Tag Archive for 'news'
Stimulus Plan 900 Billion and REGULATION
0 Comments Published by popelynne February 4th, 2009 in Real Estate Information. by popelynneWonder where all this mess really happened? Deregulation of the Banks.
Wall street and the Banks. Oversimplified but it is a fact. When the loan was sold nobody cared about it after that. It was repackaged and sold and sold and sold and all that paper is worthless now. Everyone I know wonders about the great Christmas movie of all time-”Its A wonderful Life.” (deregulation of the Power plants in California had the same disastrous effects of greed- its cosing more to get it back on track.)
We have to make our way though this and it starts by caring enough to regulate again.
Another stimulus package? Still wondering what happened to the first one? The same urgency is here to do something and do it quickly. If the forclosed homes being held up in government mandates get unleashed we will see a financial New Orleans. The Levees holding back the rising waters will create more damage than fixing it now will ever cost.
Everyone knows this is a serious threat to a great depression. The news is fractured in another divide. Television news is an appalling “People” magazine or local car chases through the streets. The middle of America is pushing forward in only one way I know-blogging, commenting, speaking up till we can speak out!
RISmedia a real estate information leader in communication wrote today that mid February they want to vote on this package.
This is the communication:
In an e-mail sent by the Democratic National Committee, the president also urged voters to host or attend an ¢â‚¬Å“Economic Recovery House Meeting¢â‚¬Â this coming weekend, where a videotaped message from party chairman and Virginia Gov. Tim Kaine would be played to answer questions about the stimulus spending.
¢â‚¬Å“I hope to sign the recovery plan into law in the next few weeks,¢â‚¬Â Obama said in the e-mail. ¢â‚¬Å“But I need your help to spread the word and build support.¢â‚¬Â
Republicans feel they are closer to the spirit of the plan than Democrats. There is a divide- Everyone has an opinion from economists to nonpartisan Budget leaders.
Public works Democrats:
To quicken spending, Sens. Patty Murray, D-Wash., and Dianne Feinstein, D-Calif., are expected to push to increase funds available for public works projects.
Real Estate Republicans:
Republicans are taking the lead on housing, proposing a one-to-two-year government guarantee for a 4% interest rate on 30-year loans for creditworthy borrowers. Members haven¢â‚¬â„¢t yet worked out a definition of ¢â‚¬Å“creditworthy,¢â‚¬Â but GOP officials suggest it would include virtually anyone with a current loan or seeking a new one who¢â‚¬â„¢d qualify under normal lending rules.
Important real advice:
The plans ¢â‚¬Å“won¢â‚¬â„¢t reverse the current economic downturn,¢â‚¬Â said economist Mark Zandi, who advised Republican John McCain during last year¢â‚¬â„¢s presidential campaign and recently testified on Capitol Hill. ¢â‚¬Å“It will be severe, regardless. But (the stimulus) will provide a very vital boost to the flagging economy if it¢â‚¬â„¢s passed quickly, in the next few weeks.¢â‚¬Â
Also being widely discussed among Republicans is a plan to give home buyers a tax credit of up to $15,000, or 10% of the cost of a home this year, whichever is lower.
The plain fact is right before our eyes. The last package was quickly moved into the banks and the very worst thing seems to have happened. Wall street and The Banks did not move the money out into the public. They paid themselves, unheard of amounts of money 35 Million
Where is bottom in the South Bay?
2 Comments Published by popelynne November 17th, 2008 in lender. by popelynneActivity in our area is still bumpy. A little up and then a little quiet. People waited for after the election, we thought.
REO’s are selling. One lady at our Church just bought one and has a LOT of fixing up to do. We know about special financing to help that.
I have two short sales for this year one a list and one a buy. There is just a lot of waiting on those.
Progress for me -last month sold one and this month leased one selling 1 and countering one. Thats’ progress.
This is good news! I just had to share it….
News of the day! They said it…..This is what they said….
“Daily Real Estate News | November 12, 2008
These Cities Are In Line for a Rebound
Have we reached bottom? In many cities, knowledgeable observers say yes.
In October 2005 at the peak of the boom, the median sales price for a U.S. home reached 7.3 times per capita income. By this May it was 5.7 times, just about the historical norm. Home inventories have flattened. The decline in sales has ended ¢â‚¬â€œ and in some places sales have expedited.
“The indicators are starting to look better,” says Adam York, an economic analyst with Wachovia.
Here are seven markets that SmartMoney magazine says are in line for a rebound:
- Seattle
- Raleigh
- Des Moines
- Philadelphia
- Denver
- Birmingham, Ala.
- Salt Lake City
Source: SmartMoney (11/01/08)
Where is bottom in the South Bay?
0 Comments Published by popelynne November 17th, 2008 in lender. by popelynneActivity in our area is still bumpy. A little up and then a little quiet. People waited for after the election, we thought.
REO’s are selling. One lady at our Church just bought one and has a LOT of fixing up to do. We know about special financing to help that.
I have two short sales for this year one a list and one a buy. There is just a lot of waiting on those.
Progress for me -last month sold one and this month leased one selling 1 and countering one. Thats’ progress.
This is good news! I just had to share it….
News of the day! They said it…..This is what they said….
“Daily Real Estate News | November 12, 2008
These Cities Are In Line for a Rebound
Have we reached bottom? In many cities, knowledgeable observers say yes.
In October 2005 at the peak of the boom, the median sales price for a U.S. home reached 7.3 times per capita income. By this May it was 5.7 times, just about the historical norm. Home inventories have flattened. The decline in sales has ended ¢â‚¬â€œ and in some places sales have expedited.
“The indicators are starting to look better,” says Adam York, an economic analyst with Wachovia.
Here are seven markets that SmartMoney magazine says are in line for a rebound:
- Seattle
- Raleigh
- Des Moines
- Philadelphia
- Denver
- Birmingham, Ala.
- Salt Lake City
Source: SmartMoney (11/01/08)
