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The late basketball coach John Wooden is attributed with the saying “Never confuse activity with accomplishment”. It is advice that can serve us all well. Simply flailing around looking busy does not in itself solve the challenges of life.
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So as of last Friday, the home buyer tax credit can rest in peace. I never got the feeling that it ever really took off like we expected. I had some clients that took advantage of the $8,000 credit to provide or beef up down payments, but I think they would have purchased a new home anyway. The credit just helped them along. That means that in many cases, all we did was spend tax dollars for a non-stimulus, which is typical of government intervention.
Obama wants to makes changes to the $75 billion loser program “Making Home Affordable” that might make things even worse. http://tinyurl.com/yh9agzn
Personally, I am fed up with this administration throwing money away for nothing. As the article states (from the typically liberal New York Times), the changes will likely shift the focus of the program from those who might be able to get back on their feet with a little help, to anyone who can fog a mirror with their breath. It will only prolong the foreclosure crisis by temporarily reducing the number of active foreclosures, which will no doubt be heralded as a major victory by the White House Administration.
We need to remember that the current economic crisis was caused by fifteen or twenty years of government intervention into banking and finance. In the name of votes and ego gratification, that will apparently never go away, unless we vote them out. Thank you Massachusetts!
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Our job as professional Realtors® these days is to listen to all the excuses people use to put off buying a new home. “The market will keep going down. The interest rates are staying low. The windows are a little dirty. There is no reason to hurry in a buyer’s market. I’m looking for a $350,000 home for about $140,000.” I’m sure my fellow agents can come up with a few more. It would be hilarious if it were not so tragic, watching people wring their hands in “analysis paralysis” while the deal of their lives slips away before their eyes. (more…)
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If you, like many people today, are faced with a mortgage which is delinquent or about to become delinquent, you may qualify for help from Uncle Sam. The Home Affordable Modification Program (HAMP) was enacted in February 2009 (more…)
STATE OF GEORGIA
Sonny Perdue
GOVERNOR
For Immediate Release Contact: Office of Communications
Thursday, September 17, 2009 (404) 651-7774
Statement of Governor Perdue Regarding the Department of Human Services Contract with ACORN (more…)
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The most astute appraisal of President Obama’s performance to date. If anyone sees an error or an exaggeration in the below please bring it to my attention.
One of Bob Oster’s CEO friends wrote this. Bob respects him highly. (For those on this list who don’t know Bob: he was CFO of Oracle when it went public, also CFO of Syntex, and holds a Ph.D. in economics from Berkeley. Since 1987, he has been an angel investor and private VC. He is on the Board of Overseers at the Hoover Institution.) (more…)
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In my last article I mentioned four programs that can benefit many home buyers. I received several calls about one program that offers a $14,000 forgivable loan program which is called the Georgia Dream Home Ownership Program, also known as the Neighborhood Stabilization Program, and referred to as NSP Loan. I thought it might be helpful to explain it in detail. (more…)
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The late Sam Walton, founder of Wal-Mart, was asked what he planned to do about the recession in 1991. He replied that he planned not to participate. I’d say it worked out pretty well for him. (more…)
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Another year has gone by for the Georgia State Legislature. It absolutely amazes me how much time they can spend accomplishing so little. (more…)