As promised...you guys are the first to know!!
This house is not on the MLS yet. If you are interested call me ASAP before it is on for everyone to see.
916 Riverside Dr. - Neosho
3 bedroom / 1.5 Bathrooms
1124 sq. ft.
New Everything! (Carpet, Vinyl, Attic Fan, Paint, Heating System, Hot Water Heater, Lighting, Etc...)
Remodel almost finished. Buy it before they are done and get a great deal. All that's left is minor cosmetics. Less than $1000 worth of remodel left!
Finished...this house is valued at $69,000+
It's ON SALE right now for $57,900 (Did I mention it comes complete with all appliances included!)
Don't need a house right now. BUY IT...FINISH IT...SELL IT for a $10,000 profit!!
CALL ME!
Shawn Dodson
Charles Burt Realtors
417.439.7816
shawndodson@charlesburt.com
www.ShawnDodson.com
Friday, May 22, 2009
Thursday, May 14, 2009
Grant Funded Through ‘The Recovery Act’ to Increase Jobs and Provide Boost to Local Housing Economies
As part of an innovative partnership aimed at job creation and easing the pressures on the housing market, the Department of the Treasury and Department of Housing and Urban Development (HUD) jointly announced programs that will provide billions of dollars in recovery funds to spur the development of thousands of affordable housing units in states around the country. Funded through the American Recovery and Reinvestment Act (The Recovery Act), the programs together will provide approximately $5 billion for states to finance the acquisition and construction of affordable housing for working families.
Through the Recovery Act, the Treasury Department will now for the first time provide state housing agencies resources from which they will in turn provide cash assistance to developers of qualified affordable housing developments to fill the Low Income Housing Tax Credit (LITC) gap. The program will increase the supply of newly constructed or recently renovated affordable housing units for families - affordable housing that otherwise may not have come to market due to current economic conditions.
“Affordable housing is key to every American’s economic security,” said Treasury Secretary Timothy Geithner. “As the recession has worsened, unemployment has risen, and working families have suffered a loss of income, which has caused a downward economic spiral for too many American families and made it more difficult for those families to find affordable housing. With this new program, we are not only creating new jobs through new construction, we are ensuring the availability of affordable housing, which is good for the nation’s economic stability and the economic security of millions of American families.”
The economic and financial crises have presented significant challenges for the construction industry, particularly residential construction. Housing starts have fallen 80% from the peak level seen at the beginning of 2006. Houses currently under construction are at a 12-year low, down 60% from the peak in the first quarter of 2006. This collapse has led to severe job losses in the residential building and specialty trades sector related to housing, with employment down by nearly one-third - a loss of close to 1 million jobs. Such losses not only indicate the significant problems in the residential construction sector, but also suggest that the need for affordable housing has risen markedly during the recession.
In addition to Treasury’s new program, HUD will be awarding $2.25 billion in grants to state housing credit agencies through the Tax Credit Assistance Program (TCAP) to complete construction of qualified housing developments. The TCAP program will ultimately provide affordable housing to an estimated 35,000 low-income households.
“The intended purpose of the American Recovery and Reinvestment Act is to jumpstart the nation’s ailing economy, with a primary focus on creating and saving jobs in the near term,” said HUD Secretary Shaun Donovan. “These programs are an important step in achieving the goal of putting American people back to work while at the same time providing quality, affordable housing options for low-income families. We are proud of the collaboration between Treasury and HUD that enabled us to announce these programs together.”
One of the by-products of the economic crisis has been the freezing of the investment in Low Income Housing Tax Credit, the federal government’s program for the development of affordable rental housing. Tax credits provide an incentive for investors to participate in the program, which in turn provides equity to developers to build multi-family rental housing for moderate and low income families across the nation. Developers depend on the equity generated as a result of the incentive provided by the tax credits to fill project financing gaps. In the current financial crisis, credit is tight, and as a number of traditional equity investors have left the market, the value of tax credits have plummeted. The result is that as many as 1,000 projects containing nearly 150,000 units across the country are on hold.
The Treasury and HUD programs will help jumpstart the market for construction of affordable housing by providing these combined $5 billion in funds for states to finance the acquisition and construction of buildings for affordable housing, which will create thousands of jobs in the construction and specialty trades sectors, from laborers to architects and engineers around the country. The funds will also provide housing for a broad cross section of individuals and families affected by the downturn of the housing market.
For more information, visit www.treasury.gov or www.hud.gov.
