The Lack of Foreclosure Help – Sell My House in Georgia

July 23, 2008

Its been debated. Its been argued. Now, after more than a year of debating, Congress seems set on passing a bill that will help to stop the increasing numbers of home foreclosures in the real estate market. This bill would hopefully stabilize a very shaky real estate and housing market, and benefiting the economy as a whole.

The impact of the rising foreclosures on the overall economy has been widespread and wholly negative. Cities like McDonough Georgia, Stockbridge Georgia, Atlanta, and Augusta Georgia, are far from being affected. As more and more homeowners realize they cannot afford the ticking time bombs that define their mortgages, the number of defaulted mortgages increases. The government has decided to finally step in and provide assistance that will prevent more foreclosures in the future, as well as assisting those individuals in need of help right now.

However, housing expert analysts state that even if the latest bill passes in Congress, the most optimistic forecasts show that only 400,000 of the ailing 3 million homeowners will be saved. The rest will still be stuck in the poor economic state they have found themselves in. In other words, the bill will alleviate some of the troubles, but will certainly not be enough to stem the tide of foreclosures overall.

The latest news coming from Fannie Mae and Freddie Mac have complicated matters for the bill and for homeowners alike. The Bush administration has added on assistance for these government backed sponsors to the housing bill, which has caused some negative reactions within the government, particularly among Republicans.

The increase in foreclosures has caused an overall decline in home prices. Since the majority of a homeowners overall financial portfolio is in their home equity, a downturn in home prices has dictated a loss in overall economies for families across the country. The addition of vacant homes and slower housing market has also left many construction companies and development planning business in the lurch as fewer and fewer new home sales are being reported.

One proponent of the new housing bill suggests that 4 billion should be spent in communities with a high number of vacant homes to buy and refurnish these properties. The idea behind the funding would allow these properties to be rented and keep them from becoming the new homes of vagrants, drug dealers and homeless people. The presence of these empty homes can bring down the overall value of a neighborhood, affecting even those homeowners that have not defaulted on their mortgages.

Opponents to the bill argue that putting tax dollars to buy foreclosed homes helps only the ailing lenders, but not the overall homeowners who have lost their home and equity. At the end of the day, the 4 billion would go towards these businesses rather than the citizens and homeowners who need it most. A better use of the money, opponents state, is to revise mortgage costs and help them to refinance their mortgages to keep their homes and stay afloat in the troubled market. Overall, efforts are being considered to help the failing housing market and those homeowners struggling to make their monthly payments.

If you are currently thinking, how can I sell my house in McDonough Georgia, sell my house in Stockbridge Georgia, sell my house in Atlanta, or sell my house in Augusta Georgia, then consider contacting your local home buyer. These professionals exist in every major metro area and are real estate professionals. They are real estate investors who solve complicated real estate selling situations and offer hope to those Georgia home owners who are about to loose their house.


Harvard To Study The Real Estate Market – When Will It Be Easy To Sell My House

July 7, 2008

The fact that the real estate industry is at a low point right now is not a secret. However, even Harvard has taken on the real estate market to analyze what is currently influencing and affecting the industry.

Home prices and sales in the real estate market have plummeted. In addition, foreclosure statistics are increasing dramatically and rates to secure a new mortgage are rising. With the housing market looking so bleak, Harvard studies decided to see what factors impact future housing decisions. Most importantly, these Harvard studies want to see when the real estate market will improve as the industry has a strong impact on the overall economy.

The current real estate market has many home owners wondering, how can I sell my house, where are all the home buyers. When the real estate market takes a turn for the worst hundreds of thousands of home owners are stuck with a home they either can not afford or do not need. For this reason Harvard has decided to study the real estate market and decipher, what will bring the real estate market back to life.

According to the latest study from the Joint Center for Housing Studies of Harvard University, the future is looking bright. The country is set to improve in the real estate sector in the next decade. Specifically, the demand for housing will help to offset the current problems in the industry.

The best news for the housing market is that the United States is growing. With an increase in population, the need for places to live will grow exponentially, helping to drive the need for more houses. In addition, there are a variety of social trends that will help fuel future housing increases. People are getting married later in life and getting divorced more and more frequently, making the number of single person households increase. In addition, there is a higher life expectancy for baby boomers and echo boomers.

Finally, immigration will play a large role in the increase in housing demand with an annual projection of 1.2 million each year. In other words, from 2010 to 2020, the number of households needing a home will increase on average by more than 1.4 million each year.

This increase in housing demand will play a critical role in improving the current real estate market. Once the effects of subprime mortgage rates and other housing impacts become steady again, the real estate market will see an increase in the industry due to these social factors and immigration.

However, before the good times in the real estate sector can begin, the number of unsold homes must decrease. The number of vacant homes currently available for sale rose 46 percent to a total of 2.12 million homes from 2005 to 2007. These vacant homes have terrorized the existing real estate market, lowering prices and halting new construction. As of earlier this year, there was an 11 month supply of unsold new homes.

If you need to sell your vacant home I suggest contacting your local home buyer in your area. Local home buyers are professional real estate investors who purchase houses quickly for cash. This service helps you sell your house quick so you can move on with your life. Besides, a vacant house could be a great home for another loving family.

To compare, a six month supply is considered a buyers market and the 11 month statistic shows the deep increase in unsold homes currently on the market. With a reduction in supply, prices will again rise, interest rates will go down, employment will increase from construction and other related industries and consumer confidence will once again climb.

The factors that impact the real estate market are set to change our current dip. All we need now is time to bring about the social changes and immigration in order to see the housing market back on its feet again. When this happens home owners will have a better change to sell their house fast for the price they need. Until then, if you are thinking how can I sell my house myself for a fair price, contact your local home buyer.