Ponder the impact if we lose the Interest Deduction

It is unimaginable to me that anyone would think this was the time to consider this.
The mortgage interest deduction (MID) has been around for a long, long while and
does create value and motivation for purchasers. The impact if we lose it, I believe could be devastating to an already troubled real estate market and economy. I think it would stop it all dead in its tracks. The little bit of traction made of late... GONE.

I believe the MID to be a huge benefit for all.. I don't think a flat fee deduction and the elimination of the second home or equity loans benefit to be a solution.

Follow this link and Take a read of this and would love to hear your opinions!

Fewer homes in Chicago area worth less than owners owe - Chicago Sun-Times

Well at first glance this sounds like good news..
But is it ?
Not from how I read it!
Fewer homes in Chicago area worth less than owners owe - Chicago Sun-Times

Call today to Insure the Mortgage Interest Deduction Remains!

In case you haven't heard...
The Mortgage Interest Deduction (MID) may be modified.
The federal deficit commision endorsed a plan, just days ago, that call for tax changes.
The MID is among them. There is a number of ideas out there of what they may do.

The talk includes:
-converting the MID to a non-refundable tax credit of 12 percent
-reducing the eligible mortgage amoint to a lesser amount
-restricting the tax credit to principal residences only.
This would eliminate second homes and home equity loans.
Certainly, this will not in any way help with a recovery of the housing market.

As a fellow homeowner,and a Realtor, I reach out to you.
We cannot allow Congress to make any changes to the MID.
Call today and let your representative know where you stand! Let them know you DO NOT want any changes to this very important tax deduction that would impact thousands and thousands of homeowners.

Rates are up!

Watch those mortgage rates..
They are still bouncing along and but have gone up ...UGH
Still darn good . They are in the upper 4%..
Up from the low 4.25 we had been seeing.


Still, historically, pretty terrfic rates.

It's been quite a year!

It has been quite a real estate year...
Terrific Buys! but ...Short Sales...Foreclosures...
Sellers under Water ...Tough lending- a mixed bag!

But I am still excited with Real Estate! I love what I do!
And have been representing buyers and sellers, as always, putting together
tranactions... most smooth and stress free!
Playing the waiting game with short sales.. I have become quite expert in these matters!

It has been all about pricing... it is the number one marketing tool.
If its not priced right it is NOT going to sell.
Lots of homes on the market, lots of competition. The bargains are those that move!

Nearing the end of the year,the numbers should be interesting.
Check back for a snapshot of 2010