Through the Recovery Act, the Treasury Department will now for the first time provide state housing agencies resources from which they will in turn provide cash assistance to developers of qualified affordable housing developments to fill the Low Income Housing Tax Credit (LITC) gap. The program will increase the supply of newly constructed or recently renovated affordable housing units for families - affordable housing that otherwise may not have come to market due to current economic conditions.
“Affordable housing is key to every American’s economic security,” said Treasury Secretary Timothy Geithner. “As the recession has worsened, unemployment has risen, and working families have suffered a loss of income, which has caused a downward economic spiral for too many American families and made it more difficult for those families to find affordable housing. With this new program, we are not only creating new jobs through new construction, we are ensuring the availability of affordable housing, which is good for the nation’s economic stability and the economic security of millions of American families.”
The economic and financial crises have presented significant challenges for the construction industry, particularly residential construction. Housing starts have fallen 80% from the peak level seen at the beginning of 2006. Houses currently under construction are at a 12-year low, down 60% from the peak in the first quarter of 2006. This collapse has led to severe job losses in the residential building and specialty trades sector related to housing, with employment down by nearly one-third - a loss of close to 1 million jobs. Such losses not only indicate the significant problems in the residential construction sector, but also suggest that the need for affordable housing has risen markedly during the recession.
In addition to Treasury’s new program, HUD will be awarding $2.25 billion in grants to state housing credit agencies through the Tax Credit Assistance Program (TCAP) to complete construction of qualified housing developments. The TCAP program will ultimately provide affordable housing to an estimated 35,000 low-income households.
“The intended purpose of the American Recovery and Reinvestment Act is to jumpstart the nation’s ailing economy, with a primary focus on creating and saving jobs in the near term,” said HUD Secretary Shaun Donovan. “These programs are an important step in achieving the goal of putting American people back to work while at the same time providing quality, affordable housing options for low-income families. We are proud of the collaboration between Treasury and HUD that enabled us to announce these programs together.”
One of the by-products of the economic crisis has been the freezing of the investment in Low Income Housing Tax Credit, the federal government’s program for the development of affordable rental housing. Tax credits provide an incentive for investors to participate in the program, which in turn provides equity to developers to build multi-family rental housing for moderate and low income families across the nation. Developers depend on the equity generated as a result of the incentive provided by the tax credits to fill project financing gaps. In the current financial crisis, credit is tight, and as a number of traditional equity investors have left the market, the value of tax credits have plummeted. The result is that as many as 1,000 projects containing nearly 150,000 units across the country are on hold.
The Treasury and HUD programs will help jumpstart the market for construction of affordable housing by providing these combined $5 billion in funds for states to finance the acquisition and construction of buildings for affordable housing, which will create thousands of jobs in the construction and specialty trades sectors, from laborers to architects and engineers around the country. The funds will also provide housing for a broad cross section of individuals and families affected by the downturn of the housing market.
For more information, visit www.treasury.gov or www.hud.gov.
Wednesday, May 13, 2009
3021 Perkins - New Listing
Great New Listing!!
Check it out: http://www.postlets.com/res/2183191
You can also find it at my website: www.ShawnDodson.com
Check it out: http://www.postlets.com/res/2183191
You can also find it at my website: www.ShawnDodson.com
Monday, May 11, 2009
NAR: Pending Home Sales, Affordability Rise
Pending home sales rose with many first-time buyers taking advantage of historically good housing affordability conditions, according to the latest report by the NATIONAL ASSOCIATION OF REALTORS ®.
The Pending Home Sales Index, a forward-looking indicator based on contracts signed in March, increased 3.2 percent to 84.6 from a level of 82 in February. It is 1.1 percent higher than March 2008 when it was 83.7.
Lawrence Yun, NAR chief economist, says it should take a few months for the market to gain momentum.
“This increase could be the leading edge of first-time buyers responding to very favorable affordability conditions and an $8,000 tax credit, which increases buying power even more in areas where special programs allow buyers to use it as a down payment,” he says. “We need several months of sustained growth to demonstrate a recovery in housing, which is necessary for the overall economy to turn around.”
By Region
Here is a breakdown of pending home sales by region:
South: rose 8.5 percent to 93.2 in March and is 7.7 percent above a year ago.
West: increased 3.9 percent to 93.1 and is 1.7 percent higher than March 2008.
Northeast: fell 5.7 percent to 59.5 in March and is 24.1 percent below a year ago.
Midwest: slipped 1 percent to 82.3 but is 8.2 percent higher than March 2008.
