A rising proportion of fixed-rate home loans made to people with good credit are sinking into foreclosure, adding to concerns about the strength of the economic recovery.   Driven by rising unemployment, such loans accounted for nearly 33 percent of new foreclosures last quarter. That compares with just 21 percent a year ago, when high-risk subprime loans made during the housing boom were the main reason for default.

At the same time, the proportion of homeowners with a mortgage who were either behind on their payments or in foreclosure hit a record-high for the ninth straight quarter.

It is entirely possible that the housing market and broader recovery could be thwarted by the continuing surge in home loan defaults, especially as the unemployment rate keeps rising. Lost jobs, rather than the shady loans made during the housing boom, are now the main reason homeowners fall behind on their mortgages.

After three years of plunging prices, the housing market started to rebound this summer - but only because of the tax credit. While optimists hope the worst is over, pessimists say there are simply too many foreclosed properties that have yet to be dumped on the market and expect further price declines.

About 4 million homeowners were either in foreclosure or at least three months behind on their mortgage payments as of September.

Even if a quarter of those borrowers are able to stay in their homes, there is a lot of potential inventory coming into the market next year.

Subprime loans with adjustable rates have fallen to 16 percent of new foreclosures from 35 percent a year earlier.

Loans backed by the Federal Housing Administration also show increasing signs of trouble. More than 18 percent of FHA borrowers are at least one payment behind or in foreclosure.

California, Nevada, Arizona and Florida accounted for 44 percent of new foreclosures in the country. Nearly 13 percent of all loans in Florida were in foreclosure, the highest in the U.S., followed by Nevada at more than 9 percent.

Illinois has the most homes listed for sale as a percentage of population - and could face rising foreclosure rates.

If you are a home buyer or investor in the Chicago area - you can have the peace of mind in using our expert negotiation services. I only work for buyers - never sellers (meaning - I am an "exclusive buyer agent"). As such - I am a specialist - not a generalist - and you can never get into the dual agency conflict of interest situations that you can get into - with a typical buyer agent.

I use my background in high-end corporate competitive intelligence to identify very flexible sellers - allowing you to get extremely good purchase prices on properties of your choice. I'm a "Certified Negotiation Expert" (CNE Designation) - and on the Board of Directors of the National Association of Exclusive Buyer Agents - www.naeba.org -- an organization that is the premier trade association in the USA for home buyer representation. Because I have over 20 years of high end negotiation experience, I have several thousand negotiation techniques at my disposal. I select the techniques that work best for a given situation. You can count on me to be fully on your side - telling you about the negatives of any given property - not "selling you" on a property. Market timing is not nearly as important as getting an amazing purchase price on a property -- which then makes timing irrelevant. Contact me using the information below to schedule an appointment for more information.

As Exclusive Buyer Agents - we provide expert research and negotiation for home buyers and investors in the Chicago area - covering both downtown and many Chicago suburbs. Unlike "buyer agents" - we are specialists -- always 100% on the buyer's side.... NEVER EVER REPRESENTING SELLERS!

If you are thinking about buying / purchasing a home in the Chicago Illinois area, you should ensure that you have an agent that is on YOUR side – looking out for your best interests.

Relocation Advisors Group, Inc. represents BUYERS ONLY in the Chicago metropolitan area so that you have 100% representation - 100% of the time. We show more types of properties. Besides all MLS listed properties by any company - we show for-sale-by-owner, short-sale and foreclosure properties, properties that aren't advertised, and much more.

If You Become our Client - You Can Be Assured That We Tell You About the Negatives of a Home - Not Just the Positives. You Have an Unbiased Consultant and Advocate and "Personal Real Estate Coach" on Your Side....(Not a "Salesperson")

Best of All - You are Nothing Out of Pocket to Us For Our Services...

If you have excellent credit and are thinking about buying a home between $250,000 to $2 million in the Chicago Illinois area during the next 60-90 days:

For the three months ended Sept. 30, 6.25 percent of U.S. mortgage loans were 60 or more days past due, according to credit reporting agency TransUnion. That's up 58 percent from 3.96 percent a year ago.

Being two months behind is considered a first step toward foreclosure, because it's so hard to catch up with payments at that point.

The increase shows there's still a lot of problematic mortgages out there, said F.J. Guarrera, vice president of TransUnion's financial services division. The company doesn't expect the figure to start declining until the middle of 2010.

