HATE TO ADMIT I WAS RIGHT -- but..

 Since the housing crisis started the federal government has come up with a few major programs to try and help distressed homeowners stay in their homes. As I looked at each one of them my first opinion was that this would not work unless the principal balance of the loan was reduced and no lender would want that to happen. Without that key ingredient, people would not qualify in today's lending environment for the same loan balance they were underwater on and would not be motivated to do so, even though if they could. The House Financial Services Committee just took a look at these and the results were not good news. Take a look at Ken Harney's excellent and detailed analysis.   Click here

 

SEPTEMBER NORTH COUNTY REAL ESTATE STATISTICS

- Sales of all North County real estate types decreased 8 % in September over August  but are up 22% over September of last year! Sales for the first 9 months of this year are also now up 19% versus the 1st 9 months of 2010. Properties in escrow are down  7 % from last month but up 22% over September  of last year. Active listings on the market are down 13% when compared to the same time last year.   Northern San Luis Obispo County real estate sales continue to improve this year over last despite the rest of the USA having a rougher time.

Everybody Up Against the Wall!

 -- I love Lou Barnes's recent column where he takes no prisoners . His column is also on the whole economy and not just real estate but I found it so thought provoking I decided to post it here. We all have the tendency to to side with whoever follows the rest of our political beliefs when they promote their brand of economic policy. In this day, we may have to stop just reacting and start listening and thinking.  Check It Out

AUGUST NORTH COUNTY REAL ESTATE STATISTICS

- Sales of all North County real estate types decreased 11 % in August over July but are up 34% over August of last year! Sales for the first 8 months of this year are also now up 19% versus the 1st 8 months of 2010. Properties in escrow are up 8 % from last month and 23% over August of last year. Active listings on the market are down 8 % when compared to the same time last year.

To 10 Tax Tips when Selling Your Residence

People normally have a lot of tax questions when getting ready to sell their residence. Some of these have changed through the years and some times you could make a bad mistake because you are relying on information from the past. The IRS just recently posted an excellent page on their website for homeowners. Go to http://www.irs.gov/newsroom/article/0,,id=243682,00.html

On the Sidelines or In the Game

Real Estate is the largest purchase most people normally make. When you are in troubled times, some people seize opportunities and some people just seize. :-) To see a good article on this, go to http://lowes.inman.com/newsletter/2011/08/12/news/149949

JULY NORTH COUNTY REAL ESTATE STATISTICS

- Sales of all North County real estate types increased 21% in July over June and 27 % over July of last year! Sales for the first  7 months of this year are also now up 16 % versus the 1st 7 months of 2010.  Properties in escrow are down 15% from last month but 15% over July of last year.  Active listings  on the market are down 11% when compared to the same time last year.