Does anybody have the connections to know what the government will do after the $ 8000 tax credit will expire on Nov 30 ,2009..
I believe this incentive helped to get several renters to purchase a house and that is why the lower end of the housing market was revived and is doing relatively well.
There are many buyers who put an offer in for a bankowned property and might still be waiting on Nov.30,2009 for an answer from the bank. One of my clients is waiting since May ,after we put in a very reasonnable offer.
The bank is actually loosing out, since the appraisal value for similar units is now 15 % lower than what we offered.
I expect that the government will create either an extension of the present programm or ,what I hope, will come with a new incentive that will stimulate the housing sale in the segment that really needs help, the houses that are above the price range that the typical renters can afford.
I like to see a $15,000 income tax deduction for anyone that buys a house. This would work for those people that actually pay tax and might still be paying their mortgage 5 years from now.
This might revive the second home market as well as enticing people to trade tomore expensive homes.
We have experienced an obvious result of the $ 8000 stimulus programm.Many renters bought a home ,mainly in the below $ 200,000 range .
It will be interesting to see in about two years how many of those buyers are still in their house.I expect another foreclosure wave.
As I have expressed before, this stimulus should have gone towards selling additional homes to people that can afford to buy .I know this is contra what our present ruling class thinks , because they will see it as helping the rich .Let these so called rich , I would call them self supporting and financially stable people , buy a second or third home for them selves or for their kids.
I also propose that we should, for a limited time, maybe 2 years, make remodelling ,renovation and major maintenance of residential homes tax deductible. as long as the work is done by certified contractors.
This might be a great stimulus because most of this work can not be outsourced to China and it will emply local craftsmen .
In this time it is easy to sell the cheap houses but impossible to sell the higher end because of very high rates on jumbo loans , tighter restrictions on condo purchases ,etc. Lets get a tax credit that works to get the higher end houses sold.Make the loss on a house tax deductible and dont tax the" forgiveness "amount.
I am not a politician, just trying to help our nation to get out of this recession.
About 2 years ago now, we went to Europe as the first team of realtors representing the United States in an unprecedented move to meet european buyers head on. The show, in Utrecht holland, was part of a 2 day International exposition at the Second Home International Exposition.
Buyers were eager for information and we made it readily available for them.
The premise of the show was to show them the bargains to be had in Florida. When the prices in florida were high 2 years ago, Northern Europeans were still used to paying even more for housing and living expenses. Plus the euro was higher compared to the U.S so this allowed them to get more for the buck when purchasing in florida. Right now similar conditions are on the books and represents yet again a great time for them to buy.
When we came back from the show, we had landed 39 solid prospects. You just can't sit there and wait for these potential buyers to come to you. So my advise is get out there and meet the buyers on their own turf.
We hope this lights a fire in some people to get out there in this tough market. If anyone is interested in doing a future exposition with us, let me know. We try to do this several times a year for both canadian and european buyers but we're always interested to meet new demographics.
I just had to share this with you. It is an incredible inspirational story, narrated by an incredibly gifted person. You may not think so at first and even ask yourself, why would i want his life, but as you watch more of the video, you will understand the power he has as you find yourself slowly finding joy for life and for others whose lives have not been fulfilled. Sometimes those around you, even those who bring you these stores are struggling to find themselves. I hope this story helps give you all some perspecitve on life and how much we have to be thankful for, so long as we don't give up living. Believe me it's easier said than done, but you will never know the beauty that awaits if you stop looking at what you have.
This is not just about the power of thinkng positive, it's about giving yourself a goal and furthermore reaching it and in doing so you will find the meaning of life, for yourself as you see others around you looking up to you based on what you have accomplished in your life, which to others may seem like a struggle, but to you it is all you know and so you carry on to touch others. If you can relate to this person and his life, then you will be able to understand your clients needs' which comparably will look minimal.
I think it's good to look at these kinds of stories once in a while to make us all push harder to achieve our goals and make us less depressed if we fail. Hopefully this story inspired you as much as it did for me
I have some concerns about the proposed plan by the Obama team. While I agree that many projects that they are proposing are useful, I have serious doubt how it will impact the USA economy, unless certain limitations/regulations/restrictions are put in place.
I don't have the time to point it all out but will give some examples.
