Second mortgages have become one of the biggest roadblocks to closing short sales.
There are about 450,000 properties in some stage of the foreclosure process with at least one junior lien, according to real estate research firm CoreLogic. These second liens are a primary challenge for Freddie Mac, said Mark Johnson, who oversees short sales for Freddie.
Holders of second liens have little left to lose so some of them are willing to get in the way of a deal in hopes of being thrown a bone, said Jon Goodman, a real-estate lawyer and investor in Boulder, Colo.
Source: The Wall Street Journal, Nick Timiraos (11/27/2010)
Why Some Residences Sell And Some Don't
Do you have a place similar to 18931 Highland Park Dr in Prince William County that hasn't sold? Did you know that in Lionsfield Valley:
The foreclosure mess is making it harder for banks to sell properties. ForeclosureRadar, which tracks foreclosures in five Western states, says the number of properties coming to auction in Arizona, California, and Nevada has declined by more than 30 percent.
Investors are backing away from sales because they fear that the properties they buy will be tied up in an investigation, says Sean O’Toole, CEO of Foreclosure Radar.
O’Toole believes the problem is short-lived and ultimately will be settled in favor of the banks. “The fear that has been created in based more in hype than in law,” he says.
Source: CNNMoney.com, Les Christie (11/29/2010)
Julie Nesbitt knows the back trails and by-ways of Northern Virginia real estate.
We played a game at the office this Sunday. Lots of fun. Sincerely, Will Nesbitt Principal Broker Nesbitt RealtyAlexandria VA licensed in the Commonwealth of Virginia and the State of Maryland 703 765 0300 (main) 571 237 7902 (direct)888 783 6391 (fax) ——– Original Message ——– Subject: The Empire Strikes Back Pictures From: [email protected]…
Understanding the tenets of title insurance is especially important considering the turmoil in the real estate industry.
Title insurance is intended to protect the insured from improper titling, including defects in foreclosure proceedings, forgery, or impersonation or cases in which no title is legally conveyed. Other defects are partial, such as a neighboring fence or garage encroaching on the insured person’s property.
The title insurance industry recently set down strict guidelines for when and if they will insure a title to a property on which there has been a foreclosure.
The buyer should be equally vigilant, insisting on a 60-year search and paying for an owner’s policy as well as the lender’s policy that the bank will demand.
Source: Washington Post, Harvey S. Jacobs (11/27/2010)
Charles Drew Community Center
3500 23rd Street S.
Arlington VA 22206
Contact Number: 703 228 5725
The Charles Drew Community Center is an opportunity for elementary, teen and adult aged residents where they can engage in recreational and fitness activities without having to stray away from the community of Arlington.
Facilities of the Charles Drew Community Center:
The Charles Drew Community Center also ensures a handful of schedule programs for the community center users to choose from:
Monday, Tuesday, Thursday and Friday: 3pm to 6pm
Wednesday: 1:30pm to 6pm
Monday to Friday: 3pm to 6pm
Teen and Adults Basketball and Game Room:
Monday to Friday: 6pm to 9pm
Tuesday: 6pm to 7pm
Wednesday for Beginners: 6:30pm to 7:30pm
Wednesday for Intermediate: 7:30pm to 8:30pm
The Charles Drew Community Center hours:
Monday, Tuesday, Thursday and Friday: 3pm to 9pm
Wednesday: 1:30pm to 9pm
The Arlington Mill Community Center and Senior Center offers a variety of educational and recreational activities suitable for both young and old while promoting social interaction within the community. While the community center is currently closed for extensive renovations till 2013, the Arlington Mill Community Center and Senior Center is working towards providing its community with better facilities and with a larger program of activities to engage more residents.
Facilities at the Arlington Mill Community Center and Senior Center:
3 Multi-purpose Rooms
2 Classrooms for Programs
Public Health Outreach Room
Educational Programs to be offered at the Arlington Mill Community Center and Senior Center:
• Computer Classes
• Language Classes
• Citizenship Classes
• Health Education
• Nutrition Education
• Parenting Classes
• Early Child Development
• Elementary after School
The renovated Arlington Mill Community Center and Senior Center will also be adding a plaza that will be used as an outdoor classroom or meeting room where community events can also be held such as art shows and farmers markets, pedestrian connections and a loading dock. The new 2 building community center is also expected to house 192 rental units upper floors, with 61 of them as affordable housing units on the at the back, retail stores and a 2 level underground parking for residents and center users.
Arlington Mill Community Center and Senior Center
4975 Columbia Pike
Arlington VA 22204
Contact Number: 703 228 7790
James K. Polk Elementary School is located at 5000 Polk Avenue in Alexandria, Virginia 22304. The phone number is Tel: 703-461-4180 / Fax: 703-751-8614. James K. Polk Elementary School was built in 1965. It is located on the west side of the city and is situated on a 13 acre campus. Its most recent renovation occurred in 1994 and included a new library, office, computer lab, wired classrooms and a secured main entrance. Polk has its own school constitution, Polk student pledge, and student designed school flag.