Home Buying Rules

What's good for a buyer in a real estate transaction:

1.If you made an appointment to see a property don't cancel it.
To prepare for a showing, a smart seller spends time clearing up clutter and making the home shine, then grabs the kids and/or pets and vacates for a few hours so buyers can tour in peace.
 Respect that.

2. Remember “house rules”: don't crank up the heat or air conditioning, or let your kids run wild, bounce on the furniture, and borrow toys. Sellers are allowed to set some ground rules ("no shoes" is a popular one), be respectful of that.

3. Never nitpick. Complaining about small issues, like carpet and paint colors, is not a good negotiating strategy, focus on the big-picture items, like location and light level instead. Sellers don't care why you're discounting the house. They're looking at that bottom-line number. Include a roll call of defects and the question becomes, "Why do you want this place?"

4. Requesting multiple “visits” before closing can compromize succesful sale. Buyers want to bring in decorators, architects, family, while the seller is getting repairs done, accommodating inspectors, packing and moving. Arranging to visit while the inspector is there will be the best solution.

5. Never try to renegotiate after striking a deal. There are buyers who agree on a price, only to repeatedly demand concessions and discounts. It's extremely awkward and insulting.

6. Don't rush the closing date. Even in the best of circumstances, it's hard to leave a home for good. The date should be comfortable for all parties.

For more good advise visit http://findneworleansproperties.gardnerrealtors.com/ 

This Home is Coming On The Market Soon

For more information visit http://findneworleansproperties.gardnerrealtors.com/

Budget When Buying a House

If you decide to buy a house, there are some important factors to consider. Budgeting is extremely important.  It’s not just how much money you make; it’s also what you plan to do with it.

Try to project what the next five years or so will be like for you and your family. Are you planning to have kids in the next few years? Is your teen graduating from high school? Will they need you to co-sign for a college loan? Are you planning for a wedding?

All these can raise your debt-to-income ratio. Even if you can afford a mortgage with a 40% debt-to-income ratio now, life events like having children can bring that ratio up to and over 50%.

Plan for the house you can afford today—not what you can afford a few years from now when the raise kicks in. Home ownership isn't as simple as paying the mortgage. You can be sure other expenses will pop up. Repairs, general maintenance, condo fees, utilities and buying new furniture for your new home also need to be anticipated.

The more thorough your budgeting, the more comfortable you’ll be when shopping for a home.

For more information visit http://findneworleansproperties.gardnerrealtors.com/

Does Your House Look Haunted?

Are you considering or trying to sell your home? If so, the last thing you want to do is spook buyers with a home that looks like a house out of a ghost town. Before putting your home on the market, rid your digs of these horrifying features.

Smashed windows. Unlike haunted houses, you probably don't have razor-like shards of glass protruding from the windows of your home. But are they drafty? Seal cracks, or consider replacing them altogether.

Neglected yard. Overgrown greenery (or brown-ery) is a sure sign of an abandoned abode.

Peeling paint. Dated wallpaper and worn-out paint are staples in haunted houses. Scrub your walls, patch any holes and roll on a fresh coat of paint in a ghostly neutral shade.

Foul odors. Your house (hopefully!) isn't home to anything decomposing, but remove trash and eliminate musty, stale air by opening the windows.

Creaky floors. Ghouls creep through haunted homes, making the floors creak and sending panicked visitors running out the door.

Cobwebs. Creepy-crawlers seem to love some homes, and pests are a serious turn-off for anyone. If you suspect a problem, call up the Orkin man to have it rectified immediately.

Gloomy rooms.  Avoid triggering childhood fears of the Boogeyman by lighting up dark walkways, dim rooms and shadowy corners.

For more good advise visit http://findneworleansproperties.gardnerrealtors.com/

Are Shoffices Coming Here?

Shoffices, or shed-office hybrids, are rapidly becoming a backyard fixture for homes In Great Brittan. A handful of London homeowners have already jumped on the bandwagon, combining a home office and storage shed with the help of some serious space-saving architecture.

Will Americans follow that direction? Maybe, or maybe not, but the idea is interesting.

1.       Working from home is much different than working in an office. Who really wants to work in their home? With a shoffice, you can physically separate yourself from your home life, eliminating all possibility that your mind will start wondering…

2.       Your backyard won’t look like a barren wasteland. If your backyard’s lacking in the landscaping department, a shoffice is the perfect way to enhance it.

