Tuesday, September 7th is Foreclosure Tuesday. Here is a quick look at the Houston area foreclosure stats: Posted Homes for Foreclosure Posted foreclosures for the Greater Houston Area total 6,689 which is a 43% jump from last month’s 4,478. Galveston County continues to rocket forward with a 53.7% increase over August’s posted foreclosures. Fort Bend County was [...]
Houston area foreclosure stats for August 2010
July 27, 2010 By Leave a Comment
Tuesday, August 3rd is Foreclosure Tuesday. Here is a quick look at the Houston area foreclosure stats: Posted Homes for Foreclosure 226 – Brazoria County (Pearland, Alvin, Lake Jackson, etc.) 586 – Fort Bend County (Missouri City, Sugar Land, Richmond, etc.) 244 – Galveston County (Galveston, Clearlake, Texas City, etc.) 3,361 – Harris County (Houston, Pasadena, Baytown, [...]
New Real Estate “sales” or “transfer” Tax in ObamaCare!
July 22, 2010 By Leave a Comment
Several folks have asked and now we have an answer. Yes, if you are part of the evil rich class whose income will be more than $200,000 in the year you property – YES even your homestead – you might be looking at a 3.8% tax in 2013. The Health Care and Education Reconciliation Act [...]
Flood insurance extended again and is retroactive
July 1, 2010 By Leave a Comment
FINALLY!!! For those in our area that work the direct coastline like Galveston, Brazoria, Chamber & Jefferson County this is a much needed “bill.” The U.S. Senate has passed the National Flood Insurance Program Extension Act of 2010 (H.R. 5569) an extension of the National Flood Insurance Program until September 30, 2010. The House already [...]
Congress approves 3 month extension of tax credit for buyers
July 1, 2010 By Leave a Comment
Hot off the AP press…collect your checks as you pass go WASHINGTON — Congress has sent President Barack Obama a plan to give homebuyers an extra three months to finish qualifying for federal tax incentives that boosted home sales this spring. The legislation would give buyers until Sept. 30 to complete their purchases and qualify [...]
REALTOR faces jail time for bad Short Sale
June 16, 2010 By 3 Comments
Over and over we counsel agents against “gaming” the system to make extra money. In Houston, we are aware of a “Short Sale Specialist” that works both sides of the transaction to make more money. BEWARE!! As an agent you have a fiduciary responsibility to your homeowner/seller. DO NOT try to “flip” the property to [...]
Bank of America’s equator system reduces chance to successfully close short sales – PART 2
June 7, 2010 By 2 Comments
Homeowners & agents nationwide are confused. What is Equator and how does it impact my short sale? In this blog let’s examine the negatives and then finally what to do with Equator. Thinking about taking on a new short sale? REALTORS take note, Equator is the new “in thing” for Bank of America and [...]
Bank of America’s equator system reduces chance to successfully close short sales – PART 1
June 4, 2010 By 8 Comments
I’ve been asked to write an update on Equator. Homeowners & agents nationwide are confused. What is Equator and how does it impact my short sale? In this blog let’s examine the positives…up next the negatives and then finally what to do with Equator. PART 1 Thinking about taking on a new short sale? [...]
Ocwen’s President Ronald Farris gets caught saying he WANTS to foreclose homes versus help the homeowner
May 19, 2010 By 3 Comments
This is a perfect example of how the mortgage servicers, like Ocwen, don’t really care about helping homeowners in regards to short sales. We take calls all day long in our office from homeowners and Realtors who are frustrated with the short sale process. HELLO!! It is easier for the bank to simply [...]
