Housing News from The Wizard of Waz

Real Estate Sales Representative - Wizards of Waz Real Estate
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This article, posted by DSNews, talks about the new guidelines that fall under the Servicing Alignment Initiative rolled out last fall and aim to bring greater transparency to the short sale process and expedite decisions related to these pre-foreclosure sales. Beginning on June 15, Realtors that...
This article fron CNN news talks about the wave of foreclosures that is expected to hit now that the litigation between the AGs and the major lenders has been settled. As I mnetioned in previous posts, there has been a large number of vacant homes in Maricopa Arizona that have been foreclosed on ...
This article from DSNews explains how Bank of America is chaning their Equator module with hopes to reach a decision on short sales in three weeks. Since I process a large number of short sales through Equator, I recently recived an email from them requiring a number of BofA  docs to accompany al...
This article, brought to you by Housing Wire, mentions that there was a 12% increase in short sales versus 2010 and that the amount was nearly double that of 2009. That being said, it also mnetions that delinquent loans have dropped to their lowest level in over three years. Without a doubt, thes...
Some Bank of America borrowers may be in for principal reductions in amounts exceeding $100,000, according to the latest developments in the settlement the bank and four other large servicers made with state and federal regulators. Of the five servicers participating in the settlement, BofA is se...
nventory of Maricopa Arizona subdivision homes for sale continues to spiral downward. It is very hard to predict where the “bottom line” number will be but I expected downward pressure for at least the next month or so until the seasonal buyers begin the exodus back home for the summer.This usual...
According to a number of sources including DSNews, Fannie Mae has put a block of 2,490 REOs up for sale. It’s the first pilot transaction of the federal government’s Real-Estate Owned (REO) Initiative announced in August 2011, which aims to sell homes repossessed by government agencies to private...
Just as I posted the previous blog, I received this article from DSNews. It underscores the confusion about where the housing market is heading by citing a number of factors that need to be considered before making any assertions that the market has truly "turned the corner" or not. Very interest...
Time magazine reports that there are a number of indicators that point towards a housing recovery in spite of the fact that many experts warn that we have not yet hit bottom. The indicators they mention seem to make some sense but I am still concerned about the number of foreclosures yet to be re...
The downward spiral of homes for sale in Maricopa Arizona continues as inventory of available homes is now at 181!! At some point very soon I would expect this number to “bottom out” but the impact from seasonal buyers may keep this from happening in the near future. Single level homes are partic...

Bill "Waz" Wasowicz

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