Two things must get better before mortgage delinquency rates start reversing themselves, he said: home values and unemployment. "Until we see improvement in both of those areas, it's possible that it will take longer for delinquency to improve."

The statistics, which are culled from TransUnion's database of 27 million consumer records, show that mortgage delinquencies remain highest in the four states where the crisis has hit the worst.

-- In Nevada, the rate reached 14.5 percent, up from 7.7 percent a year ago.

-- In Florida, the rate was 13.3 percent, up from 7.8 percent last year.

-- In Arizona, the rate hit 10.4 percent, up from 5.5 percent in 2008.

-- In California, the rate jumped to 10.2 percent, from 5.8 percent last year.

North Dakota remained the state where mortgage holders most often paid on time, with just 1.7 percent delinquency, up from 1.4 percent last year.

TransUnion expects delinquency to rise to just short of 7 percent for the fourth quarter, compared with 4.6 percent for the 2008 fourth quarter. The rate may reach 16 percent in Nevada. Those states with the highest delinquency and foreclosure rates will likely continue to see depressed housing prices.

The average mortgage debt per borrower nationwide edged up to $193,121 in the third quarter, from $192,287 last year. The District of Columbia had the highest average mortgage debt per borrower at $359,788. The lowest average mortgage debt per borrower was in West Virginia at $97,265.

If you are a home buyer or investor in the Chicago area - you can have the peace of mind in using our expert negotiation services. I only work for buyers - never sellers (meaning - I am an "exclusive buyer agent"). As such - I am a specialist - not a generalist - and you can never get into the dual agency conflict of interest situations that you can get into - with a typical buyer agent.

I use my background in high-end corporate competitive intelligence to identify very flexible sellers - allowing you to get extremely good purchase prices on properties of your choice. I'm a "Certified Negotiation Expert" (CNE Designation) - and on the Board of Directors of the National Association of Exclusive Buyer Agents - www.naeba.org -- an organization that is the premier trade association in the USA for home buyer representation. Because I have over 20 years of high end negotiation experience, I have several thousand negotiation techniques at my disposal. I select the techniques that work best for a given situation. You can count on me to be fully on your side - telling you about the negatives of any given property - not "selling you" on a property. Market timing is not nearly as important as getting an amazing purchase price on a property -- which then makes timing irrelevant. Contact me using the information below to schedule an appointment for more information.

As Exclusive Buyer Agents - we provide expert research and negotiation for home buyers and investors in the Chicago area - covering both downtown and many Chicago suburbs. Unlike "buyer agents" - we are specialists -- always 100% on the buyer's side.... NEVER EVER REPRESENTING SELLERS!

If you are thinking about buying / purchasing a home in the Chicago Illinois area, you should ensure that you have an agent that is on YOUR side – looking out for your best interests.

Relocation Advisors Group, Inc. represents BUYERS ONLY in the Chicago metropolitan area so that you have 100% representation - 100% of the time. We show more types of properties. Besides all MLS listed properties by any company - we show for-sale-by-owner, short-sale and foreclosure properties, properties that aren't advertised, and much more.

If You Become our Client - You Can Be Assured That We Tell You About the Negatives of a Home - Not Just the Positives. You Have an Unbiased Consultant and Advocate and "Personal Real Estate Coach" on Your Side....(Not a "Salesperson")

Best of All - You are Nothing Out of Pocket to Us For Our Services...

If you have excellent credit and are thinking about buying a home between $250,000 to $2 million in the Chicago Illinois area during the next 60-90 days:

The Michigan Avenue Tower II auction - was held yesterday afternoon at the W Chicago – City Center in the Loop.

Buyers packed one of the hotel’s event rooms starting at 1 p.m. to vie for 43 condos (three more were added) at the tower, located at 1400 S Michigan Ave.

The condos sold for more than many had expected — and the developer looked pretty happy when I was walking out...

The actual average based on this spreadsheet - was $276 per square foot, down 26 percent from an original average of $375 per square foot.

In all, sales surpassed $11.2 million.

If you are a home buyer or investor in the Chicago area - you can have the peace of mind in using our expert analysis (in auctions for example) and negotiation services - on all types of properties - bank owned foreclosures / short sales, for-sale-by-owners, new construction etc. I only work for buyers - never sellers (meaning - I am an "exclusive buyer agent"). As such - I am a specialist - not a generalist - and you can never get into the dual agency conflict of interest situations that you can get into - with a typical buyer agent.

