KCM Blog

From the category archives:

Short Sales

Are Modification Programs Actually Working?

August 24, 2010

One of the greatest threats to a housing recovery is the months’ supply of housing inventory available for sale. A normal market would have between 5-6 months inventory. We currently have 8.9 months of inventory and most experts believe that number will increase rather dramatically when the National Association of Realtors’ August Existing Housing Report [...]

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A Conversation on Short Sales vs. Strategic Defaults

July 9, 2010

I recently had an email conversation with a well respected real estate professional about the difference between strategic defaults and short sales. We both agreed that we needed to share our conversation with the readers of this blog. Original Question: I have heard that a short sale might be better than a strategic default. However, they are painfully [...]

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A Foreclosure’s Impact on Neighboring Home Values

April 14, 2010

Yesterday, we covered the coming surge of distressed properties that will enter the market in 2010. Today, we will discuss the impact these properties will have on housing values as we proceed throughout the year.  Questions you should be asking yourself are: 1) Do distressed properties sales impact the value of the surrounding homes, 2) [...]

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Foreclosures: Their Impact on Real Estate 2010

April 13, 2010

I firmly believe the foreclosure situation will be the main story line in real estate for the rest of 2010. There will be other key factors (unemployment, government involvement, interest rates, etc.). However, no issue will have the same impact as the tidal wave of distressed properties about to come to market. For purposes of [...]

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A Short Sale on the New HAFA Program

March 26, 2010

The new Home Affordable Foreclosure Alternative (HAFA) program is rapidly approaching. As of April 5, 2010 the new guidelines for short sales will be in effect. Everyone should be aware of the changes and understand why this will have a tremendous impact on the real estate market throughout 2010. Today, I want to talk about [...]

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I’m Fine, It’s My House That’s Drowning.

March 1, 2010

First American Core Logic just released their Fourth Quarter 2009 Negative Equity Data Report last week. Negative equity, often referred to as “underwater” or “upside down,” means that borrowers owe more on their mortgage than their homes are worth. The reason this report is so important is that studies have shown that there is a direct [...]

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HAFA Helping Homeowners: A Guide to Short Sales

February 10, 2010

Today’s post is dedicated to helping families find an alternative to foreclosure, and helping them return to the goal of homeownership more quickly; therefore, we are emphasizing the brochure developed by the National Association of Realtors (NAR) that nicely summarizes the existing HAFA Program. On November 30, 2009, the Obama Administration released guidelines and uniform [...]

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Don’t Be Short-Sighted on Short Sales

February 4, 2010

There was an interesting article that was posted on The KCM Crew fan page the other day titled: Surge in Short Sale Requests Unlikely to Impact Housing Market. In this article, it was reported: In the first half of 2009, only 40,000 short sales were completed, according to the most recent data available from the [...]

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New Short Sales Process Puzzle Coming Together

January 25, 2010

The Treasury Department has announced new guidelines to ensure ‘short sales’ will be more readily initiated. The program starts April 5, 2010; but servicers have the option of starting sooner. The administration is taking steps to prepare for the increase in short sales that the new guidelines will create in 2010. A short sale is a [...]

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Delinquencies: Roadblock to a Housing Recovery?

January 20, 2010

The current economy has devastated the finances of so many families in every income bracket and in almost every neighborhood in this country. More and more people are falling further and further behind in their mortgage payments. In the past people would take a second job or borrow money from family to catch up. Today, [...]

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