According to analysis of recent Zillow Real Estate Market Reports, U.S. homes lost $489 billion in value during the first 11 months of 2009, significantly less than the $3.6 trillion lost during 2008. Furthermore, 48 of the 154 markets tracked by Zillow, or nearly one in three, showed gains in home values during 2009.

The stabilization in home values reduced rates of negative equity in the third quarter of the year. Twenty-one percent of single-family homeowners had mortgages underwater, or greater than the value of their homes, compared with 23 percent in the second quarter.

Negative equity has been one of the biggest banes of homeowners, making many unqualified for home loan refinancing and preventing some from selling. Borrowers with negative equity are more prone to defaults and foreclosures.

Sales have surged in recent months as buyers scrambled to take advantage of the government's first-time home buyer tax credit, which was originally set to end November 30. Last month the Obama administration extended the $8,000 first-time home buyer tax credit, added a $6,500 credit for home owners buying a new residence and increased income limits. Eligible borrowers must sign contracts by April 30 and close loans by June 30.

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Best Buyer’s Broker Realty is an Exclusive Buyer Agent specializing in Long Island real estate (Nassau and Suffolk properties) and neighboring Queens County properties.

We don’t take any seller listings (yet we have more homes for you to see than most agents) and never have any potential conflict of interest like other agents who also represent sellers. We represent buyers only, 100% of the time. We can show you more homes for sale because we have access to MLS, FSBOs, Exclusives (homes that agents try to keep secret), foreclosures and homes not on the market that may be of interest to you.

We are not your traditional real estate agent. Our goal is to advise and protect home buyers and help them obtain the lowest price and best terms on their dream home. Call us at 516-887-6901 to see how we can help you save time and money. Or visit our sites at http://bestbuyersbroker.com or http://bestbuyerbroker.com.

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A rash of positive housing data has given some analysts hope that the housing market has bottomed and an economic recovery is underway. But the soaring unemployment and rising mortgage rates could lead to a double-dip plunge for the housing market.

Home prices rose on a monthly basis in May for the first time in nearly three years, according to the Standard & Poor’s Case-Shiller Home Price Index. The improvement in the Case-Shiller index followed the release of several equally optimistic government reports that showed increases in home sales and housing starts, and a decline in inventories.

Home construction unexpectedly rose in June as well. Housing starts increased 3.6% from May to a seasonally adjusted 582,000 annual rate. And even while more houses were built in June, the number of available homes on the market went down.

The federal government’s effort to lower the cost of borrowing has been a big reason why the housing market has been able to stabilize over the past few months.

Mortgage rates fell to a record low 4.78% twice in April after the Federal Reserve announced its plan to scoff up mortgage backed securities. That led to a surge in mortgage and refinancing applications. But now it appears the Fed’s effort to reduce borrowing costs is losing momentum.

Higher mortgage rates aren’t the only thing daunting potential homebuyers either. Soaring unemployment also poses a threat to the housing market by eroding disposable income and consumer confidence.

The gains made in the housing market have been encouraging to many analysts and investors. But with Americans facing heavy job losses and higher mortgage rates, it’s hard to imagine how they will be sustained.

Only time will tell, of course, and as with every recession before this one, no one will know exactly where the bottom is until it’s too late, and we’re all looking back and recognizing that the bottom passed months ago.

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Best Buyer’s Broker Realty is an Exclusive Buyer Agent specializing in Long Island real estate (Nassau and Suffolk properties) and neighboring Queens County properties.

We don’t take any seller listings (yet we have more homes for you to see than most agents) and never have any potential conflict of interest like other agents who also represent sellers. We represent buyers only, 100% of the time. We can show you more homes for sale because we have access to MLS, FSBOs, Exclusives (homes that agents try to keep secret), foreclosures and homes not on the market that may be of interest to you.

We are not your traditional real estate agent. Our goal is to advise and protect home buyers and help them obtain the lowest price and best terms on their dream home. Call us at 516-887-6901 to see how we can help you save time and money. Or visit our sites at www.bestbuyerbroker.com or www.bestbuyersbroker.com

With the U.S. economy and financial markets showing some signs of life, optimistic analysts are looking for a recovery in the all-important housing sector. They got some ammunition recently from the National Association of Realtors (NAR), which said that its Pending Home Sales Index jumped in April by the most in more than seven years.