I use my background in high-end corporate competitive intelligence to identify very flexible sellers - allowing you to get extremely good purchase prices on properties of your choice. I'm a "Certified Negotiation Expert" (CNE Designation) - and on the Board of Directors of the National Association of Exclusive Buyer Agents - www.naeba.org -- an organization that is the premier trade association in the USA for home buyer representation. Because I have over 20 years of high end negotiation experience, I have several thousand negotiation techniques at my disposal. I select the techniques that work best for a given situation. You can count on me to be fully on your side - telling you about the negatives of any given property - not "selling you" on a property. Market timing is not nearly as important as getting an amazing purchase price on a property -- which then makes timing irrelevant. Contact me using the information below to schedule an appointment for more information.

As Exclusive Buyer Agents - we provide expert research and negotiation for home buyers and investors in the Chicago area - covering both downtown and many Chicago suburbs. Unlike "buyer agents" - we are specialists -- always 100% on the buyer's side.... NEVER EVER REPRESENTING SELLERS!

If you are thinking about buying / purchasing a home in the Chicago Illinois area, you should ensure that you have an agent that is on YOUR side – looking out for your best interests.

Relocation Advisors Group, Inc. represents BUYERS ONLY in the Chicago metropolitan area so that you have 100% representation - 100% of the time. We show more types of properties. Besides all MLS listed properties by any company - we show for-sale-by-owner, short-sale and foreclosure properties, properties that aren't advertised, and much more.

If You Become our Client - You Can Be Assured That We Tell You About the Negatives of a Home - Not Just the Positives. You Have an Unbiased Consultant and Advocate and "Personal Real Estate Coach" on Your Side....(Not a "Salesperson")

Best of All - You are Nothing Out of Pocket to Us For Our Services...

If you have excellent credit and are thinking about buying a home between $250,000 to $2 million in the Chicago Illinois area during the next 60-90 days:

We certainly are in the midst of wonderful Chicago area Fall weather. There is a nip in the air, and final leaves to rake.  It's a wonderful time of year to be in the Chicago area - especially as it has been warmer than normal - though the cool air is finally kicking in with an invigorating punch... 

The local Real Estate market continues to be a very divided market.  Homes sales are brisk in the price ranges of under $350,000 and slow down significantly above that price range.  The extension of the $8,000 tax credit for first time buyers will guarantee a continuation of this trend.  What we don't know at this time is if the $6,500 tax credit for move up buyers will kick start the market above the $350,000 range.

Investors are certainly beginning to take note of this market with it's attractive home pricing and low interest rates.  We serve investors by being the top research and professional negotiation firm in the Chicago area - helping them attain deals they would not otherwise be able to obtain - for the price that we negotiate.

With the large number of bank owned properties and short sale properties available for sale it is a perfect environment for investors.  When the investors are jumping into the market -- move up buyers should take note that this is a good time for them as well. 

We are starting to see another surge of new buyers - like we saw this summer - with our busiest year ever (at least for my company / myself.)

Look for conditions to remain fairly constant through early next year....

DOWNTOWN CHICAGO AUCTION DATA FROM THIS WEEKEND:

Sunday, November 15, 2009 - I attended and analyzed an auction of 45 downtown Chicago condos --  1400michigan.com - Michigan Avenue Tower II.

The lowest price per square foot for the units was about $258 per square foot -- a 2 BR 2 BA unit at 1,144 sq feet went for $296,000 (it had previously been listed for $520,000)    Prime Michigan avenue location - with views of the downtown skyline.

Average per square foot price for the condos based on my calculations - was about $280 per square foot.  Bids were fairly consistent based on square footage calculations - perhaps because there were over 200 bidders in attendance.

Units ran drom a 3 BR 3 BA with 2,120 square feet going for $601,000 to 2 BR 2 BA units with 1,115 square feet (317k), 1,144 square feet (296-317K), 1,027 square feet (went for 274k - 305k), and 1,260 (going in the 330's) square feet.

1 BR 1 BA units ranged from 692 square feet (went for 180-190k) to to 751 square feet (198k-222k - quite the range!), 783 square feet (218-221k)

A small 550 square foot studio went for 160k.

