Articles by Shaun Greer on ArticleSnatch.com

Real Estate Tax Credit For Home Buyers Is $15,000 in 2009

Wed, 11 Feb 2009 00:00:00 -0500

If you have been holding your breath until you see real action by the government to halt the real estate crisis and turn back time, you may be able to breath once again. The current stimulus bill proposed by the Senate raises the $7,500 tax credit to $15,000. Unlike the House proposal, that all the tax credit taken would need to be repaid via a interest free loan, this time the money is not required to be paid back. Another great thing is this time the tax credit can be spread over two years of taxes. So if you did not receive the full benefits of the $15,000 credit the first year you can have your accountant account for the rest the next year. This is great news for home buyers waiting to see a reason to buy in this turbulent real estate market. Many home buyers in all areas across the nation have been reluctant to purchase a home when they are confident home prices will continue to drop. This could be the change the real estate market has been waiting for.** End Summary**

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Selling Real Estate Is Directly Affected By Mortgage Rates

Wed, 11 Feb 2009 00:00:00 -0500

According to the Treasury Department over 420,000 home owners mortgages are going to adjust this year. These are home owners who purchased homes with adjustable rate mortgages, some of whom tried to make a quick buck off the real estate boom. Others purchased their home using a hybrid mortgage so they could afford a larger home in hopes they would be able to refinance in a couple years to a lower rate. Well, their time has come and this year their rates will adjust. The good news for many is that interest rates are at an all time low. So low in fact they have not been here for more than 37 years. This is good news for these home owners who have these adjustable rates, it is also good news for the real estate economy os a whole. A large part of the homes that hit the foreclosure auctions over the last couple of years have been due to adjustable rate mortgages. Mortgage rates what were at 8 percent were due to adjust to almost 12 percent this year. Now with the low mortgage rates they will increase up to 9 percent.** End Summary**

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Best Ways To Save Money Selling Real Estate

Tue, 27 Jan 2009 00:00:00 -0500

Selling real estate is always a topic of interest for any home owner. The average American will sell a house every five to seven years. Given a 90 year life expectancy and assuming you buy your first house at age 30. You can expect to selling 8 to 12 houses in your life time. When it comes to selling a home it can be a very hectic and emotional time. There is a lot of money, memories and family history involved with selling a home. That is why it is best to take an outsider approach to selling real estate. Try to shake off the emotions and think like a potential buyer looking for a new home. There are typically only 3 ways to sell real estate and some will leave you with more money and create a faster sale than others. There are advantages and disadvantages to each type of home selling process so chose the best option for your particular home selling situation.** End Summary**

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Real Estate Statistics Do Not Tell The Truth

Mon, 26 Jan 2009 00:00:00 -0500

The numbers are posted each and every month. The national association of realtors, moodys economic data providers and many other companies and associations provide vital real estate statistics to the public. The question is, how reliable are the statistics and what do they mean. Anyone who has taken a statistics math class or who deals with statistic calculations and analysis will tell you, statistics can tell two different stories to two different people. It is kind of similar in looking at a glass of water and explaining to someone the glass is half full or half empty. The statistics I am focusing on today is the number of home for sale on the market. This is a vital number when it comes to real estate statistics as many other numbers are calculated from this one. Specifically the number of months of inventory that are on the market, nationally and locally. Many real estate agents will tell you when the number of houses on the market for sale equals 6 months on inventory, we are in a good market. Some areas currently have over 12 months of inventory on the market in their local area.** End Summary**

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Avoid The Foreclosure Crisis

Sat, 17 Jan 2009 00:00:00 -0500

Foreclosures set yet another record this month, with the highest foreclosure rate on record. The foreclosure rate is up over 81 percent from January 2007, and over 225 percent from 2006. Over 860,000 home owners lost their houses to foreclosure in 2007. This amounts to one out of every 50 homes in the entire nation. Think about it. If one out over every 50 people are loosing their house to foreclosure, then you have to know someone who is going through the foreclosure process. It is clear the current process to stop the foreclosure crisis and slow the rate that people are being kicked out of their homes and to the streets is not working. The government has been trying to slow the number of foreclosures by putting money into the banking system and asking lenders to work with home owners. The system is not working. But, there are some ways home owners can get banks to work with them and avoid foreclosure. I have spoke with many famlies from Idaho, California, Florida and Massachusetts that have all had success in stopping the bank from taking their home.** End Summary**

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Real Estate Agent Leads That Work

