The title may be a bad joke, but there is no joke about the number of Foreclosed Homes on the market and a Tsunami of more to come looming on the horizon. No minorities here, as Ghettos to Gated Communities have been littered by abandon homes for sale or just left for broke. The worst part is that until the bulk of Real Estate Owned (Reo) Foreclosures are bought some current Homeowners are spending their time upside down in a property they can't sell at the moment.
So when and how do we move forward? The good news is that it is already happening. The new statistics on Home Sales is up, President Obama has made legal grounds for banks to cooperate with Homeowners, and Large Tax incentive through 2009 are taking affect. I teach my clients that it's of course just Economics 101, furnish must equal the interrogate for Homes and both need to be coupled with strong buying power for the public.
The furnish of Homes has never been as vast in years. Houses have dipped to prices that make buying more cheap than renting and the majority of my clients are finally able to buy that home.
Some of the factors that are addition buying power and interrogate are a host of Government backed Loan Products from Fha, Cal-Vet, and Gnma. They offer programs that fit the working class by allowing for higher debt to earnings ratio's and less that 20% down for home purchases in most cases.
Obama stylish tax bill also allows First Time Home Buyers to obtain an ,000 tax credit that can be added on top of the current tax refund. In some cases, that can be 10% of your homes value given back to you in cold hard cash. That of course has First Time Home Buyers attention.
One thing is certain; change is in the air. And my grandfather all the time taught me that "change creates opportunity." So to survive I have come to be somewhat of an Ambassador of change in my market of Northern California. Researching, teaching and applying everything inherent to keep Home Owners in their homes, and fabricate buying power for the midpoint hard working American to buy new homes. This must happen first so would be Homeowners can start buying the glut of Homes for sale and let current homeowners sell their properties for a decent price in the near future.
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