The market has changed significantly over the last 12 months forcing everyone in the buying, selling, and rental markets to re-evaluate what a good deal is, what a property is worth, what the rental value is, and how to price a property to sell quickly.
Get payday loans to prevent late fees and protect your credit when you absolutely can't make a mortgage payment.
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This video on the mortgage and foreclosure crisis just arrived from the California Reinvestment Coalition, a San Francisco-based umbrella group for consumer organizations. The point, I am told, is to put pressure on state and federal lawmakers to do more…
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This blog is mostly about residential real estate, but we’ve gotten a couple extensive reports the last two days from the brokerage firm Colliers International about trends in the region’s industrial and office real estate markets. Good hometown stuff here.It…
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Although many Republicans were against Bush signing off on a tax payer bail out, Bush did sign. This is one of those things that has critics on both sides. Those who are for it feel it doesnt go far enough in helping the tsunami of foreclosures we will see through 2010. Those against it feel the tax payer gets to pay for the excesses of the industry and thats not the American way. We pay to play and when we lose we lose….
The Housing Bill Highlights:
1. Relaxed lending standards will allow many owners to refi with lower cost Government owned mortgages. or renegotiate mortgages 2. FHA gets 300 billion in new money
3. Fannie Mae and Freddie Mac will get the financial supprot they need through a line of credit and maybe the US Govt will become an investor and by stock.
4. Stricter controls over Freddie and Fannie. They own or guarantee more than 50% of all mortgages and when you get that big, mismanagement can sink the boat.
5. Housing Tax Breaks: 15 billion for low income housing and mor
6. Tax Credit: Up to $7500 for first time buyers who purchase between April 19, 2008 and July 1, 2009
7. Foreclosure Counseling: $150 million to help owners headed for forcloesure. This money will provide for leagl services and for counseling.
The U.S. Senate is due to vote finally on Saturday to approve a major housing market rescue bill, including federal financial assistance for Fannie Mae and Freddie Mac. As of this writing, it has passed in committee paving the way for the final bill to become law. Well folks, its clear now that we will all own the problem. The Government is now the lender of last resort.
Thanks for Reading
Howard Bell
A web site of over 450 articles related to real estate focused primarily on property management.
http://yourpropertypath.blogspot.com/
Trade talk for the San Francisco real estate industry. Your source for property management tips, policies and market trends.
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San Diego and Sacramento counties had the distinct honors in the summer of 2006 to be the first in California to see sales prices dip below the same time a year earlier. Now here’s a wild story out of…
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Deadlines and commitments…now back to posting as the housing avalanche continues with one development after another. First, the story this morning by my colleague Mark Glover about Washington State revoking the business license of Roseville’s Paramount Equity Mortgage, Inc. Mark jumped…
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