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Stimulus All Locations : Nationwide Real Estate Advice

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  • Home Selling42K
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Activity 650
Showing results for Stimulus [Clear search]
Thu Apr 5, 2012
Scott Godzyk answered:
Absolutely NO.

One and done... His lack of attention on the economic items such as jobs and too much attention on things such as what is happening in Arizona, building in NY City, Beer summits and the killer of small business 'Obama care" .

Please see my blog on this subject
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0 votes 69 answers Share Flag
Thu Aug 19, 2010
Ralph Windschuh answered:
Are your friends renting? If so, let's just say they pay $2000 a month for rent. That's $24,000 a year that's going out the window, not paying down the mortgage and not entitling them to any tax benefits from the deduction of their mortgage interest and property taxes. Let's say they wait two years: that's $48,000 out the window. Also, let's say home prices continue to decline but interest rates go up, where's the savings? Nowhere. It's a great time to buy. Prices are low, there's a lot of inventory, and the interest rates are incredibly low. With a presidential election not to far off and the stimulus money really coming into the economy in 2011 and 2012, where do you think house prices will go - UP!

Ralph Windschuh
Certified Buyer Representative
Senior Real Estate Specialist
Associate Broker
Century 21 Princeton Properties
631-467-0009
rwindschuh@c21princetonproperties.com
In The Top 2% of Century 21 Agents Nationwide!
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0 votes 1 answer Share Flag
Wed Aug 18, 2010
Deborah Madey answered:
Without reading the contract, I wouldn't know the terms and conditions. What does it say about the closing date? Since builders often encounter delays beyond their control, there may be terms built into the contract that address extensions or delays. What does it say in the contract about delays or extensions?

Read the contract through . If you believe (or suspect) that the builder has failed to fulfill the terms of the contract, take the contract to an attorney, Only an attorney can give you legal advice.

Does the agent who assisted you work for the builder or for an independent broker? What has your agent told you about the delay?

It's common for builders to miss their target completion dates, but these delays seem excessive. As far as what you can do about it, I can only refer you to your contract, agent and attorney for assistance.
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0 votes 9 answers Share Flag
Sat Mar 24, 2012
Lynn Bowen answered:
Only time will tell us that I'm afraid. I sure wish I had that crystal ball that the media likes to make it look like they have.
0 votes 15 answers Share Flag
Wed Sep 15, 2010
Anna M Brocco answered:
To buy now or wait is a decision only you can make based on your finances, wants, needs, lifestyle, etc.; as for the waiting--unfortunately, none of us can answer with accuracy as none of us knows where the market will head tomorrow or down the road--however, we all know today--again a decision only you can make. ... more
0 votes 102 answers Share Flag
Sun Aug 29, 2010
Rudi Hofmann answered:
Yes. Go to dre.ca.gov ..... Happy funding, Rudi
0 votes 9 answers Share Flag
Sun Aug 8, 2010
Joseph Runfola answered:
How much longer can the government bribe the public with the public's money?
0 votes 5 answers Share Flag
Tue Apr 30, 2013
Joseph Cortez answered:
I think it comes down to people truly believing that in the long term real estate is a sound investment. They need to feel comfortable that their money is being put to good use. They also need to be reminded that buying a home is not just an investment, but is serves a right now need. It's the most basic of all conversations with buyers yet they forget, BUY VS RENT.
There is the fear that they will overpay and get stuck later. This may be true only in the short term. The people that got really hurt were the ones that over bought or bought for the short term. Real Estate is a long term investment, not a 2 or 3 year deal.

If another stimulus was enacted (not sure how it will be paid for) I would like to see the funds be available for closing cost. A $4K closing cost package would probably do more good. Cash upfront is king.
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0 votes 26 answers Share Flag
Sun Aug 8, 2010
Jennifer Blackwell answered:
Great stuff for the Active Military!

http://www.trulia.com/blog/jennifer_henning/2010/04/service_members_get_an_extra_year_to_utilize_the_home_buyer_tax_credit
0 votes 2 answers Share Flag
Wed Jul 7, 2010
Dan Chase answered:
It convinced people to overpay to get houses they did not really like so they could get free money.

Many people bought houses only because they could use the free money as a down payment.

It interfered with prices doing what they should have done.

It pulled future buyers into what is now the past. That creates a vacuum of buyers now and into the future.

It created more of a federal deficit than we needed to have.

Was it a success? If you define a success as doing all kinds of bad things and doing nothing of a permanent nature to affect the housing prices then sure, it was a success of wasting money and making bad deal happen.

If you define success as actually helping in a long term way anything the answer is no. It was a failure.
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0 votes 2 answers Share Flag
Thu Jul 8, 2010
Jeanne Feenick answered:
I think buyers have gotten back on the fence in a general way for a number of reasons - most noteably the economy, lack of government stimulus (although these interest rates are motivating some as well they should), the usual cyclicality of the summer season, and then there is the oil spill - I can only imagine that it is adding to the level of uncertainty and creating additional hesitancy in Florida.

