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Home · Property Management · Financing : Readers Create Recipe for Housing Recovery

by Ilyce R. Glink, Inman News
Editor’s note: Inman News readers responded to a call by columnist Ilyce Glink on possible ways to get the housing market back on track. Inman News has launched a future-focused editorial project, Roadmap to Recovery, to explore the best path for the industry to follow. Click here for details.MendingA few weeks ago, I put forth a few ideas on how to fix the real estate market. I invited readers to respond with their own suggestions. Here are some of their ideas (edited for space and clarity):

1. We could ask Bill Gates and Warren Buffett to purchase all the foreclosed homes.

2. I think the best way to stabilize (the housing market) is to get houses selling again. And the best way to get houses selling again is for the cities to lower the taxes levied based on a realistic assessment value. Also, if FHA would provide low-interest loans for all buyers, homeowners as well as investors (I’m talking about loans in the 4 percent range), then the excess inventory would dry up and prices would go up. After a couple of years, that interest rate could increase a little bit. But rather than selling T-bonds and T-bills, use that money directly to finance home loans.

3. Please look into the changing real estate market and how pre-sale inspections help expedite and sell homes in this slow market. There are very few buyers, lots of listings, and you need to inspect, repair, and/or disclose problems to prevent the dreaded deal-killers. If you’re serious about selling or helping someone sell their property, it’s stupid not to do a pre-listing home inspection. You’ll get a big bang for little bucks.

To get even more valuable advice from Ilyce, visit her Personal Finance and Real Estate Center.

What’s your opinion? Leave your comments below or send a letter to the editor. To contact the writer, click the byline at the top of the story.

Copyright 2008 Ilyce R. Glink



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