Ask and ye shall receive:
Federal Reserve Bank lowers interest rate by half a percentage point.
Tuesday, September 18, 2007
SELLERS - IT'S NOT GETTING ANY BETTER!
http://www.msnbc.msn.com/id/20829849/
Updated: 1 hour, 30 minutes ago
LOS ANGELES - The number of foreclosure filings reported in the U.S. last month more than doubled versus August 2006 and jumped 36 percent from July, a trend that signals many homeowners are increasingly unable to make timely payments on their mortgages or sell their homes amid a national housing slump.
A total of 243,947 foreclosure filings were reported in August, up 115 percent from 113,300 in the same month a year ago, Irvine, Calif.-based RealtyTrac Inc. said Tuesday.
It may open the door for the Fed to be proactive and lower the FEDERAL FUNDS RATE a 1/4 or 1/2 point - that has not been done in 4 years! Will it help the average homeowner in the throes of foreclosure? Probably not. It will merely serve to increase demand for money, which will trickle down to somewhat lower interest rates.
The IRS is now getting involved...they have started a new section for homeowners losing their homes through foreclosure:
http://www.irs.gov/newsroom/article/0,,id=174022,00.html
Sellers, it's not pretty out there - you ARE COMPETING with thousands of other sellers, relocation companies, bank-owned properties, pre-foreclosures, and in-foreclosure properties. Make no mistake - values will continue to decline for the forseeable future as this "mess" continues to unfold.
If you think you are immune, think again. Some economists and real estate professionals are saying we have only seen the beginning on of the foreclosure fallout - the "tsunami" has yet to hit!
Best of luck to all...
http://www.msnbc.msn.com/id/20829849/
Updated: 1 hour, 30 minutes ago
LOS ANGELES - The number of foreclosure filings reported in the U.S. last month more than doubled versus August 2006 and jumped 36 percent from July, a trend that signals many homeowners are increasingly unable to make timely payments on their mortgages or sell their homes amid a national housing slump.
A total of 243,947 foreclosure filings were reported in August, up 115 percent from 113,300 in the same month a year ago, Irvine, Calif.-based RealtyTrac Inc. said Tuesday.
It may open the door for the Fed to be proactive and lower the FEDERAL FUNDS RATE a 1/4 or 1/2 point - that has not been done in 4 years! Will it help the average homeowner in the throes of foreclosure? Probably not. It will merely serve to increase demand for money, which will trickle down to somewhat lower interest rates.
The IRS is now getting involved...they have started a new section for homeowners losing their homes through foreclosure:
http://www.irs.gov/newsroom/article/0,,id=174022,00.html
Sellers, it's not pretty out there - you ARE COMPETING with thousands of other sellers, relocation companies, bank-owned properties, pre-foreclosures, and in-foreclosure properties. Make no mistake - values will continue to decline for the forseeable future as this "mess" continues to unfold.
If you think you are immune, think again. Some economists and real estate professionals are saying we have only seen the beginning on of the foreclosure fallout - the "tsunami" has yet to hit!
Best of luck to all...
Monday, September 03, 2007
JUST LISTED - 19 acre Horse Ranch in beautiful Odessa!
For more information, please email me for our full color, 11 page brochure detailing the amenities this rare property offers horse lovers.
To see the property, visit www.NorthCornerRanch.com
Asking $1.999M
This rare equine oasis is TURN-KEY, offering 22 stalls, a large 4/3 Ranch home, additional 3/3 apartment, and MUCH MORE!
Currently FULLY BOARDED, this property generates appr. $10,000 PER MONTH is boarding income.
For more information, please email me for our full color, 11 page brochure detailing the amenities this rare property offers horse lovers.
To see the property, visit www.NorthCornerRanch.com
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