tag:blogger.com,1999:blog-51179448134590102402024-02-20T14:43:03.239-05:00John TalleyJohn Talleyhttp://www.blogger.com/profile/02942511383000185882noreply@blogger.comBlogger38125tag:blogger.com,1999:blog-5117944813459010240.post-10523014487720400042012-12-06T10:37:00.000-05:002012-12-06T10:37:10.606-05:00<span style="background-color: white; color: #333333; font-family: 'lucida grande', tahoma, verdana, arial, sans-serif; font-size: 13px; line-height: 17px;">I wrote about this on my blog some time ago. MERS, in my limited understanding of the law, seems like a travesty of justice to me. And yet it is being upheld in the courts. I don't get it. Open the link to the Housing Wire to read about a recent case.</span><br />
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http://www.housingwire.com/news/bain-case-not-slam-dunk-expected-foreclosure-plaintiffsJohn Talleyhttp://www.blogger.com/profile/02942511383000185882noreply@blogger.com0tag:blogger.com,1999:blog-5117944813459010240.post-87314806548264394122012-11-20T10:19:00.001-05:002012-11-20T10:19:56.124-05:00Shadow Inventory Shrinking…in Most Regions<span style="background-color: white; color: #333333; font-family: 'lucida grande', tahoma, verdana, arial, sans-serif; font-size: 12.800000190734863px; line-height: 18px;">Mortgage Bankers Association 3rd Quarter Delinquency Survey:</span><br />
<a href="http://www.kcmblog.com/2012/11/20/shadow-inventory-shrinkingin-most-regions/">Shadow Inventory Shrinking…in Most Regions</a>John Talleyhttp://www.blogger.com/profile/02942511383000185882noreply@blogger.com0tag:blogger.com,1999:blog-5117944813459010240.post-83085520118766698462012-10-17T09:34:00.001-04:002012-10-17T09:34:47.665-04:00Housing: The Reasons It Is Coming BackGood read on the housing recovery from the KCM Blog-- <a href="http://www.kcmblog.com/2012/10/17/housing-the-reasons-it-is-coming-back/">Housing: The Reasons It Is Coming Back</a>John Talleyhttp://www.blogger.com/profile/02942511383000185882noreply@blogger.com0tag:blogger.com,1999:blog-5117944813459010240.post-34986922842413081372012-09-12T15:37:00.001-04:002012-09-12T15:37:40.253-04:00400 SHAI CIR - NEWARK_DE_19701<a href="http://tour.circlepix.com/1286866">400 SHAI CIR - NEWARK_DE_19701</a><br />
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Here's a beautiful townhome with incredible new hardwood flooring next to a delightful park!John Talleyhttp://www.blogger.com/profile/02942511383000185882noreply@blogger.com0tag:blogger.com,1999:blog-5117944813459010240.post-10356358385780000282012-09-12T15:13:00.001-04:002012-09-12T15:13:22.432-04:00500 GIBBEN RD - HOCKESSIN_DE_19707<a href="http://tour.circlepix.com/1298509">500 GIBBEN RD - HOCKESSIN_DE_19707</a><br />
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This is a really nice home in Hickory Hills - the best value in Hockessin!John Talleyhttp://www.blogger.com/profile/02942511383000185882noreply@blogger.com0tag:blogger.com,1999:blog-5117944813459010240.post-53178300380580494292012-08-21T11:22:00.001-04:002012-08-21T11:22:27.536-04:00Housing Update from Ashley Garner<a href="http://www.kcmblog.com/2012/08/21/housing-update-from-ashley-garner/">Housing Update from Ashley Garner</a><br />
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Housing update from one of my favorite online resources - The KCM Blog.John Talleyhttp://www.blogger.com/profile/02942511383000185882noreply@blogger.com0tag:blogger.com,1999:blog-5117944813459010240.post-14004792249493478932012-08-20T09:22:00.001-04:002012-08-20T09:22:17.287-04:00House Prices: An Important Update<a href="http://www.kcmblog.com/2012/08/20/house-prices-an-important-update/">House Prices: An Important Update</a><br />
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If you've ignored everything I've posted about real estate trends over the past year DO NOT IGNORE this post from the KCM Blog!John Talleyhttp://www.blogger.com/profile/02942511383000185882noreply@blogger.com0tag:blogger.com,1999:blog-5117944813459010240.post-13222893831092482012-07-26T14:10:00.001-04:002012-07-26T14:10:13.477-04:00Short Sales vs Foreclosures: the PricesThe nest article in the series from the KCM Blog <a href="http://www.kcmblog.com/2012/07/26/short-sales-vs-foreclosures-the-prices/">Short Sales vs Foreclosures: the Prices</a>John