Thursday Poll – What’s Your Opinion On Lenders Bailing Out Borrowers?

If you’ve looked at properties for sale in Loudoun County lately, you would have noticed that the number of foreclosure properties is on the rise. This is not just a local phenomenon, it’s across the board. As the number of borrowers facing foreclosure continues to rise, lenders and advocacy groups such as Countrywide and NACA are coming up with programs aimed at helping borrowers avoid foreclosure. These programs were orginally aimed at those who have adjusting ARMs. But some of the new initiatives and programs are going to cover anyone facing foreclosure, whether they have a prime, subprime, fixed or adjustable rate mortgage.

There are is definitely a difference of opinion when it comes to what should or should not be done about those facing foreclosure as evident in a Washington Post article entitled "Dueling Approaches to Foreclosure Relief". That brings us to today’s poll:

Thursday Poll – The Fed’s Rate Cut and Your Decision To Buy A House

The Fed recently cut their rate by 50 basis points and the cut has had mixed reviews.  Although many say that the cut wasn’t due to slowing buyer demand, we’re curious as to whether it has had any impact on your decision to buy a house.

Thursday Poll – What did the Mortgage Crisis do to Loudoun County Home Prices?

In the third quarter of this year, the biggest story in real estate was the Mortgage Crisis.  And while the majority of the attention was given to sub-prime loans, the rates for jumbo loans (mortgages over $417,000) spiked up during this time period.  And with the majority of homes in Loudoun County priced in the Jumbo category, we are wondering what impact it will have on prices in Loudoun County.

So the Thursday Poll this week asks the question:

We will publish a post giving the actual change in median prices in the beginning of January.

And yes, we forgot to publish the poll yesterday (Thursday). But better late than never.

Thursday Poll: Pick an Agent

In the last 12 to 18 months, the Internet has surpassed print advertising as the number one source of real estate marketing in many areas of the country.  Loudoun County is no exception.  The print ads in the local papers keep dwindling and the number of websites offering listings to search keeps growing.

And with that shift, there are many more online resources available for buyers and sellers of real estate to use in their search for a real estate agent.  However, these resources are not as obvious or informative as some of the sites that show properties for sale.  It takes a little more creativity and investigation to research a real estate agent.  Unfortunately a photo of an agent isn’t going to tell you what you want to know the way a photo of a kitchen will.  And there is no single resource available that can give you answers to questions like expertise, marketing resources, neighborhood knowledge, negotiating skills, etc.

But there are ways to use the internet to get a better picture of an agent than "They have a nice sign" or "They helped by aunt and uncle find a house 6 years ago". 

So this weeks poll asks the question (multiple choice):

A lot of these choices are easy to use and can be very helpful in getting a better picture of an agent and their business.  Others, however, are a bit more elusive.  But there is a new website that will allow and agent to provide a wealth of information to prospective buyers and sellers.  Here is a link to my profile on this new site, clipREAL.com

Thursday Poll – Is Life Better Than It Was A Year Ago?

Watching CNBC this morning, there were a lot of talking heads saying that the stock market was in turmoil, but that the economy was doing fine and that the only thing to worry about was the credit crunch for lenders such as Countrywide.  The Federal Reserve has used the strength of the economy as a reason for not lowering interest rates. 

I am thinking that there is a disconnect between what they think is happening to the actual people of America and what their numbers tell them.  As a real estate agent, I know that I am not doing as well this year as I was last year and that is the case with most of my fellow agents.  I also don’t see the future looking too bright.  But maybe I’m wrong.

This weeks poll asks the question:

Thursday Poll-New Homes vs Existing Homes; Which One Is A Better Value?

Thursday Poll-How Much Research Time Would You Need Before Actually Putting Your House Up For Sale?

Thursday Poll-Have Interest Rates Effected Your Decision To Buy Real Estate?

Thursday Poll-Are You Happy With Current Real Estate Listing Sites?

Related Articles:

List of Listing Sites

Zillow, Trulia and now…Google?

Zillow Beats Out Yahoo Real Estate; Realtor.com Still King

Thursday Poll-As A Home Buyer, How Do You Search For Properties?

This week’s poll – As a home buyer in Loudoun County, how do you search for properties (choose all that apply)?

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