Moving to Commercial Properties
The REIClub offers valuable information to ease your transition from single to multi-family investment. With tips about thinking big, taking your time, and finding good financing, this article is a great way to kick off multi-family investing- first by abandoning old single family thought processes.
Loan Modification Programs
While Market Watch maintains that the sub-prime problem is over, they admit that a new category of mortgage holders need assistance- the recently unemployed. Whether because of the stigma surrounding mortgage troubles or the daunting process of loan modification, this article details the goals of the government’s new Home Affordable Modification Program.
Houston Housing Sales Soar
The Chronicle’s Nancy Sarnoff admits that the price of single family homes are seeing definite increases. However, she rejects the notion of year by year comparisons, stating “housing activity came to a near halt this time last year, when the area was still reeling from Hurricane Ike.” However, the numbers don’t lie, as Houston faces the 5th month of rising single family median home prices.
Mixed Signals
Realty Times lists the end of the recession, improving credit, and an expected rise in GDP as factors that will lead to the increase of home prices and sales. Despite high unemployment’s impact on the recovery of the housing market, things are still looking good for investors benefiting from “bargain basement interest rates.”
Tax Credit
Inman News discusses the Final Push for the Tax Credit, an effort to prolong the life of the first time home buyer tax credit. While opponents to the measure reference cases of fraud being investigated by the IRS and argue that the majority of people benefiting from the program would have purchased a home anyway, others work not only to extend the program but raise the income limits as well.
Housing Programs
The Real Estate Economy Watch reports on new subsidies for Housing Finance Agencies, in an effort to lower interest rates and make housing more affordable. These actions, stemming from the Housing and Economic Recovery Act of 2008, will help lenders finance program costs, with the ultimate goal of overall market stabilization.
Credit
The Real Estate Dispatch provides insight on the direct impact of foreclosures, bankruptcies, and short sales on credit. Following waiting periods, (the length of which is determined by the presence of “extenuating circumstances”) borrowers must face stricter requirements for attaining another mortgage. This article contains information on how to reestablish credit and better determine chances of qualifying for loans post-foreclosure.
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