Stewart HTEN top
Deonna Sheffield
RE/MAX By The Lakes
972-922-6046
1502 W. Kirby, Wylie, TX 75098 Phone: 972-442-1277 Fax: 972-499-2437 RE License #: 0599871
FEBRUARY-2010
Housing Trends eNewsletter is filled with local and national real estate sales and price activity provided by MLSs and the National Association of Realtors, U.S. Census Bureau key market indicators, housing market video reports, blogs, real estate glossary, maps, mortgage rates and calculators, consumer articles, and information on 50,000 neighborhoods.
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What’s New
National Real Estate Market
Pending Home Sales Stabilize, Remain Above Year-Ago Levels
Washington, February 02, 2010 Pending home sales have leveled from a market swing driven by response to the home buyer tax credit, according to the National Association of Realtors®. More...
December Existing-Home Sales Down but Prices Rise; 2009 Sales Up
Washington, January 25, 2010 After a rising surge from September through November, existing-home sales fell as expected in December after first-time buyers rushed to complete sales before the original November deadline for the tax credit. However, prices rose from December 2008 and annual sales improved in 2009, according to the National Association of Realtors®. More...
Realtors® See a Decade of Dramatic Developments
WASHINGTON, December 30, 2009 At the beginning of the 21st century, most home buyers had never viewed a home online; the three top home sale marketing methods were yard signs, newspaper ads and open houses; and nearly nine out of 10 buyers financed their purchase with a fixed-rate, 30-year mortgage. What a difference a decade makes. More...
National Real Estate Market Articles Source:NATIONAL ASSOCIATION OF REALTORS®.
This Month’s
Consumer Articles
Exterior Remodeling Proves Best Bang for Your Buck, Realtors® Report
Washington, December 17, 2009 Despite a slow market and a slight decrease in the resale value of most remodeling projects, Realtors® report that the smartest home improvement investments may also be some of the least expensive. Results from the 2009 Remodeling Cost vs. Value Report show that small-scale exterior projects are the most profitable at resale, according to estimates by Realtors® who completed a recent survey. More...
Low-Flow Showerheads: How to Choose
Thanks to innovative new technology, today’s super-efficient low-flow showerheads save water, reduce your energy bills, and still feel good to use. Save Money Med $150/yr off water heating Effort Low 10 mins to 1 hr to install Investment Low $50 to $200 More...
Chimney Maintenance for Warmth and Safety
Chimney maintenance and a fireplace inspection can make the difference between warm safety and drafty danger.
Effort Low 1-2 hrs (inspect/sweep)
Investment Low $125-$205 (inspect/sweep) More...
What is Califonria Chic? I found it in Encino.
Have you considered Encino? Let me WOW! you. I consider this California chic, modern, green, luxurious. Enjoy the eye candy.
Looking for Great Cities to Live with Low Stress, Great Food and More?
American cities attract many desiring a slower pace with all the amenities like good food, cultural events. These sities are across the U.S. More...
National
Housing Indicators
Existing Home Sales
(December)
5.45 millions units*
Existing Home Median Price
(December)
$178,300
Housing Starts
(December)
557,000 units*
New Home Sales
(December)
342,000 units*
*seasonally adjusted annual rate
Source NATIONAL ASSOCIATION OF REALTORS®.
National
Economic Indicators
Homeownership Rate
4th Qtr 09 4th Qtr 08
67.2% 67.5%
The homeownership rate in the fourth quarter 2009 (67.2 percent) was not statistically different from the fourth quarter 2008 rate (67.5 percent). In the South, the homeownership rate was lower than a year ago, while no other region showed any significant change from corresponding fourth quarter 2008 rates.
New Home Sales
Dec 09 Nov 09
-7.6% -9.3%
Sales of new one-family houses in December 2009 were at a seasonally adjusted annual rate of 342,000. This is 7.6% below the revised November 2009 estimate of 370,000
Source U.S. CENSUS BUREAU
Real Estate Sales Statistics
December 2009 Existing Home Statistics
Source: NATIONAL ASSOCIATION OF REALTORS®.