3.       Your kids will love it. If you don’t need an office at home, construct a shoffice anyway and let your child’s imagination do the rest. What kid wouldn't love a cave/spaceship to play in?

4.       Your home’s value will go up. Creating usable living space where there was none typically has a positive impact on a home’s value. No matter the seller’s original purpose, an agent or stager can showcase a shoffice as a functional (albeit detached) part of any home.

F     For more information visit http://findneworleansproperties.com/

Neighborhood on the Upswing

It’s hardly surprising potential home buyers often overlook transitional properties in favor of prime real estate. Purchasing a home in a neighborhood on the upswing is likely to be more affordable and add value to your quality of life and bottom line over time. As you go house hunting, keep in mind these six signs of a neighborhood on the upswing to find a great deal:

1. Neat Neighbors
The signs should be immediately apparent—in the form of trimmed lawns, pruned bushes, unbroken fences, nice flowerbeds, well-kept yards, absence of litter on the sidewalk/streets and local committees responsible for the area’s upkeep.

2. Quiet Streets
Nothing wreaks havoc on a homeowner’s experience more than the noise of traffic, industry or a commercial thoroughfare. If you want to sleep well at night in your new home, make sure your potential residence is located far from major highways, railroad tracks and airports.

3. Proximity to Vital Services
The best real estate locations are neighborhoods that provide easy access to these vital services:
• Schools
• Doctors and hospitals
• Public transportation and major highways
• Grocery stores and shopping centers
• Entertainment and recreational facilities
• Safe outdoor parks and nature spots

4. Picture Perfect Views
The view has a major impact on a property’s appeal. Indeed, properties facing mountain views, greenbelts, water views and sweeping city views fetch up to 20 percent more in market value over second-rate views or no views at all. High views are worth more than low views, so if you own a penthouse, you could strike gold when you decide to sell.

5. Safe Stats
• Check local crime rates. Also peruse the area’s Megan’s Law website to see if sex offenders live in the area.
• Look for well-lit roads and sidewalks, as well as working streetlamps that deter crime.
• Walls covered in graffiti can indicate the presence of gangs or a low-income area.
• Private parking spaces in front of the home or in a private garage are safer than parking on the street or in a public garage.
• Safe homes in an upswing neighborhood feature high-end security systems, strong door locks with deadbolts, well-lit driveways and fenced-in gardens.

6. Tips from a Neighborhood Specialist
Real estate agents who have up-to-date, hands-on knowledge of a particular area can be a big help in identifying a good neighborhood. They can provide
• Current home market values
• Appreciation/depreciation trends in the area
• History of the home and of the neighborhood
• Neighborhood amenities
• Neighborhood detractors and hazards

Home prices will fluctuate in any market, but a house in a neighborhood on the upswing is more likely to have hidden value than one in an already-popular area. As the upswing neighborhood grows into something sought-after, your home will attract greater numbers of prospective home buyers when it comes time for resale.

For more information go to findneworleansproperties.com

10 Things to Avoid When Buying a Home

Here are 10 things to avoid while you’re buying a home:

1. Don’t change your job before applying for a home loan. Also, now is not the right time to become self-employed or to quit your job. You want to show lenders stability, which means you’ll be less likely to default on the loan.

2. Don’t change banks. As with your employment, you want your banking history to show stability.

3. Don’t buy a car that you have to finance. Buying a vehicle or any other form of transportation through a loan increases your debt-to-income ratio, and loan officers don’t want to see that.

4. Don’t buy furniture on credit before buying your house. Charging big-ticket items increases your debt-to-income ratio. Save your money for the down payment.

5. Don’t be late on your credit card payments or charge excessively. You need a track record of responsibility that shows you can manage your money.

6. Don’t make large deposits into your bank accounts. Lenders like it when the money for your down payment has been sitting in your account for at least two months – what they call ‘seasoning’ – so that the funds don’t just appear out of the ether.

7. Don’t lie on your loan application. Sounds simple, right? But don’t leave out any debts or liabilities or fudge your income. It’s fraud.

8. Don’t co-sign a loan for anyone. Even if you’re not making the payments on that loan, co-signing increases your debt-to-income ratio.

9. Don’t apply for new credit cards or prompt any other inquiries into your credit rating. Looking for new credit translates into higher risk for lenders. If your inquiries are related to your mortgage search, that usually doesn’t affect your credit score, because lenders assume that you’re rate-shopping. But opening credit accounts within a short period of time represents some risk, and your credit could take a hit. Inquiries are probably not a huge factor in calculating your ability to repay a loan, but why take a chance?