NAR: Affordability Remains High
Meanwhile, NAR’s Housing Affordability Index remained near record highs.
The affordability index was 166.7 in March – down from an upwardly revised record of 174.4 in February due to higher home prices in March. The index remains 30.8 percentage points higher than a year ago.
The HAI is a broad measure of housing affordability using consistent values and assumptions over time, which examines the relationship between home prices, mortgage interest rates and family income; tracking began in 1970.
NAR President Charles McMillan says the increase in buying power is quite remarkable.
“Compared to a year ago, the typical family can pay much less in mortgage costs for the same home, or buy a better home without necessarily increasing their monthly payment,” he says. “For buyers who’ve been on the sidelines and have good jobs, the market has never looked more favorable. Homeownership has always offered immediate benefits and long-term value, but the advantages in today’s market are unique.”
A median-income family, earning $61,100, could afford a home costing $291,600 in March with a 20 percent down payment, assuming 25 percent of gross income is devoted to mortgage principal and interest.
Affordability conditions for first-time buyers with the same income and small down payments are roughly 80 percent of that amount. The affordable price was notably higher than the median existing single-family home price in March, which was $174,900
The Pending Home Sales Index, a forward-looking indicator based on contracts signed in March, increased 3.2 percent to 84.6 from a level of 82 in February. It is 1.1 percent higher than March 2008 when it was 83.7.
Lawrence Yun, NAR chief economist, says it should take a few months for the market to gain momentum.
“This increase could be the leading edge of first-time buyers responding to very favorable affordability conditions and an $8,000 tax credit, which increases buying power even more in areas where special programs allow buyers to use it as a down payment,” he says. “We need several months of sustained growth to demonstrate a recovery in housing, which is necessary for the overall economy to turn around.”
By Region
Here is a breakdown of pending home sales by region:
South: rose 8.5 percent to 93.2 in March and is 7.7 percent above a year ago.
West: increased 3.9 percent to 93.1 and is 1.7 percent higher than March 2008.
Northeast: fell 5.7 percent to 59.5 in March and is 24.1 percent below a year ago.
Midwest: slipped 1 percent to 82.3 but is 8.2 percent higher than March 2008.
NAR: Affordability Remains High
Meanwhile, NAR’s Housing Affordability Index remained near record highs.
The affordability index was 166.7 in March – down from an upwardly revised record of 174.4 in February due to higher home prices in March. The index remains 30.8 percentage points higher than a year ago.
The HAI is a broad measure of housing affordability using consistent values and assumptions over time, which examines the relationship between home prices, mortgage interest rates and family income; tracking began in 1970.
NAR President Charles McMillan says the increase in buying power is quite remarkable.
“Compared to a year ago, the typical family can pay much less in mortgage costs for the same home, or buy a better home without necessarily increasing their monthly payment,” he says. “For buyers who’ve been on the sidelines and have good jobs, the market has never looked more favorable. Homeownership has always offered immediate benefits and long-term value, but the advantages in today’s market are unique.”
A median-income family, earning $61,100, could afford a home costing $291,600 in March with a 20 percent down payment, assuming 25 percent of gross income is devoted to mortgage principal and interest.
Affordability conditions for first-time buyers with the same income and small down payments are roughly 80 percent of that amount. The affordable price was notably higher than the median existing single-family home price in March, which was $174,900
Sunday, May 10, 2009
5 Maintenance Issues Owners Shouldn't Ignore
Consumer Reports magazine advises home owners not to put off important maintenance projects, noting that waiting until the economy rebounds could end up making the repairs more costly while putting a family's health at risk.
The magazine identifies five crucial maintenance issues:
1. Check the gutters: Clogged gutters, broken fasteners and separations where the gutters meet the fascia board will lead to roof leaks if they haven’t already.
2. Inspect the roof: Cracked, curled and mussing shingles mean a roof is nearing the end of its useful life. Cracks around chimneys, skylights, and roof valleys can also suggest the roof might be leaking.
3. Look for bugs: Termites and carpenter ants can bore through a home in a few short years. Probe the sill plate on top of the foundation with a screwdriver to check for rotten wood. Also look for carpenter ants and termites along windowsills and walls.
4. Avoid mold: Mold and mildew can cause musty odors, dank air, and make residents sick. Check under carpets and around windows for visible mold or mildew.
5. Don’t ignore cracks: Foundation cracks wider than 3/16 of an inch can be a problem. These require examination by a structural engineer.
