ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN BIRMINGHAM AL – 11/19/2012

ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN BIRMINGHAM AL – 11/19/2012

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ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN BIRMINGHAM AL

These are Single Family Homes ‘Active’ on the Mobile AL MLS. These homes are ripe for the picking. DO NOT LET THEM PASS YOU BY…ACT NOW….BEFORE IT IS TOO LATE!!!

ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN BIRMINGHAM AL

I hope you have an awesome day, packed with smiles while searching for your active Birmingham AL Real Estate Dream.

A bailout for FHA? Don’t bet on it.

And what’s the practical significance of the steps the agency announced last week to avoid a meltdown? What impact will they have for homebuyers and sellers who rely on FHA for affordable financing?

You may have also read that in response, the FHA plans to raise its annual mortgage insurance premiums from 1.25 percent to 1.35 percent early next year, and revoke new borrowers’ ability to cancel their premiums once their loan balances hit the 78 percent LTV level.

The agency also is going to expand pre-purchase counseling efforts for applicants with low credit scores and minimal down payments, and step up efforts to promote short sales to seriously delinquent owners who are likely headed for foreclosure.

ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN BIRMINGHAM AL

Taken together, the changes don’t appear to be a big deal for most buyers who opt for FHA loans. In fact, you can argue that what’s not being changed is far more noteworthy than what is:

•Minimum down payments will still be 3.5 percent. The agency resisted demands that it boost the minimum to 5 percent.

ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN BIRMINGHAM AL

•There will be no risk-based pricing on premiums, another demand by critics. FHA will continue to its one-price-for-all system in which low-risk borrowers essentially subsidize the premiums of higher-risk borrowers.

•Underwriting will continue to be generous on key items like debt-to-income ratios.

ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN BIRMINGHAM AL

Turning away qualified applicants because they couldn’t come up with another 1.5 percent in down payment cash would be an abandonment of FHA’s traditional mission of opening the door to homeownership for moderate-income families, especially first-time purchasers and minorities.

Another step FHA didn’t announce last week but soon will: reining in seller concessions to buyers to help pay for closing costs and lender fees.

Though FHA has proposed a tiered system that would lower maximum contributions for many sellers to 3 or 4 percent and restrict the current 6 percent maximum to low-balance loans, it has not yet published a final rule.

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ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN BIRMINGHAM AL- 11/15/2012

ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN BIRMINGHAM AL – 11/15/2012

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ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN BIRMINGHAM AL

These are Single Family Homes ‘Active’ on the Mobile AL MLS. These homes are ripe for the picking. DO NOT LET THEM PASS YOU BY…ACT NOW….BEFORE IT IS TOO LATE!!!

ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN BIRMINGHAM AL

I hope you have an awesome day, packed with smiles while searching for your active Mobile AL Real Estate Dream.

With U.S. lawmakers heading toward the edge of the “fiscal cliff,” government-backed mortgage bonds that fund the vast majority of home loans are looking like a safe haven for investors, helping push mortgage rates to new lows.

Rates on 30-year fixed-rate mortgages averaged 3.34 percent with an average 0.7 point for the week ending Nov. 15, down from 3.4 percent last week and 4 percent a year ago, Freddie Mac said in releasing the results of its weekly Primary Mortgage Market Survey.

That’s a new low in Freddie Mac records dating to 1971. In the four decades that Freddie Mac has conducted the mortgage market survey, rates on 30-year fixed-rate loans had never been below 4 percent until last year.

ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN BIRMINGHAM AL

The survey showed rates on 15-year fixed-rate mortgages averaging 2.65 percent with an average 0.7 point, down from 2.69 percent last week and 3.31 percent a year ago. That’s also a new record in Freddie Mac records dating to 1991.

ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN BIRMINGHAM AL

For five-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) loans, rates averaged 2.74 percent with an average 0.6 point, up from 2.73 percent last week but down from 2.97 percent a year ago. Rates on five-year ARM loans hit a low in records dating to 2005 of 2.69 percent during the week ending July 19.

ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN BIRMINGHAM AL

Rates on one-year Treasury-indexed ARM loans averaged 2.55 percent with an average 0.3 point, down from 2.59 percent last week and 2.98 percent a year ago. That’s a new low in records dating to 1984. The Federal Reserve has been one of the biggest purchasers of MBS, in a deliberate move to stimulate the economy by lowering the cost of borrowing.

