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home sales: Home Buyer's Tax Credit Needs To Come Back - 09/28/10 09:44 PM
It seems that the home buyer tax credit had put a bid in the real estate market this past spring. Most markets since have slow down considerably. Yes, it was spring the strongest season and it pulled many buyers out early, but you can feel the difference in the lower end of the market. If the lower end doesn't moved it affects all the ranges. It is estimated, that it cost the federal government 22 Billion dollars for the program. Compared to the trillions spent on the other aspects of the recovery act, this was well spent and helped sell a lot of … (5 comments)

home sales: Should Banks tighten credit at market highs or lows? - 05/09/09 09:42 PM
I read, that in a survey of senior loan managers, they had tighten credit over the past 3 month period.
For nearly a decade, while prices push higher by loose credit standards, it was ok to give money away for any credit, for any high price real estate that moved decisively away from the trend line and moving averages. This was a time of high prices rises, that a prudent loan manager should of tighten standards, simple due to excess increases in prices. Now that the worry period is over and prices have come down and the risk of further declines … (10 comments)

home sales: Credit Challenged Society! What do we do? - 03/07/09 10:04 AM
With all the foreclosures, short sales, write offs, job losses. Who will be left to get this economy going? I have said many times the government must key this crisis recovery at the strong. They must make guarantees and funding available to investor that can and will buy the distressed assets. They have since spoke about and worked on various programs to start it up. They must focus more on each niche.
Niche 1, Recycling Our Population
What is to happen with all the people who went under water, many of which were not financially stuck but there asset went under … (6 comments)

home sales: President Obama's Housing Affordability and Stability Plan - 02/24/09 04:27 PM
My Mortgage broker past this on with permision to copy. I think it is worth reading.
President Obama unveiled his plan to help stabilize the housing market and keep millions of borrowers in their homes.The Homeowner Affordability and Stability Plan includes two initiatives to help struggling homeowners. One is a refinancing program for homeowners with less than 20% equity in their homes, or who owe more than their home is worth. The second program attempts to lower monthly payments for homeowners at risk of losing their home. In addition, the plan includes a third initiative to support low mortgage rates by … (1 comments)

home sales: Fed must extend mortgage programs to investors and here is why. - 12/16/08 11:13 AM
Rental Shortage needs to be tapped! The real estate market is inside out in many parts of the country. People are leaving their foreclosed homes and need a place to live. Rental rates are raising due to demand. The Treasury and Federal Reserve must set up a Fannie and Freddie package for investors with down payments. This will allow people to use their credit and down payment money to buy these foreclosed homes, get them off the market and make property available to qualified renters.
The credit worthy buyers are not the foreclosed persons. They can only rent now. You need … (6 comments)

home sales: Give your listings the 3-2-1 Punch! - 10/30/08 08:44 PM
Do you have an approach to getting your listings attention other then just lowering the price. An old dog becoming new, is the 3-2-1 buy down. It cost a little over 4% of the mortgage amount.
Assuming a 80% loan to value. The Seller gives about a 3.2% of the sales price concession. This will buy an 80% mortgage down 3 points the first year, 2 points the second year and 1 point the third year and the 4th year goes as face rate for the remaining portion of the 30 year loan. 
You can post a rider on your sign for information … (1 comments)

 
Richardstabile4 Rainmaker_large

Richard Stabile Bergen County New Homes Builder Realtor

Woodcliff Lake, NJ

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REMAX real estate associates

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