California Lending Rate | Kristin Duncan | Short Sale Negotiation | Transaction Coordinator
California Lending Rate | Kristin Duncan | Short Sale Negotiation | Transaction Coordinator As the employment situation continues to raise concerns, fixed rates fell even lower, slipping yet again to new record-lows, according to a survey from Freddie Mac released Thursday. The 30-year fixed-rate mortgage averaged 3.67 percent (0.7 point) for the week ending June 7, falling from last week’s average of 3.75 percent. Last year at this time, the 30-year fixed was 4.49 percent. The 15-year fixed rate declined even further below 3 percent to 2.94...
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Kristin Duncan | Short Sale Negotiation | Transaction Coordinator According to Radar Logic, the RPX Composite price, which tracks home prices in 25 major metropolitan areas, showed a 1.8 percent increase on a monthly basis, but decreased by 0.87 percent year-over-year in March. With distressed homes remaining a significant portion of home sales transactions, Radar Logic said the significant discounts for distressed properties in relation to non-distressed means a further fall in prices. According to RealtyTrac, homes in foreclosure or...
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Kristin Duncan | Short Sale Negotiation | Transaction Coordinator Orange County CA home selling stays hot with fast buyers climbing over each other at market to find a good deal. This buyer excitement creates lots of competition for foreclosures and popular properties priced at under $750k. Orange County has only 14 days of average market time on foreclosure listings. Only 206 foreclosure listings are now on the market – which is a 67 percent drop in past five months since start of this year. Foreclosure listings are selling at full asking...
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Kristin Duncan | Short Sale Negotiation | Transaction Coordinator Short Sale Market Watch Short sales and huge inventories of bank-owned real estate properties continue to put downward pressure on home prices, according to data released today by California-based analytics company CoreLogic. Fifty-seven of the 100 largest statistical areas based on population posted year-over-year declines in March. Nationally, CoreLogic’s March Home Price Index report shows prices fell 33.7 percent in March 2012, from their peak in April 2006. Home...
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Kristin Duncan | Short Sale Negotiation | Transaction Coordinator Orange County Escrows May 2012 The following update on local real estate information is based on Multiple Listing Service data as of Friday. BREA Properties available: 61 Condominiums: 6 Houses: 55 Short Sales and REOs: 18 Average condo price: $333,983 Average house price: $611,393 Average time on the market: 90 days for condominiums; 72 days for houses Available properties by price range: Under $399,999: 10 $400,000 – $699,999: 40 $700,000 – $999,999:...
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Kristin Duncan | Short Sale Negotiation | Transaction Coordinator Homeowners HATE Agents and LOVE Banks I know that people want some kind of categorical conclusion that there is a conspiracy brewing that is magically keeping them out of the hearts and minds of homeowners. I will concede that banks hold back a great deal of credit data so that they have the “first right of refusal” option to try and get a loan modification implanted into their minds. However there is NO SUCH THING as true bank conspiracy. There is true collection...
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