Nobody Minds a $200 Billion Pick Me Up

Up. Down. Up. Down. Up? Whatever the financial markets are doing, it's making me dizzy. Of course the cherry on top of the past week, the buyout of Bear Stearns for $2 a share. Meanwhile, the government continues to cut rates and help aid the markets. The following article runs through the government's relaxed requirements for Fannie Mae and Freddie Mac, in order to allow for more loans, and to help home buyers and to get things moving again. On a lighter note, I have included a piece on the importance of staging a home.

Government Eases Fannie, Freddie Restraints (click on the title for full article)

The government on Wednesday relaxed capital requirements at Fannie Mae and Freddie Mac as part of a plan to quickly inject an additional $200 billion of financing for home loans.

The initiative, which will require Fannie and Freddie to raise substantial funds, is part of a broader government strategy to ease a credit crisis that has made it difficult for consumers and businesses to borrow, and spread fear throughout global financial markets.

Benefits of Staging A Home (click on the title for full article)

On the most elementary level, staggers de-clutter, rearrange furniture and accessorize a house. To those more prone to hyperbole, they set an emotional tone for a home, one that suggests a lifestyle and perhaps "speaks" to potential buyers in a way that a kid's roller blades left in the middle of the living room just can't.

Back to It

After a bit of a hiatus, we have returned with more energy and excitement. Excitement you ask? How can that be with all the horrible news and cries of impending doom!? We're excited because this is an interesting market with tons of opportunities (which don't necessarily stick around for too long). Yes, there are homes sitting on the market, over priced maybe, and just waiting around, but there are also many homes (in this San Gabriel Valley area) selling in the first week with multiple offers above asking price. Buyers are out there watching, waiting and moving in on properties when they find the right one. So my word of advice looking down the 2008 pipeline, don't wait for prices to drop, get out there, search the properties, and find the home you want. Recession or not, we are in it, so let's take advantage of what is out there. On that note, a few articles to catch you up before the beginning of another (hopefully sunny) week in Southern California.

Bernanke, Buyers and Building

Bernanke Outlines Mortgage Help Plan (click the title for the full article)    

Fed chief says central bank 'strongly committed' to easing mortgage crisis.

White House Aims to Simplify Mortgage Process  (click the title for the full article)

Buyers would get easier-to-understand mortgage terms and save about $700 in closing costs under a new proposal.

Build Your Dream House Now (click the title for the full article)

It's the best time in years to take your blueprint off the drawing board and construct it for real.