But housing can’t revive as long as the market is being flooded with homes that are falling into foreclosure. And far from going away, the problem is broadening.

It’s not just about subprime anymore. Now, people with excellent credit who never dreamed of getting in financial trouble are being dragged down by a dangerous cycle of rising unemployment and falling home prices. That is likely going to prolong the foreclosure crisis and, inevitably, inhibit the recovery of the rest of the economy.

The biggest factor in this second wave of foreclosures is the inability of distressed homeowners to sell in order to pay off their debts. According to research by the NAR, there are enough $750,000-plus homes on the market to cover more than 40 months’ worth of demand at the current rate of sales. That’s four times the rate of oversupply in the housing market as a whole.

Many economists and researchers believe that even if foreclosures don’t rise, the rate is already so high that it will put considerable pressure on the national housing market for at least two more years.

While forecasts differ in detail, the clear message is that foreclosure is going upscale. This means the housing bust won’t end anytime soon, and is affecting people who never thought it would.

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Best Buyer’s Broker Realty is an Exclusive Buyer Agent specializing in Long Island real estate (Nassau and Suffolk properties) and neighboring Queens County properties.

We don’t take any seller listings (yet we have more homes for you to see than most agents) and never have any potential conflict of interest like other agents who also represent sellers. We represent buyers only, 100% of the time. We can show you more homes for sale because we have access to MLS, FSBOs, Exclusives (homes that agents try to keep secret), foreclosures and homes not on the market that may be of interest to you.

We are not your traditional real estate agent. Our goal is to advise and protect home buyers and help them obtain the lowest price and best terms on their dream home. Call us at 516-887-6901 to see how we can help you save time and money. Or visit our sites at www.bestbuyerbroker.com or www.bestbuyersbroker.com

The number of people who were late making their mortgage payments shot up 53 percent in the fourth quarter of 2008 from the same period in 2007, according to data provided by TransUnion LLC.

The credit reporting agency said its database shows delinquencies — or the percentage of mortgage holders at least 60 days behind on payments, considered a precursor to foreclosure — jumped to 4.58 percent nationally, from 2.99 percent for the 2007 fourth quarter.

That was 16 percent above the 3.96 percent rate seen in the third quarter, TransUnion said, and marked the eighth straight quarter that deliquency rates rose.

Senior consultant for TransUnion’s financial services group, Keith Carson say, “While the government has launched efforts to stem foreclosures, those moves are not yet reflected in data. Banks are also trying to work with consumers to reduce problematic mortgages, but falling home prices are feeding the problem,” he said. “We do know from everything we’ve found out in the last year is that the primary driver on mortgage defaults is negative equity,” he said. When homeowners owe more on their mortgages than the houses are worth, data show a higher likelihood that consumers will simply walk away,” he said.

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Best Buyer’s Broker Realty is an Exclusive Buyer Agent specializing in Long Island real estate (Nassau and Suffolk properties) and neighboring Queens County properties.

We don’t take any seller listings (yet we have more homes for you to see than most agents) and never have any potential conflict of interest like other agents who also represent sellers. We represent buyers only, 100% of the time. We can show you more homes for sale because we have access to MLS, FSBOs, Exclusives (homes that agents try to keep secret), foreclosures and homes not on the market that may be of interest to you.

We are not your traditional real estate agent. Our goal is to advise and protect home buyers and help them obtain the lowest price and best terms on their dream home. Call us at 516-887-6901 to see how we can help you save time and money. Or visit our sites at www.bestbuyerbroker.com or www.bestbuyersbroker.com

Since 2007, millions of Americans have seen untold fortunes and dreams lost as a result of questionable lending and borrowing practices. Countless millions more honest, law-abiding Americans have become sideline victims as they try to sell their home for legitimate reasons only to find their home’s value has dropped precipitously. Despite this, the majority of focus on assistance has been to directly benefit those that participated in the questionable practices.