10. Don’t spend money you’ll need for closing costs. Part of the price of financing a loan is closing costs, and you’ll likely have some responsibility for paying them. Make sure you have enough for your share.

For more information visit http://findneworleansproperties.com/

Fun Date Ideas

IF YOU’RE FEELING FUN!

1. MARIGNY BRASSERIE

Located right at the corner of Royal Street and Frenchmen, Marigny is some nice digs without the stuffiness of a formal atmosphere. They have outdoor seating if you want to see all the people on Frenchmen street or listen to the music. There couches for relaxing, white tablecloths, glassware and there’s always a great band playing. The food is a little pricier but definitely a great date spot. And afterwards, you can walk through the Frenchmen spots and get your dance on!

2.FULTON ALLEY

Considered “boutique bowling” Fulton Alley is where you can have a some good old fashion fun but still feel classy about it. With lovely chandeliers, a fully stocked bar, plus craft beers and yummy food, any date here would be fun. After you let the other win, you can stroll through the Alley or head to the Quarter, the night is yours!

3. OGDEN AFTER HOURS

I actually just found out about this recently and I’m so bummed that I didn’t know sooner. At the Ogden Museum of Southern Art, every Thursday evening from 6-8, there is free live music inside the museum for only $10! That’s so wonderful. You can enjoy the beautiful art and music before heading to dinner or just as a first date, this one will impress your more intellectual dates.

4. THE JEAN LAFITTE NATURE WALK

Sick of the usual bar and restaurant scene? Try a nature walk! You can go through the City Park nature trail or you could go through the Jean Lafitte National Historical Park and Preserve. They have amazing trails, hiking, canoeing, and tours. Bring a nice picnic and enjoy the beautiful scenery. Go at dusk and you see the fireflies lighting up the night air. Two warnings: bring bug spray and be sure to tell your date to dress appropriately.

For more ideas visit http://findneworleansproperties.com/

That's Living in NOLA!

Open This Link:
http://www.thrillist.com/entertainment/new-orleans/the-25-new-orleans-commandments

 
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This is What Buyers Want in a Home

Home builders across the United States are most likely to focus on “convenience, livability and energy efficiency” when constructing a typical single-family home today, according to a recent survey by the National Association of Home Builders.

Beyond those big three features, plenty of other “practical and functional” amenities were cited by the builders in the survey as key selling points, so I found examples of some of them.

For more ideas visit http://findneworleansproperties.com/

Ways to Create a Welcoming Front Entrance for Under $100

First impressions count — not just for your friends, relatives, and the UPS guy, but for yourself. Whether it’s on an urban stoop or a Victorian front porch, your front door and the area leading up to it should extend a warm welcome to all comers — and needn’t cost a bundle.

Here’s what you can do to make welcoming happen on the cheap.

1.    Clear the way for curb appeal. The path to your front door should be at least 3 feet wide so people can walk shoulder-to-shoulder, with an unobstructed view and no stumbling hazards. So get out those loppers and cut back any overhanging branches or encroaching shrubs. 

2. Light the route. Landscape lighting makes it easy to get around at night. Solar-powered LED lights you can just stick in the ground, requiring no wiring, are suprisingly inexpensive. 

3. Go glossy. Borrow inspiration from London’s lovely row houses, whose owners assert their individuality by painting their doors in high-gloss colors. The reflective sheen of a royal blue, deep green, crimson, or whatever color you like will ensure your house stands out from the pack.

4. Pretty up the view. A door with lots of glass is a plus for letting light into the front hall -- but if you also want privacy and a bit of decor, check out decorative window film. It’s removable and re-positionable, and comes in innumerable styles and motifs.

A way to get the look of stained glass without doing custom work or buying a whole new door: Mount a decorative panel on the inside of the door behind an existing glass insert, $92 for an Arts and Crafts-style panel 20-inches-high by 11-inches-wide.

5. Replace door hardware. While you’re at it, polish up the handle on the big front door. Or better yet, replace it with a shiny new brass lockset with a secure deadbolt.

6. Please knock. Doorbells may be the norm, but a hefty knocker is a classic that will never run out of battery life, and another opportunity to express yourself (whatever your favorite animal or insect is, there’s a door-knocker in its image). 

