Steve Wisemiller Greater Metro D.C. Real Estate

Arlington Virginia Real Estate Statistics 2012

Steve Wisemiller,CRS — Sat, 11 Feb 2012 18:51:00 GMT

Buying?....Selling?..or just friendly advice. Call Steve for all your Arlington Real Estate needs. Arlington Resident...Arlington Realtor...17 years experience www.stevesellsarlingtonva.com Click link below for January 2012 Real Estate stats for Arlington. Arlington Va Real Estate Statistics Click below to search Arlington homes for sale. Click to Search Arlington Real Estate RE/MAX Allegiance, EHO Steve Wisemiller, CRS 703-568-9625 steve@soldbysteve.net www.soldbysteve.net...(read more)

Arlington Va Real Estate...

Steve Wisemiller,CRS — Fri, 10 Feb 2012 19:13:00 GMT

Steve knows Arlington, Va......16+ years experience Arlington Resident....Arlington Realtor Buying...Selling..or Just Friendly Advice.....call Steve * Buying * Selling * Leasing * Investments * 1031 Tax Exchanges * Special Incentives for Military, Seniors and Teachers www.stevesellsarlingtonva.com Click to Search Arlington Real Estate RE/MAX Allegiance, EHO Steve Wisemiller, CRS 703-568-9625 steve@soldbysteve.net www.soldbysteve.net...(read more)

Estate Sale Home In North Arlington...OPEN SUNDAY 1/16/2011

Steve Wisemiller,CRS — Fri, 14 Jan 2011 21:07:00 GMT

A Bargain price for this home...Minutes to Metro, Schools, Shopping and Parks!!! Click link http://arlingtonestatesalehome.novahomeexpert.com RE/MAX Allegiance, EHO Steve Wisemiller,CRS www.soldbysteve.net steve@soldbysteve.net 703-568-9625...(read more)

Open House in Arlington Va on Sunday

Steve Wisemiller,CRS — Fri, 14 Jan 2011 21:05:00 GMT

Berkshire, Arlington - We invite everyone to visit our open house at 6617 Little Falls Rd Arlington, Va on January 16 from 1:00 AM to 4:00 AM.

Property information

Arlington Virginia December Market Statistics

Steve Wisemiller,CRS — Wed, 05 Jan 2011 20:20:00 GMT

The Arlington Housing Market is chugging Along. Click link for latest stats http://www.rbintel.com/statistics/arlington-county-va Visit my home info center www.stevesellsarlingtonva.com Steve Wisemiller, CRS, ABR www.soldbysteve.net steve@soldbysteve.net 703-568-9625...(read more)

Short Sale or Foreclosure..Myths Revealed!

Steve Wisemiller,CRS — Wed, 05 Jan 2011 20:09:00 GMT

5 New Short Sale Myths - Busted! C ommon short sale myths once evidenced widespread confusion about what a short sale is - mostly misconceptions that they are quick, or faster than “normal” real estate transactions. In reality, the “short” in short sale has nothing to do with timing. Short sales usually take many multiples of time longer than traditional real estate deals - running anywhere from 3 to 8 months- plus , on average, from contract to closing! The only thing short...(read more)

Everything Real Estate in Arlington, Va

Steve Wisemiller,CRS — Tue, 02 Nov 2010 18:46:00 GMT

Visit this exciting web site. Things to do, Places to see and Real Estate Information for Arlington Va www.americantowns.com/va/arlington Steve Wisemiller, CRS RE/MAX Allegiance www.soldbysteve.net steve@soldbysteve.net...(read more)

Has the Housing Market Reached Bottom?

