Real Estate teton Valley Idaho - Jackson Hole Wyoming

CALL ME FOR CUSTOMIZED FORECLOSURE LIST

pH 208 390 0737

------------------------------
Rebates for Appliance Buyers in 2010

The 2010 plan to encourage energy efficiency is the government rebate for appliance buyers. The plan lets people swap their old appliances for new energy-efficient models at very low prices.

Here are some things to keep in mind:
· State plans vary. For state by state specifics, check out the state-by-state rebate program.

· Is it really a deal? It may not be worth replacing appliances that are fewer than seven years old, but older models can represent a real deal. Joe McGuire, president of the Association of Home Appliance Manufacturers, says a 20-year-old refrigerator uses three times as much power as a new Energy Star-approved model.

· Buy now before it ends. There is only about $300 million available and some states got more money than others. It is expected to run out fast.

Source: The Associated Press, Vinnee Tong (12/30/2009)



-----------------------------



Sincerely - your friend and well wisher.

Timothy S Anderson
Silver Peaks Realty Driggs Idaho
Windermere Prestige Properties Las Vegas Nevada
pH 208 390 0737
email : buy@buytetonland.com
www.buytetonland.com
www.buylvland.com

Real Estate Driggs Idaho - Jackson Hole Wyoming

CALL ME FOR CUSTOMIZED FORECLOSURE LIST

pH 208 390 0737

------------------------------
Loan Modifications Hit Credit Scores

Applying for a mortgage modification and being in a months-long trial period can devastate a home owner’s credit score.

Under the government plan, troubled borrowers can have their mortgage payments reduced to 31 percent of their pre-tax income. They are first put in a trial modification for several months to test whether they can meet the requirements of the new mortgage.

Borrowers who were previously current on their mortgages will see their FICO scores fall about 100 points while they are in the trial period, according to the Treasury Department. Borrowers who were previously late or missed payments will see their scores fall more, the government says.

The longer a borrower is in the trial period, the greater the impact on their credit scores, Once the modification is approved, the borrowers’ mortgage credit status will be listed as current and that should improve their scores, the Mortgage Bankers Association explains.

Even so, the delinquency remains on credit reports for up to seven years and can make getting credit for something else like a car difficult and expensive, borrowers report.

Source: CNNMoney.com, Tami Luhby (12/28/2009)




-----------------------------



Sincerely - your friend and well wisher.

Timothy S Anderson
Silver Peaks Realty Driggs Idaho
Windermere Prestige Properties Las Vegas Nevada
pH 208 390 0737
email : buy@buytetonland.com
www.buytetonland.com
www.buylvland.com

Real Estate Teton Valley Idaho - Jackson Hole Wyoming

CALL ME FOR CUSTOMIZED FORECLOSURE LIST

pH 208 390 0737

------------------------------
Interest Rates Predicted to Reach 6%

Interest rates are likely to rise to 6 percent by the end of 2010, predicted Amy Crews Cutts, deputy chief economist at Freddie Mac.The end of the Federal Reserve program that buys mortgage-backed securities will drive rates higher because private buyers will demand more return than the Fed.

"Extraordinary resources have been put into keeping the rates down and supporting the mortgage markets and it's hard to imagine that the rates can go much lower than they are," Crews Cutts said. "Anything we get at or below 5 percent is a gift at this point.

"Source: Washington Post, Dina ElBoghdady (12/26/2009)



-----------------------------



Sincerely - your friend and well wisher.

Timothy S Anderson
Silver Peaks Realty Driggs Idaho
RE/MAX Associates Las Vegas Nevada
pH 208 390 0737
email : buy@buytetonland.com
www.buytetonland.com
www.buylvland.com

Real Estate Teton Valley Idaho - Jackson Hole Wyoming / Foreclosure Property

Real CALL ME FOR CUSTOMIZED FORECLOSURE LIST

pH 208 390 0737

------------------------------
Coming Soon: More Foreclosures

More than 1.7 million homeowners were verging on foreclosure this fall, making it likely that these houses will soon end up on the market one way or the other, driving down overall housing values.

"We're going to be dealing with high levels of distressed (sales) in the marketplace for at least a couple of years," says Mark Fleming, chief economist of researcher First American CoreLogic, which has been studying the problem.Some real estate practitioners say they fear that this onslaught is coming."

We've been in recovery mode for most of the year. How many foreclosures do they have to dump on the market to affect that? I don't know," says Deborah Farmer, owner of StarLight Realty in Tampa, Fla. "Any house priced under $225,000 will be affected by a large increase in foreclosures in this market.

"Source: Associated Press, Alan Zibel (12/17/2009)



-----------------------------



Sincerely - your friend and well wisher.

Timothy S Anderson
Silver Peaks Realty Driggs Idaho
RE/MAX Associates Las Vegas Nevada
pH 208 390 0737
email : buy@buytetonland.com
www.buytetonland.com
www.buylvland.com

Foreclosure / Short Sale / REO's Teton Valley Idaho - Jackson Hole Wyoming

CALL ME FOR CUSTOMIZED FORECLOSURE LIST

pH 208 390 0737

------------------------------

Four Tips for Smarter Foreclosure Shopping

Foreclosures can be good deals for homebuyers, but with 1.5 million of them on the market, shopping carefully is important.

Here are some tips for anyone navigating the foreclosure market:

Don’t pay too much. With so many exuberant buyers, bidding up a property beyond its worth can be easy to do.

Get to know the banks. Practitioners who establish relationships with asset managers at banks can facilitate good communication.

Factor in fix-up costs. Most banks would rather sell a property as-is. Buyers should consider what shouldering that responsibility will cost. Touring the properties with a contractor can be a good plan.

Bid smartly. Help the buyer get the inside track by gathering as much information as you can about other bids.

Source: CNNMoney.com, Les Christie (11/19/2009)


-----------------------------



Sincerely - your friend and well wisher.

Timothy S Anderson
Silver Peaks Realty Driggs Idaho
RE/MAX Associates Las Vegas Nevada
pH 208 390 0737
email : buy@buytetonland.com
www.buytetonland.com
www.buylvland.com

Foreclosure / Short Sale / REO's Teton Valley Idaho - Jackson Hole Wyoming

CALL ME FOR CUSTOMIZED FORECLOSURE LIST

pH 208 390 0737

------------------------------
Commercial Real Estate Still Shaky

The downturn in commercial real estate still seems to be getting worse.By 2012, more than $1.4 trillion worth of commercial real estate loans will come due, according to investment firm ING Clarion Partners. Analysts at Deutsche Banks estimate that commercial borrowers will be unable to roll over three-quarters of the loans they took out in 2007, the worst year for toxic loans.But the more serious problem is the quality of the underlying loans, analysts say, pointing to examples of pricey deals that went south within months of the original sale.

Research firm Reis Inc. estimated that income projections made for properties that sold between 2005 and 2008 exceeded their historical performances by an average of 15 percent."It was all based on assumption of cash flow," says Howard S. Landsberg of New York-based consultant Weiser Realty Advisors.

"If you couldn't afford to pay the bank back now, in three years you could count on another $20 a square foot in rent. When the numbers didn't add up, some lenders got imaginative.”

Source: BusinessWeek, Mara Der Hovanesian and Dean Foust, with John Cady (11/13/2009)



-----------------------------



Sincerely - your friend and well wisher.

Timothy S Anderson
Silver Peaks Realty Driggs Idaho
RE/MAX Associates Las Vegas Nevada
pH 208 390 0737
email : buy@buytetonland.com
www.buytetonland.com
www.buylvland.com

Foreclosures / Short Sales / REO's Teton Valley Idaho - Jackson Hole Wyoming

CALL ME FOR CUSTOMIZED FORECLOSURE LIST

pH 208 390 0737

------------------------------

Low Prices Draw Investors Back to Market

Real estate investors are moving back into the market, according to a new survey from Move.com.According to the Move.com survey, 12.1 percent of home buyers today plan to buy a home as an investment property, compared to 5.6 percent in March 2009.

The survey found that 15.8 percent of those interested in investment property were men and 8.1 percent were women and 52.6 percent of the investment buyers were between ages 35 to 49.Of the 25.3 percent of buyers who are focusing on foreclosure properties, 42 percent regard the purchase they are considering an investment and don’t plan to live in the property themselves; 13.2 percent plan to rent out the property; 11.3 percent are going to fix up the property and resell it; and 17.4 percent plan to house a family member until the property can be sold profitably.

Of the 9.8 percent of buyers who say that they plan to purchase and live in a property in the next two years, 5.4 percent plan to purchase in the next 12 months; 48.3 percent are first-time buyers; 52.8 percent are women, and 44.1 percent are men.

Buyers of investment and personal property say they are motivated by these factors:

Prices are as low as they will go, 23.6 percent
Foreclosure prices are a bargain, 18.7 percent
Great selection of homes for sale in their target community, 21.2 percent
Concerned interest rates will rise, 14.2 percentSource: Move.com (11/11/2009)


-----------------------------



Sincerely - your friend and well wisher.

Timothy S Anderson
Silver Peaks Realty Driggs Idaho
RE/MAX Associates Las Vegas Nevada
pH 208 390 0737
email : buy@buytetonland.com
www.buytetonland.com
www.buylvland.com

Builders Coming Back To Market / Foreclosure / Short Sales / REO's Teton Valley Idaho - Jackson Hole Wyoming

CALL ME FOR CUSTOMIZED FORECLOSURE LIST

pH 208 390 0737

------------------------------

Builders on the Prowl for Property

Home builders who sold or walked away from properties at the height of the housing meltdown are back in the market for choice parcels to develop in places like Las Vegas, Southern California, and Orlando, Fla."In the past, (builders) had really been the ones that had been feeding the market and selling lots to investors," says Tom Dallape, a principal at The Hoffman Co., a land brokerage firm based in Irvine, Calif.

