RISMEDIA, November 18, 2009—Aided by the home buyer tax credit, the outlook for housing and the economy appears headed for a sustainable recovery, according to the National Association of Realtors®.
Lawrence Yun, NAR chief economist, said the projections are enhanced by a tax credit expansion to more home buyers through the middle of 2010. “Given the success of the first-time buyer tax credit to date, and the need for qualified buyers to continue to absorb inventory that will include additional foreclosures over the coming year, we are hopeful about the impact of the expanded tax credit because it will stabilize home prices,” he said. “In fact, the credit is working better than first projected – it now looks like we’ll have 2.3 to 2.4 million first-time buyers this year.”Read more: http://rismedia.com/2009-11-17/housing-and-economy-headed-for-sustainable-recovery-first-time-homebuyers-lead-the-way/#ixzz0XFZ1wqQg
Wednesday, November 18, 2009
Sunday, November 1, 2009
Big Rebound in Existing-Home Sales Shows First-Time Buyer Momentum
RISMEDIA, October 31, 2009—Existing-home sales bounced back strongly in September with first-time buyers driving much of the activity, marking five gains in the past six months, according to the National Association of Realtors®. Existing-home sales–including single-family, townhomes, condominiums and co-ops–jumped 9.4% to a seasonally adjusted annual rate of 5.57 million units in September, continued...http://rismedia.com/2009-10-25/big-rebound-in-existing-home-sales-shows-first-time-buyer-momentum/#ixzz0VQQQc6bc
Wednesday, October 28, 2009
Top Ten Safest Cities
By Marty Cox
Oct 27, 2009
Minneapolis tops the safest cities from Forbes in 2009. The other cities that were in the Forbes' safest city top five were Milwaukee, Portland, Boston and Seattle. The magazine has pictures and video here adding "These metros have the lowest rates of violent crime, workplace deaths, fatal crashes and natural disasters."According to the release, Forbes.com based its rankings on a study of the nation’s top 40 metropolitan areas’ 2008 workplace death rates from the Bureau of Labor Statistics; 2008 traffic death rates from the National Highway Traffic Safety Administration; and natural disaster risk, using rankings from green living site SustainLane.com.
For the list...... http://www.nationalledger.com/ledgerdc/article_272628711.shtml
Oct 27, 2009
Minneapolis tops the safest cities from Forbes in 2009. The other cities that were in the Forbes' safest city top five were Milwaukee, Portland, Boston and Seattle. The magazine has pictures and video here adding "These metros have the lowest rates of violent crime, workplace deaths, fatal crashes and natural disasters."According to the release, Forbes.com based its rankings on a study of the nation’s top 40 metropolitan areas’ 2008 workplace death rates from the Bureau of Labor Statistics; 2008 traffic death rates from the National Highway Traffic Safety Administration; and natural disaster risk, using rankings from green living site SustainLane.com.
For the list...... http://www.nationalledger.com/ledgerdc/article_272628711.shtml
Tuesday, October 27, 2009
Vote on homebuyer tax credit could come soon...
Dueling proposals will be debated in Senate over $8,000 per buyer subsidy
Associated Press
updated 3:33 p.m. PT, Mon., Oct . 26, 2009
WASHINGTON - Top Democrats in the Senate are pressing a plan that would extend a popular tax credit for first-time homebuyers but gradually phase it out over the course of next year.
The proposal, by Majority Leader Harry Reid, D-Nev., and Senate Finance Committee Chairman Max Baucus, D-Mont., would extend the $8,000 tax credit — which expires Nov. 30 — through March 31. Its value would drop by $2,000 for each of the subsequent three quarters of 2010.
