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HomePath offering buyer incentives

From now, until the end of June, HomePath (Fannie Mae) is paying up to 3.5% of the purchase price towards your closing costs if you purchase one of their (bank-owned) homes.  There’s currently three condos downtown that that are owned by Fannie Mae and one more hitting the market.  There is a caveat however, you […]

Hot Deal Alert - LOFT

Currently, there’s a loft  listed in downtown at $55 a square foot! It had originally sold $179 a square foot in 2003. for If you’d like more information about this property, shoot me an email at HotList@stphr.com.

This will sell quickly, so you don’t have a lot of time on it.  Remember, when buying from banks – […]

New guidance for servicers/lender regarding short sales.

The Treasury yesterday anounced new guidance for servicers/lender to help unclog the short sale sewer-pipe.  The website Calculated Risk has a good summary here: http://bit.ly/6WNGim but basically:

 

·  Borrowers would receive $1,500 from the government in relocation expenses.

December 1st, 2009 | Tags: , , , , , | Category: Foreclosures / Short Sales | Leave a comment

Short Sale Regulation Needed

Nothing frustrates me more in today’s real estate market than the “Short Sale” listed home.  First a little history…

A Short Sale is defined as a sale when the homeowner does not have enough equity in their property to sell at the desired price.  When the transaction closes, the mortgage company (bank) must make up that […]

Foreclosures in Downtown

Foreclosures are up in our little condo market.  Some recent sales in both the Gallery Building and Market House have shown that banks do not like to hold on to properties.  One example is a condo over at Gallery; it sold for $85 a square foot!  On comparison, the Penfield at last check was nearly […]