Facebook Tips for Real People

Facebook is here to stay, for the moment at least...well, remember My Space?

But while it's here, make the most of it to enrich your life and your community.

Don't shoot for the 5000 friend maximum.  It you can't put a face to the name, you probably should "unfriend" them...don't worry, unless they're very tech savvy they'll never notice and if they do, maybe they're worth knowing and adding back.  

Focus instead on developing around 300 to 500 online friends within your immediate community, your family, your work, your interests and those with whom you, no kidding, want to keep up with. 

Then comment in thoughtful ways after carefully reading and understanding what they post and what's going on in their lives.  Focus on their successes and improving your community, then: Get Involved in the Real World:  Join a civic group, church, adopt a pet, volunteer--anything to start expanding your circle of friends IN PERSON.

Make Facebook a tool, not an occupation.

10 Lessons Learned as Housing Recovers

Headlines abound: The Housing Bust is over… 

Housing has hit bottom and is turning around.  Realtors, homeowners, renters, and all Americans are sighing with collective relief.  If they're correct.

But first we need to pause and consider what we've learned in the last few years:

1  The economy is global.  The mess in Europe has to be resolved for the U S to see a sustained economic recovery and sustained housing recovery.

2 The folks in Washington D.C. must get their act together, work together and begin to resolve the economic issues facing the nation.  Fiscal cliffs, increased government spending and borrowing from China to support that spending do not bolster consumer confidence or boost the economy. 

3 The economy cannot recover without housing. Good News: the stock prices of the major U. S. home builders are up and they are beginning to build again. That puts Americans to work and guess what, if you have a job, that's the first step to buying your  own house.   

4 Homeowners confidence in the economy is directly related the value of their own homes.

5 Everyone needs shelter, but not everyone needs to own their shelter.  The American dream of owning your own home may not be appropriate for everyone.

6 High home ownership rates are important but they must be sustainable.  Owners must be able to afford their homes in the long run.

7 Home prices go UP and go DOWN.  If home prices have bottomed, they're likely to remain stable for some time.  Increases for the foreseeable future are likely to mirror the rate of inflation for most areas, but there'll be exceptions of course.

8 The process of purchasing/financing a home is more complicated now than ever before and will remain so. Sound  mortgage underwriting is critical.  Prospective buyers must be prepared for a detailed application process to get a mortgage. Expect every fact and every document to be verified. 

9 Home equity should not be used for ordinary living expenses.  We're not likely to see the days of taking out equity every few years.  

10 Financial reserves for families, companies, and countries are necessary.

What is important is that we remember what happened as we prepare to write the future.  Most importantly, we should also have a sense of accomplishment that we endured these life lessons.

There are seasons in the weather: spring, summer, fall and winter.  So there are in economic cycles.  It is great to be at the thaw of winter and the budding of spring.

U..S. Home Prices Showing Consistent Gains

Finally, home prices across the country are showing consistent increases most likely due to a decline in foreclosures and the lowest mortgage rates in history.  In fact, some of the cities hardest hit by the real estate bust have seen impressive price increases: Phoenix up nearly 14 percent, Miami up 4.4 percent. 


Even with these gains, prices have a long way to go to recover from their plunge during the housing bust of 2006-2008.  Nationally prices were down 31.6 percent below the April 2006 peak, based on the S&P/CaseShiller index which covers about half of U. S. homes.
 
And keep in mind we're not yet seeing price increases in the Grand Strand market, though we are seeing more sales.  What's holding us back?  Possibly that we have more second homes and investment properties, categories that have more distressed inventory.

National Flood Insurance Re-Authorized

The Biggert-Waters Flood Insurance Reform Act of 2012 was passed late last week as part of a transportation funding bill and signed into law by the president on July 6, 2012. The legislation extends National Flood Insurance Program (NFIP) authority through September 30, 2017.


This 5 year re-authorization of the National Flood Insurance Program ensures access to affordable flood insurance for millions of home and business owners across the country. The 5-year re-authorization will end the uncertainty of NFIP stopgap extensions and shutdowns.


This legislation is especially important to Grand Strand property owners as flood insurance is required for mortgages. Without NFIP flood insurance rates would sky rocket, pricing many out of the market and further depressing coastal South Carolina prices.

Help For SC Home Owners Facing Foreclosure

Need help with your mortgage?

The S.C. Homeownership and Employment Lending Program has given about $26 million in aid to South Carolinians facing foreclosure since January 2011, but that's not even 10 percent of the $295 million it was given by the U.S. Treasury after South Carolina became one of five states to qualify in 2010 for the Obama administration's "Hardest-Hit Fund," based on high unemployment rates


Aid per home is capped at $36,000, meaning the program still has the resources to help you or someone you know.


The program has been endorsed by most of the large lenders in the state, including Citibank, Bank of America and Wells Fargo.


Applicants must meet at least one of several criteria: being unemployed, underemployed, dealing with the death of a spouse or facing unforeseen health issues.

The program is a nonprofit division of the SC state Housing Finance and Development Authority.

For more information: www.scmortgagehelp.com

But hurry,Whatever money SC HELP has left after 2017 must be returned to the U.S. Treasury.

.

Harvard: Home Sales Finally Poised to Improve

Harvard: Home Sales Finally Poised to Improve


Click the link above to read the article...

Forecosures Take Big Jump in 1st Quarter

In the first quarter of 2012, Horry County foreclosure filings were up 95% compared to last year with about 1460, most of which were lis pendens, the papers lenders file to start the foreclosure process.  About 1 out of every 127 properties in the state has a foreclosure filing, the 3rd highest in the state and the 10th highest in the nation.

What brought about the jump?  The economy is still weak and some of increase is those folks who were struggling to keep ahead and now they've had to let go.  Also federal and state lawsuits against 5 of the largest lenders has been settled, so a lot of pending foreclosures moved to foreclosure. 

The foreclosures continue to push down prices, in March the median price of a home or condo along the Grand Strand was $130,000 down 10.3 % from the same month last year.  With the tough financing environment, it's investors who are keeping the market going, paying cash--51 % of 1st quarter sales were cash.