Steve Wisemiller,CRS — Sat, 16 Oct 2010 18:02:00 GMT

Daily Real Estate News | October 12, 2010 | addthis_pub = 'rmostaff'; addthis_logo = 'http://www.addthis.com/images/yourlogo.png'; addthis_logo_background = 'EFEFFF'; addthis_logo_color = '666699'; addthis_brand = ''; addthis_options = 'delicious, digg, favorites, facebook, fark, google, reddit, magnoliacom, newsvine, furl, yahoo, technorati, twitter, icerocket'; document.write(' Share '); Share Economists Say Housing at Bottom Beacon Economics analyzed home affordability and came away feeling optimistic....(read more)

Foreclosure Freeze in Arlington, Va 22207

Steve Wisemiller,CRS — Sat, 16 Oct 2010 17:47:00 GMT

. What is robo-signing is, and what all the fuss is about? The phrase robo-signing refers to what we’re now realizing has been a very common practice in the banks’ foreclosure document processing divisions, where one person was essentially given the job of signing as many 10,000 foreclosure documents per month, by hand. These individuals were supposed to be reviewing the files, making sure grounds for foreclosure actually existed, signing the docs in front of notaries. But because of...(read more)

Arlington County Virginia Fair

Steve Wisemiller,CRS — Wed, 11 Aug 2010 19:54:00 GMT

Come one..Come All!!! Lot's of fun at The Arlington County Fair. http://arlingtoncountyfair.us/index.html For all your Real Estate needs...... Search the local market www.homesdatabase.com/stevewisemiller Steve Wisemiller,CRS RE/MAX Allegiance www.soldbysteve.net steve@soldbysteve.net...(read more)

Arlington Virginia Market Statistics for June 2010

Steve Wisemiller,CRS — Sat, 10 Jul 2010 04:10:00 GMT

The Arlington market is still chugging along. Click link below to view the June Statistics http://www.mris.com/reports/stats/route.cfm Visit my Home Information Center. Free MLS and Foreclosure Search www.soldbysteve.net RE/MAX Allegiance, EHO Steve Wisemiller,CRS steve@soldbysteve.net www.soldbysteve.net 703-568-9625...(read more)

Miss the tax credit....no problem

Steve Wisemiller,CRS — Thu, 08 Jul 2010 18:51:00 GMT

Top 5: Why You Should Buy a Home Now...Even after the Tax Credit Why You Should Buy a Home Now…Even after the Tax Credit While much press coverage has been given to the recent first-time and move-up buyer tax credit, there are many time-sensitive factors that make the current climate an exceptional time to buy a home…even without the tax credit. As a Member of the Top 5 in Real Estate Network®, I have seen many real estate markets come and go, and I know for a fact that the many...(read more)

Arlington County Farmers Markets

Steve Wisemiller,CRS — Thu, 08 Jul 2010 18:28:00 GMT

It's that time of the year again. Fresh produce at it's finest. Visit a local farmers market and enjoy. Visit my home information center for all your Arlington real estate needs. www.stevesellsarlingtonva.com Here is a list of local Arlington County VA Farmers Markets . We have the complete listings to find the best markets and organic produce farmers markets in your area. Search for the Arlington County area fresh local produce and local food for your next dinner! Make sure you click through...(read more)

How is your credit rating..? Take the quiz

Steve Wisemiller,CRS — Wed, 07 Jul 2010 18:19:00 GMT

Do you Have Above-Average Credit?

Market Issues by Jeff Mandel and Marlin Brandt Print Article

RISMEDIA, July 11, 2009-Forty-two percent of U.S. consumers have credit scores between 550 and 699. As a result, these consumers typically don’t qualify for preferred interest rates and, depending on their overall credit profile, they may not even qualify for certain loans and credit cards. The primary challenge is that most consumers don’t understand what impacts their credit profile and, more importantly, don’t know what actions they can take to help improve it. This short quiz will help test how much you know about your credit profile and how it works.

1. To have the best credit profile impact, what is the maximum amount of your monthly credit line you should use?
a) 70%
b) 30%
c) 50%

2. What is the top contributing factor to what makes a good credit score?
a) Length of credit history
b) Amounts you owe
c) Payment history

3. If you pay 2% each month on your credit card (typical minimum payment), when will you pay off a $3,000 balance at 10% interest?
a) 18 years
b) 6 years
c) 3 years

4. After paying off a high-interest credit card, you should:
a) Continue using it occasionally
b) Close the account
c) Use the full amount of available credit every month

5. Applying for credit cards in order to just receive a free sign-up gift (t-shirts, mugs, etc.) has no impact on my credit profile?
True or False