If you would like me to represent you at such auctions (either downtown Chicago or for Chicago suburban properties) - feel free to e-mail me directly at rhauser@relocationadvisorsgroup.com

Have a nice day!

If you are a home buyer or investor in the Chicago area - you can have the peace of mind in using our expert analysis (in auctions for example) and negotiation services - on all types of properties - bank owned foreclosures / short sales, for-sale-by-owners, new construction etc. I only work for buyers - never sellers (meaning - I am an "exclusive buyer agent"). As such - I am a specialist - not a generalist - and you can never get into the dual agency conflict of interest situations that you can get into - with a typical buyer agent.

I use my background in high-end corporate competitive intelligence to identify very flexible sellers - allowing you to get extremely good purchase prices on properties of your choice. I'm a "Certified Negotiation Expert" (CNE Designation) - and on the Board of Directors of the National Association of Exclusive Buyer Agents - www.naeba.org -- an organization that is the premier trade association in the USA for home buyer representation. Because I have over 20 years of high end negotiation experience, I have several thousand negotiation techniques at my disposal. I select the techniques that work best for a given situation. You can count on me to be fully on your side - telling you about the negatives of any given property - not "selling you" on a property. Market timing is not nearly as important as getting an amazing purchase price on a property -- which then makes timing irrelevant. Contact me using the information below to schedule an appointment for more information.

As Exclusive Buyer Agents - we provide expert research and negotiation for home buyers and investors in the Chicago area - covering both downtown and many Chicago suburbs. Unlike "buyer agents" - we are specialists -- always 100% on the buyer's side.... NEVER EVER REPRESENTING SELLERS!

If you are thinking about buying / purchasing a home in the Chicago Illinois area, you should ensure that you have an agent that is on YOUR side – looking out for your best interests.

Relocation Advisors Group, Inc. represents BUYERS ONLY in the Chicago metropolitan area so that you have 100% representation - 100% of the time. We show more types of properties. Besides all MLS listed properties by any company - we show for-sale-by-owner, short-sale and foreclosure properties, properties that aren't advertised, and much more.

If You Become our Client - You Can Be Assured That We Tell You About the Negatives of a Home - Not Just the Positives. You Have an Unbiased Consultant and Advocate and "Personal Real Estate Coach" on Your Side....(Not a "Salesperson")

Best of All - You are Nothing Out of Pocket to Us For Our Services...

If you have excellent credit and are thinking about buying a home between $250,000 to $2 million in the Chicago Illinois area during the next 60-90 days:

In a survey conducted by move.com before the credit extention - they found that just one in 20 Americans say they plan to buy a home within the next year, and they're most likely to be 34 years old or younger and living in the South or West.

(Comment - that begs the question - what about the East and Midwest?  I don't think those markets are dog meat... My company has had a banner year of buyers in the Chicago area - thus far....perhaps because they know that we are totally different (being 100% on the buyer's side - never representing sellers)  - and expert negotiators... since that is all we do..)

Roughly a quarter of potential buyers said the No. 1 reason they would buy now is because prices appear to have bottomed out. That reason topped bargain-priced foreclosures, worries about rising interest rates and a wide selection of homes.

Those surveyed widely favored federal policies that kept interest rates low and helped troubled homeowners avoid foreclosure over those that helped first-time homebuyers purchase a home. And, overall, 48 percent of those polled didn't think the government was doing enough to stabilize the housing market, whereas 42 percent thought it was.

Forty-five percent of Americans worry that they or someone they know will face foreclosure in the next year. And almost 30 percent of those with a mortgage have contacted their lender in the past year to reduce their payments.

As Exclusive Buyer Agents - we provide expert research and negotiation for home buyers and investors in the Chicago area - covering both downtown and many Chicago suburbs. Unlike "buyer agents" - we are specialists -- always 100% on the buyer's side.... NEVER EVER REPRESENTING SELLERS!

If you are thinking about buying / purchasing a home in the Chicago Illinois area, you should ensure that you have an agent that is on YOUR side – looking out for your best interests.

Relocation Advisors Group, Inc. represents BUYERS ONLY in the Chicago metropolitan area so that you have 100% representation - 100% of the time. We show more types of properties. Besides all MLS listed properties by any company - we show for-sale-by-owner, short-sale and foreclosure properties, properties that aren't advertised, and much more.

