Types of property ownership in Florida: Prior to closing, a homebuyer who is purchasing property in Florida mus.. http://bit.ly/dhD5wr

Real estate news update: A daily dose of headlines for real estate agents, mortgage lenders and consumers. http://bit.ly/cY4jYn

How to avoid settlement delays due to a mechanic's lien: A mechanic's lien is a common but easily preventable o.. http://bit.ly/cSwJMH

How to qualify fo DC Homestead Deduction: Real estate agents and homebuyers often ask us about DC Homestead Ded.. http://bit.ly/crzHov

Real estate news update: A daily dose of headlines for real estate agents, mortgage lenders and consumers. http://bit.ly/a1slEe

Guest bloggers wanted: How would you like a chance to be front and center before thousands of curious consumers.. http://bit.ly/98PWh2

Debunking common excuses for waiving title insurance: With the growing concerns over foreclosures, unpaid taxes.. http://bit.ly/d3W06g

Real estate news update: A daily dose of headlines for real estate agents, mortgage lenders and consumers. http://bit.ly/bzcqWX

Order settlement services from your smart phone: An increasing number of real estate firms are providing homebu.. http://bit.ly/96rLAW

Short sales, foreclosures and taxes ... oh my!

In the light of the current residential real estate market, short sales and foreclosures in Florida are becoming more commonplace. As with standard real estate transactions, taxes play a large part in the closing process when it comes to short sales and foreclosures.

In Florida the closing agent is responsible for calculating the documentary stamp tax, intangible tax and other real estate taxes depending on the transaction. 
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Real estate news update

A daily dose of headlines for real estate agents, mortgage lenders and consumers.
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Strategic default on homes on the rise

At a time when one in four homeowners is underwater, and 2 million more Americans have gone through foreclosure, the thought of defaulting on a loan is becoming less taboo. In fact, many homeowners are taking a cue from high-profile investors, who have walked away from multi-billion dollar real estate investment projects, and choosing to cut their losses, the San Francisco Chronicle reports.

Foreclosure and delinquency rates remain high, a Treasury official said in prepared statement Monday. And though there are signs of recovery in the housing market, the federal government still has a lot of work ahead of them, he said.

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How to qualify for the DC Tax Abatement program

The DC Tax Abatement program is a program designed by the District of Columbia to help lower income homeowners purchase property. Here are some oft asked questions from agents and potential homebuyers. http://bit.ly/d1eZL2

How to qualify for the DC Tax Abatement program

The DC Tax Abatement program is a program designed by the District of Columbia to help lower income homeowners purchase property. Here are some oft asked questions from agents and potential homebuyers.

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Real estate news update

A daily dose of headlines for real estate agents, mortgage lenders and consumers.

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Refinance borrowers struggle to capitalize on low mortgage rates

Borrowers are missing out on billions of dollars in savings because high rates of negative equity, tighter lending standards and falling incomes have made it difficult for many to refinance.

Federal officials are investigating ways to help refinancing borrowers, and last week the White House announced it will extend its Home Affordable Refinance Program.

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Just how good is the new Good Faith Estimate

Two months since the new RESPA rule took effect, some mortgage lenders report consumers are asking more questions throughout the homebuying process, while others say consumer confusion has simply taken a new shape.

The new rules will hopefully ensure fewer surprise fees, but does the new Good Faith Estimate make it easier for consumers to understand the terms of their loan program?

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DC Housing Assistance Council awarded $9.1 mil in 'sweat equity' grants

The U.S. Department of Housing and Urban Development awarded $9.1 million in "sweat equity" grants to the Housing Assistance Council in the District of Columbia to produce affordable homes for low income individuals and families. The funding awarded Thursday through HUD's Self-Help Homeownership Opportunity Program along with the labor contributed by these households will significantly lower the cost of homeownership. http://tinyurl.com/yjq76gz

Title Report: Federal Title provides GFE quote guarantee to mortgage lenders

Lenders navigating new RESPA rule are being encouraged to rely upon the accuracy of Washington, D.C.-based Federal Title & Escrow Co.’s online quote system to prepare their Good Faith Estimate (GFE) forms.

“Our online quote is accurate to the penny, or we'll pay the difference,” company President Todd Ewing said.
Federal Title aims to take some of the pressure off of lenders with an accurate, online GFE-based quote system.

If a lender uses the system to prepare a GFE and winds up in violation of the tolerance limitations, Federal Title will pay the difference between the quote and the final HUD-1 executed on the day of settlement, Ewing said.

The promise is called the Zero Tolerance Guarantee and it specifically covers HUD-1 series line items 1100 and 1200, also known as "title charges" and "government recording and transfer charges," which include transfer and recordation taxes, recording fees and title insurance premiums.

As the RESPA final rule aims at transparency, the title insurance industry is beginning to shift toward the same business model Federal Title adopted some time ago, Ewing said.

"Lenders are not only seeking instant, electronic quotes for title work that don't throw off any specified tolerances, they've come to expect them," he said. "With so much information available through a few taps of the keyboard, who wants to call up and ask for numbers?"

Google for Real Estate Agents

Before a customer ever picks up the phone to ask for your business, chances are she spent a sizeable chunk of time investigating her needs and your services online.

Today more than ever, potential homebuyers are using search engines, particularly Google, to find anything from a reputable real estate agent to their next (or first) dream home.

To help you connect with homebuyers, check out Google for Real Estate Professionals [ http://www.google.com/realestateagents ], a wonderful toolkit where you'll find just about everything you need to make sure potential clients find you on the World Wide Web.

For example, with Google Maps [ http://www.google.com/help/maps/realestate/agents/maps.html ] homebuyers can view a property from a bird's eye or street view, explore traffic and public transit information and, perhaps most importantly, learn how to get in touch with you. All you have to do is upload your listings.

Once you finish uploading, take a couple extra minutes to explore the Local Business Center [ http://www.google.com/lbc ], where you can claim and manage your business listing.

YouTube [ http://www.youtube.com ] is a great way to showcase not only your listings but your business as well. Post a testimonial video from a happy homebuyer or an informative piece that explains a tricky aspect of the homebuying process. Let your potential clients get to know you by guiding them on a walk-through of your newest property listing.

All services in the Google for Real Estate Professionals toolkit are fairly easy to figure out, and just about all are completely free to use.