A third round of quantitative easing (“QE3”) announced by the Fed on Sept. 13 has boosted its MBS purchases by $40 billion a month. Because of the sluggish pace of the recovery, Fannie Mae economists think that open-ended program could last through all of 2013 and perhaps into 2014, and grow the Fed’s balance sheet by $1 trillion.

ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN BIRMINGHAM AL – 11/06/2012

ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN BIRMINGHAM AL – 11/14/2012

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ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN BIRMINGHAM AL

These are Single Family Homes ‘Active’ on the Mobile AL MLS. These homes are ripe for the picking. DO NOT LET THEM PASS YOU BY…ACT NOW….BEFORE IT IS TOO LATE!!!

ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN BIRMINGHAM AL

I hope you have an awesome day, packed with smiles while searching for your active Mobile AL Real Estate Dream.

With President Obama’s victory at the polls, it is now abundantly clear that Obamacare is here to stay. So far, we’ve experienced only the easy parts of the massive health care law, but starting in 2013, the hard parts will begin to take effect.

In particular, two additional Medicare taxes will kick in. These tax increases will affect only high-income taxpayers: married couples with adjusted gross incomes over $250,000, and singles with AGIs over $200,000.

This is a tiny percentage of the population — only about 4 percent of all taxpayers earn more than $200,000. However, the one-third of taxpayers who itemize could be affected by the more restrictive limits on deducting medical expenses.

ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN BIRMINGHAM AL

Everyone who works — whether a business owner or an employee — is required to pay Social Security and Medicare taxes. Employees pay one-half of these taxes through payroll deductions; the employer must pony up the other half and send the entire payment to the Internal Revenue Service.

ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN BIRMINGHAM AL

Starting in 2013, the 2.9 percent Medicare tax will go up by 0.9 percent. However, this increase will apply only to married taxpayers with wage or self-employment income of $250,000 and single taxpayers with income of $200,000. Only the amount over these thresholds is subject to the additional 0.9 percent tax.

ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN BIRMINGHAM AL

Starting in 2013, high-income taxpayers will be subject to a brand-new Medicare tax on their “unearned income.” A 3.8 percent Medicare contributions tax will be imposed on the lesser of (1) the taxpayer’s net investment income, or (2) any excess of modified adjusted gross income over $200,000 ($250,000 for married taxpayers filing jointly).

Thus, all single taxpayers with MAGI over $200,000 and married taxpayers with MAGI over $250,000 will be subject to this tax. This is a small proportion of the population, but a significant one for the real estate industry.

ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN BIRMINGHAM AL– 11/14/2012

ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN BIRMINGHAM AL – 11/12/2012

ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN BIRMINGHAM AL – 11/12/2012

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ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN BIRMINGHAM AL

These are Single Family Homes ‘Active’ on the Mobile AL MLS. These homes are ripe for the picking. DO NOT LET THEM PASS YOU BY…ACT NOW….BEFORE IT IS TOO LATE!!!

ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN BIRMINGHAM AL

I hope you have an awesome day, packed with smiles while searching for your active Mobile AL Real Estate Dream.

Now that President Barack Obama has won re-election, there are several housing-related challenges staring the federal government square in the face. These are some of the decisions that will have to be made in the coming weeks:

1. The “fiscal cliff”: The fiscal cliff is a series of tax increases and spending cuts that will go into effect unless U.S. lawmakers come up with an alternative plan to reduce the federal deficit by $1.2 trillion as required by the Budget Control Act of 2011. The spending cuts, known as “sequestrations,” would automatically go into effect on Jan. 2 and be split evenly between defense spending and domestic spending.

The president has put forward two deficit reduction proposals that included both spending cuts and revenue increases, but has run into opposition from some members of Congress who oppose tax increases and want to reduce the deficit solely through spending cuts, the report said.

ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN BIRMINGHAM AL

2. The mortgage interest deduction (MID): Revamping the mortgage interest deduction is one of the solutions proposed to head off the fiscal cliff and could be part of a broader plan to streamline the tax code by eliminating some loopholes and deductions.

ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN BIRMINGHAM AL

3. Mortgage debt forgiveness: Another homeowner tax break may be on the table in fiscal negotiations: the Mortgage Debt Relief Act of 2007, which is set to expire at the end of this year.

ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN BIRMINGHAM AL

The law exempts up to $2 million in mortgage debt forgiven by a lender in a short sale, loan modification or foreclosure from federal taxation. The law applies only to mortgage debt incurred to fund the purchase or improvement of a principal residence.

4. Qualified mortgages: Now that we know the Dodd-Frank Wall Street Reform and Consumer Protection Act is here to stay — presidential candidate Mitt Romney had vowed to repeal it — there are two controversial rules contained within the law that are waiting to be finalized: the qualified mortgage (QM) and the qualified residential mortgage (QRM).

ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN BIRMINGHAM AL- 11/09/2012

ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN BIRMINGHAM AL – 11/09/2012

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ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN BIRMINGHAM AL

These are Single Family Homes ‘Active’ on the Mobile AL MLS. These homes are ripe for the picking. DO NOT LET THEM PASS YOU BY…ACT NOW….BEFORE IT IS TOO LATE!!!

ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN BIRMINGHAM AL

I hope you have an awesome day, packed with smiles while searching for your active Mobile AL Real Estate Dream.

Home prices and home sales both showed strong annual growth during the third quarter, according to the latest report by the National Association of Realtors.

The national median existing single-family home price jumped 7.6 percent from a year ago, to $186,100 — the strongest year-over-year increase for any quarter since first-quarter 2006, when prices were up 9.4 percent from the previous year.

ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN BIRMINGHAM AL

Sales of existing homes rose 10.3 percent during the third quarter, to a seasonally adjusted annual rate of 4.68 million, up from 4.25 million a year ago. The annual pace of sales grew in the South 11.7 percent in the third quarter with median existing-home prices rising 5.7 percent to $165,400.

Median prices posted annual gains in 120 of 149 metros tracked, up from 110 metros showing gains in the second quarter of 2012 and 39 metros with price appreciation during the third quarter of 2011.

Inventory of existing homes for sale was down 20 percent from a year ago, to 2.32 million. The combination of rising prices and tight inventory on a quarterly basis indicate that the housing recovery is settling in, said Lawrence Yun, NAR’s chief economist, in a statement.

ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN BIRMINGHAM AL

Housing affordability numbers also fared well for the housing market. With a third-quarter national median family income of $61,700, NAR calculated that with a 5 percent down payment, a household would need only $40,900 to afford a home at the third-quarter national median price, assuming a 4 percent mortgage interest rate and 25 percent of gross income devoted to mortgage principal and interest.

ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN BIRMINGHAM AL

The proportion of first-time buyers didn’t change in the third quarter from last year, but held steady at 32 percent, nearly twice the 17 percent share of investors who purchased homes in the quarter. The share of all-cash buyers was down on a yearly basis in the third quarter to 27 percent from 29 percent in third quarter 2011.

ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN BIRMINGHAM AL– 11/09/2012

ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN BIRMINGHAM AL- 11/06/2012

ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN BIRMINGHAM AL – 11/06/2012

Your FREE ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN BIRMINGHAM AL– 11/06/2012list has been posted.

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OR visit http://www.PropertiesInMobileAL.com/search

ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN BIRMINGHAM AL

These are Single Family Homes ‘Active’ on the Mobile AL MLS. These homes are ripe for the picking. DO NOT LET THEM PASS YOU BY…ACT NOW….BEFORE IT IS TOO LATE!!!

ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN BIRMINGHAM AL

I hope you have an awesome day, packed with smiles while searching for your active Mobile AL Real Estate Dream.

This is a real life question that was posed to me and I decided to publish this for informational purposes. As always, it is wise to consider consulting a Mortgage Professional.

Q: We are doing some family changes and it requires my husband to stay home for a while.  I heard he has to be working for at least six months for his income to be considered. Is that correct?

ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN BIRMINGHAM AL

A: You and your stay-at-home-dad-to-be hubby exemplify the flexible family roles of a modern American family.

Six months should work. Based on current guidelines, which are subject to change, most lenders require that a gap of employment longer than three months be followed up by at least six months of employment before the income of the borrower with the employment gap can be considered toward qualifying for the home loan.