6. Rewards points on credit cards are a good deal when:
a) I get cash back
b) I get free airline tickets
c) I carry no balance each month

7. To have a credit score, I must have at least one creditor reporting activity on my credit report for:
a) 12 months
b) 8 months
c) 6 months

8. Credit bureaus that manage your personal credit report data and credit scores are a:
a) Government entity
b) Non-profit agency
c) Regular business corporation

9. Banks and credit card companies think you are credit-worthy by how many credit offers you receive by mail?
True or False

10. Credit scores are used by lenders mainly to:
a) Tell how I compare to other consumers
b) Tell if I make my payments on time
c) Predict the likeliness that I will repay my loan on time

Answers: 1 – c, 2 – c, 3 – a, 4 – a, 5 – False, 6 – c, 7 – c, 8 – c, 9 – False, 10 – c

If you find you answered more than half of these questions wrong, you’re not alone. In a survey, we found that the majority of consumers do not know the answers to these and similar types of questions. On average, U.S. consumers have a total of 13 credit obligations on their credit report. These include installment loans (auto loans, mortgage loans, student loans, etc.) and credit cards (such as department store charge cards, gas cards, or bank cards). As a result of the numerous outstanding credit obligations, combined with the lack of proper knowledge and guidance about what impacts their credit profile, the average U.S. consumer ends up spending thousands of dollars on unnecessary interest expenses.

The good news is that it’s not too late. With a good understanding and proper guidance of how credit works, consumers can learn how to effectively manage their personal credit profile. Improvements can be obtained fairly rapidly with credit coaching services and the proper changes (no more trial-and-error stuff). Our survey group of customers who participated in a credit optimization and coaching service saw their credit scores increase by an average of 30 points in just four months as a result of more effectively managing their credit. More than ever, every responsible consumer should proactively evaluate, optimize and protect their credit before they have a required credit need or an issue arises.

FREE COMPREHENSIVE FORECLOSURE SEARCH SITE...NO REGISTRATION
VISIT WWW.SOLDBYSTEVE.NET CLICK LINK ON LEFT

Paying for Foreclosure Search Listing

Steve Wisemiller,CRS — Tue, 06 Jul 2010 04:47:00 GMT

Notice how many foreclosure search sites there are and how much they are charging.
A lot of times this information is inadequate or out of date...frustating
The information you are being chaged for you can receive free.

Visit my web site www.soldbysteve.net and click on my foreclosure search link. You will find
free information for contact numbers to REO properties, HUD foreclosures and lot's of resources to enlighten your investment parameters. There is no registration required. I also have the link for a great resource called "The Listing Book" You can personalize your home search in real time and it is interactive. View virtual tours, maps and community information.

Good Luck,

Steve Wisemiller
www.soldbysteve.net

North Arlington Broyhill Forest....Great Price!

Steve Wisemiller,CRS — Thu, 26 Nov 2009 14:51:00 GMT

Great Value!

• 2,500 sq. ft., 2 bath, 3 bdrm single story "Daylight Lower Level" - $624,500 - New Price

Broyhill Forest, Arlington - This lovely all brick Rambler is tucked away in a quaint neighborhood. Conveniently located to schools, shopping and numerous parks and recreational facilities. Just one light to D.C. Membership may be possibe in The Washington Golf and Country Club. The home is sited on a a 1/4 acre level lot and is ripe for renovation. There are multi million $$ homes in the area. There are also fixed stairs to a stand up attic for future verticle expansion. Sought after school pyramid. Hardwood floors grace the main level and a wood burning fireplace in the living room. An expansive rear deck is great for outdoor relaxation. There is a daylight lower level with Recreation Room and full bathroom.

Property information

Open House in Broyhill Forest on Sunday

Steve Wisemiller,CRS — Thu, 26 Nov 2009 14:48:00 GMT

Broyhill Forest, Arlington - We invite everyone to visit our open house at 3419 North Randolph St on November 29 from 1:00 PM to 4:00 PM.

Property information

Open House in North Arlington on Sunday

Steve Wisemiller,CRS — Thu, 05 Nov 2009 02:06:00 GMT

North Arlington - We invite everyone to visit our open house at 6419 North 28th St Arlington Va on November 8 from 1:30 PM to 4:00 PM.

