FORECLOSURE SETTLEMENT–12,207 Idahoans Eligible

FORECLOSURE SETTLEMENT–12,207 Idahoans Eligible

Between 2008 and 2011 over 12,000 Idahoans lost their homes to foreclosure and are now eligible for relief through the National Mortgage Settlement.

At a minimum, borrowers which had their home foreclosed upon will receive $840.00 yet the claim amount will vary since the amount of the claim granted will be determined by the amount of claim forms submitted.  The settlement totals 24 billion nationwide and includes 5 national banks.

Idaho Attorney General Lawrence Wasden states that “this payment is not intended to compensate Idahoans for the loss of their homes.  Rather, it is a step toward accountability for unfair business practices that harmed Idaho homeowners”

The banks which are involved in the settlement are as follows:  JP Morgan Chase, GMAC, Citi, Ally and Wells Fargo.

A letter from Attorney General Wasden, claim form and instructions on how to apply for payment will be sent to the 12,207 Idahoans.

Idaho Ranked #2 for Strongest Housing Markets

Idaho Ranked #2 for Strongest Housing Markets

Signs of a housing recovery continue although recovery has been slow in many areas.  From July of 2011 to July of this year, prices increased by more than 5.5% in 10 states.   Most of the states seeing a more stout housing recovery have many things in common.

Many, like South and North Dakota, have held a jobless rate below the national average.  In these particular states, home prices slightly dropped during the housing bust.  In economically stable areas home prices are expected to move higher although the increase will be modest.

Some states, such as Idaho, with the largest price increases during the “boom”  were hit very hard by the housing bust.  States such as Florida and Arizona saw home prices drop nearly 50%.  The decline was nearly 60% in Nevada.  The recovery is expected to be temporary in all 3 states.

Data points to an uneven housing recovery which will be based upon what happened to home prices geographically since  2007.  Housing markets which had economic strength throughout the recession will continue to improve.  States hurt by sharp declines in home values and high unemployment should expect the housing recovery to be difficult and long.

Below you will find the ranking  by 24/7 Wall St. of the 10 states with the strongest housing markets:

1)      Arizona

2)      Idaho (1 year home price change: 10%, Median home price:  $85,000, Unemployment:  7.5%)

3)      Utah

4)      South Dakota

5)      Colorado

6)      North Dakota

7)      Florida

8)      South Carolina

9)      Hawaii

10)   Montana

 

HUD HOME—HANDYMAN SPECIAL!

HUD HOME—HANDYMAN SPECIAL!

1303 E Dewey Ave  Nampa, ID  83686

Another great home to the market!!  HUD home with a remodel “in progress” and containing 1 bedroom on the main level, 2 bedrooms below grade, 1 bathroom (the secondary bathroom is in the remodel stage), 1428 square feet on the main level and 1327 square feet contained w/in the basement. Interior features include hardwood flooring, energy efficient windows, updated furnace/AC, large bedrooms, ceiling fans and recessed lighting. The exterior contains a large storage shed, covered back patio/deck, RV parking w/street access and plenty of parking spaces.  Investors are eligible to purchase this home immediately.  Priced at only $86,500!

The seller of this HUD home for sale may provide a closing cost credit of 3% to be included with the purchase of this home.

An approximate monthly payment for this HUD owned Nampa home for sale at the asking price of $86,500 while placing 3.5% down (4.25% interest rate—taxes and insurance(s) included) would be at or around $660.00  monthly—why rent?!?  **qualified 1st time homebuyers may be eligible for programs which offer $500 down payment options**

Please visit www.trustidaho.com to view detailed information and additional photos of this HUD home for sale.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

**INVESTORS—call me now if you’re sick and tired of your hard earned funds sitting in non-performing stocks or low interest bearing savings accounts.  The time is NOW to invest in real property that will obtain at least $650 per month in rental income (not to mention future pricing appreciation).

Interested in obtaining information on all HUD owned homes for sale?  I am happy to forward a list of available HUD owned homes within 24 hours upon obtaining your request.  Please call me at 208-869-3469 or send your request to:  matt@trustidaho.com

Call today for additional information or to view the interior of this or alternate HUD  homes for sale!

Country Living at it’s Finest!

