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The Economy, Future Job Cuts and Real Estate

Sunday, November 9th, 2008

The economy">Economy, Future Job Cuts and Real Estate

If you read this article it will explain about the mounting foreclosures coming due to the increasing job losses across the country. It’s one of the leading problems for the growing epedemic of foreclosures. Due to people falling behind on their mortgages, they are often caught with the decision to do a mn short sale http://money.cnn.com/2008/11/04/real_estate/job_losses_fuel_foreclosure/index.htm?postversion=2008110705

After you read this article about the increase in foreclosures, you’ll wonder how many job losses are we talking about, and how many and what’s the scope of the job losses. It’s important to read these articles because it relates not only to you, or could soon relate to you, it will likely relate to a family member or relative very soon. With just over 5 minutes of research I was able to find articles everywhere about thousands and thousands of job cuts, and not only that, it seems to be the fastest growing headlines on some of the more popular news sites now. What I am finding amazing about it is that it’s very large companies that are doing the layoffs, and they % of the work force they are laying off is quite large. One solution I am trying to help people out with is access to easy 24 hour loans and business lines of credit, since people are looking for ways to get more money loaned to them right now. If you are behind on your mortgage and owe too much on your house and need to do a minnesota short sale, please contact me 763-546-9090 Ron.

http://money.cnn.com/2008/11/04/real_estate/job_losses_fuel_foreclosure/index.htm?postversion=2008110705
http://biz.yahoo.com/ap/081107/economy">economy.html
http://biz.yahoo.com/ap/081107/earns_gm.html
http://biz.yahoo.com/ap/081107/earns_ford.html
http://news.yahoo.com/s/ap/20081106/ap_on_bi_ge/fidelity_job_cuts
http://www.newsobserver.com/business/story/1262626.html
http://valleywag.com/5064258/yahoo-to-cut-3500-jobs-++-party-on
http://money.cnn.com/2008/10/23/news/companies/goldman_jobs/
http://news.cnet.com/8301-1001_3-10074198-92.html
http://www.paidcontent.org/entry/419-call-of-the-times-time-inc-to-cut-600-jobs-6-percent-of-staff/
http://www.npr.org/templates/story/story.php?storyId=95970691
http://www.msnbc.msn.com/id/10946664/
http://www.bizjournals.com/sanfrancisco/stories/2008/11/03/daily81.html?ana=from_rss
http://www.reuters.com/article/GCA-autos/idUSTRE49U4AJ20081031
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2008/11/04/BUOB13TB0G.DTL
http://www.snopes.com/politics/business/storeclosings.asp
http://www.usatoday.com/money/industries/retail/2008-05-01-home-depot-disney-store-closings_N.htm
http://www.starbucks.com/aboutus/USStoreClosureInfo.pdf
http://seattlepi.nwsource.com/business/369152_starbucks02.html
http://www.businessweek.com/bwdaily/dnflash/content/oct2008/db20081020_022663.htm
http://www.boston.com/business/articles/2008/10/04/pace_of_us_job_losses_picks_up/
http://www.msnbc.msn.com/id/20396081/
http://www.marketwatch.com/news/story/job-cuts-signaling-end-americas/story.aspx?guid={AC857D6D-5557-4EF9-BAF6-29A95C7BC540}
http://www.nytimes.com/2008/10/31/technology/companies/31motorola.html?partner=rssnyt&emc=rss
http://money.cnn.com/2008/10/22/news/companies/merck_earns.ap/
http://news.zdnet.com/2100-9595_22-158271.html
http://blog.searchenginewatch.com/blog/081020-083040
http://www.msnbc.msn.com/id/27455315/
http://www.baltimoresun.com/business/bal-bz.legg30oct30,0,1026705.story
http://money.cnn.com/galleries/2008/smallbusiness/0811/gallery.smallbiz_jobs.smb/index.html
http://money.cnn.com/2008/11/04/pf/forecast_job5.moneymag/index.htm?postversion=2008110709
http://biz.yahoo.com/ap/081110/eu_germany_deutsche_post.html

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Short Sale Homes-7.5 million homeowners underwater!

Friday, October 31st, 2008

Short Sale Homes Homeowners Underwater

Have you read the most recent money article out today?

http://money.cnn.com/2008/10/30/real_estate/underwater_borrowers/index.htm?postversion=2008103108

The increase in homes underwater is making more people need to do a short sale on their home, these minnesota short sale homes as seen here: http://www.minnesotainvestors.com/blog/what-short-sale-information-minnesota-short-sale-process/ are reducing what’s owing to the bank so that they can sell the house to an interested party for the new price needed in today’s market.

This article goes on to say this:

“Nearly a fifth of U.S. borrowers owe more on their mortgages than their homes are currently worth - and that number is growing.”

This means sellers would have to bring a check to closing just to get out of the home at the closing to pay off the 1st and or 2nd mortgages. This is also known as negative equity or being underwater with your house. You can’t tap equity or take out a home equity loan in these cases. Estimates are now over 12 million who may have a house underwater financially. Nevada was the state that was hit the hardest, values dropped 30% in the past 12 months, leaving 48% of homeowners with negative equity, that’s incredible. Even those who put 20% down are having a hard time getting out in those states. Arizone, Florida, and California are also big housing bubble states. Some other states near the midwest are also in trouble due to the economy">economy and job losses over the years.

If you think you owe too much on your home, are behind in payments, in foreclosure, or not sure how you will ever be able to sell based on your current condition, please read this article:

http://www.minnesotainvestors.com/blog/what-short-sale-information-minnesota-short-sale-process/

Ron Orr, Jr.
Real Estate Broker
MinnesotaInvestors.com