January 20, 2010 at 02:42 PM · Posted under Glenn Hanon
The Real Estate market is changing fast. Recently the NAR (National Association of Realtors) developed a program that educates agents to become advocates for sellers who find themselves in very difficult waters with their current mortgage, i.e. short sales and foreclosures. A short sale is when a homeowner sells their property for less than the current mortgage balance. The “shortage” is often but not always absorbed by the bank. Because of the growing problem with foreclosures, this option is providing a way out for distressed homeowners and banks who find themselves with a growing inventory of bad mortgages.
The NAR developed the “Short Sales and Foreclosure Resource Certification” (SFR), which 
I was happy to learn more about. Recently I passed the exam and received the SFR certification. I also completed the REO Trans Network training and exams and am now certified to assist with REO inventory (Real Estate Owned) that the banks have assumed. As a leader at Shorewest I believe that continuing education is paramount in addition to assisting clients in this very difficult economy.
If you have further questions about the market give me a call at the office, toll free 1-888-HEY GLEN
Posted by:
Glenn Hanon
Comments
·
Share With a Friend
January 06, 2010 at 12:23 PM · Posted under Karen Trepton
The holiday season may be over, but in real estate, we are focused more than ever on the remaining “shopping days” of the “retail home hunting season!” What I mean by that is, the number of days that are left before the various incentives to assist buyers and sellers expire.
This chart outlines the terms of the credits, and if ever there was a slight, and I mean slight, window of opportunity for a seller’s market, it will be between January and April of this year. April is the deadline for offers to be accepted, in order to receive the tax credits.
Sellers who price their homes aggressively and utilize the various tools that Shorewest has to offer, can propel their sale to the closing table. Shadow foreclosure inventory is expected to increase throughout the year, as are mortgage interest rates. The effect of these issues will be increased depreciation in home values, as well as a softening of buying power. If mortgage rates increase by one percent, a corresponding price reduction of 10% must occur, in order to maintain the same monthly payment in principal and interest on a new home.
This is not all doom and gloom, however. Education is the key. As a Certified Relocation Specialist, and Certified Short Sale and Foreclosure Specialist, it is my duty to educate my buyers and sellers on how to maneuver through these critical months, in order to maximize their buying and selling power.
To find out more about these tax credits and where your goals fit into this ever changing real estate market, consult your tax advisor and give me a call.
Posted by:
Karen Trepton
Comments
·
Share With a Friend
November 03, 2009 at 10:54 AM · Posted under Kelly Kuchta
This is a great place to learn and share with others. If ever you were to have any questions with regards to Short Sales or Foreclosure, feel free to contact us and we’ll try to help. Please take a look at our blogs, website, email or just call us to get valuable information and the best part - your questions are answered for FREE!!
The Kuchta’s - Kelly and Colleen are the ones to call for those difficult questions. Website: goshorewest.com
Cell: 414-651-1613. We hope you have a great day!
All The Best -
Posted by:
Kelly Kuchta
Comments Off
·
Share With a Friend
