This is a great little post from Rob Minton’s blog. I’m posting it here because it is April 1st but this is no joke.

“I would give anything to be healthy for just one day…” | Renegade Millionaire Blog

I lost my mother to cancer many years ago, I can still remember sitting on the front step crying and telling myself that i would not smoke agian.

Well after several years I forgot ( Not Really ) my promise to my self. I guess the question is why?

Read this article for your self and for those you love and love you.

“I would give anything to be healthy for just one day…” | Renegade Millionaire Blog

This Month in Real Estate
March 2010

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Commentary

As the market continues to show shoots of recovery, experts believe that the roots will continue to grow. In his annual letter to the shareholders of Berkshire Hathaway, Warren Buffett said, “Within a year or so, residential housing problems should largely be behind us.”

After a steep run-up in prices during the first half of the decade, home values have readjusted back to normalized levels. Fixed mortgage rates are sitting near record lows and the number of homes available for sale is providing home buyers with more options. Also encouraging are indications that the high end of the housing market could begin moving again as luxury financing becomes more readily available.

Despite high unemployment and looming foreclosures, experts maintain their expectations that the economy will grow in 2010, while the government carries on its search for solutions to help both troubled homeowners and the unemployed.

The Housing Market

Existing Home Sales

Existing home sales slowed in January. According to Lawrence Yun, NAR chief economist, this is mainly due to the lack of urgency with the extension and expansion of the first-time buyer tax credit in November. January sales of 5.05 million remain 12 percent above the 4.53 million-unit level last year.

Median Home Price

Existing-home price was $164,700 in January, 3.4 percent below December and unchanged from January 2009. Distressed homes, which accounted for 38 percent of sales last month, continue to skew prices downward as they typically are discounted in comparison with traditional homes.

Inventory

The supply of homes continued to shrink, falling 0.5 percent to 3.27 million, representing a 7.8-month supply at the current sales pace. Compared to a year ago, there are now 10 percent fewer homes on the market. This is the lowest level of competing homes on the market since March 2006.

Mortgage Rates

Mortgage rates edged above the 5 percent threshold during the week of February 25, but remained near historically low levels. As the Federal Reserve mortgage-backed securities purchase program is scheduled to run out at the end of March, the Fed has held the door open to extending it if the economy weakens.

Affordability

Affordability remains at record levels, supported by the lowest mortgage rates in decades, low home prices, as well as the first-time buyer tax credit. So far this year, the home price-to-income ratio has fallen well below the historical average of 25 percent. The ratio now stands at 14.1 percent.

Sources: National Association of Realtors, Freddie Mac

Government Action

Jumbo Mortgages Begin to Thaw

The cost of jumbo loans, often used to purchase luxury homes, shot up during the financial crisis because lenders steered clear of anything that could be considered somewhat risky. Plus jumbo loans are too large for the government to support through the Federal Housing Administration, Fannie Mae, or Freddie Mac.

The good news:  The jumbo loan markets are beginning to unfreeze and return to normal.

The difference between interest rates on conventional loans and jumbo loans has decreased from higher levels seen last year.

In some cases, the down payment requirements are easing as well, but they often still depend on the level of borrowing – the more the mortgage, the higher the down payment percentage. In New York, mortgage professionals report the following common down payments:

Borrowers will still need a good credit score, typically at least 700, evidence of high income, and a sizable bank account.

Sources:Los Angeles Times, Inman News

Topics For Buyers & Sellers

2009 Tax Tips

Tax time is coming up.  Don’t forget about the following benefits in 2009 for homeowners.  What’s deductable in itemized deductions for homeowners?

1. Mortgage Interest

2. Points - paid at closing if you purchased or possibly if you refinanced this year

3. Mortgage Insurance Premiums

4. Property Tax

5. Energy Efficiency Credits – see IRS Form 5695 for qualifying projects

6. Home Buyer Tax Credit – see IRS Form 5405 to claim your credit if you qualify

Newsletter Contents

1. Commentary

2. The Housing Market

3. Government Action

4. Topics for Buyers and Sellers

For a more detailed report with additional graphs and government action, please see the This Month in Real Estate PowerPoint Report.

* $729,750 is the upper limit in the most expensive areas. Limits vary depending on median home prices in local areas. **

Based on the week of February 25, 2010.  ***According to Bank of America’s Jeffrey Appel in Inman News.

What Does It Really Mean To Get Back To The Basics?

By Michael on Jul 8, 2009 in Videos

Episode #48: Keller Williams agent Eric Thomas shares some of the tested basics to thrive in this market.

http://thatinterviewguy.com/?p=435

My wife Diane and I were on a major road trip and one of the cities of call was Cape Cod.

While we were there we managed to connect with a number of top agents that were practicing what they called “Getting Back To The Basics”.

Eric Thomas of Keller Williams was one of those agents and he shared a number of things that he is doing in this tough market in this video interview.

Like me I know you’ll find this video of great interest … and as always … be sure to leave your comments below.

All Good Wishes,

michael krisa

That Interview Guy©

What Does It Really Mean To Get Back To The Basics? | That Interview Guy

Daily Forecast Update

• NAR’s monthly official forecast as of February 2nd
• GDP 2010 Q1: +2.1% ↑
• GDP 2010 Q2: +2.0%
• GDP 2010 Q3: +2.4%↓
• Unemployment rate by the mid-2010: 10.2%
• Average 30-year fixed mortgage rate by mid-2010 2009: 5.4%

Economists’ Outlook: Daily Forecast Update, February 23, 2010

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View Original Article

Home prices notched a modest increase in December, according to a widely watched index of 20 metropolitan areas.

Modest Rise in U.S. Home Prices in December – NYTimes.com

Many market research firms are saying that the market is rebounding, but many are staying cautious, waiting for consistent growth patterns.. 

Tags: HomePrices, RealEstate, index,

• 38 days faster
• for 2.25% higher
• with 1 less price reduction

Find out more watch This Month in Real Estate February

This Month in Real Estate (US) : February 2010