America was founded on the principles that government is of the people, by the people, and for the people. Granted, the government has taken drastic steps in the last six months to assist with the recovery of the housing market, but much more needs to be done.

As defined by Investopedia, “supply and demand is perhaps one of the most fundamental concepts of economics and it is the backbone of a market economy.”

Now, believe it or not, there is a website asking everyone to take their homes off the market.

The site’s creators say, “There are other fundamental issues with our economy, but the housing market led us into this recession and the housing market will lead us out. It just won’t be solely at the hands of the government, it will be to some degree at the hands of the American people. There are just too many homes for sale on the market. If we can get Americans to pull their homes for sale off the market then we immediately alter the supply side of the model.”

If everyone does as this site is asking, there won’t be much for homebuyers to look at starting July 4th.

Homeowners with their homes for sale are encouraged to visit The Great American Housing Recovery to register and show support by making a commitment to take their home off the market for 90 days (and ideally 180 days) on July 4, 2009.

Do you think this can work? Do you think everyone taking their homes off the market for 90 days can help our economy get back on track? We’d love to hear your comments on this idea. Leave your thoughts by clicking the link below. Your email address never gets published with your comments.

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Best Buyer’s Broker Realty is an Exclusive Buyer Agent specializing in Long Island real estate (Nassau and Suffolk properties) and neighboring Queens County properties.

We don’t take any seller listings (yet we have more homes for you to see than most agents) and never have any potential conflict of interest like other agents who also represent sellers. We represent buyers only, 100% of the time. We can show you more homes for sale because we have access to MLS, FSBOs, Exclusives (homes that agents try to keep secret), foreclosures and homes not on the market that may be of interest to you.

We are not your traditional real estate agent. Our goal is to advise and protect home buyers and help them obtain the lowest price and best terms on their dream home. Call us at 516-887-6901 to see how we can help you save time and money. Or visit our sites at www.bestbuyerbroker.com or www.bestbuyersbroker.com

Is anyone out there besides us sick of all the government bailouts? Everyone and their brother seems to be getting in line to ask the government to “bail them out.”

As the printing presses for the bailouts run at full speed, those in power are no longer even pretending that the new giveaways will fix our problems. Now that we are used to rewarding failure with taxpayer-funded bailouts, we are being told that this is “just a start,” more funds will inevitably be needed for more industries, and that things would be much worse had we done nothing.

The updated total bailout commitments add up to over $8 trillion now, and is anyone really thinking it will stop there?

HELLO!!!

The brutal truth that no one in Washington dares acknowledge is that our economic problems can only be solved by a reduction in consumer borrowing and an increase in savings.

What do you think? Leave your comments below.

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Best Buyer’s Broker Realty is an Exclusive Buyer Agent specializing in Long Island real estate (Nassau and Suffolk properties) and neighboring Queens County properties.

We don’t take any seller listings (yet we have more homes for you to see than most agents) and never have any potential conflict of interest like other agents who also represent sellers. We represent buyers only, 100% of the time. We can show you more homes for sale because we have access to MLS, FSBOs, Exclusives (homes that agents try to keep secret), foreclosures and homes not on the market that may be of interest to you.

We are not your traditional real estate agent. Our goal is to advise and protect home buyers and help them obtain the lowest price and best terms on their dream home. Call us at 516-887-6901 to see how we can help you save time and money. Or visit our sites at www.bestbuyerbroker.com or www.bestbuyersbroker.com

During his campaign for the presidency, Barack Obama explained where he stands on many of the economic issues that matter most to Americans.

On foreclosures, Obama wants the government to step in to help homeowners facing foreclosure.

– Allow troubled homeowners to refinance to a loan insured by the Federal Housing Administration.

– Require any financial institution participating in Treasury’s Troubled Asset Relief Program to put a 90-day moratorium on foreclosures for homeowners “acting in good faith.”

– Create a 10% tax credit for homeowners who do not itemize their taxes.

– Create a $10 billion fund to help victims of predatory loans.

– Authorize bankruptcy judges to reduce mortgage principal.

