Coldwell Banker Country Estates

WE’RE HAVING A SALE, AND IT’S ALMOST OVER!
I think that we are rapidly approaching the bottom of the real estate recession, if we’re not already there. There are still a lot of foreclosures to come but the overall market seems to be turning around. Sales are increasing and the inventory is slowly declining. Most of the new homes inventory have been sold and this will help the re-sale market since home buyers will no longer have the option to buy new homes. If new home builders are slow to get back into production we could actually see a shortage of homes for sale. The number of newly built single-family homes on the market declined in April to their lowest level since May 2001. For real estate for sale in Wyoming, we are seeing a better year so far than we had anticipated. Real estate in Star Valley is alive a strong.
 
 
THE GOOD NEWS, AND IT’S ALL GOOD
Most of what we hear and read from the press is made to sell their products and keep them in business. What we don’t hear most of the time is the other half, the good news. So, I thought I would give you some of the good stuff.  I recently heard a speech that warms the heart about our economy and our state of the Union. What was said was that 93.8% of all homes that have a loan on them are current on their payments. Star Valley real estate has been sticking fairly close to these statistics.

Here are some really good statistics (approximate):
1)      There are approximately 76 million homes in the United States
2)      52 million of these have a loan on them
3)      11 of the 52 million with loans are under water (more is owed on the properties than their value). However, of the 6.2% of the 11 million that are in foreclosure 40% of these are rentals, vacation homes and second homes and not the owner’s primary residence.
4)      24 million homes have no loan on them. That’s one-third of all of the homes in the U.S. that are free and clear.
 
Also, interesting and positive is that there is approximately 11.7 Trillion cash held by us in savings, CDs, Money Market Accounts and Treasury Bills in the United States. And, this amount is greater than or equal to the total amount of our homeowner’s total debt. So, over all, we have as much or more cash as we do debt. That’s a very nice position to be in.
 
FIRST-TIME HOME BUYER TAX CREDIT IS AVAILABLE
The Federal Housing Administration (FHA) will now allow home buyers to apply the administration’s new $8,000 first-time home buyer tax credit toward the purchase costs of a FHA-insured home. The American Recovery and Reinvestment Act of 2009 offers home buyers a tax credit of up to $8,000 for purchasing their first home.
Since first-time buyers must finalize their purchase by November 30 to get the credit, we expect greater activity in the months ahead, and that should spark more sales by repeat buyers.” We have had several buyers use this on real estate for sale in Wyoming. It sure has helped our first timers in buying a home.
 
PENDING HOME SALES INCREASE NATIONALLY FOR 3rd CONSECUTIVE MONTH
Record low mortgage interest rates boosted pending home sales for the third consecutive month, with some benefit now from the first-time buyer tax credit, according to a recent report from National Association of Realtors.

We believe that real estate for sale in Wyoming is a wonderful investment in our future. There are great interest rates, wonderful inventory of properties, and motivated sellers, what a great time to invest in the future!

“Val D. Pendleton is the premier real estate broker in Star Valley Wyoming. Val’s family has a deep and respected heritage going back several generations in the Star Valley area. Specializing in Thayne, Afton, Bedford, Alpine and surrounding communities please visit the Coldwell Banker Country Estates website at  http://www.cbcountry.comfor a complete list of inventory offered by Coldwell Banker Country Estates or email us at val@cbcountry.com If we can assist you in any way, feel free to contact us directly 307-883-7000″

June 13, 2009-According to the National Association of Realtors, between 40% and 45% of homes sold in the month of February were distressed properties-foreclosures, short sales and bank-owned properties (otherwise known as REOs). Luckily Wyoming real estate doesn’t compare to these statistics. In some of the areas hardest hit by the foreclosure tsunami, the percentages are much higher. Agents in the central valley of California report that the overwhelming majority of sales-in some cases, as much as 80%-are distressed properties, and mostly REOs. So if you’re not working with distressed properties, you’re going to be at a tremendous competitive disadvantage.

And more REOs are coming to market. The first quarter of 2009 set a new record for foreclosure activity, with over 803,000 U.S. households receiving a foreclosure notice. Current estimates call for over 3.1 million households in some stage of foreclosure this year, with up to half of these ultimately going back to the banks. Wyoming real estate is still holding strong. If considering purchasing a REO consult a realtor for proper steps.

Not surprisingly, there’s a growing interest in securing REO listings from the lenders and loan servicers among brokers, Realtors and agents. The recent REOMAC conference in Palm Desert, California, drew over 3,800 attendees, mostly agents looking for an entree into the REO business. But before you throw your hat in the ring, there are a few things you should consider about what it takes to be a successful REO agent.