Lenders still require your last two years of income tax returns, but will generally look to your average monthly income from the last few months so long as they are provided with verification that your husband’s been back to work for at least 180 days.

ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN BIRMINGHAM AL

There are caveats. The six-month green light assumes that your husband goes back to work in the same field as he worked in before.  Most lenders have a two-year “same line of work” requirement; the employment gap doesn’t disqualify his income from counting, so long as he’s been in the same line of work for at least two years.

If your husband is looking to change lines of work, he will need to prove that he’s been in the field for two years before they will count his income. Time spent enrolled in an educational course does count toward the two-year “same line of work” requirement.

ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN BIRMINGHAM AL

Commissions, overtime, bonuses and other employment compensation beyond the base salary cannot be counted toward your ability to repay your mortgage without a two-year paper trail documenting the extra income.

Similarly, if he goes back to work in his own business, he might be required to document his self-employment via 2 years tax returns.

ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN BIRMINGHAM AL- 11/05/2012

ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN BIRMINGHAM AL – 11/05/2012

Your FREE ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN BIRMINGHAM AL– 11/05/2012 list has been posted.

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ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN BIRMINGHAM AL

These are Single Family Homes ‘Active’ on the Mobile AL MLS. These homes are ripe for the picking. DO NOT LET THEM PASS YOU BY…ACT NOW….BEFORE IT IS TOO LATE!!!

ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN BIRMINGHAM  AL

I hope you have an awesome day, packed with smiles while searching for your active Mobile AL Real Estate Dream.

The last economic data to be released before the election has given no advantage to either candidate. We did pick up 171,000 jobs in October, a little better than forecast, and revised up another 84,000 in prior months.

However, the average workweek was unchanged for the fourth month in a row, and hourly earnings fell slightly, over the last year rising only 1.6 percent. “U-6” — the measure of unemployment including “involuntary part-time” — is still 14.6 percent.

On net a brighter sign than the jobs report: the ISM survey of manufacturing in October crawled 0.2 further into positive ground at 51.7. Markets are flat, I think suppressed more by the election than anything, although stocks are clearly hurt by diminished earnings. Foreign action has also been muted and deferred by our election, especially in Europe.

So, Wednesday morning — assuming we know the election results by then — how will events and markets break from months of unnatural quiet?

1. We’ll know by then. The 2000 election was a coin toss like this one, but the damned thing won’t land on its edge again … not twice in four tries.

2. Who? Obama has an Electoral College edge, but that edge has narrowed steadily. Iffy polling results this year seem to make even the pollsters queasy. This one may more resemble ’48 and the Chicago Tribune’s “Dewey Beats Truman!” — but either man could be Truman.

ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN BIRMINGHAM AL

3. With no forecast to work with, markets can’t discount either outcome. Wednesday could be an explosive trading day, but maybe not. If it’s Obama, things are going to happen fast; if it’s Romney, no matter what he says after winning, he still won’t be in office for almost three months.

4. Fiscal cliff. If it’s Romney, then Obama and Congress will punt 90 days. If it’s Obama, markets will begin to trade rapidly on prospects for a deal. If Obama sticks with his ethereal hope that “Congress will reach a compromise,” find something big and solid to hide under.

ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN BIRMINGHAM AL

In our system of government — intentionally designed so that it’s hard to get things done, and so that nothing at all gets done in a hurry –either the president leads, putting his reputation on the line and giving cover to legislators of his own party, or nothing of substance ever happens.

If we seem in for a replay of 2011, markets aren’t going to like it. If we get a deal –– a real one — markets will like it no matter how tilted Left or Right.

ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN MOBILE AL

5. No matter who gets elected, Tim Geithner will be gone from Treasury. He has wanted to leave for a year, and the White House has not explained why it begged him to stay. Anybody can do nothing. It’s been a challenge to annoy Right, Left, and Business Center, but the Prince of Procrastination has been up to it. Whoever replaces the Wizard of Waiting cannot do less.

6. Any pop the economy gets from an Obama resolution of the fiscal cliff will be smothered in its crib by runaway regulation. Romney might overdo regulation relief, but it would take many years to do harm: Really bad financial actors and practices are long gone. Even Vikram Pandit is gone. The link from regulation to the economy is finance. Somebody is going to have to decide, quickly, whether we want Dodd-Frank and Basel III risk-based bank capital rules, or want loans. A or B.

