Lee's Summit Homes Blog: Roxanne Van Buskirk
News and Discussion About the Kansas City and Lee's Summit MO Real Estate Markets
29
2009
If you still haven’t taken advantage of the $8,000 tax credit for first time home buyers, your time is running short!
Reece and Nichols has all the info you need to take advantage of the credit!
18
2009
The term Short Sale in Real Esate terms means selling a home for less than what you owe on the house. Short sales have become more common in the past couple of years with the collapse of real estate values. Many home owners have little choice but to sell for less money than they owe, sometimes tens of thousands of dollars less.
While many lenders are allowing these types of sales to go through, don’t think that it is an easy way to get out from under crushing home debt. There are a few caveats to making a short sale.
SmartMoney has an excellent article on the pros and cons of short sales. To summarize:
1. Your credit score will take a similar hit as if they foreclosed on you
2. Lenders may come after you for the difference.
3. You may not have the time cushion you need to get you finances in order as you would in a foreclosure proceeding.
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Real Estate News
- Builders of N.Y. mosque face financial hurdles September 6, 2010The developers planning to build a $100 million Islamic center near the World Trade Center site are nearly a quarter-million dollars behind on real estate taxes and late fees. World Trade Center - Islam - Real estate - New York City - September 11 2001 […]
- Pending home sales rise 5.2% in July September 6, 2010The number of buyers who signed contracts to purchase previously occupied homes increased in July but remained well below last year's levels, a sign that demand for housing remains weak. Contract - Business - National Association of Realtors - Residential Housing - Construction and Maintenance […]
- Homeowners feel stress of life 'underwater' September 6, 2010A broad swath of homeowners — those not headed for the worst-case scenario of foreclosure — are nonetheless grappling with the impact of lost home equity. Foreclosure - Real estate - Business - Investing - Mortgage loan […]
- Banks to allow local groups to buy foreclosures September 6, 2010Major banks are agreeing to give local governments and nonprofit groups the ability to buy foreclosed homes before they are sold to private investors. Foreclosure - United States - Local government - Non-profit organization - Real estate […]
- Mortgage applications rise 2.7% on low rates September 6, 2010Mortgage applications rose 2.7 percent last week as more borrowers took advantage of the lowest rates in decades to reduce their monthly loan payments. Mortgage - Loan - Business - Financial services - United States […]
Contact Roxanne
Roxanne Van Buskirk
Senior Marketing Executive
Reece and Nichols Realtors
1153 NE Rice Road
Lee's Summit, MO 64086
Direct 816-251-1534
Cell 816-550-9009
roxanne@reeceandnichols.com
