Reliablesrq’s Weblog

Past Due: 7.3 Million Mortgages http://ping.fm/xkKRp

Did you know that the tax credit for home buyers is extended for those in the military? Armed service, intelligence service and foreign service personnel on active duty and out of the U.S. for 90 days during any part of 2009 get an additional year to buy their homes – to May 1, 20ll. read more http://ping.fm/TJRlE

Heather Phelps gave birth to baby girl,Ava, last night. Butch & I are grandparents! Do you think we should be able to pick the name she calls us?

The Senate has voted to extend and expand a popular tax credit for homebuyers that was scheduled to expire Nov. 30. The House is expected to schedule a quick vote on the bill, part of a package that also extends unemployment benefits for people out of work more than a year. “

A $6,500 credit was added for other primary-home purchasers and raised qualifying income limits. A bill extending the $8K tax credit for 1st time buyers still needs to go through the full senate and house. But it looks hopeful. Contracts must be in hand by April 30th and close by June 30th. It is thought that this will stimulate the new home housing market which has seen a decrease in sales in the last year.
September reports showed new home housing at a 27 year low. This may be a result of a shift in the consumer demand with resales being more attractive with the added tax credit or an effort to tightly control the inventory by builders.
The tax credit for primary-home purchasers could lead to an increase of new home production. One thing for sure, if you buy a new home to build on your lot, it will go up much faster.

“We are what we repeatedly do. Excellence, then, is not an act, but a habit.” – Aristotle

Lost documents for your mortgage? Find out an easy way to put the puzzle pieces together. www.realestateexpertsflorida.com

Florida agencies received grants totaling $1.2M to counsel families facing foreclosure, seeking affordable rental housing or hoping to buy their first home. What’s ironic is that private investors are moving forward without the help of government funding buying distressed properties, working through short sales, and re-selling properties thereby eliminating some of the blight. Visit http://ping.fm/1t6f1 for more info.

” Banks are backing away from short sales, forcing sellers to pay extra at closing or demanding a promissory note for the amount due. “
After working in the short sale arena for a while I could tell this was happening. People thought that with the stimulus of billions of dollars the process would get easier. Not so and the following excerpt from the 10/09/09 Business Week supports this view.
Bottom line, work with pros if you want to avoid a foreclosure and do a short sale. check out www.MyRealEstateAgentsAdvantage.com

More than $65 million in stimulus funds is available for housing assistance throughout Florida, state officials announced Tuesday as they attempt to make sure the funds get spent.
For more information on the program, visit the Florida Department of Children and Families at: http://ping.fm/m7jvR