Real Estate

How is your town doing? Is there tons of empty commercial real estate? Is this the end of the urban sprawl? Many are losing millions from lost rentals. If the large corporations are having a hard time staying in business how is the little guy going to make it? If debt is money and there is no credit, there is no money! Please add a video of your town of commercial or residential. You pray & the churches prey! March 13, 2009

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Hello and welcome to This Month in Real Estate. Im Jay Papasan.

The First Time Homebuyer Tax Credit has been extended and expanded, and the details can be found in our most recent special edition.

For December, we take a look at the results the incentive had on stimulating home sales since 2008.

According to the IRS, about 1.4 million people have taken advantage of the first time homebuyer tax credit.

Not surprisingly, California ranks number one with the number of people filing a claim for the tax credit, while Alaska and Wyoming are among the states with the fewest number of claims.

But those numbers dont tell the whole story. For more, we go to Bryon Ellington. Bryon?
Bryon: Thanks, Jay.

According to the Internal Revenue Service, every state in the Union has participated in the First Time Home Buyer Tax Credit.

If we look at the results according to the total number of claims, heres how the rankings shake out:

California is number one with more than 160 thousand tax payers taking advantage of the first time home buyer tax credit.

Texas is number two with over 131 thousand.

And Florida is number three with over 105 thousand.

But when we look at the data in terms of per capita claims, or the percentage of folks in each state who took advantage of the tax credit, we get radically different results.

Heres a look at the top three in terms of per capita participation in the tax credit

Nevada is in the number one position with more than 20 thousand claims out of a population of 2.6 million.

Utah is in the number two position with over 17 thousand claims out of a population of 2.7 million.

And Arizona is in the third position with over 38 thousand claims out of a population of 6.5 million.

Whats more, we find Alaska moving from near the bottom of the rankings to number 26 above California! And Wyoming, the least populated state in the U.S., moves to number 16. Thats just a bit behind Texas in terms of per capita tax payer participation.

Back to you, Jay

Jay: Thanks, Bryon. Thats it for This Month in Real Estate. Thank you for joining us.

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Each month, This Month in Real Estate provides expert opinion and analysis on real estate trends across the nation. The aim of the consumer-oriented segments is to help agents combat the “doom and gloom” messages of the national print and television media with real information on real estate.

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This video aired during the evening news broadcast. Used with permission. http://www.ElliottForRealEstate.com

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GMAC reports $2.5 billion loss for 2Q on weak auto sales, foreclosures; GMAC auto’s biggest miss was in SUVs, some misses in Trucks; GMAC does not see level of losses continuing; GMAC to change risk adjusted returns on auto products; GMAC says foreign cur

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http://inflation.us/

After doing research on Loan Modification Default Rates and Shadow Inventory Rates i am in shock. This is very serious people. I feel very bad for all the responsible people who have been paying on their loans like clockwork hoping to use equity to subsidize their retirement. Can anyone say “poof”

Links
http://www.mgic.com/servicing/hamp_gse.html

http://mhanson.com/archives/242

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Dec. 11 (Bloomberg) — Billionaire investor Sam Zell talks about the commercial real estate market and the outlook for the U.S. economy.
Zell spoke at a real estate conference at the New York Stock Exchange. Bloomberg’s Carol Massar and Matt Miller also speak. (Excerpt. Source: Bloomberg)

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http://www.SunwestTrust.com, 800-642-7167, Self Directed IRA Custodian, Self Directed Real Estate IRA allows you truly diversify your retirement account into more than just the traditional Wall Street investments or bank CDs. Learn more and contact Sunwest Trust, Inc. to set up an account today. We look forward to hearing from you.

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A local businessman has been named the No. 1 real estate agent in the country.

http://www.kmbc.com/news/19672550/detail.html

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This could be a great time for buyers to get good deals on homes. Nicole Purcell has more

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