Loved this! I do have to add one more. Thou shalt not lie to your Realtor!!

I had to re-blog this because of it's educational value! So many Innocent people have been hurt. Most people can not even contemplate a scheme like this. Hopefully someone, somewhere will read this and be better prepared should a situation like this occur.

As I sit at my computer coughing my lungs out with Bronchitis I feel the urge to reflect on yesterday, today and tomorrow in Real Estate. Having said that, I really wonder why customers are not banging down doors to buy homes. In our market outside Philadelphia Pa., we are in good shape! Not a lot of foreclosures or short sales. Our market prices are lower but not significantly. Yet, the buyers are not coming. Do you think it's all the hype on TV and the media? It can't be the interest rates cause those are great. It can't be price because the prices are terrific. It can't be supply because we have a good inventory. Who wants to rent? Gosh I thought everyone wanted to be able to paint where they live any color they want. And we all know this is not possible renting.

So I have decided that this is all a mob mentality. Meaning everyone does what everyone else does. When it was hot people bought who didn't even need to. Just because everyone else was.

So in conclusion I have decided that my goal for 2009 has changed.  In the 80's the interest were 14% and I still sold homes. With this in mind I now know that I can achieve my financial goal this year. And I will do this with tenacity and education and never giving up.

So with that being said I should end this romp and get on to some serious educating.

 

 I think I have this straight-

First time buyers tax credit Facts

Well, we all know that the bill was signed by the President. But, it still has a long way to go. And I am not so clear on what it will do in terms of helping the buyers. I remember in the 80's a program like this.  So as it stands now it seems that the buyer (who qualifies) will get up to $7500 tax credit. The credit works at tax time and is NOT money that borrowers can get their hands on to use for settlement or a downpayment. When the buyer prepares their taxes in April 2009, they will get a credit of up to $7500 which could either make the amount they owe in taxes less or give them more of a refund.

But one thing to remember is this money is not  FREE!! They have 15 years to pay back the tax credit interest free which breaks down to $500 per tax year. Again, the $500 will be calculated at tax time and ultimately affect the borrowers tax refund or the amount they. We will have to wait and see what the house and the senate do with this legislation.

My buyer would not listen. No, the bargain short sale was what they wanted! Well I tired to explain the pit falls of such a purchase. And now they have to move and have no home to go to. To get back on track*****

Repeatedly I told them:

1) this process does move at a snails pace.

2) Of course I told them the bank agreed to a payoff price not the sales price.

3) That no walk through will be done as the utilities are turned off now!

As we continued in this tangled mess the buyer got extremely upset. As i proceed to explain the In's and outs of a short sale again. Do not expect the banks to work closely with you. Sometimes I wonder why we put our money in these institutions which in these cases seem so inadequate. People never get back to you in a timely fashion. Closing dates mean nothing to them. If they would work faster things could maybe work out. But, by the time to close comes around all the numbers have changed. The utility bills are due and are higher. The first payoff is higher, and everything is in arrears. So it's back to step one!!!! What will the 2nd lien accept?
Well folks by the time we get the answer this time everything will change again. My buyers have finally listened to me and have walked away. We are now in the process on closing on a nice home which is still a good value.  But they learned a very good lesson. Which is do not believe everything you read in the papers and all that you see on TV. The unfortunate part of this whole mess is that it cost time and money for both me and the buyers. So In conclusion stay away from these for your first time buyers who need to move. The time spent on this endeavor is totally not profitable in the long run. And the experience leaves the buyers with an uneasy feeling as to how real estate is done. Even suspecting us professional's of not knowing one hand from another!! 

I found it fascinating how now that the market is sluggish people's creative juices start flowing. All these ideas are just incredible. It amazes me that people come up with this stuff. It just goes to show that we professional Realtors are smarter than the average bear. And that our sellers should really appreciate all the hard work we do. I guess their is a lesson in this for all of us. That even when times are good we should always be thinking outside the box. It is about time.

Hello everyone. I pay also every year for Realtor.com and I have forgotten why! Can someone please let me know what the benefits are and convince me why I should keep paying them. In these times of tightening our belts cleaning out the closet is the first place to start.

Having just returned from an Exciting trip to Egypt. I started to think about how lucky we are in America! As this picture shows in Egypt you only are taxed when your home is done. So because of this law about 90% of the homes are not complete!

Now can you imagine that. See the top . They just keep adding on levels but make sure it's never complete. They also have a serious trash problem. The Egyptian government is supposed to pick up the garbage. But, they don't. So people just throw the trash anywhere. Mostly in a vacant lot somewhere. Can you pictures this! They also use mud bricks to still build homes. This next picture shows the bricks. So in retrospect when I think of our problems they seem so insignificant compared to the Egyptians. As we ponder our problems with the mortgage crisis and forclosures we need to understand that these too will pass.  The people in Egypt make on average $8 a day. Really all they think about is surviving. But,  our country is going to bail out buyers for having taken a gamble. Now, where in the world except America would a government help people who made a bad choice.  I will post more on this adventure and the insights I had.

You know that we are being sold a bag of goods. Our market has slowed down but has absolutely not stopped. Lansdale and Montgomery are great areas for schools, recreation and homes. Our taxes are a lot less than surrounding areas like Bucks county. That's why people want to move to Montgomery county. We have many homes in Lansdale, Montgomery township, Hatfield, all over Montgomery county that are as much as 20% or $35,000 below one or two years ago. Why rent when home buyers in Montgomery township can find some of the best homes at the best prices. Montgomery County realtor Perky Hammer can help you find and buy the right house in Lansdale, Hatfield, Towamencin, Upper gwynedd, Ambler, North Wales and all areas in Montgomery County.Call 215-362-2260 x1735 or visit my web site at http://www.perkyhammer.com/

You know and I know you can not believe everything you hear on TV and in the newspapers. Anyone with any common sense realizes that the up swing in Real Estate prices could not go on forever. If it did, Our children would never be able to be a home owner. The market for sure has slowed down but only for the sellers. The buyers are still out there and active. Couples get married and want a home. Older people  can no longer take the steps in their house and need a one story. People pass-away or people retire and want to move geographically. As a practicing Realtor for almost 18 years I have seen the good and bad in the markets. This too will pass. So when you are chatting with friends or family, remember that this is a great time to buy Real Estate. And don't believe every thing you read or hear. Thanks!