Displaying blog entries 321-330 of 432
Tracking distressed sales on the mountain in the area from Government Camp to Brightwood shows that short sales and foreclosures make up 40-50% of our area sales over the past several months on average. Nationally, these numbers match. Here is a chart showing the short sales and foreclosure movement.
Recent area transactions for Welches, Government Camp, Rhododendron and Brightwood bring challenges if using a bank to obtain a mortgage. One of the many pieces of the puzzle is the appraised value of the property. Lenders send out the appraiser to determine the value of the property they plan on lending on.
Today's appraisals are conservative in nature as all banks are trying to reduce risk in lending after the recent bubble fiasco.
Did you know that 35% of appraisals run into issues? Here is some information breaking down the numbers from NAR.
March fell short of the prior two months in total sales on the mountain. Five sales were closed this past month and all were distressed. Two of the sales were FHA financed, two cash and one conventional mortgage.
Weekend shoppers will love today's foreclosures in the Mt. Hood area located in Government Camp, Welches, Brightwood, Rhododendron!
Take advantage of 25 to 40% discounts by purchasing a foreclosure!
Do you want to pay more taxes? The mortgage interest deduction is under attack in a big way. The NAR, National Association of Realtors, is asking for you to help send a message to your congressmen that you don't want this mortgage deduction to go away.
Here is a link to a quick message expaining what you can do just by sending an email.
Did a high school kid sign your foreclosure papers posing as a bank vice president? This recent 60 minute segment aired April 3rd explaining the pervailent fraudulent papertrail of bank forclosure paperwork.
As a follow up, do you know who ownes the deed to your home?
Do the banks need to create a superfund to deal witht his fraud?
NAR, the National Association of Realtors has provided this map showing what percent of distressed sales make up each state's sales.
Many foreclosures in Oregon have been halted due to recent court actions involving MERS. If you have a loan that was run through MERS it is highly possible your foreclosure has been stopped in Oregon as this gets sorted out in Oregon courts. What is MERS?
Read this article about recent foreclosures events in Oregon.
Did you know that the last quarter of 2010 had the greatest home affordability for the US in the past 20 years when records were started for this index! No misprint! Taking the average income of a family, this is the most affordable time to purchase a home. It looks like 2007 was the least affordable time to purchase a home. Indianpolois-Carmel, Indiana is the most affordable location in the US to buy a home today with 93% of the average income earners in the area able to purchase a home. At the other end of the spectrum, Santa Cruz, California was the least affordable for the average income earner at a 45% rate able to purchase. If you can qualify for a loan, this is the best time to purchase a home!
Collins Lake foreclosures are dominating the market in Government Camp. Here is a recent new listing that just became available today.
Another foreclosure unit went pending today, listed at $240,000
The last two sales closing in Collins Lake were also foreclosures. Once closing at $207,000 and another at $234,000.
Displaying blog entries 321-330 of 432
