For homebuyers the market is looking up and investors are happy also. Sellers may not be happy but as long as they are moving up in the market it's about the same for them because they should also be buying at a lower rate. The ones hurt most significantly in the market are those who are selling but not buying.

The foreclosure debate is heating up and really it's difficult to say what the best way is to "fix" the problem. Making it easier for people to walk away by waiving tax income tax implications seems to me a negative step. In some cases I believe that this is great but unfortunately I have come across people who are walking away that really could make it work but don't really care about their credit. I met with one couple that actually said "we already have an apartment and we'll let you try to sell it but really don't care". I did get an offer from an investor but needed their final signatures to submit for a short pay to the mortgage company and it was too much trouble for them to make the effort to sign & fax back the contract so they just let it go. Why should they then not have to face tax penalties on their future income? Those people who have not yet foreclosed really are the ones who need the help.

I propose that the mortgage companies have an incentive to help those people who have just lost their job or have viable, documentable hardships instead of those who just walk away getting that financial break. How about the highrise, midrise developers who hide behind bankruptcy laws and leave behind 50% vacant buildings and construction defects with no money to fix them? They just open up under another name but the people who bought those condos etc are stuck there in the vacant building with mold or no HOA.

How about that hardworking retired veteran who lost his home to the VA because the local area taxes and HOA fees caused him to exceed his fixed income?

The market is again shrinking for the middle class. High end homes are still selling and rentals are going up (lower income families) which makes for more money for investors but what of our middle class who have few tax breaks and really only have ever earned equity on home ownership? Let's help them out for a change.

Why do we continue to offer aid & help for those who have not contributed to our system and alienate those that have? There has got to be a better way!

Ok so enough of that tirade, actually my listings have started selling faster and Houston market reports have said that although inventory is rising Sellers are still making more per home that previously..... Builders are starting to decrease their inventory by about 30% so that should balance out the inventory as sales heat up for March. You still have to say goodbye to selling your home for a huge profit in 3 years however at least you should not be looking to lose unless you overbought for the area.

For those of us that make our living in real estate, people will always need to buy & sell real estate so those who educate themselves on the market will still be working. Those who got into the market strictly for the lure of fast money will be back doing whatever they did before. I think the market conditions will actually improve services provided by real estate professionals. Sellers can no longer just list with Aunt Suzy on MLS and wait for other agents to sell, they will want to hire marketing professionals with experience & knowledge in top technologies. The Buyers will see the value in hiring a consummate professional who provides a comparative market analysis designed with buyers in mind so that they will not overbuy and an advocate that can give them realtime market data on what homes should be selling for in a particular area.