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property tax

New York Home Sales Lag Behind 2010 Start

Home for Sale/Credit: Comstock

New York State home sales in the first quarter of 2011 lagged behind last year’s federal tax credit-driven market, falling off by nearly five percent, according to preliminary single-family sales data accumulated by the New York State Association of Realtors (NYSAR). The statewide median sales price increased by more than five percent from the first quarter of 2010.Click to continue

Avoiding deals with property value issues

Value_Nation_Art

If we could somehow collect and reinvest all of the resources wasted on potential loans that do not close due to unrealistic property value exercitations, we would be wealthy individuals. This is especially true in today’s environment of underwriter skepticism and the tightening of standards due to the recent mortgage meltdown. We are not talking about appraiser mistakes that do occur from time to time. We are talking about circumstances where the property value simply is not there.Click to continue