Tue, 06 Jan 2009 00:00:00 -0500

One of the most often asked questions from real estate agents I consult is how can I grow my business to the next level. The real estate agents who are asking me this question are educated, experienced realtors who have paid a hefty price for my time and who already close many houses each month. Almost all of them already understand the 80 percent, 20 percent rule and are having someone else do almost every thing in their business except generating real estate leads and showing up to closings. When you look at the sales cycle that a real estate agent and home buyer or seller go through it is very strain forward. The real estate agent is contacted or contacts the prospective client, they have a sit down meeting to discuss goals of the transaction and this is when it happens. One the potential client has meet with the real estate agent, the agent almost always gets an agreement signed stating the client is being represented by the agent. So, to produce more sit down meetings with prospective clients all an agent has to do is get more real estate leads or potential clients.** End Summary**

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When Will Real Estate Recover?

Sun, 04 Jan 2009 00:00:00 -0500

As 2008 is coming to a close many american home owners are asking a few real estate questions. When will real estate recover to prerecesion times? When will I be able to sell my house for a profit and is 2009 the year home values will start to increase? Since the peak in real estate prices and home sales in summer of 2005 many home owners have been loosing equity in their home. It seems each month is another indicator that real estate prices are not increasing and foreclosures continue to increase. But with each month that goes by, we are one step closer to hitting the bottom of the real estate market. Many factors point to the bottom of the real estate market, on a national level hitting bottom in 2009. There are a few major developments that bring light to a dark alley when thinking about the over all real estate market in 2009. One of the largest indicators that home values will start to increase this next year is the inventory of homes on the market. Last month new construction for homes was at 730,000 its lowest point since 1975.** End Summary**

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Mortgage Rates At All Time Low

Fri, 19 Dec 2008 00:00:00 -0500

This week marks a new low for mortgage rates. Mortgage rates are at a 37 year low. Rates have not been this low since 1971. The federal government decreased interest rates for the seventh consecutive week. This is an all out attempt to bring home buyers into the market and take some inventory off the shelf. The thought is lower interest rates will bring home buyers out from the bushes and the side lines. It will also help the many home owners who have home equity lines of credit on their homes. HELC interest rates usually move up or down with the prime interest rates. This week housing permit data also came out, with good news and bad. The results state November as the lowest housing permit month in history since 1975. The good news from this data is less homes being built mean some of the existing homes sitting vacant on the market will be purchased. The bad news is if home building permits are going down, it suggests local economies are struggling and decreasing as well. It takes many trades and people to build homes. Plumbers, electricians, framers, engineers, designers, project managers, and the list goes on.** End Summary**

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November Foreclosure Rates Slow

Wed, 17 Dec 2008 00:00:00 -0500

In November 2008 the foreclosure rate dropped 7 percent. Could this be the beginning of the bottom for foreclosures? Anytime you look at statistics or analyze data you get different answers depending on how much data you look at. In this instance only looking at one month, the month of November would lead you to believe that foreclosures are starting to slow. Look at 3 to 4 months of data and you will find a different answer. One possibility of the slow down in November is the foreclosure moratorium that Fannie Mae and Freddie Mac have put on repossessions of homes and foreclosures. In an effort to keep more home owners in their homes and slow the foreclosure rate these two, now government owned companies have stopped foreclosure repossessions for a 90 day period. over 78,000 home owners lost their homes in the month of November. This is an enormous number of people, now out on the street. This is down almost 8 percent from the month of October with over 84,000 home owners loosing their home to foreclosure.** End Summary**

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Mortgage Applications Back Down After Surge

Fri, 12 Dec 2008 00:00:00 -0500

Last week a move from the federal government caused interest rates to decrease to a very low rate. Mortgage companies noticed the increase in refinances from traditional home buyers who were taking advantage of low interest rates to save cash flow ever month. One thing you have to consider when going to refinance a home is that it is not free. It actually cost about 4 percent of the loan amount to close a refinance. This percentage is cost to pay the closing agent, loan agent or broker and possibly some taxes or closing fees. One week after the mortgage industry saw a surge in mortgage applications for refinances, the application numbers are back to normal. The percentages went from 112 percent to 7.1 percent in one week. Refinances made up over 73 percent of the total applications. Last month the federal government set a plan to buy 500 billion of mortgage backed securities and another 100 billion of debt issued by government sponsored financiers that have recently been taken over, Fannie Mae and Freddie Mac. This is what caused mortgage rates to decrease so dramatically.** End Summary**

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Real Estate Caused The Economy Slow Down

