Comments on: Realtors

By: Tom Dampsy

Tom Dampsy — Tue, 27 Jan 2009 11:10:57 +0000

I am a REALTOR & I will have a great year. I will help people that need to sell or buy…that is what we do help.

The Law of supply & demand dictates our market.

The persistent press dictates peoples atitiude.

The auto industry will build 20 million cars this year for a market that will only sell 8-10 million.
That’s a buyers market!

By: Shawn

Shawn — Tue, 27 Jan 2009 02:31:51 +0000

Its a tough start to the week in the US

http://money.cnn.com/2009/01/26/news/economy/job_cuts/index.htm

Bloody Monday: Over 71,400 jobs lost
Seven companies announce massive job cuts in a scary start to the week.

They list each corporation laying off in the USA in 2009, and the tally to date. Trying to search for an industry type pattern buts it is broad based ie retail, finance, telecom, pharmceuticals, aerospace. Guess the real challenge is to find a group not representated on here.

Pepto Bismo anyone? (At least Proctor and Gamble dodged this weeks list)

By: Denis

Denis — Mon, 26 Jan 2009 23:25:29 +0000

Why is every analysis constantly making comparisons to only last year’s (pie in the sky) real estate values ???

Realistic real estate values should be compared to values from years that reflected reality. By this I mean values based on a fair and reasonable price to have a roof over your head based on income. Taking out speculative percentages – fueled by greed and compounded by instant gratification desires for unecessary “today’s style” luxury nonsense – gives a much better picture of the true value of a home. For that go back at least 5 years or more.

Denis

By: Leasa

Leasa — Mon, 26 Jan 2009 20:58:47 +0000

133 Joren on 01.25.09 at 11:01 pm Don A.
Consider yourself lucky.
Stick with renting.
There was an article in the paper this weekend about how bad EI is these days and not covering very many people for very long. What happens to all the homeowners who are being laid off/terminated when their 15 weeks of EI come to an end?

Joren, where did you get the 15 weeks from? If someone is laid off and they have worked 900 hours during the last year of employment, they will get I believe, at least 8 months of EI. If at the end of their EI cycle, they enter into a training program, their EI is extended for the duration of the program and a few weeks after.

I would never tell someone to ‘stick with renting’. Renting to me is like flushing away money. You pay someone’s mortgage (plus profit)for them and years of renting gets you what? Certainly no equity. If housing prices are down (haven’t seen it here yet) then now for anyone with a stable income, is the time to buy.

For those who do get laid off, your first line of defence is to make an appointment post haste and TALK to your bank manager. If you are a client in good standing, you can with your manager’s help do a few things, you can consolidate your debt and even arrange to pay interest only on your mortgage sometimes up to a year. Banks really don’t WANT your house and will work with you. If it turns out you are truly in way over your head, that gives you time to liquidate some of your assets before you lose it all needlessly.

On the other point, if you are considered high risk by a bank, then yes, your down will be larger.

:) Leasa