7. Ever-greenery. Boxwoods are always tidy-looking, the definition of easy upkeep. A pair on either side of the door is traditional, but a singleton is good, too. About $25 at garden centers.

8. Numbers game. Is your house number clearly visible? That’s of prime importance if you want your guests to arrive and your pizza to be hot. 

9. Foot traffic. A hardworking mat for wiping muddy feet is a must.

10. Go for the glow. Fumbling for keys in the dark isn’t fun. Consider doubling up on porch lights with a pair of lanterns, one on each side of the door, for symmetry and twice the illumination. Many mounted lights are available well under $100.

11. Snail mail. Mailboxes run the gamut from kitschy roadside novelties masquerading as dogs, fish, or what-have-you to sober black lockboxes mounted alongside the front door.

For more ideas visit http://findneworleansproperties.com/

SHOULD YOU RENT OR BUY YOUR NEXT HOME?

Privacy, proximity to family and friends, ambiance, environment and a sense of community all contribute to the emotional side. Tax breaks, transportation, amenities, and the opportunity to build equity are also factors. But the number one reason people buy homes is the desire to own a home, with the desire for more space a close second.

For most households, renting is less of a financial stretch than buying a home. Even in the best of times, homeowners must come up with a substantial amount of cash to cover the downpayment and closing costs, as well as be prepared for upcoming repairs and maintenance. While renters typically have to pay a security deposit plus the last month's rent, the total outlay is usually more modest than the upfront costs of buying. Equally important, renters who want to move do not incur the steep costs associated with selling a home.

Renting also brings greater certainty to household budgeting because tenants do not have to cover the costs of unexpected but necessary home repairs. Owning a home, however, requires money, time, and skill to manage its upkeep. Renting transfers responsibility for maintenance to a landlord, reducing risk and worry for those who prefer to avoid these obligations.

Beginning in 2009, the edge began to move to homeownership. Due to still-low home prices and rising rents, The Center for Housing Policy predicted that home buyers who purchase can build equity within four years, about the same length of time it takes to recoup closing costs. The reason building equity is important is that you can take money out of the home when you leave, which is not possible for renters.

One of the disadvantages of renting is that rents can go up. If you get a fixed-rate mortgage, your costs will stay the same, although hazard insurance and property taxes can rise. However, rental insurance can rise, too.

Renting is a convenience and a great hedge when property prices are spiraling downward, but for long-term gain, tax benefits and equity is a better bet.

To search for homes for sale go to http://findneworleansproperties.com/

Privacy, proximity to family and friends, ambiance, environment and a sense of community all contribute to the emotional side. Tax breaks, transportation, amenities, and the opportunity to build equity are also factors. But the number one reason people buy homes is the desire to own a home, with the desire for more space a close second.

For most households, renting is less of a financial stretch than buying a home. Even in the best of times, homeowners must come up with a substantial amount of cash to cover the downpayment and closing costs, as well as be prepared for upcoming repairs and maintenance. While renters typically have to pay a security deposit plus the last month's rent, the total outlay is usually more modest than the upfront costs of buying. Equally important, renters who want to move do not incur the steep costs associated with selling a home.

Renting also brings greater certainty to household budgeting because tenants do not have to cover the costs of unexpected but necessary home repairs. Owning a home, however, requires money, time, and skill to manage its upkeep. Renting transfers responsibility for maintenance to a landlord, reducing risk and worry for those who prefer to avoid these obligations.

Beginning in 2009, the edge began to move to homeownership. Due to still-low home prices and rising rents, The Center for Housing Policy predicted that home buyers who purchase can build equity within four years, about the same length of time it takes 

Add Some Bling To Your Spaces

Grays have been catching on in more interiors this year and so has the color’s “flashier cousin” – silver, which is becoming a popular accent color in 2014. Silver is adding some sparkle to rooms, through shimmering fabrics and reflective glassware to even kitchen backsplashes and furniture.

Silver can be an attention-getting touch to liven up a space’s interior.

Metal tiles gained popularity in the past decade or so with the explosion of stainless steel kitchen appliances, and stainless steel tiles were [and still are] great harmonizers. However, they’ve also made their way out of the kitchen – and all that glitters isn’t always stainless steel. Tiles are available in different metals, including bronze, copper, and titanium, as well as different surfaces, such as brushed, polished, and textured.