Talleyhttp://www.blogger.com/profile/02942511383000185882noreply@blogger.com0tag:blogger.com,1999:blog-5117944813459010240.post-19633416607833271352012-07-25T17:01:00.001-04:002012-07-25T17:01:12.457-04:00Short Sales vs Foreclosures: the BanksArticle 3 in this excellent series about <a href="http://www.kcmblog.com/2012/07/25/short-sales-vs-foreclosures-the-banks/">Short Sales vs Foreclosures: the Banks</a> from the KCM Blog.John Talleyhttp://www.blogger.com/profile/02942511383000185882noreply@blogger.com0tag:blogger.com,1999:blog-5117944813459010240.post-32330992770140409462012-07-24T11:36:00.001-04:002012-07-24T11:36:06.162-04:00Short Sales vs Foreclosures: the NeighborhoodHere's the second in this series from the KCM Blog - <a href="http://www.kcmblog.com/2012/07/24/short-sales-vs-foreclosures-the-neighborhood/">Short Sales vs Foreclosures: the Neighborhood</a>John Talleyhttp://www.blogger.com/profile/02942511383000185882noreply@blogger.com0tag:blogger.com,1999:blog-5117944813459010240.post-22958149064639785662012-07-23T09:21:00.001-04:002012-07-23T09:21:49.240-04:00Short Sales vs Foreclosures: the SellerHere is the first installment of a concise read on the advantages of a <a href="http://www.kcmblog.com/2012/07/23/short-sales-vs-foreclosures-the-seller/">Short Sales vs Foreclosures: the Seller</a>John Talleyhttp://www.blogger.com/profile/02942511383000185882noreply@blogger.com0tag:blogger.com,1999:blog-5117944813459010240.post-1642519497905055722012-06-29T09:58:00.001-04:002012-06-29T09:58:40.880-04:00The Cost of Owning a Home (Last 20 Years)<a href="http://www.kcmblog.com/2012/06/29/the-cost-of-owning-a-home-last-20-years/">The Cost of Owning a Home (Last 20 Years)</a><br />
Are you paying attention? Right now is the best time in our lifetimes to buy real estate. Can it get any better? Don't wait too long to find out.John Talleyhttp://www.blogger.com/profile/02942511383000185882noreply@blogger.com0tag:blogger.com,1999:blog-5117944813459010240.post-6117358906082792132012-06-26T10:01:00.001-04:002012-06-26T10:02:10.479-04:00Experts Say Housing Prices Are About to Turn<a href="http://www.kcmblog.com/2012/06/26/experts-say-housing-prices-are-about-to-turn/">Experts Say Housing Prices Are About to Turn</a><br />
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The good news just keeps coming. Click on the blog post title to learn more.John Talleyhttp://www.blogger.com/profile/02942511383000185882noreply@blogger.com0tag:blogger.com,1999:blog-5117944813459010240.post-53310655934695666022012-06-18T16:24:00.001-04:002012-06-18T16:24:13.987-04:00Another Positive Report for Real Estate<a href="http://www.kcmblog.com/2012/06/18/another-positive-report-for-real-estate/">Another Positive Report for Real Estate</a><br />
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Welcome news!!!John Talleyhttp://www.blogger.com/profile/02942511383000185882noreply@blogger.com0tag:blogger.com,1999:blog-5117944813459010240.post-76177397506655748052012-06-13T11:02:00.001-04:002012-06-13T11:02:01.283-04:00Traditional 'rules' of homebuying return - MSN Real EstateThis is a good read. I say the market is definitely coming back. Wishful thinking on my part? <a href="http://on-msn.com/LtfFPg#scpti27">Traditional 'rules' of homebuying return - MSN Real Estate</a>John Talleyhttp://www.blogger.com/profile/02942511383000185882noreply@blogger.com1tag:blogger.com,1999:blog-5117944813459010240.post-31482971046121750122012-06-04T14:52:00.001-04:002012-06-04T14:52:34.910-04:00The Emotion Driving the Housing Recovery<a href="http://www.kcmblog.com/2012/06/04/the-emotion-driving-the-housing-recovery/">The Emotion Driving the Housing Recovery</a><br />
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People still want to have a house...John Talleyhttp://www.blogger.com/profile/02942511383000185882noreply@blogger.com0tag:blogger.com,1999:blog-5117944813459010240.post-68194872014184792332012-05-31T13:56:00.001-04:002012-05-31T13:56:32.410-04:00The Unspoken Appraisal Problem<a href="http://www.kcmblog.com/2012/05/31/the-unspoken-appraisal-problem/">The Unspoken Appraisal Problem</a> Another important read about the dilemma of the too often discrepancy between the agreed sales price between the parties and the actual appraised value of the property.John Talleyhttp://www.blogger.com/profile/02942511383000185882noreply@blogger.com0tag:blogger.com,1999:blog-5117944813459010240.post-42632655041468662182012-05-30T15:44:00.001-04:002012-05-30T15:44:58.828-04:00Nearly 16M Homes Are Now Underwater<a href="http://www.kcmblog.com/2012/05/30/nearly-16m-homes-are-now-underwater/">Nearly 16M Homes Are Now Underwater</a><br />