Metropolitan Prices & State Sales
View Prices / % Changes for 159 Cities & Metropolitan Areas
View Single-family Home Prices
View Condo/Co-op Prices
State Home Sales | Total Sales of Single-family and Condo/Co-ops
Housing Affordability Index | Click Here to view details
Mouse over the map to view
Regional Definitions
National Home Sales
Homes
5,450,000 Single Family
4,790,000 Condo/Co-op
660,000
vs. last month: -16.7% -16.8% -15.4%
vs. last year: 15.0% 12.7% 34.7%
Click Here to view details
National Sales Price of Homes
Homes
$178,300 Single Family
$177,500 Condo/Co-op
$183,700
vs. last year: 1.5% 1.4% 1.0%
Click Here to view details
Regional Home Sales
U.S.
5,450,000 Northeast
910,000 Midwest
1,150,000 South
2,010,000 West
1,380,000
vs. last month: -16.7% -19.5% -25.8% -16.3% -4.8%
vs. last year: 15.0% 21.3% 8.5% 15.5% 15.0%
Click Here to view details
Regional Sales Price of Homes
U.S.
$178,300 Northeast
$241,700 Midwest
$143,200 South
$152,000 West
$236,000
vs. last year: 1.5% 3.2% 1.8% -1.0% 2.7%
Click Here to view details
Regional Single Family Home Sales
U.S.
4,790,000 Northeast
660,000 Midwest
1,050,000 South
1,820,000 West
1,260,000
vs. last month: -16.8% -19.5% -25.5% -16.1% -7.4%
vs. last year: 12.7% 15.8% 7.1% 13.8% 14.5%
Click Here to view details
Regional Sales Price of Single-Family Homes
U.S.
$177,500 Northeast
$244,100 Midwest
$141,100 South
$153,800 West
$241,200
vs. last year: 1.4% 2.9% 2.0% -0.5% 2.4%
Click Here to view details
Regional Condo/Co-Op Sales
U.S.
660,000 Northeast
250,000 Midwest
100,000 South
190,000 West
120,000
vs. last month: -15.4% -19.4% -28.6% -17.4% 33.3%
vs. last year: 34.7% 39.7% 25.0% 40.7% 25.0%
Click Here to view details
Regional Sales Price of Condo/Co-ops
U.S.
$183,700 Northeast
$235,500 Midwest
$164,700 South
$134,400 West
$181,600
vs. last year: 1.0% 4.1% -2.8% -9.1% 5.6%
Click Here to view details
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Monday, February 8, 2010
It's Short Sale Time.....cont'd
Setting the Standards
That short sales continue to gain sway is evident in recent comments by industry execs, who give props to HAFA's efforts to standardize what once was a one-size-fits-none mess of paperwork and perplexities that left many wringing their hands in frustration.
Scott Brinkley, EVP of outsourcing and technology solutions at First American Corporation, acknowledges that servicers are now seeing short sales in a new light. "Short sales tend to be the most cost-effective liquidation strategy for servicers and investors. Since the borrower usually participates in the process, the timeline to work through a short sale, compared to a foreclosure sale, is much shorter. And there's less risk of property damage."
Dave Sunlin, a VP at Bank of America, sung its praises in a recent Washington Post article on the HAFA plan: "We're very pleased. We welcome any effort to reach standardization for all parties (involved in short sales)."
That short sales continue to gain sway is evident in recent comments by industry execs, who give props to HAFA's efforts to standardize what once was a one-size-fits-none mess of paperwork and perplexities that left many wringing their hands in frustration.
Scott Brinkley, EVP of outsourcing and technology solutions at First American Corporation, acknowledges that servicers are now seeing short sales in a new light. "Short sales tend to be the most cost-effective liquidation strategy for servicers and investors. Since the borrower usually participates in the process, the timeline to work through a short sale, compared to a foreclosure sale, is much shorter. And there's less risk of property damage."
Dave Sunlin, a VP at Bank of America, sung its praises in a recent Washington Post article on the HAFA plan: "We're very pleased. We welcome any effort to reach standardization for all parties (involved in short sales)."
Thursday, February 4, 2010
The Balancing Act
The Balancing Act
Family, Work, and You
These days, most of us work two jobs – the one that pays, and the one we love (at least most of the time): raising our kids.
On the message boards at iVillage.com, they have great tips on how to make it easier to do both at once. It's also a great place to share advice of your own, and to get support if something's getting you down. And though it's mostly for moms, working dads can find plenty of helpful advice, too.
