November 2009 
There are 8 blog entries for November 2009.
Is Permanent Relief Too Good To Be True?
Monday, November 30th, 2009 at 8:46pm. 160 Views, 0 Comments.
Today’s announcement that the Obama Administration plans on forcing mortgage companies to permanently reduce monthly payments for troubled homeowners was met by a mixed reaction. While the action’s sponsor, the White House, said one thing, many others took a more realistic wait and see attitude.
The Department of Housing and Urban Development’s (HUD) new initiative is part of the Administration’s efforts to provide relief for homeowners who are laboring to pay their mortgages, and is another piece of the effort to stabilize the housing market. The initiative, according to HUD, wants to extend to those already receiving trial modifications to their home loan, a permanent modification to their mortgage. In simple language, what does that mean? A…
Our Economic Helter Skelter
Thursday, November 26th, 2009 at 1:41am. 192 Views, 0 Comments.
“Sooner or later in life, we all sit down to a banquet of consequences.”
Robert Louis Stevenson
Is a Federal Housing Administration(FHA) crisis on the horizon? With FHA’s insurance reserve ratio falling to the lowest level in history, at 0.53 percent, there are some who believe the FHA is the next subprime crisis waiting to happen. One of those is homebuilder, Toll Brothers Inc., CEO, Robert Toll. Toll predicts that just like the failed bank bailouts, the FHA will be next in the handout line. And, with the reserve ratio as low as it is, he may be on to something. According to a Congressional mandate, the ratio should be no lower than 2.0
In addition to the alarming FHA news, this week’s Wall Street Journal reported that nearly 25 percent of…
More Good News
Monday, November 23rd, 2009 at 7:19pm. 149 Views, 0 Comments.
Invariably, in the course of conversations with friends, one of the topics that normally arises, is the subject of the homes. Usually, the mention comes in the form of, “How’s the housing market?”
Other than the dramatic shock to financial markets during the year following the height of the housing market and subsequent rapid fall in home prices, the sales market has been fairly predictable. Once lenders got a grip on the deluge of foreclosures and short sales, and this glut of properties began to be adequately handled by them (O.K…so, they’ve still got problems with Short Sales, but they’re getting there), the housing market has been relatively stable.
Today’s latest news on the surge in home sales isn’t news to those of us in the business. As one…
It’s The Simple Things
Sunday, November 22nd, 2009 at 10:05am. 134 Views, 0 Comments.
Do you have a favorite season of the year? While many of us like something about each of the four seasons, Fall, or Autumn is probably the one I enjoy the most.
It’s cool mornings and evenings, beautiful natural colors, and inkling of the coming holidays, seems to invigorate a sense of better things yet to come. Around Stafford and Fredericksburg, for many, it’s jacket weather (for others, coats), and the stunning colors are second to none.
How about you, what is your favorite season?
Celebrating Americana on the Half Shell
Sunday, November 15th, 2009 at 8:48pm. 177 Views, 0 Comments.
"The first man gets the oyster, the second man gets the shell"
Andrew Carnegie
Fortunately, during last weekend's 52nd Urbanna Oyster Festival, there were plenty of oysters to be had, even for those in the back of the line. Everyone had loads. And, most of us, way too many! If you've not had the chance to venture to Urbanna, Virginia, for the annual oyster celebration, you're not only missing great food, but also a special glimpse of small town America.
Urbanna is located in Virginia's Northern Neck, which is situated North of Williamsburg, and Southeast of Fredericksburg, hugging the Chesapeake Bay.
It's been called a "historic town", and, in many ways, it is. It's among the places you'll see on the National Register of Historic…
Home Buying and Selling Help From Uncle Sam
Monday, November 9th, 2009 at 3:44pm. 188 Views, 0 Comments.
In times like these, all of us appreciate a bit of assistance. Fortunately, the government has taken steps to extend a couple of programs designed to assist home sellers and buyers. The first is the Housing Assistance Program (HAP) for military personnel selling their home, the second is the First Time Home Buyer Credit, specifically for those purchasing property.
The Department of Defense’s (DoD) HAP offering is designed to provide financial assistance to its personnel who have to move, and will lose money upon selling. Due to the dramatic decrease in home values in recent years, this program was originally designed to provide financial relief to those required to move due to DoD’s Base Realignment and Closure (BRAC) initiative. It expanded to…
Cleaning Up the Short Sale
Thursday, November 5th, 2009 at 5:13pm. 213 Views, 0 Comments.
Have you ever been in an uncomfortable position or arrangement that you couldn’t get yourself out of? If your answer is no, then lucky you. Most of us have run into these predicaments a time or two. So, what’s the solution? What steps can you take to try and improve a difficult situation you might be stuck in. And, no, divorce is NOT an option.
Let’s be honest, the “Short Sale” isn’t going anywhere. I know what you’re thinking, “Of course it isn’t going anywhere(in other words, no action by the lender!)”, but, what I mean to say is, they’ll be here for a while. In other words, we’ll be seeing plenty more of them in the the next few years. As long as the economic downturn is with us, there will be homeowners in states of distress who are unable to…
First Things First in Real Estate Practice
Monday, November 2nd, 2009 at 6:45am. 157 Views, 0 Comments.
Most of us that have served time in the military have been the beneficiary of training that develops skills that serve us well for the remainder of our lives. One of those skills is punctuality.
Recently, I attended a local Real Estate Expo. Arriving early provided me the opportunity to spend a few minutes discussing the state of real estate practice with the event’s featured speaker, who is recognized as one of the nation’s premier coaches in real estate. During our short exchange, I mentioned the need for better training, and much more demanding pre-licensing requirements for Realtors. The speaker agreed, but indicated that real estate leadership, national and local, would never let that happen for one simple reason – MONEY. Extending the…
Beware The Shadow
For months, we’ve been expecting the next wave of foreclosures to hit the market. With a record number of homeown... 1Comments Read MoreBuilt for Military Home Sellers
Since the height of the market in the summer of 2006, homes prices across the United States have fallen a great deal. ... Add Comment Read MoreHow Did You Determine That Listing Price?
Successfully selling homes isn’t rocket science. Or, is it? Does a home sell itself, or is smart market... Add Comment Read MoreWe're always on the lookout for talented real estate agents to join our growing team.
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