October 2008

What will be the Impact of the Fannie, Freddie Takeover?

By now, we all know that the U.S. Government has taken control of Fannie Mae and Freddie Mac and that the newly created Federal Housing Finance Agency regulates both entities. What I am finding is that there is confusion about what the impact of this move will ultimately be on the real estate market...

What will be the Impact of the Fannie, Freddie Takeover?

Source: Tish Ashley, CCAR REALTOR®/Lender Committee

HUD $100 Down Payment Initiative

It's a great time to Purchase a HUD Home with FHA financing.

HUD is offering a $100 Down Payment Initiative. The $100 down payment is for owner occupants purchasing a HUD Home with FHA financing, with full price or higher offers. This incentive is also available to owner occupant purchasers who obtain a FHA Home Repair loan (203K) with a full price offer or higher. If the purchase price is greater than the appraised value, the purchaser must pay the difference between the FHA appraised value and the purchase price in addition to the $100 down payment. It's a great time to Purchase a HUD Home with FHA financing.

Realty Revolution LLC is a HUD Approved brokerage and can assist you with the purchase of a HUD home. Visit HUDHomesDFW.com to search for a HUD Home.

Source: Southwest Alliance of Asset Managers

Dallas-Fort Worth Home Foreclosures Rise 1%

Home foreclosures in the Dallas-Fort Worth area edged up 1 percent from a year ago in the latest measure of owners facing forced sale.

More than 4,200 homes in the area are scheduled for foreclosure sale in November, according to statistics released Thursday by Foreclosure Listing Service.

Dallas-Fort Worth home foreclosures rise 1%

Source: Dallas Morning News - Steve Brown

Home Warranties

After you buy an existing home, let’s face it—the last thing you want to worry about is a broken big-ticket item like the air conditioner or oven. For this reason, it’s a good idea to get a home warranty plan (also called a residential service contract).

The general idea behind a home warranty is this: If a covered item malfunctions, the homeowner calls the home warranty company, which contacts a contracted local service provider. The local provider makes an appointment with the homeowner to evaluate the failed equipment. If the item can be fixed, it will be. If it cannot be repaired, the policy pays for a replacement and installation.

Home Warranties

Source: Texas Assocation of REALTORs(R)