Real Estate Market: Will a New President Help?

Nearly half of all home buyers (44%) believe the housing market will improve once a new President takes office in January, 2009, according to a new survey conducted by Harris Interactive® and commissioned by Move, Inc., operator of Realtor.com®.

Forty-eight percent of women and 41 percent of men who plan to buy a home in the current market said they think the housing market will get better once the new President is in office.

According to the survey, 81% of home buyers are still nervous about the current housing market and report the existence of barriers between them and home ownership. Despite these reservations, the survey indicates underlying demand for homeownership is healthy. While nearly half (41%) of current homeowners do plan to purchase a home again, 80% of all renters plan to purchase a home someday with 47% planning to purchase a home within the next five years.

What do yo think? Do you think having a new President in office is what the real estate market needs to get back on track? Or do you think it won't really make any difference? We'd love to hear your comments. Click the comment link below and sound off on this question.

Home Energy Audits

Free energy audits from your utility company are a popular way to save up to 30% on your energy bill… but you can always do it yourself!

Money Editor Stacy Johnson explains some of the areas you need to look at if you decide to go the do-it-yourself route, and just what you might expect to pay to have a professional do it for you. (Video runs 1:21)…

Housing: Finally Some Positive News

Housing is getting some good news as the markets keep fighting on despite the front running economists saying its all but dead.

First off, any good news needs a narrative and it starts with Donald Trumps record sale of his Florida Mansion.

Meanwhile U.S. Housing starts unexpectedly surged 9.1% in June, the most in more than two years. Barron's Magazine is asking if the market is ready for the "giddy days again", stating a recovery may well be on its way, while affordability of many real estate markets are being sung across the Country.

Of course, as always, just like when markets started tanking… trends are very much market by market. We believe things are turning around. We're seeing an uptick in people wanting to buy homes again.

What do you think? We'd love to get your feedback. Just give us your comment by clicking the comment link below and sounding off. Your email address will never be published on our site here.

Grills Gone Wild

With summertime temperatures hovering around the century mark in many parts of the country, outdoor grilling becomes a big favorite, even if it does seem hot enough to grill right on your sidewalk.

Everyone is looking for the "grill of their dreams"… but it's important to know what you're comparing when shopping for grills. As Money Editor Stacy Johnson explains, "Not all grills are created equal."

This video runs 1:13…. 

The New Housing Stimulus Package

Even with Presidential veto threats looming, the housing stimulus package has taken another necessary step to being implemented – it has taken on another round of changes, passed the Senate, and is on its merry way to the White House again.

The package is much larger than our aforementioned Foreclosure Prevention Act – it goes by a few different aliases, all hoping to do the same thing – give the US economy the kick in the pants it needs.

Here are the highlights of the new package:

• We all know conventional and FHA loan limits have been raised through 2008. Currently set to expire on New Year’s Eve, the housing stimulus package includes plans to keep them higher than they were in years past – it’s likely to be somewhere around the $700,000 mark. This means lower rates on bigger loans.
• Tax credits for “first-time home buyers” – it’s in quotes for a reason. This group is defined to include actual first-time home buyers and buyers who have not owned a home for at least three years. The tax credit for those buyers can be up to $8,000.
• A property tax reduction for American homeowners—$500 for single filers and $1,000 for joint filers—for the 25+ million homeowners who pay property taxes, but choose not to itemize their deductions.
• What about homeowners already in distress? They’re covered, too – the FHA is working on programs, including FHA Secure, to assist homeowners currently behind on their mortgage and for those who currently owe more than their home is worth. It could help up to 400,000 homeowners potentially facing foreclosure.
• And for the lenders? Better disclosure with regards to the potential changes in mortgage payments during the loan’s lifetime. The information will need to be provided at least seven days before closing.

Those are just the high points of the housing stimulus package. While controversial, Congress has taken ample time to discuss, re-write and re-discuss the bill. It’s coming to the point of fruition – will President Bush sign or not? If he doesn’t, the fact remains that Congress could be so united in the housing stimulus package that they will override him.

What do you think? Will this package pass and get a signature from the President, or will he veto it in this election year? We'd love to hear your opinion. Just click the "comment" link below and tell us what you think. Don't worry, even though you need to insert your email address to post, that email address will not show up here on the site… and no one is going to contact you directly using your email address.. that's our promise! We'd love to hear from you.