Bill's Connect Realty Blog

The virtual office technology for Connect Realty brokers is being installed on servers as this is being drafted. Roll out is scheduled for March 1. This is a terrific benefit to Connect Realty brokers.. all this included in the annual affiliation cost of $300. Anyone with experience knows that this is a huge bargain!

Technology of and by itself won't create more business.. but used properly it can make you far more productive.. and now, as Connect Realty Broker, you can have it all for almost no cost! Click on the little screen at the bottom right of the viewer to expand the video to a full page view!

With the passage of the most recent economic "bailout", America has almost certainly sealed its fate to become a nation with a very dim economic future. President Obama and our congressional "leadership" has failed us. The idea that we can borrow these enormous sums and somehow create financial strength with the kind and scope of proposed spending is prepostrous. Borrowing and spending these enormous amounts is like paying for ALL of your food, mortgage, clothing and entertainment with a credit card, while spending what income you generate in the meantime on "bad habits". Feels good while you still have an available line of credit... but payback is going to be very uncomfortable. When you accumulate the equivalent of a full years earnings on a credit card.. and you have no savings... what effect does that have on your future economic situation?

Wake up citizens. Our national deficit now approximates the entire ANNUAL Gross National Product. This is a plan for economic destruction. But that's not the worst of it. We have lived beyond our means far too long and now, adding this crushing additional debt to the already existing mountainous size of national debt, is a certain way to economic suicide. Our collective ignorance (or deranged arrogance) of basic economics is completely and utterly disgraceful. This latest round of "bailouts" adds more debt and "entitlement" program commitments than ever before! We are ACCELERATING our debt. It's like our congress and President are high on crack and feeling invincible, while ignoring common sense. We are all gonna go down if no one steps up and demand a return to sanity! This nation's citizen has watched too many America bashing movies and too many fictional TV programs and now, clearly, even our leadership can't distinguish between reality and pure fiction. Our "leadership" continues to deceive the masses with recent spending votes, while misleading the uninformed masses that all this is part of "hope" and "change" for our own good. In fact, these policies will lead us to utter destruction.

A Borrow more, spend more policy is NOT the path to a sound financial future- and when we realize the magnitude of this collosal mistake, it will be too late. It is doubtful we will recover without immense reduction in our standard of living.. Far too much of our collective incomes will be confiscated to pay back the excesses we have allowed congress to burden us with. In the past 5 years, Congress and the President have done more damage to America's future than any enemy beyond our borders could hope to inflict on us. And the damage has been massively increased within the past month. This lack of economic discipline will destroy our nation - and now subjects all of us to risks no one likes to think about. It will be used an excuse for IMMENSE central control over our economy and subject us to even more corruption that naturally follows where big government becomes "Big Brother".

Soon, our economy will become even more anemic, saddled with debt and inflation like we have never been through before. What America will look like in 10 years will be shocking. Islamic militants must be jubilant with the decisions this leadership is making.. as these policies will encourage and assist them in their desire to bring America into submission under Islam and Sharia. So much for freedom and liberty if that happens. College for your children? Only for the very wealthy. Small business opportunity? Capital will be unavailable.. growing a business will be exceptionally difficult- taxation will stifle internal growth and savings will be virtually impossible.. so we are left with a virtually bankrupted economy.

Here is a video that describes the reality we all will be going through. Our founders would be shocked at how quickly we allowed our government "leadership" to completely fall apart and usher in our economic destruction. (click on the little screen at the bottom right to maximize the screen)

So what do we do?

Educate your family, friends.. and remove the imposters from office who are destroying our country. VOTE for leaders who understand economics and who will make the hard choices the current class of clowns will not make. Until we CHANGE congress (the group that decides on federal spending priorities and amounts) we will continue to spiral into an economic cess pool the likes of which we have never seen, and may lead us into servitude.

Update: Obama has signed the gigantic "borrow and spend" bill. Congress voted on this before anyone in Congress had time to read it. Imagine our country's future under the "leadership" we now have. Here are some tidbits from the bill: Stimulus, or Pork?

Congress at work. Here are just a couple of the ideas this crafty group of politicians have come up with to "stimulate" the economy. Of course, most of the pork they wish to purloin from the taxpayer pocket will result in very little long term stimulus-and is much better described as a political payback act. IN Oregon, here is a list (by city) of some of the "must have" spending that is deemed... "critical" to generating economic recovery. Do you see much in the way of sustainable and economically warranted stimulus- real job creation?

Homebuyer Tax Credit: The bill increases the $7,500 tax credit to first time homebuyers to a maximum of $8,000, but in a major change it does not require repayment of the $8,000. The credit is available to those with adjusted gross incomes or no more than $75,000 or $150,000 if married and phases out up to $95,000 and $170,000 if married. The definition of "first time" homebuyer is actually someone who hasn't purchased a house in the last 3 years. In an effort to assist with home stabilization, the bill will force a recapture of the entire $8,000 tax credit if they home is sold within 3 years of purchase.

FHA, Freddie Mac & Fannie Mae Loan Limits: The bill extends the increase in loan limits that were passed in 2008. The limits are 125% of the median home price for the local area for FHA and $417,000 for Fannie and Freddie. There are certain areas of the country where these limits are higher, however. For example, Ventura County, California has a limit of $729,750 for both FHA and Fannie & Freddie--the maximum cap allowed.

Neighborhood Stabilization:An additional $2 billion has been allocated to the Neighborhood Stabilization Program (NSP). This is an extension of the Community Development Block Grant whereby Realtors and investment groups can team with municipalities to purchase foreclosed homes in blighted areas and then resell them to families at or below 120% of the area median income, with 25% of the funds being used to families below 50% of the area income.

USDA: There's another $500 million for the existing USDA Rural Housing program. That's basically the only 100% program out there, so the extra half a billion sure will help get more people financed.

FNMA released guideline changes recently.. They've decided that investors aren't that bad after all.  Well, those with deep pockets anyway!  Imagine that.

FNMA recently limited investors to 4 loans total- for 1-4 units. The limit has been raised to 10 loans. 

There are some added conditions, however.  Here is a link to find more info on FNMA investor loan guideline changes.