The magazine identifies five crucial maintenance issues:
1. Check the gutters: Clogged gutters, broken fasteners and separations where the gutters meet the fascia board will lead to roof leaks if they haven’t already.
2. Inspect the roof: Cracked, curled and mussing shingles mean a roof is nearing the end of its useful life. Cracks around chimneys, skylights, and roof valleys can also suggest the roof might be leaking.
3. Look for bugs: Termites and carpenter ants can bore through a home in a few short years. Probe the sill plate on top of the foundation with a screwdriver to check for rotten wood. Also look for carpenter ants and termites along windowsills and walls.
4. Avoid mold: Mold and mildew can cause musty odors, dank air, and make residents sick. Check under carpets and around windows for visible mold or mildew.
5. Don’t ignore cracks: Foundation cracks wider than 3/16 of an inch can be a problem. These require examination by a structural engineer.
FORECLOSURE - WEBB CITY - LOG HOME
AMAZING BARGAIN!! I"LL HELP YOU MOVE IN!!
I've put this out there before when the price was excellent. That was $10,000 dollars ago!!
Beautiful log home with sauna in the Webb City area has now been reduced.
First-time home buyers...get an $8000 check from the gov't for buying this home. Everyone else...get the best bargain in the area!!
If you are ready to buy you need to email me. I will send you a custom flyer describing this property in detail. You can also request a custom list of other foreclosures in the area as well as being placed on my exclusive foreclosure hot list. The hot list will automatically email you the greatest bargains in the area so you know before anyone else does.
Talk to you soon!!
Shawn Dodson
Charles Burt Realtors
417.439.7816
www.ShawnDodson.com
---------------------------------------------------
Your Home Sold – Guaranteed – Or I Will Buy It!!
FREE Home Selling Tips!!
I've put this out there before when the price was excellent. That was $10,000 dollars ago!!
Beautiful log home with sauna in the Webb City area has now been reduced.
First-time home buyers...get an $8000 check from the gov't for buying this home. Everyone else...get the best bargain in the area!!
If you are ready to buy you need to email me. I will send you a custom flyer describing this property in detail. You can also request a custom list of other foreclosures in the area as well as being placed on my exclusive foreclosure hot list. The hot list will automatically email you the greatest bargains in the area so you know before anyone else does.
Talk to you soon!!
Shawn Dodson
Charles Burt Realtors
417.439.7816
www.ShawnDodson.com
---------------------------------------------------
Your Home Sold – Guaranteed – Or I Will Buy It!!
FREE Home Selling Tips!!
Saturday, May 2, 2009
Hot List - Joplin Foreclosure
http://www.ShawnDodson.com
HOT LIST! If you’re looking for a bargain in the Joplin area and are in this price range, don't wait another second...deals like this don't come around very often. This property is a newer home with over 2000 sq.ft. 2-story with 3 bedrooms and 3 bathrooms and room to enjoy the outdoors with a nice large lot. Finish the remodel and you have an amazing house. Schedule to see it.
You can pick it up for $99,000 or better! Seriously...call me now and get this one before it's gone! Want more information? Email or call me for more information. I will send you a flyer directly to your email for you to review.
Also...email me ASAP and get your custom list of foreclosure properties in the area emailed directly to you with information and pictures for your review. The more details you give me about what you are looking for...the better list I can send!
Serious buyers and investors are contacting me everyday to help them purchase their new homes and investment property. They do this because they know what others don't. They know that they always need a buyer’s agent on their side for every deal they do. They know that I am a foreclosure and distress sell specialist. They know that I offer all of my real estate and negotiation knowledge to them for FREE! Can't beat them odds!
Put the odds in your favor...contact me TODAY!
Best wishes...talk to you soon!!
_____________________________________________________________________
Shawn Dodson
Charles Burt Realtors
417.439.7816
http://www.ShawnDodson.com
Looking to sell your home soon? Find out how I my marketing system will get your house at top dollar and faster than the competition. Also receive the best seller tips to sell in today’s market by requesting a FREE comparative market analysis.
Buying soon? My “buyer’s plan of action” service will get you into your dream home faster than you hoped possible. The service is FREE and your satisfaction is guaranteed. Ask about my buyer’s guarantee today.
Also, get great buyer, seller, and investment tips from my blog at http://shawndodson.blogspot.com/
Follow me on Twitter: http://twitter.com/JoplinRealtor
HOT LIST! If you’re looking for a bargain in the Joplin area and are in this price range, don't wait another second...deals like this don't come around very often. This property is a newer home with over 2000 sq.ft. 2-story with 3 bedrooms and 3 bathrooms and room to enjoy the outdoors with a nice large lot. Finish the remodel and you have an amazing house. Schedule to see it.
