Shaun Greer - Investor - Sell Your House Fast Blog

Recent Foreclosure Statistics Show No Slowing Of The Crisis, But Home Sellers Have Options

Tue, 01 Sep 2009 07:39:21 -0500

The economy is rebounding, but the foreclosure sickness is still amongst us. Unfortunately, last July showed that the foreclosure numbers are still prevalent in the real estate market with more homes succumbing to the financial problems in the marketplace. If you are among many of the americans who thinksing how can I sell my house to stop foreclosure, then get in contact with a local home buyer in your area.

More than 360,000 properties filed foreclosures last month, which is an increase of 7 percent from June and a more than 32 percent increase from July of 2008. Companies like RealtyTrac are stating that Julys numbers demonstrate the third time in the last five months where there has been a new record set for foreclosures. The government is setting up programs to help individuals and distressed homeowners alike, but they are not able to save this trend towards more foreclosures to stabilize the real estate marketplace. Bank repossessions and notices of default are continuing to pour in.

Some of the foreclosed homes were a result of the end of state issued foreclosure prevention plans that had been rolled out in certain areas. For many homeowners, these plans offered too little protection too late and the modification programs have done little to help save the homes that so desperately need it. Homeowners are trying to get their loans refinanced or modified in order to protect their financial investment, but the plans are not working out as well as initial projections had speculated.

Through the end of July, RealtyTrac is reporting that there have been a total of more than 464,000 repossessions this year alone, data has been accumulated until the end of July. Delayed option ARM mortgages have been reset, which is causing more homes to default as the interest rates skyrocket on unprepared homeowners. For this reason, repossessions have increased among homes with a higher market value than other REOs in the past. The reason behind this market trend is that option ARMs have been used historically with borrowers who had better credit and were going to purchase more expensive properties.

It is no surprise that the areas still reporting the highest levels of foreclosure are those that were considered the most offensive, bubble states in the past. The home prices soared in these areas and banks financed mortgages for many individuals who would not have typically qualified for the financial backing. These states, including Arizona, California, Nevada and particular, Las Vegas, and Florida, are still recovering from the time of highest appreciation and worst lending practices during the real estate boom years. California is reporting the highest number of foreclosure filings, but Nevada, with Las Vegas as its core, is showing the highest rate of foreclosures with one in every 56 homes going under.

As news of the recovering economy trickles in the media, it is important to note that these foreclosure filings give us a stronger indication of the real estate market and how it is truly performing.

If you are in a situation where you need to sell your house becuase of the possibility of foreclosure, I suggest you get in contact with a we buy houses or real estate professinal. These real esate professionals help home owners who are needing to sell their house fast for any reason.

Home Buyers Still Investing In Real Estate And Making It Work

Thu, 27 Aug 2009 15:18:17 -0500

Okay, the real estate market has gone down and a quick rebound is not likely, or possible. Homeowners are finding viable options to continue to make money in the real estate market despite the recent changes. By adapting to the environment, savvy real estate investors are still flipping home properties with a twist. They are purchasing lower cost single family houses in areas of great potential and updating them. However, rather than putting them on the market for sale right away, these flippers are becoming landlords, renting the property to keep building equity and pay the mortgages.

How long are these new landlords renting their flipped houses for? On average, the versatile businesses are renting as long as five years or as short as only two until they can find a home buyer. They are keeping the cash from the rented properties in the short term, but are banking on the idea that an improved real estate market in the future will help them get the profits they are aiming for years down the road. Of course, this type of stalled profitability attracts a limited number of former flippers, but it is an increasing option for real estate investors.

One of the keys to success with the flip and rent strategy is to avoiding subdivisions. Typically, the targeted houses are no more than $80,000 to $90,000 and will be victims of a crashing real estate market whose values were vastly higher even a year ago. These homes need upgrades and improvements that many future homeowners shy away from. By improving these houses and then renting them, these flipping real estate investors are actually playing a role in improving the market by rescuing and improving homes whose needed changes might have been outside the scope of many property owners. Neighborhoods might have suffered with these eyesores in the past, but they are now able to enjoy an improved property in their surroundings, thanks to the flippers.

Many of the houses that are chosen for these investment and rental properties are selected if they fit a particular set of requirements. For example, many of these homes are victim of the boom and bust cycle of the recent real estate market. Their overestimated home value has wrecked havoc on the market and neighborhood in general, so this financial investment can be a great choice for both the individual investor and neighborhood alike. Also, there are specific location, price and physical criteria that many investing business will choose before they will purchase the soon to be rental property.

To find many of the houses these real estate investors purchase they use companies who privide real estate leads. The real estate leads consist of contact information from how owners who want or need to sell their house. Many of the home owners who ask to be contacted by a real estate professional are motivated to sell their home quickly.

This smart investment plan can be a great way to improve neighborhoods and allow individual real estate investors to gain capital and long term equity in a stalled and shaky real estate market. Although typically known as risk takers, these particular flipping companies are making long term, calculated investments that should pay off in the future.

If you are a home owner and are in a financial situation and thinking how can I sell my house fast, a good place to receive an offer on your house is your local home buyer or investor. There are real estate investors in every major real estate market who purchase homes quickly from home owners who need to sell. Many of the homes are in foreclosure, the owners are transferring out of the area, or the owners just need to move quickly.

Real Estate Leads - What To Look For In A Real Estate Lead Generation Company

Sat, 15 Aug 2009 14:26:51 -0500

As use of the internet has increased, so to, has its value in connecting service providers with home owners. One of the best ways to grow a real estate business is to connect with more clients by using real estate leads.

There are many ways to get real estate leads:

Direct Mail
TV Advertising
Referrals
Cold Calling
Internet

If you operate a fast pace business and do not enjoy cold calling or stuffing envelopes for new business, I would suggest internet leads. There are many real estate lead providers on the internet but just like any business only a few are worth dealing with.

Internet real estate leads have been around since the beginning of the internet. At the beginning of the internet most real estate leads were generated through mass email campaigns. Now most are generated through search engines like Google, Bing, and Yahoo.

If you would like to grow your real estate business then get started with an internet lead generation company. Just make sure you pick the right company for your needs. Over the years many real estate professionals have been taken advantage of by unethical real estate lead generation companies, so choose carefully.

Here are some tips when selecting a lead generation company. Make sure the real estate leads are only delivered to one real estate professional, meaning they are only sold once. Many lead providers sell their leads multiple times to real estate professions is the same area which makes it harder for an agent for investors to close the lead.

Make sure the leads are delivered to you within seconds after the lead has been generated. Professionals who follow up with real estate leads within 2 hours after the lead has been generated dramatically increase the chances of closing a deal.

