(SOURCE: National Association of Realtors) – The struggling housing market needs to be a priority on the nation’s public policy agenda, because housing and homeownership issues affect all Americans. That was the message from speakers at the Legislative and Political Forum yesterday at the 2011 Realtors(R) Conference & Expo.

Realtors(R) at the National Association of Realtors(R) annual conference heard from Washington Post columnist Eugene Robinson and political media consultant Alex Castellanos, who both agreed the housing market is hurting and needs to be a top priority for the 2012 presidential candidates.

Both speakers said that while much of the debate focuses on the financial aspects of homeownership, there is no denying that owning a home has many social benefits and is important to the fabric of society.

“Owning a home represents the best of America, is a goal for many families and has many benefits beyond the financial. We build the economy on homeownership, however, and until the housing market is restored, the nation and economy can’t move forward,” said Castellanos. He said that instead of taking money from hardworking, middle-class Americans by reducing or eliminating the mortgage interest deduction, the government should to cut its spending and give back to the American people.

“Taking away the mortgage interest deduction would let even more air out of the balloon and be devastating to the housing market and economy. I don’t anticipate changes to mortgage interest deduction,” said Castellanos.

Rep. Gary Miller (R-Calif.) also spoke at the forum and urged Realtors(R) to reach out to their members of Congress and encourage them to get involved in stabilizing the housing market.

“A healthy housing industry helps everyone in the country. The housing market has led this nation out of every downturn we’ve had in the past. Congress needs to focus on stabilizing the market, and that must be dealt with today and in a comprehensive fashion that will serve homeowners today and in the future,” said Miller.

He said that legislation and regulations to fix the housing market must do no further harm. Miller said reduced loan limits for conforming loans, proposals that would eliminate Fannie Mae and Freddie Mac, and calls to eliminate or reduce the mortgage interest deduction are having a negative impact on consumer confidence and the housing industry, and could lead to less liquidity and possibly more foreclosures.

Miller talked about the future of the secondary mortgage market and said that while private capital must be the dominate source of mortgage credit, government involvement is necessary to ensure investor confidence and mortgage liquidity.

NAR supports the principles of a bill introduced by Reps. Miller and Carolyn McCarthy (D-N.Y.) earlier this year, H.R. 2413, the “Secondary Market Facility for Residential Mortgages Act of 2011,” that offers a comprehensive strategy for reforming the secondary mortgage market and gives the federal government a continued role to ensure a consistent flow of mortgage credit in all markets and all economic conditions.

California Governor Jerry Brown was also a featured speaker at the forum and told attendees that while it’s important for consumers to live within their means it also critical that they invest in their futures, and one important way is through homeownership. He also said there needs to be more help for underwater homeowners through refinancing their mortgages or reducing their debt burden.

Brown hopes Congress can come together soon and develop solutions that will solve many of today’s housing and economic challenges. “The nation needs to have restored confidence in the housing market and economy,” he said.

The National Association of Realtors(R), “The Voice for Real Estate,” is America’s largest trade association, representing 1.1 million members involved in all aspects of the residential and commercial real estate industries.

Information about NAR is available at www.realtor.org. This and other news releases are posted in the News Media section.

REALTOR(R) is a registered collective membership mark which may be used only by real estate professionals who are members of the NATIONAL ASSOCIATION OF REALTORS(R) and subscribe to its strict Code of Ethics. Not all real estate agents are REALTORS(R). All REALTORS(R) are members of NAR.

There are many financial and personal reasons why you should own your own home rather than rent. The obvious reasons include pride of ownership, building your own equity instead of someone else’s, no more landlords, and of course the tax benefits you reap. There are a multitude of other reasons why owning your own home can make your life better.

One of the most overlooked reasons for owning a home is the freedom you get once you have achieved this major goal in life. Many first-time homebuyers find that once they have bought a house, many other aspects of their personal life seem to fall in place. The security and piece of mind that come with home ownership is a great accomplishment in many people’s lives, and once they have overcome the obstacles, they find that other goals they had set out to achieve become much easier to attain.

There is a great sense of belonging to the community once you own a home. You begin to feel more attached to the city and its people. You will find yourself more involved with community events – what is happening with the schools, roads and shopping centers in your area. Some new homeowners find themselves getting into local politics in order to create better surroundings, which is something renters seldom do.

Home ownership is a strong anchor for your life. You have something that represents a strong commitment and a sense of stability. Again, the aspect of freedom comes up – you won’t have to worry about a landlord telling you it is time for you to move, your children won’t have to worry about whether they will have to change schools, and you are blessed with the ability to plan for the future.

By owning a home, you will find yourself in more control of your immediate surroundings. You can change things and decorate to your tastes, and not be limited by the standards of a landlord. You do not have to seek someone else’s approval if you decide to remodel or alter the landscaping. Your home truly is your castle.

