Infotube.net: Homes for Sale - For Sale By Owner (FSBO) - Real Estate Listings

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!

1. The number of foreclosures now exceeds the number of new and existing homes for sale on the market, combined.
2. The number of new foreclosures coming into the market place will certainly increase through mid-2010.
3. 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.
4. 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.
5. If unemployment and job concerns keep buyers on the sidelines, the inventory supply will increase, thus home sale prices will seek out new lows.
6. Seller’s of homes priced in excess of $500,000 will see much more competition and longer days on the market in 2010.
7. 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.
8. 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.
9. 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.  
10. 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!

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 answer is definitely ”NO”.  There are a lot of reasons to keep your home listed right through the New Year.  And, there’s a special timely reason this holiday season!!

1. 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.  
2. 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.
3. 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!!
4. 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. 
5. 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.
6. 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.

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!!

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.

Thank you for visiting InfoTube.net FREE homes for sale and lease website.  Search for properties or post your listing.  We connect thousands of buyers and sellers each day, and we can help you get more exposure, too.

Not surprisingly, real estate industry lobbiest are attempting a full court press as they make a final push for extension of the first-time buyer tax credit.   

And, it’s little wonder.  The IRS estimates that 1.4 million homebuyers have claimed the credit through August, and the Realtors Association estimates the credit was crucial in pushing 355,000 of those buyer’s off the fence.   

If the real estate industry gets it’s way and the amendment passes, the $8000 tax credit would be extended to June 30th, 2010 and it would allow more taxpayers to qualify for the subsidy.  The amendment would increase the income limit to $150,000 for a single filer and $300,000 for a couple, up from the current limit of 95,000 and $170,000, respectfully.

The Pro’s: Why Vote “Yea”

1. Lenders are still in trouble, as more people default or fall behind on their mortgages.  Experts predict an additional 1.5 million foreclosures in 2010, increasing supply and further eroding prices and demand. 
2. Dems and Rep like it.  The proposal was introduced by a GA Republican, Johnny Isakson, and it is also supported by Democratic heavy-weights.  House speaker Nancy Pelosi and Senate Majority Leader Harry Reid support the extension, President Obama hasn’t taken a position for either side.
3. Still too Many Houses.  Although the supply of existing homes on the market has fallen from 1-5 months down to 8.5 months, a healthy market has only 5-6 months supply of house.
4. Unemployment is Rising.  With national unemployment levels at 10 percent, and some states reporting a far higher number, extending the taxpayer subsidy of housing market would likely create and preserve jobs.  In addition, people out of work usually means more loan deliquency, foreclosures and further downward pressure on pricing.

The Con’s:  Why Vote “NAY”

1. The Cost to the Taxpayers.  The extension comes with a heavy price tag of $16.7 BILLION over 5 years.
2. As bad as Sub-Prime.  Opponents argue that the subsidy has artifically propped up the prices of inexpensive homes, targeted by first-time buyer’s, thereby creating another potential mini-bubble in affordable housing.
3. Both Opponents and real estate industry admit that most people who claimed the $8000 deduction, would have purchased a home anyway due to historical low rates and steep price declines.
4. Fraud.  The IRS has identified over 100,000 cases of fraud involving the tax credit.  On Thursday, the House Ways and Means Committee is scheduled to take a closer look.
5. Did we mention the cost to taxpayers is $16.7 BILLION?

Yea or Nay???  We thank you for visiting InfoTube.net FREE homes for sale and rent website.  The website provides free legal forms and contracts, marketing and sales tools, real estate advice, news and updates for buyer’s, sellers, agents and builders.  We invite you to subscribe to our feed or leave a comment in the space below.

Toxic, sulfur laden sheetrock, Made in China, is making people sick, causing electrical wiring to go crazy and is corroding copper, wire and stainless steel in American homes.   The problem has affected thousands of homes in 20 states, yet, the US court system is powerless when to hold Chinese manufacturers (most of which are owned by the Chinese government) responsible for problems caused by their products.

The hardest hit area of the country may be the slowly recovering New Orleans area, and the coastal area’s wiped out by Katrina.  After enduring floods and mud, this man-made victimization is the last thing these communities need or deserve.   For those wondering how bad the problem is….The problem is so bad that local governments, already low on funds, are waiving property taxes for homes rebuilt with the Made in China, toxic sheetrock.