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Just when I'm getting excited that the housing market could be turning the corner...John Talleyhttp://www.blogger.com/profile/02942511383000185882noreply@blogger.com0tag:blogger.com,1999:blog-5117944813459010240.post-15081812147458183302012-05-29T13:05:00.002-04:002012-05-29T13:05:27.237-04:00Here's another "must listen..." <a href="http://www.damonwarmack.com/live/">http://www.damonwarmack.com/live/</a>John Talleyhttp://www.blogger.com/profile/02942511383000185882noreply@blogger.com0tag:blogger.com,1999:blog-5117944813459010240.post-42113281481875265852012-05-29T12:54:00.001-04:002012-05-29T12:55:07.470-04:00Brad McNett & Jake ReichbartCan't get enough of this. Please listen: <a href="http://soundcloud.com/bradmcnett/sets/brad-mcnett-jake-reichbart?utm_source=soundcloud&utm_campaign=share&utm_medium=blogger&utm_content=http://soundcloud.com/bradmcnett/sets/brad-mcnett-jake-reichbart">Brad McNett & Jake Reichbart</a>John Talleyhttp://www.blogger.com/profile/02942511383000185882noreply@blogger.com0tag:blogger.com,1999:blog-5117944813459010240.post-29566550892037978972012-05-25T16:32:00.001-04:002012-05-25T16:32:36.456-04:00Another Positive Report!<a href="http://www.kcmblog.com/2012/05/25/another-positive-report/">Another Positive Report!</a><br />
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More solid stats showing the real estate market is turning!John Talleyhttp://www.blogger.com/profile/02942511383000185882noreply@blogger.com0tag:blogger.com,1999:blog-5117944813459010240.post-81113615462559033002012-05-18T10:29:00.001-04:002012-05-18T10:59:22.531-04:00The Market Is Beginning To Turn<a href="http://www.kcmblog.com/2012/05/18/the-market-is-beginning-to-turn/">The Market Is Beginning To Turn</a><br />
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We're getting multiple offers on listings here in Wilmington, DE. I look for (hope for) there to be a "trickle up" effect to the higher end homes. most of what's selling is in the $150K to $300K range. But you have to think that will bode well for the $400K to $600K range eventually.<br />
<br />John Talleyhttp://www.blogger.com/profile/02942511383000185882noreply@blogger.com0tag:blogger.com,1999:blog-5117944813459010240.post-54823854557765334562012-04-25T20:12:00.001-04:002012-04-25T20:12:35.593-04:00For Sale: 2BR/1BA Single Family House in New Castle, DE, $129,900<a href="http://www.postlets.com/repb/7434709">For Sale: 2BR/1BA Single Family House in New Castle, DE, $129,900</a>John Talleyhttp://www.blogger.com/profile/02942511383000185882noreply@blogger.com0tag:blogger.com,1999:blog-5117944813459010240.post-71154101798985154672011-04-26T19:35:00.000-04:002011-04-26T19:35:45.156-04:00Interest Rates Are On The Rise<div style="-webkit-border-horizontal-spacing: 2px; -webkit-border-vertical-spacing: 2px; color: #333333; font-family: Verdana, Arial, Helvetica, sans-serif; font-size: 12px;"><img alt="" height="139" src="http://activerain.com/image_store/uploads/9/3/0/8/7/ar130385508778039.jpg" style="border-bottom-style: none; border-left-style: none; border-right-style: none; border-top-style: none;" title="Your Dream House" width="200" /></div><div style="-webkit-border-horizontal-spacing: 2px; -webkit-border-vertical-spacing: 2px; font-family: Verdana, Arial, Helvetica, sans-serif; font-size: 12px;"><span class="Apple-style-span" style="color: white;">Mortgage interest rates are on the rise. I've been preaching this for some time now (see my blog post of February 21, 2011) but the Federal Housing Finance Agency has made it official: <strong>the average mortgage interest rate hit 5.06%</strong> for the month of March. The last time the rate was as high as 5% was last June. This latest announcement highlights the undeniable upward trend in mortgage interest rates since November of last year when the average rate was 4.38%. This represents <strong>an approximate increase of 0.124% per month</strong>.</span></div><div style="-webkit-border-horizontal-spacing: 2px; -webkit-border-vertical-spacing: 2px; font-family: Verdana, Arial, Helvetica, sans-serif; font-size: 12px;"><span class="Apple-style-span" style="color: white;"><br />
