Vacant homes do not stimulate the economy........and their "ungy"

Reblogger Monique Combs
Real Estate Agent with Royal Shell Real Estate 3290764

Southern MarylandOur economy needs to be stimulated! Southern Maryland home ownership is important to help the vitality of the the Southern Maryland communities, unemployment, taxes and more. So, if your looking to buy a home in Southern Maryland now is the time. See what Ralph Gorgoglione has to say!

Original content by Ralph Gorgoglione RS-78439 / BRE #01708344

Vacant homes do not stimulate the economy........and their "ungy"

I am optimistic about all that the government and banks are doing to try and make homes and loans affordable, and make short selling a property easier for a homeowner who has no other sensible alternative.

As we all know, homes that sit vacant over time, on the simplest level, are just not attractive (or as my little neice would say, they're "ungy")

But not only are they an eye sore and a cause for depression within the neighborhoods that they are in, more importantly they do not help stimulate the economy, which is really needed right now.

A homeowner living in a home who is paying their mortgage are contributing in many ways:

  • They are paying interest to the banks, who in turn invest their money in the national markets
  • They are consuming goods for the home - personal property, appliances, furniture, cleaning supplies, plants, electronics, etc - and buy doing this they are helping to keep the employees of all those companies employed.
  • They are paying for utilities - helping keep that sector of the economy going and keeping those workers employed.
  • They are homeowners, so not only did they provide a transaction for 2 real estate agents, an escrow officer, title officer, etc., but they will most likely need to either upgrade or relocate, which will require a transaction all over again.  This also keeps those professionals in the real estate business going.
  • And very importantly, especially here in California, a homeowner pays property taxes.  This is a huge source of revenue for the state and local government to be able to fund programs and public works projects

When you help your client short sale their property to avoid a foreclosure, or when you assist your buyers in purchasing that REO, you are actually doing your local and national economy a huge favor. 

So it is vitally important that we do whatever we can as a society to keep the home ownership principal available to everyone.

Any empty house means empty pockets to many people.

 

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Location:
Maryland Calvert County
Tags:
southern maryland
real estate
vacant homes
economy

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Rainmaker
734,112
Dan Edward Phillips
Dan Edward Phillips, Humboldt and Del Norte Counties, CA - Eureka, CA
Humboldt and Del Norte Counties, CA

Good Morning Monique,  thanks for reblogging the excellent post!

Aug 28, 2010 11:00 PM #1
Rainmaker
156,354
Carolyn Kolba
Serving Mentor, and all of Lake County, Ohio - Mentor, OH
Keller Williams Realty- Mentor, Ohio

Monique, First of all, this is a great article to re-blog.  But, as I was trying to read it, I kept getting very distracted by your blinking "Southern Maryland Real Estate" wording below your "subscribe to my blog" button.  Distracted to the point that I had to look at it just to figure out that it blinks in cycles... 15 blinks at a time.

Aug 28, 2010 11:41 PM #2
Rainmaker
4,433,127
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Thanks for reblogging. I hope the economy will improve and there will be fewer short sales.

Aug 29, 2010 12:05 AM #3
Rainmaker
791,394
Carol Zingone
Berkshire Hathaway Home Services Florida Network Realty - Jacksonville Beach, FL
Global Realtor in Jax Beach, FL - ABR, CRS, CIPS

We have our fair share (or, unfair share) here in FL - it's a tough situation, and the differences between how banks process short sales makes it very frustrating for everyone in the process.

Aug 29, 2010 12:14 AM #4
Rainer
407,272
Randy Ostrander
Lake and Lodge Realty LLC - Big Rapids, MI
Real Estate Broker, Serving Big Rapids and West Central MI

Thanks for the reblog. I missed it first time through. Hopefully we will turn it around soon and go back to where the foreclosure is the rarity.

Aug 29, 2010 12:39 AM #5
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Rainmaker
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Monique Combs

Royal Shell Real Estate - Monique Combs
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