You can pick it up for $99,000 or better! Seriously...call me now and get this one before it's gone! Want more information? Email or call me for more information. I will send you a flyer directly to your email for you to review.
Also...email me ASAP and get your custom list of foreclosure properties in the area emailed directly to you with information and pictures for your review. The more details you give me about what you are looking for...the better list I can send!
Serious buyers and investors are contacting me everyday to help them purchase their new homes and investment property. They do this because they know what others don't. They know that they always need a buyer’s agent on their side for every deal they do. They know that I am a foreclosure and distress sell specialist. They know that I offer all of my real estate and negotiation knowledge to them for FREE! Can't beat them odds!
Put the odds in your favor...contact me TODAY!
Best wishes...talk to you soon!!
_____________________________________________________________________
Shawn Dodson
Charles Burt Realtors
417.439.7816
http://www.ShawnDodson.com
Looking to sell your home soon? Find out how I my marketing system will get your house at top dollar and faster than the competition. Also receive the best seller tips to sell in today’s market by requesting a FREE comparative market analysis.
Buying soon? My “buyer’s plan of action” service will get you into your dream home faster than you hoped possible. The service is FREE and your satisfaction is guaranteed. Ask about my buyer’s guarantee today.
Also, get great buyer, seller, and investment tips from my blog at http://shawndodson.blogspot.com/
Follow me on Twitter: http://twitter.com/JoplinRealtor
New Foreclosure - Neosho
http://www.ShawnDodson.com
HOT LIST! If you’re looking for a bargain in the Neosho area and are in this price range, don't wait another second...deals like this don't come around very often. This property is a newer home with over 3000 sq.ft. with 3 bedrooms and 4 bathrooms and room to expand. It sits on close to 5 acres.
You can pick it up for $129,900 or better! Seriously...call me now and get this one before it's gone! Want more information? Email or call me for more information. I will send you a flyer directly to your email for you to review.
Also...email me ASAP and get your custom list of foreclosure properties in the area emailed directly to you with information and pictures for your review. The more details you give me about what you are looking for...the better list I can send!
Serious buyers and investors are contacting me everyday to help them purchase their new homes and investment property. They do this because they know what others don't. They know that they always need a buyer’s agent on their side for every deal they do. They know that I am a foreclosure and distress sell specialist. They know that I offer all of my real estate and negotiation knowledge to them for FREE! Can't beat them odds!
Put the odds in your favor...contact me TODAY!
Best wishes...talk to you soon!!
___________________________________________________
Shawn Dodson
Charles Burt Realtors
417.439.7816
http://www.ShawnDodson.com
Looking to sell your home soon? Find out how I my marketing system will get your house at top dollar and faster than the competition. Also receive the best seller tips to sell in today’s market by requesting a FREE comparative market analysis.
Buying soon? My “buyer’s plan of action” service will get you into your dream home faster than you hoped possible. The service is FREE and your satisfaction is guaranteed. Ask about my buyer’s guarantee today.
Also, get great buyer, seller, and investment tips from my blog at http://shawndodson.blogspot.com/
Follow me on Twitter: http://twitter.com/JoplinRealtor
HOT LIST! If you’re looking for a bargain in the Neosho area and are in this price range, don't wait another second...deals like this don't come around very often. This property is a newer home with over 3000 sq.ft. with 3 bedrooms and 4 bathrooms and room to expand. It sits on close to 5 acres.
You can pick it up for $129,900 or better! Seriously...call me now and get this one before it's gone! Want more information? Email or call me for more information. I will send you a flyer directly to your email for you to review.
Also...email me ASAP and get your custom list of foreclosure properties in the area emailed directly to you with information and pictures for your review. The more details you give me about what you are looking for...the better list I can send!
Serious buyers and investors are contacting me everyday to help them purchase their new homes and investment property. They do this because they know what others don't. They know that they always need a buyer’s agent on their side for every deal they do. They know that I am a foreclosure and distress sell specialist. They know that I offer all of my real estate and negotiation knowledge to them for FREE! Can't beat them odds!
Put the odds in your favor...contact me TODAY!
Best wishes...talk to you soon!!
___________________________________________________
Shawn Dodson
Charles Burt Realtors
417.439.7816
http://www.ShawnDodson.com
Looking to sell your home soon? Find out how I my marketing system will get your house at top dollar and faster than the competition. Also receive the best seller tips to sell in today’s market by requesting a FREE comparative market analysis.
