Last week, the Texas Attorney General Greg Abbott gave 30 mortgage banking and servicing institutions until this Friday (Oct. 15) to respond to a request for information about their foreclosure processes.
A letter was issued by Abbott’s office on Oct. 5 causing concern in the real estate industry when it called for the banks to “suspend all foreclosures, all sales of properties previously foreclosed upon, and all evictions of persons residing in previously foreclosed upon properties.” In addition, the attorney general’s office asked the lenders to take eight steps to correct possible past mistakes in mortgage documentation practices.
Keller Williams Realty Northeast General Manager Michael Clapp will soon be dancing with the stars. Clapp has signed on to participate in the The Lake Houston Family YMCA Second Annual Dancing for Partners fundraising event on Thurs., April 22 at the Humble Civic Center at 7 p.m.
The “friendly competition” will feature 14 community leaders paired with local dance instructors. Each pair will perform a short dance routine to win votes from the audience. An admission ticket is good for one vote for your favorite performer. The dance couple who raises the most funds that evening will be awarded the winning trophy.
Keller Williams Realty Northeast (KWNE) management and agents returned to the office last week after attending the Family Reunion in New Orleans from Feb. 20-24. The annual Keller Williams national convention is a chance for the company’s associates to renew, energize and celebrate accomplishments from the past year.
Senior Team Leader Lisa Dempsey had the chance to meet the renowned real estate visionary Stefan Swanepoel, who was a featured presenter at Family Reunion. Since 1987, Swanepoel has been an independent researcher for National Real Estate Data. He is best known in the industry for the annual Swanepoel Trends Report. He has written several books, including his newest: Social Media Report 2010.
If you are looking to buy a home for the first time, there is no better time to buy than right now. First time home buyers can qualify for an $8,000 Federal Housing Tax Credit if they purchase a home by 4/30/2010 and close the sale by 6/30/2010 . Move-up buyers, who purchase a new home and sell their previous home during that same time period, can receive a $6,500 tax credit with qualifying income levels and years of homeownership.
On top of the tax incentive, interest rates are at a near a record low making home purchases even more attractive. Rates currently hover around the high four percent range: conventional and Federal Housing Administration mortgage rates are at 4.875% with VA being slightly higher at 5%, according to Mike Proctor of Genesis Mortgage Company in Kingwood.