                                      Facts About Toxic Chinese Drywall and Sheetrock:

1. The sheetrock may emit a sulfuric odor, which smells a bit like rotten eggs.
2. Health Problems are being Reported.  The most common health effects from the drywall are skin rashes, blisters and headaches.
3. Homeowners insurance does not cover claims due to construction defects.  When insurers discover a property has Chinese drywall, they are canceling homeowner policies.
4. The gases emitted by the Chinese Drywall eat away at any copper, aluminum or stainless materials inside the home.  This means that appliances, wiring, mirrors, computers, toys, plumbing pipes and fixtures, jewelry, HVAC or any systems that contain these component materials will also be damaged, usually beyond repair
5. Seller’s of Homes that contain Chinese Sheetrock must disclose that fact, even if all the sheetrock in the home has been replaced.
6. If your home contains any Chinese Made Drywall/Sheetrock file a compliant with Consumer Product Protection Council and also check about making a local compliant with your state.
7. For updates on the Chinese drywall, multi-district lawsuits (MDL #2047 to to www.laed.uscourts.gov and click on Drywall MDL.

One tell tale sign of toxic sheetrock can be seen in the corners of mirrors

Watch for corrosion in and around plumbing fixtures, refrigerators, ac units, on stainless steel appliances or any area with metal components.  

Our two cents:  In light of this most recent, very serious, and potentially deadly, problem with cheap imports, all Americans need to reconsider their ongoing love affair with everything cheap and Chinese.  If the US government, who allows these imports, can’t force the Chinese manufacturers to stand behind the products they sell, then the retailers, who chose to buy these goods should have to.    The cost of uprooting families and replacing all the sheetrock, mechanical systems and personal property in over 60,000 reported homes is overwhelming.   If anyone deserves a taxpayer bailout, it’s these innocent homeowners who have been victimized by governments and retailers, alike.

Thank you for visiting InfoTube.net.  All our products are MADE, ASSEMBLED and SHIPPED right here in the USA!!!   In November, we will celebrate our 20th Anniversary, proving that you can hire US workers and run a profitable business.   Thank you for your support over all these years and please tell your friends about us!!!

Dear InfoTube,

My Uncle, who owned a unit in a co-op apartment building, passed away recently.  If the heirs decide they do not want to sell the unit, will they be allowed to stay there part time?  Or, can they chose to live in the apartment if they  wanted to? 

Dear Niece,

Unfortunately, the answer to both of your questions is No.  Under all proprietary leases, occupancy is limited to the shareholder, only.  If a shareholder is deceased, no other person can live in the apartment without the consent of the co-op.  When your Uncle was alive, he could ask family members and guests to stay in the apartment, but only if he was there, too.

If you decide to keep the apartment, the new shareholder of record will need approval from the co-op board before they occupy the unit.   Even for a week or two.

Thank you for visiting InfoTube.net FREE homes for sale and lease website.  We have been in the business of connecting buyer’s and seller’s since 1989.  We can help you, too.

Case Shiller just released its latest report on the state of the residential estate market.  The good news is that home prices are falling more slowly.  The bad news is that that we have a little ways to go.

What the Numbers Show:

• Through August, 2009, the price of an average home sold in the US fell approximately 13 percent, year over year, from 2008 levels.
• Home prices have now dropped to 2003 valuation levels, wiping out 6 years of home appreciation.
• Since the peak in 2006, average home prices are down 33 percent.

What Do the Numbers Say About the Future??

• Prediction:  The “average” home price will likely fall more than 13 percent by year end.  Reason:  Home prices are always at their highest in the spring and summer.  Families move during this time of year and they buy the largest, most expensive properties.  As a result, Summer home sales skew the “average” price upward in the fall, but only temporarily.
• Prediction:  Home Sales will suffer a downturn due to the expiration of the $8000 First Time Buyer’s Credit.   So far this year, 350,000 buyers have been persuaded to purchase because of this incentive.   To read more about the success of the 1st Time Home Buyers Tax Credit, CLICK HERE.

Our Crystal Ball:  The pace of the fall is slowing, but the expiration of the tax credit and the ”shadow inventory” of another 1.5 Million foreclosures will continue to put downward pressure on the market in 2010.  As a result, we predict that 2010 home prices will decline 6-7 percent.  The upside is that nearly all buying risk is out of the market.  Interest rates are at historical lows.  Any increase in rates would erase the possible gain a buyer would achieve from correctly timing the exact bottom…even if the timing were perfect. 

