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Recent Posts
- The Real Estate Market Year in Review: How’d We Do?
- Green-Building Basics: Understanding the Various Certifications
- Ode to De-cluttering: Ringing in the New Year Right
- Highlights of the Latest Broker Tour in Sisters
- Tumalo, Oregon Real Estate Market Report for December 2011
- Sisters, Oregon Real Estate Market Report for December 2011
- Tumalo, Oregon Real Estate Market Report for November 2011
- Sisters, Oregon Real Estate Market Report for November 2011
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Category Archives: Short Sale Info
Foreclosure Prevention Workshops Scheduled at NeighborImpact
NeighborImpact, the private nonprofit organization dedicated to serving economically challenged Central Oregonians, offers a Foreclosure Prevention Workshop once every three weeks.
The workshops are designed to address the educational needs of residents who are unable to make their mortgage payments or anticipate having trouble making their payments in the future. Continue reading
How’s the Market? 1st Quarter 2011 Real Estate Market Statistics for Central Oregon
COAR, our local MLS affiliate, recently released the first quarter real estate market statistics for Central Oregon, which tracks year-on-year activity from 2007 through 2011. Not surprisingly, those numbers tell quite a story -– we’ve experienced a pretty bumpy ride in the past five years. Continue reading
Central Oregon’s Foreclosure Activity for December 2010
Each month, RealtyTrac keeps tabs on all publically recorded foreclosure-related activities — notices of default, foreclosure auction notices and bank repossessions — throughout the country. They also post “foreclosure home” listings -– short sales; bank and trustee auctions; and REOs, along with traditional listings across the country. They make their statistics available on their website on a state-by-state basis (which is then also broken down by county).
Nevada has the dubious honor of having the country’s highest rate of foreclosure: One in 11 homes in Nevada (more than 9 percent of its housing units) received at least one foreclosure filing in 2010.
In December, 1 in every 84 housing units in Nevada (13,472 homes) received a foreclosure filing; there were 74,526 foreclosure homes for sale in Nevada in December, with an average sales price of $133,495.
RealtyTrac’s December Foreclosure Stats for Oregon:
* There were 28,534 foreclosure homes on the market, with an average sales price of $184,722.
* 1 in every 583 housing units received a foreclosure filing (i.e., default notice, foreclosure auction notice or bank repossession) in December.
* Multnomah County had the most filings (490), followed by Washington (423), Clackamas (338), Deschutes (312) and Jackson (199).
Deschutes County update for December:
* There were 3,544 foreclosure homes on the market, with an average sales price of $154, 289.
* 1 in every 250 housing units received a foreclosure filing in December.
* Of the county’s 312 new foreclosure filings, Bend had the most, with 192, followed by Redmond (86), then La Pine (21), then Sisters (13).
Jefferson County update for December:
* There were 235 foreclosure homes on the market.
* 1 in every 420 housing units received a foreclosure filing in December.
* Of the county’s 24 new foreclosure filings, Terrebonne had the most, with 11, followed by Madras (8), Culver (4), and Camp Sherman (1).
Crook County update for December:.
* 1 in every 367 housing units received a foreclosure filing in December.
* Of the county’s 27 new foreclosure filings, Prineville had the most, with 11, followed by Powell Butte (4).
Continue reading
Highlights of RealtyTrac’s Year-End Foreclosure Report for 2010
There were quite a few interesting tibits in RealtyTrac’s year-end 2010 U.S. Foreclosure Market Report, released Jan. 13. For starters, a record 2,871,891 U.S. properties received foreclosure filings in 2010. That figure shows an increase of nearly 2 percent from … Continue reading
More Borrowers Now Eligible for HAFA Program
A recent policy update to the Treasury Department’s HAFA (Home Affordable Foreclosure Alternatives) program will mean that more borrowers will be eligible to participate in the Obama Administration’s short sale program.
Here’s a closer look at some of the changes:
* Servicers are no longer required to verify a borrower’s financial information
* A borrower’s reason for relocation no longer must be related to employment ; also, there is no longer a minimum distance requirement.
* A borrower may have moved up to 12 months before certain dates in the HAFA process but may not have purchased another home.
* Servicers aren’t required to determine if the borrower’s total monthly mortgage payment exceeds 31 percent of their gross income. However, borrowers will still be required to show a hardship.
* Servicers are now required to communicate approval, disapproval or a counter-offer no later than 30 calendar days after receiving the following: an executed sales contract, Alternative Request for Approval of Short Sale and a signed Hardship Affidavit.
* If an unsolicited borrower requests HAFA, the servicer has 30 calendar days to determine the borrower’s eligibility and, if eligible, send the borrower the Short Sale Agreement.
* HAFA will no longer impose a 6 percent cap on payments to each subordinate lien holder. The $6,000 aggregate limit is still in effect.
Servicers can initiate these changes immediately and must implement them by Feb. 1.
Hopefully, these changes will mean more short sales approvals — it’s still rough going with a lot of the lenders. Continue reading
Posted in For Sellers, Short Sale Info, Uncategorized
Tagged Distressed Property Info, short sale information
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Distressed Market Update for Sisters, Oregon – Sept. 2010
Unlike much of Central Oregon (where distressed properties comprise up to 30 percent of the active real estate market), traditional sales continue to dominate the Sisters real estate market. Here’s the latest breakdown, as of Sept. 10, 2010: Continue reading
Is the Right Short Sale Agent Working for You?
I saw the following video recently, and it really struck a chord with me. I’ve worked both sides of the short sale, representing buyers as well as sellers. And, although this clip takes a humorous approach to the topic, it’s all all too real problem that will only be solved when every real estate agent out there becomes better educated — through both training and experience — in short sales. Too many are just dabbling in the process, and it’s those agents’ clients who suffer as a result of their ignorance. Continue reading
Homebuyer Tax Credit Closing Deadline Extended
The reprieve that many American home buyers were hoping for has indeed materialized: Those eligible for a federal Homebuyer Tax Credit have until Sept. 30 to close the transaction and receive the credit. Continue reading
Posted in For Buyers, Short Sale Info
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Foreclosure Forum Scheduled in Bend
Today, the Oregon Housing and Community Services department begins hosting a series of public forums across the state designed to determine how best to provide assistance to Oregon homeowners facing foreclosure. Continue reading