"Now all of a sudden they are rushing back in."Among builders buying aggressively are Ryland Group Inc. and Meritage Homes Corp. Pulte Homes Inc., which acquired Centex this year, is working off that builder’s inventory.

Analysts observing the market point out that these purchases could be regrettable. "There is certainly some risk that if the market tails off again or we start to see cancellations pick up, some of those deals that previously penciled may not pencil anymore," says Megan McGrath, an analyst with Barclays Capital.

Source: Associated Press, Alex Veiga (11/06/2009)


-----------------------------



Sincerely - your friend and well wisher.

Timothy S Anderson
Silver Peaks Realty Driggs Idaho
RE/MAX Associates Las Vegas Nevada
pH 208 390 0737
email : buy@buytetonland.com
www.buytetonland.com
www.buylvland.com

HUD Foreclosure / Short Sale / REO's Las Vegas Nevada

CALL ME FOR CUSTOMIZED FORECLOSURE LIST

pH 208 390 0737

------------------------------

HUD Foreclosure Property Las Vegas :

Call me about best opportunity to own investment property in Las Vegas.

Above condo :

2 BR, 2 Bath

959 sq ft

$ 43 200

click below for complete HUD Las Vegas foreclosure list :

http://www.buylvland.com/HUD_Foreclosure_Homes/page_2299293.html




-----------------------------



Sincerely - your friend and well wisher.

Timothy S Anderson
Silver Peaks Realty Driggs Idaho
RE/MAX Associates Las Vegas Nevada
pH 208 390 0737
email : buy@buytetonland.com
www.buytetonland.com
www.buylvland.com

Foreclosure / Short Sale / REO's Teton Valley Idaho - Jackson Hole Wyoming

CALL ME FOR CUSTOMIZED FORECLOSURE LIST

pH 208 390 0737

------------------------------

Obama Signs Extended Tax Credit into Law

Expected to contribute approximately $22 billion to the economy, Congress overwhelmingly passed a bipartisan measure this week extending the $8,000 home buyer tax credit to April 30, 2010.The legislation, which is part of a larger bill that also extends unemployment benefits, was signed into law by President Obama today.

More people are now eligible to take advantage of the law, which includes a $6,500 tax credit for buyers who are current home owners and have lived in their home for five of the past eight years. Income limits for eligible home buyers were also expanded to $125,000 for single buyers and $225,000 for couples, up from $75,000 for individuals and $150,000 for couples. Qualifying home prices are capped at $800,000. NAR's Government Affairs Division has compiled facts on the changes made to the current tax credit.

NAR members sent more than 500,000 letters to leaders in Congress and made nearly 13,000 telephone calls to Senate offices last weekend to encourage support. So far this year, REALTORS® have spent nearly $14 million lobbying Congress, according to federal campaign finance records compiled by the Center for Responsive Politics. Sen. Johnny Isakson, a Georgia Republican and a former member of NAR, was key in extending the credit, as well as pushing it through initially.

Other prominent boosters include the National Association of Homebuilders and the Mortgage Bankers Association.Listen to NAR President Charles McMillan's podcast announcement.NAR economists estimate that approximately 2 million people will take advantage of the tax credit this year.

Sources: NAR and The Associated Press, Julie Hirschfeld Davis (11/06/2009)


-----------------------------



Sincerely - your friend and well wisher.

Timothy S Anderson
Silver Peaks Realty Driggs Idaho
RE/MAX Associates Las Vegas Nevada
pH 208 390 0737
email : buy@buytetonland.com
www.buytetonland.com
www.buylvland.com

Homebuyers Tax Credit / Foreclosure / Short Sale / REO's Teton Valley Idaho - Jackson Hole Wyoming

CALL ME FOR CUSTOMIZED FORECLOSURE LIST

pH 208 390 0737

------------------------------
Both Houses OK Tax Credit Extension, Expansion

The House today and the Senate yesterday passed legislation to extend the $8,000 home buyer tax credit to May 1, 2010, for first-time buyers and add a $6,500 tax credit for repeat buyers if they've lived in their home for five of the past eight years. Home prices are capped at $800,000. The legislation in both houses was included in a bill to extend unemployment benefits and is expected to be signed by President Obama shortly.

“REALTORS® appreciate the swift action by Congress to extend the home buyer tax credit and expand it to some current homeowners,” says NAR President Charles McMillan. “As the leading advocate of housing and real estate issues, we urge President Obama to sign this legislation into law quickly to keep the momentum going in the fragile recovery of the nation’s housing market.”Under the bill, income limits are expanded to $125,000 for individuals and $225,000 for joint filers.

Individuals with incomes up to $145,000 and joint filers with incomes up to $245,000 qualify for reduced credits.Households who have binding contracts in place by April 30 will be allowed an additional 60 days to complete their transaction. The deadline for members of the military serving out the U.S. for at least 90 days between Jan. 1, 2009, and May 1, 2010, has been extended one year.

Taxpayers can claim the credit on their federal income tax returns. If the credit exceeds their tax bill, the government will issue a check. Taxpayers will be able to claim the credit on their 2009 income tax return for purchases made in 2010.

Compare the current tax credit with the newly passed version on

REALTOR.org. More on the credit is available from NAR. Source: The Associated Press (11/5/2009)



-----------------------------



Sincerely - your friend and well wisher.

Timothy S Anderson
Silver Peaks Realty Driggs Idaho
RE/MAX Associates Las Vegas Nevada
pH 208 390 0737
email : buy@buytetonland.com
www.buytetonland.com
www.buylvland.com

HUD Auction Homes / Foreclosure / Short Sales / REO's Teton County Idaho - Jackson Hole Wyoming

CALL ME FOR CUSTOMIZED FORECLOSURE LIST

pH 208 390 0737

------------------------------
Stress in High-Foreclosure States

People in many parts of the country continue to be stressed over the lousy economy and foreclosures, according to the Associated Press’ monthly analysis of economic stress in more than 3,100 U.S. counties.The hardest hit counties are in the Industrial Midwest, the Southwest, and the Southeast. In the North, where the economy wasn’t hit as hard by the housing bust, economic stress levels are lower."

Housing still is at the epicenter of this crisis," said Sean Snaith, an economist at the University of Central Florida.The highest stress levels were in states that had the worst housing meltdown:

Nevada, 21.95
Michigan, 17.75
California, 16.2
Florida, 15.4
Arizona, 14.26

States with the lowest stress scores were:
North Dakota, 4.07
South Dakota, 5.01
Nebraska, 5.71
Montana, 6.6
Wyoming, 6.9



-----------------------------

Call me for details on bidding online auction

for HUD foreclosed homes in Las Vegas

go to : http://www.buylvland.com/ and begin your HUD property search.

Sincerely - your friend and well wisher.

Timothy S Anderson
Silver Peaks Realty Driggs Idaho
RE/MAX Associates Las Vegas Nevada
pH 208 390 0737
email : buy@buytetonland.com
www.buytetonland.com
www.buylvland.com

Short Sale Specialist / Foreclosure / REO's Teton Valley Idaho - Jackson Hole Wyoming

CALL ME FOR CUSTOMIZED FORECLOSURE LIST

pH 208 390 0737

------------------------------

Default Mortgage? Professor Says Get Out

“Fear, shame, and guilt” are preventing Americans from walking away from homes when their mortgages are underwater, even when walking away is the best decision, says a University of Arizona professor of law who studied the issue and wrote a paper on managing the crisis.“Home owners should be walking away in droves,” writes Brent T. White, an associate professor of law at the University of Arizona.

“The real mystery is not – as media coverage has suggested – why large numbers of home owners are walking away, but why, given the percentage of underwater mortgages, more home owners are not,” the professor says.White proposes “leveling the playing field” between bank and borrower by amending the Fair Credit Reporting Act to prevent lenders from reporting mortgage defaults to credit bureaus.

“It is time to put to rest the assumption that a borrower who exercises the option to default is somehow immoral or irresponsible,” White writes.




Source: The Wall Street Journal, James R. Hagerty (10/30/2009)


call me for short sale advise pH 208 390 0737

" Proven Short Sale Success "
-----------------------------



Sincerely - your friend and well wisher.

Timothy S Anderson
Silver Peaks Realty Driggs Idaho
RE/MAX Associates Las Vegas Nevada
pH 208 390 0737
email : buy@buytetonland.com
www.buytetonland.com
www.buylvland.com

Foreclosure / Short Sale / REO's Teton Valley Idaho - Jackson Hole Wyoming

CALL ME FOR CUSTOMIZED FORECLOSURE LIST

pH 208 390 0737

------------------------------
BANK APPROVED SHORT SALE PRICE

LAST OF INVENTORY

$195 000

1791 sq ft

3BR, 2 Bath

Custom Home

Call me for details pH 208 390 0737



-----------------------------



Sincerely - your friend and well wisher.

Timothy S Anderson
Silver Peaks Realty Driggs Idaho
RE/MAX Associates Las Vegas Nevada
pH 208 390 0737
email : buy@buytetonland.com
www.buytetonland.com
www.buylvland.com

Foreclosure / Short Sales / REO's Teton Valley Idaho - Jackson Hole Wyoming

CALL ME FOR CUSTOMIZED FORECLOSURE LIST

pH 208 390 0737

------------------------------
Senate Dems on Board with Credit Extension

Senate Banking Committee Chairman Chris Dodd (D-Conn.) says Senate Democrats have agreed to extend the first-time home buyer tax credit. The latest version extends the program to home sales signed — not closed — by April 30.

