Real Estate News Daily

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In the financial crisis of today, to use a popular maxim of Donald Rumsfeld’s invention, “there are known unknowns and unknown unknowns.” Some major unknowns have surfaced to become economic hurricanes reeking havoc on financial markets worldwide, such as the failure of Freddie Mac and Fannie Mae. But what unknown unknowns are still lurking under the surface, waiting to be discovered, buried in the media headlines, that could have an equally devastating effect on the economy and real estate markets across the country? One such potential dangerous unknown unknown that hasn’t received very much press attention recently is the current lack of financial stability in the municipal bond market.

Municipal bonds are sold by cities and municipalities across the nation to fund large real estate and infrastructure construction projects. They offer investors a tax free stream of income and offered by brokers around the nation as a low risk way to receive income without increasing the investor’s tax burden. Well, it turns out that the municipal bond markets now are starting to sound like a familiar story. Municipalities across the nation have taken advantage of low interest rates over the past two years to fund construction projects. However, about a one third of these funds were borrowed using a variable rate of interest. Now the municipalities are having trouble paying back their investors.

The innovations just keep coming on people who are betting on technology which is the Internet in helping ease the crisis in the housing market. The site is said to be one of the best place to buy, sell or just look around for properties that are for sale and so much more information. Want to rent, they also have options when you begin your search to select either for sale, for rent and comparison statistics whether to buy or rent. The best thing about the site is that it does not only give you addresses with names on them, it gives you a map with all the addresses superimposed on them so you get the best view say of how convenient it would be to get to the grocery or pharmacist. The maps are a true innovation for it gives you a virtual view of the property and the general area. Check out Hotpads.com for more information on the site.

Walt Disney Co. has signed up an exclusive marketing agreement with KB Home and they will be featuring Disney branded home furnishing products in progress all over the nation. Eight model homes with Disney fashions will be featured in Central Florida, the home of Walt Disney World. Although Walt Disney is more popular for its toys and movies, floorings, window coverings, lightings and many more can also be found from Walt Disney. The many selections will be integrated into select model homes and will be subjected for review in KB home studio which is 15,000-square-foot in size located in South Orlando.

The “For Sale” signs that can be seen in front yards of many houses all over the country are blooming like spring flowers. Many concerned sellers are confronted with the worst scenario for the past ten years. Because of the crashing economy, home prices are declining and mortgage foreclosures are intensifying. The promise of a brighter tomorrow may seem dim because the housing industry is headed for a storm right now. From 2001 to 2005 sales of new and existing homes are in a boom and the industry is souring up for five consecutive years. Right now, the situation of the housing industry is definitely incomparable to those years.

The Internet has gained its popularity in any kind of businesses. Real estate business is not an exemption to this. In fact, a house or a piece of land can be bought through the Internet only for the price of a used car. An example is a four-bedroom, two-bathroom home in Cleveland which was sold for $6,050 on eBay. Actually not every property available at auctions is cheap but generally speaking, the market is fast becoming popular as an effective tool to move properties that have long been sitting for months and this is something that can not be ignored by agents.

According to a Canadian economist, housing market in Canada is no longer in boom. Another one commented that there have been convincing evidences that popularity of real estate has come to an end. However, there are reports showing that although the market has no longer its record-breaking pace as compared to the previous years, it is still considered healthy. In the past 10 years, housing market in Canada stayed on top but according to Canada Mortgage and Housing Corp., MLS sales is expected to drop by 8.5 percent this year and by 2009, there will be another 2.3 percent decrease.

If you’re seeking to sell your home and you want it done fast, then don’t just go out hunting for buyers but for the people who may know buyers themselves. You may have to shell out some money for referrals but they sure beat the fee’s brokers charge for their services. With more and more trying to cut out agents and going out to do the selling on their own for apparent reasons, this has proven to be a good way of getting to buyers. It also helps to go out once in a while to look for them rather than have them come to you for even with the current rock bottom prices, not many are buying due to the slowing economy.

The program was initiated by the State to help beleaguered homeowners with the support of the Hope Now Alliance that is comprised of mortgage lenders and servicers who are working to amend existing mortgages to prevent foreclosure. As the figures show, there is still a 70% shortcoming in the effectiveness of the program for even with their support, 70% of all homeowners are still 2 months behind their mortgage payments. Homeowners are criticizing the program as being too slow and this time lag results in many still losing homes. Even with the program in place, a 16% of homeowners are still facing foreclosures so homeowners are hoping for a revision of processing procedures that would speed up the process as they hope fight for their homes.

One of America’s leading economists who have predicted the events of today way before they were entering their critical levels, Robert Shiller releases his view and forecast of the current housing market crisis. The figures the Yale economist sees in Standard & Poors-Shiller home price index shows that the levels are so low they might even surpass levels of the great depression of the 1930’s. Many fail to accept his views as they try to maintain a positive outlook for the housing industry, but the figures don’t lie. He also says that the only way the government can avert a catastrophe is if the Federal bank releases billions in bail-out packages so the millions of Americans facing foreclosure can get to keep their homes. His analysis places the industry at a position where the figures have no where else to go but down further quelling hopes that the industry would be bouncing back soon.

Today’s Industry data shows that the number of homes that will be going up for foreclosure has doubled in the first quarter that the whole of last year meaning the problem is getting worse. Efforts by the government to stop the said foreclosures are headed to the house for deliberation as they try to find ways of stopping the ugly climb. Many homeowners are powerless due to the utter weakness of the economy with higher gas prices, food and other necessities have followed suit. The power of homeowners to prevent their houses from going to the highest bidder has diminished so much they simply stand back and weep at the prospect of losing the very one thing they could have called their own, their homes.