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

Sales of existing homes rose in September, but prices continued to drop, according to the latest reading on the battered housing market by the National Association of Realtors. The report shows sales by homeowners jumped in September to an annual pace of 5.18 million, up 1.4% from a year ago. It was the first time that sales rose compared to a year earlier since November 2005.

Sales got a boost last month because prices continued to fall. The median price of a single-family home fell 8.6% from a year ago to $190,600. The median price of all homes sold during the month – including single-family homes, townhomes, condominiums and co-ops – fell to $191,600, down 8.8% from $210,500 a year ago. Before the start of the current housing slump, it had been 11 years since prices fell compared to a year earlier. Experts say foreclosed properties are driving this sales jump.

The report offered some encouraging news, with the excess supply of homes on the market falling in September. Realtors estimated that there are now 4.3 million homes available for sale, which represents a 9.9 month supply. That is down from the 10.6-month supply in August. But that number could rise back above 11 months if sales begin to sink again and foreclosures continue to escalate.

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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