HOW DO RENTERS THINK??

More up-to-date info from John Burns.....

Single Family Renters are different from other renters because they:
  - Have higher incomes
  - Have lower credit scores
  - Have larger households with more kids
  - Are less likely to believe their rent will increase
  - Are more likely to intend to buy a home someday (70% to 59%)
  - Value safety more, and surprisingly see single-family homes as a safer environment

Single-family and multifamily renters bear some resemblance to each other. They both:
  - Believe homeownership makes more sense than renting
  - Believe obtaining a mortgage is very difficult
  - Believe owning provides a safer environment than renting
  - Do not believe home prices will go up in the next year
  - Are not concerned about losing their job in the next year

The two main differences are:
  - Multifamily renters are more likely to anticipate a rent hike (53% to 44%)
  - Single-family renters find credit to be the biggest hurdle to homeownership (29%) while multifamily renters find income to be the biggest hurdle (25%).

View the chart:

http://www.realestateconsulting.com/images/newsletter/SBMI-201209.jpg

Courtesy of:
 John Burns Real Estate Consulting, LLC
16485 Laguna Canyon Road, Suite 130
Irvine, California 92618

Foreclosure....FREE RIDE: 3 Years !!!

Great  Story......

Source: CNN MoneyWednesday, December 28th, 2011, 10:58 am

Delinquent borrowers facing foreclosure are learning that they can stay in their homes for years, as long as they're willing to put up a fight.

Among the tactics: Challenging the bank's actions, waiting to file paperwork right up until the deadline, requesting the lender dig up original paperwork or, in some extreme cases, declaring bankruptcy.

Read the full story >>

Just like I've been telling folks for over a year now...

Dig in your feet & fight......

DISTRESSED HOMES, CRUSHING NEW HOMES

I spent many years selling dirt to New Home Builders & Developers.
At one time, we really had to hustle to have enough homes ready for the Buyers.

Perhaps no one has been harder hit than builders of new homes. The National Association of Home Builders (NAHB) reports that one out of three builders are reporting losing signed contracts during the preceding six months because appraisals are coming in lower than contract sales prices.

With that sort of profit margin, it's no wonder that many builders are staying on the sidelines. Yet, this is pushing the economy to the brink. The NAHB reports that new-home construction is a key to economic recovery. One hundred new homes can mean 300 full-time jobs and $8.9 million in federal, state, and local tax revenue.


Read more at.. 
http://realtytimes.com/rtpages/20111219_realestateoutlook.htm

Here's the BIG PROBLEM coming our way next.....


It takes 2 or more years to get a New Plat approved in most areas.
Will this make a shortage of homes available in the future?
Will this cause home values to escalate,  again?
Will this become another Economic cycle of "ups &and downs" that causes so many problems?
_______________


As the Author / Founder of this Blog, I truly believe in our great
Free Enterprise System that runs the economy in our God blessed
country.  But, we need to have our leaders think carefully, anticipating new problems and balancing the type of fixes that are put into place.  We pick our Congressional leaders to be WISE.


Step up, Man up & Woman up  CONGRESS !!!!!!!! 
---------------------------------
A special thanks to Realty Times for the above article,


Sincerely,  Larry