Harry’s Monthly Real Estate Insight

The market continues to improve in the number of sales, but it still is the foreclosures and bank owned properties that are getting the most attention and that is all to do with price. Numerous trade organizations and governmental organizations have proposed possible solutions, none have really been successful.  The government has attempted numerous programs from tax incentives to the HAP program, with little results. Home buyer tax credits prompted purchases, but mostly of bank owned properties. Struggling homeowners’ needs have gone wildly unmet.

In an interview with CBS News, John Boehner, House Speaker, said:  “Over the last couple years, Congress has really set up four programs to help with those mortgage problems. And unfortunately, none of those have worked. And all they’ve really done is drug out the length of time for the market to clear the problems. Which is unfortunate?” “I’m even more skeptical today that there isn’t anything the government can do to resolve these problems.” One real question is: Is it the government’s job to fix housing or should it correct itself? It isn’t exactly a partisan issue and it is the largest part of the economy that has been crippled. The only thing that really has helped sales is the drop in values, which is the same thing that hurt the market the most. It is still a mess and unfortunately looks like it will stay that way for a while. IT IS ALL ABOUT PRICING. We know where your home will sell, call us we can help!

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Specializing in properties in South Hampton Roads, Virginia.