Here are a few of the best tips for balancing work and family:
Get up before your kids do. Painful, but worth it. Getting that extra 15 minutes of sleep is nothing compared to the calmness you'll feel if you get up and get yourself ready first. Whatever it takes for you: work out, take a shower, get the coffee down your throat. When your act is together, it makes it easier to get their acts together.
Prep ahead. You do it at work, why not do yourself a favor and think a few steps ahead at home, too? This can mean anything from picking out their outfits for the next day before going to bed, to making lunches the night before, to keeping casseroles frozen for fast and easy dinners. A little prep can prevent a mad dash.
Stick to a routine. Whether it's getting dressed in the morning, or eating dinner at night, make sure your kids know what to expect when, and what's expected of them. A lot of melt-downs can be avoided by everyone knowing the plan.
Stay involved with your kids' care. Okay, so you work during the days, but that doesn't mean you can't be an active participant in your kids' daycare or school. If you can't drop in for lunch like stay-at-home parents, maybe you can bring in an activity for the kids, or a snack. Or you can use your work skills to do something for the class – maybe build the kids a little Web site, or else cut out the patterns for a class project. Your kids will feel like you care, and so will the school.
Save some time for you. Make sure when all is said and done that there's some time for you and your partner to be adults together. It can be a lunch date, dinner once a week, or even renting a movie – just build it into the schedule. It'll help you feel better about all the demands on your time. Because if you're not a happy camper, you can't expect the other campers to be happy.
We all have to do what it takes to keep the ship afloat. Hope these tips help to give your ship a little more buoyancy.
Family, Work, and You
These days, most of us work two jobs – the one that pays, and the one we love (at least most of the time): raising our kids.
On the message boards at iVillage.com, they have great tips on how to make it easier to do both at once. It's also a great place to share advice of your own, and to get support if something's getting you down. And though it's mostly for moms, working dads can find plenty of helpful advice, too.
Here are a few of the best tips for balancing work and family:
Get up before your kids do. Painful, but worth it. Getting that extra 15 minutes of sleep is nothing compared to the calmness you'll feel if you get up and get yourself ready first. Whatever it takes for you: work out, take a shower, get the coffee down your throat. When your act is together, it makes it easier to get their acts together.
Prep ahead. You do it at work, why not do yourself a favor and think a few steps ahead at home, too? This can mean anything from picking out their outfits for the next day before going to bed, to making lunches the night before, to keeping casseroles frozen for fast and easy dinners. A little prep can prevent a mad dash.
Stick to a routine. Whether it's getting dressed in the morning, or eating dinner at night, make sure your kids know what to expect when, and what's expected of them. A lot of melt-downs can be avoided by everyone knowing the plan.
Stay involved with your kids' care. Okay, so you work during the days, but that doesn't mean you can't be an active participant in your kids' daycare or school. If you can't drop in for lunch like stay-at-home parents, maybe you can bring in an activity for the kids, or a snack. Or you can use your work skills to do something for the class – maybe build the kids a little Web site, or else cut out the patterns for a class project. Your kids will feel like you care, and so will the school.
Save some time for you. Make sure when all is said and done that there's some time for you and your partner to be adults together. It can be a lunch date, dinner once a week, or even renting a movie – just build it into the schedule. It'll help you feel better about all the demands on your time. Because if you're not a happy camper, you can't expect the other campers to be happy.
We all have to do what it takes to keep the ship afloat. Hope these tips help to give your ship a little more buoyancy.
Wednesday, February 3, 2010
It's Short Sale Time........cont'd part 3......
Push-back not a problem..........
Favorable figures and bottom-line benefits aside, lenders have traditionally been loath to engage in short sales, not wanting to take a financial hit on the front end without knowing what the property is worth. Servicers, too, have faced myriad stumbling blocks. First, there is the complexity of a three-party---or more---negotiation, with buyer-seller-lender/servicer and usually additional or even multiple subordinate lien holders beyond the first one jockeying for position and a piece of the profit pie. There is more paperwork, a longer stream of necessary documentation, and a more involved review process--a slap in the face for clock-crunched loss-mitigation departments. There is the protracted time frame, as short sales have traditionally taken much longer to carry out than regular sales, along with the difficulties of bringing the sale to closing--a balky second-or third -lien holder can put the kibosh on forgiving its portion of the loan, effectively negating the deal. And at the end of this process, the distressed property must be sold as-is. All these difficulties, in addition to asking lenders to accept less than what they're owed, historically have made short sales less than appealing to servicers. But thanks to recently enacted federal initiatives that arm servicers with the tools they need to minimize the logistical hurdles, servicers finally are adding short sales to their residential-mortgage repertoire.