The plan, which could face a vote in the Senate this week, appears aimed at countering a far more generous $17 billion bipartisan plan that would extend the $8,000 credit through June 30, 2010, boost the income cap for eligibility and open the credit to all buyers, rather than first-timers. For more...http://www.msnbc.msn.com/id/33484381/ns/business-real_estate/
Associated Press
updated 3:33 p.m. PT, Mon., Oct . 26, 2009
WASHINGTON - Top Democrats in the Senate are pressing a plan that would extend a popular tax credit for first-time homebuyers but gradually phase it out over the course of next year.
The proposal, by Majority Leader Harry Reid, D-Nev., and Senate Finance Committee Chairman Max Baucus, D-Mont., would extend the $8,000 tax credit — which expires Nov. 30 — through March 31. Its value would drop by $2,000 for each of the subsequent three quarters of 2010.
The plan, which could face a vote in the Senate this week, appears aimed at countering a far more generous $17 billion bipartisan plan that would extend the $8,000 credit through June 30, 2010, boost the income cap for eligibility and open the credit to all buyers, rather than first-timers. For more...http://www.msnbc.msn.com/id/33484381/ns/business-real_estate/
Monday, October 26, 2009
Big Rebound in Existing-Home Sales Shows First-Time Buyer Momentum
RISMEDIA, October 26, 2009—Existing-home sales bounced back strongly in September with first-time buyers driving much of the activity, marking five gains in the past six months, according to the National Association of Realtors®. Existing-home sales–including single-family, townhomes, condominiums and co-ops–jumped 9.4% to a seasonally adjusted annual rate of 5.57
more to follow....http://rismedia.com/2009-10-25/big-rebound-in-existing-home-sales-shows-first-time-buyer-momentum/
more to follow....http://rismedia.com/2009-10-25/big-rebound-in-existing-home-sales-shows-first-time-buyer-momentum/
Monday, September 28, 2009
Existing-Home Sales Ease Following 4 Monthly Gains
RISMEDIA, September 28, 2009—Existing-home sales in August 2009 gave back some of their strong gain in July but remain above year-ago levels, according to the National Association of Realtors®. Existing-home sales- including single-family, townhomes, condominiums and co-ops- declined 2.7% to a seasonally adjusted annual rate of 5.10 million units in August from a pace of 5.24 million in July, but remain 3.4% above, continued... http://rismedia.com/2009-09-27/existing-home-sales-ease-following-4-monthly-gains/
Wednesday, September 16, 2009
Bernanke: Recession is Over, but Tough Times Will Linger
RISMEDIA, September 16, 2009—(MCT)—The deep recession that's gripped the U.S. economy by the throat since December 2007 is "very likely over at this point," Federal Reserve Chairman Ben Bernanke recently said. However, Bernanke painted a picture of an underperforming economy well into next year as he fielded questions after a speech at the Brookings Institution, a center-left research center in the nation's capital. Continued ...http://rismedia.com/2009-09-15/bernanke-recession-is-over-but-tough-times-will-linger/
Monday, June 29, 2009
New Guidelines Needed for Appraising Distressed Properties
RISMEDIA, June 25, 2009-Using foreclosed and distressed sales as comparables with appraisals on single-family homes without adequately reflecting the differences in the condition of the respective properties is needlessly driving down home values, according to the National Association of Home Builders (NAHB).
“Any home buyer can recognize the difference between a well-kept home and a distressed property that is damaged or not properly maintained. So it only makes sense that an appraiser should be required to consider the overall condition of a property and the specific factors related to a foreclosure or distressed property sale when selecting and adjusting the value of comparables,” said NAHB President Joe Robson, a home builder from Tulsa, Okla.
According to the NAHB, appraisers are often only required to conduct exterior inspections of properties that are being used as comparables because they are normally unable to enter these homes and examine their interiors. Too often, properties that have been subject to foreclosure or distressed sales have issues related to deferred maintenance or internal damage that an external inspection simply cannot reveal.
“While most appraisers do a fine job, there needs to be proper regulatory guidelines for those who use distressed or foreclosed properties as comparables when determining home values,” said Robson. “It is essential that appraisers have the proper experience and guidance to accurately assess values in distressed markets.”
