Archive for 'Foreclosures and Short Sales' Category
Helping to Explain the Bailout Issue to Jittery Clients/Consumers
1 October 2008If you’re new here, you may want to subscribe to my RSS feed. Thanks for visiting!by: Chris Galler, COO - Minnesota Association of REALTORS
Most of the consumers you talk with will not have a good handle - I am not sure anyone does yet - of the nature of the credit problem. In this [...]
Short Sales are “Liar Listings” on the Twin Cities MLS
26 August 2008Short Sale
Definition: a home sale where the seller owes more than what the home is worth and is asking the lender(s) to accept an amount that is less than the amount owed to them as payment in full.
The same problem continues to come up day after day and I finally have the time and focus [...]
Appraiser in $100M Scam Gets 15 Months in Jail
18 August 2008This latest Star Tribune article has me irked… which seems to be happening a lot lately.
Donald T. Yeager, you’ve just found guilty of participating in a $100 million mortgage fraud scheme, what are you going to do now? “I’m going to jail for a little over a year.”
-hypothetical interview with the most recent guy to [...]
Twin Cities Foreclosures & Short Sales - A Report Analysis
14 August 2008For several weeks now, Jeff Allen (and several others) from MAAR and I have been working diligently to provide an update to our one-of-a-kind research report we released a few months ago. We’ve just released Foreclosures and Short Sales in the Twin Cities Housing Market Q2 2008 Update. The report contains updates to a lot of [...]
Foreclosure & Short Sale Report & Commentary Being Released Thursday
13 August 2008Come back Thursday @ 10am to see the report I co-authored with the Minneapolis Area Association of REALTORS as well as my commentary on the data.
Crazy Homeowner - Keep Kids in Private School & Mom at Home, Lose the House
11 August 2008CNBC has a new show called “On the Money with Carmen Wong Ulrich” and I recently saw a segment that drove me nuts. Click here to see the video.
Here’s a summary:
They send one kid to private school ($14,000/yr currently), the 2nd will be in kindergarten next year
Mom stays at home
Mom can start working 2 days [...]
US Housing Rescue Bill Resources
5 August 2008There’s some good things in the housing bill that Congress & the President signed into law but also some surprising disappointments. An 800+ page bill takes time to process, but here are a few resources so far that deal with some of the biggest parts of the bill:
First Time Buyer Credit Analysis from the National [...]
Jim Cramer Says Buy a House - Soon!
23 July 2008Excerpted from: http://www.cnbc.com/id/25818021
Jim: I thought you were of the opinion that banks could not bottom before housing bottomed. What changed? –Dana in Florida
Cramer says: “We saw quarters from Wells Fargo from US Bancorp. We saw a quarter from JPMorgan. We saw a quarter from Bank of America. And those guys had already put charges in [...]
Happy 4th of July… Stay Tuned for News Next Week
2 July 2008The last 6-8 weeks have been busy and while the real estate market isn’t what it used to be, it is still keeping me plenty busy. In addition, I’m busy working with Jeff Allen to release a 2nd Quarter edition of our Twin Cities foreclosure/short sale report. Lender mediated sales will be with us for [...]
Loose Lending Broke Housing, Tight Lending Keeps it Broken
20 June 2008The several years of “loose lending” by mortgage lenders helped bring a surge of bad loan programs with borrowers that were either overextended from Day One or should have been unqualified to begin with. This surge has now become a tsunami of foreclosures and short sales, which Jeff Allen and I have lumped together as [...]