Friday, May 30, 2008

TAX PROBLEMS

From NY Times comes this story:

Folks who bought multiple homes for investment, and borrowed the equity in them to buy the next home as the market rose, are feeling the ire of the IRS. As foreclosures occur, the loss to the lender is reported to IRS, and IRS is now counting the loss as a benefit to the original borrower, which is taxable. And the tax on the benefit isn't erased by bankruptcy. Big time problems!

We have no such problems in Tyler Texas. Low foreclosures, steady value increases, good amount of properties from which to choose....... Email http://johncmartin.com and let's get started on your financial security.

Wednesday, May 28, 2008

NEW NUMBERS

Numbers can tell a story......if the numbers are right. Although the prices of homes fell significantly during April, the numbers of new homes sold ROSE 3.7%. That's very promising.

There's also an upside to the reduced prices of homes. And that is the fact that more folks can buy homes now than they could before. And that certainly gave forth to the rise in homes sold in April.

Although there's a slight reduction in prices in Tyler Texas real estate, we're holding steady for the most part. http://www.johncmartin.com is the place to go in order to find yours here in East Texas.

Monday, May 26, 2008

VACATION TIME

Upon returning last evening, I had 491 emails to attend to, and a couple of contracts to write. A new listing and three closings in a short, Memorial Day week will make for a very busy schedule for the next four days. Those following this blog will forgive me if I don't get back to you quickly. Tyler Texas real estate and www.johncmartin.com "stands ready when you are" (except for this week). :)

Monday, May 12, 2008

MORTGAGE APPLICATIONS

Real estate mortgage application rose during the week ended May 2, according to the Mortgage Bankers Association. Purchase applications climbed 12.1%, while refinancing shot up 19.3%. Looks like the worst may be over for most of the country, while we haven't slowed down at all in Tyler Texas.

Monday, May 05, 2008

REAL WORLD ECONOMICS

Pioneer Press has revealed a startling fact.... that investors in mortgages don't like to buy loan packages made up of loans which are likely to be paid off early. Why? Because they don't make as much interest. They would rather buy packages of mortgages made up of loans which will remain on the books or will turn over several times over the course of the economic life of the property! And THIS is what motivated the risky loan adventures of banks and hedge funds. Why I didn't think of this before, I don't know. Tyler Texas real estate is a bit more conservative, I guess. We don't have many foreclosures. I suppose folks like to PAY OFF their mortgages or pay cash for what they buy.