Mark Dewberry Realty

My New Blog: http://markdewberryrealty.blogspot.com

Mark Dewberry — Mon, 06 Jun 2011 18:27:48 +0000

Thank you for visiting my real estate blog. I have now moved to a new blog which will be updated regularly

http://markdewberryrealty.blogspot.com

Pleas feel free to visit.

Listing: 6416 Hummingbird LN Matteson, IL MLS#: 07621215

Mark Dewberry — Sat, 02 Apr 2011 17:44:50 +0000

Listing Price: $155,000

4 Bedrooms

2.1 Bathrooms

Beautiful 2 story home with plenty of space to do whatever you please. This house has a large master bedroom with walk-in closet and full bath. It also has a spacious kitchen and dining area just waiting to be used. There is also a full unfinished basement that needs the right buyer to put on their finishing touch.

The price of rent goes up as the number of vacancies go down.

Mark Dewberry — Sat, 10 Jul 2010 14:54:44 +0000

In today’s market it has become increasingly harder for most people to obtain a home loan and many people who have mortgages are having problems keeping their homes. This is one of the main reasons that the number of rental vacancies have dropped nationally this year from 8% in the first quarter to 7.8% at the end June. This may not seem like a big problem, but the drop in vacancies has caused a 0.7% increase in rent since April making this the largest quarterly gain in two years. As the number of vacancies continue to dwindle rent will continue to rise at a higher pace.

Tax Credit Extension Passes

Mark Dewberry — Thu, 08 Jul 2010 02:59:19 +0000

Tax Credit Extension Passes; Senate OKs Flood Bill

After a close brush with a deadline that could have impacted tens of thousands of home buyers, the U.S. Congress last night passed an extension of the Home buyer Tax Credit closing deadline.

The extension is included in the Home Buyer Assistance and Improvement Act (H.R. 5623) and will prevent as many as 180,000 home buyers from losing their eligibility for the tax credit through no fault of their own. These households had home purchase contracts pending as of April 30 and had until June 30 to close on their purchases to claim the federal tax credit. Under the legislation that passed last night, these households now have until September 30 to close….

Click for full story

Source:NAR

House of Reps. back tax credit extension

Mark Dewberry — Wed, 30 Jun 2010 13:00:58 +0000

The House of Representatives approved the homebuyer tax credit extension for those buyers who qualify for the tax credit but wont close by the current deadline of June 30, 2010. The extension will give those qualifying buyers until September 30, 2010 to close in order to receive the $8,000 tax credit.

The extension must be approved by The Senate before it can be signed into law by President Obama.

By Corbett B. Daly Corbett B. Daly – Tue Jun 29, 10:00 pm ET

WASHINGTON (Reuters) – The House of Representatives on Tuesday approved giving extra time to thousands of homebuyers trying to get a popular federal tax credit by the end of the month.

The House backed by a vote of 409-5 a measure to extend the closing deadline to September 30 for buyers who already met the April 30 deadline to have a signed contract….

For complete story:

http://news.yahoo.com/s/nm/20100630/pl_nm/us_usa_housing

Over 7,000 Illinois Homebuyers may lose Tax Credit, Thousands more across the nation.

Mark Dewberry — Tue, 29 Jun 2010 15:58:28 +0000

Unless Congress acts swiftly to extend the June 30, 2010 deadline to September 30,2010 for the First-time home buyer tax credit, thousands of buyers expecting to receive the tax credit may lose out due to no fault of their own. Buyers who met the contract deadline of April 30, 2010 would be eligible to receive the $8,000 tax credit but would have to close on the property before the June 30 deadline unless the extension is granted. The extension would give many of those buyers the extra time needed to close due to the large work volume of lenders or other factors that may be out of the buyers control. Nearly 180,000 buyers in U.S. may lose out on the tax credit, which was a major incentive for many of the buyers in the first place. It would be terrible for those who have waited this long and have went through the process and done things correctly to miss out on something that they were promised.

Mortgage Rates at an All Time Low

Mark Dewberry — Tue, 29 Jun 2010 04:52:10 +0000

Even though Mortgage rates have dropped it has become increasingly harder for people to qualify for a home loan. With this drop in rates hopefully prospective buyers who can qualify will see this as a reason to start looking.

Average interest on a 30-year fixed mortgage fell to an all-time low of 4.69 percent this week, down from 4.75 percent a week ago, reports Freddie Mac.

Although rates have held below 5 percent since early May, Michael Fratantoni of the Mortgage Bankers Association notes that demand for purchase loans has fallen in six of the past seven weeks and now is at a 13-year low. Consumers have grown used to low rates, he explains, adding that they balk at buying because they are more concerned about stagnant wages and high unemployment.

Source: Washington Post, Dina ElBoghdady (06/25/10)

Fannie Mae going after homeowners who walk away

Mark Dewberry — Fri, 25 Jun 2010 01:41:05 +0000

Mortgage giant Fannie Mae is planning on taking legal action against homeowners who can afford to make their mortgage payments but are choosing to walk away and let the homes go into foreclosure, Fannie Mae also wants to limit their access to home loans for seven years. Fannie Mae will begin pursuing deficiency judgements, a court order requiring defaulted borrowers to pay any unpaid portion of the loan after a seized home is sold. In a market that is flooded with foreclosures that seem to increase by the day, it’s not hard to believe that many homeowners are just throwing in the towel. It seems that Fannie Mae is trying to make those considering just giving up on making payments choose another option such as doing a short sale in which the property can be sold and the debt cancelled without full payout of the mortgage.

A short sale is one of the best options for anyone who is in danger of losing their home due to non-payment.

For more information on the short sale process email me: markdewberry1@gmail.com

Open House: Saturday June 26,2010 @ 17200 Constance South Holland, IL 1:00-3:00pm

Mark Dewberry — Wed, 23 Jun 2010 20:02:47 +0000

List Price: $285,000

5 Bedrooms
4 Bathrooms
3500 Sq. ft. (approx)
3 Car garage
Finished basement and lower level

Beautifully Designed two story home located on a quite tree-lined block in South Suburban Village of South Holland. This large home consists of 5-bedrooms, 4 bathrooms, a finished lower level as well as a finished sub-basement. Enormous family-room with a stone wall wood-burning fire place, mud-room and tons of storage. Seller is wiling to assist with Closing Cost or Down-Payment Assistance. Property sold As-Is.

An open house will be held on Saturday June 26, 2010 at my listing located at 17200 Constance in South Holland, IL between 1:00-3:00 pm. Please feel free to stop by and take a look.

Senate extends home buyers tax credit closing deadline.

Mark Dewberry — Fri, 18 Jun 2010 18:43:06 +0000

This is good news for anybody who is currently in the process of buying a home.

Senate Extends Tax Credit Closing Deadline
The U.S. Senate voted Wednesday to extend the home buyer tax credit closing deadline to Sept. 30, giving an estimated 180,000 buyers who met the contract deadline of April 30 extra time to close the transaction.

The extension was added to a bill to pay for jobless benefits.

The NATIONAL ASSOCIATION OF REALTORS® estimates that one-third of qualified applicants have been notified that they will be unable to close by the deadline. The Mortgage Bankers Association says delays are caused largely by the volume of transactions.

The measure still must be approved by the House.

Source: Associated Press, Andrew Taylor (06/16/2010)