7. Housing. Finance is everything, and the most damaged by the “regulation bubble.” Edward J. DeMarco, czar of Fannie and Freddie, must be either removed or recalibrated. There will come a day to privatize these two, but squeezing the life out of them before a private supply exists makes a broad housing recovery impossible. Oh, by the way, the FHA needs a $50 billion to $100 billion bailout.

Housing’s benefit from the election? I don’t see any.

8. The new guy will nominate the next Fed chairman. There are many able candidates, but this is a tough stream in which to change horses.

ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN MOBILE AL- 11/02/2012

 

ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN MOBILE AL – 11/02/2012

Your FREE ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN MOBILE AL– 11/02/2012list has been posted.

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ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN MOBILE AL

These are Single Family Homes ‘Active’ on the Mobile AL MLS. These homes are ripe for the picking. DO NOT LET THEM PASS YOU BY…ACT NOW….BEFORE IT IS TOO LATE!!!

ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN MOBILE AL

I hope you have an awesome day, packed with smiles while searching for your active Mobile AL Real Estate Dream.

No signs of pressure on home loan rates as The Fed expected to keep buying mortgages through next year.

Mortgage rates stayed in the basement this week, as mortgage-backed securities that fund the vast majority of home loans continued to look like a safe bet to investors.

Rates on 30-year fixed-rate mortgages averaged 3.39 percent with an average 0.7 point for the week ending Nov. 1, down from 3.41 percent last week and 4.00 percent a year ago, Freddie Mac said in releasing the results of its latest Primary Mortgage Market Survey. Rates for 30-year fixed-rate loans hit an all-time low in Freddie Mac records dating to 1971 of 3.36 percent during the week ending Oct. 4.

ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN MOBILE AL

For 15-year fixed-rate loans, rates averaged 2.70 percent with an average 0.7 point, down from 2.72 percent last week and 3.31 percent a year ago. Rates for 15-year fixed-rate loans reached an all-time low in Freddie Mac records dating to 1991 of 2.66 percent during the week ending Oct. 18.

ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN MOBILE AL

Rates on 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) loans averaged 2.74 percent with an average 0.6 point, down from 2.75 percent last week and 2.96 percent a year ago. Rates on five-year ARM loans hit a low in records dating to 2005 of 2.69 percent during the week ending July 19.

ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN MOBILE AL

For 1-year Treasury-indexed ARMs, rates averaged 2.58 percent with an average 0.4 point, down from 2.59 percent last week and 2.88 percent a year ago. Rates on one-year ARM loans hit an all-time low in records dating to 1984 of 2.57 percent during the week ending Oct. 4.

Members of the Federal Reserve’s Open Market Committee said last week they expect to keep their target for short-term interest rates at “exceptionally low levels” at least through mid-2015.

The Fed is also keeping mortgage rates low, by boosting purchases of mortgage-backed securities guaranteed by Fannie Mae and Freddie Mac by $40 billion a month. Economists at Fannie Mae think the open-ended program may continue through next year and into 2014.

ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN MOBILE AL– 11/02/2012

ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN MOBILE AL- 11/01/2012

ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN MOBILE AL– 11/01/2012

Your FREE ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN MOBILE AL– 11/01/2012 list has been posted.

CLICK HERE FOR YOUR PERSONALIZED REPORT OF ACTIVE REAL ESTATE FORECLOSURES

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ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN MOBILE AL

These are Single Family Homes ‘Active’ on the Mobile AL MLS. These homes are ripe for the picking. DO NOT LET THEM PASS YOU BY…ACT NOW….BEFORE IT IS TOO LATE!!!

ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN MOBILE AL

I hope you have an awesome day, packed with smiles while searching for your active Mobile AL Real Estate Dream.

The number of U.S. homes lost to foreclosure dropped for the fifth month in September, with real estate data aggregator Core Logic counting 57,000 completed foreclosures in a monthly foreclosure report released today.

That’s a 31.3 percent decrease from a year ago, and 3.4 percent less than Augusts’ upwardly-revised total of 59,000. By comparison, for a span of six years before the housing crisis, from 2000 to 2006, completed foreclosures averaged 21,000 per month, the report noted.