“…If the government can bail out investment banks on Wall Street, then we can extend a hand to folks who are struggling on Main Street.” — Obama*

What do you think? Can the new President-Elect deliver on these campaign promises? We’d love to hear your opinion.

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Best Buyer’s Broker Realty is an Exclusive Buyer Agent specializing in Long Island real estate (Nassau and Suffolk properties) and neighboring Queens County properties.

We don’t take any seller listings (yet we have more homes for you to see than most agents) and never have any potential conflict of interest like other agents who also represent sellers. We represent buyers only, 100% of the time. We can show you more homes for sale because we have access to MLS, FSBOs, Exclusives (homes that agents try to keep secret), foreclosures and homes not on the market that may be of interest to you.

We are not your traditional real estate agent. Our goal is to advise and protect home buyers and help them obtain the lowest price and best terms on their dream home. Call us at 516-887-6901 to see how we can help you save time and money. Or visit our sites at www.bestbuyerbroker.com or www.bestbuyersbroker.com

Housing is at the root of the financial crisis, and preventing foreclosures could bring a double-barreled benefit. It would allow families to remain in their homes and could also help keep the housing market from spiraling out of control. The more foreclosed homes that get dumped on the market, the more home prices will fall. The idea of helping Main Street has an undeniable appeal.

Given all the other imperfect emergency measures that the U.S. government has taken in recent weeks, it can certainly do more to stem foreclosures than it has. The Treasury Department’s $700 billion bailout fund, as it’s now structured, may spend almost nothing on troubled mortgages.

There are two separate groups of people who are at risk of foreclosure, and they often get muddled in any discussion of the housing crisis.

The first group is made up of people who, for whatever reason, will not be able to make their monthly payments. Some took out mortgages with initial monthly payments that they couldn’t afford. Others took out adjustable-rate mortgages whose monthly payments have ballooned to an unaffordable level. Still others have lost their jobs.

The second group is quite different. It is made up of people who are at risk of foreclosure not because they won’t be able to keep up with their monthly payments – but because they may decide they don’t want to continue making them. These are the homeowners who are “under water,” which is to say their houses have lost so much value that they’re now worth less than the underlying mortgage.

In recent weeks, several intriguing ideas for helping homeowners have begun making the rounds. So who should be rescued? Tell us what you think.

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Best Buyer’s Broker Realty is an Exclusive Buyer Agent specializing in Long Island real estate (Nassau and Suffolk properties) and neighboring Queens County properties.

We don’t take any seller listings (yet we have more homes for you to see than most agents) and never have any potential conflict of interest like other agents who also represent sellers. We represent buyers only, 100% of the time. We can show you more homes for sale because we have access to MLS, FSBOs, Exclusives (homes that agents try to keep secret), foreclosures and homes not on the market that may be of interest to you.

We are not your traditional real estate agent. Our goal is to advise and protect home buyers and help them obtain the lowest price and best terms on their dream home. Call us at 516-887-6901 to see how we can help you save time and money. Or visit our sites at www.bestbuyerbroker.com or www.bestbuyersbroker.com

Many experts consider the bailout a short-term solution, but in the long-term, you could be paying for it in a least three different ways. Money Editor, Stacy Johnson, explains… (video runs 1:21)

So what do you think? Think we’re all going to be paying for this bailout in even more ways? We’d love to hear your opinion.

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Best Buyer’s Broker Realty is an Exclusive Buyer Agent specializing in Long Island real estate (Nassau and Suffolk properties) and neighboring Queens County properties.

We don’t take any seller listings (yet we have more homes for you to see than most agents) and never have any potential conflict of interest like other agents who also represent sellers. We represent buyers only, 100% of the time. We can show you more homes for sale because we have access to MLS, FSBOs, Exclusives (homes that agents try to keep secret), foreclosures and homes not on the market that may be of interest to you.

We are not your traditional real estate agent. Our goal is to advise and protect home buyers and help them obtain the lowest price and best terms on their dream home. Call us at 516-887-6901 to see how we can help you save time and money. Or visit our sites at www.bestbuyersbroker.com or www.bestbuyerbroker.com

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