Real Estate Websites, IDX, HomeSearch Solutions for Real Estate Agents Posts

San Jose Short Sale Myth: There Are No Rules Or Guidelines For Short Sales

Guiseppe Matese — Thu, 17 May 2012 03:51:22 +0000

San Jose CA – I recently saw an article written by a prominent, so called short sale expert. In the article, this supposed expert says the only rules for short sales are HAFA, but even those rules are subject to interpretation. That is like saying that there are no traffic laws. If that were the case, then everyone could drive 100 MPH and never get a ticket. That is like saying that the court system has no rules. (Go ask a judge or lawyer and you’ll find out the truth about that pretty fast.) Click here to discover how other sellers successfully did a short sale and avoided foreclosure. The good news for short sale sellers is that there are rules. There are lots of rules in fact. These rules protect you from renegade, rogue employees at short sale lenders. They also protect you from the lenders. Here is a small sampling of the rules and guidelines for short sales. FHA Short Sales. There is a 16 page directive from HUD to lenders. This directive gives explicit instructions to all lenders on how to handle short sales on FHA loans. You can read thru the rules for an FHA Short Sale yourself. Just Google “Mortgagee Letter 2008-43.” VA Short Sales. VA gives explicit instructions (again in their short sale guidelines. Only, they don’t call it a short sale. They call it a VA Compromise Sale. Call a VA Loan Center to get a copy of the Compromise Sale Guidelines. Between 65-70% of all the loans in the US are owned or insured by one of the following entities: FHA, VA, Fannie Mae, or Freddie Mac. Those entities either own or insure against loss. That also means those entities have the right to dictate what can and cannot be done on a short sale. The lender handling the negotiations has to follow their guidelines or face stiff penalties. Fannie May and Freddie Mac do not publish their guidelines to the general public. But, we do know they have them. The lenders have sent Stop Foreclosure Institute Members copies of their guidelines before. The member was disputing something on a short sale. They couldn’t believe a certain rule. The lender’s negotiator sent them the guidelines for the thing they were disputing. The bottom line is that most (if not all) short sale sales do have rules. However, the lenders don’t want you to know that. Thinking about a short sale? I can help you short sale your property and get back on your feet. Send me an e-mail at sccrealestateprofessionals@yahoo.com. I will contact you for a free consultation. When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at (408) 292-0486 Discover how other sellers successfully completed a short sale and request a free consultation by clicking here. Thinking about a loan modification? Our San Jose loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy. Thanks for reading this, Guiseppe Matese. Guiseppe is a Real Estate Agent at RE/MAX Santa Clara Valley. Phone: (408) 292-0486. sccrealestateprofessionals@yahoo.com. Helping San Jose Families Avoid Foreclosure Click here to view my homes for sale at www.AvoidMySanJoseForeclosures.com. Guiseppe Matese specializes in loan modification assistance and short sales in San Jose California. San Jose Short Sales. San Jose Loan Modification Help. San Jose Short Sale Realtor. San Jose CA Short Sales. San Jose Realtor. Copyright 2011 SFI Marketing Institute, LLC. All Rights Reserved. This information on San Jose Short Sale Myth: There Are No Rules Or Guidelines For Short Sales is provided as a courtesy to our viewers to help them make informed decisions.

Make Your Tax Dollars Work For You!

deborahsoden — Thu, 17 May 2012 03:00:33 +0000

4 great ways to use your tax refund at home

http://bit.ly/Kpw70I

Record rate of cash buyers hit SD home market

Dan Batoon — Thu, 17 May 2012 00:53:06 +0000

Here's a deeper look at April housing numbers for San Diego County.

Buying Salt Lake Real Estate: What You Need to Know

Tuiono — Wed, 16 May 2012 23:13:29 +0000

If you are looking at purchasing a home in the Salt Lake real estate market, there are some important factors you need to know. Whether you are from in state or out of town, we can help you determine the kind of home you are looking for.

Prices are going up and inventory is going down in the Salt Lake real estate market. What does that mean for you?

When housing prices are trending upward and inventory trending downward, it is typically referred to as a seller's market. In other words, the seller usually has the upper hand when it comes to making a deal on a home. It is during this kind of market in which you need an efficient real estate agent. Without a hard-working real estate agent that works n the Salt Lake Real Estate market, you could be left out to dry.

What Makes a Salt Lake Real Estate Agent Effective?

Our team works hard for you to not only find the right home for you but also make sure you get the best deal possible. Because the Sale Lake real estate market is currently a seller's market, you need a member of our team to make sure you are not getting yanked around by home sellers. Par Utah Group is a dedicated group of Salt Lake real estate agents that will get the work done without causing any stress on your end. So give us a call right now. We will answer any questions you may have regarding the Sale Lake real estate market.

