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  • February Pending Home Sales Rise

    Pending home sales increased in February but with notable regional variations, according to the National Association of REALTORS®. The Pending Home Sales Index, a forward-looking indicator, rose 2.1 percent to 90.8, based on contracts signed in February, from 88.9 in January. The index is 8.2 percent below 98.9 recorded in February 2010. The ...
    Posted to Traverse City Real Estate Blog (Weblog) by 193949 on March 28, 2011
  • What Is a 'Safe' Mortgage?

    Later this month, the Federal Deposit Insurance Corp. will consider new rules that define what a safe or “qualified” residential mortgage is as part of the Dodd-Frank financial overhaul law. Experts say the classification will likely have broad sweeping effects on the mortgage market.. The Dodd-Frank financial overhaul law, which ...
    Posted to Traverse City Real Estate Blog (Weblog) by 193949 on March 24, 2011
  • FSBOs Vanish, Sellers Turn to Real Estate Pros

    For-sale-by-owners are rare nowadays. In fact, the number of FSBOs dropped to record lows over the past year. Unrepresented sellers make up just 11 percent of the market, down from 13 percent in 2009, according to the 2010 National Association of REALTORS® Profile of Home Buyers and Sellers. With today’s more complex ...
    Posted to Traverse City Real Estate Blog (Weblog) by 193949 on February 15, 2011
  • Bank of America delays foreclosures in 23 States

    WASHINGTON -- Bank of America is delaying foreclosures in 23 states as it examines whether it rushed the foreclosure process for thousands of homeowners without reading the documents.  The move adds the nation's largest bank to a growing list of mortgage companies whose employees signed documents in foreclosure cases without verifying the ...
    Posted to Traverse City Real Estate Blog (Weblog) by 193949 on October 3, 2010
  • Short Sales Tips for Sellers

    If you're thinking of selling your home, and you expect that the total amount you owe on your mortgage will be greater than the selling price of your home, you may be facing a short sale. A short sale is one where the net proceeds from the sale won't cover your total mortgage obligation and closing costs, and you don't have other ...
    Posted to Traverse City Real Estate Blog (Weblog) by 193949 on August 30, 2010
  • National Home Prices are Firming Up

    The trend in firming home prices solidified in the second quarter with more metropolitan areas showing increases from a year ago, aided by a surge in home sales driven by the home buyer tax credit, according to the latest survey by the National Association of REALTORS®. In the second quarter, 100 out of 155 metropolitan statistical areas ...
    Posted to Traverse City Real Estate Blog (Weblog) by 193949 on August 11, 2010
  • MSHDA Help for Hardest Hit Homeowners

    Helping Hardest Hit Homeowners  The U.S. Department of Treasury approved the Michigan State Housing Development Authority’s (MSHDA) plan to distribute $154.5 million in federal funds that should help more than 17,000 Michigan households avoid foreclosure.  In February President Obama announced $1.5 billion in funding for innovative ...
    Posted to Traverse City Real Estate Blog (Weblog) by 193949 on July 12, 2010
  • Mortgage Rates hit an All Time Low 4.69%

    Average interest on a 30-year fixed mortgage fell to an all-time low of 4.69 percent this week, down from 4.75 percent a week ago, reports Freddie Mac. Although rates have held below 5 percent since early May, Michael Fratantoni of the Mortgage Bankers Association notes that demand for purchase loans has fallen in six of the past seven weeks and ...
    Posted to Traverse City Real Estate Blog (Weblog) by 193949 on June 27, 2010
  • Number of deliquent mortgages declines

    The number of delinquent mortgages declined 8.6 percent in March, says LPS Applied Analytics, which tracks the performance of loans for investors. Totals also declined in February. The biggest decline was in loans more than 30 days past due, which are now at about the same level as they were in spring 2008. "We're not out of the woods, ...
    Posted to Traverse City Real Estate Blog (Weblog) by 193949 on April 19, 2010
  • Century 21 Northland Home Sales + 31.79%

    For those that read my post a few days ago regarding my personal sales transactions being up 57% in 2009 compared to 2008 in a " down market" as we all constantly here in the media......more great and positive news......my office, Century 21 Northland has seen tremendous increases as well. Our listing inventory ( amount of listings ...
    Posted to Traverse City Real Estate Blog (Weblog) by 193949 on January 12, 2010