Homes for sale Destin

Under the revised policy, FHA will require purchasers to be financially capable of handling the mortgage, and underwriters will look hard at appraisals. But the agency no longer will rule out insuring a mortgage simply because title to the property had changed hands within the previous three months.

Investors and property disposition firms who work with lenders’ “REO” departments can play key roles in returning abandoned and damaged houses back to productive use.

But without dependable financial takeouts — affordable mortgages for buyers whose credit histories may be imperfect — their jobs are much tougher.

Read Full Post »

Total housing inventory at the end of June rose 2.5 percent to 3.99 million existing homes available for sale, which represents an 8.9-month supply at the current sales pace, up from an 8.3-month supply in May.

“The supply of homes on the market is higher than we’d like to see. But home prices are still holding their ground because prices had already overcorrected in many local markets,” Yun said. Raw unsold inventory remains 12.7 percent below the record of 4.58 million in July 2008.

Read Full Post »