Don't Scrimp on the Insurance

Lynn & Ron Denman — Wed, 16 May 2012 23:08:57 +0000

Last night my wife and I went to visit a client of ours as he showed off his newly reconstructed home. Last winter in a heavy storm a one hundred foot high tree crashed through his roof while he was sleeping in the middle of the night. He's lucky to be alive, but that's not the point of this story. The point of the story is that his insurance company (Farmers) rebuilt everything even better than before. And that's because he didn't cut corners on his insurance policy. At the time, he thought he may have been paying a little more than the needed with the various riders and options available, but now he's thankful that he did. You never know when that catastrophic "act of god" might choose to land on your house.

How Well is the Utah County Real Estate Market Doing?

Sterling Barton — Wed, 16 May 2012 22:24:20 +0000

Knowing the current status of the Utah County real estate market is important to both home owners and prospective buyers.

Whether you are in the market for a home or trying to sell yours, you can have an advantage by knowing the direction of the Utah County real estate market. Cities like American Fork and Orem are currently on the rise and the rest of the Utah County real estate market looks similar. So what does that mean to you?

Utah County Real Estate Market for Buyers

If you are trying to purchase a home in the Utah County real estate market, you are going to be paying more for a home than you would have six months ago. However, that doesn't mean you should be waiting for the market to go back down because the truth is it may keep going up for a while. From the graphs above, we can see that the average home in the Utah Real estate market is remaining on the market for lower periods of time and that number keeps shrinking. That means you don't have the luxury as a potential buyer to drag your feet. Now is the time to call me and get started.

Utah County Real Estate Market for Sellers

The Utah County real estate market is currently a seller's market. Prices have been steadily climbing since November. This means if you are trying to sell your home, you should be in pretty good shape. Also, because the average home is on the market for less time than it was two months ago, you will have less competition. However, this number can climb at any time as more and more houses hit the Utah County real estate market. So what are you waiting for? I can help you get your home listed and sold ASAP.

Search the U-T's home-price database [new]

Dan Batoon — Wed, 16 May 2012 22:09:03 +0000

The U-T San Diego now has a new, improved database that lets you search home prices and sales by ZIP code and neighborhood.

Bank of America Offering Up To $30,000 For Short Sales

Dyer & Company — Wed, 16 May 2012 21:13:21 +0000

Bank of America (BOA) is offering some struggling homeowners payments of up to $30,000 if they sell their homes in a short sale and avoid a foreclosure. Under the plan, Bank of America will offer homeowners so-called relocation payments of between $2,500 and $30,000 if they sell their home in a short sale. In short sale deals, the sale price of the home is less than what the seller owes the bank. The bank first tested the payments in a pilot program in Florida last fall. Under that initiative, Bank of America paid up to $20,000 to borrowers who sold their homes in short sales. Chase started a similar program in late 2010 that pays as much as $35,000 to short sellers and Wells Fargo has also paid five-figure incentives to short sellers. BOA said it has completed 200,000 short sales over the past two years. These sales are generally more cost effective for banks than foreclosures. By avoiding foreclosure, the lenders avoid getting back distressed properties from delinquent borrowers which allows them to avoid property tax payments, maintenance expenses and legal fees that can build up for months, even years, as foreclosures work through the system. Foreclosed properties are often poorly maintained, even sometimes sabotaged, by angry former owners, making them worth far less to the banks. During the last three months of 2011, foreclosures sold for an average of about $150,000, according to RealtyTrac. Meanwhile, short sales sold for an average of about $185,000. To qualify for Bank of America's relocation payments, borrowers must obtain pre-approval on sale prices for their homes. The sale must begin by the end of 2012 and close by September 26, 2013. The exact compensation is determined case-by-case based on a calculation that involves the home's value, mortgage balance and other factors.

As Good As It Gets!

