HOUSING Markets _ BEST Recovery bets

 tacoma, washington 
Here's what CNN Money projects the top 10 markets to be.


Read more at ..... http://money.cnn.com/galleries/2011/real_estate/1102/gallery.best_recovery_bets/index.html

            Median home price: $240,000

            Drop since market peak: 27.9%

            Forecast gain by 9/2012: 11.8%


             

After living in this area for 50 years, I agree completely.
Special thanks to CNN's  Les Christie, the Author of the article.

Larry Tutino

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WHO IS BUYING LOTS ???

MORE Financing Options NEDED..

"Rental yields are high enough to entice some amount of private capital,
but financing for investor properties would certainly attract
more capital and cushion further home price declines," the agency
said in its Amherst Mortgage Insight report.

Amherst Securities believes 10.4 million homes are still at risk
of going into default after analyzing the number of loans that
are currently classified as non-performing, previously delinquent
and underwater. The tightening of underwriting guidelines also
is making it more difficult for investors and homebuyers to get
into the market to extract the access inventory. "It is
increasingly difficult to obtain a mortgage, thus shrinking the
pool of qualified applicants," Amherst wrote.

This news is from Chris McLaughlins site at ...

http://www.mclaughlinchris.com

HOME SALES......UP OR DOWN ???

BLOOMBERG.COM NEWS reported.........

Close to Bottom

“The market continues to bounce along the bottom, with conditions in some locations beginning to improve,” NAHB Chief Economist David Crowe said today in a statement. “The stronger rebound in sales expectations for the next six months likewise marks a return to trend.”

The NAHB confidence survey asks builders to characterize current sales as “good,” “fair” or “poor” and to gauge prospective buyers’ traffic. It also asks participants to gauge the outlook for the next six months.

Builders in three of the four regions were less pessimistic this month. In the South, the gauge rose to 17, the highest since March, from 14 a month earlier. The measure also climbed in the West and Midwest.

By Bob Willis - Jul 18, 2011 7:19 AM PT

One quarter of 2011 was down & one quarter was up. Yes folks, we are finally getting through this HUGE real estate market mess. I call it...HREMM.

It's just like fishing the bottom. You drag along, bouncing up and down, hoping you don't snag your line & WHAM......it's on!

The challenge will then be; have we learned anything and will we handle things better the next time around?

My favorite part of this whole HREMM is how American & Entrepreneurial positive thinking has basically supported and reinvented the market. Massive foreclosures (Investors & Private Lenders handling it), high loan qualification parameters (Investors & Private lenders handling it).

It's a beautiful business picture!

Thanks to all PMA believers,

Larry Tutino, Blog Founder

20% DOWN PAYMENTS??? R THEY NUTS???

“Despite the economic setbacks Americans have experienced in today’s current climate, it is clear that a strong majority still believe in home ownership and aspire to own a home,” said NAR President Ron Phipps, broker-president of Phipps Realty in Warwick, R.I. “However, achieving the dream of home ownership will become increasingly difficult for buyers if they are required to make a 20 percent down payment, which may be a reality for many of tomorrow’s buyers if a proposed Qualified Residential Mortgage rule is adopted. That is why Realtors® are strongly urging regulators to go back to the drawing board on the proposed rule.”

Article from.. http://realtytimes.com/rtpages/20110711_realestateoutlook.htm

To learn more about how my Investors are handling this problem.....

email Larry at... sellorbuyland@gmail.com

US Government GIVING AWAY $$$$$$ AGAIN !!!

This is CRAZY.......

Have you heard about the "Neighborhood Stabilization Program????

The total appropriation for NSP has been $7 billion.

said Rep. Spencer Bachus (R-Ala.), chairman of the committee. "These programs may have been well-intentioned but they’re not working and, in reality, are making things worse."

Rep. Judy Biggert (R-Ill.) said these programs were put up in haste, executed poorly and have done little to restore stability.

"We need to break down barriers that have delayed the housing recovery, including expensive and ineffective government programs that have failed to help homeowners," Biggert said.

This is our tax dollars given away to Cities and Towns to "buy up the REO bank owned & foreclosed homes".

The intent is to make our communities look better, thinking this will increase Single Family home Sales and maintain communities. All of that makes great sense if the Banks were actually providing more loans to the Buyers. They are NOT!

I say, "PRESSURE THE BANKS to loosen up the $$$$$. They just had one of their most profitable years. Put the screw to em....now.

Larry, Blog author.

Read more at this link....

http://www.housingwire.com/2011/03/02/hud-defends-nsp-funds-effect-on-blight

IT's TIME TO CONFRONT THE BANKS......

The BANKS or the FEDERAL RESERVE must be held responsible for this recession/depression!!!!!

Thomas Jefferson said in 1802: 'I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around the banks will deprive the people of all property - until their children wake-up homeless on the continent their fathers conquered.'

Thomas Jefferson (April 13, 1743 – July 4, 1826) was the third President of the United States (1801–1809) and the principal author of the Declaration of ...

Short biography from the official Whitehouse site.
www.whitehouse.gov/about/presidents/thomasjefferson -

My opinion................