If you have children, you will find that they feel more secure when coming home to a house that is not owned by someone else. There are no worries that they will be suddenly forced to change schools and reestablish their lives at the decision of someone else. You can also get to know your neighbors, and if they have children, lifelong friendships can be formed because everyone knows that they will be around each other for years and years.

One final aspect that cannot be overlooked is the pride that you feel when you own your own home. You have proven to yourself that you can achieve monumental goals and can give your family the security it needs to move forward in life. Once you have built up equity in your first home, you can leverage your equity to purchase a nicer home later.

Choose your agent wisely. Working with a full-time professional real estate agent is a must. Ask questions of your agent. Find out how knowledgeable he or she is about houses currently for sale in your price range and also of houses that have recently sold. Can your agent recommend a good lender that has the reputation of excellent customer service and low rates? Does your agent ask questions of you to have a full understanding of what you are looking for to help you get the most home for the money?

With the end of the year fast approaching, it’s time to ask the question of whether it’s worthwhile trying to sell your home now. Could this be a waste of time? Will the house stay on the market and become shopworn? Should I remove my real estate from the market for the holidays? Will the real estate / home-sale market be better for sellers in 2012?

The BEST question you need to ask yourself is: Are you emotionally prepared to sell this real estate? Selling a home in general is a challenge for most sellers, although some markets are better than others. Unless you bought the real estate more than eight to 10 years ago and preserved the homes equity, you may not be able to sell for enough profit to pay off the mortgages secured against the property and the other costs of selling.

For sellers who have no additional assets, a short sale or foreclosure of the real estate may be the only option. If so, first look into government programs that might help you out financially. Also, talk to your attorney and tax adviser about your best options in these instances.

Sellers who have the resources to make up the difference between the sale price and the amount they owe on the home need to ask themselves if they are willing to pay the additional cash in order to sell and move on.

There are a few reasons why you might prefer bringing cash to closing. One is that your credit will not be negatively impacted, as would be the case with a short sale or foreclosure. Another would be that many buyers shy away from short sales because of the lengthy and uncertain process involved in this type of home purchase.

Another thing to consider is the condition of your home. Is the real estate ready for the market? The most salable homes are those that are in move-in condition.

Before racing to the hardware store, ask your Realtor about how much competition there would be for your home if you put it on the market before the holidays. Some areas are shy on inventory of good homes on the market. If so, now could be a great time to sell in those markets.

HERE’S A HOUSE HUNTING TIP: The supply vs. demand ratio plays a significant role in the health of a local real estate market. No matter what is said about the housing market nationally, it’s the local picture that tells the tale in terms of the possibility of selling your home at any given time.

Most sellers don’t put their homes on the market during the last or first couple of months of the year. The inventory of homes for sale will usually dwindle during the winter months. Interest rates are usually low. So, if there are buyers in your local market, you may be at an advantage selling when most sellers are waiting till the summer or spring.

Some sellers feel that if they’ve waited this long to put their property up for sale, they should put the process on hold until spring and get the house ready to sell in the meantime. Certainly, it’s not a good idea to put your house on the market until it looks great and is move in ready. But if you and your house are ready to sell, move ahead.

The market in general tends to slow down over the holidays. But rather than pull your house off the market and miss a likely prospect, change the showing procedures to require advance notice. And enjoy your holidays. A sale before year end could be a great holiday present for yourself and your family.

There is a lot of demand, on both the buyer and seller sides of the equation. Sellers have been waiting for a better time to sell their homes. Buyers have been waiting for more quality inventory and a sense that prices have bottomed or are close to it.

IN CLOSING: Recent projections call for another five or so years of bouncing along close to the bottom of this real estate market cycle. Although it should be mentioned that many experts believe that the big price declines are behind us.

It’s simple:  The money is out there.  There’s about a million and 3 ways to raise money for real estate.

Starting with people that know and trust you may not be a bad idea.  Even if they don’t have cash, maybe they have a ton of equity in their homes and can tap an equity line of credit for you?

These lines usually carry low interest rates and long-term payment terms.  This is just one of a thousand ideas.  And if your friends or relatives don’t have money to  lend rest assured there’s a ton of people directly in  your area who are ready to lend someone like you!

Actually, one of the best ways to get funds FAST is  to talk to somebody who is already lending money on a regular basis.

You don’t have to sell them on becoming a private lender.

You don’t have to convince them or educate them about the process.

These individuals are actually already looking for smart  investors like you to bring them good deals in order to earn  a return on their funds!

All you need to do is find them and approach them.

BUYERS: How To Have A Smooth Home Purchase!

Buying a new home can be an exciting time:

Whether it’s your first home or your fifth. However, your savings, your credit rating, and your financial freedom are all on the line when purchasing a new home. You want to feel comfortable when it is time to sign on the dotted line and feel good about the home you are about to purchase. It’s important not to let your emotions cloud your judgment when you set out to buy what is most likely the largest single item of your life – your new home.

Before you begin to actually looking at homes:

Take the time to establish your needs and wants. Make a careful assessment of what you absolutely must have in your new home compared to what would just be nice. Be as specific as possible when determining your needs prior to purchase. It will save you much time and concern to do this before looking rather than getting into a new home only to discover that it doesn’t meet your needs.

