If you're like most homebuyers, you have two primary considerations in mind when you start looking for a home. First, you want to find the home that perfectly meets your needs and desires, and secondly, you want to purchase this home for the lowest possible price.
When you analyze those successful home buyers who have the experience to purchase the home they want for thousands of dollars below a seller's asking price, some common denominators emerge. Negotiating skills are important, but there are three additional key factors that must come into play long before you ever submit an offer.
This topic has been the subject of extensive analysis by industry experts, and a summary of their findings, and a specific step-by-step purchase plan for homebuyers, can be found in a new special report called "Homebuyers: How to Save Thousands of Dollars When You Buy".
This FREE report outlines the psychology of how a seller sets their asking price, and gives you 3 simple steps to follow, before you even set foot in a seller's home, which will ensure you are able to successfully slash thousands of dollars off the price of the home you want.
Order this report NOW to find out how you can save thousands of dollars when you buy a home.
Saturday, January 24, 2009
Tuesday, January 20, 2009
$700 Billion TARP Funds To Now Be Used For Consumers: Second Half Of Funds Should Be Aimed At Main Street
With today marking the inauguration of Barack Obama, new is that his presidency will focus more on helping consumers, local governments and businesses than banks as his administration deploys the second half of the $700 billion rescue fund, said Lawrence Summers, the president- elect's top economic adviser.
"The focus isn't going to be on the needs of banks; it's going to be on the needs of the economy for credit," Summers said on CBS's "Face the Nation" program. Obama's team will manage the Troubled Asset Relief Program "in a very different way," he said.
In fact, Summers' remarks indicate banks and their executives face tougher scrutiny in seeking money from the bailout after the Obama administration takes office Jan. 20. The TARP may be redirected to address "housing to prevent foreclosures," "automobile loans, consumer credits, small business, municipalities," he said.
On the other hand, Treasury Secretary Henry Paulson committed most of the initial $350 billion of the TARP to capital injections in exchange for warrants and preferred equity. Summers said banks will be subject to more oversight in their use of the funds.
"There's going to be a very different level of rigor in the evaluation of institutions, the plans that are designed, and the expectations for institutions," Summers said. "Institutions that are healthy, that don't need it just to survive, are going to be expected to lend above their baseline levels as part of this program."
Following up, Treasury Secretary-nominee Timothy Geithner and his advisers will be "carefully" monitoring Wall Street bonuses of banks that have participated in the TARP, Summers said.
Bank Take Overs
Summers also said, "What's not going to happen is the funds that could be supporting increased lending are going to be used to finance acquisitions that may serve a bank but don't serve the country". The new administration will also prevent banks that accept government funds from pursuing acquisitions to the detriment of increasing lending, he said.
Summers said the results of TARP so far have been "unsatisfactory," a sentiment echoed by another Obama adviser speaking today in a separate interview.
"It's clear that it has to be administered in a much different way," David Axelrod Obama's chief political adviser, said in an interview on ABC's "This Week" program. "The point is to get credit flowing again to businesses and families across the country -- that hasn't happened with the expenditure of the first $350 billion."
$825 Billion On The Way?
Summers said he is confident Congress will pass a spending plan, coupled with tax cuts, similar to the $825 billion package that Obama has offered. Such a stimulus has been forecast to create 3 million to 4 million jobs, he said.
"I expect the program will pass within in a month," Summers said. "He is going to do what is necessary to get us out of this economic hole."
As the U.S. economy showed further signs of buckling, according to reports last week, it is clear there is still work to be done.
"There's almost no question that the economy is going to decline for some time to come," said Summers, who served as Bill Clinton's last Treasury secretary. "Our errors are not going to be of standing back."
"The focus isn't going to be on the needs of banks; it's going to be on the needs of the economy for credit," Summers said on CBS's "Face the Nation" program. Obama's team will manage the Troubled Asset Relief Program "in a very different way," he said.
In fact, Summers' remarks indicate banks and their executives face tougher scrutiny in seeking money from the bailout after the Obama administration takes office Jan. 20. The TARP may be redirected to address "housing to prevent foreclosures," "automobile loans, consumer credits, small business, municipalities," he said.
On the other hand, Treasury Secretary Henry Paulson committed most of the initial $350 billion of the TARP to capital injections in exchange for warrants and preferred equity. Summers said banks will be subject to more oversight in their use of the funds.
"There's going to be a very different level of rigor in the evaluation of institutions, the plans that are designed, and the expectations for institutions," Summers said. "Institutions that are healthy, that don't need it just to survive, are going to be expected to lend above their baseline levels as part of this program."
Following up, Treasury Secretary-nominee Timothy Geithner and his advisers will be "carefully" monitoring Wall Street bonuses of banks that have participated in the TARP, Summers said.
Bank Take Overs
Summers also said, "What's not going to happen is the funds that could be supporting increased lending are going to be used to finance acquisitions that may serve a bank but don't serve the country". The new administration will also prevent banks that accept government funds from pursuing acquisitions to the detriment of increasing lending, he said.
Summers said the results of TARP so far have been "unsatisfactory," a sentiment echoed by another Obama adviser speaking today in a separate interview.