</span></div><div style="-webkit-border-horizontal-spacing: 2px; -webkit-border-vertical-spacing: 2px; font-family: Verdana, Arial, Helvetica, sans-serif; font-size: 12px;"><span class="Apple-style-span" style="color: white;">As I wrote back in February, the interest rate you pay has a much more dramatic effect on you mortgage payment than the price of the house. Let's just assume the beautiful home pictured above is your dream house. And let's further suppose it's on the market right now at <strong>$400,000</strong>. If you finance <strong>$320,000</strong> (a typical 80% loan to value) at 5%, ignoring taxes and insurance for the sake of simplicity, you would have a payment of approximately<strong> $1,718</strong>. Let's now assume that, as is expected, property values continue to decline. Let's take a guess of another 5% reductin in property values between now and the end of the year. Let's also assume the interest rates are on the rise and increase at the same 0.124%. Mortgage interest rates would then be around 6.116% - so let's calculate for 6.125% - a much more likely number. Your mortgage, should you wait until December to buy, would then be based on a purchase price of <strong>$380,000</strong>, you would be financing <strong>$304,000</strong>, and your mortgage payment would be approximately<strong> $1,847</strong>, an increase of $133, or <strong>nearly 8% more per month </strong>than you would have paid had you bought now. Seems crazy, but it's true. My dad always says "Figures can't lie, but liers can figure," and this is a perfect example of that old anecdote. No matter what anyone says about waiting until the market hits bottom they are either dumb or lying. NOW is the time! Those numbers just can't lie. So buy that beautiful home now or wait until all you can afford is:</span></div><div style="-webkit-border-horizontal-spacing: 2px; -webkit-border-vertical-spacing: 2px; color: #333333; font-family: Verdana, Arial, Helvetica, sans-serif; font-size: 12px;"><img alt="" height="146" src="http://activerain.com/image_store/uploads/4/4/8/2/5/ar130386040452844.jpg" style="border-bottom-style: none; border-left-style: none; border-right-style: none; border-top-style: none; float: right;" title="Your Nightmare House" width="200" /></div><div style="-webkit-border-horizontal-spacing: 2px; -webkit-border-vertical-spacing: 2px; color: #333333; font-family: Verdana, Arial, Helvetica, sans-serif; font-size: 12px;"><br />
</div><div class="clearer" style="-webkit-border-horizontal-spacing: 2px; -webkit-border-vertical-spacing: 2px; color: #333333; font-family: Verdana, Arial, Helvetica, sans-serif; font-size: 12px;"> </div>John Talleyhttp://www.blogger.com/profile/02942511383000185882noreply@blogger.com0tag:blogger.com,1999:blog-5117944813459010240.post-2331741478696428452011-04-21T17:10:00.000-04:002011-04-21T17:10:04.994-04:00Real Estate Market Trends In New Castle County Delaware – Part One<div class="MsoNormal" style="-webkit-border-horizontal-spacing: 2px; -webkit-border-vertical-spacing: 2px; font-family: Verdana, Arial, Helvetica, sans-serif; font-size: 12px; text-align: left; text-indent: 0.5in;"><span class="Apple-style-span" style="color: white;">As the spring market starts winding up, my clients and friends are asking me about real estate market trends in New Castle County. I thought I would dedicate some posts on my blog to shed a little light on the topic. This is the first in a series of postings, so look for more to follow very soon. New Castle County is an interesting market. There are a lot of attorneys here due to so many large corporations making Delaware their state of incorporation. A large university (UD), a large bank (Bank of America) and a large multi-national conglomerate (DuPont) tend to dominate employment. It’s pricier here just due to being on the east coast. There is further price support for New Castle County real estate because real estate taxes in Delaware are so much lower than New Jersey and Pennsylvania. Many who work in Philadelphia chose to live here instead, thus creating more demand than there would otherwise be. </span></div><div class="MsoNormal" style="-webkit-border-horizontal-spacing: 2px; -webkit-border-vertical-spacing: 2px; color: #333333; font-family: Verdana, Arial, Helvetica, sans-serif; font-size: 12px; text-align: left; text-indent: 0.5in;"><br />
