The Effect Of Unemployment Upon Housing For 2010

Here is anothor great article, support my opinion why the housing market has not hit bottom, and the buying opportunities has just begun for this wanting to buy a home in the Inland Empire.

Carlos Samaniego

I have said it before and I’ll say it again.  The real estate market has NOT YET HIT BOTTOM for a number of reasons.  Yes, it has gotten better…and that’s how the ancient civilizations felt when they were in the eye of the hurricane…  Well we have a lot of negative conditions that are still unfolding,and unemployment is just one of them…

Via John Mulkey, Housing Guru (

man with boxFor the eighth consecutive month, year over year job losses have increased in all 372 U.S. metropolitan areas, and many are concerned about the effect of unemployment upon housing for 2010. How do job losses relate to the recovery and, more importantly, to the coming year? As a lagging indicator, employment is said to follow the economy, so it’s logical that we not expect joblessness to decline until the economy is improving. However, while employment may follow economic trends, it is an important indicator of what we can expect in the short term; and the relationship to the housing market is especially important for those of us in real estate related businesses.


With more people out of work since the Great Depression, housing has struggled. Lenders in some areas have been so consumed by foreclosures that many of their customers remain in their homes more than a year after having stopped making mortgage payments. And requests for short sales have been overwhelming, with banks sometimes taking months to respond, if they respond at all. In many cases lenders have proceeded to foreclosure even after agreeing to work with a short sale.


We’re all aware that the housing boom is over; what some fail to admit is that it’s not returning—ever.   We’re faced with a new market that will require different tools and strategies.  The old market that flourisned and grew into a housing bubble was created artificially, just like the “stabilization” of the market that has recently been declared. Five years ago we weren’t selling homes because the economy was experiencing explosive growth; homes were sold because we experienced an explosive growth in the availability of easy money. And now we’re attempting to stimulate the market in a different fashion.  It won’t work.


While the First Time Buyer Tax Credit added about 350,000 additional sales, those sales were purchased by the taxpayer for approximately $43,000 each. Even if the program is extended—and there are some indications from Congress that an extension of some sort may be in the offing—it will do little to restore a market struggling under the weight of enough foreclosures to equal more than a year of sales.


Jobs must be created; and when we see positive growth in the jobs numbers, we’ll begin to experience true stabilization. Until then, it’s best to remain lean and to work to define our piece of the “new economy.”

Source: Bureau of Labor Statistics

Credit Report Card: A Truly Free Look at Your Credit Record


Crcsnapshot If you are looking to get an easy to undertand excutive snapshot of your credit anytime, no cost, or negative markes for checking. Take a look at this great resource.

Carlos Samaniego

In early 2009, contracted me to blog for them after they read a post I wrote on Boing Boing about my unpleasant experience with

Today, launched a new and truly free online tool called Credit Report Card, which gives you an easy-to-understand snapshot of your credit report, along with estimated scores from the different reporting agencies. It clearly shows you how your credit score was calculated, along with suggested steps for taking action in each of the five main areas that make up your credit ratings. It does a great job of clearing up the mystery of credit scores and has made me more conscious of how my financial behavior and decisions affect my credit score.

Side note: This kind of transparency is terrific — I hate it when giant institutions have information about me that I don’t have ready access to. That’s why I ran a how-to article on making a magnetic card stripe reader in Make magazine, which I edit. People should be allowed to see what kind of information is being stored on their own credit cards!

Above is a screenshot of what’s Credit Report Card looks like. It’s my own credit report card. (I’m only showing the top part of the report card, as I don’t want to share my personal data) As you can see, I have excellent credit :), but I’ve made too many “Inquiries” in the past year, which has knocked my overall rating down a bit.

Interestingly, the day after I generated my Credit Report Card, I went to Macy’s to buy a gift for my wife. The sales clerk wanted me to apply for a Macy’s credit card, promising all sorts of discounts on this and future purchases. If I hadn’t used Credit Report Card, I might have taken her up on the offer, which might have damaged my credit rating. So this tool has come in handy already.

The FAQ for Credit Report Card (linked from the front page) will answer the most obvious questions (executive summary = it’s free; using it won’t affect your credit score; you can request a new report card every 30 days; there are no strings attached; and the data you provide to generate your report will not be used for any other purpose).

Give Credit Report Card a try, and let me know what you think of it!

by: Mark Frauenfelder – Editor-in-chief of MAKE magazine and the founder of the popular Boing Boing weblog, Mark was an editor at Wired from 1993-1998 and is the founding editor of Wired Online.

Foreclosure will be increasing! Period!

A couple of weeks ago, while speaking at one my workshops. I said that in my opinion I believe foreclosures/short sales will be increasing dramatically in next couple years!

He actually shouted out, “I’m Crazy!” I was kinda taken by surprised, but then I explained my reasoning. When I was done he believed me…

Well I just found video by Glenn Beck I believe, he say’s exactly what I been saying for last year!


Carlos Samaniego

P.S. If you interested in coming to our next foreclosure workshop learning how to buy these properties click the link above that say’s foreclosure workshop.

Fight in Congress Looms on Tax Break for Home Buyers

Call your congressman today and let's help push this program to be extended to next summer! This is helping our economy, getting new homeowners into house saving people from foreclosure, and providing a living for entire industry.

If you want to learn more about this tax credit and how to buy foreclosure at our workshop, go to:
Please put me on your VIP Forclosure Notification List Click Here

Your friend,
Carlos Samaniego, CMPS

Fight in Congress Looms on Tax Break for Home Buyers