Make sure you are only charged for leads you receive and do not pay any monthly fee or sign up fee. If a company really wants to work with you and become a long term part of your marketing they should not charge any set up fees or monthly fees.

If you can not get in contact with the home seller or home buyer because of in correct lead data the company should credit you the cost of the lead. All too often realtors and investors sign up with a lead generation company and they start receiving leads that are not quality leads. They either can not get in contact with the person or the person does not want to talk with them. Make sure you can get a refund for faulty lead information.

Foreclousre Rates - Have We Hit Bottom Yet?

Mon, 29 Jun 2009 22:07:21 -0500

One way to determine if the state of our economy is improving is by monitoring foreclosure rates. Foreclosure rates across the country vary in different regions.

Foreclosures can signal a huge change in the real estate market. While they can be hot deals for buyers looking to purchase large properties at a fraction of their valued cost, the impact foreclosures have on the market overall can be a highly negative one. Foreclosed homes are typically in disrepair and a crumbling mess long before the bank steps in to take over. In addition, selling a home that is highly undervalued will undercut overall price comparisons in the neighborhood, which devalues numerous homes in its wake.

As the economy continues to decline, the number of foreclosed homes continues to grow. While some analysts will tell you that the foreclosed homes and sluggish real estate market are signs that the real estate bubble is simply righting itself after years of a bubble inflated industry, homeowners with nearby foreclosed homes in their neighborhood and the victims themselves will often feel at a loss on how to control the negative spin.

Overall, 1.9 million homes have recently gone into foreclosure across the county. The average sale on these foreclosed homes is roughly $172,000. Of course, this number reflects both large and small properties alike, as well as homes whose owners had been paying their mortgages on time for years before the economic downturn made paying their mortgage payments more difficult.

What are the biggest markets for foreclosures across the nation? Is your state one of the areas experiencing the highest rates of foreclosure? Consult this list of states that experience high foreclosures to see if your state is one of the most affected areas:

Arizona, California, Florida, Nevada, Arizona, Michigan, Georgia, Idaho, Illinois, Indiana, Ohio, Utah, Virginia

California tops the list at over 92,000 foreclosures. Meanwhile, Florida runs in second place with nearly 59,000 foreclosures. Nevada, Arizona and Michigan each have roughly 15,000 foreclosures, while Ohio, Illinois, Georgia and Texas has approximately 10,000 foreclosures. Virginia ends the list with just over 5,000 foreclosed homes.

Foreclosed homes aren't limited to a specific economic bracket, either. Every neighborhood has become vulnerable, including high end homes in desirable neighborhoods. Many analysts blame adjustable rate mortgages or no doc loans as a major cause of the increased foreclosures. Since these no doc loans don't require verification of the borrowers' income, they pose a much higher risk than other traditional forms of home loans.

The top five states California, Florida, Nevada, Arizona and Michigan constitute the greatest percentage of the nations foreclosures in June. As the market restructures and the economy continues to adjust to financial changes, expect the rate of foreclosed homes to decease slowly over time.

After all, foreclosed homes put pressure on financial institutions to stop lending to anyone with a potentially risky financial profile. For this reason, even secure homeowners cannot sell their homes as new buyers are unable to obtain the funds they need to purchase new property on the market.

If you need are in a situation where you are thinking how can I sell my house fast, I suggest contacting a local home buying expert in your area. Local home buying experts exist in every major city in the United States. Many times these home buyers can purchase homes quickly so you can move on with your life.

Sell Your House Fast - Home Seller Checklist

Mon, 08 Jun 2009 12:03:06 -0500

With the existing home inventory index still hovering around 10 months of supply for the nation, every home owner who needs to sell their house should be ready for buyers. In an effort to get you ready for the buyers who will be walking through your doors I suggest you do some research and follow some key tips to get your home sold.

Pricing your home right is a key factor is selling your home in a buyers market, which we are in. The days of posting a sign in your front yard and receiving multiple offers in a few days are over. Home sellers need to recognize that home buyers are shopping and comparing houses to find the best deal.

Take your time in doing some research and find the best reasonable sale price for your home. You should go walk through other houses close to yours that are similar and compare the finished to yours. Make sure to check look at the price per square foot and the overall asking price.

Another great way to get a value for your house is to ask a real estate agent or a local real estate investor in your area. These professionals are following the local real estate market on a daily basis and have great insight to how much a house is worth in todays market. You know you priced your home right if you would consider looking at the home based just on the price, quantity of bedrooms, and square footage, when comparing to other homes in your neighborhood.

Your home should be in excellent condition to sell in this buyer market. If you truly want to sell your home time the time to fix all the miscellaneous repairs that you know need to be fixed. Take a tour through your attic and crawl space to double check for moisture damage and fallen insulation. Take color photos of your crawl space and attic to you can show potential home buyers the great quality of home they are getting. This goes above and beyond what other home owners are doing.

If you can not afford to fix up your home for sale then you will have to price your house accordingly. In todays real estate marketing home buyers have many choices of homes, even brand new ones that home builders are selling at a discount. It is possible to sell your home as a fixer upper but you will not net as much money at the closing table.

Marketing your home for sale is one of the key pieces in selling your home. After all you could have all the other things perfect and if no one new your home was for sale then it would never sell. Make sure to put a sign on the property and on close streets to the property. Make sure to list your property on classified websites like Craiglist, and Backpage. Make sure to put your home in for sale by owner magazines or newspapers where home buyers will be looking.

Many of the homes that are selling right now are to first time home buyers. In fact over 53 percent of the homes sold in May were sold to first time home buyers. The federal government is giving an $8,000 tax credit to first time home buyers or people who have not owned a home in that last 3 years. This is having a great affect on the homes that are selling. If your home is in the first time home buyer range you have a much better chance of selling your house.

If you are thinking how can I sell my house fast then contact your local home buyer in your area. They will give you a quick fair offer and you have no obligation to accept.

Government Needs $800M for Reverse Mortgage Plan

Thu, 07 May 2009 17:45:29 -0500

The Federal Housing administration (FHA) operates a program that guarantees reverse mortgage loans. Reverse mortgage loans allow home owners over the age of 62 to borrow against the equity in their home. Borrowers are allowed to obtain payment for approximately 60 percent of the equity in their home and allowed to received payments for the rest of their life.

The FHA makes guarantees to the lenders who give revers mortgages to elderly home owners. If the home owner lives longer than expected and home prices continue to decline the home will not have enough equity to cover the cost of the loan.

The government recently ask Congress for almost $800 million dollars of taxpayer money to provide money to the program. It should be noted that reverse mortgages are a small number of the total mortgages made each year but with the stock market taking a deep decline more and more home owners will be looking to use the equity left in their home for retirement. There will be an estimated 150,000 reverse mortgage loans made this year, up 30 percent from last year.

