Blog post: This post is the result of a request for comment by one our elected federal government officials The question was, how did we feel about having the government require all mortgage financing start with a 20% down payment from the buyer. Here is my response:
There is no reason why properly qualified buyers should be excluded from a home purchase just because EVERY buyer must have a 20% down payment.
The cause of the mess we are in is the lack of government supervision of the financial and investment industries….including a ‘look away from it’ attitude by the governing committees that should have been on top of this.
There are plenty of qualified buyers with excellent and verifiable incomes deserving of home ownership.
Instead of continuing to find ‘solutions’ by punishing those who are financially capable…why not bring to trial the crooks who let this come to pass? Their names are out there, and yet not one has been tried. And the banking and investment communities continue to reap incredible profits due to the backroom, hurry up, bailouts.
There is nothing right about what happened, what caused it to happen, and what you ‘leaders’ think will fix it. Get off the fence and start to charge the white collar crooks with crimes.
ALAMEDA REAL ESTATE THIS WEEK….
My clients put their home at 316 Sunset Road on the market last Sunday night. A rancher, 3/2, for 539K. Click on the link to get to the website. We’re still waiting on the virtual tour to be shot…lack of sun for a few days has delayed that effort. Since Sunset is the first right west of Grand Street, that means photos of the beach/shore/kitesurfers should be included! It will be held open by one of my associates this Sunday 2-4pm.
305 Court Street went pending this past week.
I was tending to family stuff in S CA. from Monday through this morning: checking in on Dad and his wife, meeting up with my brother from FL who came in for some biz meetings and to see the folks. It was good all around. So this week’s post will be brief. I wasn’t here for the broker tour so can’t report on what was out there other than giving you the list.
Unsold inventory this week..186, 188 last report
Pending sales this week..107, 103 last report
Broker Tour 12 with 3 repeats
Highest and Lowest Priced NEW listings
BOM (Back on Market) 2
Repositioned Properties (price changes) 12
Sold 15 corrected! 6-15-11
ALAMEDA REAL ESTATE AWARDS THIS WEEK….remember this is only my perspective!
None –wasn’t on the tour this week.
THAT’S A WRAP! CARRY ON! I HEAR THE WEATHER SHOULD BE GREAT! ENJOY!