Bryan Schaefer — Wed, 16 May 2012 18:29:15 +0000

Is housing as cheap as it’ll ever get? WASHINGTON – May 4, 2012 – Homebuyers who want a bargain may want to act now because the housing market is in the midst of a turnaround, economists say. Home prices have fallen and mortgage rates are hovering near record lows, pushing home affordability for the average family to record highs. Meanwhile, rents have been on the rise, making owning a home cheaper than renting in most areas of the country, according to recent surveys. But the housing deals aren’t expected to stick around much longer. An improving job market, a decrease in the number of homeowners falling behind on their mortgage, and an anticipated improvement in access to mortgages is expected to help home prices start bouncing back by next year, economists say. Investors eyeing profits in rentals also have been snapping up bank-owned properties, which Clear Capital’s Alex Villacorte attributes as helping to lead to an increase in prices on foreclosed properties. This “could have a significant impact on the market overall in terms of providing a rising floor to home values,” Villacorte told CNNMoney. Some areas are already seeing prices rise. In Phoenix, housing prices have already increased 8.4 percent during the three months ending April 30, and Miami saw prices bump up 4.6 percent quarter over quarter, according to Clear Capital data. “Stuff I was selling six months ago for $60,000 to $80,000 is now $90,000 to $110,000,” Tanya Marchiol, founder of Team Investments in Phoenix, told CNNMoney. Loan rates, demand predictions Buyers may want to act more quickly because mortgage rates are expected to tick up slightly by the end of the year. The increase is being sparked by greater demand, says Doug Lebda, CEO of LendingTree. He predicts 30-year fixed-rate mortgages will inch up to 4.5 percent by the end of the year, which is still low, however, by historical standards. The Mortgage Bankers Association is also predicting a big leap in mortgage loans next year. For this year, MBA estimates that buyers will take out loans totaling about $415 billion, but by 2013 that number is expected to nearly double to $706 billion. Source: “Buying a Home Won’t get Much Cheaper,” CNNMoney (May 3, 2012) and “Time To Trade The Lease For A Mortgage?” NPR (May 1, 2012) © Copyright 2012 INFORMATION, INC. Bethesda, MD (301) 215-4688

San Diego Spaces: Talmadge, a Secret San Diego Neighborhood

urbanhomesrealestate — Wed, 16 May 2012 18:23:50 +0000

Welcome to San Diego Spaces, an informational blog about the buildings, neighborhoods, and other great spaces in and around America’s Finest City, San Diego. My name is Alisa Edwards and I am a Real Estate Agent, Wife and Mom, avid runner, and lover of all things San Diego. I am excited to bring some information to you each week about some of the greatest places to live in our amazing city. This week in San Diego Spaces, we will take a look at the eclectic San Diego neighborhood of Talmadge. Historically named after the Talmadge sisters who were silent film stars in the 1920's, this charming neighborhood offers a range of architecture including Sapnish Revivals, California Bungalows, and Cape Cod Cottages ranging in price from the low $300k's up to $900k. Talmadge borders Kensington on the West and El Cerrito/College Area to the East. It is a must-see San Diego neighborhood if you are looking to be in a historic neighborhood with the option for beautiful canyon views or nice sized lots with yards. Driving along the curving streets inside the Talmadge gates, you feel like you have been transported back in time. I especially love the pride of ownership. You see homes being well maintained and yards well manicured. Talmadge is freeway close and an easy ten minute drive to downtown San Diego. Homes for sale in Talmadge right now include: Address Bed/Bath Sqft Price

5217 Monroe Ave.	3/1	1050	$294,000
4925 Madison Ave.	2/2	1399	$349,000
4760 51st St.	3/2	1144	$424,000
4766 49th St.	4/2	1666	$639,900
4607 Janet Pl.	4/4	2617	$649,000
4794 Winona Ave.	3/4	2423	$689,000
4708 Lucille Dr.	3/2	1622	$689,000
4828 Lila Dr.	3/3	2341	$798,500

If you would like to take a look at any of these units, or have any questions about downtown San Diego real estate or your next move, feel free to give me a call at (619) 309-9644. Next week we’ll be taking a look at another neighborhood in San Diego, so stay tuned! — Alisa ###

St. George, Ut Luxury Real Estate

laura-taylor — Wed, 16 May 2012 17:49:46 +0000

Saint George is one of the fastest growing places in Utah. There is so much to do from the diversity on wealth in the community. You have a great active community with miles and miles of walking and hiking trails minutes away from every home. If the active life style isn't what you are looking for and you want more of a quick get away feel, the golf courses in the area are some of the best in the state. They also are known world-wide for their resorts and spas. Saint George is also a very family friendly community and a great place for kids to grow up, or even send them to college. Dixie State College is located in the heart of Saint George and they have a lot of great programs with athletics and academic scholarships available A great thing about Saint George is that it is close everything. With Brianhead Ski resort a little more than one hour north of Saint George in Parowan, and being one and half hours away from Las Vegas. St George is full of entertainment- such as Tuacahn Amphitheatre, high end shopping and 5 star restaurants. It's is the perfect place to be and benefit from the big city and country feel that surround it. Southern Utah has it all.

