Real Estate 87 Blog October Archive blog.topic

Equity Lending Limitations Saved Texas from Real Estate Market Crisis

10/29/10 04:35

How is it that Texas did not suffer as much from the housing crisis compared to the other states of the US? The Texas locals have the Realtor lobbyists to thank for.

The Realtor lobbyists always opposed the bill proposed by bankers to allow equity loans. They reason that if house buyers borrow too much and the economy turns sour, there will be lots of home foreclosures and real estate prices will fall. Both house buyers and realtors will lose. So far, only 80% of the house's appraised value is allowed for equity loans, which is why Texas did not suffer as much from the equity-loan frenzy.

Link: [link]

Tags: equity lending • real estate • house loans • house buyers •
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List of Cities on the Rebounding Real Estate Markets

The United States is said to be on a rebound after the real estate crash in 2008. Real estate expert Barbara Corcoran has made a list of cities that are on their way to real estate recovery.

Number one on the list is Denver and the other cities include Raleigh, NC; Austin, Texas; Seattle and San Francisco. Some of the determining factors for making this list include job growth potential, growing population, the number of first-time buyers, and a well-educated population.

Link: Denver tops list of rebounding real-estate markets (rea

Common Sense

I work in real estate in Japan and despite it being a very unique market (escrow doesn't exist at all for example), reading this article makes me think of common sense whenever you are closing any real estate deal.

In this market here, especially in this day and age, we see clients coming in and seriously lowballing on everything. To an extent it is true that the market is on the buyer's side but that doesn't mean wild and crazy negotiations are the norm. Know market rates and make your offer fairly knowing there is someone on the other side who needed to sell for a reason.

Link: Buyer Tips for Short Sales in California (short sales);