The latest housing news was just released for October 2009. Although this news looks backward, it also provides some insight about what we can expect the housing market to look like in 2010. Good? Bad? The answer depends on what your are looking to achieve, your outlook, location and financial goals.
What we Know Now!
The number of foreclosures now exceeds the number of new and existing homes for sale on the market, combined.
The number of new foreclosures coming into the market place will certainly increase through mid-2010.
Subprime foreclosures are in the rear view mirror. The new foreclosures coming to the market stem from prime borrowers. This will result in an increased inventory of more expensive, luxury and second homes during this foreclosure cycle.
If tax incentives, low prices and low interest rates boost buyer confidence, then sales demand should keep pace with the new supply. Result, house prices should remain fairly stable.
If unemployment and job concerns keep buyers on the sidelines, the inventory supply will increase, thus home sale prices will seek out new lows.
Seller’s of homes priced in excess of $500,000 will see much more competition and longer days on the market in 2010.
The increase of Foreclosures and Bad Loans was Expected. Lenders anticipated a worse, ’worst case scenario’ during their Fed mandated Stress Tests. Thankfully, the Fed should not have to intervene further to keep banks solvent, like they did last year.
If the jobless rate falls below 500,000, expect upward pressure on interest rates. The Fed is already walking a very fine line in trying to keep rates artificially low at this point. Any relief in the job market will likely mean an increase in rates and mortgage payments.
The 4 states hardest hit in the housing crash will continue to see the highest rates of default and foreclosure. But, much further downside is limited in these beaten down area’s.
The foreclosure problem is spreading into cities and states that were less troubled earlier in the cycle. New locations and regions of the country will see record numbers of foreclosed property. The hardest hit communities in 2010 will be some of the previously most stable.
Bottom Line: Whether you’re a bull or bear depends upon whether you are buying or selling. But, this is what you should expect and watch for in 2010.
Homes in lower price ranges will see price stabilization due to less inventory and tax incentives. Bargain shoppers seeking more expensive homes will have plenty of inventory to chose from. Vacation and second home shoppers get more for their money, in more locations, as a record number of these wonderful homes fall victim to the gavel. The 4, hardest hit states will still experience problems, but seller’s in new, previously stable area’s of the country will sustain the most damage this go around. Home builders will continue to struggle in the face of the largest inventory of existing homes they’ve seen yet.
Thank you for visiting InfoTube.net FREE homes for sale and rent website. If you are selling, there isn’t a better time than now. Get serious and use all the tools available to you, in order to preserve your cash. We have helped sellers in all types of markets since 1988. We can help you, too! Call us at 1-800-858-6000 or visit the site Today!
If you dream of going off the grid… If you giggle at the thought of paying less than $500 a year for electricity…today’s solar power may be perfect for you.
Here are a Few Resources and Tips to Help You Decide
Read Ed Begley Jr.’s Guide to Sustainable Living
Watch the Planet Green channel
Do a home energy audit at energystar.org or call your power company.
Find Cash Back Offers. Tax incentives abound for energy savings. Too see what is offered in your area, check for incentives and rebates on a federal, state and local level.
Improvements in solar technology mean financial savings within 6 years, depending on your location and property. Check it out. Solar may be the perfect answer for your needs.
For all Twilight fans who would love to get closer to the Cullen family, the time is now. The Vancouver home where ”New Moon” was filmed can be yours for only $3.3 million!! If you’ve dreamed about sleeping in Edward Cullens bedroom, this may be your only chance. All bragging rights included!
The 5 bedroom, four bath home is ideally suited for well heeled vampires and humans alike. According to the listing broker, the property is a modernist’s dream, with extensive use of glass and post and beam style throughout the soaring, open spaces. The fantastic views of the surrounding Pacific Northwest landscape only add to this home’s considerable charm.
Thank you for visiting InfoTube.net. Our FREE website features some out of this world deals!! Place a Free Listing; Download Free Legal Forms; Print Brochures; View Video Tours and More.
Is it a sign of the economic times, or more like MC Hammer deja vu??
Academy Award winning actor, Nicolas Cage, lost 2 New Orleans homes to a foreclosure sale this week.
More bad news for freespending Cage. He owes more than $6 million in back taxes to the IRS. And, his properties in California and Las Vegas have been foreclosed on and are scheduled for auction this month.
Mr. Cage owed the City of New Orleans $151,730 in back real estate taxes and defaulted on his $5.5 million mortgage debt. His home at 1140 Royal Street in the French Quarter, valued at $3.5 Million, sold for $2.3 million. The other property located at 2523 Pataniya Street, appraised at $3.3 million, sold for only $2.2 million. Pataniya Street is located in the Garden District. Famous neighbors include author Anne Rice and football great Archie Manning, father of Peyton and Eli.
Bad Times or Crazy Spending? Nicolas Cage, a member of the famous Coppola family, is known for being a big spender and news maker. His obsession for Elvis resulted in a one minute marriage to Lisa Marie Presley. He once paid $276,000 for a dinosaur skull. At one time Cage owned 2 islands in the Bahama’s, luxury yachts (plural), a room full of shrunken heads and drove a stable of expensive cars, including a Lamborghini.
Stars may occassionally fall to Earth, Nic won’t stay long. Nicolas Cage and the Coppola family are Hollywood Royalty. His movies have generated over $8 Billion in Box Office Sales. Although Mr. Cage is facing financial ruin because he continued to spend, while millions of dollars drained from his bank accounts, we predict he will crank out more movies and will be back to living the high life in no time. Also, it is rumored that Johnny Depp may come to Nic’s rescue. It seems Depp has a soft spot for Cage, who got him his first roll in Nightmare on Elm Street. Aren’t friends great!!
According to a survey by Move.com, 12.1 percent of homebuyers intend to purchase an investment property this year, compared to only 5.6 percent of buyers polled in April.
The percentage of investors shopping for property also jumps higher when it comes to foreclosed property. 42 percent of foreclosure buyers are purchasing for an investment. 57.6 percent of foreclosure shoppers plan to live in the home they buy.
The survey also shows that 23.6 percent of investors and buyers believe that home prices are already as low as they will go. Nearly 20 percent feel a sense of urgency when searching for a bargain.
Another factor motivating home buyer’s off the sidelines is the real threat of rising interest rates. Wall Street guru’s, who agree on very little, warn that lending rates will rise in the near future. With real estate prices at their lowest levels, buyers risk much more in waiting to purchase, than they do by locking in record low rates on their loan.
Prediction: We believe the leading indicator of an interest rate hike will be falling unemployment claims. When unemployment claim filings fall below 500,000 per month, a rate hike is likely!
Thank you for visiting InfoTube.net Free homes for sale and rent website. Happy Home Shopping!!!
I’m thinking Turkey. The leaves have fallen, lawn mowers are stored and furnaces are in use. It’s at this time of year that many of our customer’s ask… “Should We Take Our Home Off the Market During the Holidays?”
The First Time Buyers Tax Credit has been extended until April 30, 2010 AND it’s been expanded. Step Up Home Buyers, who make a lot of money, can also receive $6500 in Tax Credits until April. Big tax incentives mean that smart buyers will be house shopping vs mall shopping this holiday season.
Interest Rates are at Record Lows. 30 year fixed rate mortgages are below 5 percent. But, with the dollar weak and falling, low rates may not be around for long. Serious home buyers are aware of the difference that even a small interest rate increase would make in their house payment. The combo of Tax Credits and Low Interest Rates create strong urgency among buyer’s. Smart seller’s spruce up their homes and play into the pressure.
Holiday Shoppers are Serious Buyers. Trust me. Everyone of us loves the holidays. So, the people who are out looking for homes in November, December and January are SERIOUS Buyers. Do you really want to pull your house off the market when the most serious people are shopping?? Think about it and gear up!!
Less Competition. Many sellers don’t read our blog. They foolishly pull their homes from the market during the holidays, and this year will be no exception. Less competition and MLS exposure could make the difference between For Sale and Sold, this Christmas.
Houses are Pretty during the Holidays. Staging your home is easy during the holidays. The mood is festive. Holiday colors are warm and inviting. Candles, centerpieces and decorations touch the heart and convey a peaceful lifestyle. Light the candles, make a roaring fire, bake some goodies and turn on some relaxing holiday music. Buyer’s love to see a home decorated and looking special. Don’t let this once a year opportunity pass you by.
Curb Appeal. If your landscape and lawn isn’t that great, breathe a sigh of relief that no one else’s is this time of year, either. Add seasonal color, a wreath, perhaps some decorations. Just keep it subtle and classy. No mowing, no weeding and trimming, and best of all snow covers all…
Thank you for visiting InfoTube.net FREE homes for sale and rent website. Thanks to all Veterans and Active Military Personnel!!! Call us today and receive a FREE Property Listing Upgrade as our gift to you.
The latest news about home sales through October 31st, was nearly more scary than Halloween. Here are the high or low lights, depending on your market position.
Existing home sales were up 11 percent, due mostly to the $8000 tax incentives.
Sales prices were down 11 percent. Average US home price is now $177,900.
One third of all homes sales were short sales or foreclosures.
Foreclosures are up nearly 90 percent. And, the banks reported that one-third of all their foreclosures are being held off the market. Their strategy is to trickle more homes on the market, in hopes of keeping inventory lower, and therefore, prices higher. Bottom Line. There will be a huge second wave of Foreclosures hitting the market in 2010.
The loan crisis isn’t over, it’s just starting in new places with new people. Most defaulting subprime borrowers are already on the street. When picturing the new homeless, visualize the bigger, Prime borrowers. Expect foreclosures to rise dramatically in Salt Lake, Provo and Boise. Also, expect a new surge of foreclosures in upscale, step-up homes and communities.
Thank you for visiting InfoTube.net homes for sale and rent FREE website. We have helped Americans sell homes since 1988. Anyone can post a property listing for FREE, on our site or Search for great deals in complete privacy. We never sell or distribute user information, EVER. We are a US manufacturer, who sells to US retailers and that pays our bills! We don’t need to churn email lists!!
Veterans Day, Wednesday, November 11th is a very special day for all Americans.
It is our special time to say thank you to all the men and women who serve and protect this country. It is our special time to say thank you for keeping America free. It is our special time to take a moment of silence for all who paid the ultimate price for us to protect this nation.
As our special way of saying thank you to all Veterans and Active members of the military, InfoTube.net is offering FREE Featured Home Listing Upgrades on Veterans Day!!! Just phone 1.800.858.6000 or send an email to nicole@infotube.net with your ad number. It’s that easy!!
We are happy to report that other Businesses are joining us in giving back to Veterans and Active Military Personnel on Veterans Day!!! Check out the Free Offers of Food, Goods and Services for all Veterans on Wednesday.
Applebee’s, McCormick & Schmicks and Golden Corral are serving up FREE meals. Drop by and enjoy a juicy steak, shrimp, chicken or whatever makes you happy.
Outback Steakhouse may be from “down under”, but they love US Vets!! Stop by Outback for a FREE Blooomin’ Onion Appetizer and Beverage.
Krispy Kreme donuts will sweeten up your life with FREE Hot Ready Now Donuts. YUMMY!
For Vet’s in the mid-west, Hy-Vee Supermarkets is providing a FREE, all you can eat, Breakfast Buffet. Stop by start your day right!
Home Depot and Lowes are offering a 10 percent discount at the register!! Save big on your home improvements or holiday needs.
The Federal Government offers FREE access to all Federal Parks and Recreation Sites. Grab the family and enjoy a day together.
Thank you for visiting InfoTube.net homes for sale and rent website!! To all Veterans and Active Military, THANK YOU and please don’t forget to claim your FREE Home Upgrade on Wednesday.
Mortgage giant Fannie Mae announced that it is willing to play “Let’s Make a Deal” with homeowners who are behind on their mortgage payments.
According to CNBC, Fannie Mae will give homeowners, who are in default on their loan, the option of renting the home and staying put for up to one year. To be eligible, the homeowner must sign over the deed to the property.
Thank you for visiting InfoTube.net homes for sale and rent website. We offer free home marketing assistance and thousands of great deals on property. Check us out!!!
Great news for home buyers, sellers and owners, alike. The homebuyer tax credit has been expanded to include step up buyers, who have owned a home for 5 years. It also extends the tax credit through the end of 2010.
GREAT NEWS!
It appears that Senate Democrats have recognized the tremendous value of the First Time Homebuyers Tax Credit and odds are it will be renewed soon. At this time, it is believed that the credit will allow anyone purchasing a home, by April 30, 2010, to participate and receive the full credit available.
The credit will continue until the end of 2010, but the amount of tax credit will drop by 2 percent every 90 days. The graduated benefit should help the housing market recover into and through the 2010 summer selling season.
Here is the text of the story as reported in Bloomberg News today: Senate Democrats on Board with Credit Extension
Senate Banking Committee Chairman Chris Dodd (D-Conn.) says Senate Democrats have agreed to extend the first-time home buyer tax credit. The latest version extends the program to home sales signed not closed by April 30. Purchasers would have another 60 days to close the sale. The credit will also be expanded to include so-called step-up buyers who have lived in their current home for at least five years.
The credit would be cut slightly to a $7,290 cap. Income eligibility for first-time home buyers would stay the same, but it would rise for step-up buyers to $125,000 for individuals and $250,000 for couples. Source: Bloomberg News, Dawn Kopecki and Ryan Donmoyer (10/27/2009)
Don’t you love these cakes? If you have creative baking talent and want to share your Halloween Treat design with us. Please email your pictures to tommi@infotube.net
I don’t know if any of you watch Cake Boss on TLC network, but it is fun and fabulous. Their new season just started. Check it out.
Thank you for visiting InfoTube.net FREE homes for sale and rent website. We have been connecting buyers and sellers since 1989. We can help you market your property, too. Check us out!
Take a look at this Great cake for watersport and beach lovers!!
Gotta love the Zombie’s!!
HAPPY HALLOWEEN FROM EVERYONE AT INFOTUBE.NET!!! CHECK BACK WITH US TOMORROW. WE HAVE MORE FUN CAKES FOR HALLOWEEN!!
Halloween, October 31, 2009. This year Halloween falls on a Saturday and marks the end of Day Light Savings Time. Be Safe and Don’t Forget to Roll your Clocks back at 2:00 am, Sunday morning.
InfoTube.net FREE homes for sale and rent website is wondering: “Would you would eat these cakes???” We will feature more incredible, edible Halloween cakes everyday this week. Then, we are off to celebrate Halloween in New Orleans, LA and check out the housing recovery in the Big Easy.
Thank you as always for visiting InfoTube.net. Click the comment box below to weigh in on your favorite Halloween Cake. Tommi Crow’s favorite is the one above. Too Cool!!
I would probably eat this one. Funny, but not too nasty and I love cake.
Now that is pretty knarly, but that dark chocolate looks good.
Which one is your favorite??? Click the comment box and tell us. If you have a cake you want to brag about, email a photo to tommi@infotube.net
Good news for US Housing. For those of you still searching for a BOTTOM in the real estate market, we hit it in January 2009. A double bottom, in fact. Take a look at the CHART.
China raised its minimum down payment requirement to 40 percent, in an effort to slow down the overheated housing market in Hong Kong. Conversely, in the US, we still offer financing with NO Money Down, when the tax rebate is combined with FHA or VA financing. Quite startling in light of the lessons we learned from subprime loans.
Uncle Sam Added 5 Percent to Home Prices. Government interventions in the housing market have inflated home prices at least 5 percent higher than they would have been. Artifically low interest rates, $8000 tax credits, push for loan modifications and efforts to stall foreclosures may have created a false bottom. Since the props won’t last forever, the risk of price decline in the future is significant.
Thank you for visiting InfoTube.net a FREE homes for sale and rent website. Since 1988, we have kept our fingers on the pulse of the housing market. If you would like to receive a reminder when we release a new article, click on our feed below.
The stock market is back to 10,000, the level it reached in 1999. Sales of existing homes were up a whopping 8 percent, to the highest level seen in 2 years. The news is abuzz about an extension of the First Time Buyer Tax Credit….But, is it time to “Party like it’s 1999″???
Here is a snapshot of Friday’s real estate news. You decide.
A record number of people snapped up bargains in September. The median price of a home sold in the US fell to 174,000, down 9 percent from $191,200 one year ago. Note: The significant price drop could be blamed in part to the First Time Buyer Tax Credit which favors the lower priced homes.
Keep in mind that the homes counted as “sold” in September were actually purchased in June, July and August. No doubt the push to buy this summer had something to do with the expiring $8000 Tax Credit.
70 percent of all homes closed in September were foreclosures or distressed property.
80 percent of the homes closed, were sold for less than $250,000. The market above $250,000 has stalled and inventory is rapidly growing. And, the more expensive the home, the slower the market.
The biggest sales gains (not price gains) were seen in the hard hit cities of Miami and Orlando. Sales in Miami were up 71 percent from last year, Orlando 65 percent. Note: Prices are still falling dramatically in the Sunshine state. In Miami and Orlando prices declined more than 30 percent from last year; Tampa prices fell to $133,000, down 17 percent.
Sales of existing homes were down nearly 20 percent in Atlanta and Birmingham. Local Realtors blame job loss for lack of activity.
Prices were flat or up a bit in some cities: Dallas, Houston, San Antonio; Tulsa; Jackson, MS and Washington DC.
Thank you for visiting InfoTube.NET. Search our site for thousands of great deals on property or Post your Property Listing for Free. We never sell your info or spam anyone. No popups or dead links since 1989. Happy Friday to all!!
If you are considering an update for the old vinyl flooring in your home, go natural. Natural linoleum, made from wood and cork, limestone dust, pine rosin and linseed oil, is a fantastic, green material substitution for the petroleum-based products of old. Natural linoleum is available in either sheets or individual tiles, it offers an endless suppliy of color and pattern choices and is a great product for residential or commercial use.
Why We Like Natural Linoleum
It’s Versatile. Marmoleum is available either sheet or tile forms. It is used in both residential and commercial settings. Great for resturants and offices, too. The product can be used on floors and countertop surfaces. It is sold in a wide range of colors and patterns. Some patterns mimic quarried stone, others are mottled for subtle texture and other options include high tech MRI images. The applications and decorating options are only limited by the owner’s imagination and tastes. A Do-It-Yourselfer can easily install the tiles themselves, just like vinyl. It’s Low Maintenance. Manufacturers estimate the lifespan of natural linoleum at 30-40 years, compared to 10-20 for vinyl. Scratches are no problem. The surface is hard, and even becomes harder over time. Additionally, any surface scratch can be buffed out, because the color extends through the entire thickness. For cleaning, a dry mop is recommended for routine maintenance.
It’s Green and Better for the Environment. Natural linoleum is much better for the environment than petroleum based, vinyl products. Vinyl’s are not sustainable and are highly polluting in their manufacturing process. Natural linoleum is made from wood, rosin, limestone and linseed oil. All these materials occur naturally and are sustainable. When it’s time to remodel, natural linoleum can be shredded and turned into compost for the garden versus filling a landfill. Additional bonus, natural linoleum will last and look good for a least least twice as long as vinyl.
Disadvantages. The linseed oil in the products “off gas” and some people are sensitive to its fumes. We advise that you air out the product for a few weeks before you install it, if you have a sensitive reaction to the smell. Like most plant-based products, linoleum doesn’t perform well in area’s with constant moisture. Test the moisture content of floor slabs before installation. Use Caulk to seal edges around tubs and showers where flooring abuts. The only other disadvantage is probably the initial cost of the product. Marmoleum costs around $4.00 per square foot, compared with $1.50 to $2.00 for vinyl flooring.
The latest housing news was just released for October 2009. Although this news looks backward, it also provides some insight about what we can expect the housing market to look like in 2010. Good? Bad? The answer depends on what your are looking to achieve, your outlook, location and financial goals. 
Bottom Line: Whether you’re a bull or bear depends upon whether you are buying or selling. But, this is what you should expect and watch for in 2010.
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