04.25.12 Tuesday Talk Who is Buying our Mortgage?

by qinfovio 1. May 2012 14:46
The latest update at CNN.com concerning our real estate market, "home prices lowest since 2002
and it keeps dropping."
 
Buyers that plan to have a financing on purchasing their home should make a move now and up to the election time.
(and plan to keep it for a while)
 
I will expect our lending/financing to get back as it was at one time. It will be moving to a higher down payment.
Loan will be coming from Banks at market rate. I will expect FHA to readjust their loan limit within the next 3 years
and I will expect tight restriction. 
 
I have a link from an old article from 2009 that show who buy all these loan since the financial crisis that follow
 
The federal reserve buys all the mortgage that has been provided since 2009 to keep our economy moving and is able
to keep interest rate low. We have over 40% of our Country debt that are short terms.
 
The federal reserve has been printing a lot of money to buy all these loans and at the same time
controlling the interest rate.
 
Rates are usually set above inflation and by banks not by the Federal Reserve. Once the lending power is changing
hands, rate will be reset at market rate and our economy will start his recovery.
 
We will learn for the future generation to keep our government out of the lending business and let the economy goes up and down.
 
You have to adjust the course just as running a marathon.
 
Thanks and I will see you next week.

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04.17.12 Stansberry Research How the Dollar will loose their Wold Currency...

by qinfovio 24. April 2012 12:50
Good afternoon,
 
      We are very fortunate to have in our backyard the World's Salad Bowl known as the "Salinas Valley" that is a leader in the agriculture
 industry with 1.5 million acres of agriculture land. It is the best time of the year for you to have a taste of it, from strawberries, cauliflowers.
broccoli, iceberg, romaine, artichoke...we are lucky to have it in our backyard, use as much as you can for a better healthy life.      
 
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      Few words with our short sale market: as banks have picked up speed, the biggest delay is coming now from HAFA/HAMP program:
 
The Home Affordable Foreclosure Alternatives (HAFA) Program is designed to help borrowers – both those in default and at imminent risk of default –
who are eligible for but unsuccessful under the Home Affordable Modification Program (HAMP). HAFA streamlines and standardizes industry practices
for preforeclosure sales and deeds-in-lieu to provide eligible borrowers with an alternative to foreclosure.
 
Before we can proceed with any short sale, lenders have to go through HAMP and if the owner does not qualify, then they might proceed to
a normal short sale and it will take anywhere from 30 to 45 days to hear back from HAMP. More jobs have been created but for useless result. 
 
                                            here is more info https://www.efanniemae.com/sf/servicing/hafa/
 
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      I forgot to put a link last week concerning the Tax Relief Act that is ending in 2012 and you might be eligible up to 2 Millions as your primary residence. 
Here is the link with more information and you might want to check withan attorney to be more safe http://www.irs.gov/individuals/article/0,,id=179414,00.html
 
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      I end up last week with "I will have few words for you next week for the cost of not being the WORLD Currency anymore."
 
I am a subscriber of Stansberry Research for over a year and I can see an evolution with their knowledge with our evolving economy.
For the past few years they predicted that the Dollar will loose their World Currency position, but cannot figure it out how it is going to happen.
 
And now, we can see in a better way how it will happen. I just read "This Time is Different" eight centuries of financial folly
by Carmen Reinhart & Kenneth Rogoff, an extremely boring book with hundreds of data for the past eight centuries. 
 
Just learning how hurricane work looking at data help a lot, but learning how hurricanes are created will help to plan where they
will land. It is a similar situation with our economics, we have to move from data to reality. It is of course unpopular to
our politicians. You can check the video below, it is just information that can be use understanding where we are hitting
with the global economy.
 
 

Thanks and I will see you next week.

 

 

Christian Viollaz
License 01318338
 
To Find Out What's Your Home Worth?
 

 

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04.10.12 PAGE Pan Asian Gold Exchange

by qinfovio 17. April 2012 13:42
Good afternoon,
 
Many homeowners will have an important decision to make with their housing since the Tax Relief act is ending in 2012 and you
might be eligible up to 2 Millions as your primary residence. 
 
                                                                                    ______________________________________
 
 
I am expecting our crisis to get more messy and I will have to adjust my business accordingly. I will not expect any improvement for the
real estate part within the next 3 to 5 years.
 
I end up my last week with "I will tell you next week with the one third missing to complete our real estate crisis."
 
Today, I want to introduce to some of you that might already know to "PAGE Pan Asian Gold Exchange"
 
 
Before 1944, the world currency was the Pound Sterling and after World War II moved to the US Dollar.
 
To be a world currency you have to be able to back your currency with gold and it was done until 1971 until Richard Nixon
made the change. In a Gold Backed Economy, the authorities cannot increase the money supply by just printing more money.
 
It is how we did to finance our debt. The federal reserve print more money and sell it through bonds and securities and when the economy bounce back they will take this money out of circulation and will reset the value of the dollar. But the more debt that you have (around 16,4 trillions by the end of this year), the more printing you will do and is even more easy when you don't have anything to back it up beside paper...until somebody else is ready to take your place.
 
The two world wide gold trading are in London with LBMA and in New York COMEX. They adjust the value of the gold that is
back by paper by less than 4% in physical bullion. PAGE will start to trade this coming June with 100% back by physical
gold or their currency Renminbi.
 