Metallic finishes are everywhere from metal-toned lamp shades to the detailing in fabrics and throw pillows. Brass is also making a comeback in the metal arena. But you might want to still hold off on swapping out all those light fixtures for brass and keep the trend reserved to accessories, for now. The trend is evident, though, as more accessories take on a vintage gold look, such as in mirror frames to gold curtain rods.

Some gold and silver touches may just be the modern touch to bring a room more up-to-date.

For more ideas go to http://findneworleansproperties.com/ 

MAKE YOUR HOME MOVE-IN READY!

The moment you even begin to think of putting your home up for sale is the time to start thinking like a buyer. Why? Because thinking like a buyer will help you make your home move-in ready for just the right buyer. The less they think about what  they have to change, the shorter the distance will be between the viewing, their offer, and the day you say, “Sold.”

1.      Host a pre-listing party. Invite a few trusted friends over for an inventory. Make some cocktails and go from room to room in your home asking what they would either change if they were to buy your house, or see as a red flag if they were a potential buyer. This can help you create a solid list of potential improvements to discuss with your Realtor before you list.

2.      Consult with a great agent. Now that you have your friends’ opinions, run them by an expert.  See which problems you should address before listing and which fixes won’t be of financial benefit. 

3.      De-clutter. Closets get full. Extra pieces of furniture get crammed into corners. Bookshelves overflow with odds and ends. Help the potential buyers see your actual home and not the stuff in your home by moving out the extras. Try renting a portable storage unit that can be delivered to your home. This way, you can box up extras, and they’ll be ready to be delivered to your next dream home. In the meantime, you’ll be making room for someone else’s dreams.

4.      Clean out the garage. The future owners of your home want to know that their cars can fit into the garage.

5.      Think neutral. It’s hard for potential buyers to see themselves in a home that has you written all over it.  Since your home is soon to not be your home anymore, consider taking any brightly or bold-colored walls back to neutral. A simple beige satin wall paint with a semi-gloss white or off-white pain trim can do wonders for giving potential buyers the “blank canvas” feeling. You want future owners to be dreaming of picking out paint — not how to get rid of not-right-for-them color decisions.

6.      Grout, tile, and natural stone restoration. Have your bathrooms and kitchen counters lost their luster? You might want to look into having them refreshed (and it’s much less expensive than having them redone).  For not a lot of money, you can kick up the shine on your tiling and counters and get that long-neglected grout back to clean.

7.      Make those hardwood floors spiffy. Wash all surfaces with a simple mild, soapy water first (avoid Murphy’s Oil Soap — it leaves a residue). Next, use a hardwood floor polish like Bona or a product like Rejuvenate to bring the beauty back — and all for under $40-$50 for the average sized home. Be sure to use the cleaners recommended by each product to prevent buildup and to keep the shine going through your whole listing. There’s nothing that can kill a deal like your perfect buyer thinking that they have to refinish a few thousand square feet of hardwood. Help them see hope, not hardwood-related dollar signs.

 For more information visit http://findneworleansproperties.com/

Closing Costs: What You Should Expect‏

When it’s time to sign on the dotted line, do you know what costs to expect?

Closing costs are a major part of buying a home. Depending on the cost of the home, they can really add up, too. Typically, a home buyer can expect to pay between 2-5% of the purchase price of a home on closing costs. That’s not an insignificant sum.

What are the closing costs? They are fees related to the purchase of your new home. These are things over and above the amount you’re borrowing for your mortgage and any associated interest charges. In addition to your down payment, there are monies due to your lender and other parties–and it’s important to note that most of these are the responsibility of the buyer (there are some exceptions, like in the case of VA and other such loans).

What You Can Expect To Pay In Closing Costs

·         A fee for running your credit report–this fee is minimal and usually paid at the time the report is run.

·         A loan origination fee, which lenders charge for processing the loan paperwork for you.

·         Attorney’s fees.      

·         Discount points, where applicable, which are fees you pay in exchange for a lower interest rate (be sure to check with your lender).

·         Appraisal fee (charged by your lender).

·         Survey fee, which covers the cost of verifying property lines.

·         Title insurance, which protects the lender (and you!) in case the title isn’t clean.

·         Title search fees, which pay for a background check on the title to make sure there aren’t things such as unpaid mortgages or tax liens or any other such holds on the property.

·         Escrow deposit or earnest money, which may pay for a couple months’ property taxes and private mortgage insurance.

·         Title recording fee, which is paid to a city or county in exchange for recording the new land records.

·         Underwriting fee, which covers the cost of evaluating a mortgage loan application.