Another way home owners can cash out of their home is to sell their home to a local home buyer in their area. There are real estate professionals in all major areas of the nation that will buy your house quickly for a fair price. These real estate professionals are always increasing their real estate portfollio and buying homes. If you need to sell your house I suggest contacting a Buy My House real estate professional and getting a quick no-obligation offer.

Mortgage Loan Modification Data - How To Lower Your Mortgage Loan Payments

Mon, 30 Mar 2009 09:00:11 -0500

To solve the housing crisis and try to get Americans to believe in the American dream of home ownership president Obama has implemented a $75 billion dollar Mortgage Loan Modification program. This program is estimated to help some 7 to 9 million Americans save their house from foreclosure.

Since the peak of the real estate market in the summer of 2005 thousands of Americans have lost their home. Even more are struggling to make their mortgage payments each and every month. The two basic reasons are that their mortgage is now more than is used to be or that home owners are now making less income each month.

If you are finding it hard to make your mortgage payments, now is the time to take advantage of this new loan modification opportunity. The president has set up this program for regular Americans to act and stop from loosing their home. Even if you are not behind on your mortgage payment this program can help to lower your mortgage.

Whats more is the mortgage loan modification program is free. You do not have to pay anyone to take advantage of this government backed service. So how is this program being paid for, with tax dollars from every American. The Presidents plan is to subsidize mortgage payment for home owners struggling to make their montage. This in affect with stabilize the housing market and stop the real estate down spiral.

There are a couple way's the program works to lower your mortgage payments. The first option is for the government to lower the interest on your home loan so you are not paying more than 31 percent of your gross monthly income. If lowering the interest rates does not lower the mortgage payment enough then the government will actually reduce the principal on your loan or extend the length of your loan which will lower the payment.

The main reason people need to act fast and try to get their mortgage loan modified is because there is only $75 billion dollars in this government program. The total housing decrease is estimate at over $1 trillion dollars. Simple math will tell you the money in this program will go quick as many people need it.

Because the loan modification program is free, americans have nothing to loose by trying. The best situation is that you get your monthly house payment lowered to a more reasonable amount. The worst that can happen is that you don't qualify to get your mortgage lowered.

Game Changer! - Obama Mortgage Interest Tax Law

Fri, 27 Feb 2009 21:57:59 -0600

"ok", so most Americans, not all voted for our new president and wanted major change. Well major change we are getting. President Obama is make very fundamental changes in every aspect of the American life. He is changing taxes, health care, social security, banking, and almost everything else that affects our life.

I with most folks who are happy to see a change, but also not too sure large government and major change is just what the doctor ordered. I think we can all agree that change from the last president for 8 years is well do. I just have questions that too much change too fast can be too much to manage.

Now I read that Obamas new tax plan will affect the amount of money you can itemize deduct from mortgage principal on your taxes. This change comes very close to my heart and very close to all home owners.

As a real estate professional and real estate investor we all know that paying interest and leveraging properties is the name of the game. Well, if there are new tax procedures put into law that affect real estate, the game will change.

When most of us voted for a change we never signed up to pay more taxes to support a larger government. We did not sign up to have to get a loan from a bank who is operated by the government. Nothing against government but they are just not efficient. Anyone who has dealt with government knows there is a better way.

So while I am happy to see change come to our soil and bring in new vision for our wonderful nation. I can never seem to get the the answer to my lingering question.......Is too much change too fast, just too much for our government to manage?

Sell Your House For $1 and Make $15,000 - Stimulus Bill Blunders

Tue, 10 Feb 2009 14:01:42 -0600

If you have been holding your breath until you see real action by the government to halt the real estate crisis and turn back time, you may be able to breath once again. The current stimulus bill proposed by the Senate raises the $7,500 tax credit to $15,000. Unlike the House proposal, that all the tax credit taken would need to be repaid via a interest free loan, this time the money is not required to be paid back.

Another great thing is this time the tax credit can be spread over two years of taxes. So if you did not receive the full benefits of the $15,000 credit the first year you can have your accountant account for the rest the next year.

This is great news for home buyers waiting to see a reason to buy in this turbulent real estate market. Many home buyers in all areas across the nation have been reluctant to purchase a home when they are confident home prices will continue to drop. This could be the change the real estate market has been waiting for.

This tax credit is proposed to reduce the inventory of homes for sale on the market and try to get supply and demand back in line with one another. The government has tried other avenues to try to spur home buyers to purchase homes but none of the plans thus far have had a noticeable affect.

It should be noted the bill has few restrictions on receiving the tax credit. Some economists are skeptical because it is possible two separate home owners could sell each other homes for $1 each, and receive the $15,000 tax credit. We should all home the details for receiving the tax credit will be more stringent so people will not take advantage of our tax dollars at work.

We should also hope this is the moment real estate professionals, home owners and home buyers looking for a new home have been waiting for. Any decrease in supply will stabilize home prices. Once home prices stabilize we may once again see our homes value increase. It is a fact that when home values increase, the regular economy is more vibrant because people spend more money.

If you need to sell your house fast we suggest receiving a free, confidential, no-obligation offer from a local home buyer in your area. It is free and you have no obligation to accept.

Low Mortgage Rates Will Help Some Of The 420,000 ARM Mortgages Due To Adjust In 2009.

Sat, 07 Feb 2009 08:56:26 -0600

According to the Treasury Department over 420,000 home owners mortgages are going to adjust this year. These are home owners who purchased homes with adjustable rate mortgages, some of whom tried to make a quick buck off the real estate boom. Others purchased their home using a hybrid mortgage so they could afford a larger home in hopes they would be able to refinance in a couple years to a lower rate.

Well, their time has come and this year their rates will adjust. The good news for many is that interest rates are at an all time low. So low in fact they have not been here for more than 37 years. This is good news for these home owners who have these adjustable rates, it is also good news for the real estate economy os a whole. A large part of the homes that hit the foreclosure auctions over the last couple of years have been due to adjustable rate mortgages.

Mortgage rates what were at 8 percent were due to adjust to almost 12 percent this year. Now with the low mortgage rates they will increase up to 9 percent. This adjustment will still increase the monthly mortgage payment for the home owner but this is a much more manageable increase than a 12 percent interest rate would create.

The larger issue is that home values have decrease dramatically over the last couple of years. This mean home owners are not able to refinance their homes because they owe more on their mortgage than what their house is worth. This is a very large issue that we will continue to see in the real estate arena for quite some time.

The only current fix for home owners in this situation is to sell their house through a short sale. A short sale is a bank approved home selling option that lets you sell your home for less than your mortgage. Banks are willing to allow a short sale on homes that have negative equity, the home owner has some sort of hard ship, and the end buyer is able to purchase the home.

