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“Current residential shadow inventory continued to fall from peak levels, CoreLogic said in a third quarter report. Shadow inventory shrank to 2.3 million units in October, which represents a supply of seven months. This accounted for 85% of the 2.7 million properties currently seriously delinquent – in foreclosure or real estate owned. A year ago, shadow inventory stood at 2.6 million units, dropping 12.3%.”
“After saving up for the last five years, Shannon Alexander and her boyfriend are buying a house this month just outside Denver. At four bedrooms and 2,300 square feet, their new place is twice the size of the condo Alexander bought in 2004, and at $389,000, it’s more than twice the price, too. “I just feel really comfortable with where the economy is because my job is very much consumer-based,” says Alexander. She and her boyfriend, Josh Hill, are store team leaders at Target (TGT). Says Alexander, ‘If Target does well, then I do well.’”
“Almost four years after Fannie Mae (FNMA) was put into U.S. conservatorship, the Treasury Department has yet to erase skepticism that the nation?s biggest mortgage financier is as secure as government-owned Ginnie Mae. While the difference between prices for Fannie Mae?s 3.5 percent home-loan bonds and similar Ginnie Mae debt with unconditional U.S. backing has narrowed about 0.3 cent to 2.2 cents on the dollar since the Treasury eased some bailout terms for Fannie Mae and Freddie Mac last week, it?s still above the average of the past two years, data compiled by Bloomberg show. The gap fell the most this year after the Aug. 17 announcement.”
What is the legal working age in California? I hope it is three and a couple months. Here is Sabrina’s daughter doing an inspection on a house. Pay close attention you don’t want to miss anything. Oh, and when the screen goes black that’s just her finger give it a second and you will see again. This is the perfect inspections as long as you only need to see the bottom three feet of the entire house. Tile looks good, carpet looks good oh and that finger everything is right on track.
What a beauty and can you believe we picked it up under $100,000. I mean come on 2004, 2200 sq ft home in a great neighborhood. There is an elementary school at the end of the street and the high school is three blocks away. Listed for rent on Saturday and have received over twenty calls, shown it twice and have two applications on file. It’s only Tuesday!!! Check out the rehab – kitchen is in and looks great, new paint, carpet, enclosed one room and cleaned the unit. I’ll take another please!
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