Housing Market Remains Flat

Image by JAWspeak via FlickrThere's not much bullish sentiment in the housing market. All indications show that home sales are flat and it seems to be going nowhere fast. January was weak, and February is getting off to a weak start thus far. Home builders are less than enthusiastic as well. However the housing market in Canada seems to be holding it's own at this point.

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• Canada's housing market shows signs of resilience (ctv.ca)

What? Take away the mortgage interest deduction?

Image via Wikipedia The real estate industry is suffering enough as it is. The industry would take another big hit if the Obama administration moves to take away the mortgage interest deduction. This is a VERY BAD idea.

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Bank Of America Halts Foreclosures

Image via Wikipedia

Bank of America is just one more of the 'big boys' to halt foreclosures in an attempt to review their process for filing foreclosure against a property. I wonder what effect this will have on the housing industry that is still in a slump?

Share your thoughts.

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• Bank of America halts foreclosures in 23 states (money.cnn.com)
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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