We all know that Thomas Jefferson was one of the most intelligent men that has ever lived. Easily ranking with Winston Churchill, Nelson Mandela, Abraham Lincoln or George Washington a government leader.

When will we learn to listen to our elders??????

Are we, today strong enough to make the changes necessary to our over domineering banking system???

Will we, the AMERICAN PEOPLE continue to allow our financial system to run us into the ground?????

Why do we allow our government to run our finances in a way that we would never

run our family's finances. In fact, we would lose our homes and businesses if we ran our

own finances that way!!!!!

I SAY.......STOP NOW ....... TO OUR POLITICIANS. WHY DO THEY THINK THEY CAN CONTINUALLY BE REELECTED??????

Every time you vote, check the politicians financial record first. Over the course of many elections we will eventually get the financially irresponsible politicians replaced.

We will stop passing this ENORMOUS DEBT onto our children.

Thank You for reading. Larry Tutino, Blog Founder

NEW RESIDENTIAL LOTS NEEDED????

NO !! We clearly have enough residential lots available to last a year or two.

John Burns, an analyst I respect and trust and have read for over 3 years has this to say.
Just click on the link below for an eyefull.......

http://campaign.r20.constantcontact.com/render?llr=t6qceacab&v=001_7pdtf0NbxOP2QisbbIL2DnK57kYXX2FqByDxMhf0jh4zI1JTAr_BWAn0LyHaPjiWLgtx21JqlY6-sBCzeEBIRtBRWK3zt2Bzw3_DvIhLmSuI7lzQM0n5FTM__uWRXAaUEIR4iW7LsqZgG5A-GOhk8euCdZQoS-b4cqdXPgM_L_PliFJJHbQh2050uAD2qidLJRUhqwlny53D9gIkvkMATxWHh8CZjbfB_MydVbUAp5EJHcjp4fr-Q%3D%3D

Many thanks to John,

Yours truly, Larry Founder of this Blog

WE STILL WANNA BUY HOMES.....

NEW YORK (CNNMoney.com) -- The American Dream is still alive and kicking, including within immigrant and minority communities, according to a survey from mortgage giant Fannie Mae.

To read more, click on the link below.......

http://www.linkedin.com/news?viewArticle=&articleID=295244850&gid=106811&type=member&item=38341005&articleURL=http://money.cnn.com/2010/12/16/real_estate/homeownership_desire_high/index.htm&urlhash=2mYS&goback=.gde_106811_member_38341005

We all want a home, even after all the tough times.

Thank You, Larry

REDUCTION OF PROPERTY TAXES ????

As I expected, thousands of property owners (residential, commercial, even churches) are requesting hearings & reviews of their tax assessments. Who can blame them? Considering how much values have dropped in the last 2 years.

Read on.....

The backlog of cases from taxpayers seeking to lower property-tax bills of more than $100,000 shot up to 14,236 this year from an annual average of about 6,000 during the past decade. The backlog of smaller claims was at 28,558 at the end of September, eight times higher than a decade ago, according to records at the tribunal, a Lansing-based administrative court.

Go to this link for more.....

http://www.linkedin.com/news?viewArticle=&articleID=301170630&gid=106811&type=member&item=38214115&articleURL=http://www.bloomberg.com/news/2010-12-08/plunging-home-prices-fuel-property-tax-appeals-swamping-u-s-cities-towns.html&urlhash=8VEi&goback=.gde_106811_member_38214115

To contact the reporters on this story: Jeff Green in Southfield, Michigan, atjgreen16@bloomberg.net; Tim Jones in Chicago at tjones58@bloomberg.net.

Thank You, Larry

POSSIBLE SHORT SALE BLUES ??

Here is some very important info for Sellers and RE Agents regarding Short Sales!! From a sharp attorney I know.

Dear Larry,

I have been a part of the Joint Task Force between the Department of Financial Institutions (DFI) and the Washington State Department of Licensing (DOL) and after months of meetings we have created and provided two Guides for Real Estate Professionals working with Short Sales & Distressed Properties.

Please find attached copies of both important pieces so that you can review them, and see how they apply to your practice. If you have any questions on either piece, please don’t hesitate to call.

Regards,

Ed McFerran
Attorney At Law
McFerran, Burns & Stovall, PS
253.471.1200
www.mbs-law.com

2 attachments — Download all attachments

SHORT SALE GUIDANCE.PDF 322K View Download

SHORT SALE SELLER CONSUMER ADVISORY.PDF 198K View Download

IS THIS THE MOST BEAUTIFUL HOME YOU CAN BUY???

I've written about Deltec homes on this Blog before. But, they surely deserve more praise!
Why?? Huge great rooms, Hurricane proof, exemplary company service, intelligent & helpful representatives.......

Call on Kim LeFevers, Deltec's Public Relations Manager.

You have to view their website. They offer a very nice gallery of pictures.
Click on the link below....

http://www.deltechomes.com/photos.php?type=water

Yours truly, Larry Tutino

The NEW YORK TIMES says:

What the NEW YORK TIMES says about housing and residential real estate!!!!!
CLICK on the link above.