Star Valley real estate is still very strong, our sellers are motivated and our inventory is large, Star Valley is a real estate pool of every type of real estate you could be looking for.

 ”Val D. Pendleton is the premier real estate broker in Star Valley Wyoming. Val’s family has a deep and respected heritage going back several generations in the Star Valley area. Specializing in Thayne, Afton, Bedford, Alpine and surrounding communities please visit the Coldwell Banker Country Estates website at  http://www.cbcountry.comfor a complete list of inventory offered by Coldwell Banker Country Estates or email us at val@cbcountry.com If we can assist you in any way, feel free to contact us directly 307-883-7000″

http://rismedia.com/2009-06-13/so-you-want-to-be-an-reo-agent/#ixzz0IVap6GEO&D

If you are thinking of buying a home, this may be your first step. As professionals in real estate in wyoming, we stongly suggest taking a look at your credit before you begin your search for real estate in wyoming.

Over 70% of consumers identify errors on their credit report. Twenty-five percent of those are serious enough to deny consumers and business owners access to credit, preferred interest rates or even a job. With over 54 billion credit updates occurring each year, it’s very likely you-or your clients-may have errors that are negatively impacting the ability to get credit and/or causing you to pay unnecessary interest expenses. As your realtor we advise knowing your report inside and out.

Identifying a credit report error is only the first step. Most consumers don’t know they have an error on their report because they rarely, if ever, review it until they need to get a loan. By the time this occurs, a consumer typically has less than 45 days before they need their loan funded, and their ability to get a single, valid error corrected within this timeframe is marginal at best. This is why if you are looking for real estate in wyoming you will be on the fast track if you have already taken care of errors on your report.

The need to proactively understand, evaluate and optimize your credit profile has never been greater. So what should a consumer do? Become educated and informed about how credit works. Our clients should continually review and evaluate their credit profile. When a questionable activity is identified, he/she should make sure they understand it and correct any valid errors. In most cases, consumers begin by filing a dispute with the applicable credit agency who is reporting the information.

Taking these measures will allow us a your realtor to make the transition from shopper to owner of real estate in Star Valley as smooth and painless as possible.

“Val D. Pendleton is the premier real estate broker in Star Valley Wyoming. Val’s family has a deep and respected heritage going back several generations in the Star Valley area. Specializing in Thayne, Afton, Bedford, Alpine and surrounding communities please visit the Coldwell Banker Country Estates website at  http://www.cbcountry.comfor a complete list of inventory offered by Coldwell Banker Country Estates or email us at val@cbcountry.com If we can assist you in any way, feel free to contact us directly 307-883-7000″

A little over 20 years ago, box office star Harrison Ford decided to leave L.A. for an 800-acre ranch in Jackson Hole, Wyoming, about 50 miles from Star Valley Wyoming.  On-screen, Ford has saved the galaxy as Hans Solo and gone on action-filled treasure hunts as Indiana Jones, but his life on his Wyoming real estate is more subdued.

An article on LandReport.com talks about Ford’s farm chores on his Wyoming real estate.  “I need to be in a situation where my every whim is not attended to, where I have to fetch my own nails, do my own shopping, and wash my own dishes. “Being normal is a kind of victory,” Ford said.  “I’ll fix a fence, repair a piece of equipment, or plough the driveway if there’s snow. There’s always plenty of work to do.” Ford was active in planning his Wyoming ranch real estate from the beginning. While on set in France he faxed back drawings of what he wanted his house to look like.  Shortly after buying the Wyoming real estate, Ford also started granting conservation easements along his property. In case things get too slow for Ford on theWyoming ranch, he has also worked as a Teton County sheriff’s deputy and has used his planes and helicopters to help in mountain rescue missions, according to LandReport.com.

Real Estate in Star Valley is very desierable for outdoor enthusiasts, as well as people wanting to just get away to their own piece of heaven in Wyoming real estate.

 ”Val D. Pendleton is the premier real estate broker in Star Valley Wyoming. Val’s family has a deep and respected heritage going back several generations in the Star Valley area. Specializing in Thayne, Afton, Bedford, Alpine and surrounding communities please visit the Coldwell Banker Country Estates website at  http://www.cbcountry.comfor a complete list of inventory offered by Coldwell Banker Country Estates or email us at val@cbcountry.com If we can assist you in any way, feel free to contact us directly 307-883-7000″