#1 Threat to Housing Recovery: Shadow Inventory

Are you waiting for the market to turnaround before you sell your home? Read this article from Steve Harney, it will give you a different perspective!

#1 Threat to Housing Recovery: Shadow Inventory

Has Housing Hit Bottom..2010 Real Estate Market Predictions.

Here's an article I read from Tim Harris. I hope you find it informative. KD

What if you knew FOR SURE..without a doubt…that in the next 6 months the real estate markets would be much worse than they are now.

My question for you is this:…what 3 things would you be doing differently now? What would you be learning…what actions would you be taking?

Go ahead now and actually write down the first 3 things that came to your mind:

1)

2)

3)


READ THE ENTIRE ARTICLE HERE!

It’s Not About Foreclosures. It’s About Pricing!

Here's an article I read from Steve Harney. I hope you find it as interesting as I did. KD

Many of our readers question why I spend as much time as I do on the foreclosure situation in the country. I want everyone to know that it is NOT an obsession with depressing news. I strongly believe that the wave of distressed properties (foreclosures and short sales) coming to market will dramatically impact house values for the rest of 2010 and probably 2011. I want to make sure that every seller and buyer remains on top of this issue so that they can best evaluate the options for themselves and their families. I hope every real estate professional understands the issue well enough to simply and effectively communicate the effect it will have on their customers’ decisions.


READ MORE It’s Not About Foreclosures. It’s About Pricing!

Where Will Home Prices Be in 2012?

Here's an article from Steve Harney. Check it out!

Where Will Home Prices Be in 2012?

Pricing a House in Today’s Real Estate Market

by Steve Harney on March 25, 2010 in Pricing


A question that I am often asked is how you correctly price a home in today’s rapidly evolving market. The word that comes to my mind first when thinking about pricing is compelling. If you are looking to sell a home anytime this year, I believe you must make the price so compelling that a buyer cannot pass it up.

The reason I feel so strongly on this point is because I believe house prices will continue to fall throughout this year and perhaps well into 2011. Why do I feel this way? Let’s break it down...

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Built on Jenga Blocks, Home Prices Look Shaky

The Homebuyers’ Tax Credit, in many ways, has done exactly what it was suppose to do – stimulate the economy. Notice I didn’t say increase home ownership. The tax credit was never really about buyers. It was about keeping home values stable so the housing sector would not have another wave of foreclosures that would cause a further deterioration of the economy.

The administration realized early on that the number one cause of foreclosures was an increase in ‘negative equity’. Negative equity occurs when the value of a home is less than the mortgage balances on that home. Other terms for this situation are being ‘underwater’ or ‘upside down’ on your mortgage.

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Fed Flip-Flops on House Flips

Finally, some good news from the FHA. Effective February 1st, the FHA is waiving their requirement of the “90 day holding period” before home sellers (predominantly real estate investors and speculators) can resell a piece of real estate to a buyer who uses FHA Insured financing. Given the recent increase of the UFMIP, coming reduction of seller’s concessions, and lower credit scores requiring larger down payments, it is refreshing to see the FHA enacting something that will actually help move inventory and improve neighborhoods.

There are multiple reasons why this is a good idea:

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