Purchasers would have another 60 days to close the sale. The credit will also be expanded to include so-called step-up buyers who have lived in their current home for at least five years.The credit would be cut nearly 10 percent to a $7,290 cap. Income eligibility for first-time home buyers would stay the same, but it would rise for step-up buyers to $125,000 for individuals and $250,000 for couples.

Source: Bloomberg News, Dawn Kopecki and Ryan Donmoyer (10/27/2009)



-----------------------------



Sincerely - your friend and well wisher.

Timothy S Anderson
Silver Peaks Realty Driggs Idaho
RE/MAX Associates Las Vegas Nevada
pH 208 390 0737
email : buy@buytetonland.com
www.buytetonland.com
www.buylvland.com

Wyoming Acreage / Base of Grand Targhee Ski Area / Foreclosure / Short Sale / REO's Teton Valley Idaho - Jackson Hole Wyoming

CALL ME FOR CUSTOMIZED FORECLOSURE LIST

pH 208 390 0737

------------------------------
70 Wyoming Acreage

Split and develop into two 35 ac pieces

WATER RIGHTS !!

Year Round Stream

$40 ac / $ 2 800 000

Borders BLM / National Forest

Direct Access Grand Targhee Ski Area



-----------------------------



Sincerely - your friend and well wisher.

Timothy S Anderson
Silver Peaks Realty Driggs Idaho
RE/MAX Associates Las Vegas Nevada
pH 208 390 0737
email : buy@buytetonland.com
www.buytetonland.com
www.buylvland.com

Foreclosure / Short Sale / REO's Teton Valley Idaho - Jackson Hole Wyoming

CALL ME FOR CUSTOMIZED FORECLOSURE LIST

pH 208 390 0737

------------------------------

SHORT SALE - $ 185 K

Spectacular three story town home. Located just outside Driggs Idaho on popular Ski Hill Road corridor. Located on main access to major ski resort Grand Targhee Ski Area. Close to golf, wilderness, snowmobile access, hiking, big game hunting and Grand Targhee Ski Area. This home is well maintained. Priced to sell and positioned for major price appreciation with rebounding real estate market

3 BR

2 Bath

1341 sq ft

attached garage

MAKE AN OFFER !

Great Property !

-----------------------------



Sincerely - your friend and well wisher.

Timothy S Anderson
Silver Peaks Realty Driggs Idaho
RE/MAX Associates Las Vegas Nevada
pH 208 390 0737
email : buy@buytetonland.com
www.buytetonland.com
www.buylvland.com

Foreclosure / Short Sale / REO's Teton Valley Idaho - Jackson Hole Wyoming

CALL ME FOR CUSTOMIZED FORECLOSURE LIST

pH 208 390 0737

------------------------------

2745 sq ft

3 br, 4 bath

Teton Springs Four Seasons resort

$ 389 K

DO NOT LET THIS OPPORTUNITY SLIP BUY TO OWN IN THE

PRESTIGIOUS TETON SPRINGS FOUR SEASON RESORT !


-----------------------------



Sincerely - your friend and well wisher.

Timothy S Anderson
Silver Peaks Realty Driggs Idaho
RE/MAX Associates Las Vegas Nevada
pH 208 390 0737
email : buy@buytetonland.com
www.buytetonland.com
www.buylvland.com

Foreclosure / Short Sales / REO's Teton Valley Idaho - Jackson Hole Wyoming

CALL ME FOR CUSTOMIZED FORECLOSURE LIST

pH 208 390 0737

------------------------------
Spectacular three story town home.

Located just outside Driggs Idaho on popular Ski Hill Road corridor. Located on main access to major ski resort Grand Targhee Ski Area. Close to golf, wilderness, snowmobile access, hiking, big game hunting and Grand Targhee Ski Area. This home is well maintained. Priced to sell and positioned for major price appreciation with rebounding real estate market

1341 sq ft

3 br, 2 bath

attached garage

short sale $ 185K



-----------------------------



Sincerely - your friend and well wisher.

Timothy S Anderson
Silver Peaks Realty Driggs Idaho
RE/MAX Associates Las Vegas Nevada
pH 208 390 0737
email : buy@buytetonland.com
www.buytetonland.com
www.buylvland.com

Foreclosure / Short Sale / REO's Teton Valley Idaho - Jackson Hole Wyoming

CALL ME FOR CUSTOMIZED FORECLOSURE LIST

pH 208 390 0737

------------------------------
Fed Calls Housing Upturn a Good Sign

The Federal Reserve's “Beige Book” report, released Wednesday, points to housing as a bright spot in the economic landscape and applauds banks that lent to first-time homebuyers.It calls commercial real estate a consistently weak sector, weighed down by business closures and the difficulty in refinancing.

In a separate report Wednesday, the U.S. Labor Department said the number of jobs fell in 43 states and the District of Columbia, with the unemployment rate rising in 23 states. Industries with the strongest economic gains were residential real estate and manufacturing.



-----------------------------



Sincerely - your friend and well wisher.

Timothy S Anderson
Silver Peaks Realty Driggs Idaho
RE/MAX Associates Las Vegas Nevada
pH 208 390 0737
email : buy@buytetonland.com
www.buytetonland.com
www.buylvland.com

Foreclosures / Short Sales / REO's Teton Valley Idaho - Jackson Hole Wyoming

CALL ME FOR CUSTOMIZED FORECLOSURE LIST

pH 208 390 0737

------------------------------
Chinese Drywall Is a Growing U.S. Problem

Thousands of lawsuits by Americans complaining that drywall imported from China is causing them health problems are awaiting action in federal and state courts. A consolidated class action will be heard beginning in January.

“There could be 60,000 to 100,000 homes that are worthless and have to be ripped completely down and rebuilt,” said Arnold Levin, a Philadelphia lawyer and co-chairman of the plaintiffs’ steering committee.Later in October, the Consumer Product Safety Commission will release the results of its study to determine what’s wrong with the drywall and what mediation programs might work.

Knauf Plasterboard Tianjin, a German company with manufacturing plants in China that supplied about 20 percent of the Chinese drywall said its own tests showed the drywall didn’t cause health problems.

Some experts believe that the reason that drywall seems to be causing respiratory problems and headaches is because American homes are built tighter than those in Asia, where the drywall was also sold.



-----------------------------



Sincerely - your friend and well wisher.

Timothy S Anderson
Silver Peaks Realty Driggs Idaho
RE/MAX Associates Las Vegas Nevada
pH 208 390 0737
email : buy@buytetonland.com
www.buytetonland.com
www.buylvland.com

Foreclosure / Short Sale / REO's Teton Valley Idaho - Jackson Hole Wyoming

CALL ME FOR CUSTOMIZED FORECLOSURE LIST

pH 208 390 0737

------------------------------
Private Investors Dominate Foreclosure Market

Cities and municipalities are having trouble spending the money allotted by the controversial Neighborhood Stabilization Program, which was passed by Congress last year to acquire houses in blighted neighborhoods.The goal was to buy vacant properties at 1 percent less than appraised value, rehab them, and either sell or rent the homes to low-income residents.The stumbling block is that the houses are being purchased by private investors and more affluent home buyers at cheap prices.Some people don’t see that as a problem.

"If the private market is coming back and buying houses and crowding the government out, that's not a bad thing," said Joseph Pigg, senior counsel at the American Bankers Association.In some areas, the nonprofit National Community Stabilization Trust is working with banks to give government access to foreclosed homes before they are put on the market.

But that may be too little, too late. "It's very unclear when the dust settles how much real change in neighborhood stability and quality of life we'll see," said housing expert Alan Mallach of the Brookings Institution.

Source: CNNMoney.com, Tami Luhby (09/29/2009)



-----------------------------



Sincerely - your friend and well wisher.

Timothy S Anderson
Silver Peaks Realty Driggs Idaho
RE/MAX Associates Las Vegas Nevada
pH 208 390 0737
email : buy@buytetonland.com
www.buytetonland.com
www.buylvland.com

Real Estate Alert !

CALL ME FOR CUSTOMIZED FORECLOSURE LIST

pH 208 390 0737

------------------------------

Just came on market :

Victor Idaho

38 ac with home and barn

Motivated seller

$ 500 000

CALL TOAY



-----------------------------



Sincerely - your friend and well wisher.

Timothy S Anderson
Silver Peaks Realty Driggs Idaho
RE/MAX Associates Las Vegas Nevada
pH 208 390 0737
email : buy@buytetonland.com
www.buytetonland.com
www.buylvland.com

Foreclosure / Short Sale / REO's Teton Valley Idaho - Jackson Hole Wyoming

CALL ME FOR CUSTOMIZED FORECLOSURE LIST

pH 208 390 0737

------------------------------

Guess Who's Ditching Their Mortgages?

A study of 24 million credit files by national credit bureau Experian and consulting company Oliver Wyman has shown that home owners with high credit scores are 50 percent more likely to deliberately walk away from a mortgage than lower-scoring borrowers.

The industry calls these “strategic defaults” and their numbers grew to 588,000 in 2008, double the total in 2007, and well beyond most earlier estimates.

The study determined:

Strategic defaulters tend to go straight from paying their mortgages dependably to not paying at all.

Strategic defaulters are heavily concentrated in negative-equity markets like California and Florida.

Two-thirds of strategic defaulters have only one mortgage.

Most likely to default are home owners with large balances and the highest credit ratings.

Piyush Tantia, an Oliver Wyman partner and a principal researcher on the study, said strategic defaulters "are clearly sophisticated” and look on the decision to default as a business strategy.

