Showing posts with label foreclosures. Show all posts
Showing posts with label foreclosures. Show all posts
Tuesday, August 17, 2010
The FDIC and it's deal with IndyMac and OneWest Bank
Check out this video on the deal the FDIC made with IndyMac and OneWest Bank and thier investors on buying up foreclosures and short sale mortgages. After watching this, you'll probably need a large container of Gold Bond Medicated Powder.
Friday, June 18, 2010
Another Tax Credit Extension
By now I'm sure a lot of you have heard that on Wednesday the Senate voted to approve the extension of the First Time Home Buyers tax credit.
What does this do? It allows for buyers who had a purchase contract executed on or before April 30th of 2010 until September 30th to complete the purchase of the home.
Is this a good thing? Well, it's a fair decision, but maybe not a good one.
Why? Because, as a Realtor, I can tell you that on average, in this market, it takes longer than 2 months to close most real estate transactions involving a distressed property, and even some that do not involve a distressed property. So, it does allow some home buyers the advantage of of the $8k tax credit, which is fair.
On the other hand, from my perspective as a Realtor, it's just another method of propping up the economy and the housing market, instead of allowing it to regain stability and strength, organically.
By allowing this credit, it could possibly create a similar environment to develop which helped create the housing market collapse. It allows for a large number of home buyers to purchase a home with little, or in some cases, no vested interest.
Isn't that a BIG part of what started this mess in the first place?
Warmest,
James Helms
What does this do? It allows for buyers who had a purchase contract executed on or before April 30th of 2010 until September 30th to complete the purchase of the home.
Is this a good thing? Well, it's a fair decision, but maybe not a good one.
Why? Because, as a Realtor, I can tell you that on average, in this market, it takes longer than 2 months to close most real estate transactions involving a distressed property, and even some that do not involve a distressed property. So, it does allow some home buyers the advantage of of the $8k tax credit, which is fair.
On the other hand, from my perspective as a Realtor, it's just another method of propping up the economy and the housing market, instead of allowing it to regain stability and strength, organically.
By allowing this credit, it could possibly create a similar environment to develop which helped create the housing market collapse. It allows for a large number of home buyers to purchase a home with little, or in some cases, no vested interest.
Isn't that a BIG part of what started this mess in the first place?
Warmest,
James Helms
Tuesday, January 5, 2010
Short Sale versus Foreclosure
Are any of you out there struggling with this decision? Is your back against the wall? As a Real Estate professional and a Certified Distressed Property Expert, I can assure you there is a big difference between the two. Allow me to give you my analogy on the two; as far as your credit goes, a short sale would be like falling of your bike and scraping your knee. A foreclosure; that would be like getting hit by a train.
Think about your decision carefully.
James
Think about your decision carefully.
James
Thursday, August 13, 2009
Housing recovery
Palm Beach Post reports: "Housing shows signs of hitting bottom".
Is it over? You tell us.
Visit our website for a FREE Market Snapshot!
http://SellMyWestPalmHome.com/
James Helms -- Post From My iPhone
Is it over? You tell us.
Visit our website for a FREE Market Snapshot!
http://SellMyWestPalmHome.com/
James Helms -- Post From My iPhone
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