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October 2013

Found 2 blog entries for October 2013.

Market Report – September 2013SOLD

Highlights and Analysis:

• The median sale price for All MLS sales increased to $125,000 – up by 40%
• All MLS sales were up by 9.7% for Sept. compared to Sept. 2012
• Of the 6,235 sales closed in Sept. 6% (372) were identified as short sales
• Of the 6,235 sales closed in Sept. 35% (2,160) were identified as CASH sales

Synopsis of Inventory:

• Average Days On-Market decreased by 22 days, from 76 to 54
• The on-market inventory declined by 13%, from 26,023 to 22,535
• Approx. 6% of the on-market inventory is comprised of short sales.
• Approx. 13% of the on-market inventory is comprised of foreclosures. 

Sellers - What does this means for you?

Low Supply +High Demand + Mark Z Marketing = MORE $$$$

We will sell

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Effective October 1, 2013 U.S. Department of Housing and Urban Development (HUD) has announced the following changes to their Federal Housing Administration (FHA) Short Sale requirements: 

  • short-sales-mark-z-home-selling-teamEligibility Requirements: To successfully complete a short sale under the FHA short sale program, the borrowers must meet the following requirements:
    • They cannot list the property with or sell it to anyone with whom they are related or have a close personal or business relationship.  In legal terms, it must be an "arm's-length" transaction.  Any knowing violation of the arm's-length requirement may be a violation of federal law.
    • Your mortgage must be in default, on the date the short sale transaction closes.
    • Before closing, any additional liens against the
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