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Posts Tagged ‘Economy’
Baton Rouge Real Estate Appraisers: Why do some houses sit on the market while others sell?
11/13/2010 | 
Author http://www.batonrougerealestateappraisal.com/ – Baton Rouge Real Estate Appraisers: Why do some houses sit on the market while others sell?
Here’s an interesting video by Jay Papasan, an executive of Keller Williams Realty. We see “Jay” on the month “This Month In Real Estate US: November 2010″ videos on YouTube. In this video, Mr. Papasan explains why some houses just sit there on the market while others sell, which is an appropriate topic for locals now that the expiration of the Federal tax credit means a lot homes locally are just sitting.
I thought his explanations were helpful explanations. The visual displays of these concepts of his x/y axis were helpful as well.
I’m curious to hear the experience of both home owners and real estate agents as to what if Mr. Papasan is explaining is reality locally? Any ideas on what it would take for homes to sell faster? Are locals just waiting for a bottom before buying or is there something more going on in their psyche – more of a concern about what’s taking in Washington, DC than a concern for the Baton Rouge economy maybe?
You can follow Jay Papasan on Twitter at @jaypapasan, and on Facebook @ http://www.facebook.com/jaypapasan . Mr. Papasan is also coauthor of The Millionaire Real Estate Agent, The Millionaire Real Estate Investor & SHIFT.
Posted in Baton Rouge Appraisal, Baton Rouge Appraisals, Baton Rouge Appraisers, Baton Rouge Divorce Appraisal, Baton Rouge Divorce Appraisals, Baton Rouge Economic News, Baton Rouge Housing Market, Baton Rouge Real Estate | 
Tags: Amp, Axis, Baton Rouge Real Estate News, Economy, Explanations, Federal Tax Credit, Jay Papasan, Keller Williams Realty, Locals, Millionaire Real Estate Investor, Psyche, Real Estate Agent, Real Estate Agents, Real Estate Appraisers, Real Estate Investor, Twitter, Videos, Visual Displays, Washington Dc, Youtube | 
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Baton Rouge Real Estate: Understanding and Avoiding Mortgage Fraud
http://www.batonrougerealestateappraisal.com/ - Baton Rouge Real Estate: Understanding and Avoiding Mortgage Fraud
The San Francisco Chronicle has an interesting article: Mortgage Fraud: Understanding And Avoiding It . Here’s a snippet below:
“Ethical violations and criminal activities in various industries have affected our economy over the past few decades, particularly in the banking, financial and housing sectors. In this article we examine the complex ethical and criminal issues surrounding mortgage fraud. Fraud in its simplest form is deliberate misrepresentation and deception. Fraud in action means that one deceives another by misrepresenting information, facts and figures.
What is Mortgage Fraud?
Mortgage fraud is not just predatory lending practices that target certain borrowers. According to the Federal Bureau of Investigation (FBI) mortgage fraud is “material misstatement, misrepresentation or omission relating to the property or potential mortgage relied on by an underwriter or lender to fund, purchase or insure a loan.” With this working definition we see that mortgage fraud can be committed by both individual borrowers and industry professionals.“
Read more: http://www.sfgate.com/cgi-bin/article.cgi?f=/g/a/2010/04/21/investopedia5882.DTL#ixzz0loEvmD3B
Posted in Baton Rouge Economic News, Baton Rouge Real Estate, Real Estate Baton Rouge | Tags: Baton Rouge Real Estate News, Baton Rouge Real Estate News, Borrowers, Decades, Deliberate Misrepresentation, Economy, Ethical Issues, Ethical Violations, Fbi, Federal Bureau Of Investigation, Industry Professionals, Information Facts, Investigation Fbi, Material Misstatement, Mortgage Fraud, Omission, San Francisco Chronicle, Sectors, Simplest Form, Snippet, Underwriter | 1 Comment »
Rain City Guide: Baton Rouge Mortgage Rates In October 2009 Up 0.25% from this Morning
http://www.realestateappraisertips.info/ – Rain City Guide: Baton Rouge Mortgage Rates In October 2009 Up 0.25% from this Morning
Home Mortgage Rates have been spiking the past couple of days!
Snippet:
“Don’t get me wrong…rates are still very low. But today the rate you could have locked in yesterday with no points (origination or discount) will probably cost you 1% of your loan amount. With the economy improving along with the stock market, watch this trend of rising mortgage rates continue.
Conforming Mortgage Rates (loan amounts up to $417,000 for 1-unit properties). The conforming rate quote below is based on owner occupied with a mid-low credit score of 740 or higher, “full doc” purchase with a sales price of $500,000 and a loan amount of $400,000 single family dwelling (non condo). This scenario includes reserves (taxes & insurance) not being waived. Rates quoted are priced based on a 30-40 day closing with no prepayment penalties on any of the rates quoted below.”
Posted in Baton Rouge Economic News, Baton Rouge Real Estate News | Tags: Baton Rouge, City Mortgage, Conforming Loan, Conforming Mortgage, Couple Of Days, Credit Score, Economy, Home Mortgage Rates, Insurance, Market Trend, Market Watch, Mortgage Loan, Prepayment Penalties, Rain City, Rates Mortgage, Single Family Dwelling | No Comments »
LA Realtors Report Good News For Baton Rouge Real Estate In July 2009
http://www.batonrougefhaappraisers.com/ – LA Realtors Report Good News For Baton Rouge Real Estate In July 2009
LA Realtors reports Pending Home Sales Record Fourth Straight Monthly Gain, as directly quoted:
“Pending home sales show a sustained uptrend, rising for four consecutive months with very favorable housing affordability and a first-time buyer tax credit boosting activity, according to the latest survey. The Pending Home Sales Index increased 0.1 percent to 90.7 from an upwardly revised reading of 90.6 in April, and is 6.7 percent higher than May 2008 when it was 85.0. The last time there were four consecutive monthly gains was in October 2004.
Lawrence Yun, NAR chief economist, cautions that there could be delays in the number of contracts that go to closing. “Closed existing-home sales have improved but are coming in lower than expected because some contracts are delayed or falling through from the application of new appraisal rules for many transactions,” he said. “Rises in contract activity show buyers are becoming more active even as they face much more stringent loan underwriting standards. Speedy clarification of the appraisal rules could smooth a housing market recovery and support the overall economy.” For more information, see the complete NAR news release.”
Posted in Baton Rouge Appraisal, Baton Rouge Appraisals, Baton Rouge Economic News, Baton Rouge FHA Appraisers, Baton Rouge Home Appraisers, Baton Rouge Real Estate Appraisal, Baton Rouge Real Estate Appraisers, Baton Rouge Real Estate News, FHA Appraisers Baton Rouge, Greater Baton Rouge Subdivision Video Tours | Tags: April, Baton Rouge Real Estate News, Chief Economist, Clarification, Contract Activity, Contracts, Economy, Existing Home Sales, First Time Buyer, Housing Affordability, Housing Market, La Realtors, Last Time, Nar, News Release, Pending Home Sales Index | No Comments »