Slippery when wet i'm very interested to see just what kind of details come forth on this proposal. So far everything i hear helps out the banks and lenders but i'm not really hearing anything about reworking loans for troubled homeowners to help them stay in their homes. We'll see where it goes by the end of the week but if there's nothing helping the homeowner i see this as another short term fix.
HOME PRICES
Experts say that the government's enormous plan to relieve Wall Street banks of their bad investments has a decent chance of stabilizing home prices, at least in theory. By buying troubled mortgage debt from major banks under the bailout plan, the government can help make more money available to borrowers - and hopefully at lower interest rates.
Read the full story:
http://www.floridarealtors.org/NewsAndEvents/n3-092208.cfm
FEDERAL AID
The Bush administration asked Congress on Saturday for the power to buy $700 billion in toxic assets clogging the financial system and threatening the economy. It's a lot of money tucked into a three-page bill, and a Democratic effort to include homeowner protections may be added.
Read the full story:
http://www.floridarealtors.org/NewsAndEvents/n1-092208.cfm
Amid widening financial chaos, Fed holds rates
With turbulence hitting financial markets as a global credit crisis claims heavyweight victims, the Federal reserve held a key interest rate at 2 percent.
http://www.msnbc.msn.com/id/26740045/from/ET/
REAL ESTATE FRAUD
Florida, now saddled with the nation's highest level of mortgage fraud, once had a program to reimburse people scammed by rogue mortgage brokers. But the program ended a decade ago, making the state one of only three in the U.S. that doesn't help homeowners hurt by mortgage fraud.
Read the full story:
http://www.floridarealtors.org/NewsAndEvents/n3-091608.cfm
What a busy week this week a lot going on in the world, a mix of bad & good news is out there. Stock market down, less foreclosures on the market this month and Fed holds rate at 2% for now to name a few. All we can do is keep are head up and keep moving forward, I for one will be leading the way...
What does that mean?
Usually, debt that is forgiven or cancelled by a lender must be included as income on your tax return and is taxable. The Mortgage Forgiveness Debt Relief Act of 2007 allows you to exclude certain cancelled debt on your principal residence from income. It applies to qualified debt forgiven in 2007, 2008 or 2009. That's only a 3 year window to complete a Short Sale or Foreclose on your property before the window is closed on Dec. 31st 2009.
Read more here: http://www.irs.gov/individuals/article/0,,id=179414,00.html
REAL ESTATE ECONOMY
Wellesley College economist Karl Case presented a paper at the Brookings Institution on Sept. 11 that suggests the housing market may be close to bottoming out. He cited modest gains in residential prices in nine of the 20 markets covered by the S&P/Case-Shiller home price index and a narrowing of the gap between incomes and home prices.
Read the full story:
http://www.floridarealtors.org/NewsAndEvents/n2-091508.cfm
This is my career and as a full-time Realtor i know i have to network and be known in my community or city. That's why i helped create www.i-GoCity.com a local/national website that has something for everybody. What i oversee is the Real Estate side of the site and here's what i'm looking for from you.
I need active full-time Realtors that want to network, market themselves and be known in their community or city. Here's the catch i only have space for 1 Featured Agent per city and i'd like to sell it to you as a trade out. A trade out of your time here's 3 things that need to be done for the trade out of being the Featured Agent in your city on i-GoCity.com.
That's all not much for you to do as a trade out to be the Featured Agent of your city. Here's a link to an article that was written in my cities local newspaper. http://www.naplesnews.com/news/2007/jun/10/igocitycom_plans_expansion/
Remember only 1 Featured Agent per city so don't wait it only cost your time, let's network...
To secure your Featured Agent spot in your city simply email me at tperez@i-GoCity.com the following info your name, your office and what website link you want users to go to.
A WATER VIEW
Money magazine came out with its top 25 list of best places to find affordable homes near the water, and Ferry Pass, Fla., made the cut. Coming in at No. 16, the community, located near Pensacola, is just minutes from the beautiful white sand beaches of the Gulf of Mexico. The magazine also noted that Ferry Pass residents enjoy the many restaurants, boutiques, art galleries and other amenities of Pensacola, and go fishing in nearby Escambia Bay. Based on 2007 data, the median family income for the area is $59,257, while the median home price is $129,350. Want more info? Go to: http://money.cnn.com/galleries/2008/moneymag/0809/gallery.bpretire_affhomes.moneymag//
Another great Waterfront community is Cape Coral and with the current recorrecting market of the boom years now is a great time to buy and Cape Coral is a great place to get affordable waterfront property. Below i'm showcasing two such properties that are worth a look and feel free to call or email me if you like more information on these or any other property you may have in mind. Enjoy life and have a great day!
| This property information distributed by: Tony Perez |
| VIP Realty Group, Inc. Office Phone: 239-403-7777 Agent Phone: 239-850-1168 Fax: 239-437-7512 Email: tperez@viprealty.com |
| General Property Information |
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List Price: $109,900
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| This property information distributed by: Tony Perez |
| VIP Realty Group, Inc. Office Phone: 239-403-7777 Agent Phone: 239-850-1168 Fax: 239-437-7512 Email: tperez@viprealty.com |
| General Property Information |
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List Price: $290,000
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YOUR CONNECTED REALTOR FOR LIFE... This is my career, i'm a full-time Realtor who is organized and goal oriented in order to bring you thoroughness through the confusing real estate process.
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