What a mess - I hope we can recover from this in our lifetime.

Best,
Jeanne Feenick
Unwavering Commitment to Service - in New Jersey
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0 votes 7 answers Share Flag
Tue Feb 12, 2013
Joan Braunschweiger answered:
Start by researching on your own. There are so many online real estate resources these days.

Once you get an idea of what is out there and perhaps what price range, house specifics (how many beds/baths, how much property, how much square footage, neighborhood, etc.), then start interviewing agents. Your question is bound to attract a lot of agents who will tell you to contact them. Instead, interview as many agents in person as it takes until you feel comfortable with one who has the knowledge, personality, patience and an obvious interest in what you need/want. Do not settle or get pushed into anything that is uncomfortable for you.

All cash is great but leave room for other costs associated with buying a home (inspection and title search are important) as well as a comfortable cushion for the normal (and not always so normal) house expenses that crop up.
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0 votes 10 answers Share Flag
Wed Jul 14, 2010
Richard Lecinski answered:
I do not think the tax credit wll be back. The govenment has been spending so much money in all areas and there seems to be a mood in Congress by many o stop spending. I guess the questions is, "Where would the money come from to pay for another tax credit?" ... more
0 votes 18 answers Share Flag
Fri Jul 2, 2010
Anna M Brocco answered:
Unfortunately, none of us can answer with accuracy, as none of us knows where the market will head tomorrow--much will depend on economics, interest rates, employment opportunities, etc. ... more
0 votes 3 answers Share Flag
Sat Aug 6, 2011
Scott Godzyk answered:
The time to negotiate is BEFORE you put any money down to hold a property. If a builder is requiring you to put a deposit down to hold a lot, and teh contract is subject to teh buyer and builder coming to agreement on a terms and a price, then at leats you have held you lot and have a way out iof teh builder will not work with you or is charging too much.

You want to go intio negotiations with everything you want up front. especially in new construction you should have a buyer broker who is well expereinced in new construction to guide you, if you already put down a deposit it is too late to briong in an agent to represent you on this property.

For now you need to make a list of things that you must have, then a list of things you would like to have but could live without, have the builder price it with the must haves and ask them to throw in the wants at no cost or at least at cost.

Good luck with your purchase
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0 votes 4 answers Share Flag
Thu Jun 24, 2010
Don Tepper answered:
You have to go through your lender for the HAMP (Home Affordable Modification Program) program.

The government web site for the various programs is http://www.makinghomeaffordable.gov/ It's possible a HUD-approved housing counselor may be able to help. From the government's web site:
~~~~~~~~~~~~~~~~~~~~~~~
A HUD-approved housing counselor will talk to you about your situation and help you decide what mortgage options are best for you. A counselor will explain what documents you will need to provide to your mortgage company and may be able to contact the mortgage company on your behalf.

If your daughter is delinquent on her mortgage, here's the number to call: 888-995-HOPE (4673)

Hope that helps.

A housing counselor can also help you make a budget so that you can meet your monthly mortgage payment and other expenses. The counselor will have information about local resources that may be helpful to you.

There is no charge to work with a HUD-approved counseling agency.

HUD sponsors housing counseling agencies throughout the country that can provide advice on buying a home, renting, defaults, foreclosures, credit issues, and reverse mortgages.
~~~~~~~~~~~~~~~~~~~~~~~~
Here's a link to finding a HUD-approved counselor: http://www.hud.gov/offices/hsg/sfh/hcc/fc/
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0 votes 1 answer Share Flag
Sun Jun 20, 2010
Anna M Brocco answered:
Why not begin by contacting your current lender first regarding refinancing-- and go from there.
0 votes 3 answers Share Flag
Sun Jun 13, 2010
Ron Rovtar answered:
Hi Tara-Nicholle:

Except that the government will get less tax money, I see no problems with extending the closing date beyond June 30th. If the government does not extend it, some the 180,000 buyers noted by NAR could be in serious trouble. Losing the $8,000 could put some marginal buyers into a hardship situation. They might have to walk, meaning they would lose their earnest money. I would be interested in hearing an answer from a mortgage broker. I can imagine cases where a lender would withdraw a loan commitment over the loss of $8,000.

Best,
Ron Rovtar
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0 votes 16 answers Share Flag
Sun Oct 3, 2010
Don Tepper answered:
My opinion: No.

There was plenty of time allowed--2 months--for sales to close. More if the contract was written prior to May 1.

I assume that most of the sales that may not close by July 1 are short sales, and perhaps some foreclosures. Who's to say that they'll close by September 30? Or November 30? Or December 31?

I understand the anxiety of folks who are worried that their purchases may not close. But that's a risk with short sales and foreclosures.
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0 votes 7 answers Share Flag
Tue Sep 28, 2010
Trevolyn Haines answered:
Hello Roxy,
It almost sounds as though the home you wish to purchase is a short sale & the lender you are waiting to hear back from is the lien holder? If it is, that could be the problem.
Could you give us more info?
Trevolyn
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0 votes 28 answers Share Flag
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