Would you prefer to buy a cheaper GOLD with COMEX and LBMA that is back up with less than 4% in physical bullion
or a little bit a higher price through PAGE that is 100% physical gold?  
 
Why should you be concern? I will have few words for you next week for the cost of not being the WORLD Currency anymore.
 
                                              
Thanks and I will see you next week!

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04.03.12 Tuesday Talk

by qinfovio 10. April 2012 11:43
Good afternoon,
 
I want to start with our home inventory where it is very low in some area, 20 in Seaside, 34 in Monterey and in the mid 25 all around the Salinas area.
 
A low inventory should bring home price up, right? But not in our case. A typically example is with a new listing in Seaside at 1505 Military Ave.
A very decent location, nice house condition, lot size over 10,000 square feet, a 2 bedrooms with 1 bathroom listed at only $186,000.00.
It is a short sale subject to lender approval and this house will sell and should appraise more around $250,000/$265,000. It is below foreclosure's sale price. Seller's agent just try to bring a bunch of offers, with highest and best, but mean time, will drop home value to $30,000.
 
If you have a house price like that one in your neighborhood, you will be not a happy homeowner.
 
The other issues that we are having is with the appraisers that will take in consideration the listed price and affect the selling price for all other homes in the area.
 
I attached home sale for 2005/2008/2012 and beside the inventory I want to point out the median sale price in different areas.
As the low end home price has adjusted by a ratio of 50 percent, it will then move to the higher end.
 
By bringing you the total sales volume between these three years for each of this month, it will also explain our deficit, the lost of income
that occurred at the level of a County. Income coming from Documentary Transfer Tax, Property Tax(average 1.1%).
We have total dollar volume of $277,271,088 in April 2005 compare to $103,714,687.
 
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Going back to our low inventory, our government is achieving their plan. I attended couple webinar from BOA and also Wells and all other lenders will follow. All these lenders have put a bunch of personnel to assist all homeowners, wanting to keep their home. It makes our government looks good, reduce unemployment, save homeowner home, the American Dream!
 
But remember on my last week Tuesday Talk, I mentioned that this year was the last year for Mortgage Debt Relief. The lost that your lender is taking is TAX FREE 
income until the end of 2012. Any short sale, loan modification, foreclosure after 2012 will report as an income to you. If lender take a lost of $200,000 you might end up 
around $60,000 to pay.
 
This year is going to be a very important decision time maker for a lot of homeowners.  If your home has lost 30% of its value, keeping your home would be like a car lease,
where you cannot get out of it unless you pay a large sum at the end.
 
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I have also some good news, despite this real estate crisis bubble that we went through. We are about at two third of it and we will be the first country in the world out of this bubble. Home price was inflated by speculation and banks deregulation. But now as our home price has declined by an average 50 to 60 percent to income level and it is what it will take to turn our economy back on.
 
I will tell you next week with the one third missing to complete our real estate crisis.
 
P.S Don't forget to use or refer our service.
 
Thanks and I will see you next week.

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Welcome to our Tuesday Talk!

by qinfovio 5. April 2012 15:38

 

Good afternoon,
 
The home inventory is low and our market is moving, but I am not completely sure that we hit the bottom yet.
The perfect example is with one our offer that we have in Marina, house was sold in 2010 for $407,000 and appraisal came back today at $360,000.
So, this will take me to the subject today concerning  the last year for short sale and it should reduce also the amount of foreclosure.
                                                                          
                                                                              ________________________________________
 
The Mortgage Debt Relief Act of 2007 generally allows taxpayers to exclude income from the discharge of debt on their principal residence.
Debt reduced through mortgage restructuring, as well as mortgage debt forgiven in connection with a foreclosure, qualifies for the relief.

This provision applies to debt forgiven in calendar years 2007 through 2012. Up to $2 million of forgiven debt is eligible for this exclusion ($1 million if married filing separately).
The exclusion does not apply if the discharge is due to services performed for the lender or any other reason not directly related to a
decline in the home’s value or the taxpayer’s financial condition. Here is the link with more information and you might want to check with
 
It included all property purchase prior to 01/01/2009. So for the case for this house in Marina, they can short sale if if they want, but seller will have to pay tax
on lender lost. If there is a $70,000 lost and their tax brake at 30% they will end up paying $21,000 in tax.
 
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Last weekend I ran into my neighbor telling me that they just bought a home and they will be dumping their condo into foreclosure or a short sale.
I told my neighbor that the Tax Forgiveness/Debt Relief Act was not made for this purpose and they will have to pay tax on it.
Her respond of course that her friend did the same a year ago and that this year was the last year to do it.
 
It is just a bunch of fraudulent acts just like that one that started our credit crisis and I will tell you next week what it will cost us.
 
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I also met a good local non profit organization the Housing Resource Center of Monterey County in Salinas, go check their site at www.hrcmc
They can  help homeowner through their foreclosure counseling services. It should be the first step for homeowners that need help.
They can also help you plan on how to save money, budget yourself to buy a home...and the little stuff that we used to do and conveniently
forgot in the twenty century.
 
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I run through a good story while visiting some neighborhood and this one was month ago on Lorimer Ave South Salinas.
While I was knocking at the door of a homeowner that was in my NOD list, I was also not sure if the home was occupied.
 
The neighbor came to me, mentioning that the house was vacant for almost a year, that she was parking her car in the driveway
and she was mowing the lawn so it will look like the property was occupied. I told what an inspiration she was for her community and I should
bring the media.
 
 Thanks and I will see you next week!

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