Hire a Real Estate Agent with the Power to Succeed

Dick and Kathy Littleton — Wed, 16 May 2012 16:25:19 +0000

The housing market is coming up roses this spring. Some of the buds are a bit stunted, but the air is filled with an unmistakably rosy sent. Realtor.com says, on average nationwide, prices and sales are blooming, inventories are wilting, and more and more markets reveal a potential for growth not seen in years. "Things are picking up. All the prices are down and interest rates are really low. It's like Macy's is having a sale," said Martin Morales, Secretary-Treasurer of the Monterey County (CA) Association of Realtors. No, you didn't miss the bottom, but the potential for a buyers' bum rush and forecasts for higher rates later this year could cause the competition to heat up this spring. That's your cue. Hire a real estate market hero It's the best time to buy a home in years, but the worst time to move without a professional on the payroll. Shopping in today's market without first hiring a licensed real estate agent is like going to war without combat skills. Investors will show you no mercy, all-cash buyers are looking to make a killing and agent-represented buyers are locked and loaded. Ask family members, relatives, friends, co-workers and others you trust for a referral. Also get referrals from Realtor.com's "Find a REALTOR" search engine. Look for tenured experience in general and specialty experience - designations and certifications - for certain sales skills, including short sales, second homes, green homes, luxury homes, buyer representation and property management, to name a few, depending upon your needs. "Talk to your sphere of influence. Also, take a look around the neighborhood where you want to live and see who is active and who has testimonials that prove they are active and successful" said Karen Smyth, a real estate agent with Keller Williams Realty-Peachtree Road, Atlanta, GA. Look for technology super powers Today, tech-savvy is just as important as a solid track record, but it goes beyond laptops and desktops. Today's housing browser is always connected and always on the go. Virtually all, 98 percent, of homebuyers who used a mobile device (smart phone or tablet) in their home search considered the device a valuable tool, with 46 percent asserting the tech tool as "Essential" and 52 percent stating it as "helpful", according to a "Mobile Home Shoppers" a study from Network Communications, Inc. (NCI). "Our research supports that homebuyers are turning to their smart phones and tablets in their search and taking action to reach real estate professionals," says Scott Dixon, president of NCI's Real Estate Division. According to NCI, mobile device users do pretty much everything the last tech generation of home buyers did, and then some, when they went browsing for housing. The new breed of home shopper plugs into GPS to locate listings and check our neighborhoods, they fire up apps to help them hone their search, and, via social media, they Care Bear-share listings, video tours and their successful home-buying experience with family, friends and acquaintances. "Tech-savvy agents who are comfortable with methods of communication such as Twitter, Facebook, Skype, etc tend to be faster to respond to their clients needs and thus also able to alert buyers faster when new homes come on the market, which is important due to well-priced inventory moving quickly right now," said Jonathan Benya, a real estate agent with Keller Williams of Southern Maryland. "We've seen a 50 percent drop in inventory over the last 12 months, so response time is key," Benya added. With great power, comes great responsibility But a suitcase full of gadgets doesn't amount to a hill of beans if the agent can't wield other powers, says Morales, broker/co-owner of Century 21 Scenic Bay Properties in Monterey, CA. For example, in the third of the market that offers bargain basement prices on distressed properties, the agent must ferret out hellish conditions that can come with those properties. "The value of the agent is not showing properties any more. Anyone can look at a property, but you need someone to show you how to know if you can profit on the property. Someone who can keep you out of harms way so you don't buy a property that will give you problems in long run," said Morales. Mid-mannered alter ego Oakford Taylor, a real estate agent with Long and Foster in Bear, DE says the fundamentals also still apply, especially now, more than ever, in this hurry-up-and-get-it-done world. Having strong rapprot with an agent supercedes all else. If the two of you can't talk, the deal will balk. It doesn't matter what credentials you have. If you don't have interpersonal skills, people will walk away," said Taylor, snapping his cape. Article provided by Realtor.com.

Home sales surge in April

Dan Batoon — Wed, 16 May 2012 16:22:38 +0000

Spring home sales in San Diego County continued to heat up in April as deals in the entire Southern California region saw more modest gains, Wednesday's DataQuick report showed.

San Diego Realtor among top '30 under 30'

Dan Batoon — Wed, 16 May 2012 13:00:00 +0000

Mike Wolf, a 29-year-old San Diegan, has been named one of the nation's top, young up-and-comers in residential real estate, according to Realtor Magazine. Wolf is part of this year's 30 Under 30 list, which recognizes people in the industry who stand out in business and leadership.

San Diego Realtor among top '30 under 30'

Dan Batoon — Wed, 16 May 2012 13:00:00 +0000

So you think it’s easy to manage rental property in Columbia MO?

Modern Property Groups — Wed, 16 May 2012 12:30:55 +0000

One of the first questions for people entering the landlord game in Columbia MO is whether to hire a property manager or manage the new rental themselves. As with everything in life, there are positives and negatives to each strategy. Once you get the property to rent-ready status, you’ll need to make some decisions on whether you manage the property yourself, or hire someone to manage it. Consider the following before you decide that you want to manage the property yourself:

Renting the property when it’s vacant is typically the most time-consuming and toughest part. You’ll need to place rental ads, respond to emails, interview potential tenants on the phone, and meet with good prospects at the property to show the unit.

