Ira Freireich, Excl Buyer Agent

Housing starts rose 10.5 percent in August, the largest increase since November of last year, suggesting that the embattled housing sector was starting to recover. This is even more promising, considering the Housing Buyer Tax Credit that has been credited for buoying the housing market, expired April 30, 2010.



The question is, are we out of the ‘woods’ yet? If we are on the road to recovery, why are we still struggling to experience this recovery? What has been your experience? If you are a Real Estate Agent, are you seeing any increase in your sales, ? If your are a potential home buyer, are you ready to buy? If you are a home seller, are you ready to sell?

For more insights see the New York Times.

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A survey conducted for Entitle Direct, a provider of title insurance for condominiums, shows that a quarter of those surveyed say they have no interest in buying anything but value the food and decorating tips. In a slow real estate market, attending open houses has become something of a hobby for many New Yorkers. In fact, one out of every four people in a recent survey of 190 attendees at 10 open houses in Manhattan and Brooklyn confessed that they had no intention of buying anything.

However, those who are serious about their house hunt are more determined than ever to do it right. Even before they set out for open houses, they are putting a lot of time and effort into the process.

Typically they are checking various sources of real estate information. Edward Baum, head of marketing and sales at Entitle Direct, noted that some respondents admitted to spending more time on real estate-related websites than checking news.

Once they turn up at open houses, 50% of people were doing their own first-person research. They said they were doing such things as flushing the toilet to check out the water pressure or running their hands over a window to look for drafts.

A quarter of respondents plan to attend an average of at least one open house a month over the next six months, many confess they've become picky about turnoffs. Here are their top pet peeves.

• 38% of respondents say tight space is of great concern and even notice when owners remove furniture to make a space look bigger.
• More than 20% of respondents say another pet peeve is poor natural light.
• A smelly house was also a turn off for 10% of surveyed people.

So, does your experience show that open houses help you to sell homes?

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Best Buyer’s Broker Realty is an Exclusive Buyer Agent specializing in Long Island real estate (Nassau and Suffolk properties) and neighboring Queens County properties.

A smaller percentage of U.S. homeowners were saddled with "underwater mortgages" in the second quarter as more homes entered the foreclosure process even as price declines slowed, real estate website Zillow.com said Monday 08/10/10. Fewer homeowners with so-called underwater mortgages, where the amount owed on the mortgage exceeds the home's value, is indeed a positive for the housing market as it could mean fewer defaults and foreclosures down the road.

The percentage of American single-family homes with mortgages in negative equity fell to 21.5 percent in the second quarter from 23.3 percent in the first quarter and 23 percent a year ago, according to the Zillow Real Estate Market Reports. These underwater mortgages are one of the biggest banes of homeowners since negative equity makes many of them unqualified for home loan refinancing and prevents some from selling.

There is also additional good news since the HUD announced its Federal Housing Administration ,FHA, underwater financing program which should aid 3-4 million homeowners . FHA officials recommend that underwater mortgage holders contact their lenders to see if their bank or mortgage companies will be taking part in their program which starts September 7.

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Best Buyer’s Broker Realty is an Exclusive Buyer Agent specializing in Long Island real estate (Nassau and Suffolk properties) and neighboring Queens County properties.

We don’t take any seller listings (yet we have more homes for you to see than most agents) and never have any potential conflict of interest like other agents who also represent sellers. We represent buyers only, 100% of the time. We can show you more homes for sale because we have access to MLS, FSBOs, Exclusives (homes that agents try to keep secret), foreclosures and homes not on the market that may be of interest to you.

We are not your traditional real estate agent. Our goal is to advise and protect home buyers and help them obtain the lowest price and best terms on their dream home. Call us at 516-887-6901 to see how we can help you save time and money. Or visit our sites at http://bestbuyersbroker.com or http://bestbuyerbroker.com.

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Main Street may be about to get its own gigantic bailout from the government. Rumors are flying from Washington to Wall Street, that the Obama administration is about to order government-controlled lenders Fannie Mae and Freddie Mac to forgive a portion of the mortgage debt of millions of Americans who owe more than what their homes are worth- homes that are underwater.

An estimated 15 million U.S. mortgages – one in five – are underwater with negative equity of some $800 billion. On Christmas Eve 2009, the Treasury Department waived a $400 billion limit on financial assistance to Fannie and Freddie, pledging unlimited help. It is felt that the actualvehicle for the bailout could be the Bush-era Home Affordable Refinance Program, or HARP, a sister program to Obama’s loan modification effort. HARP was just extended through June 30, 2011.

The move, if it happens, would be a stunning political and economic bombshell less than 100 days before a midterm election in which Democrats are currently expected to suffer massive, if not historic losses. The key date to watch is August 17 when the Treasury Department holds a much-hyped meeting on the future of Fannie and Freddie.

The Republican leaders believe this rumor will become reality since GOPers and Democratic moderates in the Senate are unwilling to spend more taxpayer money on Stimulus. This latest housing plan would allow the White House to sidestep congressional objections and show voters it is doing something tangible about an economy that seems to be weakening. Wall Street bankers believe this rumor too and are alerting their clients privately to this possibility. If this rumor is true case workers are going to be working overtime trying to determine the how much is owed anf how to effectively disperse 800 billion to 15 million homeowners.

The president’s approval ratings are continuing to erode and Democrats are in real danger of losing the House and almost losing the Senate. The mortgage bailout would be a last-gasp effort to prevent this from happening and to save the Obama agenda. The political calculation is that the number of grateful Americans would be greater than those offended that they — and their children and their grandchildren — would be paying for someone else’s mortgage woes. So, it stands to reason that this is not just a rumor but a fact. We wait to see….Do leave your comments and feedback..