Scottymac4homes's Blog

scottymac4homes — Wed, 21 Apr 2010 22:53:15 +0000

Hello and Happy Wednesday!
On Monday, Gov. Arnold Schwarzenegger, signed the Bill SB401 which will eliminate state taxes on forgiven mortgage debt from 2009 through the end of 2012. The US Government has already put this in place. A big relief for Ca homeowners who have a loan modification, short sale or foreclosure.
Click on the link for full details:

http://ping.fm/mKxg0

scottymac4homes — Sat, 14 Nov 2009 18:59:44 +0000

A continuing stream of foreclosures may keep the residential inventory going and prices could remain stable over the next couple quarters. But as inventory shrinks so too will the abundance of investment opportunities. Now is the right time to invest.

scottymac4homes — Sat, 14 Nov 2009 18:58:25 +0000

While residential inventory appears to be slimming, foreclosure rates continue to mount in multiple areas across the country. With a huge number of Option Arms set to reset over the next several months, many cities will continue to experience record-setting foreclosure levels.

scottymac4homes — Sat, 14 Nov 2009 18:43:04 +0000

We should c a gradual increase n home sales throughout 2010. More than likely we wont return until normal until about 2011.

scottymac4homes — Sat, 14 Nov 2009 18:38:47 +0000

It appears we have hit the bottom of the housing market. Housing prices found some stabilization although the prices r still close 2 the lowest they have been all decade. BUT the collapse took years 2 build & expecting a complete turnaround in 09 is really unrealistic.

scottymac4homes — Sat, 14 Nov 2009 18:37:17 +0000

There R dozens of reasons why the residential real estate market bubbled & exploded, causing the credit crisis & economic hardship. The popularity of loans requiring no doc & the Federal Reserves decision to keep rates low all intertwined to fuel the housing crisis. The housing bubble was also inflated by Wall Streets ability 2 package & sell mortgages in large pools. Now after struggling 2 repair the hosuing market 4 over a year, we r seeing improvements that r unveiling extraordinary investment opportuniities n the residential real estate market.

scottymac4homes — Tue, 10 Nov 2009 22:12:58 +0000

Clearly the market appears to be turning around. While some question whether there is enough demand to keep up with the number of foreclosures expected to hit the market in the next year, reports seem to indicate the demand may finally be there. Hopefully home prices will stabilize by next spring! Call me with any ?s Scottymac 925-783-8286

scottymac4homes — Tue, 10 Nov 2009 22:11:04 +0000

While we are still seeing some decline in prices, that decline is moderating. A shrinking supply of unsold inventory suggests we are getting closer to price stabilizationi in many areas. BUT we still need a steady stream of financially qualified buyers to further reduce inventory and get us to a self-sustaining market. Call me with any ?s Scottymac 925-783-8286

scottymac4homes — Tue, 10 Nov 2009 22:09:25 +0000

House prices, however, didn’t fare as well as house sales. During the third quarter, 123 out of 153 metropolitan statistical areas reported lower median existing single-family home prices in comparison with the third quarter of 2008. Only 30 areas had price gains. The national median existing single-family price was $177,900, which is 11.2% below the third quarter of 2008.
Call me with any ?s Scottymac 925-783-8286

scottymac4homes — Tue, 10 Nov 2009 22:08:37 +0000

The homebuyers credit has given buyers the confidence they needed to get off the fence and take advantage of extremely affordable housing conditions. The buying conditions this year are the most favorable on record dating back to 1970, but the tax credit is allowing buyers to set aside any reservations about waiting for a better deal.” call me with any ?s Scottymac 925-783-8286