</div><div class="MsoNormal" style="-webkit-border-horizontal-spacing: 2px; -webkit-border-vertical-spacing: 2px; color: #333333; font-family: Verdana, Arial, Helvetica, sans-serif; font-size: 12px; text-align: center; text-indent: 0.5in;"><img alt="Supply and Demand Graph Image" height="94" src="http://activerain.com/image_store/uploads/9/5/8/9/2/ar130341905929859.jpg" style="border-bottom-style: none; border-left-style: none; border-right-style: none; border-top-style: none;" width="100" /></div><div class="MsoNormal" style="-webkit-border-horizontal-spacing: 2px; -webkit-border-vertical-spacing: 2px; color: #333333; font-family: Verdana, Arial, Helvetica, sans-serif; font-size: 12px; text-align: center; text-indent: 0.5in;"><br />
</div><div class="MsoNormal" style="-webkit-border-horizontal-spacing: 2px; -webkit-border-vertical-spacing: 2px; font-family: Verdana, Arial, Helvetica, sans-serif; font-size: 12px; text-align: left; text-indent: 0.5in;"><span class="Apple-style-span" style="color: white;">Speaking of demand, let’s get right to it. The laws of supply and demand, as the country has been so brutally reminded of over the last few years, are alive and well doing what they do. Real estate market trends in New Castle County have followed the same track as most of the country. Supply is up, demand is down, ‘nuff said really, but I’ll add historical detail for perspective. The charts I’m posting in this series come directly from TREND, the MLS for the region. The first chart shows total inventory of single family residences for New Castle County – that is, the homes that were on the market month by month over the last nine years and into the first quarter of 2011. </span></div><div class="MsoNormal" style="-webkit-border-horizontal-spacing: 2px; -webkit-border-vertical-spacing: 2px; color: #333333; font-family: Verdana, Arial, Helvetica, sans-serif; font-size: 12px; text-align: left; text-indent: 0.5in;"><br />
</div><div class="MsoNormal" style="-webkit-border-horizontal-spacing: 2px; -webkit-border-vertical-spacing: 2px; color: #333333; font-family: Verdana, Arial, Helvetica, sans-serif; font-size: 12px; text-align: center; text-indent: 0.5in;"> <img alt="New Castle County Inventory of Single Family Homes 2002-2011" height="365" src="http://activerain.com/image_store/uploads/3/6/0/3/1/ar130341838013063.jpg" style="border-bottom-style: none; border-left-style: none; border-right-style: none; border-top-style: none;" width="500" /> </div><div class="MsoNormal" style="-webkit-border-horizontal-spacing: 2px; -webkit-border-vertical-spacing: 2px; color: #333333; font-family: Verdana, Arial, Helvetica, sans-serif; font-size: 12px; text-align: left; text-indent: 0.5in;"><br />
</div><div class="MsoNormal" style="-webkit-border-horizontal-spacing: 2px; -webkit-border-vertical-spacing: 2px; font-family: Verdana, Arial, Helvetica, sans-serif; font-size: 12px; text-align: left; text-indent: 0.5in;"><span class="Apple-style-span" style="color: white;">The years 2002 through the middle of 2005 are pretty steady with between about 1,200 to 1,500 houses on the market at any given time. The bubble clearly starts to inflate at the middle of 2005 and 2006 then shows the stampede to the market as homeowners started cashing in on new-found equity in real estate. Demand was increasing and supply was stretching to meet it, and those who had been in there homes for a long time were taking a tidy profit. Inventory climbed even higher in 2007, exceeding 3,000 homes on the market in New Castle County for the first time ever. By the fall of 2007, many real estate professionals were already worrying that the level of inventory would exceed demand as prices continued to inflate – that even without any aberrations in the mortgage markets there would have to be a correction driven by the normal market functions. By the summer of 2008, most real estate professionals were saying it just cannot last. Then the Lehman Brothers tragedy hit and prices began their long decline. </span></div><div class="MsoNormal" style="-webkit-border-horizontal-spacing: 2px; -webkit-border-vertical-spacing: 2px; font-family: Verdana, Arial, Helvetica, sans-serif; font-size: 12px; text-align: left; text-indent: 0.5in;"><span class="Apple-style-span" style="color: white;"><span></span>What does this mean for you? I’m getting there…</span></div>John Talleyhttp://www.blogger.com/profile/02942511383000185882noreply@blogger.com0