HUD HOME FOR SALE

9907 Wilbeth Lane  Nampa, ID  83686

Another great home to the market!!  HUD home containing 3 bedrooms, 2 bathrooms, 1530 square feet and sitting on an oversized lot (.62 acres) located within a quiet country community w/no CC & R’s. Interior features include a wood burning fireplace, ceiling fans, spacious bedrooms, tile flooring & tile counter tops. The exterior contains mature landscaping, RV parking, concrete curbing, storage shed, covered back patio & fruit trees. Priced at only $110,000!

The seller of this HUD home for sale may provide a closing cost credit of 3% to be included with the purchase of this home.

An approximate monthly payment for this HUD owned Nampa home for sale at the asking price of $110,000 while placing 3.5% down (4.25% interest rate—taxes and insurance(s) included) would be at or around $663.00  monthly—why rent?!?  **qualified 1st time homebuyers may be eligible for programs which offer $500 down payment options**

Please visit https://trustidaho.com/search/#PropertyID=50482736 to view detailed information and additional photos of this HUD home for sale.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

**INVESTORS—call me now if you’re sick and tired of your hard earned funds sitting in non-performing stocks or low interest bearing savings accounts.  The time is NOW to invest in real property that will obtain at least $650 per month in rental income (not to mention future pricing appreciation).

Interested in obtaining information on all HUD owned homes for sale?  I am happy to forward a list of available HUD owned homes within 24 hours upon obtaining your request.  Please call me at 208-869-3469 or send your request to:  matt@trustidaho.com

Call today for additional information or to view the interior of this or alternate HUD  homes for sale!

 

Home Buyers: Is the market “shifting” against you?

Home Buyers:  Is the market “shifting” against you?

A survey which takes into account 982 prospective home purchasers in 19 markets show an increasing trend that home prices are increasing along with a growing reluctance to be involved with multiple offer situations.

Many of the home buyer’s which emerged last spring and eager to take advantage of low interest rates and the best home pricing we have seen in quite some time  now seem to have become discouraged by the intense competition for a limited selection of homes for sale.  The survey was conducted by Redfin during the month of August.

Seven of the ten respondents surveyed stated that they had encountered competition on at least 1 offer.  31% of those mentioned that they would “back off” when faced with a multiple offer situation—up from 28% during the 2nd quarter.

46% of the respondents surveyed believe that now is a good time to purchase a home—down 56% from the first quarter of 2012.  32% of the survey respondents think that it is a good time to sell—up 13% from the previous quarter.  61% of those surveyed believe prices will increase—up 32% from the 1st quarter.  This is obviously evidence that potential buyers think that the market may be shifting against them.

The Association of Realtors stated this week that its index of pending homes sales posted year-over-year gains for the 15th consecutive month.  This is the highest level seen since April of 2010.

NAR warned that the limited supply of homes for sale is naturally constraining sales.

It’s not too late according to James, a first home builder in Perth—home prices and interest rates are still at historic lows.  Granted, the home buying process may take longer than it would have 1 year ago yet I can assure you that with a little determination and patience your “dream home” will be found.  Call me today to start the process!  208-869-3469 . . .

The potato state–a leader in the real estate recovery

The potato state–a leader in the real estate recovery

Home prices throughout the United States increased 3.8% in the twelve months ending in July.  The 12 month increase was the largest in 6 years—further evidence of the housing markets recovery.

Home prices also increased 1.3% from June to July—the 5th increase in both monthly and yearly price indexes.  The Standard & Poor’s/Case Shiller index and the federal government housing agency also reported annual increases.

The states with the most substantial price increases over the last 12 months were Arizona, Idaho, Utah, South Dakota and Colorado.  The state of Idaho posed a 10% gain in real estate pricing since July of 2011.

Unfortunately, however, not all states are seeing real estate prices increase.  For example, in Delaware home prices dipped 4.8% w/in the last 12 months.  Alabama saw prices decrease 4.6% during that same time period.

Although the recovery has been slow, evidence shows that the real estate market is bouncing back.  Sales of previously occupied and new construction have increased.  Builders are becoming confident in the market and starting new projects.  Mortgage rates, as you most likely know, are at historic lows.

On the flip side, prices are rising due to the supply of available homes for sale being limited.

Most think that the housing recovery is in the beginning phases since prices remain 27% lower then prices during the peak of 2006.

The recent improvements in the real estate market have been widespread with only 23 of the 100 large cities tracked showing a year-over-year decline in real estate pricing.