Real Estate Information

Can we stop Home Owners from Walking!
U.S. banks are looking at how to ease terms for distressed homeowners on home-equity loans and other second-lien mortgages. Too many people are walking away from their homes because they owe more than it is worth. Real Estate will come back but I believe the consumer has lost confidence in it and are concerned it will take too long to ketchup.
http://bit.ly/cXwF8b

Fannie Needs Another $15.3 billion
Fannie Mae said last week that it needs another $15.3 billion in bailout money from the federal government. Continuing problems with Fannie Mae's mortgage portfolio are still straining its finances as some 5.38 percent of its single-family loans were more than 90 days delinquent.
http://tinyurl.com/yfwra8x

This new program starting in April, will allow owners to sell for less than they owe and will give them cash to speed them on their way, is one of the administration’s most aggressive attempts to grapple with a problem that has defied solutions. What will they come up with next? http://www.nytimes.com/2010/03/08/business/08short.html

I believe these are all good signs and will be setting a good foundation for an upswing in real estate. Once unemployment starts going down we will be well on out way. The United States economy grew at its fastest pace in yearss at the end of 2009, even as businesses resisted hiring and continued to do more with less. In addition, the growth rate was the fastest since the third quarter of 2003, when the economy grew at a rate of 6.9 percent. Gross domestic product (G.D.P.) is equal to the market value of goods and services produced by labor and property in the United States, regardless of nationality. http://bit.ly/dgROia

Home Buyers have less than four months to take advantage of the U.S. Homebuyer Tax Credit you must be under contract by the April 30 deadline.

In November, Congress extended the tax credit and amended it to include some repeat buyers in hopes of securing a more sustained real estate upswing. However, the narrow window suggests none of us should count on another extension.

As the new deadline looms, first-timers who were excluded from the $8,000 credit by the old income limits will be looking to join the action, too.

We cannot count on any extensions this time so this is the time to act.  

Home Buyers have less than four months to take advantage of the U.S. Homebuyer Tax Credit you must be under contract by the April 30 deadline.

In November, Congress extended the tax credit and amended it to include some repeat buyers in hopes of securing a more sustained real estate upswing. However, the narrow window suggests none of us should count on another extension.

As the new deadline looms, first-timers who were excluded from the $8,000 credit by the old income limits will be looking to join the action, too.

We cannot count on any extensions this time so this is the time to act.  

They are leaving the deal behind not because they can’t pay but because they don’t want to. A study by researchers at Northwestern University and the University of Chicago concludes that as many as 25 percent of defaults are driven by strategy, not necessity.

I’m surprised that the percentage is not higher. The government is trying to help those that want to save their home but many do not want the help. When I was in Real Estate in Florida Buyers where paying crazy prices for homes and resold them months later for thousands more. Now that real estate has turned they are walking away. Many of these people made lots of money flipping properties for year but know are not willing to take a loss. That seems to be the American way perhaps the Government can come up with a way to subsidize them for their loss… Just Kidding! http://bit.ly/6MlLNY

Can the government really help home owners from foreclosure? The guidelines create a path for a short-sale or deed-in-lieu of foreclosure for eligible borrowers for whom loan modification isn't a viable option. HAFA is a complex program, with 43 pages of guidelines and forms so. After reading the guidelines I find it very confusing but it does appear to have some meat in it, check it out. http://bit.ly/6hDrqb

Home sales and new home construction, at least according to the Fed, are likely to stimulate the economy in 2010. Feds are predicting that housing sales will jump by 11 percent, even in the face of a slow recovery for the economy as a whole. With home sales surging for the second month in a row in October, climbing to the highest level in over two years as first-time buyers rushed to take advantage of what was expected to be an expiring tax credit. Home sales nationwide are now up nearly 36 percent from their bottom in January.

I find all this very exciting however I am not sure if real estate can turn that quickly on its own without another government handout. http://bit.ly/6qlNpJ

About one in seven American households with mortgages is behind on payments or in foreclosure, according to new data from the Mortgage Bankers Association--up from about one in 10 a year ago. http://bit.ly/4rXhip http://bit.ly/1qyK0E