In neighborhoods where comps include a large number of short sales or foreclosures, appraisers should have the option of expanding the geographic area or extending the time frame for eligible sales to get a more representative basket of the value of homes sold in the area, Robson added.
Currently, improper or insufficient adjustments to the comparable values of foreclosed and/or distressed homes often results in the undervaluation of new sales transactions.
“This practice must be corrected because it contributes to the continuing downward spiral in home prices, forestalling the economic recovery,” said Robson.
For more information, visit www.nahb.org.
RISMedia welcomes your questions and comments. Send your e-mail to: realestatemagazinefeedback@rismedia.com.
More real estate headlines on RISMedia.com:
“Any home buyer can recognize the difference between a well-kept home and a distressed property that is damaged or not properly maintained. So it only makes sense that an appraiser should be required to consider the overall condition of a property and the specific factors related to a foreclosure or distressed property sale when selecting and adjusting the value of comparables,” said NAHB President Joe Robson, a home builder from Tulsa, Okla.
According to the NAHB, appraisers are often only required to conduct exterior inspections of properties that are being used as comparables because they are normally unable to enter these homes and examine their interiors. Too often, properties that have been subject to foreclosure or distressed sales have issues related to deferred maintenance or internal damage that an external inspection simply cannot reveal.
“While most appraisers do a fine job, there needs to be proper regulatory guidelines for those who use distressed or foreclosed properties as comparables when determining home values,” said Robson. “It is essential that appraisers have the proper experience and guidance to accurately assess values in distressed markets.”
In neighborhoods where comps include a large number of short sales or foreclosures, appraisers should have the option of expanding the geographic area or extending the time frame for eligible sales to get a more representative basket of the value of homes sold in the area, Robson added.
Currently, improper or insufficient adjustments to the comparable values of foreclosed and/or distressed homes often results in the undervaluation of new sales transactions.
“This practice must be corrected because it contributes to the continuing downward spiral in home prices, forestalling the economic recovery,” said Robson.
For more information, visit www.nahb.org.
RISMedia welcomes your questions and comments. Send your e-mail to: realestatemagazinefeedback@rismedia.com.
More real estate headlines on RISMedia.com:
Friday, June 26, 2009
Have We Reached Bottom? 10 Factors to Consider
RISMEDIA, June 24, 2009-Historically, the value of real estate goes through cycles. Many factors affect the value of homes including the laws of “supply and demand.” From the Appraisal Institute, here’s a quick reference guide to some of the factors involved and advice on how to spot a turning point in the market:
1. A spike in local sales activity. A spike refers to a significant rise in the number of home sales (or values) in a local market area, which generally is measured month to month. A spike does not necessarily mean continued growth, i.e. it could be a one month phenomenon.
2. Higher asking and selling prices vs. appraisal value opinions for residential properties. Appraisers study the markets; they do not make the markets. When the data shows higher sale prices in comparable properties market value opinions will increase proportionally. Appraisers seek evidence of value but do not create the value. In time periods with low activity, evidence of any kind is difficult to find.
3. More activity at open houses. Open houses with five to eight attendees is considered average, so a dozen or more people attending an open house means buyer interest is picking up. Also, the mood of the attendees is important. Are they optimist and upbeat? Buyers interest alone does not always translate to effective purchasing power. If the number of buyers in the market increases but they do not have requisite down payments, the sales may still not occur.
4. Shorter marketing times. In some markets, houses have been up for sale for more than a year. In most balanced residential markets, properties that are priced competitively will typically sell in less than six months. If the Days On Market (DOM) is shortening, many practitioners will read an improvement in the market.
5. Reduced number of foreclosures and short sales. A reduction in these transactions commonly signals a more balanced market. If lenders are reluctant to foreclose because of an oversupply of inventory, they may choose to wait to repossess the properties, which could allow a spike in the number of foreclosures later despite a better market condition.
