real estate

The question floating around the market amoung buyers is "Is it time to buy?"
Wow, what a loaded queston. Many industry experts agree it's a great time to buy because rates are low and prices are low.

Recent information from the Survey of Consumer Finances by the US Federal Reserve indicates that most of all the wealth in America is concentrated among homeowners.

The average homeowners net worth is $171,700 and the average renters net worth is a measly $4,800.

Haven't had an opportunity to write another piece but would like bloggers to note : Fed announces quarter-point rate cut
Posted (Roy McKenzie) in breaking news, news, mortgage on December-11-2007

There still remains greater than $10 trillion of untapped home equity stock. As fewer homes are sold, fewer loans are taken out to finance purchases and surviving mortgage firms are refocusing their market to getting homeowners to refinance. Lenders promote refinancing as a flexible option to reduce bills by lowering interest rates and stretching out payments. The problem with such a mortgage pitch is that it plays down or doesn’t disclose the fact that they are temporary. Critics say such an offer appeals to the same inclination that led many borrowers astray, living beyond their means.

Facing Foreclosure: general proceedings.

California is averaging 1 foreclosure out of 88 homes. Job loss, divorce and health problems are the main reasons people stop making mortgage payments. Many homeowners are also finding their fix rate near expiration or an adjustable rate payment greater then they can afford. Due to the state of the current housing market, many people are facing foreclosure. It’s all over the news, all those statistics and explanations about what happened doesn’t tell us what to do next. This series of blogs is intended to reach those who are looking for answers and common ground. Please feel free to post your own experience, questions and answers.

Anyone interested in the J-14 condos please visit

http://www.huffcon.com/survey.aspx

to fill out a survey.

My own selections were ammenities that were structural and had to be built-in were prioritized over items like appliances which could easily be added in later.

Friday for NAMI Stanislaus information table, I went to the Catholic charities sponsored Seniors Safe Banking event at First Baptist Church, for seniors, and I'm now over 50, to prevent senior financial abuse, but now that Modesto is in the county with top foreclosure stats, and the Daniloo case, and Ashlock scam in the news, younger first time buyers, who may not have understood the drop in market, or loan terms, might want to read article in todays Work and Money section, for free counseling if you're in debt, mortgage problems.