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This is really funny and creative: US home prices sung like opera by  Timothy McDevitt

npr, Planet Money
Jacob Goldstein and David Kestenbaum

April 26, 2011

All Things Considered



Source: Case-Shiller Home Price Index, via Standard & Poors

Credit: Alyson Hurt

The Case-Shiller home price index is a powerful way to look at the story of housing in America. You can see the boom and bust all in one simple graph.

But when we go on the radio to talk about home prices, a graph isn’t much good to us — nobody can see it.

So we converted the Case-Shiller graph into musical notes.

Case Shiller opera

Jess Jiang/Case-Shiller home price index

We gave the sheet music to Timothy McDevitt, a baritone who’s getting a master’s degree at Juilliard. Then we got Karl Case and Robert Shiller — the economists who created the index — to listen to the music weigh in.

Here’s what the past decade of housing in America sounds like:
Read more…

May 7, 2011 Posted by | Market Statistics, Selling | , , | Leave a comment


Is a Short Sale or a Foreclosure My Best Option?

by The KCM Crew on May 4, 2011

We get asked this question quite often. In a rapidly changing market, it is difficult to give absolute answers. Much depends on your family’s personal situation. However, if you realize that you can no longer make the payments, you may have to decide between doing a short sale or letting the home go to foreclosure. Here are three things you may wish to consider:

1.) Impact on Your Future Ability to Get a Mortgage

There are many different lending institutions, each with their own requirements when it comes to your ability to obtain a mortgage in the future. However, a common trend is to be much more lenient with someone working through a short sale rather than letting the house go to foreclosure. As an example, the Fannie Mae site, Know Your Options explains you:

May be able to get a Fannie Mae mortgage to purchase a home sooner (in as little as 2 years) than if you went through foreclosure (at least 7 years)

You can get further information here. However, in a rapidly changing environment, make sure you get the latest information available from the actual lending institutions mentioned.

2.) Impact on Your Credit Score

There has been much dialogue on this issue. The question is whether or not a foreclosure will have a more severe impact on your credit score than a short sale. A recent FICO study sheds needed light on this question. Here is a chart from that report.
Read more

May 4, 2011 Posted by | Foreclosures, Short Sales | , , , , , | Leave a comment



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May 3, 2011 Posted by | Buying, Homes for Sale, Selling | , , , | 1 Comment


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