From the Good News Channel....

The Bottom Line is Good News!

Put it all together and what do we have? A recovering economy will help consumer and business spending to turn the corner and the economy to move to a self-sustaining pace. But it requires a catalyst to get things started. The tumbling housing market and subprime mortgage defaults have caused financial markets to freeze and have pushed the economy into a recession. However, recent rising home sales and some sustained momentum will bring the economy back into the fold.

Rising home sales will also thin out the housing inventory and begin stabilizing home prices. The credit market will start to unfreeze once home prices have passed bottom. Simply, the economy will not recover without a housing market recovery.

Fortunately, policymakers and both Presidential candidates clearly recognize the need to get the housing market moving. The two housing stimulus bills (homebuyer tax credit and higher loan limits), $700 billion Treasury plan and the Federal Reserve's actions are designed to assure steady mortgage flow and help revive the housing sector.

With it, the economy will expand and create jobs. America and its exceptional ingenuity always find a way to move past crises and back to economic prosperity.

Sign of The Times

Haunted Houses

Real Estate Humor

Don’t Let the Cat Out.

Realtors have many stories to tell about showing Homes… Here is one: I was showing my clients a two-story home, and as we walked back down the stairs we saw a cat run out the front door. I was mortified that I failed to close the front door and let the cat escape. Luckily, my clients were very understanding and spent 20 minutes helping me chase and capture the cat. Successful in our pursuit, we returned the cat to the house and went on our way. But the story doesn’t end there—the listing agent called me that night to find out if I knew anything about the strange cat the sellers found in their home when they returned from work.

Reasons not to Mess with Children.

A little girl was talking to her mean teacher about whales.
The teacher said it was physically impossible for a whale to swallow a human because even though it was a very large mammal its throat was very small.
The little girl stated that Jonah was swallowed by a whale.
Very Irritated, the teacher reiterated that a whale could not swallow a human;
it was physically impossible.

The little girl said, "When I get to heaven I will ask Jonah".
The teacher asked, "What if Jonah went to hell?"
The little girl replied, "Then you ask him. "

Need More Reasons Why 'NOW' is a Good Time to Buy a Home?

1. When you have a family, it’s always a good time to buy.

2. In this market, there are a lot of options

3. It didn’t make sense for us to spend the same amount of money renting something when we could own it.

4. Working with a REALTOR® took all of the guess work out.

5. This is the best market in years in terms of choice.

6. Interest rates are at historic lows.

7. Home choices have increased and prices are favorable.

8. If we didn’t buy now, we would have missed the opportunity on this home.

9. Buying a house is the best investment anyone can ever make.

10. It’s a great move-up market.

6 Truths about The Current Real Estate Market

From Illinois Association of Realtors Convention speaker and agent trainer Kim Daugherty presented these market truths in his session "Make Your Listings Sell."

1. Buyers buy after shopping around and they will be comparing your property to others currently on the market.

2. Sellers control the pricing and salability of their homes but buyers control the VALUE. A property is worth what the market will pay.

3. If a property sits on the market for more than a few weeks it gets shop worn (like a stale donut.) Price it right in the beginning while it is fresh and buyer interest is at its peak.

4. Most properties must be sold three times — to real estate agents with buyers, to the buyers themselves and then to the lenders who will loan the money.

5. What it means if there are no showings — agents don’t see your offering as worthy of showing to their buyers or buyers aren’t interested enough to look. If there are no offers, buyers don’t see enough value to even negotiate or try to buy.

6. Overpriced properties actually help well-priced properties sell.

Thinking of Buying a Home But Not Sure if this is the Right Time?

1. When you have a family, it’s always a good time to buy
2. In this market, there are a lot of options
3. It didn’t make sense for us to spend the same amount of money renting something when we could own it
4. Working with a REALTOR® took all of the guess work out
5. This is the best market in years in terms of choice
6. Interest rates are at historic lows
7. Home choices have increased and prices are favorable
8. If we didn’t buy now, we would have missed the opportunity on this home
9. Buying a house is the best investment anyone can ever make
10. It’s my job to help buyers make the right decisions
11. It’s a great move-up market.

Home, Home on the Not So Normal Range

Shaquille O'Neal's House , Why Won't It Sell?
Price: $29 million. Sold For: Not sold.

Basketball player Shaquille O'Neal has been trying to sell his home on Miami's prestigious Star Island off and on since 2005.The home has eight bedrooms, an indoor basketball court, gym, steam room and sauna. The 2.5-acre grounds include a tennis court, six-car garage, dock, two-bedroom guest house and Shaq's pool, complete with Superman logo. He has chopped a few million off the price but may have to go a bit lower if he wants to sell in the depressed real estate market.

If you would like to purchase this home, here is what you will need:

20% Down Payment: Approx. $5.8 million

Monthly Payment: Approx. $145,376 (Not including taxes & insurance)