Our real estate market seems to be shifting yet again. It’s no secret that the banks lose significantly less money if they accept a short-sale offer as opposed to selling the home as an REO.
So, why don’t they pick up the pace on accepting short-sale offers? The reality is they lack the systems to make the process smooth and efficient and, quite frankly, haven’t wanted to throw good money after bad to put the infrastructure in place for a “temporary” period of time. Continue reading Short Sale vs. Foreclosure
The Northbay Association of Realtors(NORBAR)California Association of Realtors(CAR) and the National Association of Realtors(NAR) is working feverishly with congress to extend the $8000 tax credit.
The Federal Tax Credit which is due to expire on November 30, 2009, has been a huge buoy to the current market for first time homebuyers. Recent surveys show that 30-50% of first-time buyers would not have purchased a home without the tax credit.
Statistics show that every home purchase has a ripple effect into the local economy of approximately $63,000. With the local economies,( ie; contractors, plumbers, home improvement stores, home furnishing stores, city revenue…the list goes on) tied so closely to the “health” of the real estate market, its easy to see that this tax credit is a valuable tool…..and helps more than just the first time buyer.
Your support should be voiced to your local congress representative; contact info below; Continue reading Help Keep the $8000 Federal Tax Credit Alive; Call to Action