What’s the housing market going to be like in 2009?
by elizabetheugenio on January 7, 2009
After comparing the number of homes sold in December 2007 and sales in December 2008, we saw an increase of 111% in December 2008. Since prices and interest rates have gone down, buying a home is now more affordable to more people. First time buyers are taking advantage and this accounts for a big percentage of the transactions.
Foreclousres will play a big part in the real estate scene for a while longer. In an effort to prevent foreclosures, many lenders are allowing “early workout” loan alterations. Qualified borrowers who will be facing financial difficulty from a loss of job and other reasons, under the Fannie Mae’s program, can enter into a trial period of reduced payments for four months. If payments are made on time under the reduced payment plan during the trial period, their modified payment may become permanent.
If you see problems looming ahead that will cause serious delinquency, call you lender immediately and find out if your loan is owned by Freddie Mac, Fannie Mae and other major lenders and ask for an early workout.
If you would like more information regarding this, please contact me.
Elizabeth M. Eugenio, (909) 376-8615
Email: Elizabeth@HomesByLiz.com, website: www.HomesByLiz.com
Certified Distress Property Expert (CDPE), Certified Residential Specialist (CRS), Graduate Realtor Institute (GRI), Certified Foreclosure Specialist, (CFS).
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Economic Times,
Loan Modification,
Market Update
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Since 1991, I have served the residents of Chino Hills and surrounding cities. Providing exceptional customer service has been my top priority earning me referral and repeat business from family, friends, associates and past clients.
The advanced training in finance, marketing and technology I received as a Certified Residential Specialist (CRS) designee provides you better representation making the buying and selling process a more profitable and easier experience. Only 4 % of Realtors in the nation has earned this designation.
Short Sale and Foreclosure Resource (SFR) is the only designation recognized by the National Association of Realtor for short sale and foreclosures. This designation and the (CDPE) Certified Distressed Property Expert has allows me to better assist you as a buyer on your purchase of these properties and as a homeowner experiencing financial hardship avoid foreclosure.
Additionally, the Seniors Real Estate Specialist (SRES) designation has helped me serve the special needs of the 55 years and better population by making the process easier and help keep more of your r money when you move.
Contact me for all your real estate needs and you can count on me to provide you better representation and make sure you have an easier and smoother transaction. I can be reached at (909) 376-8615 or at: Elizabeth@HomesByLiz.info.
Elizabeth has written 27 articles on this blog.