Selling real estate in this economy is directly related to interest rates. It is possible the new government that took office in february will have some sort of plan for home owners needing to sell their house with negative equity, but there is no guarantee any plan will work. If you need to sell your house and have no equity I suggest selling your house as a short sale. It is better than a foreclosure and can get you out of your house and on with your life.

$7,500 Tax Credit For Home Buyers In Stimulus Plan

Thu, 29 Jan 2009 08:10:37 -0600

Part of new president Obamas 819 billion dollar stimulus package includes new tax credits for first time home buyers. The 7,500 tax credit applies to any person purchasing a new home for primary residence only, and who has not owned a home in the last three years.

This all may see familiar as there is already a tax credit for first time home buyers in place that was created as part of the Housing Recovery Act passed in the summer of 2007. The stimulus plan simply changes the requirements of the tax credit. Now the home owner does not have to pay any of the tax credit back, as before they had to pay it back over 15 years.

So the question is, will this tax credit bring home buyers into the market and start to decrease the inventory? My simple answer is it will help, but it is not the shining bullet that will end all the doom and gloom of the real estate market. My main concern is that it is only eligible for people who have not owned a home for the last three years. This will almost undoubtedly target young home buyers who can afford only the lower houses priced in the bottom of the market.

The other main concern is that people still have an over all concern with real estate values going down in the near future. Smart people are not going to buy a house when the real estate market is going down in the near future, if they do not have to buy. It is different if they are starting a family, have a steady job, and feel comfortable with their local real estate market coming back in the next couple of years.

So, as housing prices continue to slide across the nation and the number of homes for sale increase, lets take our hats off to our new president proposing a plan to help the real estate market. I hope that it does not stop here but at least we have someone who understands our national and global economic situation and is willing to risk his reputation to help average every day people.

As always, if you need to sell your house fast because of foreclosure, loss of your job, being transfered, divorce or any other reason, the fastest way to sell your house is to contact a local home buyer in your area. They can give you a free offer for your house with no obligation that you have to accept. They are still buying houses because they are able to hold on to properties for long term investments.

Agents Who Use Real Estate Leads Do More Business

Sun, 04 Jan 2009 13:55:09 -0600

One of the most often asked questions from real estate agents I consult is how can I grow my business to the next level. The real estate agents who are asking me this question are educated, experienced realtors who have paid a hefty price for my time and who already close many houses each month.

Almost all of them already understand the 80 percent, 20 percent rule and are having someone else do almost every thing in their business except generating real estate leads and showing up to closings.

When you look at the sales cycle that a real estate agent and home buyer or seller go through it is very strain forward. The real estate agent is contacted or contacts the prospective client, they have a sit down meeting to discuss goals of the transaction and this is when it happens. One the potential client has meet with the real estate agent, the agent almost always gets an agreement signed stating the client is being represented by the agent.

So, to produce more sit down meetings with prospective clients all an agent has to do is get more real estate leads or potential clients. This is where real estate leads come into the business cycle. More leads means more potential clients to sit down with and help through the buying or selling process.

There are many ways for realtors and real estate brokers to generate their own real estate leads, but this goes against the 80 percent, 20 percent rule. The obvious answer is to find a reputable real estate lead generate company to send a consistent number of motivated real estate leads to your or your company.

Notice the word motivated in my sentence. Many real estate lead generation companies do not target motivated home sellers or buyers and they sell these leads to realtors who then waste time talking with non motivated clients. You need to make sure the lead generate company you are dealing with is generating motivated home buyer or seller leads, meaning they are looking for someone who help them now and are willing to talk with a professional real estate person.

There are many real estate lead generation companies, and each company has their own business plan or lead generation method and sale system. My suggestion is to ask the company where and how their leads are generated so you feel comfortable the real estate leads you will be receiving are motivated home buyers or sellers.

Then ask what the conversion rate is for the companies leads. A good lead generation company will have around a 20 percent conversion rate. Meaning two out of every ten leads will end up listed or a buyer representation agreement will be signed signed.

One you have a conversion rate and the cost the company charges for each lead you can come up with a budget for your leads. One suggestion I would make is to insist there is no cancellation fee for their service. The is to protect you from the no so generous and honest companies that exist in this market.

Real estate leads are by far the best way to grow your business to the next level. You increase the number of clients you work with. This also allows you to increase your network of new clients. Ask the leads if they have any family or friends who need a professional real estate agent to help them in their next home search or sale.

When will real estate recover?

Sat, 27 Dec 2008 15:42:34 -0600

As 2008 is coming to a close many american home owners are asking a few real estate questions. When will real estate recover to prerecesion times? When will I be able to sell my house for a profit and is 2009 the year home values will start to increase?

Since the peak in real estate prices and home sales in summer of 2005 many home owners have been loosing equity in their home. It seems each month is another indicator that real estate prices are not increasing and foreclosures continue to increase. But with each month that goes by, we are one step closer to hitting the bottom of the real estate market.

Many factors point to the bottom of the real estate market, on a national level hitting bottom in 2009. There are a few major developments that bring light to a dark alley when thinking about the over all real estate market in 2009.

One of the largest indicators that home values will start to increase this next year is the inventory of homes on the market. Last month new construction for homes was at 730,000 its lowest point since 1975. In almost all the major metro areas across the nation home inventories are starting to decrease which will increase home prices. See your local area inventories at housing tracker.

Recent decrease in foreclosure fillings due to the government help will also play a large role in real estate prices hitting bottom this next year. which the new president Obama stepping into office at the end of January a new light and vision for real estate and america will start to take place. President Obama has shown interest in solving the housing market issues because he is aware that housing is vital to the Unites States economy.

So if you have a home that you are living in and are waiting for real estate to recover, cross your fingers that 2009 will bring a new year and recovering home prices. I am optimistic that we are near a bottom of the market and things will stabilize in the summer or second quarter of this next year.

Always remember that real estate is a local market and each area of the nation is different. Some parts of the nation are actually seeing increases in home prices this year. Just another reminder that you need to seek professional advice when buying or selling real estate. You need to get accurate new data, especially in a changing market like we have today. If you need to sell your house fast you can contact a home buyer in your area.

Mortgage Rates At 1975 Low!

Thu, 18 Dec 2008 19:14:03 -0600

This week marks a new low for mortgage rates. Mortgage rates are at a 37 year low. Rates have not been this low since 1971. The federal government decreased interest rates for the seventh consecutive week. This is an all out attempt to bring home buyers into the market and take some inventory off the shelf.

The thought is lower interest rates will bring home buyers out from the bushes and the side lines. It will also help the many home owners who have home equity lines of credit on their homes. HELC interest rates usually move up or down with the prime interest rates.

