* Physical qualities:

-         Location

-         Age

-         Size of House and Lot

-         Floor plan and design style

* The Competition:

-         The number of similar properties for sale

-         Their prices and financing terms

-         Physical Condition

Then there are some factors that have no effect on the current value of your property.   These factors are original price and opinions of others.

* Original Price:

-         What you originally paid for your house

-         Credits or closing costs

-         Down Payment

-         The actual Sale Price

* Opinions

-         What people say your property is worth

-         Websites that contain comparable sales

The New York Times

Program will pay homeowners to sell at a loss
In an effort to end the foreclosure crisis, the Obama administration has been trying to keep defaulting owners in their homes.  Now it will take a new approach: Paying some of them to leave.

To read the full story, please click here.

Los Angeles Times

Many borrowers in default stay put as lenders delay evictions
Despite being months behind, many strapped residents are hanging on to their homes, essentially living rent-free.  Pressure on banks to modify loans and a glut of inventory are driving the trend.

To read the full story, please click here.

The Wall Street Journal

What home sellers don’t tell buyers
As buyers ease back into the battered real-estate market, they’re often hitting a stumbling block:  Fibbing by home sellers.  Buyers should do their own due diligence and not rely on agents and sellers.

To read the full story, please click here.

To qualify, the home must be a principal residence and must be selected from Freddie Mac’s HomeSteps Web site (www.homesteps.com/homeshoppers.htm) for its foreclosed properties. Loans must close by year’s end.  The HomeSteps properties also include two-year warranties on major appliances and electrical, plumbing, and air-conditioning and heating systems.

Fannie Mae’s HomePath program (www.homepath.com) is an ongoing program and offers more incentives than Freddie Mac’s.  Through participating lenders, Fannie will offer mortgages to buyers who make a down payment of 3 percent.  The buyers do not have to secure private mortgage insurance, a common practice with nearly all lenders.  Home buyers also can negotiate for Fannie Mae to offer closing-cost assistance.  Unlike Freddie Mac’s program, Fannie’s assistance level is not capped.  Under the HomePath program, the average participating homeowner has received payments equivalent to 3.75 percent of the loan’s value.

To read the full story, please click here:

http://www.nytimes.com/2009/10/11/realestate/11mort.html?_r=1&ref=realestate