Tue, 09 Dec 2008 00:00:00 -0500

Everyone knows the US economy is in one of the largest recession we have ever seen, except of course the great depression. If you turn on the news any time of the day it is one of the main stories talked about. Record job losses, record foreclosures, record bankruptcies for americans. One thing the press is not clear on is where this economic crisis started from. If you are are home owner you can be sure that you are familiar with where the current economic crisis came from. In 2003 to 2005 we saw the value of our houses sky rocket to the highest levels we have ever seen. Everyone was enjoying the new found rich es from real estate. This was not just another stock that caught a lucky streek. Millions of americans were enjoying making money just by living in their home. So, being the smart investors that we Americans are, we borrowed money from the mortgage companies at 6-7 percent interest and enjoyed the returns from a real estate market with returns in the 20-30 percent increase.** End Summary**

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Ada County Tax Assessor Wrong Again - Taxes Go Up

Mon, 08 Dec 2008 00:00:00 -0500

Well, its that time of the year again. Everyone in Ada County will be receiving their tax assessment notice in the mail. When this should be the time of year spent with family, reflecting on the great memories made over the year and giving to people in need, we can not forget about the time and commitment we have to dedicate to disputing our Ada County homes tax assessed value. It never seems to amaze me how the Ada county tax assessor gets it wrong. In fact, are we even sure he lives in the Treasure Valley? It is common knowledge that home values in the Treasure Valley and specifically Ada County and Canyon County have gone down over the last 3 years. Home values peaked in summer of 2005 and have been on a down hill slide ever since. So how come our assessed value keeps increasing, because they can get away with it. It is a numbers game.** End Summary**

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The Best Way To Get An Offer On Your House In Collin County Texas

Sat, 22 Nov 2008 00:00:00 -0500

Lets face it, life is not always easy and is not always perfect. Many good people in cities like, Allen, Frisco, McKinney, Plano, Richardson, Wylie and other parts of Collin County get into financial situations which cause them to get behind on their mortgage payments. One day things were going great so you purchased a new house. A few months later you lost your job and now you can not make your mortgage payments. Now you need to sell your house in Collin County. Situations like this happen to many people each and every day. When a life changing event like loosing your job, or going through a divorce happen, usually your house becomes a large financial burden. In fact, with the real estate market slow and buyers having trouble getting financing, your house can become a stressful, financial nightmare. The government has been trying to stop the real estate meltdown for 2 years now with no success. Foreclosures in Collin County and other areas of the nation keep climbing at record levels and more and more homes owners are falling into financial distress because of their home.** End Summary**

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Sell A House In A Slow Real Estate Market

Thu, 02 Oct 2008 00:00:00 -0400

The the economy tumbing it is very unlikly we will see home prices where they were two years agon any time soon. It is hard for home owners to fact up to the reality that they have no equity and will not for a very long time. Is is also very hard to understand that finding a buyer for your house is no easy task. Two years ago you could post a sign in your yard and you would have people walking over one another to buy your home. Now days you practically have to spend thousands of dollars on marketing to get people through the door. The real estate market has not just slowed down, it is almost standing still. Each and every month there are more houses on the market for sale and les homes are sold. So how do you sell a house fast in the very slow real estate market? You have to find and receive an offer from the right home buyer for your house. When it comes to selling your home you have very few options, especially if you need a quick sale.** End Summary**

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How to Buy a Home in an Unstable Market

Thu, 02 Oct 2008 00:00:00 -0400

As if the home buying process isnt nerve wracking enough, an unstable market presents unique challenges to future home buyers. With the steady stream of bad news, increased foreclosures and tightened restrictions on mortgages, it can be more difficult to buy a new home now than it has been in the past. Lenders are getting picky and it can spell bad news for those individuals on the house market. If you already qualify for a mortgage, however, and have a good income with strong credit, you can be in a prime spot to purchase a home. With declining home prices and an established mortgage, the house market is not as treacherous for established homeowners as it can be for first time buyers. There are some tips and tricks, however, to help you stay within a safe area for your future home purchase despite an unstable market scenario. Do not over reach yourself with a large mortgage. It might be great that you can afford a certain price on paper, but you need to take the time to work out how much your mortgage payments will actually be each month.** End Summary**

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We Buy House Professionals Taking Advantage Of The Slow Real Estate Market

