NeighborCity®, an online residential real estate service, will now be offering its users a matching system where they can choose which real estate agent they want based on an overall score developed through a series of rating dimensions they choose.
This is thought to be the first avenue available that the consumer can pick an agent based on performance and not through third party references. This program is called AgentMatch and provides the user with graphs and analytics so they can see an overall view of the agent's history. The user can then compare the overall score to other agents within their location group.
To learn more about NeighborCity's AgentMatch, check out their website HERE
Saturday, April 28, 2012
Wednesday, April 25, 2012
Potential Bankruptcy Ahead for Ally Financial
As reported by the New York Post, Ally Financial appears to possibly be sending its mortgage unit, ResCap, into bankruptcy. Ally is facing a debt payment due May 14th which they currently do not have the funds to pay.
Ally Financial was formerly known as GMAC, until it changed its name to Ally Financial in May of 2009. A hefty bailout was given to Ally during the 2008 financial crisis, $12 billion of which is still owed to the government. Top executives of Ally have been ordered to have their annual salaries reduced by 10 percent due to the large amount of money the company still owes the US government.
An Ally spokeswoman did not comment to the New York Post regarding the bankruptcy references but speculation is still in the air as the company appears to have little to no other options with the amount of time on the table.
Ally Financial was formerly known as GMAC, until it changed its name to Ally Financial in May of 2009. A hefty bailout was given to Ally during the 2008 financial crisis, $12 billion of which is still owed to the government. Top executives of Ally have been ordered to have their annual salaries reduced by 10 percent due to the large amount of money the company still owes the US government.
An Ally spokeswoman did not comment to the New York Post regarding the bankruptcy references but speculation is still in the air as the company appears to have little to no other options with the amount of time on the table.
Sunday, April 22, 2012
2012 Nationwide Open House Event
Calling all real estate agents- looking to showcase your properties? Look no further than the 2012 Nationwide Open House Event on April 28th and 29th. This event began in King County in Washington State through the Snohomish Association of Realtors in 2007 and has now become, not only a nationwide event, but a worldwide phenomenon that has spread across 13 countries!
This event is advertised as a time to not only showcase homes that you may have for sale but to also learn about other properties through discussion of current conditions, financing, improvements and other related advice the numerous real estate professionals are able to provide. Learn more about your local opn house event through your real estate agent or current mortgage company.
This event is advertised as a time to not only showcase homes that you may have for sale but to also learn about other properties through discussion of current conditions, financing, improvements and other related advice the numerous real estate professionals are able to provide. Learn more about your local opn house event through your real estate agent or current mortgage company.
Tuesday, April 17, 2012
HUD Announces Indefinite Debarement of Reverse Mortgage Scam Participants
Three loan officers and one title agent, all in South Florida, were given indefinite debarment from HUD from charges of wire fraud through a reverse mortgage scam. The four individuals, Marcos Echevarris, Louis Gendason, John Incandela and Kimberly Mackey, are all banned from ever conducting business with the federal government.
Not only did the three loan officers persuade financially inadequate elderly borrowers to refinance but Mackey, licensed title agent, failed to pay off the borrowers existing loans during closing with false HUD-1 Settlement documents.
This scheme effected elderly borrowers in 7 different states from May 2009 to November 2010.
Not only did the three loan officers persuade financially inadequate elderly borrowers to refinance but Mackey, licensed title agent, failed to pay off the borrowers existing loans during closing with false HUD-1 Settlement documents.
This scheme effected elderly borrowers in 7 different states from May 2009 to November 2010.
Thursday, April 12, 2012
South Florida Real Estate Shows a Glimmer of Light
There may be hope for South Florida. Today, the Miami Herald released an article focusing on the decrease in bank-owned and foreclosure set homes ruling the real estate market. A year ago, these distressed properties totaled 70 percent of the listings while now, regular for sale homes are taking half the selling market. This seems like quite the step up in one year.
A Miami brokerage released some statistics showing that single-family homes in Dade county increased price by 26 percent from the beginning on 2011 to 2012, most likely due to the 17 percent decrease in distressed properties.