This week housing permit data also came out, with good news and bad. The results state November as the lowest housing permit month in history since 1975. The good news from this data is less homes being built mean some of the existing homes sitting vacant on the market will be purchased. The bad news is if home building permits are going down, it suggests local economies are struggling and decreasing as well.

It takes many trades and people to build homes. Plumbers, electricians, framers, engineers, designers, project managers, and the list goes on. With less homes being built these people have no where to work and that is not good or the economy.

So with all the bad news about the real estate market many questions come to mind. When will the real estate market find a bottom? When will we stop seeing more foreclosures across the nation? When will many of americans largest investments start seeing positive returns rather than declines in the double digits?

There is no one or two pieces of data that can lead you to the answer of when the real estate market is going to turn around. There are however a few economic factors that you can track locally to determine where your local market sits. Here are a few economic factors I suggest you track on a monthly basis. Rate of new house building permits, rate of existing homes sales, rate of foreclosures, and interest rates.

If you track these items on a monthly basis you should have a pretty good idea of when the real estate market will hit bottom, or when it does. When building permits increase, and existing homes sales increase it is a sign that better times are ahead.

For now if you are in a home that seems impossible to sell I suggest contacting a local home buyer or we buy houses representative in your area. They exist in every major city in the nation. They are not real estate agents but investors who are professional home buyers. You can talk with them at no cost and they can give you great advice about your best home selling options.

Foreclosure Rates Drop In November, Could This Be The Beginning Of The End?

Sat, 13 Dec 2008 11:35:33 -0600

In November 2008 the foreclosure rate dropped 7 percent. Could this be the beginning of the bottom for foreclosures? Anytime you look at statistics or analyze data you get different answers depending on how much data you look at. In this instance only looking at one month, the month of November would lead you to believe that foreclosures are starting to slow. Look at 3 to 4 months of data and you will find a different answer.

One possibility of the slow down in November is the foreclosure moratorium that Fanni Mae and Freddie Mac have put on repossessions of homes and foreclosures. In an effort to keep more home owners in their homes and slow the foreclosure rate these two, now government owned companies have stopped foreclousre repossessions for a 90 day period.

over 78,000 home owners lost their homes in the month of November. This is an enormous number of people, now out on the street. This is down almost 8 percent from the month of October with over 84,000 home owners loosing their home to foreclosure.

Since the housing market took a steep dive from its peak in August of 2007 over 1 million home owners have lost their house to foreclosure. You can make a claim that many of these people over purchased and that is the reason they are loosing their homes now. The fact is not all of these people can be sub prime mortgage holders and over purchased.

Only the months ahead will let us know if the foreclosures are starting to slow. My opinion is the foreclosure rate will hold steady at an alarming rate until the government can do more to keep people in their homes. When our new american president Barrack Obama takes seat in January lets home real estate is one of the issues he tackles to get our economy back on the right track.

In the mean time if you own real estate and need to sell your home, I suggest you find a local home buyer in your area. There are still people who are buying new homes, growing their family and starting their life. Everyone wants to own their own home, if not for a long term investment then for comfort.

Mortgage Applications Drop After Surge

Wed, 10 Dec 2008 23:38:27 -0600

Last week a move from the federal government caused interest rates to decrease to a very low rate. Mortgage companies noticed the increase in refinances from traditional home buyers who were taking advantage of low interest rates to save cash flow ever month.

One thing you have to consider when going to refinance a home is that it is not free. It actually cost about 4 percent of the loan amount to close a refinance. This percentage is cost to pay the closing agent, loan agent or broker and possibly some taxes or closing fees.

One week after the mortgage industry saw a surge in mortgage applications for refinances, the application numbers are back to normal. The percentages went from 112 percent to 7.1 percent in one week. Refinances made up over 73 percent of the total applications.

Last month the federal government set a plan to buy 500 billion of mortgage backed securities and another 100 billion of debt issued by government sponsored financiers that have recently been taken over, Fannie Mae and Freddie Mac. This is what caused mortgage rates to decrease so dramatically. Possibly a good move by the government to bring more home buyers into the market.

After announcing the plan the 30 year fixed rate mortgages went from 6.19 percent to 5.57 percent. This small move in interest rates can save or shave thousands of dollars off of a home loan. As long as the rates stay this low, home buyers will be able to afford more home for the money. Especially if they are comparing homes from two years ago to today.

For those people who have homes that they need to sell a house and can not afford their current mortgage, the lower interest rates can help also. Many home owners have HELOCs or second mortgages on their homes. When the over all interest rates go down so does the interest rate on a home equity line of credit. As stated before this small decrease in interest rates can save hundreds of dollars each month from a mortgage payment.

Lets home the next administration tackles the foreclosure crisis head on so the housing prices stop going down. When housing prices stop decreasing and start to increase, the over all economy will start to come back to life. Home owners will not feel like they are wasting money each month, paying for a decreasing asset or liability.

Ada County Tax Assessor Wrong Again - Assessment Goes Up While Home Values Go Down?

Wed, 26 Nov 2008 15:00:06 -0600

Well, its that time of the year again. Everyone in Ada County will be receiving their tax assessment notice in the mail. When this should be the time of year spent with family, reflecting on the great memories made over the year and giving to people in need, we can not forget about the time and commitment we have to dedicate to disputing our Ada County homes tax assessed value.

It never seems to amaze me how the Ada county tax assessor gets it wrong. In fact, are we even sure he lives in the Treasure Valley? It is common knowledge that home values in the Treasure Valley and specifically Ada County and Canyon County have gone down over the last 3 years. Home values peaked in summer of 2005 and have been on a down hill slide ever since....so how come our assessed value keeps increasing!

...Because they can get away with it. It is a numbers game. They will increase the tax assessed value of thousands of home owners, make the tax assessed value dispute process grueling, confusing, and almost impossible for many, thus take more money from people like you and I, (tax payers), to pay the assessors salary.

So, What Can You Do?

Here is what the Ada County Tax Assessor States You Need To Do: "If you feel that your assessed value is higher than what your property would probably sell for on the open market, then we encourage you to submit market information to support your position. The appraiser assigned to assess your property will consider any evidence you wish to submit. Typical market information comes in the form of a realtor's comparative market analysis, copies of independent appraisals done for sales or refinance, repair estimates or any other pertinent data".

As you can see they specifically state that typical marked data comes from a real estate agent or a property appraisor. We all know that nothing is free in this world, so the County assumes you will not waste the time, money and energy on disputing your homes tax assessed value.

I wrote this blog not out of anger but out of frustration. Everyone knows property values have been going down over the last few years, yes even Mr. Tax Assessor knows it.

I urge you to take the time to review your tax assessment notice. If you see that your homes value has increased you may want to file an appeal. After all, it is your money they are taking.

Here is a link to the Ada County Filing An Appeal Page. There you will find a link to the appeal form.

