housing crash

http://realtytimes.com/rtnews/rtcpages/20030307_futures.htm


excerpts below ....


- a $5 million federally funded experimental housing futures contract called Home Equity Protection Program (HEP) which is available only to qualified Syracuse, NY home owners and buyers.-

-Participants must hold their home for at least three years.-

-The maximum protection program participants can buy is 150 percent of the current assessed value of the property or $200,000, whichever is less.-

-The pilot program will pay out only if the contract holder can demonstrate hardship, "such as loss of employment or serious illness" which forces the sale of the home. The program determines if the hardship is sufficient to warrant a pay out. Foreclosure is also excluded.-

-There could be other unwritten exclusions.-
 
Midas, I live in lakewood ranch, have a realtor license and a ca law license. Any chance you would help get started doing what you doing around my neck of the woods. Affordable housing sells in nano seconds here. I had a 240,000 dollar listing that had 40 calls from realtors the first two days. And got an offer the first day.

Obviously my first concern would be the price of the land and proximity to the 75, but I would be willing to go a little north south or east.
 
where might one get monthly historical long term median home prices for select cities/ countys / states for the last 20 yrs ?

why is this data hard to come by compared to

stock market data?
 
even W.B. must think R.E. is a bubble

saw this on forbes site today

-In 2003, the local assessor pegged its value at nearly $700,000. Buffett disagreed--he thought it was worth closer to $500,000. -

:p
 
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