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Bobbie Files' Blog

By Bobbie Files | Agent in 02780
  • The Mortgage Bankers Association Interview

    Posted Under: Market Conditions in Massachusetts  |  March 12, 2009 5:04 AM  |  1,840 views  |  1 comment

    The real estate market in Massachusetts is not nearly as bad as the National Media likes to report.  In fact, Massachusetts ranks the the TOP 10 (#7) of the Best Real Estate Markets in the nation.  The foreclosure rate in Massachusetts is not even in the top 15 of the highest in the nation.  So, having the correct facts at hand paints a different picture of the real estate market that we are in locally.

    That being said we are still having a very real problem with the short sales.  The horrendous and painfully slow pace at which they operate is putting unnecessary downward pressure on the market and the pricing. Listening to the Mortgage Bankers Association Members Interview talk about a banks willingness to help almost threw me off my chair.  The leders are in a very small and infrequent way assisting home owners in getting out of their troubled mortgages.  They make the process, whether it is a loan re-structure or a short sale, longer and more tedious than it needs to be.

    Countrywide's short sale department, in my opinion based on NUMEROUS closings, is one of the WORST , most ineffective and incompetently staffed lenders to deal with.  When the bankers get together to "discuss" the market and solutions do they have ANY input from the consumers and Realtors who are dealing with this each and every day?  I would highly doubt it.  If they did I am sure the process would get streamlined to be more effective and cost efficient.  Their exhorbitant delays COST them huge amounts of money, and than to find loss mitigators that are less than educated or competent making poor financial decisions costing them even larger amounts of money.  I thought their titles were "Loss Mitigators" not "Loss Creators"

    Listen to the short interview by clicking here

    Bobbie Files
    Your Bristol and Plymouth County Realtor

    Visit my website at www.BerkleyMass.com

    Search for Berkley Ma Homes at: http://BerkleyHomes.BerkleyMass.com

    Search for Taunton Ma Homes at: http://TauntonHomes.BerkleyMass.com

     For those struggling to pay your mortgage payments please visit: http://shortsales.berkleymass.com

    ARE YOU INTERESTED IN PURCHASING ONE OF THE INCREDIBLE FORECLOSURE BUYS ON THE MARKET???
    VISIT -
    http://JustForeclosures.BerkleyMass.com

  • Boston Housing Market Ranks in the Top 10 of the best Housing Markets

    Posted Under: Market Conditions in Massachusetts  |  March 6, 2009 5:19 AM  |  2,195 views  |  1 comment


    In Depth: 10 Best And 10 Worst U.S. Housing Markets
      Read the full story Matt Woolsey
             ed
    Boston
    © Shutterstock

    Source: S&P/Case-Shiller home-price index, released Feb. 24, 2009. Methodology: Rate of home price increase or decrease was calculated by examining data covering the time period between November 2008 and December 2008 for month-to-month results, and December 2007 to December 2008 for year-over-year results.

    Best, No. 7: Boston, Mass.

    Index score: 153.05

    Prices were last this low: June 2003

    Month-to-month drop: -1.28%

    Year-over-year drop: -7.01%

    Deceleration rank: No. 6


    An article appearing on Forbes.com last week analyzed the latest data from the S&P/Case-Schiller Home Price Index and ranks metropolitan Boston as one of the strongest housing markets in the U.S.  Boston ranks seventh nationally thanks to a slowing rate of price decline, a modest foreclosure rate compared to other U.S. cities, and the fact that the Boston market does not have an overabundance of new construction inventory. 

    Bobbie Files
    Your Bristol and Plymouth County Realtor

    Visit my website at www.BerkleyMass.com

    Search for Berkley Ma Homes at: http://BerkleyHomes.BerkleyMass.com

    Search for Taunton Ma Homes at: http://TauntonHomes.BerkleyMass.com

     For those struggling to pay your mortgage payments please visit: http://shortsales.berkleymass.com

    ARE YOU INTERESTED IN PURCHASING ONE OF THE INCREDIBLE FORECLOSURE BUYS ON THE MARKET???
    VISIT -
    http://JustForeclosures.BerkleyMass.com

  • This Month in Real Estate - February 2009

    Posted Under: Market Conditions in Massachusetts  |  March 6, 2009 4:52 AM  |  573 views  |  No comments


    The real estate market is continuing to go through changes. But there are many positive signs that are finally starting to show.

    Bobbie Files
    Your Bristol and Plymouth County Realtor

    Visit my website at www.BerkleyMass.com

    Search for Berkley Ma Homes at: http://BerkleyHomes.BerkleyMass.com

    Search for Taunton Ma Homes at: http://TauntonHomes.BerkleyMass.com

     For those struggling to pay your mortgage payments please visit: http://shortsales.berkleymass.com

    ARE YOU INTERESTED IN PURCHASING ONE OF THE INCREDIBLE FORECLOSURE BUYS ON THE MARKET???
    VISIT -
    http://JustForeclosures.BerkleyMass.com

  • What is this Fannie, Freddie Bailout? And does it help me?

    Posted Under: Market Conditions in Massachusetts  |  September 9, 2008 4:53 AM  |  529 views  |  1 comment

    First I want to let you know who Fannie and Freddie are:

    Fannie was created during the depths of the Great Depression, and Freddie in 1970, to help make mortgages more affordable for homeowners. The companies buy billions of dollars in mortgages each month from commercial lenders. Some are sold to investors as mortgage-backed securities; others are held by the companies in their own investment portfolios. These 2 companies back almost 80% of all mortgages generated so their failure would be catastrophic.  Bailing our private companies is not a path I want our government to go down BUT and this is a big BUT not bailing out Fannie and Freddie has a far more negative impact to the global economy than letting them fail.  The plan represents a cease-fire in a decades-long ideological battle over the proper role of the companies. Free-market conservatives see the companies as extensions of "big government," while Democrats have protected them as the main vehicle to promote affordable housing for middle- and lower-income people.


    Does this bailout help me?

    Well the short answer is - Probably, not definitely, but economists and other people with more knowledge than my self say it will.



    How will it help me?

    The government plans to buy significant amounts of their mortgage-backed securities on the open market, beginning with the purchase of $5 billion worth this month. This step, never before undertaken by the government, could begin to restore some confidence in the credit markets and lead to lower interest rates for home mortgages.


    Both of these giants who got too big for OUR good needed to be bailed out for the best interest of all of us.  Hopefully, the government really cleans their homes out and disciplines the babies for bad behavior!!

 
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