A recent court decision in Nevada has put mortgage lenders and housing associations at odds over the sale of foreclosures in a case that could have implications nationwide, The Wall Street Journal reports.
That proves the foreclosure crisis isn’t over in every market quite yet. Default notices in the third quarter rose from a year ago in 10 states, including Indiana (up 59%); Oklahoma (49%); Massachusetts (38%); New Jersey (19%); Iowa (12%); and New York (2%).
"Mortgage rates were down sharply following the decline in the 10-year Treasury yield for the second straight week,” says Frank Nothaft, Freddie Mac’s chief economist.
College towns have long been known as havens for investors looking to cash in on rentals or turn a profit on a home flip. RealtyTrac recently ranked the best college towns for flippers in 2014.
You might want to take a closer look at your listing’s curb appeal: Upgrading a home’s landscape from average to excellent can raise its overall value by 10 percent to 12 percent, according to research from Virginia Tech.
Here’s a reference guide of new programss (as of mid-September 2014) that you can recommend to new buyers, move-up clients, and home owners who want to refinance. But always advise your clients to check with lenders or mortgage brokers for the latest terms and conditions of any loan product.
But the fine print may cause some buyers to pause. The home doesn’t come with any land. The listing says: “Buyer must purchase and move building from current site.”
Luxury ski homes have seen prices rise by nearly 6 percent over the last year, as they’re increasingly being courted by the wealthy’s top 1 percent.
“When comparing residential tax bills across states it is important to consider government financing,” researchers note at the National Association of Home Builders’ Eye on Housing blog. “Property taxes may represent 40.3 percent of state and local tax receipts, but some states rely less heavily on property taxes as a source of revenue than others.”