Joey Marino's (joeymarino) Blog

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Real Estate Agent - Whipple Auction & Realty, Inc.
RECENT BLOG POSTS
It's pretty evident that this flood of REO listings is not stopping anytime soon. With unemployment rising and the sheer magnitude of available inventory, we haven't even seen the begining.  Somehow these banks have to eliminate these properties from their books. They are in the business of lendi...
02/06/2009
Our office has been selling a great deal of properties at short sale since the market started turning, so we have many horror stories of working with loss mitigation departments. Many times the work and worry involved with the banks outweighed the compensation, but we always toughed it out and di...
01/19/2009
We've all heard the familiar reasons to own instead of rent. "Build equity", "invest in your future", "stop paying someone elses mortgage", "forced savings plan", etc. I have constructed a list of own-not-rent motives that you may not have thought about. 10 (different) reasons to own a home inste...
12/22/2008
When trying to avoid an imminent foreclosure, the borrowers should be aware of their options.  I have found that currently there are two options to eliminate the loan, short sale or deed in lieu of foreclosure.  The difference between the two really depends on the current market value of the home...
12/08/2008
I know I've been guilty of it, I pay too much attention to it. Heck, my last 3 blogs have been about it. It's all this negative blogging and news stories about the real estate market that has us running for the hills.  I actually don't look at it the same way many people are looking at it right n...
11/30/2008
As predicted, the interest rates dropped an unprecedented amount, and by a whole point on Friday,  as a result of the Fed agreeing to buy $600,000,000,000.00 of Mortgage-Backed securities and financial institutions deleveraging. However, this fantastic rate isn't what it used to be.  Lenders now ...
11/30/2008
The Federal Reserve has agreed to purchase housing related debts of Fannie, Freddie and Ginnie. More specifically $500 billion of Mortgate Backed Securities. They say, this will free up money for lending new mortgages and help drive down interest rates.  Once interest rates are decreased, more co...
11/25/2008
I may have come up with a possible solution (or cushion) for the falling prices in this housing market.  The source of inspiration for this idea was the best part: I was watching Conan O'brien the other night and Jim Cramer from Mad Money was a guest.  He jokingly made a comment on that show, and...
11/12/2008
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