Here is the page where I will post important information about the housing market recovery, including government and industry programs designed to help stabilize the local, state and national housing markets.

Congress has extended and expanded the Homebuyer's Tax Credit. The following link compares the rules as of January 1, 2009-November 30, 2009 to the new rules as of December 1, 2009-April 30, 2010:

http://images.agentcenter.com/client/3/2/4/36423/2009-NAR-Issue-Brief-Homebuyer-Tax-Credit-Changes-1104-1107.pdf

San Diego's Challenge to Recovery - RisMedia, 7/21/09

This article explains why the new rules for appraisals - intended to stabilize the system and better protect all parties - is having unintended consequences.  The new rule are preventing some deals from being closed and artifically keeping prices low, despite that sales numbers are up.  Read on.

http://rismedia.com/2009-07-20/catch-22-artificially-suppressing-san-diego-county-rebound/

President Obama's Mortgage Rescue Plan is Finally Being Implemented - 4/16/09

President Obama's mortgage rescue plan announed in February is finally being implented by the 6 largest mortgage lenders.  CNNMoney.com published an article today describing the basics of the program.  Call your lender to see if you qualify.

http://images.agentcenter.com/client/3/2/4/36423/CNNMoney_Obama_Mortgage_Plan_4-16-09.pdf

Is the Real Estate Market Approaching the Bottom?

Here is an article in the 4/1/09 San Diego Union Tribune that explores certain factors that may suggest a recovery and bottom that is in sight.  All is not rosy but this article points out that certain things must occur before a full recovery is in place; those recovery signs are starting to show up.  Check out the article and decide for yourself.

http://images.agentcenter.com/client/3/2/4/36423/SDDT_Article_on_a_Possible_Housing_Bottom_4-1-09.pdf

Warning About Foreclosure Scams (3/22/09)

The California Association of Realtors has put out this one page resource warning about the public about various scams involving loan modification and foreclosure prevention companies.  This is important information for consumers and all home owners.  Click the link below to read the information and call me with any questions.

http://images.agentcenter.com/client/3/2/4/36423/CAR_foreclosure_scam_doc_3-22-09.pdf

NEW - Home Affordable Modification Program Guidelines (3/4/09)

On March 4, 2009 the U.S. Treasury Department announced the guidelines that will govern the new loan modification programs being sponsored by the federal government.  The programs are designed to help homeowners who meet the criteria specified in the guidelines.  In short, these programs are designed to help lenders and homeowners work out loan modifications and help people stay in their homes.  Here are the guidelines and other information about the programs.  Check out thse links:

U.S. Treasury press release:
http://www.treas.gov/press/releases/tg48.htm

Loan modification guidelines: http://www.treas.gov/press/releases/reports/modification_program_guidelines.pdf

Summary of the program guidelines: http://www.treas.gov/press/releases/reports/guidelines_summary.pdf

Fact sheet - updated program description:
http://www.treas.gov/press/releases/reports/housing_fact_sheet.pdf

First-time Buyer Tax Credit

New Program!  2009 First-Time Homebuyer Tax Credit: http://images.agentcenter.com/client/3/2/4/36423/First_time_homebuyer_tax_credit_--_Q_A_2-23-09_1_.doc

The federal government recently pased two different laws that included tax credits for 1st-time home buyers.  One was from 2008 and one more recently passed in 2009.  Some buyers have been confused beteen the two, so here I post a great Q&A that helps explain the differences.  Make sure to talk with your tax advisor for further details.  And call me with any questions.

http://images.agentcenter.com/client/3/2/4/36423/2008_and_2009_First_ime_Buyers_Tax_Credit_Q_A_3-11-09.pdf

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