If You Become our Client - You Can Be Assured That We Tell You About the Negatives of a Home - Not Just the Positives. You Have an Unbiased Consultant and Advocate and "Personal Real Estate Coach" on Your Side....(Not a "Salesperson")

Best of All - You are Nothing Out of Pocket to Us For Our Services...

If you have excellent credit and are thinking about buying a home between $250,000 to $2 million in the Chicago Illinois area during the next 60-90 days:

Last week, a new Homebuyers Tax Credit bill was signed into law. The bill extends the tax credit for first-time homebuyers (FTHBs), as well as opens it up to current homeowners who are looking to buy. And even if you aren't looking to purchase - pass on this article to anyone you think might be in the market to do so. This is information that might benefit them greatly, and I'll be happy to be of service to them.

Here is a brief overview of the Homebuyers Tax Credit - and its benefits - based on the new bill.

Tax Credit for First-Time Homebuyers

FTHBs (that is, people who have not owned a home within the last three years) may be eligible for the tax credit. The credit for FTHBs is 10% of the purchase price of the home, with a maximum available credit of $8,000.

Single taxpayers and married couples filing a joint return may qualify for the full tax credit amount.

Tax Credit for Current Homeowners

The tax credit program now gives those who already own a residence some additional reasons to move to a new home. This incentive comes in the form of a tax credit of up to $6,500 for qualified purchasers who have owned and occupied a primary residence for a period of five consecutive years during the last eight years.

Single taxpayers and married couples filing a joint return may qualify for the full tax credit amount.

What are the New Deadlines?

In order to qualify for the credit, all contracts need to be in effect no later than April 30, 2010 and close no later than June 30, 2010. Those in the military do have some special extensions on the timelines available.

What's So Great About a "Tax Credit"?

The benefit of a tax credit is that it's a dollar-for-dollar benefit, rather than a "tax deduction", or reduction in a tax liability that would only save you $1,000 to $1,500 when all was said and done. So, if a first-time homebuyer who qualified for the entire benefit were to owe $8,000 in income taxes and would qualify for a tax credit of $8,000, she would owe nothing.

Better still, the tax credit is refundable, which means the homebuyer can receive a check for the credit if he or she has little or no income tax liability. For example, if a first-time homebuyer is eligible for a tax credit of $8,000 but is liable for $1,000 in income tax, she can still receive a check for the remaining $7,000!

Higher Income Caps

The amount of income someone can earn and qualify for the full amount of the credit has been increased.

Single tax filers who earn up to $125,000 are eligible for the total credit amount. Those who earn more than this cap can receive a partial credit. However, single filers who earn $145,000 and above are ineligible.

Joint filers who earn up to $225,000 are eligible for the total credit amount. Those who earn more than this cap can receive a partial credit. However, joint filers who earn $245,000 and above are ineligible.

Maximum Purchase Price

Qualifying buyers may purchase a property with a maximum sales price of $800,000.

Remember, the new tax credit program includes a number of details and qualifications. Call or email me today at rhauser@relocationadvisorsgroup.com if you have questions or would like to see if you can benefit from the tax credit...and email this article along to anyone else you feel it might benefit as well!

As Exclusive Buyer Agents - we provide expert research and negotiation for home buyers and investors in the Chicago area - covering both downtown and many Chicago suburbs. Unlike "buyer agents" - we are specialists -- always 100% on the buyer's side.... NEVER EVER REPRESENTING SELLERS!

If you are thinking about buying / purchasing a home in the Chicago Illinois area, you should ensure that you have an agent that is on YOUR side – looking out for your best interests.

Relocation Advisors Group, Inc. represents BUYERS ONLY in the Chicago metropolitan area so that you have 100% representation - 100% of the time. We show more types of properties. Besides all MLS listed properties by any company - we show for-sale-by-owner, short-sale and foreclosure properties, properties that aren't advertised, and much more.

If You Become our Client - You Can Be Assured That We Tell You About the Negatives of a Home - Not Just the Positives. You Have an Unbiased Consultant and Advocate and "Personal Real Estate Coach" on Your Side....(Not a "Salesperson")

Best of All - You are Nothing Out of Pocket to Us For Our Services...

