We're just into 2012 and already there's talk from Washington of a new program to "fix" the housing problem, with today's papers carrying a story about a modification of the Home Affordable Modification Act. While I've read conflicting reports its contents, it seems to focus on a refinancing plan to help people with good credit and current payments who are upside down on their current mortgages. Without getting into the specifics of the HAPA at this time, I couldn't help wondering how the previous plans had affected the housing market in Muncie and Delaware County, IN.

The previous federal stimulus programs were as follows.

2008-The Economic Stimulus Act of 2008- First-time homebuyers were offered a tax credit of up to $7500 as a no-interest loan to be repaid at $500/yr for 15 yrs.

2009-The American Recovery and Reinvestment Act of 2009 (ARRA)- First-time home buyers were offered a tax credit of up to $8,000 which did not have to be repaid. Non-first-time buyers were offered up to $6,500.

 2010- ARRA was extended to buyers under contract by May 31 and closed by Aug. 31.

Looking at sales and prices from 2006 -2011, I saw no significant effecStimulus Price Grapht on our market. Here's the data.Stimulus Sales Graph

 

 

 

 

 

Except for a property tax issue in Aug. of 2007, the sales and price increses reflect the normal seasonal cycle of our business. I'd be interested in hearing what effect the stimulus programs had on your markets. Maybe the 2012 plan will have positive results, but I doubt it. The only good thing is that given the current political climate, there's little chance anything will be passed.

Jim

 

2011 Market Report for Muncie and Delaware Co, IN
01/27/2012
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2011was a challenge for the real estate market in Muncie and Delaware Co., IN. Terrible weather depressed business in the first quarter of the year. Second quarter results were also quite disappointing with nearly every measurement at or near all… more
Home Buyers Should Learn "Due Diligence" From Commercial Transactions.
01/23/2012
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Muncie and Delaware Co, IN is a small market and I do both residential and commercial brokerage. On the commercial side we're usually dealing with business professionals and attorneys who have broad experience in these transactions. "Due Dilligance… more
2012 Predictions for Real Estate in Muncie and Delaware Co, IN
12/30/2011
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As we come to the end of 2011 I want to look forward to 2012 and make some predictions about the real estate market in Muncie and Delaware Co, IN. 2011 was a very difficult year and when the final tallies are in, we're probably going to see unit… more
Muncie-Delaware Co, IN Market and a Predicted Recovery
12/15/2011
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The following article was posted by CNBC on Yahoo Finance last Fri. Those of you who read me regularly know that I usually ignore national market information because all real estate is local. This time, however, our Muncie-Delaware Co. market data… more
Why Do Our Associations Publish Misleading Data?
11/30/2011
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One of the negative characteristics attributed to Confederate Cavalry General J. E. B. Stuart was that he liked to read about his daring exploits in the newspapers. Many believe that attribute led to his "joy-ride" and absence from Lee's army just… more
Failure of the "Super Committee" and Possible Effects on the Real…
11/23/2011
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The failure of the congressional "Super Committee" to reach a compromise on reducing the national deficit came as no surprise to many. The committee of distinguished, experienced congressional people divided along party lines, failed to compromise… more
Using Numbers in Our Business
11/16/2011
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I read a recent post decrying the over-reliance on numbers in our real estate businesses. The post was well written and received a number of agreeable comments. While I know you can take anything too far, I think it's very necessary to use numbers… more
"But Our Cause Is Just. "
11/08/2011
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It's been interesting to read the back and forth discussion about the NAR's $40 dues increase to support "critically needed lobbying for the housing industry. " After watching the Jack Abramoff interview on 60 Minutes this past Sun, I was appalled at… more
The Auto Industry Is Back! What It Means To Muncie, IN Real Estate
11/04/2011
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“A country that doesn’t build things is in trouble. ” – David Cole, chairman, Center for Automotive Research. The Auto Industry Is Back! For the past few years, the automotive belt states of Michigan, Ohio and Indiana… more
 
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Jim Kouns

Muncie, IN

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Coldwell Banker Lunsford

Address: 3601 W. Bethel, Muncie, IN, 47304

Office Phone: (765) 289-2228 x 116

Cell Phone: (765) 717-0027

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