Buying soon? My “buyer’s plan of action” service will get you into your dream home faster than you hoped possible. The service is FREE and your satisfaction is guaranteed. Ask about my buyer’s guarantee today.
Also, get great buyer, seller, and investment tips from my blog at http://shawndodson.blogspot.com/
Follow me on Twitter: http://twitter.com/JoplinRealtor
Friday, May 1, 2009
Fight Inflation: Buy a Home
Some economic analysts say that the possibility that the economy will go into overdrive and inflation will skyrocket is a much more frightening possibility than the current recession.
One inflation hedge nearly all of them point to is real estate. Owning it outright is the best scenario, but if that’s not possible, a low-rate, 30-year fixed mortgage is the next best thing. As inflation drives up salaries, mortgage payments will stay the same, analysts point out.
Contact me today to go buy a home. When inflation occurs...you can benefit and not be a victim.
www.ShawnDodson.com
One inflation hedge nearly all of them point to is real estate. Owning it outright is the best scenario, but if that’s not possible, a low-rate, 30-year fixed mortgage is the next best thing. As inflation drives up salaries, mortgage payments will stay the same, analysts point out.
Contact me today to go buy a home. When inflation occurs...you can benefit and not be a victim.
www.ShawnDodson.com
Bank of America Drops Countrywide Name
Bank of America, which bought Countrywide Home Loans last year, has officially changed the lender’s name to Bank of America Home Loans.
The name change recognizes the merger of Countrywide and Bank of America’s previously existing mortgage and home equity lending operation.
At the height of the housing boom, Countrywide was the country’s largest mortgage lender and had major involvement in subprime lending.
The name change will coincide with the beginning of what has traditionally been the busiest home buying season. The move comes after the two company merged their back-office operations, says Barbara Desoer, president of Bank of America Home Loans.
www.ShawnDodson.com
The name change recognizes the merger of Countrywide and Bank of America’s previously existing mortgage and home equity lending operation.
At the height of the housing boom, Countrywide was the country’s largest mortgage lender and had major involvement in subprime lending.
The name change will coincide with the beginning of what has traditionally been the busiest home buying season. The move comes after the two company merged their back-office operations, says Barbara Desoer, president of Bank of America Home Loans.
www.ShawnDodson.com
Housing Analysts Predict the Bottom Is Near
The bottom of the housing decline is near, predicted analysts and home builders attending the National Association of Home Builders’ semiannual Construction Forecast Conference last week.
Mark Zandi, chief economist of Moody’s Economy.com, facetiously picked a date when home prices would stop falling: Dec. 15, 2009. Other observers weren’t so precise, but they did generally agree that the federal government’s efforts to shore up the market would take effect by the end of 2009 or early in 2010.
Analysts also predicted that consumers will spend less on remodeling. Eric Belsky, executive director at Harvard University’s Joint Center for Housing Studies, predicted that spending on remodeling would fall 12.3 percent by the end of this year compared to last.
Analysts project that the credit crisis will loosen, although people with blemished credit records may continue to have trouble getting mortgage loans.
www.ShawnDodson.com
Mark Zandi, chief economist of Moody’s Economy.com, facetiously picked a date when home prices would stop falling: Dec. 15, 2009. Other observers weren’t so precise, but they did generally agree that the federal government’s efforts to shore up the market would take effect by the end of 2009 or early in 2010.
Analysts also predicted that consumers will spend less on remodeling. Eric Belsky, executive director at Harvard University’s Joint Center for Housing Studies, predicted that spending on remodeling would fall 12.3 percent by the end of this year compared to last.
Analysts project that the credit crisis will loosen, although people with blemished credit records may continue to have trouble getting mortgage loans.
www.ShawnDodson.com
Homeownership at Lowest Level Since 2000
According to the Census Bureau, the rate of U.S. homeownership slipped in the 2009 first quarter to the lowest level since the start of the decade.
The U.S. homeownership rate dropped to 67.5 percent from 68 percent a year earlier, driven largely by a sharp decline among younger buyers as well as among African-American households.
Loose credit pushed up national homeownership levels in recent years, but the trend is now being reversed by the recession and a foreclosure epidemic.
The U.S. homeownership rate dropped to 67.5 percent from 68 percent a year earlier, driven largely by a sharp decline among younger buyers as well as among African-American households.
Loose credit pushed up national homeownership levels in recent years, but the trend is now being reversed by the recession and a foreclosure epidemic.
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