6. Stabilized employment. Stable or increasing employment rates provide the necessary confidence for potential buyers to invest in a home. Since most buyers rely on borrowed funds to make real estate purchases and borrowing money usually requires a source of repayment and that usually means jobs, an increase in this basic need, will enable more real estate sales.
7. Fewer buyer incentives and seller concessions. Seller-paid incentives or concessions are a sign of seller motivation. If there are fewer builders offering “free” upgrades and fewer sellers sweetening the deal with big screen TVs, it may be a sign of lessening supply and therefore a better market.
8. New construction starts. Most builders are quite attune to their markets and will not build new homes without a corresponding contract for sale or a perceived increase in demand. An increase in the number of building permits usually indicates higher demand and higher prices. If residential properties are selling for 25% less than they cost to build, only a few new homes will be built. It would be prudent to buy an existing home rather than build a new one for a much higher price.
9. “Move-up” buyers entering the market. More buyers willing to move to a larger or superior quality home indicates a healthy market. The lack of buyers at the lower end of the price range will have a chain reaction throughout the market. If a buyer for a high priced home has a lower priced home to sell first, the sale of the higher priced home may have to occur before the higher priced one can sell.
10. Apartments advertising renter specials - fewer renters in the market may indicate more people are moving into owner occupied homes or it could indicate a reduction in population. Lower population will cause an oversupply of housing which will oftentimes permeate throughout several markets.
1. A spike in local sales activity. A spike refers to a significant rise in the number of home sales (or values) in a local market area, which generally is measured month to month. A spike does not necessarily mean continued growth, i.e. it could be a one month phenomenon.
2. Higher asking and selling prices vs. appraisal value opinions for residential properties. Appraisers study the markets; they do not make the markets. When the data shows higher sale prices in comparable properties market value opinions will increase proportionally. Appraisers seek evidence of value but do not create the value. In time periods with low activity, evidence of any kind is difficult to find.
3. More activity at open houses. Open houses with five to eight attendees is considered average, so a dozen or more people attending an open house means buyer interest is picking up. Also, the mood of the attendees is important. Are they optimist and upbeat? Buyers interest alone does not always translate to effective purchasing power. If the number of buyers in the market increases but they do not have requisite down payments, the sales may still not occur.
4. Shorter marketing times. In some markets, houses have been up for sale for more than a year. In most balanced residential markets, properties that are priced competitively will typically sell in less than six months. If the Days On Market (DOM) is shortening, many practitioners will read an improvement in the market.
5. Reduced number of foreclosures and short sales. A reduction in these transactions commonly signals a more balanced market. If lenders are reluctant to foreclose because of an oversupply of inventory, they may choose to wait to repossess the properties, which could allow a spike in the number of foreclosures later despite a better market condition.
6. Stabilized employment. Stable or increasing employment rates provide the necessary confidence for potential buyers to invest in a home. Since most buyers rely on borrowed funds to make real estate purchases and borrowing money usually requires a source of repayment and that usually means jobs, an increase in this basic need, will enable more real estate sales.
7. Fewer buyer incentives and seller concessions. Seller-paid incentives or concessions are a sign of seller motivation. If there are fewer builders offering “free” upgrades and fewer sellers sweetening the deal with big screen TVs, it may be a sign of lessening supply and therefore a better market.
8. New construction starts. Most builders are quite attune to their markets and will not build new homes without a corresponding contract for sale or a perceived increase in demand. An increase in the number of building permits usually indicates higher demand and higher prices. If residential properties are selling for 25% less than they cost to build, only a few new homes will be built. It would be prudent to buy an existing home rather than build a new one for a much higher price.
9. “Move-up” buyers entering the market. More buyers willing to move to a larger or superior quality home indicates a healthy market. The lack of buyers at the lower end of the price range will have a chain reaction throughout the market. If a buyer for a high priced home has a lower priced home to sell first, the sale of the higher priced home may have to occur before the higher priced one can sell.