You will probably have a few no-shows and probably have to show it 5-to-8 times and take rental credit applications from several different parties. Then you must review the applications, pull a credit report, review the credit report, comply with state and federal housing laws, call employment references, call personal and past landlord references, etc.

If all looks good, you need to prepare a lease, negotiate on the terms, meet with the tenant, run them through the lease, be there during move-in day, etc. You’ll also have to finalize the prior lease with any tenant leaving, resolve the security deposit and any repairs, etc.

It’s not an impossible task, however, It’s a lot of work!

RE/MAX continues to be #1

Rick Libro — Wed, 16 May 2012 11:51:19 +0000

RE/MAX agents continue to be the most productive real estate professionals – by a wide margin.

In the annual REAL Trends 500 study – an independent ranking of the Top 500 U.S. brokerages – RE/MAX Sales Associates averaged 15.1 transaction sides last year. That figure was twice as high as the collective average of all agents in the study who are not affiliated with RE/MAX (7 transaction sides).

It was also twice as high as the averages posted by national competitors such as Coldwell Banker (7.2), Century 21 (6.9) and Keller Williams (6.9).

In fact, when the 500 brokerages were ranked by per-agent transaction sides – the most meaningful measure of productivity – RE/MAX claimed the top 18 spots and a dominant 44 of the Top 50.

Overall, 116 RE/MAX brokerages made the rankings; no competitor had more. And RE/MAX also led all national franchises in total sales volume per agent with $3 million, 60 percent more than the average of all other agents in the survey.

The survey results were yet another reminder that RE/MAX Sales Associates outsell the competition year after year.

"Since 1997 it’s been true that nobody sells more real estate than RE/MAX. Some may brag about their numbers, but quality and performance are what consumers look for," says RE/MAX CEO Margaret Kelly. "RE/MAX agents are performing well at a critical time when housing is starting to improve, making them the best choice to help homebuyers and sellers in today’s market."

Buying a Home in Sandy UT - How to Leverage the Recovering Market

Tuiono — Wed, 16 May 2012 06:29:55 +0000

So, you are one of the people looking to really take advantage of the recovering real estate market here in Utah. The down-side is, you are not the only one. The up-side is, we are at a near-perfect time of the market to really capitalize on the trends and setup for a nice Value-Gain on Buying a Home. One location that I have many hoime buyers wanting to look is in Sandy Utah. Sandy happens to sit perfectly between all that Salt Lake City and Utah County have to Offer. Also, because Sandy is in a great location, and has a great set of neighborhoods to live in, you'll notice that the trends have setup potential Home buyers in Sandy UT for a real win. To illustrate, checkout this market graph below. You will see that I have graphed the Price Trend vs. the Inventory Trend. What is interesting about this graph is that it demonstrates how prices started to creep up before a lot of buyers decided to really jump in the market - everyone wanted to see if this was for real. Notice, though, how recently, the trend on Home Inventory in Sandy UT takes a sudden dip, and crosses the price trend. What this really means for you, as a buyer in this market, is NOW IS YOUR TIME! That's right. Soak this graph in (there is a lot of great rend information to be had - let me know if you would like to know other recent statistics and I can pull some reports for you). The big thing you want to keep in mind here, is that as the Days on market continue to fall, price naturally keeps climbing - because a low days on market is a certain indicator of buyer demand. So, here is the leverage part. If you follow the trends, you will notice that at the time when demand is starting to see a true, marked turn upwards, that is your best time for an investment. you'll find the highest amount of security in your investment in a Home together with a high return on that investment later. So, for those wanting to Buy a Home in Sandy, and get a great deal, let me know. I can help you find the best Foreclosures in Sandy along with standard residential sales. We can look at short sales and even great deals on new build homes in the Sandy UT Market.

Call Me for More Information!

Foreclosures in Sandy Utah - Best Time to Invest

Tuiono — Wed, 16 May 2012 05:38:34 +0000

We have many people asking us right now about Foreclosure and Short Sale opportunities in Sandy UT and surrounding areas. The reality of these properties, is that they aren't always quick, they aren't always easy... but when you get the right deal, you are always glad that you put the effort in. Foreclosures in Sandy UT are really staged for a Big Buyer Move-In... that's right, everyone, including banks and institutions are moving through these deals much more quickly that previously. At the same time, the Housing Market around Sandy Utah has picked up to the point that buyers can also feel very confident that they will see a marked increase in Home Value - especially Homes in Sandy. A couple of big tips that I give home buyers in this market:

Make sure that you start into the type of transaction that you want - you can find incredible Sandy Short Sale or Sandy foreclosure deals. You can also find great deals on more "normal" residential homes in Sandy as well as even New Homes in Sandy. The main thing is knowing what you want and taking it all of the way through.
Don't try to know everything yourself. There is a reason people like me and my team stick with the market even when it is "down" - we know how to read the trends closely and help our clients take advantage of them.
Be realistic on prices, timeline, and financing. If you happen to be a cash buyer, this is the easy part. If you are going to finance a purchase, let me know and I can make sure that you have some tips of the trade in getting the best deal on your financing these days - frankly there are a host of options, and I can assist you in getting the perfect one.

