June 2009

Found 3 blog entries for June 2009.

Apparently, there are four Carolyn Capalbos currently in the United States, but one is particularly famous. Here is my tale about how another Carolyn Capalbo and her daughter are impacting my life.

Let's go back to March 12, 2008. My husband Steve and I were enjoying a late afternoon snack of wings at Glory Days in Gainesville, while the kids were doing extra-curricular activities at school. My phone started ringing off the hook, even a bit more than usual (my phone rings constantly). Anyway, I picked up on one of the calls and answered the phone like I always do: "Hi this is Carolyn." The woman on the other side asked if this was Carolyn Capalbo, and I said yes. Then she asked me if I was Ashley's mother. Now

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I received a recent email from one of my REO clients telling me that their company has just lifted their self imposed foreclosure moratorium.  This is the same information that I have also received from two other REO clients.  All of which have said "enjoy the break," the floodgates of foreclosure inventory is going to open soon.  My current marketplace's inventory is very low and the shortfall has caused a recent rebound to local prices over the past 90 days.  Multiple offers per property is standard and values are escalating above their asking prices.  Due to the recent jump in prices, we are seeing issues with appraisals not quite coming up to the new market pricing.  First time buyers are starting to worry that they won't be able to find a property in

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That's an alarming number.  What does this mean to me and my neighborhood?  While this is a national number, this could impact our local communities greatly.  With over 12% of all mortgages in the US currently delinquent, and foreclosures are happening at a rate of one every 13 seconds, homeowners need to be concerned about another potential shift in market values.  In our area of Northern Virginia, we have seen a recent shift from a Buyer's market to a Seller's market.  Multiple offers and escalating prices have dominated our marketplace over the past 90 days.  Will an increase in foreclosure inventory be met with an available, ready, willing and able Buyer Pool?  That is the question.  Let me know what you…
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