February 10, 2012
- DISASTER ON THE HORIZON. Greg Rand of WABC, New York comments on the Federal Government’s new initiative to convert foreclosures into rentals. “Shawn Donovan, head of HUD is a lifelong promoter of affordable housing, a good thing, contingent upon how you go about it. He favors command and control ideas and has no faith in the private sector. The idea is to sell 250,000 single family homes to a handful of investors at a deep discount (30 or 50 cents on the dollar). Investors are already buying these properties, so why do it? There are strings attached. You have to convert the property to rental, then market at below market rental rates. So check who these few investors are – campaign contributors? Crony capitalism? There is a potential for destroying the rental market by oversupply and potential problems with a new form of “projects”. If they settle on 1 or 2 cities, run away from those cities.”
- Corelogic reports that home prices fell 5% in 2011.
- Personal bankruptcy filings fell 16% in Massachusetts in 2011.
- School Boundaries is a widget for your website that will find the exact school district assignment for any home.
- The WAV Group Report in conjunction with Nielsen Survey of Zillow and Trulia showed the following percentages of audience:
125 million ages 25-64 2.8% 7.8%
63 million w/income above $75,000 3.2% 8.5%
94 million married couples 2.8% 7.5%
49 million college & post college grads 3.7% 9.7%
45 million mobile users 3.9% 9.6%
40 million with savings above $50,000 3.1% 8.6%
32 million in the Northeast 3.2% 6.5%