Category Archives: Uncategorized

Short Sales Falling Apart

Posted on March 5, 2013 | Leave a comment

Fannie Mae’s asking price: $260,000, or roughly 30 percent above the highest comparable sale in that area.

Need to know what the property would probably appraise at? Contact the appraisers at www.scappraisals.com for your appraisal questions.

That offer was actually made by Bank of America on behalf of Fannie Mae. As with many loans, one company can own the loan and another company can service it. Servicing a loan means accepting and managing mortgage payments from borrowers.

Fannie Mae gives loan servicers a minimum price that it’s willing to take in a short sale. The mortgage-finance company says it will even consider “close” offers, Wilson said.

Responsibility delegated

If the buyer’s offer doesn’t meet the minimum, then servicers like Bank of America negotiate on Fannie’s behalf. This delegated responsibility, in fact, was expanded in the fall as a way to speed up short sales.

If a buyer wants to dispute the Fannie Mae value, then the servicer can send it to Fannie Mae for review.

That happened in DePlachett’s case. Analysis of comparable condos, either listed at or sold for sub-$200,000, were turned in along with other market details.

Disclaimer: for information and entertainment purposes only

10 Fabulously Fanciful Bedrooms

Posted on February 12, 2013 | Leave a comment

See all at: http://sfgate.houzz.com/ideabooks/6461212/list/10-Fabulously-Fanciful-Bedrooms/w/sid=1

Disclaimer: for entertainment and information purposes only

Apps for Homeowers who are Remodeling

Posted on January 4, 2013 | Leave a comment

Mobile technology has broadened our horizons in so many ways. Applications on smartphones and tablets even have become useful to homeowners who are remodeling or redecorating their homes. These handy apps, available through Apple’s iTunes Store or the Android’s Google Play, can help the design process, keep your project organized and do a lot of your work on the go.

Will your upgrades add value to your home? Contact the appraisers at www.scappraisals.com for your value questions.

Magic Plan

This incredible app measures your rooms and draws your floor plan by taking photos. The tutorial video helps you get started. Also check out the site’s details on using the floor plans for commercial use. Here’s how it works:

You take a photograph of the corners of a room. This allows the app to measure the walls and doors, identify the shape of the room and draw a floor plan.

For more than one room, you assemble them with your finger and the app will align the rooms, manage the wall thickness and door coherence.

Add photos, furniture and comments to customize your room. Then “publish” on the Web for an interactive floor plan. The app also can generate jpegs and pdfs.

Free for iOS. sensopia.com