May 14
Shadow Inventory: 46 Months to Clear Distressed Housing Supply
Tom Scaglione, ePRO, SFR, REALTOR
May 14
Florida Seeing Rapid Revivals but Still Haunted by Shadow Inventory
Florida Seeing Rapid Revivals but Still Haunted by Shadow Inventory
As one of the hardest hit states during the real estate downturn, Florida often pops up in market reports as having a noticeably higher foreclosure rate than other states. Even so, the state is also becoming recognized for how quickly some of its markets are climbing out of the housing slump. For example, the National Association of Realtors recently cited data from Move Inc. showing the top 10 turnaround markets. Seven out of 10 were in Florida. Yet, a recent report from Florida Realtors stated that while Florida is in a revival period, distressed properties will remain a big factor for the next 10 years. » Read More <<< Click Here
Tom Scaglione, ePRO, SFR, REALTOR
http://www.RealEstateTom.com
http://www.WaterfrontFlaHomes.com
http://www.MillionDollarFlaHomes.com
May 10
Have you waited too long?
Fiserv Expects Home Prices to Stabilize This Year Despite Price Declines
Analyzing the housing market through the perspective of 384 markets, Fiserv Case-Shiller Indexes pointed to a slow, but steady pace toward recovery after dramatic price declines. According to the Fiserv indexes, in the fourth quarter of 2011, home prices in 70 of the 384 metro areas tracked were either unchanged or had increased compared to the same quarter a year ago. Also, 122 of the metros saw prices decline by less than 2 percent. On the other hand, nearly one-half of the metro areas, or 191, saw prices decrease by more than 2 percent. » Read More <<<Click Here
If you are ready:
http://www.MyTampaBayMLS.com
http://www.WaterfrontFlaHomes.com
http://www.MillionDollarFlaHomes.com
May 09
You need to call your BofA Modification Department
BofA to Offer Principal Writedowns to 200K Delinquent Borrowers
Bank of America began mailing out more than 200,000 letters this week targeting borrowers thought to be eligible for principal-reducing modifications under terms of the settlement reached with the federal government and 49 state attorneys general. To be eligible, a homeowner must owe more on the mortgage than the property is worth today and must have been at least 60 days behind on payments on January 31, 2012. BofA estimates average monthly savings of 30 percent for qualifying customers. » Read More CLICK HERE
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Tom Scaglione, ePRO, SFR, REALTOR(r)
Future Home Realty, REALTORS(r)
Cell: (813) 310-8200 – Fax: (813) 909-2915
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~ Tampa Bank Owned Team ~
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Certified Bank Owned Sales Specialist
Certified Short Sale Specialist
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Tom@RealEstateTom.com
Tom@TBORealEstate.com
Tom@REOTampaBay.com
http://TBORealEstate.com
http://Facebook.com/Tom.Scaglione
http://twitter.com/TomScaglione
http://RealEstateTampaBayBlog.com
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Apr 23
Lenders that Sell Short Sales Faster and for Less, According to RealtyTrac
Lenders that Sell Short Sales Faster and for Less, According to RealtyTrac
Pursuing a short sale is often thought of as a painstaking process, and it’s not uncommon to hear of complaints about slow responses from banks and last minute rejections on offers. Fortunately, not all lenders/servicers are the same when it comes to dealing with short sales, and RealtyTrac compiled a list of data revealing which institutions seem to move through the process quicker and for less. Fannie Mae, Freddie Mac, and FHA had the shortest timelines at 193 days in January 2012, a decrease compared to a year ago in January 2011, when short sales averaged 248 days. The short sale timeline includes the time a property starts the foreclosure process to the time it’s sold as a pre-foreclosure property. » Read More <<< Click Here
Tom Scaglione, ePRO, SFR, REALTOR(r)
Future Home Realty, REALTORS(r)
Cell: (813) 310-8200 – Fax: (813) 909-2915
.
~ Tampa Bank Owned Team ~
.
Certified Bank Owned Sales Specialist
Certified Short Sale Specialist
.
Tom@RealEstateTom.com
Tom@TBORealEstate.com
Tom@REOTampaBay.com
http://TBORealEstate.com
http://Facebook.com/Tom.Scaglione
http://twitter.com/TomScaglione
http://RealEstateTampaBayBlog.com
>http://MyTampaBayMLS.com
Apr 16
Eleven AGs Send Letter Urging DeMarco to Reverse Course
Eleven AGs Send Letter Urging DeMarco to Reverse Course
Eleven state attorneys general sent a letter to Edward DeMarco, Acting Director of the FHFA, urging him to allow Fannie Mae and Freddie Mac to move forward with principal reductions. Headlined by Massachusetts Attorney General Martha Coakley, the letter doubled down on the FHFA to “preserve assets and prevent unnecessary foreclosures by implementing loan modifications that include principal write-downs.” State attorneys general said that new reductions “should consider all of a borrower’s debts, not just the monthly mortgage debt, be uniform, transparent, and publicly disclosed.” » Read More <<< Click Here
Tom Scaglione, ePRO, SFR, REALTOR(r)
Future Home Realty, REALTORS(r)
Cell: (813) 310-8200 – Fax: (813) 909-2915
.
~ Tampa Bank Owned Team ~
.
Certified Bank Owned Sales Specialist
Certified Short Sale Specialist
.
Tom@RealEstateTom.com
Tom@TBORealEstate.com
Tom@REOTampaBay.com
http://TBORealEstate.com
http://Facebook.com/Tom.Scaglione
http://twitter.com/TomScaglione
http://RealEstateTampaBayBlog.com
http://MyTampaBayMLS.com
Mar 28
70% of renters think owning makes more sense
70% of renters think owning makes more sense
Fannie Mae 4Q survey: Money holds back renters, but 2/3 expect to buy some day. Perceived investment value declines. Read more... <<<Click Here
Mar 22
First and Second Lien Holders to Share Losses Through Settlement
First and Second Lien Holders to Share Losses Through Settlement
Details of the $25 billion settlement involving state and federal officials and the five largest servicers will change how liens are prioritized, and in turn, opponents say, will benefit banks but hurt investors. Typically, in cases involving delinquent loans, the second liens are written off before a first lien takes any losses. Under the settlement, first and second liens will share in the losses equally, with both getting written down proportionally instead of wiping out the second lien, which tends to yield a higher return since it includes a higher risk. » Read More <<< Click Here
Mar 05
Treasury Reinstates HAMP Incentives as Servicers Show Improvement
Treasury Reinstates HAMP Incentives as Servicers Show Improvement
Treasury says servicers participating in the Home Affordable Modification Program (HAMP) are getting better at evaluating homeowners for eligibility. Its latest performance assessment found no company in need of “substantial improvement.” OneWest Bank and Select Portfolio Servicing performed at the highest level, needing only minor improvement. As part of the $25 billion settlement announced last month, Treasury has agreed to release incentives previously withheld from Bank of America and JPMorgan Chase. » Read More <<< Click Here
Tom Scaglione, ePRO, SFR, REALTOR(r)
Future Home Realty, REALTORS(r)
Cell: (813) 310-8200 – Fax: (813) 909-2915
.
~ Tampa Bank Owned Team ~
.
Certified Bank Owned Sales Specialist
Certified Short Sale Specialist
.
Tom@RealEstateTom.com
Tom@TBORealEstate.com
Tom@REOTampaBay.com
http://TBORealEstate.com
http://Facebook.com/Tom.Scaglione
http://twitter.com/TomScaglione
http://RealEstateTampaBayBlog.com
http://MyTampaBayMLS.com
Mar 04