The foreclosure scammers are out in force, and they’re coming at the “opportunity” from all angles. Not only are there unscrupulous people out there trying to dupe struggling home debtors out of their money, but now even the financially stable (homeowners or not) are apparently becoming targets. Check out this spam I recently received: From:…
Category: News
News, current events, etc.
NWMLS: Mark Any Accepted Offer on a Short Sale as “Pending”
Kevin Lisota of Findwell sent me a heads up about a rule clarification sent out today by the NWMLS to all their members: Short Sales: Status Change Required after Mutual Acceptance Rule 120 (b) requires the listing office to timely report the mutual acceptance of a purchase and sale agreement for a short sale as…
Mortgage Market “Seized Up”
There’s been a lot of chatter since yesterday afternoon about treasury rates, mortgage rates, the yield curve, and so forth—and for good reason. Here’s a good write-up from Mish’s Global Economic Trend Analysis on what’s going on: Mortgage Market Locks Up Yesterday 10 year treasury yields went soaring and the mortgage market literally seized up….
News Roundup: Time to Rent, Tax Credits, Indices…
Here are a few relevant news stories that have popped into my inbox in the last few days: Money Magazine: When it makes sense to rent (Seattle is #1—woo!) Seattle P-I: Tax credit down-payment plan waiting for IRS Seattle P-I: Dueling indexes: How much are Seattle-area house values down? USA Today: Condo market fights to…
Case-Shiller: Seattle Price Drops Keep Gaining Steam
Let’s make our regularly scheduled monthly check on the Case-Shiller Home Price Index. According to March data, Down 2.0% February to March. Down 16.4% YOY. Down 22.5% from the July 2007 peak Last year prices fell 0.9% from February to March and year-over-year prices were down 4.4%. Here’s the usual graph, with L.A. & San…