Today, even NAR (they're located in Chicago...did you know that?) couldn't hide it anymore...the real estate market is having some small problems...(click to read story).
SALES ARE DOWN, NATIONWIDE, 27%! (story in AOL Daily Finance by Joseph Lazaro)
So, I predict that we will soon, very soon, hear the rumblings of Homebuyer Tax Credit Part Deux. This time they may even allow investors (those evil guys who buy low and sell high)(FLIPPERS) to buy and receive the credit...then they might even allow the next buyer (FLIPEE) of that property to get a second credit.
BUT WHY, PRAY TELL, NOT JUST MAKE SHORT SALES MORE EFFICIENT? This would clear out all of the unsold properties and pent up inventory.
Many of the things that the Congress and Fed have been doing are either illegal or walking the line so closely that they appear illegal...why not just order the banks that they have Nationalized to resolve all requests for short sales within 60 days of their receipt of a bonified purchase offer?
What nice family buyer, in their right mind, is willing to wait six to eight months to see if the lender/investor will be kind enough to sell them one of the thousands of homes carrying their non-producing loans?
The real estate market doesn't get better unless and until JOBS come back to our American economy...however...right now there is some demand and that desire to own should be rewarded by streamlining the entire process.
And if Congress wants to throw in $10,000 to boot...we MUST have the money, right?
DON'T WORRY...BE HAPPY...DON'T WORRY...BE HAPPY...DON'T WORRY...BE HAPPY...
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THOMAS WAITE REAL ESTATE BROKER
PO BOX 3205, CYPRESS, CA 90630
714-895-2174 Direct; 714-398-8292 Fax Tom@TomWaite.com