The Real Estate Deal
Editor Cindy Zetts dishes on real-estate and development around Puget Sound: She lived in apartments, townhomes and houses -- a dozen of them in four states -- before settling in the Seattle area in 1997. After taking a bath on the sale of her first home, in South Florida, she vowed to wise up about real estate. She bought a house in Covington 10 years ago because, well, she could afford one there.
November 10, 2008 2:12 PM
Realtors to Obama: Help homeowners avoid foreclosure
Posted by Cindy Zetts
From reporter Elizabeth Rhodes, in Orlando for the National Association of Realtors conference:
ORLANDO, Fla. -- Once inaugurated at the 44th president, Barack Obama will have his hands full dealing with the country's many issues and ills.
A new study, released today in Orlando at the National Association of Realtors annual convention, shows that helping troubled homeowners avoid foreclosure should be high on Obama's to-do list for his first 100 days.Commissioned by Move, the operator of the heavily searched Realtor.com site, the study focused on housing issues.
Half of the 1,004 Americans interviewed for the study said that avoiding foreclosure was the No. 1 housing issue, far higher than making mortgage credit available (22.7 percent) or helping first timers buy homes (16 percent).
"Consumers are looking for an event, like a new president, to ignite their confidence in the housing market," Move President Lorna Borenstein said. "While today's challenging housing market has affected many, findings from this newest survey tell us the American dream of homeownership is alive and stong."
About 5 percent said they plan to buy a home in the coming year, about three times the percentage that actually bought this year.
Still, there's no getting around the fact that consumers are depressed. Two thirds of those who said they wanted to buy also said they have held off doing so because of overall economic conditions, and 28 percent said they have either sold recently for less than they hoped to get for their home or know someone else in that boat.
Dec 1, 08 - 02:41 PM
Real-estate outlook: Is the glass half-full, half-empty or broken?
Dec 1, 08 - 01:39 PM
Lower mortgage rates means "it's a great time to buy," loan officer says
Nov 26, 08 - 07:00 PM
Real-estate facts and figures: What a week
Nov 20, 08 - 02:18 PM
Happy holidays: Fannie, Freddie postpone foreclosures until next year
Nov 20, 08 - 02:00 PM
Comptroller: Community Reinvestment Act didn't cause credit crunch

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