John Mulkey, Housing Guru

Legislation introduced this week and supported by The National Association of Homebuilders, NAHB, has proposed establishing a loan guarantee program for builders and developers that would be administered by the Treasury Department. According to the bill’s sponsors, the program would help “unfreez...

According to David Stevens, head of FHA, the U. S. housing market is on life support. In an article in Bloomberg Businessweek, Stevens is quoted as saying: “This is a market purely on life support, sustained by the federal government.” He went on to say that the FHA’s monopoly of residential lend...

As U.S. consumers try to dig their way out of the worst recession in decades, many have sought help from their lender; but requesting a loan modification may be financial suicide. Unfortunately, many struggling homeowners often find the “cure” to be worse than the illness. An article in the SF Ch...

Great advice from Lina Robertson.  Instead of focusing upon the dark side of the market, successful agents are creating their own "winner's circle."  “IT’S NOT WHAT THE MARKET IS DOING – IT’S WHAT I’M DOING”   Lately, I’ve had several conversations with other REALTORS® in my area lamenting about ...

The attached article from BiggerPockets.com, while somewhat “tongue in cheek,” offers some good insights and cautions for those looking to build or buy a home that is sustainable or environmentally friendly. The article looks at “green” building practices from a “Godfather” approach, better under...

For those waiting for a Homebuyer Tax Credit refund, the wait may sometimes seem forever; and for some it will be. After receiving thousands of fraudulent claims last year, the IRS has slowed the process and is scrutinizing returns looking for errors or deception, with many returns going through ...

While commenting on a great POST by Paula Hathaway, The Downside Holds An Upside, I realized that I couldn’t properly express my response in just a comment and decided to write this post. I agree with Paula that we need to spend more time focusing upon the positive events in our lives, rather tha...

In a report from the Mortgage Bankers Association, mortgage purchase applications have fallen to a 13 year low. And while the interest rate for 30-year fixed-rate mortgages have declined to the lowest level in six months and remain near historic lows, the low rates are not providing incentive to ...

With the Census Bureau’s release of the April housing data, perhaps we should put the housing starts numbers in context. Most of my readers are now aware that I’m neither a housing nor recovery “cheerleader,” that is, I don’t believe that the economy is close to rebounding to the levels of three ...

Are we now getting the first indications that the housing tax credit may have done no more than kick the proverbial can a bit farther down the road? With mortgage applications falling last week and home prices dropping in many areas of the country, it appears that the housing tax credit may have ...