"Well, I'm $200,000 in the hole on my house, and yes, I'll damage my credit," Tantia says of defaulters.

Source: Washington Post Writers Group, Kenneth R. Harney (09/27/2009)


-----------------------------



Sincerely - your friend and well wisher.

Timothy S Anderson
Silver Peaks Realty Driggs Idaho
RE/MAX Associates Las Vegas Nevada
pH 208 390 0737
email : buy@buytetonland.com
www.buytetonland.com
www.buylvland.com

Foreclosure / Short Sale / Bank Owned REO's Teton Valley IDaho - Jackson Hole Wyoming

CALL ME FOR CUSTOMIZED FORECLOSURE LIST

pH 208 390 0737

------------------------------


Housing Economists Predict Slow Growth

The fundamentals that drove the increase in housing values for the last century – increasing population, incomes, and household wealth – may not follow in the United States in the future. Some housing experts speculate this will change the economics of homeownership.

Over the next few decades, "We can expect a gradual rise [in home values], but not the bonanza we've become accustomed to between the end of World War II and 2006, and especially the last 20 years," says Robert Reich, public policy professor at UC Berkeley and U.S. Labor secretary in the Clinton administration.

The reasons for the change include the absence of pent-up demand that followed the Great Depression and World War II and the aging of the baby boomers who carried that housing demand forward, says housing consultant Thomas Lawler.

Source: Los Angeles Times, Peter Y. Hong (09/27/2009)



Sincerely - your friend and well wisher.

Timothy S Anderson
Silver Peaks Realty Driggs Idaho
RE/MAX Associates Las Vegas Nevada
pH 208 390 0737
email : buy@buytetonland.com
www.buytetonland.com
www.buylvland.com

Foreclosure Investment Las Vegas Nevada

CALL ME FOR CUSTOMIZED FORECLOSURE LIST

pH 208 390 0737

------------------------------

Investment Condo Las Vegas

$ 59K

3 BR, 2 Bath

On Desert Rose Golf Course

Call me about the above foreclosure investment opportunity.

----------------------------------------------


Sincerely - your friend and well wisher.

Timothy S Anderson
Silver Peaks Realty Driggs Idaho
RE/MAX Associates Las Vegas Nevada
pH 208 390 0737
email : buy@buytetonland.com
www.buytetonland.com
www.buylvland.com

Foreclosure / Short Sale / Bank Owned REO's Teton County Idaho - Jackson Hole Wyoming

Buying a Foreclosure Is No Picnic

Buyers seeking a foreclosed property should realize that not every foreclosure is a good deal. Urge would-be buyers of foreclosures to have the property thoroughly inspected, says Dan Steward, president of the Tampa-based inspection firm, Pillar to Post. Lenders are not held to the same disclosure requirements as sellers.

Steward says damage isn’t always obvious. While it doesn’t take an expert to see that a toilet has been ripped out, it does require someone with knowledge to know that ripping it out damaged a pipe 20 feet down the line.The best way for the buyer to get the property is to follow the bank’s instructions closely, says Ryan Melvin, co-owner of More Realty Group in Las Vegas, which specializes in foreclosures.

Another quirk that sometimes surprises buyers of real-estate-owned properties, or REOs, is the scrutiny that banks place on the buyers' credit, even though they are using a different lender.

Source: The Wall Street Journal, Amy Hoak (09/27/2009)




Sincerely - your friend and well wisher.

Timothy S Anderson
Silver Peaks Realty Driggs Idaho
RE/MAX Associates Las Vegas Nevada
pH 208 390 0737
email : buy@buytetonland.com
www.buytetonland.com
www.buylvland.com

Foreclosure / Short Sales / REO's Teton Valley Idaho - Jackson Hole Wyoming

Sincerely - your friend and well wisher.

Timothy S Anderson
Silver Peaks Realty Driggs Idaho
RE/MAX Associates Las Vegas Nevada
pH 208 390 0737
email : buy@buytetonland.com
www.buytetonland.com
www.buylvland.com

Foreclosure / Short Sale / REO's Teton Valley Idaho - Jackson Hole Wyoming

Is the Foreclosure Slowdown Temporary?

Legal entanglements and well-intentioned home-owner-assistance efforts have slowed the pace of foreclosures, but eventually many of these distressed homes will hit the market anyway.Some observers say these delays are prolonging the housing crisis and creating a “shadow” inventory that will cause more housing market pain."There's going to be a flood [of bank-owned homes] listed for sale at some point," says John Burns, a real-estate consultant based in Irvine, Calif.

Burns believes that when the onslaught hits, it will drive down home prices still further. On average, he expects home prices to fall another 6 percent next year.Ivy Zelman, CEO of Zelman & Associates research firm, estimates that there are 3 million to 4 million foreclosed homes that will hit the market in the next few years.

How traumatic the impact will be depends on whether the flow of homes going up for sale resembles "a fire hose or a garden hose or a drip," she says.

Source: The Wall Street Journal, Ruth Simon and James R. Hagerty (09/23/2009)

Sincerely - your friend and well wisher.

Timothy S Anderson
Silver Peaks Realty Driggs Idaho
RE/MAX Associates Las Vegas Nevada
pH 208 390 0737
email : buy@buytetonland.com
www.buytetonland.com
www.buylvland.com

Foreclosure / Short Sale / REO's Teton Valley Idaho - Jackson Hole Wyoming

Federal Index Shows Home Prices Rising

U.S. home prices rose 0.3 percent in July compared to June, the Federal Housing Finance Agency said Tuesday.The index is 4.2 percent below what it was in 2008 and 10.5 percent off its peak in April 2007.The index excludes most expensive homes from its calculations, so prices appear to have declined less than they have by other measures.

The report "supports other evidence that the three-year long decline in prices has come to halt," Paul Dales, U.S. economist with Capital Economics, wrote in a note to clients. Other economists were less positive. "We think house price indexes are likely to edge somewhat lower in the fall when foreclosures become a larger share of home sales," Barclays Capital economist Nicholas Tenev wrote in a note to his clients.

Source: The Associated Press, Alan Zibel (09/22/2009)


Sincerely - your friend and well wisher.

Timothy S Anderson
Silver Peaks Realty Driggs Idaho
RE/MAX Associates Las Vegas Nevada
pH 208 390 0737
email : buy@buytetonland.com
www.buytetonland.com
www.buylvland.com

Foreclosure / Short Sale / REO's Teton Valley Idaho - Jackson Hole Wyoming

Commercial Prices Continue to Drop

Commercial real estate prices fell 5.1 percent from June to July, according to Moody's/REAL Commercial Property Price Indices.The index has been sliding steadily compared to last year and is down 30.8 percent compared to July 2008 and 38.7 percent below its peak in October 2007.

The volume of transactions also declined with sales during the first seven months of the year, averaging 375 per month, compared to 1,100 per month in 2008.

Source: The Associated Press (09/22/2009)

-------------------

Timothy S Anderson
Silver Peaks Realty
REMAX Associates Las Vegas, NV
pH 208 390 0737
email : buy@buytetonland.com
www.buytetonland.com
www.buylvland.com

Foreclosure / Short Sales / REO's Teton Valley Idaho - Jackson Hole Wyoming

Unemployed Home Owners May Get Assistance

The Obama administration has opened a dialogue with major lenders, economists, and government officials over the possibility of extending a financial lifeline to home owners who no longer can afford their mortgages because of job losses.

Possible strategies range from encouraging loan servicers to allow unemployed borrowers to skip some payments to providing grants or loans to temporarily cover mortgage obligations for home owners who become unemployed. The talks have drawn praise from some real estate groups and other interests, who say that without aid to this subset of homeowners, the housing recovery could lose momentum.

Source: USA Today, Stephanie Armour (09/18/09)

Foreclosures / Short Sales / REO's Teton Valley Idaho - Jackson Hole Wyoming

D.C. Dances Around Tax Credit Extension

Washington is being forced to take a hard look at the expiring $8,000 first-time homebuyer tax credit.Nearly a dozen bills have been proposed to extend the credit past the Nov. 30 deadline, but the top decision makers are just beginning to weigh in.

On Thursday, Senate Majority Leader Harry Reid endorsed a six-month extension. Treasury Secretary Timothy Geithner said Thursday that he hasn’t made a decision yet. And the White House economic team says it will make a recommendation to President Barack Obama by the end of Friday.

Extending the credit is a tough sell in some corners because so far the credit has cost an estimated $15 billion, twice what was projected last February.S

ource: The Associated Press, Adrian Sainz (09/17/2009)

Foreclosure / Short Sales / REO's Teton Valley Idaho - Jackson Hole Wyoming

Commercial Prices Fall as Vacancy Rates Rise

The value of commercial property is being driven by vacancy rates—the higher the vacancy rate, the lower the price.At the height of the boom, a high vacancy rate was sought after because the buyer could fill the space and raise rents.

Today, finding tenants is a major challenge in many areas and buyers will pay more if a building has guaranteed tenants for the long term. Robert Von Ancken, the senior appraiser for Grubb & Ellis in New York, estimates that substantial vacancies cost a seller as much as 30 percent of value.

“Investors today are very hesitant to make a mistake by underwriting improvement, decreasing vacancy, or increasing rent,” says Scott A. Singer, the executive vice president of the Singer & Bassuk Organization, a New York company that arranges financing.

Source: The New York Times, Terry Pristin (09/15/2009)

Foreclosure / Short Sale / REO's Teton Valley Idaho - Jackson Hole Wyoming

How to Spot Foreclosure-Prevention Scammers

Here’s how the most common foreclosure-prevention scams work: The desperate home owner gets a letter that says something like, “We know you’re having a hard time. We have a pipeline to your lender and can help you save your home. Call this toll-free number now.”