The big thing in this market is to not worry too much, and make sure that you don't have to worry by working with professional teams. We are able to represent you in finding the right deal and home. We also have a wide network of financing, appraisal and other professionals that will make the process as simple as possible.

Give us a Call!

U.S. Housing Market Finally Reaches a Turning Point

Cindy Burgess — Wed, 16 May 2012 05:00:00 +0000

Home valuations will start to climb again while adjacent consumer industries will capture significant new growth opportunities in 2012 and beyond as the U.S. housing market finally turns the corner, concludes a major new study released today by The Demand Institute. According to the study, the recovery of the housing market will have far-reaching impacts in the coming years across the United States and international markets as U.S. consumers increase their spending on buying, renovating, furnishing and maintaining their homes.

Launched in February 2012 and jointly operated by The Conference Board and Nielsen, The Demand Institute is a non-profit, non-advocacy organization with a mission to illuminate where consumer demand is headed around the world.

The new report, “The Shifting Nature of U.S. Housing Demand,” predicts that average home prices will increase by up to 1 percent in the second half of 2012. By 2014, home prices will increase by as much as 2.5 percent. From 2015 to 2017, the study projects annual increases between 3 and 4 percent. This recovery will not be uniform across the country, and the strongest markets could capture average gains of 5 percent or more in the coming years.

Between 2006 and 2011, some $7 trillion in American wealth was wiped out when home prices dropped 30 percent after dramatic climb in valuations during the housing bubble. Looking forward, the moderate growth expectations for coming years suggest a return to normalcy. As home prices continue to drop and interest rates fall further, first-time buyers and others who remained relatively cautious will be drawn back into the housing market. And, as the market recovers, so too will consumer spending.

In addition to the projected gains in home prices, the report discusses in detail the dynamics at work in the U.S. housing market and the impacts across industries. Here are further highlights from the report:

Rental demand will help to clear the huge oversupply of existing homes for sale. In 2011, some 14 percent of all housing units were vacant, while almost 13 percent of mortgages were in foreclosure or delinquent—increases of 12 and 129 percent respectively over 2005 levels. It will take two to three years for this oversupply to be cleared, and at that point homeownership rates will rise and return to historical levels.
The housing market recovery will not be uniform across the country. Some states will see annual price gains of 5 percent or more. Others will not recover for many years. The deciding factors will include the level of foreclosed inventory and rates of unemployment.
The average size of the American home will shrink. Many baby boomers who delayed retirement for financial reasons during the recession will downsize. They will not be alone. The majority of Americans have seen little or no wage increase for several years, and many will scale back their housing aspirations. The size of an average new home is expected to continue to fall, reaching mid-1990s levels by 2015.
Consumer industries including financial services, home furnishings, home remodeling will all experience shifts in demand and new growth opportunities. Part of this spending is linked to increases in wealth from improving home valuations, while an even bigger part is tied to the "transaction" of buying or selling the home which sets in motion increased demand for a wide range of products and services.
Despite the number of Americans who have been hurt financially by the housing crash, the desire to own a home remains strong. We do not expect to see a long-term drop in ownership rates. Indeed, one survey has revealed that more than 80 percent of Americans recently thought buying a home remained the best long-term investment they could make.

Published with permission from RISMedia.

Survey: Economic Optimism Increases Among U.S. and Europe CFOs

Cindy Burgess — Wed, 16 May 2012 05:00:00 +0000

Chief Financial Officers still see a tough road ahead, but are demonstrating a strong outlook, according to the most recent survey of CFOs conducted by Financial Executives International (FEI) and Baruch College's Zicklin School of Business. CFOs in Europe and the United States have increased optimism in the global economy and their businesses, with fewer concerns over inflation, oil and hiring than last quarter. U.S. CFOs are showing a brighter outlook in particular and half now believe that the country is in the midst of a recovery.

Respondents to the quarterly "CFO Outlook Survey," which polls CFOs of public and private businesses in the U.S., Mexico and Europe (Italy and France) on their economic and business confidence, expressed a higher level of optimism compared with the previous quarter. European CFOs' optimism in the global economy increased over two points (from 51.80 to 54.00), but it still remains below the survey high one year ago (58.9). Their level of confidence in their own companies also increased slightly to 58.30 (from 57.60 in Q4), although it remains below where it stood a year ago (66.1). U.S. CFOs' confidence also experienced increases this quarter. Their optimism in the global economy increased more than five points to 51.9 (from 46.10 in Q4), and their optimism in their own companies saw a three point increase to 70.60 (from 67.60 in Q4). The CFO Optimism Index for the U.S. economy had a similar increase to 60.60 (from 57.10 in Q4). This quarter, net earnings, capital spending, revenue and technology spending remained the top areas where CFOs across the board are expecting positive increases over the next 12 months. U.S. CFOs are expecting a 20 percent increase in their net earnings, compared with 13 percent last quarter.