Top To Bottom Renovation.............Must See!!

Property information

Arlington Virginia Real Estate Sales And Trends

Steve Wisemiller,CRS — Wed, 04 Nov 2009 03:44:00 GMT

Check out Arlington Real Estate Stats.

http://www.trulia.com/real_estate/Arlington-Virginia/

Please keep me in mind for all your Real estate needs.

Cheers!

Steve Wisemiller,CRS
www.soldbysteve.net
steve@soldbysteve.net
703-568-9625

Single Story For Sale in Courtbridge I & II

Steve Wisemiller,CRS — Thu, 08 Oct 2009 12:55:00 GMT

Walk To Shirlington Village!

• 1 bath, 1 bdrm single story "Condominium" - $275,000 - Why Rent?

Courtbridge I & II, Arlington - Welcome to Courtbridge Condiminium!

An exciting community in Arlington located minutes from the razzle/dazzle of the
Shirlington Village corridor. Convenient to Washington D.C., Pentagon, National Airport
Shopping, Parks and major travel routes. There is a community pool, hike & bike trails and Court Bridge is a pet friendly condominium community. This particular unit offers a private balcony viewing trees. It is equipped with a washer and dryer and updated kitchen and bathroom. There is also a woodburning fireplace in the living room which is hard to find in garden style apartments. The Master bedroom has great closet space and a dual entry bathroom. A convenient foyer entry and coat closet. All this adds up to a comfortable and care free living.

Walk to Shirlington Village

Property information

Federal Stimulus Funds to Buy and Fix Up Foreclosed Properties

Steve Wisemiller,CRS — Sat, 19 Sep 2009 17:12:00 GMT

Federal Stimulus Funds to Buy and Fix Up Foreclosed Properties

Published on Tuesday, August 25, 2009, 12:12 AM Last Update: 5 day(s) ago by Kimbrough Gray

Category: All Articles » REO's and Foreclosures

State and local governments across the nation are gearing up to spend federal stimulus funds. The U.S. Department of Housing and Urban Development (HUD) birthed the Neighborhood Stabilization Program (NSP) that provides federal stimulus dollars to assist neighborhoods hardest hit by the home foreclosure crisis. The NSP falls under the umbrella of the American Recovery and Reinvestment Act (ARRA).

HUD's intent for the NSP is to provide assistance to more than 500 communities, cities and counties across America in the form of rent relief, for homeless prevention and to assist low-income families to buy homes. Organizations that are eligible for NSP funding are cities, non-profit agencies and housing authorities.

St. Lucie and Martin Counties in Florida hope to receive some $7.5 million in stimulus dollars. The counties recently applied for the funds through the state's Department of Community Affairs. Both counties intend on buying foreclosed homes, renovating them and selling them to low-income homebuyers. The other initiative for the funding will be to weatherize neighborhood homes.

Fresno County, along with the City of Fresno, has received a total of $18 million in NSP funding to address the abundance of local area foreclosed homes. Officials have already interviewed several developers that will be hired to buy, renovate and sell or rent the homes to low-income families.

Blighted areas will benefit the most from the funds. A byproduct of the dollars will be construction jobs associated with renovating the properties.

Massachusetts may see some activity soon in many of their local cities and neighborhoods, since the state applied for funds in the total of $54 million. Boston Community Capital, alone, applied for $50 million in NSP funds in order to broaden the organization's ability to assist the state's residents who are facing foreclosure on their homes. The group has already committed $4 million in assistance to purchase abandoned property, loan funds to small developers renovating vacant properties and assist struggling homeowners in keeping or buying back their homes.

Connecticut has thrown their hat into the ring for $45 million in NSP dollars, which will target the state's four most hard hit cities. The Connecticut Consortium falls under the state's Department of Economic and Community Development (DECD), and will be responsible for allocating the funds to local communities. Low- to middle-income families will be the primary beneficiaries of the program.

Chicago received $5.4 million in stimulus funds earlier this year. The city's goal is to reinvest profits made from selling renovated properties back into other foreclosure properties.