10. Apartments advertising renter specials - fewer renters in the market may indicate more people are moving into owner occupied homes or it could indicate a reduction in population. Lower population will cause an oversupply of housing which will oftentimes permeate throughout several markets.
Wednesday, June 3, 2009
Which States Will be Early Risers?
Bill Dedman, Investigative reporter, NEW YORK—
If you want to be in the right place when the recovery starts, that place may be in Colorado, Idaho, Oregon, Texas or Washington.
The recession didn't start at the same time in every state, and it won't end at the same time either. A new forecast from Moody's Economy.com predicts that jobs growth will return first in those five states, starting in the last quarter of this year. Four of those states benefit from strong high-tech industries, and the fifth, Texas, has a strong base of energy industries.
A second wave of jobs growth, in the first quarter of 2010, is predicted in seven states: Alabama, Georgia, Nebraska, New Mexico, North Carolina, North Dakota and South Dakota. Read on at... http://www.msnbc.msn.com/id/30991972/
If you want to be in the right place when the recovery starts, that place may be in Colorado, Idaho, Oregon, Texas or Washington.
The recession didn't start at the same time in every state, and it won't end at the same time either. A new forecast from Moody's Economy.com predicts that jobs growth will return first in those five states, starting in the last quarter of this year. Four of those states benefit from strong high-tech industries, and the fifth, Texas, has a strong base of energy industries.
A second wave of jobs growth, in the first quarter of 2010, is predicted in seven states: Alabama, Georgia, Nebraska, New Mexico, North Carolina, North Dakota and South Dakota. Read on at... http://www.msnbc.msn.com/id/30991972/
Thursday, May 21, 2009
Buyer Interest in Foreclosures Spikes, Says Survey
RISMEDIA, May 21, 2009-According to the results of a new survey from Harris Interactive, there is a notable gain in consumers’ willingness to buy foreclosed properties, with 55% of U.S. adults indicating that they are at least somewhat likely to consider purchasing a foreclosed home in the future, compared to the 47% of U.S. adults who indicated the same in November 2008. The tracking survey was conducted on behalf of national real estate search engine, Trulia.com, and RealtyTrac, an online marketplace for foreclosure properties. For more of the story...http://rismedia.com/2009-05-20/buyer-interest-in-foreclosures-spikes-says-survey/
Tuesday, May 19, 2009
Distressed Properties and First-Time Home Buyers - The Recipe for Real Estate Recovery?
RISMEDIA, May 19, 2009-(MCT)-Value-conscious, first-time buyers have become key to the housing market’s recovery, and they are snapping up priced-right foreclosures despite the warts-and-all, sold-as-is condition of the properties. Half of the sales made in the year’s first quarter were to first-time buyers and almost half of all these sales were distressed properties, the National Association of Realtors reported. Distressed properties include foreclosures and short sales, which are private transactions in which a homeowner sells the property for less than the amount owed on a mortgage. For the rest of the story... http://rismedia.com/2009-05-18/distressed-properties-and-first-time-home-buyers-the-recipe-for-real-estate-recovery/
Thursday, April 30, 2009
Buying Foreclosed Homes: Deal or No Deal?