If you have excellent credit and are thinking about buying a home between $250,000 to $2 million in the Chicago Illinois area during the next 60-90 days:

After the Senate gave final approval last night without a dissenting vote, the House of Representatives voted overwhelmingly this afternoon to pass legislation containing an extension and expansion of the homebuyer tax credit, completing Congressional action and sending the tax credit to President Obama for his signature, possibly as early as tomorrow.

The $8,000 homebuyer tax credit for first-time buyers, due to expire in 25 days, will be extended through April 30 of next year and buyers will have an additional two months, until the end of June, to close. First-time buyers who are in the process of making a purchase will no longer need to worry about qualifying for the $8,000 credit if they close after the November 30 deadline. The new legislation increases the income limit for couples with income up to $225,000, a nearly $55,000 increase above the level in existing law.

For the first time, the new legislation makes buyers who already own a home eligible for a credit. A $6,500 maximum credit will be available to existing homeowners who have lived in their current residence for five of the prior eight years. The legislation limits eligibility for the existing homeowner credit to homes worth $800,000 or less.

The legislation takes effect December 1 and is not retroactive. Both credits are available only for primary residences, not second homes or investment properties.

It is virtually certain that the President will sign the legislative package, which contains an expansion of unemployment benefits as well as the tax changes.

The legislation included provisions added to address complaints of fraud. The Internal Revenue Service is given greater authority to oversee the process to root out fraud, and provisions are added in response to past abuses of false sales or underage buyers. An investigation by the Treasury Department’s Inspector General for Tax Administration found that more than 580 children, some as young as four years old, had received $627,000 in first-time homebuyer credits. The IRS has identified 167 suspected criminal schemes and opened nearly 107,000 examinations of potential civil violations of the first-time homebuyer tax credit.

The legislation also contains a provision supported by the National Association of Home Builders which will help larger companies strapped for cash with net operating losses (NOL). Ordinarily these companies can carry back these losses for only two years to qualify for a tax refund. The provision would make this process extend the carry-back to five years for either 2008 or 2009. The tax break will now apply to losses in either 2008 or 2009, and the income cap will come off.

Comment - this should help keep buyers in the market for quite some time... and perhaps provide a benefit over the normally slower holiday season..

Different people have different notions of what cheap means and buying isn't an option for everybody. Many renters are now losing jobs and banks are raising standards for mortgages.

But renters should always evaluate the decision of whether to rent or to own.... Here is a list of American's Cheapest Homeownership Markets...

Some summary information from the link noted above...

1. Detroit Metro (Mich.)
Own/rent ratio: 94%
Annual cost to own: $8,519
Annual cost to rent: $9,072

Detroit is best known as the home of the Big Three automakers: General Motors, Ford, and Chrysler. The city has been hard-hit by the recession because of its dependence on the struggling auto industry. Detroit was the 11th largest metropolitan area as of 2007, with a population of nearly 4.5 million. It had and unemployment rate of 17.1% in June, the worst of any metropolitan area with a population over one million.

2. Pittsburgh Metro (Penn.)
Own/rent ratio: 97%
Annual cost to own: $8,947
Annual cost to rent: $9,252

The Pittsburgh area, located on the west side of the state, has a population of about 2.3 million. This former steel town now has large employment in the education and health-care industries. Heinz and United States Steel have headquarters there. The area has escaped the worst of the recession and had a 7.7% unemployment rate in June.

3. Rochester Metro (N.Y.)
Own/rent ratio: 113%
Annual cost to own: $9,523
Annual cost to rent: $8,448

Located near Lake Ontario, the Rochester metropolitan area has a population of more than 1 million. Rochester is home to Eastman Kodak and the University of Rochester. The Rochester unemployment rate was 8.4% in June, not seasonally adjusted. In the first half of this year, one in every 276 houses received a foreclosure notice in the Rochester area, according to RealtyTrac.

4. Memphis Metro (Tenn.-Miss.-Ark.)
Own/rent ratio: 114%
Annual cost to own: $8,593
Annual cost to rent: $7,524

Memphis is located on the Mississippi River and the metropolitan area has a population of more than 1.2 million. The city is known as the birthplace of rock and roll. Elvis' estate, Graceland, is in the area. FedEx, AutoZone and International Paper are headquartered there. The Memphis area ranked 43rd in the nation in foreclosure notices in the first half of 2009 according to RealtyTrac.