Despite their climbing optimism, CFOs, on average, continue to believe that the unemployment rates will remain at high levels for the next six to 12 months. Although the U.S. CFOs believe the rate will slightly decline from 8.3 to 8.1 percent, European CFOs think their countries' unemployment rates will climb from 8.6 to 9 percent. While 59 percent of U.S. CFOs have seen wage levels rise, the majority of those responding in Europe (63 percent) report that they have stayed the same. Still, the majority of U.S. CFOs (62 percent) plan to hire additional employees at their companies in the next six months, compared with only a third of European CFOs (35 percent).

CFOs forecast the inflation rate in the U.S. to be at 2.5 percent six months from now, rising to three percent a year from now, and European CFOs forecast their inflation rates to come in at 2.8 percent six months from now, rising to 3.1 percent a year from now. On average, CFOs have a moderate to low concern about inflation, and when asked to rank their concern on a scale of one to five, 39 percent of EU CFOs and 36 percent of U.S. CFOs expressed a "three," with a near even split on either side.

Published with permission from RISMedia.

Americans Warming Up to Summer Travel in 2012

Cindy Burgess — Wed, 16 May 2012 05:00:00 +0000

Compared to 2011, more Americans are planning to kick-off the summer with a Memorial Day weekend excursion this year; however, they are conscientious about travel expenses, according to a new Deloitte survey.

The survey shows a notable increase in anticipated Memorial Day travel, as nearly one-third (31 percent) of respondents plan on taking a leisure trip, compared to the 24 percent who say they traveled over the Memorial Day weekend last year. For the remainder of the summer travel season, the majority (54 percent) expect to take a trip between June 1 and Labor Day, which is slightly more than those who say they ventured out during the same time period in 2011 (52 percent). Furthermore, of those respondents who expect to travel between June 1 and Labor Day, one in four (24 percent) plan to spend more money on this year's summer trips than they did last year, while over half (56 percent) anticipate spending the same amount.

While the cost of air travel remains a top concern, it will not cause most consumers to cancel their plans altogether. Among the two-thirds (66 percent) of respondents who have noticed an increase in airfare, only 16 percent changed their summer travel destination or decided not to book a trip that involved flying. However, measures by airlines to increase revenue with additional fees appear to influence the behavior of leisure travelers.

Air travel is not the only area where consumers are seeking value, as leisure travelers admit they are looking to cut costs throughout their trips. About a third (31 percent) of respondents admit to not tipping hotel staff on a frequent basis because they are no longer using services such as a bellman, a direct result of fliers using carry-on sized bags. However, hotel businesses overall can likely expect an increase in business revenues this summer, with only about one in four (21 percent) of respondents who expect to travel between June 1 and Labor Day willing to spend less on lodging to cut overall travel costs, down from 35 percent last year. Instead, value-conscious consumers will likely be looking for more in services and added amenities, including complimentary breakfast, free wireless Internet access and free parking. Additionally, only one-sixth (16 percent) of respondents feel they are receiving more personal attention and/or individual tailored services during hotel stays.

Fuel costs will likely be less of a roadblock for consumers hitting the roads over Memorial Day weekend, with more than half of respondents (54 percent) saying rising gas prices will not affect their travel plans, compared to the 41 percent who indicated the same in 2011. However, rising fuel costs may significantly influence travel plans for lower income households. For those respondents who expect to travel between June 1 and Labor Day and with a total annual income of $99,000 or below, one quarter (25 percent) indicate they would cancel a summer trip if gas prices were to increase one dollar, whereas only 11 percent of those earning more than $100,000 per year say the same.

Published with permission from RISMedia.

3 Reasons Why American Fork UT Real Estate is CHEAP CHEAP CHEAP... For Now

Sterling Barton — Wed, 16 May 2012 04:38:59 +0000

So, here is the deal... A good deal is always defined by what you get and for how much, right? So, my take on the market right now is that this is AS CHEAP AS IT GETS to buy a home in American Fork. Why? Because cheap doesn't only have to do with price. OK. So maybe the word "Cheap" is the wrong one to use - but I had to get your attention :) What I really ought to say is that right now is the best VALUE for a home. The reason for this is simple:

Home Prices are still far below where we started a while ago
More importantly, prices are climbing
There is high confidence that the market, prices and values will continue to climb