RISMEDIA, April 27, 2009-
HouseMaster®, a home inspection franchisor, reports there are abundant opportunities for qualified homebuyers in the current real estate market - triggered by a 28% rise in foreclosure activity from last year. While President Obama’s $75 billion loan modification and refinancing Homeowner Affordability and Stability Plan will help as many as 4 million struggling homeowners, it won’t save everyone from foreclosure resulting in prime deals for qualified homebuyers. See more...http://rismedia.com/2009-04-26/buying-foreclosed-homes-deal-or-no-deal/
HouseMaster®, a home inspection franchisor, reports there are abundant opportunities for qualified homebuyers in the current real estate market - triggered by a 28% rise in foreclosure activity from last year. While President Obama’s $75 billion loan modification and refinancing Homeowner Affordability and Stability Plan will help as many as 4 million struggling homeowners, it won’t save everyone from foreclosure resulting in prime deals for qualified homebuyers. See more...http://rismedia.com/2009-04-26/buying-foreclosed-homes-deal-or-no-deal/
Thursday, April 23, 2009
Check out these 10 common pitfalls of first-time
By SmartMoney
The declining home values that are plaguing homeowners are just one of the factors creating an opportunity for prospective homebuyers.Standard & Poor's latest Case-Shiller index, which tracks home prices across 20 major U.S. cities, reported that values dropped 19% in January from a year earlier.Those depressed values, combined with near-record-low mortgage rates and government incentives (an $8,000 first-time homebuyers' tax credit included in the stimulus bill), are luring more first-time home buyers into the market. Indeed, a recent Century 21 Real Estate survey found that more than three-quarters (78%) of potential first-time homebuyers say now is a good time to buy.If you agree, be aware that buying a home comes with plenty of potential missteps. Here are 10 all-too-common mistakes first-timers make. See the list...
http://realestate.msn.com/article.aspx?cp-documentid=18962600
By Lisa Scherzer, SmartMoney
The declining home values that are plaguing homeowners are just one of the factors creating an opportunity for prospective homebuyers.Standard & Poor's latest Case-Shiller index, which tracks home prices across 20 major U.S. cities, reported that values dropped 19% in January from a year earlier.Those depressed values, combined with near-record-low mortgage rates and government incentives (an $8,000 first-time homebuyers' tax credit included in the stimulus bill), are luring more first-time home buyers into the market. Indeed, a recent Century 21 Real Estate survey found that more than three-quarters (78%) of potential first-time homebuyers say now is a good time to buy.If you agree, be aware that buying a home comes with plenty of potential missteps. Here are 10 all-too-common mistakes first-timers make. See the list...
http://realestate.msn.com/article.aspx?cp-documentid=18962600
By Lisa Scherzer, SmartMoney
Tuesday, March 24, 2009
To Appreciate the Appreciation in Real Estate, Long-Term
Home-selling Strategies by Chris Kaucnik
RISMEDIA, March 2, 2009-What are the general principles we all learned about long-term investing? Research and plan. Buy low, sell high. Keep some liquid assets for short-term emergencies. These basic tenets still apply, at least in real estate.
Your buying clients need to understand that what happened in real estate was a bubble, not something permanent. It was created by removing all barriers to owning real estate. Getting a mortgage became too easy. Interest rates were at historical lows. Appreciation skyrocketed in many markets. The rush to riches through real estate came to an end because bubbles eventually burst. Now we are left with a buyer’s market, instead of a seller’s.
What can you do to show potential buyers that this is the time to buy real estate? Many buyers just don’t understand the market because there are a few more unknowns than they are used to considering.
They may be afraid we haven’t hit the true bottom yet, or even that real estate may no longer be a great investment. They may think they can’t get a mortgage. But whatever the reason, buyers need to know that, like the stock market, no one can predict the exact bottom, and buying now is advantageous due to very low pricing and interest rates, plus many sellers’ incentives.
They need your expertise to help them recognize the indicators that show the time is right to buy in your local market. Maybe it’s a reduction in foreclosures or inventory, or an influx of foreign investors, but regardless, your assessment of the market is paramount to their decision. You can prove to them real estate is a great investment by the historical data below:
National data:
1970-1979 = 142% appreciation
1980-1989 = 52% appreciation
1990-1999 = 45% appreciation
2000-2008 = 42% appreciation
Source: The National Association of Realtors
Like every investment, there are ups and downs. Even if they buy now and it isn’t the exact bottom, the resulting appreciation in years to come will clearly compensate. Now is the time to gain by buying during the low period. Patience and planning are true virtues in real estate. Where else can clients earn these percentages on money that is primarily not theirs and get a tax deduction? What are their alternatives-to miss a great opportunity or buy high?
