Idaho Short Sales and Foreclosures - Where are we headed?

George Tallabas — Sat, 23 Aug 2008 02:01:00 GMT

I recently attended a class held by an employee of Indymac Bank that has worked in the Loss Mitigation or "Short Sale" department of Indymac for 18 years. This speaker is the second speaker in 2 months to tell us that ARM loans will continue adjusting through 2010. The instuctor stated that 5/1 ARM loans made in 2005 will have their final reset in 2010. This instructor stated that these resets will certainly cause more homeowners to face a Short Sale or Foreclosure unless something drastic happens in the financial markets.

In an article written by "Market Watch" the article states that in the coming months and years, the credit crunch that's now squeezing mainly the poor is likely to hit millions of middle-class homeowners who took out risky loans during the great housing boom early in the decade. The article goes on to state that more than 1 million families will loose their homes in the next few years by one estimate and another study predicts 2.2 million foreclosures will hit our market in the months and years to come. Read The True affect of ARM Loans on the Housing Market.

I subscribe to a service that emails me all the NOD's or "Notice of Defaults" which is the beginning of foreclosure. These recordings are increasing in numbers weekly and have been doing this for most of this year. All this supports what Market Watch is reporting.

I encourage anyone that is uncertain about their loan or feels uncertain about their ability to make their future payments to not wait to take action. I am a "Certified Short Sale Specialist" and my goal is to assist homeowners that are struggling with their home loans. In the class given by the employee of Indymac I learned how to expidite Idaho Short Sales to give you the best chance of executing a successful Short Sale in Idaho. I can answer all your questions about every facet of the Idaho Short Sales Process.

If you are looking to buy a home the choice of affordable homes available to you is currently the best I have seen in my 28+ years as a real estate broker in Idaho. There are over 900 homes in the Southwest Regional MLS of Idaho that are identified as Idaho Short Sales and the number of foreclosures are growing as I have referenced above. Contact me at the phone numbe or email below or begin your own search at Idaho Real Estate Search

Call me at 208-880-2333 or email me at george@tallabas.com with any questions.

All my best

Idaho Foreclosures and Short Sales to fund college?

George Tallabas — Sun, 04 May 2008 20:12:00 GMT

Parents and grandparents please, please read this carefully. I have written about this in the past and advised many indivuduals. I think it is time to write about this again. Those I mentioned this to a few years ago and put the idea to practice are well on their way to funding a wonderful education for their children or grandchildren.

The timing for this idea has never been better and getting better every day. What I am talking about is an idea I heard about a few years ago. It is very simple: Buy a home when your child or grandchild is born or up to 2 years of age and pay it off in 15 years by putting it on a 15 year mortgage. Rent the home out and 15 plus years later deed the home over to your child or grandchild. The child can then continue to rent out a free and clear home to fund their education or sell the home and have a sizeable amout of money to fund a great education at just about any college or university in the country.

The home becomes a tax write-off for you and since your child or grandchild is in a much lower tax bracket, the tax consequence is minimal for them. The reason I say timing has never been better to implement this idea is because of the high number of Idaho Short Sales and Idaho Foreclosures. In many parts of the country just like Idaho one can realistically purchase a home at 70, 80 or 90 percent of real market value.

Look at a real estate value graph that tracks real estate values over time and you can see there are always corrections and plateaus but real estate always goes up in value over a 10, 15 and 20 year time frame and has never failed to do so. It is very feasable that if this Idaho Real Estate market turns around in the next year or two Idaho Real Estate values could begin appreciating rapidly. It is very possible that if you purchased a home today you could see the property double or triple in value in 15 years.

Most Idaho Foreclosures and Idaho Short Sales can be found at Southwest Idaho Real Estate Search. You can give your child or grandchild a lot of things but they will never forget the quality college education you made possible for them.

Boise Idaho Real Estate News : Nampa Short Sales

Idaho Short Sales and Foreclosures - Where are we headed?

Idaho Foreclosures and Short Sales to fund college?