Ro Troia

Yes! It’s Another Short Sale Blog.

 

But worth your while, I guarantee you.  The Troia Team from Boulder Colorado is writing so much on the subject lately because IT IS the subject lately.  Real estate short sales are everywhere and the numerous listings are partially due to the Home Affordable Foreclosure Alternatives Program; go ahead, call it HAFA. 

The information is non-ending.  You can’t write enough about short sales.  As we discussed before, having a knowledgeable Realtor is most important.  One who can walk you through the process.  If I were going through a short sale, here’s what I would want to know from my real estate agent.

 

 

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Tags: Tags: agent, boulder colorado, buyer, comparative market analysis, HAFA, hardship letter, Home Affordable Foreclosure Alternatives Program, inspection, lender, listing contract, loan, market, mortgage, purchase agreement, real estate, realtor, seller, short sale, The Troia Team

What You Need To Know About A Short Sale

What is it when a seller’s lender agrees to accept a lower amount for a property than is owed? 

Yes…a short sale. 

This is big real estate news in Boulder Colorado and throughout the country.  If the owner of a home has an outstanding loan/lien that is greater than the value of the home and they are in financial distress (late on mortgage payments), then a short sale is an option other than foreclosure.  Click here to read all about  it. Read the rest of this entry »

Tags: Tags: bailout, financial hardship, government, lien, market, owner, real estate, real estate news, realtor, seller, short sale

RATES FLAT DESPITE MORE NEGATIVE ECONOMIC DATA

Mortgage interest rates were mostly flat this past week despite continued negative economic data. Today’s January employment report showed that the unemployment rate jumped from 7.2% in December to 7.6% in January. This is the highest unemployment rate in 16 years. Non-Farm Payrolls declined 598,000 on expectations that they would decline by 500,000. This is the largest monthly decline since December of 1974. Weekly jobless claims increased 35,000 on expectations that they would increase only 4,000. December Personal Income was down 0.2% and Spending was down 1.0%. The ISM Manufacturing and Services Sector indices were slightly better than expected but both indices still showed contraction within their respective sectors.
 
The Dow Jones Industrial Average is currently at 8,221, up over 200 points on the week. Crude oil futures are currently trading at just over $39 per barrel, down over $2 per barrel on the week. The Senate may vote on the stimulus package today.
 
Next week look toward Wednesday’s International Trade Report, Thursday’s Retail Sales and weekly jobless claims, and Friday’s Consumer Sentiment Index as potential market moving events.

Tags: Tags: boulder, buyers, colorado, market, mortgage rates

RATES CONTINUE TO FALL ON ECONOMIC DATA

Mortgage interest rates fell slightly on the week on continued negative economic data.

 Todays November employment report showed job losses of 533,000 on expectations that 320,000 jobs would be lost. The unemployment rate was reported at 6.7% on expectations of 6.8%. The ISM Manufacturing Index and the ISM Services Sector Index were weaker than expected. October Construction Spending and Factory Orders were also weaker than expected. The Treasury is considering buying mortgages at rates as low as 4.50% but no details have been worked out. It is just a rumor at this point.
 
The Dow Jones Industrial Average is currently at 8,264, down almost 500 points from the Wednesday before Thanksgiving. Crude oil futures are currently trading at $41.21, down over $13 per barrel on the week. U.S. automakers continue to ask Congress for bailout loans to help them avoid bankruptcy.
 
Next week look toward Thursdays International Trade and weekly jobless claims and Fridays Producer Price Index (PPI) and Retail Sales as potential market moving events.

Tags: Tags: boulder, colorado, market, mortgages, rates

Home Swapping. A New Reality TV Show?

No, it’s not a new reality show and it’s not your typical vacation home exchange.  It’s the extreme way to move in this depreciating market.  Do you own real estate in Boulder Colorado that just won’t sell?  Have you reached desperate measures?  Do what others have done.  Trade!  Get on board with this new real estate trend – Home Swapping!  Read more to see if it’s that easy. Read the rest of this entry »

Tags: Tags: boulder, buyers, home swapping, homeowners, market, properties, real estate, sellers