-Obama wants to set up a national database of all residents where all their medical records are kept. If this is offered to a private company the restriction should be that it only can be done in the USA and not outsourced to India ,what would be the first thing a private company would do to maximize the profits.I don't know if the ACLU can live with this plan either .It looks to me worse than the tapping of international Alkeida calls/e'mails where the Libs had so much problems with.
-Obama wants to upgrade our utilities and that is a good idea.The problem is that this for a large part requires , lots of labor and qualified technicians working outside in hot or cold weather.Where do we find the people to do that.Most likely in Mexico.Most workers in the USA ,can't or don't want to do this work with their often unutilized college degrees. Maybe he plans to open the prisons like Stalin did to upgrade the Soviet infrastructure.
The key is that before they make any decision, study the impact and make sure that we have indeed the resources other than borrowed,freshly printed dollars .Maybe for some of these project we have to set up vocational schools first ,and train the workers to do these projects.
While having a short sleepless moment and thinking about Obamas task for today to get the economy going, i came up with the following idea.
We have high unemployment ( !0 % ) that needs to be solved with work and business activities in the states. All the government ideas to give every one a few hundred $$$ will not work except for Walmart and China where most of the money goes. The middle class will just use it to pay off some debt.
I propose we make 10 % of the purchase price of a home tax deductible up to a max. of $ 50,000 for a $500,000 home. I was also thinking to make this higher for new construction, maybe 15 %. This would be valid for a limited time, case in point; 2009. This can be implemented very quickly.
Home construction,remodelling,interior decorating is a major stimulus for the economy as we saw in the early years of this decade.
Maybe a simular system can be designed for domestic produced cars. But I am not sure about political problems with Japan, Korea and Germany.
I did not do a reality check on these numbers ,maybe one of the accountants that see this blog can do that for me.
Everytime when there is another Natural Disaster like the one we just had in Texas, I realize how good we have it here in Pennsylvania. I lived in Texas (Hurricanes), Ohio (Tornados) and California where we had several serious earth quakes and chances for Sunamis. All those issues seem to make the little snow and some hot and humid days in Lancaster County, PA, very benign.
I understand the pleasure of a nice climate, but after seeing the images on TV and on the Internet, I decide every time that the other places are great for vacations , but not as a place of residency for me and my family.
We're also have some of the best school districts in Pennsylvania.Hempfield and Manheim Township are know for their quality education, but there are several others that are just as good. Crime is relatively low, and with all these things combined, this makes Lancaster, PA one of the better places to live in the United States.
Most people have no idea that L.N.G is widely used in Europe to Power Cars. This is very popular in the Netherlands for older, Big American Cars. If the car is 20 years old you don't have to pay tax (approx. 1000/yr) for the car and since L.N.G is very cheap, you can drive vey economically. Nearly every gas station in Europe currently sells L.N.G.
A new car with an L.N.G System will have to pay the high tax and it will only pay out if you drive a lot, like Taxis.
I believe this will become popular in the USA and can see that people will have their own LNG Tank at home and of course at Gas Stations.
This will be a great solution for places like CAlifornia since the Emission rates are a lot less when compared with Gasoline.
The impact for real estate might be on long commutes and High gas prices will become less of a factor. Owning an L.N.G Tank for heating/cooling/ standby generators may have a second positive affect.
Status: Available Listing ID # 11348764 Price: $250,000 - $1,200,000
Year Built: 2007
Property Type: Investment Architecture: OTHER Location: Lancaster, PA
THE PLACENCIA CONDOS AND RESIDENCES
Placencia, Belize: A favorite with honeymooners, scuba divers and nature lovers. It is now quickly being discovered by cruise ship passengers from all over the world. Prices for condos, building lots and residences are still reasonable, but this is changing quickly. High quality condos and building lots for residences directly on the beach are available in PLACENCIA. Visit www.placencia-realestate.com. Call Everard 717.816.4685 and ask about an inspection trip.
Status: Available Listing ID # 10366640 Price: $375,000 - $875,000
Year Built: 2008
Property Type: Investment Architecture: Ocean View Location: Lancaster, PA
ARA MACAO RESORT AND MARINA
Beautiful condos, directly on the beach of the Carribean sea in southern Belize. The condos are presently being built and are now ready for potential buyers' inspection. Excellent for permanent or part time living. Also well suited as a managed investment property that offers the potential for an excellent return on your investment. For more info contact Everard Korthals 717.816.4685.
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
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