Investor Cash Is Forcing Home Prices Down
Based on a recent survey, cash buyers were to blame for the driving down of home prices. The survey showed that 1 out of 3 home buyers are cash buyers, and they make the home prices go down by paying in straight cash. Paying in cash is a strategic way to negotiate your desired terms. [...]
Mortgage Rates Are At An All Time Low
In the U.S., the 30-year fixed average monthly mortgage rates have gone down to an all-time low of 3.94% from 3.99% against the previous week and against last year from 4.83%. The same goes for the 15-year mortgage rate from 3.21% to 3.27% against the previous week and 4.17% from last year. Regardless of the [...]
Questions About The Foreclosure Crisis, PT. 2
After writing part one of this two part post, The Federal Reserve came out with additional guidelines for banks to help those homeowners that are underwater in their loans or undergoing a foreclosure. I wanted to see what the response from banks would be as well as if the Fed would let us in on [...]
Questions about the Foreclosure Crisis – Pt. 1
After posting the last time in early November I have been asked at least a dozen times about loan modification and foreclosures. In an attempt to answer those who contact me better, I made a few calls and did some research of my own and the next few posts are going to reveal some very [...]