The HAFA program is big news now. It stands for Home Affordable Foreclosure Avoidance. Distressed Properties and foreclosures have been in the news for quite a while now. This program streamlines the short sale and Deed in Lieu process.
HAFA can give the homeowners up to $3,000 in relocation assistance. The servicer (read bank) will receive $1,500 to comply with this government program. Before, we were concerned with the bank going after the balance owed after the homeowner gave up their home. HAFA ensures that this will not happen.
We have been helping distressed homeowners in Louisville, KY and keep current with our CDPE designation and breaking news.
There is a short video on YouTube that explains what HAFA means.
There is also a very informative website at http://www.cdpe.com/hafa that goes into detail about all aspects of HAFA including even more links from major lenders.
Feel free to contact us with any questions....
I held 45 Harwood Road which is in Louisville, KY open yesterday. This was a 57 year old house in the Glenview Manor subdivision just east of the Watterson Expressway. This house was a 3000 square foot ranch that was well maintained.
Even though the weather was not the best, the traffic was great with 20 couples coming through.
There was no talk of the tax credit that ends this week. These were people that were thinking of moving up (in one case downsizing). It makes me feel positive on the direction of the real estate market.
This home is not currently listed. Contact the Hollinden Team about this home’s history and other houses in the area.
I passed my Indiana State Real Estate Exam this morning. This is the last step in being dual licensed in Kentucky and Indiana.
I am looking forward to increased business.
We have been seeing weekly increases for quite a while with our weekly reports. You can also get a gut feeling from how busy we have been and how busy the office is.
March figures from the Greater Louisville MLS are out. This March we had 992 sales versus 808 last year; a 23% increase. We have seen continuous monthly increases over the previous year since July 2009.
In the first 3 months of 2010, we sold 2339 properties versus 1967 a year ago, a 19% increase. Average and median prices are also up over last year. Houses in all price ranges are up over the same period a year ago.
Listings on the Louisville MLS continue their increase over a year ago with 708 properties listed last week versus 606 listed on the Louisville MLS last year for the same time period.
Sold houses increased over last year as well. There were 269 sales in a one week period versus 198 in the same time last year. This is about a 35% increase and consistent with what we have been seeing the last few months.
We were concerned about sales after April 30th. I am starting to get inquiries about listing their house in 2-3 months, so maybe we can keep things moving this summer!...