“Homes lost to foreclosure in September 2012 are down 50 percent since the peak month in September 2010 and 22 percent less than the beginning of the year,” said Mark Fleming, chief economist for Core Logic.

ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN MOBILE AL

As of the end of September, Core Logic counted 1.4 million homes — 3.3 percent of all U.S. homes with a mortgage — that were in some stage of the foreclosure process, a 6.7 percent drop from the same time a year ago.

ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN MOBILE AL

Not all homes that enter the foreclosure process are lost by their owners. Some are able to get current on their loans or negotiate a loan modification or short sale. The 57,000 foreclosures completed in September brings the number of homes that have gone all the way through the foreclosure process since September 2008 to 3.9 million, Core Logic said.

ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN MOBILE AL

“The continuing downward trends in foreclosures along with a gradual clearing of the shadow inventory are signs of stabilization and improvement in the housing market,” said Anand Nallathambi, president and CEO of Core Logic. The report shows that nearly half (47.7 percent) of the 763,589 foreclosures completed in the 12 months through September occurred in just five states: California (108,000), Florida (92,000), Texas (59,000), Georgia (55,000), and Michigan (51,000).

Florida leads all U.S. states with 11.5 percent of its mortgaged homes in some stage of foreclosure, according to the report. Other states topping the list, in order, are: New Jersey (7.3 percent), New York (5.3 percent), Illinois (5.2 percent) and Nevada (4.9 percent). All but Nevada are judicial foreclosure states, where loan servicers have had difficulty pushing homes through the foreclosure process because of “robo-signing” issues.

DANGER!!! DANGER!!! DO NOT CALL THE Agent on the sign – CALL A SEASONED BUYER’S AGENT INSTEAD!

DANGER!!! DANGER!!! DO NOT CALL THE Agent on the sign – CALL A SEASONED BUYER’S AGENT INSTEAD!

Alabama is one of those states that holds buyers responsible for due diligence. In a nutshell, buyers should make every effort to investigate issues of importance to them and not rely on others to do what they should have done to fully investigate a situation to their satisfaction. Seems intimidating? It can be without the use of a sworn Buyer’s Agent such as myself.

You wouldn’t — for a lot of good reasons — go into a contested divorce proceeding without an attorney, or worse, take the advice of your spouse’s attorney.Why, then, would you buy a home — an adversarial process regardless of how friendly everyone involved in the transaction seems — without someone on your side? Oh, you think home buyers have always had representation? Well, think again. As a buyer, you are not represented unless you’ve told the real estate agent who is showing you homes that you want that agent to represent you as your “buyer agent.” If you haven’t, “your agent” could be representing the seller. If the agent is representing the seller, you could be making a costly mistake, possibly not receiving the best price, lack of professional negotiation expertise, and leaving yourself wide open for later regret.

Recently, more home buyers have been asking, “Who represents whom?” As a result, many are opting to be represented by a buyer’s agent to take them through the process, from house hunting to closing. The greatest thing about this is it doesn’t cost the buyer anything and often saves them thousands. Why choose a buyer’s agency? While any agent will arrange property showings, suggest sources of financing, provide accurate information, explain the forms and agreements, and monitor the entire process, only a Full Representation and Single Sided Buyer’s agent is able to perform services for you that a Full Representation and Single Sided Seller’s Agent cannot; such as show you reasons not to buy a particular property; negotiate the best price and terms for you; include contingencies in the contract that protect you, rather than the seller as in most contracts; and keep confidential any information that could hurt your bargaining position with the seller.

For the last 5+ years, I have made it my mission to be a Buyers Agent, where I work for you and you only! I decline and avoid Dual Agency as part of my day to day operations, referring these situations out to trusted colleagues different brokerages. Yes, I am a Realtor® that will sacrifice money in order to uphold my Code of Ethics. You cannot afford to not have me on your side, working for only you in the transaction. it has become my opinion, though years of experience that it is impossible for a Realtor® to represent both sides of the transaction. Confidential information cannot be shared between the parties, but the agent is still aware of these little tidbits of information. The knowledge influences the decisions and the forthcoming advice to you or the seller.

In short, hire a Buyer’s Agent today and protect yourself.

DANGER!!! DANGER!!! DO NOT CALL THE Agent on the sign – CALL A SEASONED BUYER’S AGENT INSTEAD!