Wednesday, June 29, 2011

Surf City Lifestyles - July 2011 Edition




A monthly Huntington Beach newsletter with current events for the month of July 2011.

This newletter was provided to you by the Surf City Kahunas of Real Estate:

The Louison Team, Raymond and Stephanie Louison
714-925-5361 or 714-307-2934
http://www.soldonhb.com
Realty One Group - Huntington Beach Office - 01270836 & 01229689
All information deemed reliable, however not guaranteed!

Monday, June 20, 2011

FHA Loan Limits Are Set To Decline In Many High Cost Areas

Barring Congressional action, FHA, Fannie Mae, and Freddie Mac high-cost area loan limits will decline to $625,500 beginning Oct. 1, 2011. The National Association of Realtors and California Association of Realtors have been urging Congress to extend or make permanent the current $729,750 FHA loan limit in high-cost areas. If congress decides to allow this decline it may cause homes currently valued above $655,000 to significantly decline in value. At minimum, it will make many of these homes much more difficult to sell, by reducing the number of qualified buyers.


This article was provided to you by the Surf City Kahunas of Real Estate and it also
Includes data taken from the NAR Newsletter.

The Louison Team, Raymond and Stephanie Louison
714-925-5361 or 714-307-2934
http://www.soldonhb.com
Realty One Group - Huntington Beach Office - 01270836 & 01229689
All information deemed reliable, however not guaranteed!

Saturday, April 16, 2011

Has the American dream of homeownership been tainted by the economy? | AgentGenius

Has the American dream of homeownership been tainted by the economy? | AgentGenius

The article contains some interesting stats on what is happening around the country.


This article was provided to you by the Surf City Kahunas of Real Estate:

The Louison Team, Raymond and Stephanie Louison
714-925-5361 or 714-307-2934
http://www.soldonhb.com
Realty One Group - Huntington Beach Office - 01270836 & 01229689
All information deemed reliable, however not guaranteed!

Eight banks agree to reform and penalties for falsely foreclosing on homeowners | AgentGenius

Eight banks agree to reform and penalties for falsely foreclosing on homeowners | AgentGenius


This article was provided to you by the Surf City Kahunas of Real Estate:

The Louison Team, Raymond and Stephanie Louison
714-925-5361 or 714-307-2934
http://www.soldonhb.com
Realty One Group - Huntington Beach Office - 01270836 & 01229689
All information deemed reliable, however not guaranteed!


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Wednesday, April 13, 2011

Realtors® Applaud Bill to Speed Lender Response to Short Sales

Washington, April 13, 2011

A new bill to improve the process for approving short sales may soon bring relief to distressed home owners who are unable to keep their homes and hope to avoid foreclosure. The bill, introduced in the U.S. House yesterday and strongly supported by the National Association of Realtors®, would impose a deadline of 45 days on lenders to respond to short sale requests.

The legislation, the “Prompt Decision for Qualification for Short Sale Act of 2011,” was offered in Congress by U.S. Reps. Tom Rooney (R-Fla.) and Robert Andrews (D-N.J.).

“The current short sale process can be time-consuming and inefficient, and many would-be buyers end up walking away from a sale that could have saved a home owner from foreclosure,” said NAR President Ron Phipps, broker-president of Phipps Realty in Warwick, R.I.

“Realtors® and consumers continue to raise issues about delays in the short sale process, because lenders are unable to decide whether to approve a short sale. After many months of delays, and with no response from lenders, potential buyers are losing patience and cancelling their contracts, often resulting in the property entering foreclosure. A short sale minimizes the negative impact on sellers and generally costs the lender less than a foreclosure,” said Phipps.

NAR has been actively pushing the lending industry to improve the process for approving short sales, which represent about 13 percent of recent home sales according to NAR data. Phipps praised Reps. Rooney and Andrews for their efforts on the bill and urged Congress to pass the bill quickly.

“As the leading advocate for home ownership and housing issues, Realtors® want to help more home owners avoid foreclosure by facilitating a short sale when a family is absolutely unable to keep their home; however, that can only happen if lenders and servicers approve short sale offers in a reasonable amount of time,” said Phipps. “Streamlining short sales transactions will reduce the amount of time it takes to sell the property, improve the likelihood that the transaction will close and reduce the overall number of foreclosures. This benefits sellers, lenders, buyers and the entire community.”

The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing 1.1 million members involved in all aspects of the residential and commercial real estate industries.


This article was provided to you by the Surf City Kahunas of Real Estate:

The Louison Team, Raymond and Stephanie Louison
714-925-5361 or 714-307-2934
http://www.soldonhb.com
Realty One Group - Huntington Beach Office - 01270836 & 01229689
All information deemed reliable, however not guaranteed!