10 Christmas Presents For The Real Estate Market

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If there were such a thing as gifts for the real estate market, here is what I would ask of Santa for Christmas:

  1. Continued record low interest rates so more Americans can fulfill their dream of home ownership.

  2. Relaxation of the Dodd-Frank legislation that Congress passed. This would stimulate and streamline the lending process and allow better communication between parties involved in a real estate transaction.

  3. Continuation on the tax forgiveness for short sales and foreclosures so that misfortune is not compounded.

  4. A gift that has already been received is Congress passing the Federal Flood Insurance Act for another five years, allowing homeowners in flood-prone areas to protect their homes.

  5. Swift decisions by lending institutions on short sales. Some decisions have taken as long as six months.

  6. Allowing real estate agents and lenders to again communicate with appraisers, give pertinent information to an appraiser, which aids them in giving a balanced appraisal.

  7. Preservation of the mortgage tax deductions for homeowners.

  8. Growth in the new home market so there are more housing choices and construction workers can go back to work.

  9. Stability in the federal government so consumer confidence returns.

  10. Having home prices reflect the reality of their replacement value.

Ray Pugel is a designated broker with Coldwell Banker Bishop Realty. Contact him at (928) 474-2216.

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