Ohio was allocated $45 million NSP dollars to jump start the housing market in blighted neighborhoods. The intent is to allocate the stimulus money quickly, so that communities will be enabled to attack the growing numbers of abandoned and boarded up homes.

Kentucky was awarded $44 million, Evanston, Illinois applied for $39.4 million and Virginia received $45 million. Brad Pitt even entered the fray with his Make It Right Foundation. If funding is approved, it will benefit New Orleans and a project the group will launch in Newark, NJ. His organization, as part of a consortium of non-profits, is asking for $65 million.

Open House in Beacon Hill on Sunday

Steve Wisemiller,CRS — Sun, 13 Sep 2009 03:29:00 GMT

Beacon Hill Falls Church Va - We invite everyone to visit our open house at 6632 Beacon Lane Falls Church Va on September 20 from 1:00 pm to 4:00 pm

Property information

The Real Estate Market: Don't Celebrate Housing's Recent Uptick Yet

Steve Wisemiller,CRS — Mon, 31 Aug 2009 04:14:00 GMT

The Real Estate Market: Don’t Celebrate Housing’s Recent Uptick Yet

by Martin Denholm, Contributing Editor
Monday, August 3, 2009: Issue #1057

Recently, my colleague Marc Lichtenfeld and I took a collective pop at some lazy journalists and other media cheerleaders. Their crime? Whipping the investment community into false optimism through misleading headlines regarding earnings announcements.

They’re at it again.

This time, the flashy headline writers grabbed onto the latest report from the National Association of Realtors, which stated that existing home sales climbed for the third straight month, and at a faster pace than economists expected.

And they were out in force again when the Commerce Department said new U.S. home sales saw an 11% bounce in June. On an annualized basis, that equated to 384,000 homes – 9% higher than estimates.

Collectively, new and existing home sales hit the highest level in eight months in June.

Sweet! Hand me some champagne – let’s celebrate. Or maybe we should hang on a sec… there’s a problem with these headlines. Here’s what you need to know about the real estate market, and what we really should be looking for.

The “Real” Story Behind The Real Estate Sales Numbers

While an 11% rise in new home sales within the real estate market certainly makes for good reading, it doesn’t mean much when it’s not put into perspective.

And the reality is that for a start, year-over-year sales are still down 21%. In addition, while it may well be a good time to grab a bargain, the government wants to hammer the point home by offering puffy incentives and tax credits when buying real estate.

But perhaps the most notable reason for the sales rises is the home defaults…

Foreclosures hit a record over the first half of 2009, swamping the market with homes and pushing down prices.
And as the National Association of Realtors notes, the percentage of homes sold as foreclosures totaled 31% in June. Although the rate is declining (down from 50% earlier this year), it’s still a hefty amount.

To understand how real people are being affected by the nascent housing recovery, look no further than the troubles Treasury Secretary Tim Geithner has had in trying to sell his house.

Frustrated at not being able to sell his $1.6 million New York mansion after three-and-a-half months on the market, Geithner has yanked down the “For Sale” sign. And that’s after he and his wife lowered the price to below what they paid for it in 2004. Having taken out a $1.25 million mortgage at the time, they’re now apparently renting the home at a loss.

Doesn’t Tim read the papers?

He didn’t seriously expect to sell Fort Geithner in such a short time in a market like this, did he? It’s tough out there, mate. First, you have to persuade buyers that it’s worth shelling out $1 million-plus for a house.

Then you need to convince them that the plans you have for the recovery will help the U.S. economy. But I digress. Haven’t we just seen some positive data for the real estate market?

Putting Perspective On The Price Figures

Last week also saw the release of the latest S&P/Case-Shiller Home Price Index – a closely watched gauge that monitors home prices in 20 major U.S. metropolitan area housing markets.

Naturally, many outlets led with the news that the index registered a 0.5% rise in home prices in May, compared with April – its first monthly increase since July 2006.
In addition, May marked the fourth straight month that the annualized rate of decline has slowed, with 17 of the 20 cities notching improved prices.

Good news, for sure. But let’s put it in context. The market hasn’t magically rebounded with a vengeance. In April, the year-over-year decline was 18.1%. May’s year-over-year figure rolled in with a 17.1% drop.