If you need to receive market value information for your home please e-mail RealEstate@ExpertHomeOffers.com with your contact information and property address.

Please feel free to comment on this blog; let us know how you fee and if your assessment is over valued.

Sell A House In A Buyer Market

Thu, 02 Oct 2008 13:17:36 -0500

The real estate market has not just slowed down, it is almost standing still. Each and every month there are more houses on the market for sale and les homes are sold. So how do you sell a house fast in the very slow real estate market? You have to find and receive an offer from the right home buyer for your house.

When it comes to selling your home you have very few options, especially if you need a quick sale. You can try to sell your house by yourself with a for sale with owner company. You can list your home with a real estate agent who will put your home on the multiple listing service and hope for a buyer. Or you can sell your home to a real estate investor who buys homes fast from motivated home sellers.

There are many reasons home owners need to sell their house quickly, hare are just a few.
Going through a divorce
Need to stop foreclosure fast
Inherited a property
Your house needs fixed up
You are being transferred by your job
You do not have enough equity to pay realtor commissions
You mortgage is going to adjust and you will not be able to afford the payment
Recent loss of job

The real estate market is very slow across the nation. The home that you used to love can quickly become a huge life anchor limiting you from happiness. This is why I recommend receiving a free, confidential, no obligation offer for your house from a local home buyer. They exist in every major metro market in the nation and they buy houses fast.

Not all real estate investors are out to take advantage of home owners. Many are hard working individuals who make a living from solving complicated real estate situations.
So in order to sell a house in this current economy I suggest using the sometime less obvious way to sell your house, your local home buyer. You will not have to pay any money and you can move from your house quickly.

When Should I Buy My Next House

Mon, 18 Aug 2008 22:52:16 -0500

As if the home buying process isnt nerve wracking enough, an unstable market presents unique challenges to future home buyers. With the steady stream of bad news, increased foreclosures and tightened restrictions on mortgages, it can be more difficult to buy a new home now than it has been in the past. Lenders are getting picky and it can spell bad news for those individuals on the house market.

If you already qualify for a mortgage, however, and have a good income with strong credit, you can be in a prime spot to purchase a home. With declining home prices and an established mortgage, the house market is not as treacherous for established homeowners as it can be for first time buyers. There are some tips and tricks, however, to help you stay within a safe area for your future home purchase despite an unstable market scenario.

Do not over reach yourself with a large mortgage. It might be great that you can afford a certain price on paper, but you need to take the time to work out how much your mortgage payments will actually be each month. Can you afford to have this as a monthly expense while still saving for your retirement, college, increased portfolio, or a new car? What are the bills that will accompany a house that is that large? Can you afford those along with your mortgage? What are your annual taxes? Know this information before you get too caught up in a big number that will mean little to you until you break it down in monthly installments.

Real estate agent differences can affect home buying as well. All real estate agents are not the same. Some will call you regularly while others prefer to stay quiet until they have found the exact right house for you. Ask a number of questions to your potential real estate agent to find the one that is best suited to your personality. Do they experience with title searches? Can they help you spot potential problems with the property? Having a good real estate agent that fits your personality will make all the difference in your future home shopping experience.

Even the best real estate agent can miss some things. Look online to find crime statistics, school districts, home prices and comparables. You can find an array of quality information about your future potential neighborhood by taking the time to search online. If you are armed with this extensive knowledge, you can make better deals and know what you are getting into with your future home. Look for virtual house tours and extensive pictures. Check out the neighborhood, the annual taxes, and much more at the touch of your fingers.

Walk the Streets of your future neighborhood. No matter how much information you find online, you cant really know a neighborhood until you spend some time there. Look for open houses in the neighborhood that are not the property you are interested in to see other homes in the area, meet the neighbors. Drive through your future neighborhood at all hours of the day to see what kind of neighbors you would have. Are there a lot of kids, working parents, or older couples? You can find this out through your frequent drives.

Negotiate with the home sellers of your future home. You do not know what the sellers situation might be and it never hurts to try to negotiate a lower price. Although it might insult them and you could lose the house forever, some home buyers have found that asking for more in their offers has been very successful for them. If the seller is under a lot of pressure to sell or has had few offers, they might be more willing to listen to your demands.

Up front, foreclosed properties might seem like a steal. They are much less expensive and can be a great deal when it comes time to sell. However, if the homeowner has been unable to make their mortgage payments, it is highly likely that they have been able to keep up with the general maintenance of the home itself. You will have to purchase a foreclosed property as is many times and you could be stuck with a property that has larger issues than you are willing to deal with.

When you purchase your next house, get into a mortgage you can afford. Especially for first time buyers, getting a good mortgage and knowing which lenders are right for you can be tricky. There are unethical lenders out there offering deals that are literally too good to be true. Finding a good mortgage and lender can ensure the stability of your financial portfolio and home status. If you are caught with an unsavory lender and something bad happens in the future, the status of your home and ability to secure another mortgage will come into question. You could lose everything due to bad choices made now with your mortgage company.

Get a home inspection. You need an unbiased view of the property you are about to buy. In order to ensure that you know of all your propertys potential problems up front, it pays to get a great home inspector. You want to be able to trust the person and know that what he or she says is legitimate. If your home inspection finds problems that far exceed what you are willing to deal with, you have the opportunity to back out before it is too late. The home inspection is the smartest way to buy a home no matter what the economic situation is.

Finally, buy your home with a long term plan in mind. A home purchase is a huge investment and the savvy buyers look to find a house that will fit them now and years down the road. You can invest in your home and make any necessary upgrades to help you grow with the property, but staying with your home will help to increase your investment and make you more financially secure in the future.

If you have bad credit, consider purchasing a house through a lease purchase or rent to own. Now is a great time to purchase a house at a fixed purchase price, and rent the house until you can afford to get your own mortgage. This gives you time to raise your credit score which will lower your monthly payments by getting a better interest rate.

How To Sell A House In Houston Texas Fast

Mon, 11 Aug 2008 12:25:30 -0500

Home prices in Houston Texas have held steady while the rest of the nation is seeing an over 7 percent decrease in home prices. In the 1st quarter of the year Houston Texas saw an increase in home prices of approximately 0.8 percent. The median home price is now 148,400. This is good news if you live in Houston.

Although there is good news if you are a home owner in Houston, 0.8 percent is not much of an increase and if you purchased your house at the peak of the real estate market you can be sure that this slight increase has not had much affect in your home value. In fact even with the slight increase in home appreciation there are still many home owners who can not afford their mortgage and are falling into foreclosure.

If you are from Houston Texas than you know the hard situation you are faced with if you need to sell your house. If you purchased your home recently you probably owe more for your house than what it is worth. You can not afford your house so you know you need to sell it, the problem is who do you sell to?