5. Tampa Metro (Fla.)
Own/rent ratio: 115%
Annual cost to own: $10,823
Annual cost to rent: $9,444

South Florida is has been hit hard by the recession, and home prices in Tampa have taken a dive. The metro was the country's 19th-largest in 2007, with a population of more than 2.7 million. OSI Restaurant Partners and WellCare Health Plans are headquartered there. The Tampa Bay area also relies on the tourism industry.

6. Cleveland Metro (Tenn.)
Own/rent ratio: 119%
Annual cost to own: $9,934
Annual cost to rent: $8,364

Cleveland, Tenn., is located in the southeast corner of Tennessee, near Chattanooga. Major employers include Johnston Coca-Cola Bottling, Whirlpool, and Rubbermaid. With a population of approximately 112,000, the Cleveland area is among the smallest on this list.

7. Dayton Metro (Ohio)
Own/rent ratio: 119%
Annual cost to own: $8,420
Annual cost to rent: $7,056

Home prices and employment in Dayton have both taken a hit in the recession. The unemployment rate in the area was 12.1% in June. The Wright-Patterson Air Force Base is a large employer in the area.

8. Columbia Metro (S.C.)
Own/rent ratio: 123%
Annual cost to own: $9,885
Annual cost to rent: $8,016

Columbia is the state capital and home to the University of South Carolina. The metropolitan area had about 700,000 people as of 2007. The city's large employers are the state government and University of South Carolina, two industries that are more recession-proof than others, and so it has been spared from the worst of the crisis. However, the unemployment rate still reached 10% in June (not seasonally adjusted).

9. Orlando Metro (Fla.)
Own/rent ratio: 124%
Annual cost to own: $12,107
Annual cost to rent: $9,756

The Orlando metro area, in central Florida, has a population of more than 2 million. Orlando's economy relies heavily on tourism from Walt Disney World, Universal Studios, and SeaWorld amusement parks. The metro area ranked 10th in foreclosure notices in the first half of 2009, according to RealtyTrac. It had an unemployment rate of 10.8% in June, not seasonally adjusted.

10. Dallas-Fort Worth Metro (Texas)
Own/rent ratio: 124%
Annual cost to own: $11,037
Annual cost to rent: $8,880

Home sales in the Dallas-Fort Worth area were flat in the second quarter of 2009 after several declines, according to the National Association of Realtors. Mortgage rates are low, making this a good time for home buyers. The Dallas-Forth Worth region was the fourth-largest metropolitan area in 2007 and the largest city on this list. It had a June unemployment rate of 8.2%. American Airlines and ExxonMobil are headquartered in the area.

As Exclusive Buyer Agents - we provide expert research and negotiation for home buyers and investors in the Chicago area - covering both downtown and many Chicago suburbs. Unlike "buyer agents" - we are specialists -- always 100% on the buyer's side.... NEVER EVER REPRESENTING SELLERS!

If you are thinking about buying / purchasing a home in the Chicago Illinois area, you should ensure that you have an agent that is on YOUR side – looking out for your best interests.

Relocation Advisors Group, Inc. represents BUYERS ONLY in the Chicago metropolitan area so that you have 100% representation - 100% of the time. We show more types of properties. Besides all MLS listed properties by any company - we show for-sale-by-owner, short-sale and foreclosure properties, properties that aren't advertised, and much more.

If You Become our Client - You Can Be Assured That We Tell You About the Negatives of a Home - Not Just the Positives. You Have an Unbiased Consultant and Advocate and "Personal Real Estate Coach" on Your Side....(Not a "Salesperson")

Best of All - You are Nothing Out of Pocket to Us For Our Services...

If you have excellent credit and are thinking about buying a home between $250,000 to $2 million in the Chicago Illinois area during the next 60-90 days:

In West Palm Beach Florida - a couple recently discovered that their relaxing retirement was put on hold when they discovered their new home had been built with Chinese drywall that emits sulfuric fumes and corrodes pipes. It got worse when they asked their insurer for help -- and not only was their claim denied, but they've been told their entire policy won't be renewed.

Thousands of homeowners nationwide who bought new houses constructed from the defective building materials are finding their hopes dashed, their lives in limbo.

Insurers drop policies or send notices of non-renewal based on the presence of the Chinese drywall.

At least three insurers have already canceled or refused to renew policies after homeowners sought their help replacing the bad wallboard. Because mortgage companies require homeowners to insure their properties, they are then at risk of foreclosure, yet no law prevents the cancellations.