We mentioned that closing costs average between 2-5% of the purchase price of your new house. So, if your home cost $150,000, you can expect pay between $3,000 and $7,500 in closing costs. These costs can’t be rolled into your loan, so you should make sure that you have that cash reserved.

Your lender will give you a good faith estimate of what you can expect at closing, but this isn’t an exact figure. Within a day of your closing, you will receive a form HUD-1, which will go over, in detail, all of your closing costs.

Remember: these costs aren’t always set in stone and if they’re too far removed from what you’ve been led to expect, you can always walk away.  As with all matters related to purchasing a home, be educated. The last thing you want is to be taken by surprise.

Have Questions? Need Help? Visit http://findneworleansproperties.com/

SELLER OPTIMISM GROWS

As prices continue to rise, more sellers are putting their homes on the market than this time last year. This movement is a sign of confidence in the gains sustained through the winter and an indication of a strong early beginning to the spring home buying season. Data from realtor.com® reveals the number of properties for sale in February rose 10.1 percent above February 2013 levels. The median list price at $199,000 increased 7.6 percent compared to the same month last year.

Overall these figures indicate a continued reinforcement of steady gains and market stabilization that we’ve been watching since late last summer.  This is the market these sellers have been waiting for.

Many have speculated that as homeowners gained equity across 2013, sellers otherwise prevented from making ‘life event’ associated housing changes, for various reasons such as births, children entering school, aging home owners downsizing to smaller residences and others, now are finally able to tap into the resources necessary to make those changes. The increase in inventory is even more noteworthy given the severe climate conditions that likely dampened a more typical month of listing activity across much of the nation.

If you are planning to sell or buy real estate visit http://findneworleansproperties.com/

Location of Sex Offenders, Drug Labs and Toxic Dumps on Listing Pages

In a bid to bring transparency in online real estate search to new heights, RealtyTrac has baked a batch of data on unpalatable neighborhood characteristics into its listing detail pages.

The information — which could be construed as a massive collection of red flags — includes the location and details of environmental hazards such as underground spills, polluters and hazardous waste sites, as well as former drug labs, sex offenders and building permit activity.

RealtyTrac evens the playing field between heart and mind by helping consumers see behind the air-brushed perfection of typical real estate information.

RealtyTrac obtains most of its inventory through listing syndicator ListHub rather than IDX feeds. But in a growing number of markets where broker members of the RealtyTrac Network supply the site with IDX feeds, listings represented by all brokers participating in IDX — not just RealtyTrac’s partners — are accompanied by information on nearby criminal and sex offenders, environmental hazards, and other information that could rattle listing brokers and their seller clients.

RealtyTrac is importing the new neighborhood data from the Homefacts.com, which it acquired in 2012. Like Homefacts.com, RealtyTrac’s local information, including the information it’s just added, appears in “tiles” that paint a picture of a listing’s surroundings.

For more information visit http://findneworleansproperties.com/

THE FUTURE OF SHORT SALES

Short sales and foreclosures played a starring role during the Great Recession. According to National Association of REALTORS® statistics, in the summer of 2009, distressed sales made up just under 50 percent of all transactions as. Fast forward to last fall, and that number dropped to only 14 percent.

Short sales are becoming less common for many reasons. For one, many markets are now well into recovery mode. Home values are rising and sellers who were underwater only a year ago have a bit more breathing room today. With fewer homeowners in financial distress—and the worst of the cleanup from the housing bubble behind us—banks and courts are finally processing through their backlogs of distressed properties. And employment growth means more homeowners can afford to stay in their homes and make their mortgage payments.

In addition, short sales are becoming less favorable for sellers. For the last few years, the Mortgage Forgiveness Debt Relief Act of 2007, which protects sellers from having to pay tax on unpaid or forgiven debt, has made short sales a viable option for many underwater homeowners. However, the Act was sunset at the end of 2013. A short sale in 2014 could significantly impact your tax obligation, making it less attractive.

Buyer interest in distressed properties has also cooled. Too much hassle, and most short sales and foreclosures are not such a great deal after all. Finally, lenders themselves are also less interested in short sales. As market values increase, there is less need for lender/borrower negotiated sales. Added to that, the return of third-party purchasers (institutional investors or cash buyers purchasing at foreclosure auctions) is shifting the pendulum back toward traditional foreclosure auction and REO.

FOR MORE INFORMATION VISIT http://findneworleansproperties.com/