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  • Buy A Home, in College?

    Buy A Home, in College?

    by Cory Boatright on Sep 06 2010

    People often tell me that when they were in college they assumed owning a home was something they would only do much later in life. The goal of being a...

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  • Washington and Banks: Chaos?

    Washington and Banks: Chaos?

    by Cory Boatright on Sep 03 2010

    How bad is it for you when you live in a ghost town? Drives down property value, doesn’t it? Well, Washington thinks America’s cities are turning barren, with empty homes...

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  • Pending Sales Jump, Surprisingly

    Pending Sales Jump, Surprisingly

    by Cory Boatright on Sep 03 2010

    Whoops! Experts in the real estate field really slipped up on this one. Since the expiration of the homebuyer tax credit, pending home sales have been in a steady decline....

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  • Fannie Mae Appraisal Cutting

    Fannie Mae Appraisal Cutting

    by Cory Boatright on Sep 02 2010

    Home appraisals are often the most stressful part of any home sale. You never know if your home is worth what you’re hoping to get for it. You never know...

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  • Bank Failures Coming

    Bank Failures Coming

    by Cory Boatright on Sep 01 2010

    Duck! Your bank is falling! A few years ago, that would have sounded as absurd as “The sky is falling!” But that was a few years ago and we live...

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  • Too Many Homes

    Too Many Homes

    by Cory Boatright on Aug 31 2010

    How long do you think it’ll be until demand for homes outstrips supply? Half a year? 1 year? If your friends have been telling you the recession is over, tell...

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  • Tax Credit Coming Back?

    Tax Credit Coming Back?

    by Cory Boatright on Aug 30 2010

    The evidence so far clearly shows that the surge in home sales in the first 2 quarters was completely due to the tax credit. So the slow down over the...

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  • More Home Prices Affordable

    More Home Prices Affordable

    by Cory Boatright on Aug 27 2010

    Have you heard of the Housing Opportunity Index? It was developed by the National Association of Home Builders and Wells Fargo to measure how affordable housing is around the country....

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  • Underwater Homes Down

    Underwater Homes Down

    by Cory Boatright on Aug 27 2010

    Two quarters in a row the number of homeowners classified as “underwater” has declined. That means that “only” 11 million homeowners owe more than their homes are worth. (In case...

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  • Mortgage Defaults – First or Second?

    Mortgage Defaults – First or Second?

    by Cory Boatright on Aug 26 2010

    It seems some numbers are up while some numbers are down. That seems to be the norm in this crazy economy. If you look at things one way the glass...

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Fannie Mae Appraisal Cutting

Fannie Mae Appraisal Cutting

Home appraisals are often the most stressful part of any home sale. You never know if your home is worth what you’re hoping to get for it. You never know if the appraiser is incompetent or even corrupt. Fannie Mae is trying to make a change. From now on, lenders that sell loans to the...

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Prices Falling Just in Time

Prices Falling Just in Time

Did you ever notice how things have a way of balancing out? You know, things go down just as something else goes up. It’s always funny when it works out that way, but it really makes a lot of sense. Take the latest news about home prices, for instance. The tax credit for first time...

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Strategic Foreclosures

Two new studies that are beyond obvious and probably a waste of time, just came out. They say that record numbers of home owners are walking out on their mortgages even though they can still make payments. I just have one word for this: DUH! Yep, seems that confidence in a rise in home values...

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Goodbye, Tax Credit

Experts are predicting that the expiration of the first time homebuyer tax credit won’t affect sales. Apparently, people will buy even if they can’t get the tax break. It’s a bit bizarre. On the one hand, 90% of consumers surveyed said the tax credits have helped the market. But then 65% of them said the...

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MBA’s Bold New Plan

“History will be kind to me, for I intend to write it.” Winston Churchill I recently told you about Citibank’s new plan to allow delinquent borrowers to remain in their homes for up to 6 months. Well, the MBA (Mortgage Bankers Association) has a new forbearance plan in the works that would up that limit...

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Fannie and Freddie Are Shrinking

It seems the mortgage business might not get more complicated than the mess it already is. At least for a little while. In the latest directive from the supervisor in charge of Fannie and Freddie, they won’t be allowed to introduce new loan products into the market. This is in an effort to control the...

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FHA’s Gone Nuts

FHA’s Gone Nuts

The FHA has gone crazy, making sweeping new changes in several policies. You’ve got to keep these in mind when clients consider FHA loans. Here are some of the most extreme changes: **** Raised up-front costs for insurance **** TRIPLE downpayment requirements **** Cut seller concessions by HALF! The government hopes the new policies will...

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