The REAinUSA Real Estate Blog

More Cuts in Home Prices?

Fewer home sellers have cut down their home’s listing prices as buyers rushed out to beat the increasing rates of interest and expiring tax credit.

As of the New Year, prices on 21% of homes were cut down at least once, 22% lower from the past month and 25.6% lower from two months ago. The amount of sellers lowering their asking price has gone down to extreme lows since last year while the average discount in homes with price reductions remained unchanged at 11% from the original prices.

If you happen to be a qualified buyer with a secure job, now would be the ideal time to get into the market...

Real Estate Fraud in New Jersey

A man named Wayne D. Puff ran a big Ponzi scheme that was fueled by subprime mortgage free-flowing money and was recently sentenced to 18 years in prison, while ordered to pay out around $100 million to his victims. His was one of the largest real estate frauds in the history of New Jersey.

From 1998 to 2005, 1,200 investors nationwide gave hundreds of millions to his company and he was able to draw in investors through advertisements of guaranteed 15-20% in returns from his real estate business of buying, reselling and renovating.

From offices all over New Jersey, Puff worked with appraisers ...

Values Go Down, Thanks to New Rules of Home Appraisal

Home buyers that take out home loans insured by the government may soon learn that their brokers of mortgage cannot choose appraisers anymore. This has come about to make sure that appraisers do not get pressured into inflating values the of homes.

From next month onwards, brokers of mortgage won’t have the power to order loan appraisals that are FHA-insured anymore. This would mean that consumer home appraisals are going to reflect the value of a home much more closely since brokers that would usually profit from approved loans won’t be choosing appraisers that could declare higher values.

Ho...

Originations of Mortgage are Dropping

It seems that residential mortgage originations are going to drop by 40% this year – the lowest in an entire decade – as the demand for home refinancing drops along with rising rates of mortgage.

Lenders are going to underwrite $1.28 trillion for home loans, compared to the $2.11 trillion of last year; this would be its lowest amount since 2000’s $1.14 trillion.

Although brand new purchase originations may rise a bit from last year’s $742 billion to $776 billion, refinance originations are seen dropping from $1.37 trillion from last year to a mere $502 billion.

Rates of interest are also expec...

Commercial Real Estate – 2010 Predictions

It is the beginning of a new decade, yet somehow, there is still no actual clarity as to where things are headed in the world of real estate and whether the market will get to save itself from the mess it still finds itself in.

Values of commercial real estate were at its highest in 2007 but have dropped by 43.7% last year – the most dramatic drop so far.

Good news seemed to peak out of the shadows when the decline slowed down and the volume of transaction began to pick up. Sadly, these huge value declines are quite difficult to manage in an effective manner. Because of this, the same commerci...

La Jolla real estate outlook

Team Aguilar real estate, one of the leading real estate sellers in La Jolla, has released home sales year-to-date figures that indicate optimism in the La Jolla real estate outlook for home buying activity in 2010. It has reported a 14% rise in volume of properties the company sold so far this year.

TARE is selling homes in residential areas in and around La Jolla, including San Diego (the third busiest property markets in the US, as identified by the Wall Street Journal) and other neighborhoods along the coastline of Southern California. Its properties sold include oceanfront homes, neighbor...

Is Fannie Mae Overpricing Properties in California?

A growing number of real estate deals have been falling apart across California – agents and sellers put the blame solely at the feet of government backed mortgage giant Fannie Mae. The tax payer supported company has been accused of over-pricing homes across the state, killing many short-sale deals and forcing the sellers to enter foreclosure.

Why would the biggest mortgage lender in the nation be purposely scuppering deals in a time when it should be encouraging market recovery? The answer is complicated.

While Fannie Mae has a vested interest in helping homeowners avoid foreclosure through ...

4 Keys When Screening Tenant Applicants!

Whenever you are looking to switch up your renters, you want to make sure that you understand exactly what screening your tenants mean.  Landlords are generally the ones that are taking a huge risk whenever they allow someone to live in their home without really and truly knowing the person.  Well – I can tell you for sure that there are a few things that you want to make sure that you are doing before you sign a lease.

Firstly, you always want to make sure that you keep it legal.  If you do not have a lawyer, make sure that you get one, that way you can make sure that everything that goes int...

Buying and Selling Your Home

Home buyers: although we are coming up on a brand new year, that does not mean that all of our past problems in the housing industry will be laid to rest.  You still need to be extremely careful.  Consider why you are buying a home in the first place.  Do you intend to flip it, as it were, and then sell it for a larger profit?

If so, it is enormously important that you make absolutely sure that you can truly get a profit.  It is a buyer’s market only in some instances.

For those of you who are selling your home, you need to be careful as well.  It is more important than ever to make a good imp...

Landlord Repairs: The Steps!

In this day and age it seems that everyone is renting simply because it is so expensive to buy anything.  Did you know that when you rent something, when something goes wrong in the apartment, you – as a tenant is not responsible to fix it or pay for it to be fixed?

Over the weekend, our hot water went out and our landlord was out of town.  What do you do in a situation like that?  Well, that is what we are going to talk about in this blog.  One of the first things that we did was attempt to contact the real estate agent, as they are the ones that I thought to go to first.

Next – I e-mailed th...

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