To read more about this topic from the Miami Herald, Click HERE
A Miami brokerage released some statistics showing that single-family homes in Dade county increased price by 26 percent from the beginning on 2011 to 2012, most likely due to the 17 percent decrease in distressed properties.
To read more about this topic from the Miami Herald, Click HERE
Tuesday, April 10, 2012
New Mortgage Servicing Rules to Improve Foreclosure Rates
Today, the federal government proposed some new foreclosure rules for the countless homeowners facing losing their homes. The rules, proposed by the Consumer Financial Protection Bureau, require mortgage servicers to provide homeowners with standardized statements every month in addition to warnings regarding their interest rates and insurance.
This may be a long awaited response to the problems plaguing the mortgage servicers for years and retrospectively homeowners. Record keeping and security will also be addressed within the rules estimated to be finalized by January of 2013. The Bureau hopes that improving the issues of communication and trust between the servicers and borrowers will lead to a decrease in foreclosure rates.
This may be a long awaited response to the problems plaguing the mortgage servicers for years and retrospectively homeowners. Record keeping and security will also be addressed within the rules estimated to be finalized by January of 2013. The Bureau hopes that improving the issues of communication and trust between the servicers and borrowers will lead to a decrease in foreclosure rates.
Friday, April 6, 2012
10 Most fun and Affordable Cities in the U.S.
MSN released the 10 Most Fun and Affordable cities and NC and SC made 3 of the 10 spots! Check out the list here:
1. Ocean City, MD
2. Ala Moana-Kakaako, Honolulu
3. Tempe, AZ
4. Scottsdale, AZ
5. Greenville, SC
6. Sacramento, CA
7. Wilmington, NC
8. Anchorage, AK
9. Makiki, Honolulu
10. Winston-Salem, NC
To see all the statistics for each one of these cities, click HERE
1. Ocean City, MD
2. Ala Moana-Kakaako, Honolulu
3. Tempe, AZ
4. Scottsdale, AZ
5. Greenville, SC
6. Sacramento, CA
7. Wilmington, NC
8. Anchorage, AK
9. Makiki, Honolulu
10. Winston-Salem, NC
To see all the statistics for each one of these cities, click HERE
Wednesday, April 4, 2012
The Most Unconventional Apartment Complexes in the World
Here are some of the weirdest, most unique and most unconventional apartment complexes in the world:
Container City, London
Apartments made of steel shipping containers
MVRDV Stackable High Rise, Copenhagen
A leaning, glass covered skyscraper
Old High School Commons, Massachusetts
Container City, London
Apartments made of steel shipping containers
MVRDV Stackable High Rise, Copenhagen
A leaning, glass covered skyscraper
Old High School Commons, Massachusetts
Former two-story high school turned into a 15 unit complex
Hundertwasserhaus, Vienna
52 resident apartments built in abstract colors and shapes equipped with foliage sprouting
Destiny Lofts, Toyko
A play-land inspired loft apartment block
Sunday, April 1, 2012
Spring Home Buyer Season in Full Bloom
The warm weather of spring and summer has kicked in early this year, causing the home buying season to begin. February already beat last year's home sales by 9 percent, and the National Association of Realtors predicts it will continue to rise. In fact, the 4,300 real estate agents surveyed in February showed that single family home market confidence is at its best since 2008.
Home prices are fluctuating throughout the nation but many metropolitan areas seem to be rising and are predicted to continue on this path. According to Standard and Poor's Case-Shriller index of 20 U.S. cities: Denver, Phoenix and Detroit all showed annual home price gains.
The home buying spring season that typically spans from March to June started early this year and can been seen through the 25 percent of home bought in February by investors. It appears that more home buyers who have been waiting to sell due to home values and pricing have stepped into the market.
Home prices are fluctuating throughout the nation but many metropolitan areas seem to be rising and are predicted to continue on this path. According to Standard and Poor's Case-Shriller index of 20 U.S. cities: Denver, Phoenix and Detroit all showed annual home price gains.
The home buying spring season that typically spans from March to June started early this year and can been seen through the 25 percent of home bought in February by investors. It appears that more home buyers who have been waiting to sell due to home values and pricing have stepped into the market.
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