Housing Tax Incentives Benefit Younger Households Most

RISMEDIA, September 29, 2010—New research from the National Association of Home Builders (NAHB) reveals that the benefits of housing-related tax deductions, such as the mortgage interest deduction, generally decline in value as individuals age. Using Internal Revenue Service Statistics of Income (SOI) data, NAHB was able to report for the first time how various tax deductions are used by different age groups. The analysis demonstrates that the biggest beneficiaries are younger households, who typically have large mortgages, small amounts of equity in their homes and growing families. more...

How Large is the Shadow Inventory of Homes?

By Nick Timiraos
A new report estimates that the “shadow inventory” of potential foreclosures and other distressed sales will peak this year at 4.7 million units, a roughly 10 month supply of homes.
But that supply could shrink to as low as 4 million units or swell to as high as 5.6 million homes depending on how many delinquent loans actually move through to foreclosure, according to a report released Monday by John Burns Real Estate Consulting of Irvine, Calif.
The report also estimates that the distressed share of home sales will rise to around 40% of all home re-sales through 2012. And that the shadow inventory of distressed loans will stay at elevated levels through 2016. more...

Your Listing Expired and You've got some Decisions to make

by, Tish Loyd, Wrightsville Beach, NC



Mr. & Mrs. Seller; Your listing expired and you've got some decisions to make.
1. Do you re-list with the same agent?
2. Do you lower the price?
3. Do you just hold off and see if the market improves?
4. Do you meet with any of the Agents who are calling and sending cards and letters telling you that they can sell your house?

Well, maybe, maybe, maybe and maybe.

1. If you have an Agent you like and whom you feel is doing everything in their power to sell your house, then stay with them. Of course, if they were doing everything they should, your listing should not have expired. Unless you both chose to let it.
2. If you had no offers, or low offers, then you most likely need to lower the price. Homes ARE SELLING -- if they are priced right and show well. You did make those changes your Agent suggested, right?
3. If you can wait, then this is not a bad option. This is a tough market, but it is improving. A month or so off the market could very well be just what your house needs to sell. Of course, interest rates are extraordinary right now -- I'd hate to see you miss out on a buyer that is taking advantage of the historically low interest rates.
4. If you were unhappy with the Agent you were previously listed with, then by all means, meet with other Agents. See what they can offer which is different than what you were getting. Sometimes a new marketing plan, along with a price adjustment is just what the doctor ordered. Beware of any Agent who tells you they have a buyer for your house, if you'll just list with them. If they really had a buyer, they would have already brought you an offer. Trust me, if I have a qualified buyer, I am getting them under contract -- not waiting to get a listing I can sell myself.
This is a tough market. Homes are taking longer to sell. But they ARE SELLING , many markets are improving and interest rates are as low as we're likely to see in our lifetimes. Your house CAN sell. Find a REALTOR® you trust, take their advice about pricing and staging, keep your house in showing shape and make it as accessible for showings as possible. That's what we in the Industry call, A WINNING COMBINATION!