So while prices did rise month-to-month, the truth is that the real estate market isn’t exactly growing, nor are prices appreciating. It’s just stabilizing and beginning to undo some of the brutal damage from the past few years. Prices are still falling over the longer-term, albeit at a slower pace.

As S&P index chairman David Blitzer says: “On a year-over-year basis, home prices are still down about 17% on average across all metro areas, so we likely do have a way to go before we see sustained home price appreciation.”

And speaking of that, government figures show that the median sale price of a new home in June was $206,200, down 5.8% from May and 12% lower than June 2008.

You might say I sound more bearish than a Rocky Mountain grizzly, but it’s important to inject some perspective into the story, rather than just blindly absorbing the media reports.

What Will It Really Take For The Housing Market To Grow?

As I’ve said before, for the housing market to truly start growing again, it’s going to require a few key things.

First, we need to see a reduction in the bloated number of available homes on the market. In that respect, it’s good to see the huge foreclosure rate declining, but those homes still need to be sold and prices still need to rise. And when you’re talking about a meaningful upswing, that brings me to another crucial requirement…
As Tim Geithner just discovered, this is not an easy climate in which to sell a house. Buyers are strapped for cash and able to call more shots in a depressed market. Sellers are frustrated and forced to lower their asking prices to market value (and even that is often hard to gauge with the number of “distressed” sales – i.e. short sales or foreclosures).

Buyers and sellers alike will need to see U.S. job market growth in order to restore some confidence, not to mention wealth. Ironically, the precipitous plunge in the housing market has played a huge part in eroding both.

For example, home prices declines were partially responsible for a $13.9 trillion drop in household net worth during the first quarter, according to the Federal Reserve. And ominously, both the Fed and many economists believe the unemployment rate will top 10% by 2010.

There are other factors, of course. But these are two of the most critical ones that absolutely need to be part of the equation. And while the latest batch of more positive housing data is certainly good news, a real recovery will take time.

Meantime, if you’re looking for a bargain in the New York area, give Tim Geithner a call.

Good investing,

Martin Denholm

More on this topic (What's this?)

Has the

Will Cash for Clunkers Program Stimulate the Economy?

Steve Wisemiller,CRS — Thu, 30 Jul 2009 01:54:00 GMT

Cash for Clunkers Program on Track to Stimulate Economy

Print Article

RISMEDIA, July 30, 2009-The governments Cash for Clunkers program (C.A.R.S.) began stimulating the economy a month before the first rebate check was cut to a consumer for a new vehicle. “Manufacturers and dealers have spent millions to reach consumers who qualify for the $4,500 government funded rebates,” said Sharon O’Connell from www.CashForClunkersInformation.org.

Big budgets have been activated to implement campaigns targeting clunker consumers who are eligible for the program and the early results suggest the returns will be worth the investment. “We predict that the annualized selling rate for July will exceed 10 million vehicles for the first time this year due to the government program bringing dormant consumers back into the market,” adds O’Connell. “We think August could do even better with a million or more sales due to increased demand from the CARS program.”

“The stimulus helps local markets more than national car companies because car dealers stimulate the local economy through their big advertising expenditures, job creation and enormous state tax revenue,” said O’Connell. “A small dealership who sells 100 vehicles a month spends an average of $500 per car in advertising, which is a total of $50,000 that is spent in local advertising.”

Courtesy Chevrolet, one of GM’s largest dealerships in the country, “bought new inventory, hired additional salespeople and increased our ad budget by 88%,” said Scott Gruwell. “We spent $200,000 on a targeted direct mail and Web campaign to every customer in our market and we launched a regional information portal called www.CashForClunkersDC.com,” said Vince Sheehy, owner of www.Sheehy.com in Washington, DC, Virginia, Maryland and Baltimore. “So far we have sold over 100 vehicles while most dealers in our area are just getting started.”

