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Recently Published
Real Estate Reports
A guide to buying an apartment without making a big mistake
Sep-02-2010 12:51 PM
Don’t repeat the mistakes of others when becoming a homeowner. Buying an apartment or a house is a lifetime decision. Nobody wants it become a lifetime trap, so it’s important to get the decision right.
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Mortgage rates hit decades-low of 4.32 percent
Sep-02-2010 12:21 PM
Mortgage rates hit decades-low of 4.32 percent By DANIEL WAGNER The Associated Press Updated Sep 2, 2010 01:14PM MDT Washington • Mortgage rates fell to the lowest level in decades for the tenth time in 11 weeks, as investors worried about the economy. The average rate for a 30-year fixed loan was 4.32 percent this week, down from 4.36 percent last week, mortgage buyer Freddie Mac said Thursday ...
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Pending home sales rise 5.2 percent in July
Sep-02-2010 12:17 PM
The 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
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5 Doomsday Scenarios for the U.S. Economy
Sep-02-2010 12:11 PM
Each with a central culprit: housing, consumers, toxic assets, Europe, and the deficit. United States - Economy of the United States - European Union - Economic growth - Stock market
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ANALYSIS-Canada housing boom ending with whimper, not bang
Sep-02-2010 11:57 AM
ANALYSIS-Canada housing boom ending with whimper, not bang
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Area foreclosures up since last year
Sep-02-2010 11:08 AM
Foreclosures are increasing around the country this year, and the area is not finding itself immune to the trend. The number of homes entering foreclosure skyrocketed in 2007 and 2008 when the real estate market collapsed and subprime mortgage rates sharply increased.
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Foreclosures impact kids, communities
Sep-02-2010 10:16 AM
Children could be prevented from realizing their potential in school and, eventually, the labor force as consequences from the problem of home foreclosures last for years, a pair of Federal bank officials say in a conference on neighborhood stabilization.
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It's NOT the Economy, Stupid: It's the Mess in Washington
Sep-02-2010 10:08 AM
Despite all the worry about the sluggish US economy, businesses and investors are finding an even bigger reason to be cautious these days: the political mess in Washington.
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U.S. Economy: Pending Home Sales Rise in Sign Market Steadying
Sep-02-2010 09:58 AM
Pending sales of existing houses unexpectedly climbed in July from a record low, indicating the real-estate market is steadying following the end of a government tax credit.
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Pending home sales rise in July
Sep-02-2010 09:50 AM
Pending home sales increased 5 percent in July from June but remain 19 percent lower than a year ago, the National Association of Realtors said Thursday.
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Agent Reports
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Real Estate - land and anything permanently affixed to the land. Examples include structures and items permanently attached to structures, such as wall-to-wall carpet, cabinets, built-in appliances, etc. Also called "real property". Those things that are not real estate are personal property.
Mortgage - a written agreement that is used to create a lien on real property to secure a promissory note that is executed to provide the loan of funds for the purchase or refinance of the property.
Title - (1) the right to ownership of land or personal property; (2) the rightful means under which one claims ownership or a possessory interest in land; the union of all elements of ownership; (3) the written evidence of ownership.
Lien - any of a variety of encumbrances attaching to real or personal property, either voluntarily, as in the case of securing a loan to acquire property, or involuntarily, as in the case of a money judgment awarded by a court that encumbers the judgment debtor's property until the judgment is satisfied. An encumbrance resulting from a taxing authority securing unpaid taxes or an encumbrance placed on property for nonpayment of workers or material suppliers in a construction project. See also encumbrance and mechanic's lien.
Appraisal - an educated and informed opinion or estimate of value of real property by a third-party expert. Used for purposes of establishing value for tax and estate purposes, for lending, and for setting a realistic market price.
Federal Housing Administration (FHA) - a federal administrative agency, established in 1934, and now operated under the auspices of the Department of Housing and Urban Development. Congressional intent was to make home loans more readily available to borrowers with limited down payments, to exert pressure on the building industry to create more standardized good-quality housing, and to regulate the mortgage industry. Maximum FHA loan limits are relatively low and vary according to the cost of housing within a particular region. In an FHA loan, the FHA insures lenders against loss on low down payment loans provided that both the borrower and the property comply with FHA underwriting guidelines. The funding mechanism is a mortgage insurance premium (MIP) paid by the borrower. If the borrower defaults, the mortgage insurance program will pay the bulk of the lender's loss.
Tenancy In Common - a form of ownership recognizing concurrent possession of more than one person, with each having an undivided interest in the entire estate. Unlike joint tenancy, tenancy in common may be established by separate instruments. No co-tenant can exclude the other co-tenants from any portion of the property, or partition possession of the property. The shares may be unequal, and the co-tenant may sell or will his or her share without disturbing the co-tenancy relationship. Each co-tenant bears his or her proportional share of maintaining the property and is entitled to a proportional share of the income from the property.
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Buying or selling a home is an enormous undertaking. You want to know you h ...
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trust deed - an alternative to a mortgage, a financial instrument used in conjunction with a promissory note to establish the collateral in a loan secured by real property. In contrast to a two-party mortgage agreement, a trust deed requires a three-party agreement
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