Tag

underwater mortgage

Hey! What Happened to All the Inventory?!?

Lack of Supply = Higher Prices? Fellow Edina Realty agent (and blogger) Aaron Dickinson has a nice post shining a spotlight on a lightly heralded, not-so-overnight housing market development:  the lack of Twin Cities homes for sale. In fact, as Aaron notes, the number of homes on the market locally in October — just over 21,000...
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Solving the Housing Crisis — Take 2

Swapping Underwater Mortgages on Craig’s List One of the most popular posts ever on this blog, “Groupon for Underwater Homeowners,” made the case that underwater homeowners could exert heretofore missing leverage over their lenders by teaming up and negotiating as a group (“groupon”). Seeing as no one (so far) has bit on that idea, I’m now offering up solution...
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Short Sale Paradoxes

A Short Brief Short Sale Q&A Question #1:  When doesn’t a homeowner care what their home sells for? Answer:  When they’re not receiving the proceeds. Question #2:  When does a homeowner not care what the Realtor’s commission is? Answer:  When they’re not paying it. Question #3:  When do both of the above apply? Answer:  In...
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What’s the Big Deal About 20% Down?

Backdoor Price Increase Perhaps the key issue in housing at the moment — besides the just-released March Case-Shiller numbers showing that housing nationally touched a new low — is the initiative by lenders and some in Congress to mandate 20% down payments. In theory, the proposal makes a lot of sense:  Buyers who put down 20%...
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Sellers Who “Don’t Really Need to Sell”

Telling Sellers What They Want to Hear — Initially It doesn’t happen to me that often, but — believe it or not — there are occasions when I interview for a listing, and the would-be client decides to go with another Realtor. In fact, I fielded a phone call informing me of that news earlier this week....
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Buyers’ #1 Bugaboo?

Divining Buyer Psychology What’s keeping Buyers from buying? I see three factors operating at the moment: One. Can’t qualify for a mortgage/bad credit. If you don’t have a job, or any money in the bank, you’re not going to get a loan. At least not one from a bank. Sadly, a couple years of grinding...
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