Determine how much you can afford?

In a home loan and get pre-approved. Set up a budget for monthly payments and be realistic. By assessing your financial situation and getting pre-approved, you can be certain that when you select a new home, you will have the financial backing to get you in as quickly as possible. When considering the purchase of a home, don’t just look at your current financial status. You will probably be in this home for years, and many things can change. Take your future into account as well, looking at such things as job changes and a growing family.

Once you begin the process of searching for a home, don’t let emotions cloud your judgment. Just because a house has a nice lawn or some interesting architectural features doesn’t mean it is the perfect one for you. While it is important to consider the aesthetics of a property, consider that much of what you see can be changed. Never judge a house by how the current owner has decorated. Most likely, whatever is inside the house will be gone when the seller leaves, and it will be up to you to paint and decorate.

Take the time to view several homes. This doesn’t mean look at every house available on the market, but look at enough properties to get a good feeling that you aren’t just making an impulse buy. When you find the right home, all the work you do in this process will pay off.

Once you have selected a home that you feel is right, inspect it thoroughly. Be sure the home is inspected by a professional home inspection company, and go over that report with a fine-toothed comb. By taking the time to do this before making the purchase, you can save yourself an endless amount of stress after the fact. Don’t take anything for granted. There are many pitfalls that can surface during the process, and it’s vital that you take care of these problems before you move in. When inspecting your home, check for working utilities so there are no surprises later on. Check out all costs and expenses before you sign anything. Taxes, insurance and homeowner dues may appear, and you need to know all of them. Ask as many questions as possible and be very conscious of details.

Use your home-buying team as much as possible. Align yourself with the right real estate professional and you will have an entire team of reliable lenders, title representatives and home inspection companies available to you. Each of these people should work hand in hand with you and each other for your benefit.

Be sure to do a final walk through once all the previous owner’s furnishings have been moved to be sure of no surprises. Be absolutely positive the property is in exactly the same condition that you agreed upon in the contract. Things that could not have been spotted before are often unintentionally overlooked.

Plan for flexibility. Closing dates are not carved in stone. Allow for certain contingencies and always have a back-up plan in the event that delays occur. These types of circumstances are not at all uncommon in real estate transactions, so it is important that you are prepared for them.

Any and all promises and agreements must be written. If it is not in writing, then assume that it doesn’t exist. Even the best of intentions can be unintentionally misinterpreted, so take the time with your REALTOR to be certain that all agreements have been signed on paper.

Remember, your team will work best for you if you are honest and up front with them. Take the time to select the right team of professionals to get you into your new home and do everything possible to make this an enjoyable experience. They will return the favor by getting you into your new home as smoothly as possible.

Choose your agent wisely. Working with a full-time professional real estate agent is a must. Ask questions of your agent. Find out how knowledgeable he or she is about houses currently for sale in your price range and also of houses that have recently sold. Can your agent recommend a good lender that has the reputation of excellent customer service and low rates? Does your agent ask questions of you to have a full understanding of what you are looking for to help you get the most home for the money?

Thank you for requesting a copy of this free report outlining the steps to take in order to ensure a smooth transaction when purchasing a house. I hope it is helpful and informative in your search for the home of your dreams.

For prompt, courteous, professional service, call, e-mail, or visit my website.

Have questions, need advice you can count on or just want to discuss this further?  Don’t waste any more time; pick up the phone and call me now!  I’m here to help!

I appreciate you as a client and a friend. I appreciate your business, your loyalty, trust and your referrals. It is my goal to provide the very best counsel, advice and service possible for your real estate needs. If I may ever be of assistance to you, a relative, friend or co-worker please don’t hesitate to call me. I look forward to the opportunity to serve you.

But what do you need to be able to do once you  find a real estate deal that seems like it has  potential?

==> There are 2 things that you must be able to  do  – these are crucial – once a deal comes along  your way:

1) Analyze it the right way to figure out if  it’s indeed a great deal or just a lemon.

2) You must be able to get the funds to take  advantage of this deal QUICKLY if it turns out  to be a good one.

When it comes to really juicy real estate deals,  those investors with readily available funds (and ability to prove it) win the deals, hands down.

This holds true for residential deals and commercial alike.

==> What kind of funding will you need?

Well, that depends on what kind of deals you’re going after.

*** For example:

If you are rehabbing and flipping, you’ll need short-term acquisition and rehab funds.

If you rehabbing and keeping properties as rentals, you’ll need long-term financing as well as short-term.

If you going after large apartment buildings, you may need:

1) Equity investors to put up the cash for downpayment and
2) Bank financing for the rest of the purchase price

==> Point is this:  No matter what kind of deals you’re going after, having your ducks in a row BEFORE you find the right deal will ensure you GET THE DEAL!

And even if you think you have everything in order already,there’s always better, cheaper, and easier sources of capital out there!