Scott Grannis provides us with an interesting take on the supposed slew of foreclosures hitting our streets soon.

Will it help keep prices stable? Or will it add to the looming real estate slump?

Are you ready?

Home Sales are UP. Prices are Down.

You may have heard it from your friends, read it in the papers, or heard it on the news….existing homes sales are up! And just as recently as today by 10%.

Bloomberg.com has their say and it’s probably similar to all the tid-bits you’re getting.

Another blog that I have been following, the Calafia Beach Pundit, has a recent post that takes into appreciation the idea that it simply comes down to affordability.  I have long said that buyer’s today are looking for value, and once perceived, they jump.  So doesn’t it make sense that along with the tax credit extension, and the credit offered to the step-up crowd all help fuel sales?  Of course it does.  And with the volatility of the stock market still fueling a lack of confidence, we will most likely continue to see falling home prices well in to the first quarter next year which should help keep the sales up….and the inventory down.

If Los Angeleno’s spent as much time up-keeping their homes as we spend on our vanity, potential problems that arise during selling may be more manageable.

Yourself, your appliances, your car, and your carpet all have life cycles right?  But how often do we think about the dwelling in which we live and how it too has a life cycle?

Well as you can imagine, this article from Lew Sichelman was rather amusing, yet very informative.  It made me think of my home a little differently.  But for you, it may make you think differently about how you buy next time.

Do you QUALIFY?

The tax credit for first-time home-buyers has been extended!  Click here for more details.

And a second credit benefits others: 1) Those looking to buy another home who have owned and lived in a home for at least five consecutive years of the last eight years and, 2) Those who sold a home and/or may have lost a home to foreclosure.  Click here for more details.

Yes, you too could qualify for a tax credit.

Today’s LA Times article in the Business section by Kathy Kristoff tells you what you need to know.  It’s worth reading over a cup of coffee, certainly if you are thinking about purchasing a home.

Interest Rates Falling!

Posted in the WSJ is an article indicating that traditional 30-year interest rates fell below 5% according to Freddie Mac.

This in conjunction with the extension of the first-time home buyer tax credit make it a very tempting time to buy.

The California Association of Realtors(CAR) released it’s housing market forecast for 2010.

Following two years of double-digit declines, do we finally get some relief? Or can we expect to see slow to moderate recovery in the near future?

All Gladys can say is there are certainly more people buying thus shrinking the inventory.  It’s getting tough to find anything “good” out there folks.

Knowledge is Power

As if you needed another reason to be careful with the information you give out not only to strangers, but your loan officer/lender.

In an article in today’s Real Estate section of the LA Times, Kenneth Harney explains why Buyer’s will be seeing IRS Form 4506-T two-fold, and why it is important to understand it.

As I find myself completing a purchase of a new condo with my spouse, this article in the LA Times today written by Lew Sichelman could not have come at a better time.

And like the first form of ownership….this article is worth reading in its entirety.