Home owners call the number and agree to pay $1,200 to $1,500 upfront for help with their mortgage. Nothing happens. Their home still goes into foreclosure.Harold Kirtz, a lawyer for the Federal Trade Commission who is prosecuting these scammers, says victims are often well educated and financially savvy, but they also are “in a very vulnerable state.”

Here are some red flags that should make a home owner run in the opposite direction:

If the company guarantees success. Nobody can guarantee a lender won’t foreclose or will modify a loan.
If the company wants money upfront. "We can't say all advance fees are illegal," Kirtz says, “But in most cases they're probably bogus."

If the company wants the home owner to send mortgage checks directly to the modification firm. The only certainty there is that the company will cash the checks.

Source: Washington Post Writers Group, Kenneth R. Harney (09/13/2009)

Foreclosure / Short Sale / REO's Teton Valley Idaho - Jackson Hole Wyoming

Economists: Extend the Housing Tax Credit

More than 40 percent of all home buyers in 2009 will qualify for the federal tax credit, costing the government about $15 billion, twice the original estimate, but most housing experts applaud the policy and favor expanding it.

Now the decision is up to Congress.Mark Zandi, chief economist for Moody’s Economy.com, believes that the credit should be expanded to all homebuyers, even investors, through summer of 2010. “The risks of not doing something like this are too great,” he said. “I don’t think the coast is clear.”James Glassman of JPMorgan Chase also favors expanding the credit but continuing to limit it to first-time buyers.Industry members who are lobbying for the extension are optimistic and say they believe an extension will be approved in some form.

“There will be a lot of water under the bridge, a lot of compromise, between now” and a final bill, said Richard A. Smith, chairman of the Business Roundtable’s Housing Working Group.

Source: The New York Times, David Streitfeld (09/15/2009)

Foreclosure / Short Sale / REO's Teton Valley - Jackson Hole Wyoming

Worst Is Over," Fed Chief Declares Federal Reserve Chair Ben Bernanke declared the worst of the recession over, but warned that some of the economic pain will persist.

He said the unemployment rate, now at 9.7 percent, a 26-year high, is likely to keep rising."Unfortunately, unemployment will be slow to come down. It will come down but it may take some time," Bernanke said.

"Obviously, that's a very serious concern."The Fed chief said the economy is weighed down by tight credit, households saving more and spending less, and a still-unstable housing market.He urged Congress to revamp the financial system to avoid a similar crisis in the future.

Source: The Associated Press, Jeannine Aversa (09/15/2009)

Foreclosure / Short Sale / REO's Teton Valley Idaho - Jackson Hole Wyoming

Examine Paperwork Prior to Foreclosure

A Florida real estate consulting company specializing in mortgage forensic research, warns homeowners near or in foreclosure that legal violations are increasingly common in complex mortgages and urges them to examine their paperwork carefully.

Consumer Mortgage Audit Center, many of whose members are also members of the American College of Forensic Examiners Institute, works with attorneys nationwide to help them identify mortgage violations and instances of predatory lending that can offer options to save homeowners from foreclosure.CMAC urges homeowners facing foreclosure to:
Compare their HUD-1 document, which buyers get at settlement outlining most costs, with the same lender's good-faith estimate.

If the figures on the HUD-1 and the good faith estimate are different, this may signal that there is a problem.


To further investigate the issue, the homeowners should consider consulting an attorney who handles foreclosure defense cases. Most foreclosure attorneys don’t charge for an initial consultation.

Source: Consumer Mortgage Audit Center (09/14/2009)

-------------

Timothy S Anderson
Silver Peaks Realty
Anderson Residential and Commercial Construction Services
pH 208 390 0737
www.buytetonland.com

Foreclosure / Short Sale / REO's Teton Valley Idaho - Jackson Hole Wyoming

Most Affordable Markets Ranked

In its annual survey of most- and least-affordable housing markets, BusinessWeek quoted a number of experts who believe that for many people, the current low interest rates and low housing prices have combined to offer a once-in-a-lifetime opportunity to buy a home.

Dennis Torres, executive director of real estate operations at Pepperdine University, says, "People are going to talk about this as 'I could have, I should have' for decades," he said. "If you're confident that you'll stay in the location for seven years and you're confident of your income, don't walk, run."To calculate the most- and least-affordable areas, BusinessWeek considered the share of homes sold in the second quarter of this year that would have been affordable to a family earning the local median income.

Housing costs were calculated using new and existing sales records supplied by First American Real Estate Solutions and include principal, interest, estimated property taxes, and insurance.

Here are the 10 most-affordable areas:

1. Kokomo, Ind.
2. Lansing-East Lansing, Mich.
3. Mansfield, Ohio
4. Elkhart-Goshen, Ind.
5. Lima, Ohio
6. Bay City, Mich.
7. Indianapolis-Carmel, Ind.
8. Saginaw-Saginaw Township North, Mich.
9. Youngstown-Warren-Boardman, Ohio-Pa.
10. Canton-Massillon, Ohio

Here are the 10 that are least affordable:

1. New York-White Plains, N.Y.-Wayne, N.J.
2. San Francisco-San Mateo-Redwood City, Calif.
3. San Luis Obispo-Paso Robles, Calif.
4. Ocean City, N.J.5
. Honolulu
6. Los Angeles-Long Beach-Glendale, Calif.
7. Santa Ana-Anaheim-Irvine, Calif.
8. Santa Cruz-Watsonville, Calif.
9. Nassau-Suffolk (Long Island), N.Y.
10. Flagstaff, Ariz.Source: Business Week, Prashant Gopal (09/11/2009)

Foreclosure / Short Sale / REO's Teton Valley Idaho - Jackson Hole Wyoming

Why it's time to invest in real estate
It's scary to jump into the housing market when prices have been plunging. But waiting could end up costing you.
[Related content: homes, home buying, home prices, foreclosure, interest rates]
By James B. Stewart, SmartMoney
Passing through the Fort Myers, Fla., airport a few weeks ago, I noticed people eagerly signing up for a free bus tour of foreclosed real estate -- with all properties offering water views. During the ride to my hotel, the young driver volunteered that he'd just bought his first house, paying $65,000 for a foreclosed property in nearby Cape Coral that had last sold for more than $250,000. He said he'd never expected to be able to buy anything on a driver's salary, let alone something that nice.

Learn more about the homebuyer credit
Late last month, Standard & Poor's reported that its S&P/Case-Shiller U.S. National Home Price index of real-estate values increased this past quarter over the first quarter of 2009, the first quarter-on-quarter increase in three years. Its index of 20 major cities also rose for the three months ended June 30 over the three months ended May 31, with only hard-hit Detroit and Las Vegas experiencing declines. The week before that, the National Association of Realtors reported that sales volume of existing homes was up 7.2% in July from June.
In short, the data suggest that real-estate prices hit a bottom some time during the second quarter and have now begun to rise. There's no way to be certain that this marks the end of the long, painful correction that followed the real-estate bubble, but clearly prices are no longer in free fall.

That means if you've been sitting on the fence, it's time to act.
Trying to buy at a bottom Ordinarily I'd never try to time the real-estate market, but I can understand why buyers have been cautious. Few want to buy in down markets, just as stock buyers avoid bear markets. And for most people, of course, buying a house is a much bigger decision than buying a stock.

More from MSN Money and SmartMoney
6 money lessons of the Great Recession
5 strategies to lower your rent now
New bull, new bubble, new meltdown?
Return of the first-time homebuyers
Tax credit lifts housing market
Is an FHA-insured mortgage right for you?

But with real-estate prices nationally now down about 30% from their 2006 peak and showing signs of turning up, the prices aren't likely to go much lower. Every real-estate market is local, and so there may be a few exceptions. Overall, though, I can't imagine a better time to buy than right now.

Video: Housing's magic number

In addition to bargain prices, buyers should find plenty of homes to choose from. The inventory of unsold homes was 4.09 million units in July, up 7.3% from June, according to the National Association of Realtors. And mortgage rates this week were at a two-month low of close to 5%.


Even the stricter appraisal process is working to the advantage of buyers. Appraisals are coming in far lower than most sellers have been expecting, forcing them to face the new reality of sharply lower prices. And with stricter standards, lenders aren't going to let buyers borrow more than they can afford, which protects buyers and helps to keep prices down.
The flipping days are over Unless you're really prepared to accept the demands (and headaches) of being a landlord, I don't recommend direct ownership of real estate as an investment. The days of buyers lining up to buy and flip Miami Beach and Las Vegas condos are mercifully gone.

There are much easier ways to make money in real estate, such as buying into real-estate investment trusts or buying shares in homebuilders and other housing-related businesses, such as Home Depot (HD, news, msgs).

Historically, the mean rate of return on real estate has been around 3%, according to research from Yale economist Robert Shiller, who co-developed the Case-Shiller index. Shares in REITs and other stocks have often done much better.

But there's a good reason homeownership has been such a central part of the American dream. It delivers security, pride of ownership, a sense of community and decent investment returns as a bonus.

I felt glad for my driver in Florida. He represents the other side of the foreclosure crisis. For every hardship story, and no doubt there are many, others are realizing their dreams of homeownership and getting what may well turn out to be the deals of their lives.

--------------------------

Timothy S Anderson
Silver Peaks Realty
Anderson Residential and Commercial Construction Services
pH 208 390 0737
www.buytetonland.com

Foreclosure / Short Sale / REO's Teton Valey Idaho - Jackson Hole Wyoming

Rates look to be coming down again. After hanging around the 5.25% range, we are back to 5%.
Also, don’t forget time is running out for the $8,000 first-time homebuyer tax credit. The transaction must be closed by November 30, 2009 for the buyer to be eligible.
I have also included a new rate for a 5/1 ARM with 20% down.

