The Greater Brandon Area is a growing and active group of communities with new listings coming on the market all the time. Active properties on the market currently total 1,119 with the average list price of $200,278.

Greater Brandon Area Sold/Sale Pending Listings:

Currently, there are 779 properties with pending sales. In December 2011, 245 properties closed, they were on the market for 113 days before they went pending and 175 days before they closed. The average sale price for December’s sold homes was $158,564. The ratio of the average original list price to the average sold price was sold was 90% which means on average, sellers received 90% of the asking price for their home.

Data provided by the MLXchange.

The Greater Brandon Area is a growing and active group of communities with new listings coming on the market all the time. Active properties on the market currently total 1,170 with the average list price of $201,090.

Greater Brandon Area Sold/Sale Pending Listings:

Currently, there are 822 properties with pending sales. In December 2011, 186 properties closed, they were on the market for 98 days before they went pending and 157 days before they closed. The average sale price for December’s sold homes was $155,741. The ratio of the average original list price to the average sold price was sold was 92% which means on average, sellers received 92% of the asking price for their home.

Data provided by the MLXchange.

The Greater Brandon Area is a growing and active group of communities with new listings coming on the market all the time. Active properties on the market currently total 1,202 with the average list price of $206,469.

Greater Brandon Area Sold/Sale Pending Listings:

Currently, there are 771 properties with pending sales. In October 2011, 225 properties closed, they were on the market for 87 days before they went pending and 146 days before they closed. The average sale price for October’s sold homes was $143,229. The ratio of the average original list price to the average sold price was sold was 90% which means on average, sellers received 90% of the asking price for their home.

Data provided by the MLXchange.

The word is out. The administration has finally acted on its promise to assist people in lowering their living expenses.

While the state of economy remains less-than-favorable, there is a rapidly growing consensus among Americans that the nation’s sub-par housing market is what’s holding back the economic recovery. Home values are hovering at 8-year lows and millions of homeowners owe more than their homes are actually worth.

Last week, the Home Affordable Refinance Program (HARP) was unveiled. Backed by The Federal Housing Finance Agency (FHFA), Fannie Mae and Freddie Mac, the program is intended to make it easier for lenders to refinance the mortgages of eligible borrowers. To explain the program simply, it has been broken down into two major parts:

Part 1:

First, they will allow unlimited loan to values in many situations. This means that homeowners will be able to refinance even if their home is “underwater.” This will help the thousands of homeowners in need of refinancing, but cannot not due to home values.

Part 2:

The second part of the program is a “relaxed plan” for the “representations and warranties” of a newly refinanced loan. This means that the new lender is going to receive protection from Fannie Mae and Freddie Mac for agreeing to buy and service this potentially “risky” loan.

With the lowest rates in recent history (near 4 percent), there could not be a better time for this type of program. You can create equity in your property by refinancing and then paying the monthly savings to principal. While HARP will not solve all of the problems within the housing market, it is an invaluable step towards the recovery of the housing market and economy.

Before you jump the gun, ask yourself these questions:

Am I Eligible?

Only borrowers whose loans are owned or guaranteed by Fannie Mae and Freddie Mac will be eligible. Additionally, borrowers must have taken out their loans before June 1, 2009, and have not missed more than one payment within the last year, and none in the past six months. The current loan-to-value ratio on the mortgage must exceed 80 percent, and having a mortgage that was previously refinanced under the program automatically disqualifies you from the program.

How Do I Take Advantage of HARP?

The first step towards taking advantage of this program is to find out if your mortgage is owned by Fannie Mae or Freddie Mac. If so, contact your lender that offers HARP refinancing.

When Do the Changes Go into Effect?

The FHFA is expected to publish all the final details before the end of this month. However, some borrowers may not be eligible to enroll in the program until the first quarter of next year.

Originally intended to reach up to 5 million people, the program has since fallen short reaching only 822,000, one tenth of the number of people who are underwater. If you are eligible for refinancing under HARP, contact your lender. For more questions about HARP or buying or selling a home, stay in touch with my blog or contact me with questions.

Brenda Wade
www.BrendaWade.com
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The Greater Brandon Area is a growing and active group of communities with new listings coming on the market all the time. Active properties on the market currently total 1,189 with the average list price of $205,727.

Greater Brandon Area Sold/Sale Pending Listings:

Currently, there are 783 properties with pending sales. In September 2011, 250 properties closed, they were on the market for 102 days before they went pending and 162 days before they closed. The average sale price for September’s sold homes was $163,853. The ratio of the average original list price to the average sold price was sold was 89% which means on average, sellers received 89% of the asking price for their home.

Data provided by the MLXchange.

The Greater Brandon Area is a growing and active group of communities with new listings coming on the market all the time. Active properties on the market currently total 1,164 with the average list price of $206,948.

Greater Brandon Area Sold/Sale Pending Listings:

Currently, there are 864 properties with pending sales. In August 2011, 258 properties closed, they were on the market for 114 days before they went pending and 165 days before they closed. The average sale price for August’s sold homes was $165,699. The ratio of the average original list price to the average sold price was sold was 91% which means on average, sellers received 91% of the asking price for their home.

Data provided by the MLXchange.

The Greater Brandon Area is a growing and active group of communities with new listings coming on the market all the time. Active properties on the market currently total 1,278 with the average list price of $209,346.

Greater Brandon Area Sold/Sale Pending Listings:

Currently, there are 861 properties with pending sales. In July 2011, 268 properties closed, they were on the market for 111 days before they went pending and 164 days before they closed. The average sale price for May’s sold homes was $155,089. The ratio of the average original list price to the average sold price was sold was 90% which means on average, sellers received 90% of the asking price for their home.

Data provided by the MLXchange.

The Greater Brandon Area is a growing and active group of communities with new listings coming on the market all the time. Active properties on the market currently total 1,209 with the average list price of $212,909.

Greater Brandon Area Sold/Sale Pending Listings:

Currently, there are 909 properties with pending sales. In June 2011, 289 properties closed, they were on the market for 109 days before they went pending and 164 days before they closed. The average sale price for May’s sold homes was $171,228. The ratio of the average original list price to the average sold price was sold was 91% which means on average, sellers received 91% of the asking price for their home.

The Greater Brandon Area is a growing and active group of communities with new listings coming on the market all the time.  Active properties on the market currently total 1,249 with the average list price of $208,305.

Greater Brandon Area Sold/Sale Pending Listings:

Currently, there are 955 properties with pending sales.  In May 2011, 259 properties closed, they were on the market for 93 days before they went pending and 148 days before they closed. The average sale price for May’s sold homes was $145,634.  The ratio of the average original list price to the average sold price was sold was 89% which means on average, sellers received 89% of the asking price for their home.