages at Park West -

LOVELY 3 BEDROOM 2.5 BATH HOME SITUATED ON A VERY LARGE FENCED LOT THAT BACKS UP TO PRIVATE WETLANDS. READY TO MOVE IN WITH A DESIRABLE FLOOR PLAN THAT FEATURES MANY UPGRADES INCLUDING HARDWOOD FLOORS, GAS FIREPLACE AND CROWN MOLDING ON KITCHEN CABINET .OWNERS HAVE UPGRADED MANY ELECTRICAL FIXTURES. THIS HOME IS CLEAN CLEAN CLEAN AND READY FOR YOUR FAMILY! PAR...

Confidence may be rising?

With the weekend drawing to a close I am pleased to say that I have had an amazing amount of activity with both our listings and Buyers - with interest rates in the 4.5-4.75% buyers are saying "lets go look!"

 

Our new listings

 

Charleston Peninsula Investors special

This is offered as a buyers agent - if you are represented please have your agent call Marshall Walker

The price is $160 k - Please call if you are looking for a good investment Property - This WILL NOT LAST at this price

843-532-3214

MARKET RECAP

Any goodwill the economy might have banked during the holiday weeks of Christmas and New Year was certainly depleted last week. Most of the news was bad, and in some cases bad in ways unseen in years.

To wit, the Federal Reserve's minutes from its mid-December meeting of the Federal Open Market Committee (the committee that sets interest rates) revealed continued fears of a prolonged recession and a possibility of deflation. Some members indicated "the distinct possibility of a prolonged contraction." The minutes suggested that the Fed believes the economic outlook will remain weak "for a time" and hints that economic activity might be at substantial risk.

Consumers likely...

Enjoy the lowcountry for ALL it has to offer!

Some days we forget how blessed we are to live in Charleston - lets take a moment to forget about the State of the Economy and focus on our family, friends and othe people who are important to us - 

 

This may very well be the perfect candidate for a FHA 203(k) renovation/rehab - currently price under $90,000 in the neighborhood of Sanagree.

Dont miss this chance for first time homebuyers or? This home should qualify for one of the 203(k) rehab loans or even a FHA energy efficiency loan.  Call Marshall for details!! 843-532-3214 

Attention investors: this property needs cosmetic attention and has much to offer. Property is being sold STRICTLY "as-is". Seller makes no warranties, expressed or implied to the condition of any personal or real property contained in the sale. This property has 3 bedrooms, ceramic tile in the kitch...

 

New Fannie Mae Loan Fees Target Condo Buyers, Among Others

When conforming mortgages started defaulting en masse in late-2007, mortgage guarantor Fannie Mae created a loss-offsetting, fee-generating scheme dubbed "loan-level pricing adjustments".

The concept was basic: For mortgage applicants with high-risk profiles, collect up-front payments to offset potential long-term losses. 

Similar to the auto insurance model in which younger drivers pay higher premiums, the riskier the applicant, the higher the fee.

At the inception of the program, Fannie Mae defined "risk" as a combination of borrower credit score and home equity percentage.  In general, lower FICOs and higher LTVs paid mo...

 

It's Semi-Official : New Conforming Mortgage Fees Go Into Effect Monday

Even though its effective date is April 1, 2009, mortgage applicants should start seeing Fannie Mae's new fee structure from lenders beginning this Monday, January 12.

The reason why Fannie Mae's mandatory loan fees are hitting lender pricing so far in advance is because lenders can take up to 30 days to package and sell a loan to Fannie Mae post-closing.  In effect, this moves the April 1 start date to March 1.

Then, figuring that March 1 is roughly 45 days from now and that 45 days is a normal window on which to close on a home or on a refinance, the start date again pushes back, this time to January 15.

Give...

 

 

 

Many consumers are turning to "eco-friendly" paints for both the environmental benefits and also out of concern for their own health.

Type
Opt for latex paints, if you have to buy a synthetic paint. The majority of household paints today are either alkyd (solvent/oil) or water (latex/plastic/emulsion) based. Alkyd paints, which are used mostly for high-gloss applications or to minimize mold growth in areas with high moisture, contain 32 to 42 percent volatile organic compounds (VOCs), as opposed to 2 to 5 percent found in latex paints. While alkyd based paints can be marketed as low-VOC, their VOC content is still usually much higher than that of latex-based paints. Even so, latex paints,...

Tree Purpose

More than 25 million Christmas trees are sold in the U.S. each year.

What Can You Do?

Come New Year's Day, it may be tempting to pack up the bulbs and the ornaments, sweep up the pine needles and drop ol' Tannenbaum on the curb. But natural Christmas trees are 100 percent biodegradable as long as they aren't buried in landfills. Instead, they can be recycled into mulch and hiking-trail chippings. Some cities have even recycled Christmas trees into barriers for shoreline stabilization and beachfront erosion prevention.

To find out if your community has a Christmas-tree recycling program, contact the local parks and recreation department, public works department, recycling ...