Bank of Idaho Rates for September 11, 2009:

30 Year Fixed – Up to $417,000 (20% Down)
5.00%

15 Year Fixed
4.375%

5/1 ARM – Up to $417,000 (20% Down)
3.875%

FHA – Up to $417,000 (mimimum 3.5% down)
5.00%

RD– 100% loan, no money down
5.50%

Idaho Housing and Finance Association (IHFA)
4.97%

NO ORIGINATION FEE ON RD LOAN WITH TODAY’S RATES!!!
Rates are based on certain assumptions, and are subject to change.

Just a reminder that I will only send rates out as they change. If you have any questions on any of the rates or need information on a rate that is not listed, please let me know.

Thank you,

Jared Colson
Bank of Idaho Mortgage

--------------------------

Timothy S Anderson
Silver Peaks Realty
Anderson Residential and Commercial Construction Services
pH 208 390 0737
www.buytetonland.com

Foreclosures / Short Sales / REO's Teton Valley Idaho - Jackson Hole Wyoming

Many Experts Support Extending Tax Credit

Real estate professionals and home builders are pushing for an extension and an increase in tax incentives to encourage homebuying. Otherwise, they argue, that it is very likely that the current housing uptick will end on Dec. 1, when the tax credit does.

“The giddiness we see out there [about a recovery] is without merit," says Richard A. Smith, CEO of Realogy, which is the parent company of Century 21, ERA, Coldwell Banker, and Sotheby's International Realty.Not everybody sees things Smith’s way. Michelle Meyer, an economist with Barclays Capital in New York, says that while the tax credit did contribute to an increase in sales, some of the improvement reflects an improving economy.

“Even if you say some of the gain is artificial, it's still true that we're seeing an increase in housing demand, and that shows fundamental strength," she says.Mark M. Zandi, chief economist at Moody's Economy.com, ignores this chicken-or-egg argument and points to an analysis he did that suggests increasing the tax credit to $15,000 for all home owners through the end of next year would result in 675,000 additional home sales.

------------------

Timothy Anderson
Silver Peaks Realty
Anderson Residential and Commercial Construction Services
pH 208 390 0737
www.buytetonland.com

Foreclosures / Short Sales / REO's Teton Valley Idaho - Jackson Hole Wyoming

Buyers Remain Largely in the Driver's Seat

Homebuyers continue to drive hard bargains, holding down prices while allowing properties to sit on the market for an increasing length of time, according to Zillow.com’s market report. Nationwide, buyers paid 3.3 percent, or nearly $7,039, less than the last listing price on homes for sale during the month of July.

That is a slight improvement over June, when the discount was 3.5 percent and significantly less than the 4.6 percent discount in January.Meanwhile, 22.8 percent of all homes listed for sale on Zillow had at least one listing price reduction as of Sept. 1.

The median U.S. price reduction was 6.5 percent off the original listing price. Homes listed for sale on Zillow during August were listed for a median 96 days, up from 91 in July.Florida homebuyers got the best deals with buyers in the Vero Beach area, paying 10.2 percent, or a median $23,500, less than the last listing prices. Other Florida cities with a percentage of discount in the top 25 nationally were Naples, Daytona Beach, Miami-Fort Lauderdale, Panama City, Punta Gorda, Melbourne, Ocala, Tampa, Jacksonville, Port St. Lucie, Gainesville, and Lakeland.

In California, the situation is swinging in the other direction. In El Centro, Calif., buyers paid 1.8 percent, or a median of $2,150, more than the listing price. In seven California markets – Sacramento, Merced, Modesto, Riverside, Stockton, Yuba City and Fresno – asking price and sale price were the same.

Zillow’s top 10 markets for negotiating discounts were:

Vero Beach, Fla., -10.2 percent from the last listing price
Sarasota, Fla., -8.2 percent
Atlantic City, N.J., -8 percent
Naples, Fla., -7.8 percent
Daytona Beach, Fla., -7.5 percent
Miami-Ft. Lauderdale, Fla., -7.5 percent
Panama City, Fla., -7.1 percent
Punta Gorda, Fla., -7 percent
Melbourne, Fla., -6.6 percent
Detroit, Mich., -6.5 percent

----------------------

Timothy S Anderson / Silver Peaks Realty
pH 208 390 0737
www.buytetonland.com

Foreclosure / Short Sales / REO's Teton Valley Idaho - Jackson Hole Wyoming

Mortgage Applications Rise as Rates Fall

Mortgage rates declined last week, triggering a dramatic jump in mortgage applications. The Mortgage Bankers Association reported that its weekly index of mortgage application volume rose 17 percent on a seasonally adjusted basis compared to the previous week.
On an unadjusted basis, the index increased 15.8 percent and was up a whopping 64.5 percent compared to the same week a year ago.Much of the increase was in refinances, with the refinance index increasing 22.5 percent, the biggest jump since March. The purchase index rose 9.5 percent, which was the largest gain since early April.

Mortgage rates were down across the board:

30-year fixed-rate mortgages decreased to 5.02 percent from 5.15 percent.
15-year fixed-rate mortgages decreased to 4.45 percent from 4.57 percent.
1-year ARMs decreased to 6.69 percent from 6.71 percent.

Foreclosures / Short Sales / REO's Teton Valley Idaho - Jackson Hole Wyoming

Condo Purchases Require Extra Steps

Homebuyers contemplating purchasing a condominium should review a long list of documents and other information to make sure that the property they are considering is a solid buy in this challenging market.

The following information is a the top of the must-consider list:
Budget. Examine the current budget, a year-to-date statement of income and expenses, and a couple of previous years’ budgets to see how they’ve changed.
Reserve study. Understand the plan for maintenance and how it will be paid for.
Special assessments. Ask if there have been any and whether more are planned.
Delinquencies.

How many owners are behind in their payments? Many lenders say no more than 15 percent of owners can be in arrears or they won’t write mortgages in the complex.

------------------

Timothy S Anderson
Silver Peaks Realty
pH 208 390 0737
pH 208 390 0737

Short Sale Specialist / Foreclosure / REO's Teton Valley Idaho - Jackson Hole Wyoming

Sellers Offer Overnight Trial Stays

Luxury second-home communities are increasingly offering “try-before-you-buy” weekends to potential customers, including the opportunity to play a round of golf, use the dining facilities and other amenities – plus take a mandatory tour.

St. John Fisher College professor Kyle F. Reinson, a real estate specialist and consultant for residential developers, says these tours work in part because they require a certain level of commitment on the part of both the buyer and the seller.

The buyer, he says, often gets a good price because the seller doesn’t want to let him get away.At Encaterra in Queen Creek, Ariz., four-day, weekend tours that cost the potential buyer $299 for an all-inclusive package, results in 25 percent sales, the club reports.

Foreclosure / Short Sale / REO's Teton Valley Idaho - Jackson Hole Wyoming

Fed Chair Says the Worst Is Over

Federal Reserve Chair Ben Bernanke said on Friday that he was optimistic the economy is about to take off. Bernanke acknowledged that credit is still tight, especially for businesses, but he told an audience of bankers, academics, and economists that the worst is over.

"Although we have avoided the worst, difficult challenges still lie ahead," Bernanke said. "We must work together to build on the gains already made to secure a sustained economic recovery."Bernanke called for stronger regulation of financial rules "to ensure that the enormous costs of the past two years will not be borne again."Source: The Associated Press, Jeannine Aversa (08/21/2009)

Foreclosure / Short Sale / REO's Teton Valley Idaho - Jackson Hole Wyoming

Strong Gain in Existing-Home Sales

For the first time in five years, existing-home sales have increased for four months in a row, according to the National Association of REALTORS®.Existing-home sales – including single-family, townhomes, condominiums and co-ops – rose 7.2 percent to a seasonally adjusted annual rate of 5.24 million units in July from a level of 4.89 million in June. Sales are 5.0 percent above the 4.99 million-unit pace in July 2008. The last time sales rose for four consecutive months was in June 2004, and the last time sales were higher than a year earlier was November 2005.Largest Gain in a DecadeLawrence Yun, NAR chief economist, said he is encouraged.

“The housing market has decisively turned for the better. A combination of first-time buyers taking advantage of the housing stimulus tax credit and greatly improved affordability conditions are contributing to higher sales,” he said. The monthly sales gain was the largest on record for the total existing-home sales series dating back to 1999.“Because price-to-income ratios have fallen below historical trends, there are more all-cash offers. In some recovering markets like San Diego, Las Vegas, Phoenix, and Orlando, the demand for foreclosed and lower-priced homes has spiked, and a lack of inventory is becoming a common complaint,” Yun said.According to Freddie Mac, the national average commitment rate for a 30-year, conventional, fixed-rate mortgage fell to 5.22 percent in July from 5.42 percent in June. The rate was 6.43 percent in July 2008."

First-Time Buyer Tax Credit is Working"An NAR practitioner survey showed first-time buyers purchased 30 percent of homes in July, and that distressed homes accounted for 31 percent of transactions. NAR President Charles McMillan said the first-time buyer tax credit is working. “In addition to first-time buyers, we’re also seeing increased activity by repeat buyers. While many entry-level buyers are focused on the discounted prices of distressed homes, they’re also freeing some existing owners to sell and make a move,” he said. “Realtors are the best resource for consumers in these changing market conditions because the transaction process has become more complex.

