Homes For Rent In York Pa

What Housing Bubble?

We have been told for months even years that it is the housing bubble that burst on to the scene a few years back. We have been told that the greedy lenders caused all the problems. Basically they loaned money to families to buy a home and they could not afford the home.

Have you seen the ad by a real estate group that states something about the sale of one home creates one job? So the discussion today will focus on how the bursting of the housing bubble was not related to the economy. In other words, what the pundits want you to buy into is that some how the price of homes were being driven up for no reason what so ever and it reached this magical ceiling and it all came crashing down. So a house that was worth $100,000 in July 2008 was worth about $66,000 in August 2008. That's 30 days later. This column will prove that the reduction could not happen due to market conditions. 

Now for the average Joe, this doesn't make any sense does it!

For Obama and his cohorts when they are not out playing golf can't quite figure out how to fix the economy. All they have to do is look in their own backyard, or better yet your backyard.

Let's get a little emotional here, If you are paying the mortgage on a home that you purchased for $100,000 and now find out that you are paying a mortgage on a home that is magically worth less than what you paid for it, how does that make you feel?  And should you continue to pay the mortgage?

If you are not happy now, just wait a few minutes and find out who stole the $30,000 of asset from you and your family! And what does this all mean to the economy!

First off in my famous book I reveal real numbers and proof how the Democrats burst the make believe housing bubble so that the Democrats could win the Senate, House and the Presidency in 2008. Dr. Phil offered all kinds of proof. And if you want to see the appraisals etc. you can see for yourself that there was no bursting. The banks got together and screwed the same folks that paid for the alleged bailout. If you need to see the proof just email me.

8 Must Have Numbers For Evaluating A Real Estate ... - CR Property

Rock bottom real estate prices are enticing some novice real estate investors into the market. But before you join the ranks of landlords, be sure you have a strong grasp of the financial information that can make the difference between becoming the next Donald Trump and finding yourself in bankruptcy court. Here are eight real estate investing numbers you need to know.

1. Your Mortgage Payment For a standard owner-occupied home, lenders typically prefer a total debt-to-income ratio of 36%, but some will go up to 45% depending on other qualifying factors such as your credit score and cash reserves. This ratio compares your total gross monthly income with your monthly debt payment obligations. For the housing payment, lenders prefer a gross income-to-total housing payment of 28 to 33%, depending on other factors. For an investment property, Freddie Mac guidelines say that the maximum debt-to-income ratio is 45%.

2. Down Payment Requirements While owner-occupied properties can be financed with a mortgage and as little as 3.5% down for an FHA loan, investor mortgages typically require a down payment of 20 to 25% or sometimes as much as 40%. None of the down payment or closing costs for an investment property may be from gift funds. Individual lenders will determine how much you need to put down to qualify for a loan depending on your debt-to-income ratios, credit score, the property price and likely rent.

3. Rental Income to Qualify While you may assume that, since your tenant’s rent payments will (hopefully) cover your mortgage, you should not need extra income to qualify for the home loan. However, in order for the rent to be considered income, you must have a two-year history of managing investment properties, purchase rent loss insurance coverage for at least six months of gross monthly rent and any negative rental income from any rental properties must be considered as debt in the debt-to-income ratio.

4. Price to Income Ratio This ratio compared the median household price in an area to the median household income. Before the housing bubble burst, the price-to-income ratio in the U.S. was 2.75, while at the end of 2010 the ratio was 1.71. The average between 1989-2003 is 1.92 according to Fiserv, Inc., Federal Housing Finance Agency, Moody’s Analytics.

5. Price to Rent Ratio The price-to-rent ratio is a calculation that compares median home prices and median rents in a particular market. Simply divide the median house price by the median annual rent to generate a ratio. At the peak of the U.S. market in 2006, the ratio for the U.S. was 18.46. The ratio dropped to 11.34 by the end of 2010. The long-term average (from 1989 to 2003) was 9.56. As a general rule of thumb, consumers should consider buying when the ratio is under 15 and rent when it is above 20. Markets with a high price/rent ratio usually do not offer as good an investment opportunity.

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