Since over 80% of consumers initiate their vehicle searches online, Automotive Manufacturers and retailers have spent a lot of money online. Ford Motor Company is promoting its program on their home page where consumers can link to a website that promotes Ford models that qualify. The New York Honda Dealers Association initiated an integrated campaign weeks before the final ruling to send a targeted mailer to every qualified clunker owner on the Clunker List in New York while most other brands were focused solely on expensive television advertising. The Association also created a regional website, www.NYCarsProgram.com, to educate New Yorkers about the program. “Honda is the most popular brand in the New York market and nearly all Hondas qualify for the Cash for Clunkers program, so we launched an interactive website to educate the public,” said Rob Sabbagh Jr., representing www.NYLIhonda.com. www.NYCarsProgram.com provides program information, a clunker calculator and a multi-media consumer tutorial that highlights the fact that nearly every new Honda qualifies. “You don’t really need a complicated chart to find a qualifying vehicle at a Honda dealer,” said John Mendel, executive vice president of American Honda Motor Co., Inc.

Early Spenders are the Early Winners
Most of the economic activity generated up to this point has come from early spenders who also appear to be early winners in the race to reach clunker consumers. The winning retailers have been marketing to consumers for weeks while others are just getting started. Hyundai and a small group of dealer groups got a head start when they announced they would help consumers participate in the program starting on July 1st, while others were turning them away until the final rule was published on the 24th. The NHTSA and the National Automobile Dealers Assn. warned dealers against doing transactions before the final rules were announced on July 24th. Despite these warnings, Hyundai and a few dealers took the risk to help consumers get rebates when the law said they could. “Hyundai has attributed 10 percent of July’s sales to the program and some dealers have generated hundreds of incremental sales,” said O’Connell.

“We quickly created a program that helped consumers take advantage of the program and it has helped our sales a lot,” said Rick Case, who has 6 Hyundai stores as a part of one of the most successful automotive groups in the country. “So far all our sales are conquest sales. More than 70% of the clunkers were Ford or Chevy trade ins, 71% of the clunkers were SUVs, 93% had over 100k miles and 71% qualified for the $4,500 because SUV’s only need a 5 mpg improvement to get the full $4,500 rebate. The average clunker trade in gets 17 mpg and the average new vehicle gets 25 mpg, which is an average of an 8 mpg improvement,” explained Case.

“We had over 100 orders by the time the final rule was announced and our customers appreciated the fact that we could help them when they were turned away by other dealers that weren’t ready,” said Sheehy. It turns out their strategy was not very risky because the Consumer Assistance to Recycle and Save Act clearly states that consumers were eligible for rebates starting July 1st.

For more information, visit www.CashForClunkersInformation.org

Steve Wisemiller,CRS,ABR,SRES
Licensed in VA & D.C.
Real Estate...Real Solutions!!!
Acquisition and Investment Analysis
703-568-9625
E-Fax- 1-877-232-3246
swisemiller@remax.net
www.soldbysteve.net

Read more: http://rismedia.com/2009-07-29/cash-for-clunkers-program-on-track-to-stimulate-economy/#ixzz0MhgRiID8

How long will a Foreclosure or Bankruptcy affect your credit?

Steve Wisemiller,CRS — Wed, 29 Jul 2009 03:41:00 GMT

How Long Will a Foreclosure or Bankruptcy Affect Credit?

By Susan Tompor Print Article

RISMEDIA, June 30, 2009-(MCT)-Question: How long will a foreclosure or bankruptcy show up on your credit report?

Answer: A foreclosure can be reported on your credit report for seven years from the date the foreclosure was filed in the court, according to Gerri Detweiler, author of “Reduce Debt, Reduce Stress.” The book is $14.95, and an ebook is available at www.ReduceDebtReduceStress.com.

Bankruptcy, she said, legally can remain for 10 years from the date you filed - not the date of discharge or when the bankruptcy is completed. However, credit reporting agencies have agreed to voluntarily remove completed Chapter 13 filings - where someone pays off part or all of their debt under a court-supervised plan - seven years from the date of filing.

The idea is to give consumers some credit for having paid back as much of their debt as they could afford to pay back.

What happens with a short sale? Or an arrangement in which the lender allows the homeowner to sell the home for less than the mortgage due? Detweiler noted that a short sale may either be listed as a charge-off or a debt settled for less than the full balance. Both remain on your credit report for seven years from the date that action occurred

Steve Wisemiller,CRS