Real Estate News

Everywhere we turn the media presents us with news about the real estate economy, and depending on which source one relies upon, we are either encouraged or discouraged. Like the fable of the blind men and the elephant, the elephant is like a wall, snake, spear, tree, fan or rope, depending upon where they touch, we are left with a distorted view of reality unless we exert a great deal of effort in studying the facts. The government would have us believe that they have been instrumental in reducing the problems in the real estate and mortgage markets. Actually the government has been the prime driver of the crisis, and continues, through inept handling and a total unfamiliarity with business principles, to prolong and exacerbate the problem. Home values are still declining, foreclosures are increasing, new defaults are increasing, inventories are increasing, and the efforts to"fix" mortgage defaults by encouraging modifications has been a failure. A very expensive failure. Congress is about to pass increased regulation of the financial markets, which sounds good, but is in fact a gift to their friends in the banking industry. With every move they make they increase or extend the uncertainty in the financial and mortgage community, and as a consequence banks are not lending to businesses or consumers, business is not hiring, costs driven by health care changes are going up, taxes are going up, national security is threatened. WOW.
Here are some links to sources for information on the mortgage and real estate market, in no particular order. Number One. Number Two. Number Three. Number Four. Number Five.
Foreclosure Radar reports foreclosure sales are double previous year.
Reality is not all sunshine and flowers, and facing it is necessary to formulating an intelligent coping strategy. We're committed to helping where we can and will assist anyone with modification assistance, without charge, (FREE), just for asking. We prefer you be in our market area.
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