MY SENSE ON THIS MARKET REPORT. "Lease Back From The Banks????

By
Real Estate Sales Representative with RE/MAX Metro Real Estate Services

MY  SENSE ON THIS MARKET REPORT.

Back in July 2008 Barron's cover story viewed the 21% decline in the inventory of unsold new single-family homes from  2006 peak as a sign the housing glut was easing-up.

They have been wrong before as we can see. Where are we now in 2009?. There are no guaranties that the market will easing-up by 2010.

We steel see our labor market and the California budget crisis as an element for keeping our housing market on the up's and down and no say when prices will stabilize. What would happen now that our State Governor is contemplating on  bankruptcy our State or become a Federal Territory?.

Peter J Wallinson a fellow at the American Enterprise institute stated in 2008 that shrinking the Fannie and Freddie portfolio could take 3 to 5 years.

Despite the bad news or good news, the credit crisis has not reached its climax after Fannie and Freddie support bailout package. Not to include B Of A and many other banks.

Now Fannie is coming with the idea of offering homeowners to lease back their own delinquent homes to reduce the amount going in foreclosure.

Are they helping homeowners or helping them self by not having to reduce the mortgage balance to the actual market values. This is very complicated. Buyers be aware

This is a shadow correction and not a natural correction of the housing market.

If you have any questions or concerns in reference to your homeownership and where your home  value stands on today's market, call NOW!!!

By.  Oscar Matamoros

Lupe Medina/Realtor   CLICK HERE

RE/MAX Metro Realty

866-466-6650

homesbyarea@yahoo.com

 

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Comments (1)

Charles Stallions Real Estate Services
Charles Stallions Real Estate Services Inc - Gulf Breeze, FL
Buyers Agent 800-309-3414 Pace and Gulf Breeze,Fl.

We shall wait and see the out come on the lease back. I would have liked to see people keeping there homes with maybe a longer term payoff.

Dec 06, 2009 01:14 PM