THE QUESTION: What Holds the Title as the Tallest Reinforced Concrete Building in the U.S.?
HINT - “It’s Not in Delaware”
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THE ANSWER: 311 South Wacker Drive in Chicago
THE FACTS:
311 South Wacker Drive is a worthy accompaniment to the Sears Tower next door. In its stature it mimics the Sears, and from certain angles, its flanking wings appear to be setbacks in the same manner as its neighbor. 311 South Wacker stands out, in part, because of its location. Aside from Sears, there are few nearby towers tall enough to compete with it. Another tower planned for this plot of land is still just a drawing, and as of this writing the space where it will go is a community park. Plans for other skyscrapers on nearby blocks are also on hold, and with no serious competitors to the south, this building dominates the landscape, marking the southern edge of the Loop skyscraper forest. While the Sears Tower is much taller, 311 South Wacker takes the same skyscraper formula and updates it. Instead of the Sears Tower’s forceful black glass squares, 311 South Wacker uses an octagonal main shaft clad in pink granite from Texas. The result is a smaller, more stylish presentation. Think of it as the cute girl next door to the big brute looking down on her. While the Sears may puff out its chest and light up its spires in festive colors, 311 South Wacker shows him up through simple elegance – a 70-foot-tall, 65-foot-wide barrel lit up in white at night, and surrounded by four smaller and nearly identical forms – like a central diamond surrounded by accent diamonds in an engagement ring.
HappyHuesday
enjoy today’s colorful collection of inspiring homes, disgustingly gorgeous locations, opinionated interior designs, magnificent mansions and much more...
Fannie / Freddie
"Streamlines" Are Here
No appraisal...No Limit on LTV....Marginal Credit "OK".
Good Morning Agents!
You heard it. This loan program will give you an opportunity to contact your farm, data base or inner circle of friends.
The new HARP "2. 0 program will start being funded March 17th 2012. Borrowers can begin applying immediately! Before the rush of applications begins bogging down lender's capacity.
Many homeowners will still not qualify because of debt to income ratios, multiple mortgage lates or simply or (terrible) credit.
Those homeowners are prime possibilities for future short sales.
Here's the basic criteria
Max. DTI is 45%.
No mortgage lates in the last 6 months.
Only one mortgage lates in the last 12 months.
Note: That investors/lenders may impose stricter criteria than those 3 listed above.
Most banks are not be participating in the program.
I've been told "off the record": "Why would we (banks) wish to lower a borrower's interest rate when they have good credit scores and no history of lates".
In fact..there is a "full court" press on currently in Washington DC, to "kill this program in the cradle". (No wonder they are referred to as "banksters").
A previous program has been available since December 2011... but borrowers were limited to 125% LTV. And was only moderately successful. Many borrower were just too far underwater to help.
This new program appears to be the "silver bullet" that will alleviate the housing crisis.
Here are the highlights of the HARP 2.0
1.The loan must be backed by Fannie Mae or Freddie Mac.
2. The current mortgage must have a securitization date prior to June 1, 2009.
3. In other words, you must have purchased or refinanced on your property before June 1, 2009.
4. The original loan amount was $417k or less
"HARP" 2.0
Q and A
1) How do I know if Fannie Mae or Freddie Mac has my mortgage?
Fannie Mae and Freddie Mac have "lookup" forms on their respective websites.
Go to www.fanniemae.com/loanlookup/ .
If no match is found, https://ww3.freddiemac.com/corporate/ .
Your loan must appear on one of these two sites to be eligible for HARP.
2) Does HARP work the same with Fannie Mae as with Freddie Mac? Yes.
3) Am I eligible for the Home Affordable Refinance Program if I'm behind on my mortgage? No. You must be current on your mortgage to refinance via HARP.
4) If I refinanced with HARP a few years ago, can I use it again for HARP II? No. You can only use the HARP mortgage program one time per home.
5) I am really far underwater on my mortgage. Can I use HARP? Yes. There is no loan-to-value restriction under the HARP mortgage program....so long as your new mortgage is a fixed rate loan with a term of 30 years or fewer.
If you choose an adjustable-rate mortgage, your loan-to-value is capped at 105%.
6) Is mortgage insurance required for LTV 's greater than 80%? Only if the original loan had mortgage insurance.
7) Can borrower(s) be removed through the refinance transaction? Yes.
8) Is any "cash out" allowed on the refi? No...however you can roll into the loan impounds, loan fees and escrow costs into the loan.
