Showing posts with label lloyd segal. Show all posts
Showing posts with label lloyd segal. Show all posts

Tuesday, July 22, 2014

Lloyd Segal Real Estate News - Why We Fall in Love—With Houses

Falling in love can be wonderful—and finding the perfect house can make a house-hunter weak in the knees.

As Valentine’s Day approaches, a survey by Realtor.com shows that falling head-over-heels for a house is fairly common—69% of respondents reported that they have had a home crush. House-hunters with a “home crush,” as defined in the survey, are drawn to the same house again and again. Realtor.com surveyed 1,082 individuals from Jan. 9 to Jan. 20 who reported having had a home crush.

Many people approach house hunting the same way they approach dating, by checking compatibility and fit, but the intangible factors are what tips a house from crush to true love, says Leslie Piper, Realtor.com’s consumer-housing specialist and an agent with Pacific Union in Lafayette, Calif.

“You have to make sure you know what’s really out there. You evaluate what is a turn-on and turn-off, and perhaps you’ll fall in love,” Ms. Piper says.

Also like dating, men and women approach a home crush very differently.

Some key findings from the survey:

Women are more likely to crush on home that is out of their price range: 41% of women said their home crush is out of their price range, compared with 30% of men.

Men tend to move from one home crush to another: 36% of men said they find a new home crush weekly, compared with 29% of women.

Outdoor living spaces are the most attractive home attributes to both men and women: 54% of women and 46% of men said outdoor living spaces like backyards, decks and patios make them fall in real-estate love. In addition, 42% of women preferred open-floor plans, and 40% of men indicated garages.

Nearly 80% of homebuyers first find their home crush on their computer. After that, about one-third then decide to go see the house in person.

About 16 years ago, Brenda Van Fossen of Lynchburg, Va., stumbled on a 2,600-square-foot, contemporary-style house with 10-foot ceilings and an open-floor plan. She called up the agent and was disappointed to hear that the house was already under contract.

But Ms. Van Fossen couldn’t get the house off of her mind. A year later, she found out that the house was back on the market and purchased it for roughly $170,000.

Ms. Van Fossen, who became a real-estate agent in 2006, says she has never felt this way about a house before: “That first night there, it sounds silly, but it was like I was in love.”

But love can have a downside—heartbreak.

“You have to be realistic. When you’re looking at homes outside of your price range, the last thing you want to be is disappointed. It would be like falling in love with someone on the other side of the country,” Ms. Piper says. To move on, she suggests keeping an open mind and perhaps considering several houses at the same time in case the first choice doesn’t work out.

Fortunately, unlike with relationships, picky homebuyers do not need to limit themselves to what’s on the market, she says. Rebuilding, redecorating or building from scratch are an option, too.

Lloyd Segal  news wsj.com

Monday, July 14, 2014

Foreclosure crisis is drawing to a close

Foreclosure crisis is drawing to a close
Our long national foreclosure nightmare may be over.

The number of new foreclosure filings in August hit its lowest level in nearly eight years, according to RealtyTrac, an online marketer of foreclosed properties.
Soaring home prices and a big decline in underwater borrowers -- those who owe more on their mortgage loans than their homes are worth -- have helped drive the trend.

August's initial foreclosure filings fell 44% to 55,575, just below the 56,063 that were recorded in October 2005. The foreclosure crunch began in summer 2006, at about the same time that housing prices hit their peak.

Lloyd Segal Foreclosure
Silicon Valley Dominates 2013 List Of America's Most Expensive ZIP Codes

In Atherton, Calif., 94027, the most expensive home on the market is listed for million. But perhaps the best gauge of this Silicon Valley enclave’s exclusivity is the price of a starter home. The cheapest house for sale in Atherton, a 1,194-square-foot, two-bedroom bungalow on a 6,000-square-foot lot, has a .2 million price tag.

The median price of the 50 single-family homes that were listed for sale over the summer in Atherton 94027 is .67 million, making it the most expensive ZIP code in America.

“Atherton is by far the closest, most centrally located of all the super high-end communities in Silicon Valley,” says Ken Deleon, a broker in Silicon Valley whose eponymous realty firm has closed 5 million in sales in the first three quarters of 2013. “Of all the high-end luxury cities [in the Valley] it is doing the best.”

Cash-flush foreign buyers from China and India have been moving in, joining the wealthy Americans who live there. Six FORBES 400 billionaires reside in Atherton, including Google Chairman Eric Schmidt, discount brokerage tycoon Charles Schwab, and HP chief Meg Whitman. “Just two days ago I was showing a million home in Atherton to a local tech CEO of a publicly traded company,” adds Deleon.

The top 10 of our list of Most Expensive ZIP Codes is dominated this year by California’s Bay Area. Atherton is followed in second place by Los Altos Hills, 94022 (not to be confused with neighboring Los Altos); Belvedere, 94920, at No. 4; and Portola Valley, 94028, at No. 9. Another seven Bay Area ZIPs round out the top 50, including Hillsborough’s 94010 (No. 13), Woodside’s 94062 (No. 22) and Palo Alto’s 94301 (No. 38). For more information about Lloyd Segal visit http://www.lloyd-segal.net

96,000 borrowers shortchanged in mortgage settlement

Checks meant to compensate mortgage borrowers who fell victim to foreclosure abuses have finally started arriving in mailboxes -- but many of the checks have come up short.

Due to a processing error, 96,000 borrowers received checks for less than what they were owed under a settlement reached between the government and 13 mortgage servicers, the Federal Reserve said.

Under the terms of the settlement, 4.2 million borrowers who went through foreclosure proceedings during 2009 and 2010 are eligible for checks of between 0 and 5,000, for a total of .6 billion in payments.

The list of abuses include foreclosing on borrowers when they were in the process of modifying their mortgages; repossessing homes of borrowers who were supposed to be protected by bankruptcy law; and foreclosing on active duty service members, among other things.

Saturday, July 5, 2014

How To Unload a Timeshare

How to unload a timeshare

Is there a legitimate way to sell a timeshare? Read in June issue of Money Magazine about a guy in Ohio who sold his at a loss and wanted to claim a capital loss. I'd like to just get rid of mine, regardless of a loss. --Mike, Fort Myers, Fla.

Timeshares give owners joint ownership in vacation properties, often in tropical hotspots like Hawaii or Florida. But on top of purchase costs, the properties typically come with annual maintenance fees and other costs that can add up to thousands of dollars a year.
Whether the resort wasn't the vacation paradise they intended or they simply couldn't afford it anymore, many timeshare owners have struggled to unload properties they purchased during better financial times.

This has created fertile ground for scam artists, who charge thousands in upfront fees to help sell timeshare properties, but rarely facilitate actual sales, the Federal Trade Commission warns.

But you can unload a timeshare without getting stuck in a scam. Just be prepared to lose money on the sale, since resale prices are usually much lower.


Lloyd Segal