Well believe it or not there are home buyers who are buying houses in Houston. Many people do not know that professional home buyers or real estate investors buy houses throughout the nation. Home buyers are real estate investors who some times buy properties and hold for long term investments, thus allowing them to pay more for your house.

If you owe more for your Houston Texas house than what it is worth then you should consider selling your house to a professional home buyer. They will negotiate with the bank to get your name released from the mortgage and complete a successful short sale. This way you will not get a foreclosure status on your credit report, which will save you lots of money and hassle in your future.

You should also consider contacting a professional home buyer if you need to sell your home fast. If you are behind on your mortgage payments, being relocated by your job, inherited a house and now want to sell it, going through a divorce, or have family health problems and need to sell your home.

There are many ways to sell your house. You can sell it For Sale By Owner, list your home with a real estate agent, or you can sell your house fast to a local home buyer. Some times the fastest and best way to sell your house is to sell to a real estate investors. This allows you to get your equity from your house fast and move on.

So if you own a Houston house, or any house for that matter and are near foreclosure, or need to sell your house for one reason or another, do not give up. Contact your local home buyer and get a free consultation on your home selling options. There is no charge for any services provided by professional home buyers so you have nothing to loose.

Falling Real Estate Prices Taking Over The Economic World

Wed, 06 Aug 2008 22:42:22 -0500

When will the falling house prices finally plateau? This question is on the lips of a number of real estate market analysts and investors who are looking for the promised turnaround in a housing sector that continues to disappoint. Although regulations are becoming more stringent in the lending market and the real estate sector has seen some overall positive trends, the big factors of foreclosures and a reticent buyer attitude has continued to make property prices fall.

Some home analysts are wondering where the bottom prices are. For millions of American homeowners, the same question is being analyzed. With a stalled real estate market, homeowners are sitting tight, waiting for the storm of failing prices to past. While they wait, their home equity is slowly sliding by and the value of their home dips more and more. Many potential home buyers have decided to wait on the sidelines rather than risk selling their home for too little of a profit. And for those individuals who are in the market for their first homes, the unsteady market has played a role for these non-homeowners as well. The ability to secure a mortgage, and establish a good rate, has proven to be trickier as the market continues to spiral downward.

Last week, the National Association of Realtors stated that the median price of homes decreased 6.1% compared to a year ago. Sales from the previous month had also fallen 2.6%, which was a higher percentage than had been previously estimated by experts.

What hope lies on the horizon for home buyers and sellers alike? Fortunately, there are major housing packages that are currently in Congress that can help to turn the situation around. A beneficial package was passed by the House last week that would boost the market by assisting first-time home buyers.

However, analysts state that there are a number of factors that could make the housing market go up or continue to fall in the future. One of these factors is foreclosures. The increased wave of foreclosures has given banks a higher inventory of these properties. In turn, the banks have become eager sellers, wanting to get their foreclosed properties off the books as quickly as possible before prices fall again. However, the surplus of motivated sellers and a stale feeling coming from the potential buyers has locked a number of potential sales. As long as the lock continues, the prices on the properties themselves continue to drop down.

Rising energy and fuel costs coupled with poor mortgage situations have been to blame for the rise in foreclosures. However, so long as this trend continues, the drop in prices will follow suit. In addition, there is the question of over-saturation. During the real estate boom years, new housing developments sprang up quickly and were bought even faster. With the halt in the housing market, however, these projects are now additional surplus with reluctant buyers, leaving these homes vacant or worse, unfinished. As long as these trends continue, the prices in properties will continue to drop until more positive steps are taken.

If you are thinking how can I sell my house fast to get out from under this large mortgage, contact your local we buy houses professional. They existing in every major metro area and will give you an offer for your home. Their service is free and there is no obligation for you to accept their offer.

The Trouble with Mortgages

Mon, 04 Aug 2008 20:28:49 -0500

Have you been looking for a new home lately? If you are one of the lower numbers of Americans looking for a new home and a new mortgage, you might be in for a surprise. New mortgages have gotten more difficult to secure as the housing sector fights to eliminate the defaulting mortgage disasters that have dictated the market activity lately.

While new mortgages might be more scarce, the long-term impact of more stable mortgages cannot be underestimated. Much of the trouble in the housing market currently is due to poor choices by uneducated home buyers and shady practices by lending businesses who were looking for a quick profit without regard to the overall impact these unstable mortgages would have on the economy.

The recent troubles of Freddie Mac and Fannie Mae are in direct result to the ailing mortgage market. Borrowers are paying for the mistakes of others by paying roughly 10% more in monthly mortgage costs. Why the higher costs for people that have not defaulted on their own payments? These additional costs are the answer to the lack of confidence in the real estate market. In other words, not only are new mortgages more scarce, they cost more as well, doubly hitting new home buyers. Unfortunately, these negative aspects do nothing to stimulate the stagnant real estate market as a whole.

The cost of borrowing money has increased as businesses like Fannie Mae and Freddie Mac have had to borrow money in the bond market to pay for the current mortgages they have received from lenders. As the negative financial situation of Fannie Mae and Freddie Mac sustains, the additional costs are filtered down to lenders looking to establish a new home mortgage. Also, as it is more expensive for Fannie Mae and Freddie Mac to obtain mortgages, it will increase overall mortgage rates as well.

Last summer, the 30-year, fixed-rate mortgage was roughly 1.5% higher than the yield on a 10-year Treasury note. Now, the rate is about 2.5% points and have increased .3% since late June alone as a reflection of the troubles of Freddie Mac and Fannie Mae.

More and more lenders are tightening their standards, either because of their own reluctance to get brought into the current mortgage mess or because of new government standards that will most likely dictate the new regulations. Some of the new standards include escrow accounts for taxes and a more thorough review of the future home buyers income and ability to pay the full mortgage payment each month. As more and more lenders are scared they will lose mortgages, they are demanding that current applicants provide a very clean and precise application to avoid future complications.

Initially, when the mortgages problems began, the government called on Fannie Mae and Freddie Mac to help with assisting lenders whose loans were defaulting. Now with the questionable status of the Fannie Mae and Freddie Mac government sponsors, there is a risky and worried feeling in the marketplace, calling into question the ability of these sponsors to help lenders at all.

The Pain of Home Over-Improvement

Sun, 03 Aug 2008 20:27:45 -0500

Upgrade your kitchen and master bath and you will instantly see a high financial payout is the common wisdom in the home improvement market. But putting in high-end appliances and upgrades to your home does not instantly ensure a full recoup of the costs plus profit. There are other factors involved in a smart home improvement plan.

Updating a kitchen with all of the latest high-end materials like granite countertops and cherry cabinets used to be a sure-fire way to improve a home, and its price on the market. Nowadays, however, home sellers are discovering that they might have taken on too many home improvements and priced themselves out of their neighborhood.