3 simple reasons that support my main point of American Fork Homes for Sale being the best deal you are going to get for a while. Basically, if you can buy cheap, that is great, unless you have to sell for cheap, right? If you can buy expensive, that stinks, right? Unless you sell for even more expensive (the cause of much of the housing crisis). But, right now, you can buy for cheap, and it is looking reasonably certain that you will have great GROWTH OF EQUITY in your American Fork Home over the next couple of years. I am probably a biased party, but really, I am able to stay close to and read the Local Utah Real Estate Market Trends and help my clients find the best values for their dollar. That is why I have great repeat client business and also why I am able to point out when the time to jump is vs a time to hold (which I advised a number of clients to do last year). If you are ready for a great investment or want to take advantage of the American Fork Real Estate Market to upgrade the ol' homestead, give me a call. I can always help you find:

Homes for Sale in American Fork
REO Properties in American Fork
Short Sales in American Fork
Foreclosures in American Fork
Investment Properties in American Fork

Call or email, and let me know what you're looking for and I'll put my team on it!

Buying a Home in American Fork - Buy Now or Regret it

Sterling Barton — Wed, 16 May 2012 04:24:43 +0000

The Real Estate Market in and around American Fork UT has seen significant progress over the past while. To most this is a HUGE relief - to some buyers, they are scrambling to get deals done as prices and mortgage rates increase and inventory drops. Let me show you a quick glance at what the housing market in American Fork is looking like: As you can see in the graph above, Prices continue to climb at an amazing pace, as inventory in the area continues to fall. What does this mean?

Primarily this means that the market is evening out from where it has been the past few years. This is actually a great thing all-around.
For Sellers, this is great news - many sellers that have held off can now list and expect to see prices that are moving into tolerable range -- it doesn't mean that the economy is "all better" necessarily, but it moves us in the right direction.
The big message is actually for buyers... and not just any buyers. See below for more.

The Market for Buying a Home in American Fork... But Not for Long

For those buyers that consider themselves true "Savvy Shoppers", this is the market to get your deal in... but it is moving away fast. Many would-be buyers are thinking that now is probably a great time, but what if "we wait just a little longer?" Well, my friends, my bet is that the market keeps increasing shortly then steadies for a slow overall climb to the top, albeit with a couple of bumps still. The growth means that what is now a market opportunity for buyers will level out and provide only normal returns for those buyers. This is why we recommend that those interested take advantage of the market today. If you are considering buying a home in American Fork - Call us and let us help you find the perfect deal!

Why Do Lenders Always Lose Your Paperwork On A San Jose Short Sale?

Guiseppe Matese — Wed, 16 May 2012 01:43:02 +0000

San Jose CA – If you have negotiated a short sale or loan modification, then you have probably heard the lost paperwork excuse. “Oh, we lose your paperwork. Please refax it to this number”, then lender’s representative tells you. I have heard this excuse countless times. No one can lose paperwork that much. I am now convinced that it is a lie. But, why would a lender blatantly lie like that? Click here to discover how other sellers successfully did a short sale and avoided foreclosure. In my opinion, they do that to make up for their failings. See, most loan modification and short sale departments are stretched to the max. The employees are overworked and underpaid. Everyone just gets into the mindset of not caring. They have to deal with angry people every day. The people are understandably angry and they want some answers. But, because nothing it getting done, the employees feel bad. But, rather than tell the customer what is really happening, they make something up. No one wants to tell someone that nothing has happened on the file in several months. It will make that person even angrier. It could even start lawsuits against the lender. It is much easier to tell them that their paperwork got lost somehow. It they tell them that, they will think it is a legitimate excuse and refax the paperwork. Problem solved for the lender. But, doesn’t that cause more problems for the borrower? Thinking about a short sale? I can help you short sale your property and get back on your feet. Send me an e-mail at sccrealestateprofessionals@yahoo.com. I will contact you for a free consultation. When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at (408) 292-0486 Discover how other sellers successfully completed a short sale and request a free consultation by clicking here. Thinking about a loan modification? Our San Jose loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy. Thanks for reading this, Guiseppe Matese. Guiseppe is a Real Estate Agent at RE/MAX Santa Clara Valley. Phone: (408) 292-0486. sccrealestateprofessionals@yahoo.com. Helping San Jose Families Avoid Foreclosure Click here to view my homes for sale at www.AvoidMySanJoseForeclosures.com. Guiseppe Matese specializes in loan modification assistance and short sales in San Jose California. San Jose Short Sales. San Jose Loan Modification Help. San Jose Short Sale Realtor. San Jose CA Short Sales. San Jose Realtor. Copyright 2011 SFI Marketing Institute, LLC. All Rights Reserved. This information on Why Do Lenders Always Lose Your Paperwork On A San Jose Short Sale? is provided as a courtesy to our viewers to help them make informed decisions.