9) Can I roll my "second/heloc"...into the refi? No. However...If the borrower has a "second/heloc" ..that investor may allow for a "subordination" of the 2nd loan.
Most lenders will co-operate ....but will restrict the increase of the 1st to just 10%....which should be acceptable.
10) What will be the rates? Rates are determined by credit score...and are slghty higher than market rates for Fannie Mae loan products.
11) Does this program cover investment property? Yes..but the LTV is limited to: 105%.
12) Is an appraisal required? Technically "Yes". Borrowers with marginal credit scores AND high debt ratios MAY be required to have "appraisal".
But the "appraisal" is simply a housing inspection to determine the CONDITION of the property.
13) What are the terms of the loan(s)? 30-20 and 15 yrs. Borrowers choosing the 20 or 15 year mortgage will have no appraisal requirement.
In Closing:
With the political climate in Washington DC, borrowers are advised to begin the process as soon as possible. Fannie and Freddie's budget could be cut back at any time.
Placentia, Orange County
Real Estate Market Reports
& Trends for the Week of February 13
The following below is an exclusive report that contains real estate trends, graphs, market updates and home sales information for city of Placentia in Orange County. It is the latest report on the real estate market in the city including valuable forecast information for home buyers, sellers and real estate agents. These reports include data for specific zip code area of 92870 for Placentia.
- City of Placentia -
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Placentia
Placentia - 92870 I Placentia - All Zip
Past Reports
Brea, Orange County
Real Estate Market Reports
& Trends for the Week of February 13
The following below is an exclusive report that contains real estate trends, graphs, market updates and home sales information for city of Brea in Orange County. It is the latest report on the real estate market in the city including valuable forecast information for home buyers, sellers and real estate agents. These reports include data for specific zip code areas of 92821, 92823 of Brea.
- City of Brea -
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Brea
Brea - 92821 I Brea - 92823 I Brea - All Zip
Past Reports
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Hewlett Packard National Realtor Technology award winner, B.S. in Computer Science and Economics, one of the top Realtors in Orange County.
Why people 'click' with Realtor Adam...
There's a reason why many of Adam Brett's clients say "we just clicked" - he often becomes more than just a Realtor, he becomes first and foremost, a trusted friend. Adam finds few things more rewarding than touching people's lives in a positive way.
For many years Adam has been recognized by both his company and his competitors as one of the top sales agents in the North Orange County Area. Adam's skill of crafting mutually satisfying deals has earned him an exceptional reputation and induction into the RE/MAX Hall of Fame; an honor acheived by only 12% of RE/MAX agents worldwide.
Prior to finding his true calling in real estate, Adam earned his B.S. in Computer Engineering and became a Six Sigma specialist. His innovative use of technology in real estate marketing earned him the 2007 Hewlett Packard National Technology Award, the 2008 Realtor.com National Marketing Award and the 2010 FIVE STAR Award, given to less than 7% of Orange County real estate agents. Adam's creativity and technical knowledge work to the great advantage of his clients, who benefit from his countless resources for the latest listings and most advanced property marketing.
Adam is the agent people turn to when other agents have given up on them, or have lost enthusiasm - like many first-time homebuyers. Buying a home; especially for the first time, can be an intimidating and arduous task. But with Adam at their side, clients quickly see how he continually puts all of his considerable business acumen and experience to work to put them at ease. Whether a client is buying their first home, selling their existing home, or upgrading to their dream home, Adam can help.
From the moment you meet Adam, you can't help but notice his upbeat personality and energy. It is this combination of these traits coupled with a personal touch and impeccable work ethic that makes an encounter with this leading businessman a pleasure. When you add his problem solving skills, negotiating prowess, and extensive background in finance and business, it's not surprising that he's the first choice of buyers, sellers, and investors in the North Orange County area.
Adam has been the top sales agent at RE/MAX North Orange County since 2008...but he'll be the first to tell you: "I'd rather hand you the keys to your new home, hammer a sold sign on your door, or help you sleep better at night with fewer financial worries than hang another plaque on my wall." That is why so many people 'click' with Adam.
Adam Brett Freilich CA DRE LIC#01499486
Residential Re-Sale, Commercial Properties, Foreclosures and Investments. As a long-time Fullerton resident Adam is intimately familiar with North Orange County neighborhoods. He has extensive expertise in residential real estate, commercial build outs, hard money lending and mortgage banking. As an authorized REO agent for CountryWide Home Loans and World Savings he has extensive experience in all aspects of the foreclosure process. Investors rely on his knowledge and experience to help them identify and capitalize on distressed properties.
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