There is much more inventory on the market currently than there was during the real estate boom. For this reason, home buyers are less and less impressed with granite countertops and custom design work. However, for the sellers who have spent thousands with the hope that the improvements would help them sell their homes fast and for more money, a nightmare awaits. Upscale renovations are now returning roughly 70% of their initial costs, giving many home sellers a startling shock. Sellers who have thought their upgrades to be a sure thing are instead left wondering what went wrong.

The danger and pain of over-improving a home is growing. Fewer and fewer high-end projects are seeing the profits that were promised and investors are not seeing the return they expect.

An upscale bathroom renovation can cost an average of $50,590. However, analysts estimate that only $34,588 can be added to a home value, making only a 68.4% return. In 2006, bathroom renovations would show a 72.8% return. Kitchens can have a better return overall with roughly 74.1%.

If a homeowner is making the changes only to help with the home sale and price, the results might not be what they expect. However, if the homeowner wants to upgrade the kitchen, bath or overall layout of the home for themselves as well as future home sales, these renovations are the smarter move. These homeowners can enjoy the upgrades and recoup their costs in future sales years after the renovations have been completed. In other words, if you do upgrades for your home for yourself and your family, you are making the smart investment. If you are making these changes only for a no-name sellers increased interest, you will not see a big return on your investment.

The impact of these reports on negative returns on upscale improvements has shown a decline in the demand for high-end materials. The demand for luxury appliances declined from 65% to 47% in 2007. Items like wine refrigerators decreased from 53% to 49%.

Where are the upgrades that make the most sense for your property? Increasing curb appeal is always a smart move. With a strong curb appeal, the property is more apt to get serious buyers who are interested in the home. The return on these investments can be up to 88%, but if the curb appeal secures your future sale, it is worth every penny.

Smart Real Estate Improvements - Windows

Tue, 29 Jul 2008 21:32:03 -0500

There are a number of quick and easy tips and tricks you can do to improve your home. Before you start making changes, however, analyze if the change you want to make will have the impact that you are looking for. After all, sales pitches can sometimes fall short of your reality and knowing what you are getting into beforehand can help you make the right choices for your budget.

Changing old single-pane windows to the new double-pane ones can be a smart upgrade for most homes. However, you may hear the enticing statistic that just by changing your old windows to the new, more efficient versions you will cut your heating and cooling bills by 50%.

While the new double-pane windows will be twice as efficient for your home, windows only make up a portion of your homes frame. If you have fewer windows, your energy savings will be proportional to the space covered by these new double-panes. If you have just a fraction of your home using window space, your energy savings might only be 25%. Considering that the price of installing new windows can run as high as $1,200 per window, you will be long gone before your new windows pay for themselves in saved energy costs.

On the other hand, if you need new windows, it makes sense to get the more energy efficient ones. Also, you can use the double-paned items as a future selling point if you plan sell property in upcoming years. For this reason, the choice for double-pane windows would be a smart move. However, if you are installing the windows in a home with less window space only to enjoy reduce energy costs, the price might not be worth it for you.

A recent study from the 2007 National Association of Realtors showed that many sellers got close to 80% of the cost of new windows back with the sale of their home. However, character can make a big difference. If you put in the wrong windows and lose some of your homes architectural style, you can see the loss when it comes time to sell your home.

Look at the current pattern of your windows. If they are multiple pieces of glass separated by dividers, you should consider putting in new windows that feature the same pattern. If the cost of true divided windows is too much for your budget (custom windows can start at $2,000), look into the standard solution of snap-on grilles that give the appearance of divided glass from the inside.

Keeping the character of your home overall is a very important step when considering upgrades and changes to your house. Removing built-in cabinets or mantelpieces can strip the home of the intrinsic value that future buyers are looking for, so before you make any upgrades that involve removing some of the older details of the home, think about the future. Downscale the home and you will be downscale the price as well.

The Lack of Foreclosure Help in Georgia

Wed, 23 Jul 2008 18:16:29 -0500

Its been debated. Its been argued. Now, after more than a year of debating, Congress seems set on passing a bill that will help to stop the increasing numbers of home foreclosures in the real estate market. This bill would hopefully stabilize a very shaky real estate and housing market, and benefiting the economy as a whole.

The impact of the rising foreclosures on the overall economy has been widespread and wholly negative. Cities like McDonough Georgia, Stockbridge Georgia, Atlanta, and Augusta Georgia, are far from being affected. As more and more homeowners realize they cannot afford the ticking time bombs that define their mortgages, the number of defaulted mortgages increases. The government has decided to finally step in and provide assistance that will prevent more foreclosures in the future, as well as assisting those individuals in need of help right now.

However, housing expert analysts state that even if the latest bill passes in Congress, the most optimistic forecasts show that only 400,000 of the ailing 3 million homeowners will be saved. The rest will still be stuck in the poor economic state they have found themselves in. In other words, the bill will alleviate some of the troubles, but will certainly not be enough to stem the tide of foreclosures overall.

The latest news coming from Fannie Mae and Freddie Mac have complicated matters for the bill and for homeowners alike. The Bush administration has added on assistance for these government backed sponsors to the housing bill, which has caused some negative reactions within the government, particularly among Republicans.

The increase in foreclosures has caused an overall decline in home prices. Since the majority of a homeowners overall financial portfolio is in their home equity, a downturn in home prices has dictated a loss in overall economies for families across the country. The addition of vacant homes and slower housing market has also left many construction companies and development planning business in the lurch as fewer and fewer new home sales are being reported.

One proponent of the new housing bill suggests that 4 billion should be spent in communities with a high number of vacant homes to buy and refurnish these properties. The idea behind the funding would allow these properties to be rented and keep them from becoming the new homes of vagrants, drug dealers and homeless people. The presence of these empty homes can bring down the overall value of a neighborhood, affecting even those homeowners that have not defaulted on their mortgages.

Opponents to the bill argue that putting tax dollars to buy foreclosed homes helps only the ailing lenders, but not the overall homeowners who have lost their home and equity. At the end of the day, the 4 billion would go towards these businesses rather than the citizens and homeowners who need it most. A better use of the money, opponents state, is to revise mortgage costs and help them to refinance their mortgages to keep their homes and stay afloat in the troubled market. Overall, efforts are being considered to help the failing housing market and those homeowners struggling to make their monthly payments.

If you are currently thinking, how can I sell my house in McDonough Georgia, sell my house in Stockbridge Georgia, sell my house in Atlanta, or sell my house in Augusta Georgia, then consider contacting your local home buyer. These professionals exist in every major metro area and are real estate professionals. They are real estate investors who solve complicated real estate selling situations and offer hope to those Georgia home owners who are about to loose their house.