Wed, 20 Aug 2008 00:00:00 -0400

When will the falling house prices finally plateau? This question is on the lips of a number of real estate market analysts and investors who are looking for the promised turnaround in a housing sector that continues to disappoint. Although regulations are becoming more stringent in the lending market and the real estate sector has seen some overall positive trends, the big factors of foreclosures and a reticent buyer attitude has continued to make property prices fall. Some home analysts are wondering where the bottom prices are. For millions of American homeowners, the same question is being analyzed. With a stalled real estate market, homeowners are sitting tight, waiting for the storm of failing prices to past. While they wait, their home equity is slowly sliding by and the value of their home dips more and more. Many potential home buyers have decided to wait on the sidelines rather than risk selling their home for too little of a profit. And for those individuals who are in the market for their first homes, the unsteady market has played a role for these non-homeowners as well.** End Summary**

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How To Sell My House In Houston Texas

Mon, 11 Aug 2008 00:00:00 -0400

Home prices in Houston Texas have held steady while the rest of the nation is seeing an over 7 percent decrease in home prices. In the 1st quarter of the year Houston Texas saw an increase in home prices of approximately 0.8 percent. The median home price is now 148,400. This is good news if you live in Houston. Although there is good news if you are a home owner in Houston, 0.8 percent is not much of an increase and if you purchased your house at the peak of the real estate market you can be sure that this slight increase has not had much affect in your home value. In fact even with the slight increase in home appreciation there are still many home owners who can not afford their mortgage and are falling into foreclosure. If you are from Houston Texas than you know the hard situation you are faced with if you need to sell your house. If you purchased your home recently you probably owe more for your house than what it is worth.** End Summary**

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The Fight Over Mortgage Rules

Fri, 08 Aug 2008 00:00:00 -0400

Considering the current state of the real estate market, it came as no surprise that the Federal Reserve would swoop in to regulate and tighten allowances on mortgages for homebuyers. The overhaul of the mortgage lending system is in full swing with consumer groups and lenders on both sides of the arguments. The hope is that these regulations will put the current mortgage lending industry in a more stable and profitable situation in the long-run. Currently, the extension of credit to homebuyers that are incapable of fulfilling their end of the deal harm the lending company, the homebuyer and the real estate market in general. Currently, many consumer groups are claiming that mortgage regulations are too lax with a variety of loopholes. These loopholes make it too easy to allow reckless lending, which in turn causes more and more instability in the real estate market. However, industry specialists and mortgage lenders argue that these more stringent proposals will become a larger burden on current and future lenders and will reduce the amount of credit they can extend. In essence, a restriction on the amount of credit available is exactly what the Federal Reserve is analyzing the need for.** End Summary**

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The Trouble with Mortgages

Thu, 07 Aug 2008 00:00:00 -0400

Have you been looking for a new home lately? If you are one of the lower numbers of Americans looking for a new home and a new mortgage, you might be in for a surprise. New mortgages have gotten more difficult to secure as the housing sector fights to eliminate the defaulting mortgage disasters that have dictated the market activity lately. While new mortgages might be more scarce, the long-term impact of more stable mortgages cannot be underestimated. Much of the trouble in the housing market currently is due to poor choices by uneducated home buyers and shady practices by lending businesses who were looking for a quick profit without regard to the overall impact these unstable mortgages would have on the economy. The recent troubles of Freddie Mac and Fannie Mae are in direct result to the ailing mortgage market. Borrowers are paying for the mistakes of others by paying roughly 10% more in monthly mortgage costs. Why the higher costs for people that have not defaulted on their own payments? These additional costs are the answer to the lack of confidence in the real estate market.** End Summary**

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The Pain of Home Over-Improvement

Thu, 07 Aug 2008 00:00:00 -0400

Upgrade your kitchen and master bath and you will instantly see a high financial payout is the common wisdom in the home improvement market. But putting in high-end appliances and upgrades to your home does not instantly ensure a full recoup of the costs plus profit. There are other factors involved in a smart home improvement plan. Updating a kitchen with all of the latest high-end materials like granite countertops and cherry cabinets used to be a sure-fire way to improve a home, and its price on the market. Nowadays, however, home sellers are discovering that they might have taken on too many home improvements and priced themselves out of their neighborhood. There is much more inventory on the market currently than there was during the real estate boom. For this reason, home buyers are less and less impressed with granite countertops and custom design work. However, for the sellers who have spent thousands with the hope that the improvements would help them sell their homes fast and for more money, a nightmare awaits. Upscale renovations are now returning roughly 70% of their initial costs, giving many home sellers a startling shock.** End Summary**

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Fannie Mae and Freddie Mac are Finding Help

