Thank You to all Veterans

Thank you to my grandfather and all veterans past and present, here and abroad. You gave the greatest sacrifice of all – your life – so all of us could be here today enjoying our freedom and way of life.

And let us never forget the cost of war – human life – and the amount of blood that has been and is still being shed every day.

Obama and the Housing Market, Loudoun County and Beyond

Many homeowners are wondering how President-Elect Barack Obama will tackle the housing and credit markets and the affect of that on them personally. That's a question I don't have the exact answer to (nor does anyone really), but there's a good blog post about this topic by Jeremy Hart over at NRVLiving that talks about some of the things that Obama is planning on doing once he takes office.

Here's an exerpt:

"So what's an Obama administration mean to the housing market?  Well, his website lays out a plan:

Protect Homeownership and Crack Down on Mortgage Fraud – Obama and Biden will crack down on fraudulent brokers and lenders. They will also make sure homebuyers have honest and complete information about their mortgage options, and they will give a tax credit to all middle-class homeowners.

• Create a Universal Mortgage Credit: Obama and Biden will create a 10 percent universal mortgage credit to provide homeowners who do not itemize tax relief. This credit will provide an average of $500 to 10 million homeowners, the majority of whom earn less than $50,000 per year.
• Ensure More Accountability in the Subprime Mortgage Industry: Obama has been closely monitoring the subprime mortgage situation for years, and introduced comprehensive legislation over a year ago to fight mortgage fraud and protect consumers against abusive lending practices. Obama's STOP FRAUD Act provides the first federal definition of mortgage fraud, increases funding for federal and state law enforcement programs, creates new criminal penalties for mortgage professionals found guilty of fraud, and requires industry insiders to report suspicious activity.
• Mandate Accurate Loan Disclosure: Obama and Biden will create a Homeowner Obligation Made Explicit (HOME) score, which will provide potential borrowers with a simplified, standardized borrower metric (similar to APR) for home mortgages. The HOME score will allow individuals to easily compare various mortgage products and understand the full cost of the loan.
• Close Bankruptcy Loophole for Mortgage Companies: Obama and Biden will work to eliminate the provision that prevents bankruptcy courts from modifying an individual's mortgage payments. They believe that the subprime mortgage industry, which has engaged in dangerous and sometimes unscrupulous business practices, should not be shielded by outdated federal law."

There's another post over at VARbuzz enitled, "How will the Obama Administration affect the real estate industry? Dr. Paul Light et. al. explain". It considers both the good and bad. Worth the read.

On a side note…There's a survey at VARbuzz that asks the question, "How will the election of Barack Obama affect the real estate economy". Take a moment to check out the survey and see what the results of the survery are so far. (It's at the top of the very right hand column of VARbuzz's home page)