Since it’s now taking longer to complete a home sale, first-time buyers who want to take advantage of the $8,000 tax credit should try to make contract offers by the end of September,” McMillan said. “Otherwise, they may miss the November 30 closing deadline.”Inventory Up, Prices DownTotal housing inventory at the end of July rose 7.3 percent to 4.09 million existing homes available for sale, which represents a 9.4-month supply at the current sales pace, which was unchanged from June because of the strong sales gain. Raw inventory totals are 10.6 percent lower than a year ago when the number of unsold homes was at a record. The national median existing-home price for all housing types was $178,400 in July, which is 15.1 percent lower than July 2008.

Distressed properties continue to weigh down the median price because they typically sell for 15 to 20 percent less than traditional homes.Single-Family Homes and CondosSingle-family home sales increased 6.5 percent to a seasonally adjusted annual rate of 4.61 million in July from a pace of 4.33 million in June, and are 5.0 percent higher than the 4.39 million-unit level in July 2008. The median existing single-family home price was $178,300 in July, which is 14.6 percent below a year ago.Existing condominium and co-op sales jumped 12.5 percent to a seasonally adjusted annual rate of 630,000 units in July from 560,000 in June, and are 5.9 percent above the 595,000-unit level a year ago. The median existing condo price was $178,800 in July, down 18.9 percent from July 2008.

By Region:


The Northeast surged 13.4 percent to an annual pace of 930,000 in July, and are 3.3 percent higher than July 2008. The median price in the Northeast was $236,700, down 15.0 percent from a year ago.
Existing-home sales in the Midwest jumped 10.9 percent in July to a level of 1.22 million and are 8.0 percent above a year ago. The median price in the Midwest was $157,200, which is 5.9 percent less than July 2008.
In the South, existing-home sales rose 7.1 percent to an annual pace of 1.95 million in July and are 5.4 percent higher than July 2008. The median price in the South was $164,500, down 7.1 percent from a year ago.
Existing-home sales in the West slipped 1.7 percent to an annual rate of 1.13 million in July, but are 1.8 percent above a year ago. The median price in the West was $202,300, which is 28.0 percent below July 2008.

Foreclosure / Short Sales / REO's Teton Valley Idaho - Jackson Hole Wyoming

Average Buyers Can Afford Most Homes

Housing is remarkably affordable these days.A family earning the nation’s median income of $64,000 a year could afford to buy 72.3 percent of all homes sold in the United States during the second quarter of 2009, according to the National Association of Home Builders and Wells Fargo.Sellers are the ones who are paying the price.

More than 30 percent of all homes sold during the second quarter sold for less than the sellers paid originally, according to Zillow.com.A significant percentage of owners who bought within the past five years and sold during the quarter lost money on the deal, according to Stan Humphries, Zillow's vice president in charge of data and analytics

.[Editor's note: Although discussion of trends on a national level can be useful, conditions in a local market can be vastly different from what's happening statistically on a national level. For that reason, conditions for owners who've bought in the last five years might or might not resemble what analysts are seeing statistically on a national basis.]

Foreclosure / Short Sales / REO's Teton Valley Idaho - Jackson Hole Wyoming

Study: Americans Still Want to Be Home Owners

Despite all of the bad news in the media about homeownership and mortgages, most Americans still believe buying a home is a great investment, according to a new study commissioned by Bankrate.com.

Among the findings from the study:

92 percent say that a home is a good investment for the future.
48 percent worry about losing or being unable to afford their homes.

"These results provide an interesting illustration of the public's mindset in a difficult economy," says Julie Bandy, editor in chief at Bankrate. "While nine out of 10 still believe in the American dream of homeownership, nearly half worry about losing their homes.”

Foreclosure / Short Sales / REO's Teton Valley Idaho - Jackson Hole Wyoming

Greenspan Unsure About Recovery

Former Federal Reserve Chair Alan Greenspan said the economy seems to be improving in some areas, but he was dubious that improvement is sustainable.“I think we’re going to be OK for the next six months,” he says. "We are getting a recovery in (housing) starts and motor vehicles, but the process doesn't have legs to it."

Greenspan adds that while the decline in construction is reducing inventory, it is unlikely that the percentage of home owners will ever be as high as it was at the peak, and that will result in a reduction of the overall size of the market.

Foreclosure / Short Sale / Bank Owned REO's Teton Valley Idaho - Jackson Hole Wyoming

Commercial Market Shows Signs of Rebound

Analysts point out that competition in commercial lending is increasing on the West Coast, which they call a sign that the drought in the commercial loan business is ending.Citigroup Inc. analyst Darrell Wheeler said there was “aggressive” competition among insurance companies and foreign banks to fund office properties.

Other new lending programs include securities sales through the Federal Reserve and opportunity funds that are looking to buy debt-free assets."These disposition options would not have existed just two months back, so market conditions are changing very quickly," Wheeler wrote.He concluded that with increasing financing "valuations for these assets should quickly recover if the economy is recovering, and we now expect the number of voluntary defaults will start to drop off."

Foreclosure / Short Sale / REO's Teton Valley Idaho - Jackson Hole Wyoming

Sellers Continue to Cut Prices

Nearly 25 percent of all U.S. homes for sale on Aug. 1 had a price cut in July, according to data compiled by the real estate Web site Trulia.com.The percentage of price reductions has continued to increase month-over-month for the past three months. The total value slashed off active listings now totals $27.8 billion.

The average reduction was 10 percent from the original price. Cities showing significant increases in the percentage of listings with price cuts from June 1 to Aug. 1 were:


Fresno, Calif.: 67 percent
Colorado Springs, Colo.: 27 percent
Kansas City, Mo.: 25 percent
Oklahoma City, Okla.: 24 percent


Albuquerque, N.M.: 22 percent.Cities with significant declines in the percentage of listings with price reductions included:


Dallas: -42 percent
Las Vegas: -33 percent
Louisville, Ky.: -33 percent
Los Angeles: -19 percent
Washington, D.C.: -17 percent

Foreclosure / Short Sale / REO's Teton Valley IDaho - Jackson Hole Wyoming

Foreclosures Still Up in Sun Belt, Midwest

Foreclosure filings in July, including default notices, scheduled auctions, and bank repossessions, were up 7 percent compared to June and increased 32 percent from July 2008, according to RealtyTrac.One in every 355 U.S. housing units received a foreclosure filing in July, the third time in five months that foreclosures have reached a new high in the four years that RealTrac has been keeping records.

"Despite continued efforts by the federal government and state governments to patch together a safety net for distressed homeowners, we're seeing significant growth in both the initial notices of default and in the bank repossessions," said James J. Saccacio, CEO of RealtyTrac.For the thirty-first consecutive month, Nevada had the nation’s highest state foreclosure rate with one in every 56 housing units receiving a filing in July.

California was second with initial defaults spiking 15 percent compared to June. Other states that make up the 10 highest were: Arizona, Florida, Utah, Idaho, Georgia, Illinois, Colorado, and Oregon.

The 10 states with the highest actual foreclosures were California, Arizona, Nevada, Florida, Illinois, Texas, Georgia, Ohio, Michigan, and New Jersey.

Short Sales /Foreclosures / Bank Owned REO's Teton Valley Idaho - Jackson Hole Wyoming

Economists Pronounce the Recession Over

The majority of economists surveyed by the Wall Street Journal say the recession is over and Federal Reserve Chair Ben Bernanke deserves another term.Of the 47 economists the newspaper surveyed, 27 said the recession has ended and 11 predict another trough this month or next. The rest refused to commit. But they were nearly unanimous is saying that Bernanke should be rehired.

Gross domestic product is expected to grow 2.4 percent in the third quarter at a seasonally adjusted annual rate. Economists were also heartened by a better-than-expected jobless report in July.

Short Sales / Bank Owned REO's / Foreclosures Teton Valley Idaho - Jackson Hole Wyoming

Underwater Mortgages to Skyrocket by 2011

A new report by Deutsche Bank estimates that by 2011 nearly 50 percent of U.S. home owners with mortgages will owe more than their homes are worth. This estimate of 25 million borrowers is significantly higher than similar calculations by other economic and real estate analysts. For instance, Moody’s Economy.com projected that 17.5 million will be underwater by early 2010.

Currently, about 26 percent of home owners choose to walk away from their mortgages because their equity falls short of what they owe, according to a report by Paola Sapienza, a finance professor with Northwestern University, and Luigi Zingales, a finance professor at the University of Chicago. Their report suggests that situation could worsen if the percentage of underwater mortgage holders increases.

Not everybody agrees with Deutsche Bank’s analysis. Tom Lawler, a well-respected independent housing economist, wrote that given the recent increase in home sales in many areas, “there is absolute[ly] no doubt that the DB ‘model’ forecast will show a huge miss to the down side on home prices.”

Short Sales / Bank Owned REO's / Foreclosure Teton Valley Idaho - Jackson Hole Wyoming

EPA Investigates Chinese Drywall Claims

Home owners in Florida, as well as other parts of the country, are claiming that drywall imported from China is making them sick and corroding the plumbing and HVAC systems in their homes.

An estimated 100,000 houses in the United States, most built in 2006 and 2007, may have some of the allegedly defective drywall, which is being investigated by a plethora of government agencies, including the Environmental Protection Agency and the Centers for Disease Control.If these investigations result in a recall, it could be a costly proposition. Experts estimate that pulling out defective drywall and replacing corroded electrical wiring, plumbing and HVAC in an affected home could cost at least $100,000 per property.

Several class action lawsuits have been consolidated in federal court in New Orleans, but suing foreign-based manufacturers for liability is difficult and any judgment is almost impossible to enforce, experts say.

Teton Valley Idaho - Jackson Hole Wyoming Real Estate

REAL ESTATE ALERT !!!!!