Thu, 31 Jul 2008 00:00:00 -0400

In an effort to find more and more assistance with the current real estate problems, Freddie Mac and Fannie Mae are in talks with the Treasury, White House officials and the Federal Reserve. In essence, both Freddie Mac and Fannie Mae are looking for ways to give additional financing for the struggling mortgage companies whose financial problems and ammount of homes in foreclosure are one of the bigger issues in the real estate sector. What is one of the ways that Freddie Mac will help with their money problems? They are scheduled to sell roughly $3 billion in short term notes starting July 14th. In case they cannot find enough investors, they are negotiating for a backup plan. Henry Paulson, the Treasury Secretary, is likely to make a planned announcement to reinforce his support for Freddie Mac and Fannie Mae as both companies lost roughly 45% of their value in the past week alone. Since both Freddie Mac and Fannie Mae are an integral part of the success of the real estate market, their stability is essential. Both companies guarantee roughly half of the $12 trillion left in outstanding home mortgages in the United States.** End Summary**

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Smart Tips for When to Buy a Home

Thu, 31 Jul 2008 00:00:00 -0400

Search for any article on real estate lately and you will read a lot of doom and gloom scenarios. While it is true that the real estate market is struggling overall, there are some top tips to consider before you purchase a home, no matter what the rest of the mortgage industry and real estate market is doing overall. Before you sell your home or look to buy a new property, answer the questions below to see if now is the right time for you to purchase. Can you commit? If you can not stay in your new home for at least three years, then now is not the time to buy. With the money that is required to purchase and sell a home, homeownership can end up costing you a great deal of money. If this is a possible outcome for you, it is actually more financially beneficial to rent rather than own until your life becomes more sedentary. How is your credit? It is remarkable how much of your life is dependent upon your credit score. If you are considering purchasing a new home, the first step is to look at your credit report.** End Summary**

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The Pain of Closing Costs

Wed, 23 Jul 2008 00:00:00 -0400

Closing costs can be one of the trickiest things new home buyers face when purchasing a property. It is the hidden costs and surprise jack-in-the-box that pops up just as your hopes that the purchase is finally complete and have been set in place. Closing costs are the reason that many people turn to alternative methods for selling or buying a home, such as with For Sale By Owner or just listing it on a free advertising space online like Craigslist. While it might seem silly to let your home sale be dependent upon a website like Craigslist, it can be a successful, and more affordable way to sell or buy your home by avoiding closing costs. Closing costs are the fees that the seller and buyer pay during the closing process, including the costs that the seller will pay to both their realtor and the realtor that you use to find their home. The savvy home seller will factor these closing costs into the final price for their property, making the price increase.** End Summary**

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Mortgage Rules and Regulations: More is Needed

Mon, 21 Jul 2008 00:00:00 -0400

The Federal Reserve is reviewing the rules and regulations for the mortgage industry. The proposed regulations come after thousands of people have requested a review of the requirements lenders follow when establishing credit for home purchases. With the revised proposal and a look at revisions in the lending requirements, the Federal Reserve are trying to answer critics who have said that changes needed to be made years ago. Many lending experts have stated that if the Federal Reserve had stepped in when the instable lending situation was being created years ago, the unscrupulous lenders could have been stopped, stifling the real estate boom, but also preventing the currently poor lending situation. Many experts have stated that if a range of rules had been put in place years ago, many of the things that are currently happening in the lending and real estate sector would not have occurred. In fact, a former Federal Reserve governor, the late Edward Gramlich pushed for a stronger regulation in the mortgage industry, to no avail. However, despite the current proposed regulations that would be enforced with future mortgage lending, consumer groups say that more needs to be done.** End Summary**

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Swooping In at the Lower Prices

Mon, 21 Jul 2008 00:00:00 -0400

Even while the rest of the country is suffering under the deflated economy and woeful real estate market situation, there will always be those individuals who can afford to purchase. And now, with the rock bottom home prices, the time to buy real estate has never been better. Real estate investors are being wooed to purchase more and more properties at a fraction of the cost they would have held during the booming years. One example of the lure of deflated real estate costs can be found in South Florida. Here, home prices have dropped almost 27% in just the last 12 months alone, making the properties in this region an ideal purchase for any savvy real estate investor. With more and more people trying to get out from under their large mortgage bills to avoid foreclosure, these motivated sellers are putting their homes on the market for less, and closing on them for even lower. Bargain hunting for properties in this area and other similar real estate markets where the prices have plummeted has never been easier. Better still, the smart investor knows that they can rent out the properties while the market is in its poor state.** End Summary**

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