June 10, 2010
NATIONWIDE
HAMP suffers stiff resistance from US Banks
When the Home Affordable Mortgage Program was announced last year and after studying the features of the foreclosure mitigation plans of the Obama administration, experts voiced their concern that the program would at best slow down the foreclosure activity and would not bring forth avoidance of severe economic strain to the US economy. After a year’s experience, the concern seems to be coming true. Read More..
It is Spring – known as Peak Home Buying Season
U.S. real estate has experienced that Spring is the peak season for home buying for the last several years. But what is the position now with the foreclosure fiasco plaguing the country and making the housing market sluggish as never before? Read More..
LENDERS & SERVICERS
DAG’s Real Estate Default Symposium
Irving, Texas | June 15 Click here to find out more
LUXURY HOMES
San Francisco Bay Area Experiences Upscale Foreclosure Activity in High-End Properties
The San Diego based research firm, MDA DataQuick in its compiled review of Chronicle records the following data – about 1,000 homes each worth over $730,000 went into repossession by the lending banks in the nine-county SF Bay Area, during each of the last two years. In the same value bracket, about 223 homes have been reported to be repossessed by lending banks from January so far. Read More…
COMMERCIAL
The Stampede to Refinance
The past three years has seen the global economy suffer a greater credit crisis than in the Florentine markets of the 12th Century. Certainly the capital markets are still the supreme bastion of wealth in a developed world economy, however in recent times wealth has changed hands from cyclical private wealth investors to others. Circumstances have visited all investors in the most recent financial crisis, and it is in just such a perfect storm when the financial markets experience such turbulence, that wealth changes hands. Read More..
MARKET UPDATE – AUSTIN
High-end University Park neighborhood office complex for foreclosure
Commercial property foreclosures are spreading to high-end areas in Austin. From the posh University Park area, the mortgage lenders – U.S. Bank and Texas Capital Bank – have jointly filed a foreclosure petition on the former Concordia University campus for the June foreclosure auction.
The promoters of this office building, East Avenue Holdings LP, owe to the lenders on the original $39 million construction loan. This building has so far one tenant – Texas Monthly magazine and an Aveda Institute salon training school is scheduled to relocate into the building during this summer. Read More
Eureka Short Sale Training at Gracy Title – June 24th
Will be holding short sale training at the Georgetown Office of Gracy Title between 9AM to 1PM on the 10th of June. Karla Jordan Top Producing Keller Williams agent will be giving the nuts and bolts how to effectively execute a Eureka Short sale with over 80% success ratio. Insights of short sales from banking and economic perspectives will be reviewed by Janos Farkas, founder of Eureka Realty Network.
The training is complimentary, for RSVP call Crystal Lopez at (512) 828-7523
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