Chris Kaucnik is marketing director for Home Warranty of America, Inc.
RISMEDIA, March 2, 2009-What are the general principles we all learned about long-term investing? Research and plan. Buy low, sell high. Keep some liquid assets for short-term emergencies. These basic tenets still apply, at least in real estate.
Your buying clients need to understand that what happened in real estate was a bubble, not something permanent. It was created by removing all barriers to owning real estate. Getting a mortgage became too easy. Interest rates were at historical lows. Appreciation skyrocketed in many markets. The rush to riches through real estate came to an end because bubbles eventually burst. Now we are left with a buyer’s market, instead of a seller’s.
What can you do to show potential buyers that this is the time to buy real estate? Many buyers just don’t understand the market because there are a few more unknowns than they are used to considering.
They may be afraid we haven’t hit the true bottom yet, or even that real estate may no longer be a great investment. They may think they can’t get a mortgage. But whatever the reason, buyers need to know that, like the stock market, no one can predict the exact bottom, and buying now is advantageous due to very low pricing and interest rates, plus many sellers’ incentives.
They need your expertise to help them recognize the indicators that show the time is right to buy in your local market. Maybe it’s a reduction in foreclosures or inventory, or an influx of foreign investors, but regardless, your assessment of the market is paramount to their decision. You can prove to them real estate is a great investment by the historical data below:
National data:
1970-1979 = 142% appreciation
1980-1989 = 52% appreciation
1990-1999 = 45% appreciation
2000-2008 = 42% appreciation
Source: The National Association of Realtors
Like every investment, there are ups and downs. Even if they buy now and it isn’t the exact bottom, the resulting appreciation in years to come will clearly compensate. Now is the time to gain by buying during the low period. Patience and planning are true virtues in real estate. Where else can clients earn these percentages on money that is primarily not theirs and get a tax deduction? What are their alternatives-to miss a great opportunity or buy high?
Chris Kaucnik is marketing director for Home Warranty of America, Inc.
Friday, February 6, 2009
7 Cities Primed for a Rebound - Home Prices: Now for the Good News
A look at sever metropolitan areas where home prices are on their way back up. From smartmoney.com.
by Brad Reagan and Elizabeth O'Brien
When the headlines about the housing market are apocalyptic, the last thing a homeowner wants to do is sell. But a funny thing happened to Jeff and Jennifer Boyd when they put their three-bedroom house in Philadelphia's Graduate Hospital district on the market this summer: They turned a profit. Just 45 days after the listing went up, a buyer snapped up the property for $555,000 -- $29,000 more than the Boyds paid in 2006. "We were pretty hesitant, knowing what the market is like," says Jeff. "But a few weeks later, it was gone."
The rest of the story... http://www.househuntnews.com/marketing/consumer/feb09/03.htm
by Brad Reagan and Elizabeth O'Brien
When the headlines about the housing market are apocalyptic, the last thing a homeowner wants to do is sell. But a funny thing happened to Jeff and Jennifer Boyd when they put their three-bedroom house in Philadelphia's Graduate Hospital district on the market this summer: They turned a profit. Just 45 days after the listing went up, a buyer snapped up the property for $555,000 -- $29,000 more than the Boyds paid in 2006. "We were pretty hesitant, knowing what the market is like," says Jeff. "But a few weeks later, it was gone."
The rest of the story... http://www.househuntnews.com/marketing/consumer/feb09/03.htm
Thursday, February 5, 2009
What were we Thinking?
Read this slowly. Let it sink in. Absolutely The Funniest Joke Ever!
ON US!!
Does anybody out there have any memory of the reason given for the
establishment of the DEPARTMENT OF ENERGY during the Carter
Administration? Anybody? Anything? No? Didn't think so.