"It's clear that it has to be administered in a much different way," David Axelrod Obama's chief political adviser, said in an interview on ABC's "This Week" program. "The point is to get credit flowing again to businesses and families across the country -- that hasn't happened with the expenditure of the first $350 billion."
$825 Billion On The Way?
Summers said he is confident Congress will pass a spending plan, coupled with tax cuts, similar to the $825 billion package that Obama has offered. Such a stimulus has been forecast to create 3 million to 4 million jobs, he said.
"I expect the program will pass within in a month," Summers said. "He is going to do what is necessary to get us out of this economic hole."
As the U.S. economy showed further signs of buckling, according to reports last week, it is clear there is still work to be done.
"There's almost no question that the economy is going to decline for some time to come," said Summers, who served as Bill Clinton's last Treasury secretary. "Our errors are not going to be of standing back."
Wednesday, January 14, 2009
SEARCH PHOENIX HOMES FREE!
Hi everyone!
Sylvia here to let you know that you can search the MLS for FREE!!! That's right I did say FREE!!! Just CLICK HERE to search thousands of up to date listings in the Phoenix Metro Area.
Don't want to spend time searching through listings that don't meet your needs?? Check out our FREE HOME HUNTING SERVICE
Sylvia here to let you know that you can search the MLS for FREE!!! That's right I did say FREE!!! Just CLICK HERE to search thousands of up to date listings in the Phoenix Metro Area.
Don't want to spend time searching through listings that don't meet your needs?? Check out our FREE HOME HUNTING SERVICE
Tuesday, January 13, 2009
DANGER! Buyer Traps
How to Avoid 9 Common Buyer Traps BEFORE Buying a Home
Avoid Paying Too Much When Buying a Home
Buying a home is a major investment no matter which way you look at it. But for many homebuyers, it's an even more expensive process than it needs to be because many fall prey to at least a few of many common and costly mistakes which trap them into either paying too much for the home they want, or losing their dream home to another buyer or, worse, buying the wrong home for their needs.
A systemized approach to the homebuying process can help you steer clear of these common traps, allowing you to not only cut costs, but also buy the home that's best for you.
An industry report has just been released entitled "Nine Buyer Traps and How to Avoid Them". This important report discusses the 9 most common and costly of these homebuyer traps, how to identify them, and what you can do to avoid them.
CLICK HERE Order this FREE REPORT NOW to learn how to avoid costly buyer mistakes before you purchase your next home.
See you soon!
Sylvia
Monday, January 12, 2009
House Bill Aims to Stabilize Housing, Addresses Foreclosures and Stimulus
A bill that embraces the need for righting the housing market—the first big step toward economic recovery—was introduced Friday in the U.S. House of Representatives.
Washington, January 09, 2009
H.R. 384, The TARP Reform and Accountability Act, was offered by Rep. Barney Frank (D-Mass.), chair of the House Financial Services Committee. The bill would require the Treasury Department to develop a program, outside the Troubled Asset Relief Program, to stimulate demand for home purchases and lower property inventories, by making affordable mortgages available for qualified buyers through interest rate buydowns, a priority of the National Association of Realtors®.
The measure would amend the TARP provisions of the Emergency Economic Stabilization Act of 2008 to make significant steps to reduce foreclosures, strengthen accountability and close loopholes. Treasury could consider the impact of areas with the highest inventories of foreclosed properties.
NAR President Charles McMillan was heartened by the legislation that would move the housing market forward. “The bill proposed by Chairman Frank is an important first step toward launching a real estate recovery. Housing has always led this country out of economic downturns, and this bill recognizes that the key to bolstering the overall economy is creating stability in the real estate markets. With foreclosure relief, improving the Hope for Homeowners Plan, and expanding TARP to support commercial real estate loans and commercial mortgage-backed securities, this legislation will help create housing stability.”
“By directing the Treasury Department to increase the availability of affordable mortgages rates for qualified home buyers and to offer reduced rate loans designed to stimulate demand for home purchases and clear inventory of properties, Chairman Frank has responded to the most critical issues facing potential homeowners," McMillan said.
Foreclosure relief, using the second half of the $700 billion previously authorized by Congress, would be conditioned on stipulation that $50 billion be used for foreclosure mitigation and calls for a plan to be put into action by March 15. That would allow the Treasury to begin committing the remaining TARP funds for the plan no later than April 1.
The plan would require that foreclosure assistance must apply only to owner-occupied residences. Further, the bill would provide liability protection for loan servicers who engage in loan modifications. Such servicers would have to report regularly to the Treasury.
In addition, the Treasury would be authorized to provide support for commercial real estate loans and commercial mortgage-backed securities, an NAR priority.
NAR has been urging the incoming Obama administration, as well as Congress, to address critical housing needs. “This legislation is a great beginning, but more needs to be done. We must continue to bring potential homebuyers into the market by ensuring low mortgage interest rates, making the higher 2008 conforming loan limits permanent, and applying the $7,500 tax credit to all homebuyers and making it non-repayable,” McMillan said.
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