-------------------

Just listed :

- Teton Valley West Side

- Large 100 acre parcel

- $ 9500 ac / $ 950 000

HISTORICALLY LOW PER ACRE PRICES

---------------

Sincerely - your friend and well wisher.

Timothy S Anderson
Silver Peaks Realty
Anderson Residential and Commercial Construction Services
pH 208 390 0737

Foreclosure / Short Sales / Bank Owned REO's Teton Valley Idaho - Jackson Hole Wyoming

Foreclosure Bargains Are Disappearing

Buyers of foreclosure have to be quick these days. Some houses go under contract fewer than 90 minutes after they are put on the market, says Brad Geisen, founder of Foreclosure.com."For every listing that comes out, we have 10 buyers," says Cesar Dias, an associate with Approved Real Estate Group in Stockton, Calif.Dias had 15 minutes of fame after introducing foreclosure sales tours last year.

Now the tours are defunct because there are not enough homes to show. "We had a lot of inventory last summer. Now we're down to 1,500 listings — from more than 5,000," Dias says.In Florida, real-estate investment companies, buying in bulk and paying cash, face competition.

Even in the hard-hit Detroit area, bargains are disappearing. "For a good house that's not too beat up, in a good neighborhood, there's no lack of buyers in this market," says Andy Sakmar, founder of Century 21 Sakmar in Rochester, 20 miles north of the city. "There are a lot fewer of these properties than a year ago, and the super buys get multiple offers."

Foreclosure / Short Sales / Bank Owned REO's

Inventories in Key Cities Shrinking, Broker Says

ZipRealty reports that inventories declined 2.5 percent in July compared to June in the 28 metropolitan areas it covers. Compared to July 2008, inventories declined 27 percent.Zip’s data includes properties listed on the multiple-listing services where the firm operates.

It doesn’t include New York City, where appraisal firm Miller Samuel Inc. says inventory was down 7.8 percent compared with June, but up 6.9 percent from July 2008.Research firm Zelman & Associates points out that on average in the last 25 years, inventories in July have declined 1 percent from June.

------------

Sincerely - your friend and well wisher.

Timothy S Anderson
Silver Peaks Realty
pH 208 390 0737
www.buytetonland.com



-

Short Sales / Foreclosures / Bank Owned REO's Teton Valley Idaho - Jackson Hole Wyoming

More Home Owners Underwater as Prices Fall

A report from Equifax and Moody's Economy.com shows that falling prices have left 24 percent of owner-occupied, single-family home owners with mortgage debt greater than the values of the residences. At the end of this year's second quarter, more than 16 million Americans were in this predicament, an increase from 10 million a year earlier.

Almost 5 percent of owner-occupied dwellings are saddled with mortgage debt worth 150 percent of the property value. Nevada, where 40 percent of owner-occupied homes are "upside-down," is the hardest-hit state, followed by Arizona and California.

Short Sales / Foreclosure / Bank Owned REO's Teton Valley Idaho - Jackson Hole Wyoming

Uptrend Continues in Pending Home Sales

Pending home sales are up for the fifth consecutive month, the first time in six years for such a streak, according to NAR.The Pending Home Sales Index, a forward-looking indicator based on contracts signed in June, rose 3.6 percent to 94.6 from an upwardly revised reading of 91.3 in May, and is 6.7 percent above June 2008 when it was 88.7.

The last time there were five consecutive monthly gains was in July 2003.Lawrence Yun, NAR chief economist, said a combination of positive market factors is fueling the gains. “Historically low mortgage interest rates, affordable home prices, and large selection are encouraging buyers who’ve been on the sidelines. Activity has been consistently much stronger for lower priced homes,” he said.

“Because it may take as long as two months to close on a home after signing a contract, first-time buyers must act fairly soon to take advantage of the $8,000 tax credit because they must close on the sale by November 30,” Yun said.

Here are the regional figures from the Pending Home Sales Index:

The Northeast rose 0.4 percent to 81.2 in June and is 5.8 percent above a year ago.

The Midwest increased 0.8 percent to 89.9 and is 11.6 percent above June 2008.

The index in the South jumped 7.1 percent to 100.7 in June and is 8.9 percent higher than a year ago.

In the West, the index rose 2.9 percent to 100.4 but is 0.2 percent below June 2008.

Foreclosure / Short Sales / Bank Owned REO's Teton Valley Idaho - Jackson Hole Wyoming

Former Fed Chair Says Housing Stabilizing

Former Federal Research Chair Alan Greenspan told ABC News on Sunday that he believes the economy has hit bottom and is on the way back up. “I’m short-term optimistic, but with many caveats,” the former Fed chair says.His view of housing was one of the caveats.

He said housing markets have “stabilized temporarily,” although, "it is possible that could get a second wave down. Under those conditions, we would get a very significant change in the underlying confidence in the consumer area."

Foreclosure / Short Sale Bank Owned REO's Teton Valley Idaho - Jackson Hole Wyoming

Unemployment Batters Housing Market

Foreclosure activity continued to hit Florida, California, Nevada, and other parts of the Sun Belt region in the first six months of this year. However, RealtyTrac noted in its latest report that rising unemployment is escalating the trend elsewhere in the nation as well. RealtyTrac CEO James J. Saccacio confirmed that "some of the markets that had the highest saturation of foreclosures over the past few years have seen declining rates, while new markets like Provo, Utah, and Boise, Idaho, have seen large increases."

Established foreclosure hubs, including Las Vegas and Orlando, may actually be experiencing some improvement as deep price discounts and first-time home buyer tax credits draw more people into the market. The shift from a foreclosure crisis driven by risky loan underwriting to one based on job losses and salary cuts, meanwhile, has increased activity in states like Oregon, Arkansas, Illinois, and South Carolina that previously were relatively insulated.

"As unemployment rates increase in different parts of the country, it's very likely that we'll see similar patterns develop elsewhere," says Saccacio.

Foreclosure / Short Sales / REO's Teton Valley Idaho - Jackson Hole Wyoming

Don't Abandon Underwater Mortgages

David Bach, author of The Automatic Millionaire Homeowner: A Lifetime Plan to Finish Rich in Real Estate, pooh-poohs the notion that it makes any sense at all to walk away from a property that is underwater.In an interview with the AOL.com personal finance Web site, Walletpop.com,

Bach said about 50 percent of homes in foreclosure are there because their owners walked away from underwater real estate. He calls that “stupid, short-term thinking” and recalls a condo he bought in New York City in 2003. He put down $600,000, then property values dropped and he lost all his equity. “I was bummed,” he said.

But the loss wasn’t permanent. Four years later he sold the condo for $3.65 million – and made a $1.5 million profit, after commissions and taxes.Some people might have thought it was “logical” to walk away, he said. “But it would have cost me $1.5 million.”

Foreclosure / Short Sales / Bank Owned REO's Teton Valley Idaho - Jackson Hole Wyoming

New Home Sales Rise

Sales of newly built single-family homes rose 11 percent in June to an annualized rate of 384,000, according to a report released Monday by the U.S. Department of Housing and Urban Development.Analysts called the report a good sign.

"That is really good news,” said Peter Morici, an economics professor at the University of Maryland. “With all the foreclosure activity sending down home prices, for new homes to jump like that is a good indicator that the economy is bottoming out."Pat Newport, a housing industry analyst for IHS Global Insight, also applauded the report.

"The tax credit is boosting demand, but what will happen when it goes away in December?" he asked.

Excess inventory still exists in some key markets:

California
Florida
Las Vegas
Arizona

But overall, business is better. "The time for getting deals is going away." Markstein said.

Foreclosure / Short Sales / Bank Owned REO's Teton Valley Idaho - Jackson Hole Wyoming

Positive Signs in West Point to U.S. Recovery

If you were drawing a real estate market trend line, you’d start in the west and go east, according to real estate commentator Marc Roth of Business Week.Roth says the decline in the real estate market began in the West in 2007 with a 20 percent drop in transactions. The South, Midwest, and Northeast had milder declines of 13 percent, 11 percent, and 7 percent respectively that year.

In 2008, the South, Midwest, and Northeast were dropping 15 percent to 16 percent, with the West down only 1 percent, he pointed out.Today, in mid-2009, the number of properties sold in the West is up 7 percent, while declines in the other regions have shrunk to between 3.5 percent and 7 percent.Roth argues that since industry trends have historically moved from the west to the northeast, these numbers are evidence that the housing decline is about to be history in nearly every part of the country.

Roth, who is president of Home Warranty of America, says, “I am putting my money where my opinions rest. … I believe these trends send a strong enough signal that I am adding staff to both my sales force and call center.”

Foreclosures / Short Sales / Bank Owned REO's Teton Valley Idaho - Jackson Hole Wyoming

When Will the Housing Market Rebound?

When will the housing slump finally end? Even the experts' crystal balls are hazy.The Wall Street Journal, which Thursday reported its latest quarterly survey of housing data, says it depends on which city or part of the country you’re talking about.

Home sales were up compared to last year in Washington, D.C., and Northern Virginia, Orlando, Minneapolis, Southern California, and the San Francisco Bay area, according to findings from research firm MDA DataQuick as well as reports from local real estate practitioner organizations. Sales declined in New York City and nearby Long Island, Chicago, and Charlotte, N.C., and the outlook was particularly bleak in Miami-Fort Lauderdale and much of Florida, Detroit, and Las Vegas.

But Jody Kahn, an analyst at John Burns Real Estate Consulting, a research organization, points out that there are variations even in the hardest-hit metro areas with the most attractive neighborhoods continuing to thrive.Employment is the most telling factor, says Mark Zandi, chief economist at Moody's Economy.com. "If people don't have jobs or fear losing their jobs, then buying homes is out of the question," he says.