The housing problem has three legs. Banks went from loaning 120% LTV to anyone with a pulse down to 80% LTV but only to people with great jobs, no bills and good credit.
The second problem joins with the first. Having a great job after the great recession is close to a miracle in itself. If you haven’t been downsized then your wages or benefits might have been cut. Or like me riding my last three companies as they disappeared into oblivion. I wasn’t fired but the net effect was the same. No job.
If you have made it this far you might be able to guess the last problem. Over supply is a combination of easy money, good jobs and 50 some years of government support of the housing market through about 10 programs. As these programs began to fail so did the housing market.
I’ve thought of some pretty big solutions to these problems and have thought of a way out. Come join us at HouseForSaleWeb and together we can start rebuilding our country brick by brick. Forget the problem, the solution starts with a visit, then a discussion and finally some action.
As you know most of the world (USA) is freaking out over one month’s bad job report. Economist are saying there could be another 25% drop in house prices in the next 5 years. Don’t believe it. The bad numbers were mainly from combining government layoffs in the report. These people will either retire, start businesses, or work for another company. Give them time to find their way and it will be much less sand in the hot air balloon and more people looking for helium.
The stock market took a big hit today over debt fears. On the other hand we had an offer on a house a new ad came in a few minutes ago. Our country just needs some of the uncertainty out of the way so we can all get back to being Americans. If politicians could clean up their mess I have a feeling everything else will turn out better. 11 July 11
Folks this is what we have been waiting for. http://www.upnorthlive.com/news/story.aspx?id=641081
One of our low population counties had a banner month. Prices are up, sales are up. Michigan has been very hard hit so news like this is especially good.
1. Advertise your property here ($21 instead of $12,000).
2. Interview buyers – look for good credit, jobs, rent history.
3. Pull credit with car dealer or internet credit check.
4. Write up a short description of the purchase agreement.
5. Hire a lawyer for about $250 to write up a contract.
6. Close the deal at lawyer’s office or title company.
7. Remember banks can take 8 weeks (try land contract)