Bottom Line:  If you plan to buy a home within the next year, now is a great time.   Chose the best home, in the best location and the one that you can easily afford.  Live and enjoy the home for at least 5 years and you will likely be patting yourself on the back for a job well done.

Thank you for visiting InfoTube.net homes for sale and lease FREE website.  We have been in the business of connection Sellers and Buyers for 20 Years.  Chances are that we can Help You, too!!

The $8000 Tax Credit for first time home buyer’s (people who have not owned a home in the last 3 years) expires on November 30, 2009.    With the expiration date drawing near, the Realtor and builder lobby groups are pushing lawmakers to extend the program for another 6 months.   If they are successful, it will cost taxpayers of nearly $15 BILLION.  

“Yea” or “Nay”???    Before we cast our vote, we decided to find out whether the tax incentive successful or not?  Specifically, did it persuade people to jump into the market?   Would it be a good investment for taxpayers going forward?

According to a poll conducted by Zillow, the tax credit was persuasive.

• 18 percent of home buyers said the tax credit was the main reason they pushed to buy a home before November 30, 2010.
• Based on the number of first time buyer’s in the marketplace, a 6 month extension could persuade another 335,000 (18 percent) buyers to buy a home of their own.
• If the first time buyer credit is extended, home sales would likely increase 5 percent.  Without it, sales would be down as much as 2 percent.
• Only 31 percent of first time buyers said the credit had no influence on their decision to purchase. 
• 69 percent of buyers said the tax credit was important in motivating them to buy a home this year.

Thank you for visiting InfoTube.net homes for sale and rent website.  If you have an opinion about extending or expanding the tax credit for homebuyer’s we would love to hear from you.  Click the Comment link below.   Your privacy is completely protected.

Marketing a vacant home can be difficult challenge, because empty rooms are hard to size up and they don’t stand out in a buyer’s mind.  This leaves every vacant home looking like the one next door, with the only difference in a buyer’s mind being, which home has the lowest price.

This problem may have been solved by Krisztina Bell, a smart Atlanta Realtor, who invented and patented a software program that will “virtually” stage any vacant property for around $250.  Her company has been heralded by the Chicago Tribune, San Francisco Chronical and other publications as the answer to giving the effect of a professionally staged home at a fraction of the cost.

With 90 percent of home buyers doing their shopping online, and thousands of vacant homes on the market, Ms Bell’s idea is smart and timely.  Her technique transforms listing photo’s of vacant homes into homes with professionally designed interiors, using a library of attractive furnishings, accessories and artwork.   The resulting “after” photo’s are realistic, authentic and hard to distinguish from a home that has been actually staged with furnishings.

To view the Photo Gallery of some impressive Before and After Pictures, please visit her website VirtuallyStagingProperties.com, by clicking this link.  You will be amazed.  And, if you have a vacant home to sell, you should seriously consider this inexpensive option and make your home pop.

Thank you for visiting InfoTube.net homes for sale and rent website.  If you virtually stage your home, be sure to upload the slideshow to InfoTube.net.  Thousands of buyer’s search our site daily for new information on properties.

One of the things that can turn off buyer’s, stop a sale or detract from a properties resale value is Wallpaper.   Why don’t buyer’s like wallpaper??  First, it is usually a real pain to take down.  Secondly, it is very taste specific.  There is obviously no “standard” or ”popular type” of wallpaper, because there seems to be endless supply and I have never seen the exact same wallpaper, twice.  Meaning, the odds of being hit by lightning are probably greater than 2 people liking the same paper.

If you plan to stay in your home a while and you want some wallpaper in your house, well, it is your house.  But, please, go sparingly. Avoid busy, colorful and loud types. And, please don’t forget to “size” the wall before you apply it, or you won’t get it off without destroying the wall surface underneath.

Tip for HomeSeller’s:   But, if you are trying to sell your home, without success, and it has a lot of wallpaper or busy, dated wallpaper, you can do yourself a big favor by pulling it down and applying a fresh coat of neutral paint.   A crisp, freshly painted room never turns off buyers. 

 The same can never be said about wallpaper.    Thank you for visiting InfoTube.net FREE homes for sale and rent website.  We have been helping seller’s and buyer’s connect since 1988.  We can help you, too.

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.

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.