| Newsdesk | Volume 3 | Issue 249 | September 18, 2009
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| Top News Fed chief: ‘The recession is very likely over’ – USA Today – – WASHINGTON – Federal Reserve Chairman Ben Bernanke said Tuesday the worst recession since the 1930s is probably over, although he cautioned that pain especially for the nearly 15 million unemployed Americans will persist. FDIC Launches Foreclosure Prevention Initiative – FDIC – – kit of information that will help borrowers, community stakeholders and the banking industry avoid unnecessary foreclosures and stop foreclosure ‘rescue’ scams that promise false hope to consumers at risk of losing their homes. The tool kit includes Deadline nears for home tax credit – USA Today – – first-time home buyers is already linked with an uptick in sales. For the first time in five years, existing home sales have increased for four months in a row, according to an August report by the National Association of Realtors (NAR). Sales rose 7.2% |
| Market News Mortgage Demand Down as Summer Ends – REALTOR Magazine – – Summer Ends Mortgage applications slowed as summer ended and potential first-time buyers wondered whether they would be able to settle in time to receive the federal home ownership tax credit, which expires Dec Gearing up for short sales and REOs – Inman – – regularity of short sales and foreclosure-related transactions, the National Association of Realtors has launched a Short Sales and Foreclosure Resource Certification program. ‘Someone that comes out of the program will have enough education to be a US housing construction up 1.5 percent in August – CNBC – – is set to expire at the end of November. The National Association of Home Builders said Wednesday its housing market index rose in September, reflecting growing optimism in the industry about rising home sales. The trade association said its index rose California seen lagging behind U.S. recovery – CNN – – SAN FRANCISCO (Reuters) — California will lag the United States as the country recovers from a deep recession, with normal growth in the most populous U.S. state not seen resuming until 2011, the UCLA Anderson Forecast group said Wednesday. |
| Technology News Voice Chat Coming To Facebook – CNN – ‘Look out, users: Here comes voice chat. |
| Other News KB Home restarting its Mid-Atlantic operations – CNBC – – LOS ANGELES – KB Home said Wednesday that it is restarting its Mid-Atlantic homebuilding operations after pulling back on those efforts while it tried to conserve cash, cut costs and lower inventory. Real Estate Roundtable Welcomes IRS Action Allowing CMBS Loan Modifications – Reuters – – WASHINGTON, Sept. 15 /PRNewswire-USNewswire/ — The Real Estate Roundtable today welcomed a new Internal Revenue Service (IRS) tax rule (Revenue Procedure 2009-45) that will allow commercial real estate borrowers to proactively discuss possible |
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Monthly Archives: September 2009
WEBSITE UPDATES
WebSite updates for MauiRealEstate.NET
Our webmaster has made some significant upgrades to our site. We know you will be pleased!
TAX RECORDS:
When you go to advanced search to a specific property you will note two tabs “Source 1” and “Source 2” . click on Source one and then click on the name of the owner. You will note on the left a ton of information available to you. “Source 2” also has tax information.
OTHER UPDATES
For advanced search:.
Now you can:
1. Search for newly listed properties only
2. Search listing by sorting by Listing Date
3. Search results now show if listing is new (10 days old or less)
4. Search results now show which listings are in escrow/pending, bank owned and potential short sales
THE ECONOMY – Another perspective
WASHINGTON (Reuters) 9-15-09 – Federal Reserve Chairman Ben Bernanke said on Tuesday that the worst U.S. recession since the Great Depression was probably over, but the recovery would be slow and it would take time to create new jobs.
“Even though from a technical perspective the recession is very likely over at this point, it’s still going to feel like a very weak economy for some time,” Bernanke said at the Brookings Institution, a Washington think tank.
In declaring the recession over, Bernanke sounded a slightly more upbeat tone than in late August when he had said simply that prospects for a return to growth were good. However, he cautioned that growth next year would probably be sluggish and that unemployment would only fall slowly.
“The general view of most forecasters is that that pace of growth in 2010 will be moderate, less than you might expect given the depth of the recession because of ongoing headwinds,” Bernanke said, citing tight credit conditions and other economic restraints.
He spoke on the one-year anniversary of the collapse of Lehman Brothers investment bank, an event that sparked a global financial panic, and a week before Fed officials meet to review their policy options.
The Fed — the U.S. central bank — slashed benchmark interest rates to near zero in December and has been buying mortgage-related securities and longer-term U.S. Treasury debt to give the economy a lift. Bernanke, in a nod to recent relatively upbeat economic signals, said it was possible the recovery could be stronger than expected, but cautioned that it could also be weaker.
“There are risks on both sides of that forecast,” he said. “But if we do in fact see moderate growth, but not growth much more than the underlying potential growth rate, then unfortunately, unemployment will be slow to come down.”
ECONOMIC PULSE QUICKENS
Bernanke’s comments implicitly acknowledged the possibility of a stronger-than-expected “V-shaped” U.S. recovery. The latest Blue Chip survey of economists predicts that growth will expand by a brisk 3 percent annual rate in the third quarter.
WEBSITE UPDATE
Just a few quick items regarding our updated website:
SEARCHING FOR BANK OWNED OR SHORT SALES? our website makes that simple and also lets you know if the property is under contract
LIVE STREAMING WEBCAM: Thank you to all of you who enjoy our beach webcam and send us emails. It is back up and running to enjoy while you sip your coffee in the morning and Mai Tais at night!
SUGGESTIONS? IDEAS TO MAKE US BETTER? Please email your suggestions to dad@MauiRealEstate.net
TAX CREDIT TO EXPIRE SOON. HERE'S A GREAT VALUE
709 PIO WAILUKU ~ OPEN SUNDAY 10:00 AM TO 2:00 PM
NOT A SHORT SALE, NOT AN REO, JUST A SUPER DEAL
3 BD. 2 BA. SEPARATE DINING ROOM, HUGE LIVING ROOM, DEN & 11,000 + SQUARE FOOT LEVEL LOT….FABULOUS AND ONLY $394,000
Don’t forget! Tax credit to expire soon
The federal tax credit for first-time home buyers is set to expire on December 1, 2009. However, to qualify, a transaction must be closed on or before November 30, 2009.
call us @ 808-280-2764
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