During the height of the U.S. housing boom, with building materials in short supply, American construction companies imported millions of pounds of Chinese-made drywall because it was abundant and cheap.

An Associated Press analysis of shipping records found that more than 500 million pounds of Chinese gypsum board was imported between 2004 and 2008 -- enough to have built tens of thousands of homes.  Shipments were heavily concentrated in the Southeast, especially Florida.

The defective materials have been found to emit "volatile sulfur compounds," and contain traces of strontium sulfide, which can produce a rotten-egg odor, along with organic compounds not found in American-made drywall.

Homeowners complain the fumes are corroding copper pipes, destroying TVs and air conditioners, and blackening jewelry and silverware. Some believe the wallboard is also making them ill.

The federal government is studying the problem and considering some sort of relief for homeowners.

Homeowners have little recourse since neither the Chinese manufacturers nor the Chinese government are likely to respond to any lawsuits or reimburse them for the defective drywall.

Insurers learn of the drywall through a claim filed by the homeowner seeking financial help with its removal.

Insurance companies consider the drywall a pre-existing condition that could lead to future damage, which is why the company won't renew the policy unless the problem is fixed.

Even if a homeowner does not file a claim over the drywall and remains covered, they could later be denied a claim for a fire or another calamity if insurance investigators determine the home contained undisclosed Chinese drywall.

As Exclusive Buyer Agents - we provide expert research and negotiation for home buyers and investors in the Chicago area - covering both downtown and many Chicago suburbs. Unlike "buyer agents" - we are specialists -- always 100% on the buyer's side.... NEVER EVER REPRESENTING SELLERS!

If you are thinking about buying / purchasing a home in the Chicago Illinois area, you should ensure that you have an agent that is on YOUR side – looking out for your best interests.

Relocation Advisors Group, Inc. represents BUYERS ONLY in the Chicago metropolitan area so that you have 100% representation - 100% of the time. We show more types of properties. Besides all MLS listed properties by any company - we show for-sale-by-owner, short-sale and foreclosure properties, properties that aren't advertised, and much more.

If You Become our Client - You Can Be Assured That We Tell You About the Negatives of a Home - Not Just the Positives. You Have an Unbiased Consultant and Advocate and "Personal Real Estate Coach" on Your Side....(Not a "Salesperson")

Best of All - You are Nothing Out of Pocket to Us For Our Services...

If you have excellent credit and are thinking about buying a home between $250,000 to $2 million in the Chicago Illinois area during the next 60-90 days:

If there is to be another stimulus (i personally say - just let market forces be market forces... prices adjust..) -- the move-up and luxury markets are the ones needing the most help.

See this article for more information.

The sponsor of the original Senate bill, Johnny Isakson, Republican of Georgia, is back with a new bill that would give a maximum $15,000 credit to any buyer who stays in a home for at least two years.

The Tax Policy Center, a joint venture of the Brookings Institution and the Urban Institute.

It labeled the original credit as one of the worst provisions of the stimulus package, on the grounds that the money is a bonus for people who would buy a house anyway.

The center has an even dimmer view of extending the credit to all buyers.“Is this the best way to spend money we don’t have?” asked senior fellow Roberton Williams.

As Exclusive Buyer Agents - we provide expert research and negotiation for home buyers and investors in the Chicago area - covering both downtown and many Chicago suburbs. Unlike "buyer agents" - we are specialists -- always 100% on the buyer's side.... NEVER EVER REPRESENTING SELLERS!

If you are thinking about buying / purchasing a home in the Chicago Illinois area, you should ensure that you have an agent that is on YOUR side – looking out for your best interests.

Relocation Advisors Group, Inc. represents BUYERS ONLY in the Chicago metropolitan area so that you have 100% representation - 100% of the time. We show more types of properties. Besides all MLS listed properties by any company - we show for-sale-by-owner, short-sale and foreclosure properties, properties that aren't advertised, and much more.

If You Become our Client - You Can Be Assured That We Tell You About the Negatives of a Home - Not Just the Positives. You Have an Unbiased Consultant and Advocate and "Personal Real Estate Coach" on Your Side....(Not a "Salesperson")

Best of All - You are Nothing Out of Pocket to Us For Our Services...

If you have excellent credit and are thinking about buying a home between $250,000 to $2 million in the Chicago Illinois area during the next 60-90 days: