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Bank of America, along with other lenders, report that a huge wave of new foreclosures will flood the market, once again.  The second wave in foreclosures is due to the slowing of the loan modification program and the new release of properties that the banks have been holding.

Currently, 1.5 million homes are in foreclosure.  More Worrisome…an additional 3.5 - 4 Million home loans are “Seriously” delinquent or are in default.   Many of these loans are newer, high quality loans that have fallen into trouble due to job losses.  Job losses mean no income, so modifying or saving the loan is not an option for these homeowners.

Buyer Alert:  The $8000 Tax Credit for Buying a Home Expires in Only 90 Days.  If your loan does not close on or before November 30, 2009, you lose $8000 Grand.  Period.   With loans currently taking 90 or more days to close, you must buy a home now, in order to qualify.

Thank you for visiting InfoTube.net.  We have been in the business of helping buyers and sellers for 20 years.  We can help you, too.

Record low interest rates, combined with deeply discounted home prices, have bottom fishers swimming frantically, in search of the perfect deal on the perfect home.  But, before you strike, beware.  Read our 5 Tips to Avoid Getting Hooked in a bad way.

1. 1.  Think Long Term:  This is a market for smart bottom fishers, not flippers.  In this market, our advice is that you should plan to buy a home to live in, then hold it for 3-5 years, at the minimum.  Our reasoning, first, prices have not fully stabilized at these levels.  Secondly, there is no indication that prices will rise any time soon.  Last of all, we are still facing a rise in foreclosures in 2010, which will keep downward pressure on the market. 
2. It’s All About the Local Market:  We have all heard the golden rule of successful real estate investing…Location, Location, Location.  In other words, if you have a choice between a bigger home in an ‘iffy’ area, or a smaller home in a better one, always pick the the Good Location.  Remember, when comparing locations, real estate markets are entirely a Local matter.  There are big differences within neighborhoods, zipcodes, school systems and suburban towns.  Focus on the hottest area’s and the ones that are conveniently located near major employment centers.  In rough sea’s, these area’s will always rebound the fastest and appreciate the most. 
3. Be Wary of Foreclosures:  While some foreclosures may be a great buy, many of these properties are “cheap” for good reasons.  Many of the homes weren’t great to begin with and most have been terribly neglected.   Carefully look for mold, water penetration, structural problems, missing appliances, soiled carpets and flooring underlayments, broken windows and glass, strange odors and any evidence of illegal drug trade.  Also, never get emotionally attached to a foreclosure home.  Banks are notoriously hard to deal with and they can take forever to respond to offers.  Some buyer’s report a wait of several months before the bank approved an offer, or not.
4. Get Pre-Qualified for a Loan:  Submit your letter of loan approval with any offer you make on a home.  Banks always require a letter of pre-qualification before considering a bid, as will any serious seller.  With proof of funds in hand, you will be taken much more seriously by all seller’s, and you will in the end, get a much better deal on the house.   Getting Pre-Approved for financing is no lose proposition.
5. Don’t Take Chances.  Buyer’s are in the drivers seat and a lot of great values are available, but please don’t overspend.  The job market and general ecomony are uncertain.  Make sure you can afford the property, even if you find yourself in a bad or unexpected situation.  Even the perfect property can turn into a nightmare, if you can’t reasonably afford it. 

Thank you for visiting InfoTube.net homes for sale and rent website.  Property Owners can place free listings on InfoTube.net.  Buyers can search the site in complete privacy (no registration) for great deals seen no where else without pesky popups and dead links.

Cash for Refrigerators.  $300 million dollars of stimulus money has been set aside for consumer’s who purchase new, energy saving appliances.   Rebates of $50.00-$200.00 will be available in October on purchases of refrigerators, dishwashers, washing machines and air conditioners.

Program Eligibility:

1. To qualify, the consumer must purchase appliances with an Energy Star designation.
2. You don’t have to “trash” your old appliance to qualify.
3. States must apply to the program before October 15, 2009

Pro’s:

1. Upgrading to an Energy Star rated appliance saves a family $50-$150 per year in utility costs.
2. Rebates will ease the transition into new efficient appliances and help some consumers avoid going into debt in order to upgrade.
3. Could provide a boost to the beleaguered appliance and home improvement industries who are suffering in the bad economy.
4. Helps the environment.

Con’s:

1. No plan for the Trashed Appliances.  Currently there is no plan for proper disposal for the trashed appliances.  Old appliances can be donated or resold, which will not help the environment.
2. If we can’t find a way to recycle old appliances, the program will add more trash to the planet.

Tips for Consumers:

1. Most retailers will haul away your old appliances, when you purchase a new one.   Ask the retailer what happens to the old one, after they pick it up.   Buy only from retailers who can prove that they recycle or destroy the old appliances.
2. Use a Good Recycler to Take the Appliance Away.  Good recyclers will capture all coolants in the units which cause serious harm to the environment.  In addition, they will recycle all the metal and foam contained in the old unit.
3. GE and KitchenAid are offering additional manufacturer rebates on Energy Star Rated appliances now.  Click on the company name for details.

Thank you for visiting InfoTube.net.  We hope that Cash for Refrigerators is as successful as Cash for Clunkers.  If you have been waiting to update your appliances, October will be an excellent time.

For a fun, quick explanation about what closing and title costs are, and how the system of buying and selling a property work, watch this entertaining 2 minute video.

Thank you for visiting InfoTube.net.  Search our database of homes for sale and rent for some great deals seen no where else on the web.

Although there is no place like home, 2009 has been a rough year for homeowners.  We have all suffered in this market, but our deepest sympathies go out to those living in the 25 worst markets.

Worst 25 Housing Markets 2009

 Rank       Real Estate Market       2009 Forecast
    1.        Detroit, MI         − 36.8%
    2.        Manhattan, NY         − 32.8%
    3.        Grand Rapids, MI         − 28.4%
    4.        Phoenix, AZ         − 25.9%
    5.        Miami , FL         − 24.2%
    6.        Long Island, NY         − 22.7%
    7.        Las Vegas, NV         − 21.7%
    8.        Fresno, CA         − 20.2%
    9.        Bakersfield, CA         − 19.3%
   10.        Riverside, CA         − 19.1%
   11.        Lansing, MI         − 18.8%
   12.        San Jose, CA         − 18.5%
   13.        Anaheim, CA         − 18.3%
   14.        Los Angeles, CA         − 18.2%
   15.        Oakland, CA         − 18.2%
   16.        Scottsdale, AZ         − 17.8%
   17.        San Francisco, CA         − 17.6%
   18.        Seattle, WA         − 17.4%
   19.        Reno, NV         − 17.2%
   20.        Glen Falls, NY         − 16.9%
   21.        Boston, MA         − 16.8%
   22.        Providence, RI         − 16.4%
   23.        San Diego, CA         − 16.1%
   24.        Atlanta, GA         − 16.1%
   25.        Sacramento, CA         − 15.7%

Thank you for visiting InfoTube.net.  We invite you to place a FREE property listing on our site to reach more buyer’.  Have a great Monday.

Low Appraisals and Appraisal problems are causing a lot of headaches for sellers, buyers and agents.  For a look at one customer’s problem with an appraisal and some practical solutions to solve the matter, CLICK HERE.

Thank you for visiting InfoTube.net.  We invite you to place a Free Property Listing or Search for some great deals on our site.  We have listings seen no where else and we have NO dead links or come on ad’s.

It seems everyone these days is looking for a bottom in the housing market, or a sign of normalcy, as we’ve known it.  The truth may be that housing will never return to what normal has been in the past.   The reason isn’t the just the economy or tighter lending standards, it’s may be simple demographics.

Please consider why trends in housing may have changed, Permanently.

1. Baby Boomers:  The baby boomers (born 1946-1964) are the largest and spendiest generation in American history, and their 40 year shopping spree is coming to an end.  
2. McMansion Glut:  Boomers are buying fewer single family homes and they are getting rid of the suburban McMansions they purchased when their children lived at home.  Evidence already shows that boomers favor 2 and 3 bedroom condo’s over 4 or 5 bedroom houses.   The Boomer trend to a smaller house, combined with fears of gas prices and long commutes, mean that the big house in the burbs is not the ideal dream house or location that is has been in the past.
3. Baby Boomers, Again:  Boomers are reorganizing their finances.  After the stock market crash, and with retirement approaching, fewer boomers will be purchasing vacation and second homes. 
4. Generation X:  The generation born between 1965-1976 will be unlikely to bid up home prices.  First, there are only 44 million X’ers compared to 76 million boomers.   Secondly, they are not as wealthy as their parents, and they are deeper in debt, due in part to college loans. 
5. Migration Back to City Life:  Due to our aging population, smaller family size and energy costs, people are returning to urban area’s that have not been overbuilt and offer quality of lifestyle. 
6. Permanent Changes:  The days of buying a huge home on a big lot, and paying for it with a 2 hour commute, may be ending.  This trend could mean that owners in McMansion communities, with little to no public transportation, will havetrouble finding buyers.   Some people predict that the large, single family homes, located miles from urban centers, will be subdivided into inexpensive housing for low and moderate income families, as the car lovers who moved to the burbs return back to the convenience of city life.

One thing that is certain is that change happens.  As environmental, economic, political and cultural forces change the way we live, our view of residential home investing will change, too.

Thank you for visiting InfoTube.net homes for sale and rent website.  We invite you to place a FREE home listing on our site or search for your dream home in complete privacy.   Click on our RSS feed to stay current on our articles about real estate and if you have a comment or question, please click the link below.

Green News Alert:  A new paint additive, Insuladd, developed by the government, cuts energy costs and reduces mold and mildew.

Insuladd insulating paint additive increases the “Mean Radiant Temperature” of any home or office and provides energy savings by reflecting and dissipating heat.   Reports show an average decrease in utility bills of 20 percent (and, as high as 40 percent for in some homes) after a home or building has been painted with the additive.  

Product Features:

• Increase the R value by making paint insulating.
• It is safe and non-toxic
• It can be applied to roofs, walls and ceilings.  Interior or exterior.
• It works in hot or cold climates.
• Reduced heating and cooling costs, while increasing comfort.
• It prevents mold and mildew by blocking moisture and condensation.
• It can be added to any house paint.
• Can be used for all residential or commercial paint applications

Tips for Using the Product:

• Add the mixture to your paint, then stir throughly before applying.
• If you want a satin or gloss finish, add Insuladd to the primer coat and first coat.  Apply a finish coat without the additive.
• If you want a high gloss coat on trim, don’t use the additive.
• Insuladd will leave a very slight texture to the walls that can be felt, but usually isn’t visable.  It may hide cosmetic defects such as gouges, dents and surface imperfections if 2 coats are applied.
• Insuladd is ideal for light colored paints and you will notice no change in the color of your paint.
• If you are using a dark paint, Insuladd may lighten the color by up to one shade.   If this is a problem, tint the paint one shade darker at purchase.
• Don’t pour the mixture into a one gallon paint can to avoid overflow.  The additive will overfill a full gallon of paint.  Pour the paint into a 5 gallon can, add additive and mix.  Left over paint with additive can be stored in the original container for touch ups.

Paint, insulate, save money on energy bills, increase the comfort of your living space, prevent mold and mildew.  What’s not to love.

Thank you for visiting InfoTube.net.  We have been helping home sellers since 1988 and we can help you too.  Check out all the freebies on our site.

If you are selling a home that qualifies for FHA financing, you are required to complete a Transfer Disclosure Statement (TDS), before the buyer’s loan can close.  With closings taking up to 90 days to happen, it is imperitive that you don’t hold up your sale.   See the criteria below to determine if you need to complete this form.

1. If the home qualifies for FHA financing, and you occupy the home, you MUST complete this form in order to sell your property.
2. If you are advertising your home as a “short sell” and live in the home, you MUST complete this form in order to sell your property.
3. For those homes listed by an agent or broker, the agent only has to request the form from the seller 3 times and they are off the hook.
4. This form is not required for non-owner occupied housing (ie: foreclosures and bank owned).

With the first time buyer tax credit expiring in a couple of months, you don’t want to lose a sale because you have not completed this simple form.  Make sure you complete it and provide it to all buyer’s.

Thank you for visiting InfoTube.net.  We are here to help you buy and sell real estate.  Post a Free Ad on our website or Search our database, in complete privacy, for some great deals on houses.  Home sales are definitely picking up, don’t let the end of the selling season pass you by.   Have a great weekend and happy selling!!

I have been watching HGTV’s “Real Estate Intervention” for a few weeks now.  As a real estate professional for the last 25 years, I give this program a Big 2 Thumbs up!!  If you are buying or selling real estate, this program is a must see.   Check it out on Thursday nights at 10:30E/9:30C on HGTV. 

The HGTV Synoposis of the Show is:   In this current real estate market, pricing is everything. And the best way to really find out how much your house is worth is to check out the competition. Real Estate Intervention takes motivated sellers on a tour of other listings in the same area and same price range. They’ll get to see firsthand who their competition is and whether they’ve priced their house right. Does the competition have better closets? Granite counters? A bigger backyard? Which home is the best value for the dollar? We’ll help them determine the best way to get top dollar — and in the end we’ll see which home sells first!

Bonus:  Do you want to be on TV???  If you are confused about how to price or market your home and want objective advise, can contact HGTV and be on the show.  Click this link to contact HGTV. and tell them InfoTube.net sent you.

Thank you for visiting InfoTube.net.  We are here to help you buy and sell real estate.   If you like what we do and you want to receive updates about our short, informative articles, click on the RSS feed on the right hand side of the page.

We’ve all heard the sage advise “Location, Location, Location” when it comes to successfully selecting a good piece of property.  But, what is truly important to buyers as they search for their ideal Location? 

Seller’s, the answer may surprise you!  It isn’t being near fancy restaurants, parks, churches or friends and family. 

The Top 5 Things Buyers Look for in a Great Location are:

• #1 - Being Close to Work.  By far, the most popular choice among homebuyers when selecting a home to buy.
• #2 - Splitting the Distance to Work between Spouses.  Runner up for most important factor in buying a home– an ideal location must be about half way between your job and mine.
• #3 - Good Schools.  No Surprise Here, other than we thought it would be #1.  It’s Not.  Could it be that a lot of buyer’s don’t have kids?
• #4 - Entertainment.  Convenience and having fun things to do nearby the home is still important to buyers.
• #5 - Friends and Family.  It made the list, but certainly isn’t a major factor for buyer’s looking for a good location.

(In case you’re wondering, Safety wasn’t apart of the location poll, because staying alive and robbery free is important to all of us.  It is assumed that if you don’t feel safe, the commute time really doesn’t matter to you.)

Why does this information matter to home sellers???  This insight gets to the heart of what people will sacrifice for and what they will not.  It seems that the true hunt for location is not based on prestige or having nearby boutiques, its one that allows for a balance between life and work. 

Home Seller’s can profit from this knowledge by knowing their town, and by asking the buyers where they work and how they live.   Smart seller’s learn where nearby large employment area’s are.  They know the easiest, fastest or least traveled routes to major job centers and area’s of interest.  They know about the neighborhood school district and the drive time to school, if the buyer has children.  And, most importantly, they convey this information to the buyer, in the order of importance.

The Bottom Line is:  If you find a home that is in a good neighborhood and close to your job, you will usually end up finding all the other things that are important to you, too.  Now, show and sell.

Thank you for visiting InfoTube.net homes for sale and rent FREE website.  Place a FREE listing or Search in Privacy thru thousands of ideally located properties.

Today’s Article of Interest for Real Estate Lovers:  3 Reasons that Interest Rates will Stay Low.

A recent news article by Reuters states that “The percentage of U.S. homeowners who owe more than their house is worth will nearly double to 48 percent in 2011.”  

Meaning? Half of us will be upside down, underwater, or whatever you want to call it over the next 2 years?  Pretty scary.  How do they know that?   One indicator they use may be the Shadow Inventory of Homes, which will eventually enter the market place over the next 3 years. 

So, what is a Shadow Inventory of Homes and How Does it Affect Future Home Values?  Technically, a property is not in foreclosure until the lenders files against a deliquent loan.   Lenders are purposefully not filing to foreclose, in order to control the present inventory by keeping homes off the market.  This creates a Shadow Inventory of Homes in Default.  Why do they do this?  Simple economics, really.   Less supply creates more demand (ie: higher prices) for the property they already have for sale.

Since, we know lenders are holding back the number of homes that should be in foreclosure, how many “shadow” distressed properties will come into the market in the future?  Truefully, we can’t know the exact number.  That is the reason it is referred to as a Shadow Inventory.  We can all see that the problem is lurking out there, but we can’t identify the exact numbers or the amount of future damage because “only the shadow knows…”.

Thank you for visiting InfoTube.net homes for sale and rent website.  We invite you to Place a Free Property Listing or Search for Thousands of Great Deals from the Privacy of your Home.