Favorable figures and bottom-line benefits aside, lenders have traditionally been loath to engage in short sales, not wanting to take a financial hit on the front end without knowing what the property is worth. Servicers, too, have faced myriad stumbling blocks. First, there is the complexity of a three-party---or more---negotiation, with buyer-seller-lender/servicer and usually additional or even multiple subordinate lien holders beyond the first one jockeying for position and a piece of the profit pie. There is more paperwork, a longer stream of necessary documentation, and a more involved review process--a slap in the face for clock-crunched loss-mitigation departments. There is the protracted time frame, as short sales have traditionally taken much longer to carry out than regular sales, along with the difficulties of bringing the sale to closing--a balky second-or third -lien holder can put the kibosh on forgiving its portion of the loan, effectively negating the deal. And at the end of this process, the distressed property must be sold as-is. All these difficulties, in addition to asking lenders to accept less than what they're owed, historically have made short sales less than appealing to servicers. But thanks to recently enacted federal initiatives that arm servicers with the tools they need to minimize the logistical hurdles, servicers finally are adding short sales to their residential-mortgage repertoire.
It's Short Sale Time.......cont'd part 2.........
More lenders on board...........
Although the process often can be time-consuming, increasing indusry acceptance of short sales as a viable alternative to foreclosure is helping buoy lender buy-in. Francis Martinez Myers, SVP at Employee Transfer Corporation/ETCREO Management, explanins that short sales will reduce overall costs and produce better financial outcomes for lenders and servicers. In addition, "For the homeowner, it is a little easier on their credit and allows them to manage the exit from the property (versus an eviction) in a way that preserves their dignity." Indeed, short sales have been encouraged as a double means of dodging foreclosure: They result in a less severe loss to the lender, give borrowers the possibility of restoring their credit earlier, and facilitate the sale of the property rather than adding it to the already-saturated REO rolls.
"The banks make 25 percent to 30 percent more money on a short sale than on a foreclosure, so the short sale makes sense, " said Tim Burrell, owner of RE/MAX United in Raleigh, North Carolina. Burrell has spearheaded successful short sales since 1992 and has written the book, Create A Short Sale: Your Guide Through the Short Sale Maze. By and large, short sales are reaching new heights. Treasury figures, for example, showed an increase from 9,402 in second quarter 2008 to 23,102 at the end of second quarter 2009. And those numbers are expected to keep ticking upward.
Although the process often can be time-consuming, increasing indusry acceptance of short sales as a viable alternative to foreclosure is helping buoy lender buy-in. Francis Martinez Myers, SVP at Employee Transfer Corporation/ETCREO Management, explanins that short sales will reduce overall costs and produce better financial outcomes for lenders and servicers. In addition, "For the homeowner, it is a little easier on their credit and allows them to manage the exit from the property (versus an eviction) in a way that preserves their dignity." Indeed, short sales have been encouraged as a double means of dodging foreclosure: They result in a less severe loss to the lender, give borrowers the possibility of restoring their credit earlier, and facilitate the sale of the property rather than adding it to the already-saturated REO rolls.
"The banks make 25 percent to 30 percent more money on a short sale than on a foreclosure, so the short sale makes sense, " said Tim Burrell, owner of RE/MAX United in Raleigh, North Carolina. Burrell has spearheaded successful short sales since 1992 and has written the book, Create A Short Sale: Your Guide Through the Short Sale Maze. By and large, short sales are reaching new heights. Treasury figures, for example, showed an increase from 9,402 in second quarter 2008 to 23,102 at the end of second quarter 2009. And those numbers are expected to keep ticking upward.
It's Short Sale Time...........
Could the New Treasury Program Help This Foreclosure Alternative Run Like Clockwork?
An all-too common outcome in the housing industry today, foreclosure is a fact of life for defaulting homeowners who are saddled with mounting mortgage bills --and seemingly no other way to dig themselves out of debt. There may be a glimmer of hope, though, on the horizon, thanks to meaningful procedural changes to short sales that may eventually help ease this onerous situation for borrowers, servicers, and lenders alike.
With distressed property sales accounting for 40 percent of U.S. home sales in 2008, and the resulting logjam this has created for banks and servicers trying to address the glut of problem properties on the market, short sales --once resisted by banks --are gaining firm traction and positive attention.
