Volcano Home

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Home as art

This home looks attractively priced at $750.000.00. I would be delighted to represent anyone interested in buying it. Call me to discuss the terms of your offer.

Fresno is a Bed Bug Free Zone

According to this map Fresno is NOT having a problem with bedbugs:

Bed Bug Registry - Check Apartments and Hotels Across North America

Come visit one of America's non-infested cities.

If you would like to look for home or investment property while you're here, call Lazarus @ 559-301-1647

Homeowners Could Lose Their Mortgage Deduction

Just came across this article.

Ax May Fall on Tax Break For Mortgages

SNIP:

"The popular tax break for mortgage interest, once considered untouchable, is falling under the scrutiny of policymakers and economic experts seeking ways to close huge deficits."
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Should homeowners and investors lose the tax deduction they now enjoy they would have to recalculate the value of ownership. I dont think it would bode well for property prices and it would certainly reduce the amount of disposable household income putting downward pressure on consumer spending during already frugal times.

Commercial Real Esate in New York

There are 920 football fields of available office space in Manhattan. More than 180 major buildings totaling $12.5 billion in value — from Columbus Tower at 1775 Broadway to the office tower 400 Madison Avenue — are in trouble, meaning in many cases they face foreclosure or bankruptcy, or have had problems making mortgage payments. Rents for commercial office space fell faster over the past two years than in any such period in the last half century.

Read the entire article here.

Silicon Valley's Commercial Real Estate Glut - BusinessWeek

Imagine 15 Empire State Buildings, all of them sitting empty. That real estate broker's nightmare comes to more than 43 million sq. ft., which is how much commercial space stood vacant in Silicon Valley as of the end of the third quarter, according to CB Richard Ellis Group (CBG).

Read the entire article here:

Cash-rich real estate investors trigger bidding wars, frustrate other buyers - washingtonpost.com

This is one of the most frustrating aspects of trying to get a first-time home buyer into a property.

Diggins and her fiance, George Mills, made a dozen offers on houses in Prince William County but lost more than half of them to investors making all-cash offers.


Frustrated, they gave up their search for a new home, convinced that they could not compete.

  READ THE ENTIRE ARTICLE HERE:
Cash-rich real estate investors trigger bidding wars, frustrate other buyers - washingtonpost.com

What Happens To My Credit If I Do A Short Sale?

HUD has issued a mortgagee letter to lenders and underwriters explaining that effective immediately, borrowers in default on their mortgage at the time of a short sale or pre-foreclosure sale will not be eligible for a new Federal Housing Administration (FHA) -insured mortgage for three years.

Distressed Short Sellers Locked out of FHA Loans

Read the entire article HERE.