Bottom line . . we've spent several hundred billion dollars in support
of an agency the reason for which not one person who reads this can
remember. Ready?
It was very simple, and at the time everybody thought it very
appropriate.
The Department of Energy was instituted 8-04-1977 TO LESSEN OUR
DEPENDENCE ON FOREIGN OIL. HEY, PRETTY EFFICIENT, HUH? AND NOW IT'S
2008, 31 YEARS LATER, AND THE BUDGET FOR THIS NECESSARY DEPARTMENT IS
AT $24..2 BILLION A YEAR, THEY HAVE 16,000 FEDERAL EMPLOYEES, AND
APPROXIMATELY 100,000 CONTRACT EMPLOYEES AND LOOK AT THE JOB THEY HAVE
DONE! THIS IS WHERE YOU SLAP YOUR FOREHEAD AND SAY 'WHAT WAS I
THINKING?'
Ah yes, good ole bureaucracy. And now we are going to turn the Banking
system over to them? And the automobile industry?
God Help us.
ON US!!
Does anybody out there have any memory of the reason given for the
establishment of the DEPARTMENT OF ENERGY during the Carter
Administration? Anybody? Anything? No? Didn't think so.
Bottom line . . we've spent several hundred billion dollars in support
of an agency the reason for which not one person who reads this can
remember. Ready?
It was very simple, and at the time everybody thought it very
appropriate.
The Department of Energy was instituted 8-04-1977 TO LESSEN OUR
DEPENDENCE ON FOREIGN OIL. HEY, PRETTY EFFICIENT, HUH? AND NOW IT'S
2008, 31 YEARS LATER, AND THE BUDGET FOR THIS NECESSARY DEPARTMENT IS
AT $24..2 BILLION A YEAR, THEY HAVE 16,000 FEDERAL EMPLOYEES, AND
APPROXIMATELY 100,000 CONTRACT EMPLOYEES AND LOOK AT THE JOB THEY HAVE
DONE! THIS IS WHERE YOU SLAP YOUR FOREHEAD AND SAY 'WHAT WAS I
THINKING?'
Ah yes, good ole bureaucracy. And now we are going to turn the Banking
system over to them? And the automobile industry?
God Help us.
Monday, January 26, 2009
We’re All in This Together - What’s Good for Homeowners Is Good for America
Commentary by Ralph R. Roberts
RISMEDIA, January 26, 2009-Over the past year or so, the American homeowner has taken it on the chin-a one-two-three punch that has knocked many out of their homes and threatens to do the same to millions more. First, the housing bubble burst, stripping billions in equity. Tight credit landed the next blow, preventing homeowners from refinancing their way out of trouble. Finally, a severe economic downturn has led to record job losses, making it difficult or impossible for many families to keep their homes even if they otherwise would be able to negotiate a loan modification with their lender....for more http://rismedia.com/wp/2009-01-25/were-all-in-this-together-whats-good-for-homeowners-is-good-for-america/
RISMEDIA, January 26, 2009-Over the past year or so, the American homeowner has taken it on the chin-a one-two-three punch that has knocked many out of their homes and threatens to do the same to millions more. First, the housing bubble burst, stripping billions in equity. Tight credit landed the next blow, preventing homeowners from refinancing their way out of trouble. Finally, a severe economic downturn has led to record job losses, making it difficult or impossible for many families to keep their homes even if they otherwise would be able to negotiate a loan modification with their lender....for more http://rismedia.com/wp/2009-01-25/were-all-in-this-together-whats-good-for-homeowners-is-good-for-america/
Friday, January 16, 2009
Homeowners urged-Sell Short, Refinance, But try Not to Lose Your Home
RISMEDIA, January 16, 2009—(MCT)—Every day, more people slip into the foreclosure whirlpool and spiral downward toward the day they may have to leave their home. What should you do if you are on the verge of getting a foreclosure notice? Continued
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