Of course this needed to be extended, or there would be more foreclosures and bankruptcies. This will certainly encourage more short sales; help liquidate the distress inventory at a faster pace. Because of the huge shaddow inventory (loans 90 days late, loans having received Notice of Default (NOD), REO's not yet on the market) there may be another 5 years of this deleveraging process.

The Mortgage Debt Foregiveness Act is a real bonus for home owners as many of them refinanced the equity out of their homes during the 2002-2007 years. The economic stimulus created by home owners refinancing during those years was greater than the TARP stimulus in 2008 to bailout the United States Financial System. And now those folks have an opportunity to have their mortgage debt forgiven and not taxed as forgiven debt.

This is a huge bonus for homeowners unable to keep their homes because of financial issues. And this requires real estate agents to direct their education to a whole new level.

 

 

 

ARE HIGH REAL ESTATE TAXES IN YOUR MARKET AREA AFFECTING PRICES?
12/08/2012
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How high is too high? If real estate taxes in your market were 2-3% of market value, would that keep a lid on real estate prices, sales, or market demand? Are real estate prices in your market area being affected by high real estate taxes? We… more
ARE YOUR COOK COUNTY, IL PROPERTY TAXES TOO HIGH? HOW DO YOU KNOW?
09/16/2012
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If you live in Cook County, are your property taxes too high? Cook County has the largest population in the State of Illinois and includes the City of Chicago. Until recently, it has been difficult to determine your home's value based on it's tax… more
Have You Ever Completed a transaction with Owner Financing?
01/23/2012
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If you could offer owner financing on your listings or provide it for your buyer clients who may not qualify for conventional financing, how much could you increase you business? -----------------------------------------------------------… more
Do You Have a Need for Alternative Types of Financing?
01/19/2012
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With the financial set backs many have suffered in today's economy, how long will it take before these folke's "broken credit" gets fixed? Some of these have retrained and/or re-employed themselves with good incomes and cash in the bank. Aren't… more
COOK CO TAX BILLS ARE OUT AND DUE DEC 13. DID YOU GET AN INCREASE?
11/25/2010
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Your real estate tax bill likely shows increases in just about every category. Most real estate tax bills (2009 tax Yr) have increased somewhere in the vicinity of 10%. So tax bills that were $8, 000 are now $8, 800. Of course, we realize two… more
Are you reluctant to show a short sale?
11/07/2010
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With short sales becoming a larger portion of the real estate market, are you as an agent discouraging your buyers from considering them? If that is true, what needs to take place in order for you to recommend a short sale over other choices for… more
Chicago Second in Foreclosure Notices and Repossessions 10-28-10
10/28/2010
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Where is this leading? Foreclosure filings increased from last year in 133 of 206 metropolitan statistical areas tracked in the third quarter, or 65%, according to RealtyTrac. The Seattle area had the highest increase. There, foreclosure… more
Foreclosure Update October 28, 2010
10/28/2010
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3rd Quarter data alarming-- Foreclosure filings increased from last year in 133 of 206 metropolitan statistical areas tracked in the third quarter, or 65%, according to RealtyTrac. The Seattle area had the highest increase. There,… more
How Much Do You Trust Financial Reform?
05/31/2010
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Aren't we suspicious of finance reform? The reform package currently working its way thru Congress is already 1, 500 pages and some of it will affect real estate. We all have a stake in this and need to stand watch. As an example,… more
 
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Jim Holder,CDPE,SFR,ABR

Arlington Heights, IL

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RE/MAX at Home

Address: 3215 Algonquin Rd, Rolling Meadows, IL, 60008

Office Phone: (847) 255-1913

Cell Phone: (847) 217-4426

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