Affordable Housing for Moderate Income Families

And yes, I'm speaking to you.



Even in my Republican world, it hasn't escaped me that SO many of my friends, clients, soon to be friends, are in this category. Making a decent living, and STILL unable to obtain financing for a home.



They can make the monthly payment on a mortgage, but maybe can't swing closing costs, or credit scores are lower than they'd like, paying off old credit card debt, whatever. Very hard times for people like you.



This program crossed my desk - it's a pilot, and one of the first ones I've seen to meet the needs of US. Middle class. Work for the phone company. Still can't swing it.



Innovative - they are encouraging local non-profits to BUY THE HOUSE YOU WANT AND SELL IT TO YOU AT A DISCOUNT ON A RENT TO OWN BASIS. They pay your closing costs. They hold your mortgage for a few years, offer you credit counseling and help with your current debt, and then turn the ownership of the home over to you at the end of a couple of years.



Huge benefits to the non-profit. Tax breaks, cash flow, fulfilling their own local mission.



Huge benefit to you. The home you want. The terms you need. The credit counseling and possible debt consolidation that it will take to make you mortgageable.



Finally, someone is coming up with something that makes sense.

When to sell, when to buy.

Interesting conversations I get myself into. And as I like to yap, I find myself shooting my mouth off about things that I know nothing about (Presidential Politics, anyone?) Lots of people out there like that.

One thing I do know a thing or two about is selling or buying a house. Usually they go together - most folks need a place to live. What I am not so good at is predicting the BEST time to buy or sell a house. Lots of people out there like that, too.

So, as in most things - common sense prevails. I found some decent articles you may like - It's a Buyers Market , Six Signs it's Time to Buy and Ten Steps to Sell More Quickly.

Hope you like them....

Can you make money in Real Estate in 2008?

So we were at a wonderful New Year's Eve bash the other night, and as I listened to the conversation swirling around me (I had had too much Shiraz, and my mouth wasn't working for once), I realized that most of us are obtaining our Real Estate information from each other. My neighbors are smart people (not to mention very good looking), but the problem is that most of us have only a piece of the picture, and pieces of the picture aren't enough to help make good decisions.


There IS some good news coming out of the economic disaster that is currently looming thanks to the Real Estate market.

First, some sad assumptions:

The Real Estate market (meaning home prices and sales levels) will not "recover" in 2008. With doom and gloom being washed over us daily, coupled with the foreclosure wave that is still approaching the Northeast, we are in for a few years of difficult times in Real Estate.

Your home is NOT worth what is was 1 year, 2 years, 3 years ago.


However, think about this:

Your home, and Real Estate in general is, for most people, your most lucrative investment. (See this article)

Consider retaining, or purchasing rental property. The need for rental property is skyrocketing (see RealtyTimes), and the prices to purchase are low.

This is a business cycle, and like all business cycles, will make many, many people much, much money, as those with a little bit of money now will be able to invest low, and ride it out.

More later....

Rental