The March 4 announcement of the Treasury’s “Making Home Affordable” program includes some relief for borrowers who are not delinquent on their mortgage but who have not been able to take advantage of recent lower rates because their 20% equity position has been eroded.
Under the old rules, with property values down from their peaks, people who [...]
Archive for the ‘Property and Value’ Category
Home Value Down? “DU Refi Plus” May Avoid PMI
Posted in News, Opinion & Analysis, Property and Value, Refinancing on March 5, 2009 | Leave a Comment »
Better Caulking Experience – By Design
Posted in Materials & Maintenance, tagged caulk, design thinking, IDEO on November 18, 2008 | Leave a Comment »
In the checkout line at Lowe’s last week, I noticed a product that fascinated me: little single-use packets of caulk. Using it doesn’t require a gun, and it wasn’t in those big messy tubes that you waste if you just have a small project.
Like many of you, perhaps, I have a sticky relationship with caulk. So [...]
Buying a Distressed Home: Does Condition Matter?
Posted in Materials & Maintenance, Mortgages, Property and Value, tagged condition in foreclosed home, Renovation on November 14, 2008 | Leave a Comment »
A search-engine query sparks this post.
Sometimes “distressed” homes, homes at or near bank foreclosure, are not in the best of shape. Does their condition impact a buyer’s financing?
A house’s marketability is a factor in obtaining financing, and is judged by the appraiser who evaluates the home for the lender. A home that shows a lot of [...]
Innovating in a Risky Business
Posted in Home Selling, Mortgages, News, Opinion & Analysis, Property and Value, tagged automated underwriting, FDIC mortgage plan, underwriting changes on November 3, 2008 | Leave a Comment »
On October 17, Freddie Mac announced it would be “eliminating purchases of all mortgages originated with stated income and/or stated assets, including borrower-selected programs, lender-branded and marketed programs, and system-selected programs such as Loan Prospector Accept Plus.” It also will institute a debt ratio of 45% for all mortgages beginning in February of 2009. Similar [...]
Are You Living Upside-Down in Your House?
Posted in Credit, Home Selling, Mortgages, Property and Value, tagged upside-down on October 31, 2008 | Leave a Comment »
Most of us are familiar with the idea of being “upside down” when we buy a new car. We understand that a new car’s value will decline as soon as it leaves the dealership and becomes ours. But houses? We are so used to home values going up, we forgot they can also come down.
Because [...]
More on Property Value
Posted in Property and Value on August 7, 2008 | Leave a Comment »
We’d all like to think that our home has intrinsic value, based on, say, what we paid for it originally, plus what we put into it, plus what we are paying in sales commissions.
If you are in the market to buy or sell, read up on the definition of “fair market value.” This will help [...]
Considering Renovation: What Else Could You Get?
Posted in Property and Value, Renovation on April 10, 2008 | Leave a Comment »
I was recently visited by a past customer who is considering building an addition to his home and wanted to talk through the project.
He loves his location but needs more space. He bought the house a number of years ago for $250,000, its value has increased to $350,000, and he is considering spending $150,000 on the addition.
Financially, it [...]
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