Transportation costs may soon become a recognized expense for mortgage applications if the Natural Resources Defense Council study holds up.

The San Francisco Chronicle reported that the study showed that higher transportation costs resulted in a higher foreclosure rate:

The draft report looked at trends associated with 40,000 mortgages in San Francisco, Chicago and Jacksonville, Fla.

The release date for the final study has not been announced. The research included borrowers’ income and expenses, credit scores and loan-to-home value ratio.

It focused on the average number of vehicles owned per household in a neighborhood, and through a complex formula, found that the likelihood of mortgage foreclosure increased as neighborhood vehicle ownership rates rose.

If transportation costs were as much as 17% of a household budget, as the study suggests, a $5/gallon price for gasoline could negatively impact a family’s budget. Recent years’ foreclosure activity suggests that compunction towards making mortgage payments has given way to liquidity concerns. Moreover, a legal scholar suggests that any moral consideration associated with a strategic default is passe.

Let’s consider the hypothetical case of a family, with jobs in Los Angeles County, who purchased a $400,000 Riverside, CA home in 2007. The home price has withered to $300,000 and the family has “lost” their $80,000 down payment; they are $20,000 “in the hole”. This has them feeling despondent about the future of the property as an “investment”. Continue reading this post

We are pleased to announce the HomeGain AgentEvaluator® Top Performers™ of 2009.

Many HomeGain real estate agents and brokers had successful years, despite the downturn in home prices nationwide. We are proud to recognize these agents for their high level of accomplishment in association with HomeGain’s AgentEvaluator marketing program.

In addition to highlighting the 2009 Top Performers Nationwide, by Region, by State, and Rookie Agents of the Year, HomeGain recognizes agents who had impressive results and are deserving of honorable mentions. (Read the PRWeb press release)

HomeGain is proud that we can quantify the many successes of our AgentEvaluator agents in 2009. We look forward to continued success for all of our member agents in 2010.

Before announcing the Top AgentEvaluator Performers below, here are some 2009 AgentEvaluator highlights:

2009 AgentEvaluator Highlights:

• HomeGain recognizes 53 of its member real estate agents who have received Top Performer awards based on nationwide, regional and state achievements.
• Overall, in 2009 HomeGain’s top five Realtors earned an average of $146,885 in gross closed commissions from their HomeGain AgentEvaluator business and an average of 21 closed home sales (transactions).
• We now have a  total of 895 member agents in the AgentEvaluator Silver, Gold, Platinum and Million Dollar Clubs based on the following criteria:

- 2 agents are Million Dollar Club honorees, having earned over one million dollars in gross lifetime commissions from HomeGain business
- 22 agents are Diamond Club honorees, having earned over $500,000 in commissions
- 352 agents are Platinum Club honorees, having earned over $125,000 in commissions
- 282 agents are Gold Club honorees, having earned over $75,000 in commissions
- 237 agents are Silver Club honorees, having earned over $50,000 in  commissions

And the 2009 Top Performers for AgentEvaluator are…

Continue reading this post

Last week, HomeGain, the first company to provide free instant home valuations online, released the national and regional results of our fourth quarter home prices survey of nearly 1000 HomeGain current and former members. The survey asked their opinions on home values and what they thought of President Obama’s performance as President so far. On the HomeGain real estate blog we published the full survey results, including Realtor commentary and charts.  Also last week, we published the results of the fourth quarter Texas home prices, Florida home prices,  New York home prices, New Jersey home prices,  California home prices , Illinois home prices and Georgia  home prices survey results.

Earlier this week we released the Pennsyvania home prices, Colorado home prices the Arizona home prices , North Carolina home prices, the Virginia home prices,  the Washington home prices , the  Maryland home prices, and the Massachusetts home prices survey  results.

Today we are releasing the Nevada home prices survey results.

(click on each question to see complete results):

1. Have home prices increased, decreased or stayed the same in the last year?
2. On average, what do homeowners believe that their home is worth?
3. How do buyers feel that homes for sale are priced?
4. What is the average difference in price between what sellers believe their home to be worth and the amount at which the home gets listed?
5. What is the average difference in price between what a home is listed at and what a home sells for?
6. In the next six months, will the values of homes in your market increase, decrease or stay the same?
7. What percentage of homes for sale are foreclosures in your area?
8. What is the average home price in your area?
9. What percentage of your clients are first-time buyers?
10. How do you as a Realtor think Barack Obama is performing in his role as President?

Continue reading this post

Last week, HomeGain, the first company to provide free instant home valuations online, released the national and regional results of our fourth quarter home prices survey of nearly 1000 HomeGain current and former members. The survey asked their opinions on home values and what they thought of President Obama’s performance as President so far. On the HomeGain real estate blog we published the full survey results, including Realtor commentary and charts.  Also last week, we published the results of the fourth quarter Texas home prices, Florida home prices,  New York home prices, New Jersey home prices,  California home prices , Illinois home prices and Georgia  home prices survey results.

Earlier this week we released the Pennsyvania home prices, Colorado home prices the Arizona home prices , North Carolina home prices, the Virginia home prices,  the Washington home prices , the  Maryland home prices, the Nevada home prices and the Massachusetts home prices survey  results.

Today we are releasing the Ohio home prices survey results.

Set forth below is the fourth quarter Ohio home prices data with the national data in parenthesis:

1. Have home prices increased, decreased or stayed the same in the last year?
2. On average, what do homeowners believe that their home is worth?
3. How do buyers feel that homes for sale are priced?
4. What is the average difference in price between what sellers believe their home to be worth and the amount at which the home gets listed?
5. What is the average difference in price between what a home is listed at and what a home sells for?
6. In the next six months, will the values of homes in your market increase, decrease or stay the same?
7. What percentage of homes for sale are foreclosures in your area?
8. What is the average home price in your area?
9. What percentage of your clients are first-time buyers?
10. How do you as a Realtor think Barack Obama is performing in his role as President?

Continue reading this post

Last week, HomeGain, the first company to provide free instant home valuations online, released the national and regional results of our fourth quarter home prices survey of nearly 1000 HomeGain current and former members. The survey asked their opinions on home values and what they thought of President Obama’s performance as President so far. On the HomeGain real estate blog we published the full survey results, including Realtor commentary and charts.  Also last week, we published the results of the fourth quarter Texas home prices, Florida home prices,  New York home prices, New Jersey home prices,  California home prices , Illinois home prices and Georgia  home prices survey results.

Earlier this week we released the Pennsyvania home prices, Colorado home prices the Arizona home prices , North Carolina home prices, the Virginia home prices,  the Washington home prices and Massachusetts home prices survey  results.

Today we are releasing the Maryland home prices survey results.

Set forth below is the fourth quarter Maryland home prices data with the national data in parenthesis:

1. Have home prices increased, decreased or stayed the same in the last year?
2. On average, what do homeowners believe that their home is worth?
3. How do buyers feel that homes for sale are priced?
4. What is the average difference in price between what sellers believe their home to be worth and the amount at which the home gets listed?
5. What is the average difference in price between what a home is listed at and what a home sells for?
6. In the next six months, will the values of homes in your market increase, decrease or stay the same?
7. What percentage of homes for sale are foreclosures in your area?
8. What is the average home price in your area?
9. What percentage of your clients are first-time buyers?
10. How do you as a Realtor think Barack Obama is performing in his role as President?

Continue reading this post

Continue reading this post