http://ericdeeter.net Everything Real Estate in Greater Kansas City & Beyond Wed, 10 Feb 2010 14:45:38 +0000 http://backend.userland.com/rss092 en In a previous post I wrote about states pursuing deficiency judgments against homeowners.  In a web link to www.foreclosure.com there is information on the state of Missouri that may be in error.  It states that deficiency judgments are not allowed in Missouri. I spoke with an attorney who works in a ... http://ericdeeter.net/2010/02/update-on-deficiency-judgments/ According to a real estate blog, there are reports that banks in the state of Florida are getting aggressive and going after deficiency judgments against homeowners who walk away from their mortgages.  A deficiency judgment is allowed in some states.  It is the difference between the mortgage owed and the ... http://ericdeeter.net/2010/02/will-banks-start-playing-hardball-with-foreclosures/ photo credit: Aaron Gustafson The tax credit clock is ticking for buyers.  To qualify, you will have to have a contract by the end of April 2010 & close by the end of June.  But I just read that the IRS just "clarified" the qualifications.  They said that a ... http://ericdeeter.net/2010/01/short-sales-may-not-make-the-deadline-for-tax-credit/ [caption id="attachment_332" align="alignleft" width="300" caption="Termite damge to window frame"][/caption] Termites can eat the equivalent of a two foot 2 x 4 in a year.  But they don't eat all that wood in one place.  They leave paper thin remnants to use as a highway to the rest of the house. A potential ... http://ericdeeter.net/2010/01/termites-cats-carpet-oh-my/ Increasing your home's appeal Remember the 8-second rule: That's all the time you have to create a winning first impression. Here are some simple yet significant ways to maximize your home's appeal. Exterior * Keep the grass cut and remove all yard clutter. * Weed and apply fresh mulch to flower beds. * Apply fresh ... http://ericdeeter.net/2010/01/how-appealing-is-your-home/ Most home buyers don't know what many investor buyers have faced for years: the requirement from FHA that a house be "held" by an investor for 90 days before being resold.  For an investor who wants to buy a foreclosed property, fix it, then resell it or "flip" it, this ... http://ericdeeter.net/2010/01/fha-gets-serious-about-dealing-with-foreclosures/ photo credit: fPat Some lenders are starting to write down the principal for some homeowners in trouble, according to a story in this weeks edition of Business Week.  Mortgage work-out solutions in the past have just addressed the interest side of loans, giving very little to homeowners who now owe ... http://ericdeeter.net/2010/01/real-hope-for-underwater-homeowners/ photo credit: greeblie Notes from a presentation given by the chief economist of the National Association of Realtors: 1.  The market is at the bottom.  For those who have been waiting, this is it! 2.  Mortgage defaults will continue.  For buyers this means prices should stay at a bargain for at least ... http://ericdeeter.net/2010/01/predictions-for-2010-real-estate-market/ photo credit: alan.stoddard The Kansas City Star recently reported about Kyna Franklin who received help saving her home from foreclosure.  (See full story here.)  The details aren't specific, but part of this foreclosure appears to have involved a request for a loan modification.  The Obama administration instituted a program to ... http://ericdeeter.net/2010/01/asking-for-loan-modification-may-not-always-be-a-good-idea/ Experts who predict such things are saying that we have seen the bottom of  the real estate market this year.  The forecasters predict the real estate market to have a slow growth in 2010.  There will still be a lot of foreclosures on the market, and it will remain a ... http://ericdeeter.net/2009/12/2010-predicted-as-better-for-real-estate/