Dave Liniger, chairman of the board at RE/MAX, said the short sale process has been cumbersome for all involved. "The vast majority of the real estate agents have not been properly trained to understand the actual process; the lenders have been overwhelmed with the sheer volume of the inventory; and the investors have not trusted the process, " he explained. But, he says the new guidelines issued November 30, "will add structure, policies, and procedures to the process." He predicts that short sale transactions will increase dramatically, leaving neighborhoods across the country with fewer vacant and vandalized properties.
Gerald B. Alt, president and CEO of HEART Financial Services, LLC, said "Short sales and deeds-in-lieu have to happen. The majority of moratoriums are finished, so these are one of the only options left for borrowers who don't qualify for a modification or refinance."
So will short sales become the savior of the housing crisis, helping emancipate masses of homewoners from the throes of foreclosure? While it's still too soon to tell exactly how much short sales will increase in the coming years, according to industry insiders, short sales very well could help alleviate many of the ills plaguing the servicing sector.
An all-too common outcome in the housing industry today, foreclosure is a fact of life for defaulting homeowners who are saddled with mounting mortgage bills --and seemingly no other way to dig themselves out of debt. There may be a glimmer of hope, though, on the horizon, thanks to meaningful procedural changes to short sales that may eventually help ease this onerous situation for borrowers, servicers, and lenders alike.
With distressed property sales accounting for 40 percent of U.S. home sales in 2008, and the resulting logjam this has created for banks and servicers trying to address the glut of problem properties on the market, short sales --once resisted by banks --are gaining firm traction and positive attention.
Dave Liniger, chairman of the board at RE/MAX, said the short sale process has been cumbersome for all involved. "The vast majority of the real estate agents have not been properly trained to understand the actual process; the lenders have been overwhelmed with the sheer volume of the inventory; and the investors have not trusted the process, " he explained. But, he says the new guidelines issued November 30, "will add structure, policies, and procedures to the process." He predicts that short sale transactions will increase dramatically, leaving neighborhoods across the country with fewer vacant and vandalized properties.
Gerald B. Alt, president and CEO of HEART Financial Services, LLC, said "Short sales and deeds-in-lieu have to happen. The majority of moratoriums are finished, so these are one of the only options left for borrowers who don't qualify for a modification or refinance."
So will short sales become the savior of the housing crisis, helping emancipate masses of homewoners from the throes of foreclosure? While it's still too soon to tell exactly how much short sales will increase in the coming years, according to industry insiders, short sales very well could help alleviate many of the ills plaguing the servicing sector.
Sunday, January 24, 2010
Gorgeous Home for Sale! Don't miss this Beauty!
510 Branchwood Dr.
Midlothian, TX 76065
Gorgeous, Updated Model Home for Sale!
Home
Virtual Tour
Photo Gallery
Property Map
Financing
Request Showing
Contact Me
Deonna Sheffield
Office: 972-442-1277
Mobile: 972-922-6046
Price : $160,000
Bedrooms : 4
Bathrooms : 2
Square Foot : 2,261
Lot Size : 9,016 sq.ft.
County : Ellis
Property Type : Detached
Year Built : 2002
MLS Number : 11323402
click for more information and pictures
Property Description
Breath taking 4 Bedroom, 2 Full Bathroom, 2 Car Garage model home with all the bells and whistles. Beautiful driveup including gorgeous landscaping and eye catching entry of laminate hard wood flooring throughout. Includes open floor plan with beautiful, spacious kitchen and 2nd living area. Comes complete with eat in kitchen, breakfast bar, island and formal dining area. Master comes complete with his and her closets, his and her vanities, seperate shower and large garden tub. Lots of room and storage throughout entire home including shelving and workspace in the garage. You won't find a more beautiful home than this. It has EVERYTHING! Must See!!
Features List
# 2 living areas
# 2 dining areas
# swing driveway
# Open floorplan
# 4 bedrooms
# 2 bathrooms
# laminate wood floors
# ceramic tiled floors
# carpet
# security system
# sprinkler system
# model home
# updates
# spacious
# his and her closets
# his and her vanities
# seperate shower
# garden tub
# breakfast bar
# kitchen island
# skylights
Equal Housing Opportunity.
RE/MAX By The Lakes : 1502 W. Kirby - Wylie TX 7509
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