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As of June 15th, a new Fannie/Freddie guideline will take effect in how short sales are sold. While short sales aren’t a huge part of our market, you should still know what this means and how it changes the game. Here’s the outline for the upcoming changes: Banks now must respond with 30 days. If [...]
Archive for the ‘Foreclosures’ Category
New 30 Day Rule for Short Sales
May 8th, 2012 
Laura 
Posted in Arlington, Foreclosures, Investor 
Tags: arlington real estate, guidelines, short sale 
No Comments »Five Big Banks Reach National Settlement for Struggling Homeowners
February 13th, 2012 Laura Last week 49 states (Oklahoma is the hold out) reached a settlement with the five biggest loan servicers in the US as the lengthy investigation into Robo Signing and the housing bust continues. Here’s the quick and dirty on what the settlement means for those of you currently facing mortgage problems, those of you who [...]
How’s The Foreclosure Market in Arlington?
November 16th, 2011 Laura Recent articlesshow National averages of 1 foreclosure filing for every 563 homes. While the most chatter is about the Top 5 Worst Foreclosure Markets (1. Las Vegas, NV, 2. Chicago, IL, 3. Los Angeles, CA, 4. Miami, FL, and 5. Phoenix, AZ) I wanted to take a minute to compare our local market so you can keep things in perspective. [...]
Posted in Arlington, Foreclosures, Investor Tags: arlington real estate, Foreclosures, market statistics, short sales No Comments »If My House Is Worth Less Than I Owe – What Are My Options?
August 30th, 2011 Laura If you’re upside down on your mortgage and can’t afford to or don’t want to keep paying your mortgage, you essentially have 5 options moving forward, which I will detail below. If you find yourself in this position, please PLEASE seek counsel from an attorney and/or an accountant. Each option below has tax implications, legal obligations [...]
Why Is It Called A Short Sale?
August 30th, 2011 Laura You’ve been warned and you’ve heard horror stories of short sale transactions, but do you actually know why they’re called “Short Sales?” These distressed sales earned their name because the current owner is selling his/her property SHORT of what he/she owes on the loan. When you hear the term “upside down” it means the same [...]
Posted in Arlington, Foreclosures, Investor Tags: arlington real estate, real estate jargon, short sales No Comments »Extreme Couponing and Foreclosures – What’s the Connection?
May 12th, 2011 Laura If you’re friends with me on Facebook, you’ll know that I LOVE the show Extreme Couponing on TLC. It blows my mind what these people do (and how much time they spend doing it!). Well last night there was an episode which featured a woman who said “see, there’s an advantage to a down market…” [...]
Foreclosures Lurking in Hiding – Shadow Inventory for Virginia
March 30th, 2011 Laura The last five months (Oct 2010 – Feb 2011) we’ve seen the following number of distressed sales in Arlington: 26, 19, 10 ,10 12, and 18. That accounts for bank-owned properties on the market and short sales sold, not properties bought or sold at auction. The properties sold at auction that are not bought by [...]
Real Estate Is Local – National Foreclosure Data Versus Northern Virginia
March 4th, 2011 Laura This morning on the Today Show their real estate segment said the national sales data for 2010 shows about 30% of sales were foreclosures. All I can think when I hear that is “but that’s national – not us!” And then I end up yelling at the TV. So I decided to attempt something more [...]
Posted in Arlington, Foreclosures Tags: arlington real estate, Falls Church, Foreclosures, McLean No Comments »What Arlington County Residents Should Know About Our Real Estate Market and Foreclosures
December 16th, 2010 Laura A MSNBC Article today makes headlines by noting that Foreclosures fell to the lowest level in 18 months in November. The article gives some insight into some common causes of foreclosure: Banks’ foreclosure document problems aside, many of the factors that have contributed to the foreclosure crisis are likely to be present next year and [...]
Posted in Arlington, Foreclosures Tags: arlington real estate, Foreclosures, market update 1 Comment »Arlington Foreclosures For Sale: Week of 12/14/2010
December 16th, 2010 Laura There are a total of 18 foreclosures for sale in Arlington this week:
