Author: Carrie B. Reyes

“The housing recovery is upon us!” – not so fast

Do you think home prices will go any lower than their current average before a sustained recovery? Yes (61%, 120 Votes) No (39%, 76 Votes) Total Voters: 196 Optimists everywhere have been abuzz, claiming the housing industry is showing marked signs of recovery. It’s okay to focus on the positive, but we’re not out of the woods yet, according to Washington Post’s business columnist Barry Ritholtz. Prices must stabilize before a recovery is reached, and that has yet to occur. Unless something drastic occurs, shadow inventory and negative equity remain factors in light of massive delinquencies in mortgages, and...

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HARP strikes back, but will lenders conform?

How many of your clients seeking to refinance will qualify for HARP 2.0? 10% or less (81%, 59 Votes) 25% (14%, 10 Votes) 50% (3%, 2 Votes) 75% or more (3%, 2 Votes) Total Voters: 73 The revised Home Affordable Refinance Program (HARP 2.0) is up and running, as Fannie Mae and Freddie Mac (Frannie) have updated their automated systems to coordinate with HARP 2.0 guidelines. To qualify for HARP 2.0, the homeowner refinancing on a first loan must: have an income; be current on payments; have a loan that was purchased by Frannie before June 1, 2009; have...

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Tax avoidance for discounted shortpays set to expire – are Californians in trouble?

Do you support renewing the Mortgage Forgiveness Debt Relief Act? Yes (80%, 207 Votes) No (20%, 52 Votes) Total Voters: 259 Is the end nigh for shortsales? In response to the housing crisis, the federal Mortgage Forgiveness Debt Relief Act (the Act) expanded tax relief for lender discounts on shortsales to cover both recourse and nonrecourse mortgages. If the Act is allowed to expire at the end of 2012, many California homeowners with underwater homes will lose their ability to avoid income taxes on the resulting discharge-of-indebtedness income. In the fourth quarter of 2011 there were over two million...

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Polls

How often does the fee split offered by the cooperating broker determine whether you show a property to your client? (Your votes will remain anonymous)

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Do you think import trade barriers drive up the cost of housing?

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from POLLS: Fee splits and trade barriers

Check out our polls from last week here.

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