Join the Adkins Florida Group for an open house this Sunday, December 14th, from 2 - 4pm at:

2714 21st Avenue, Bradenton, Florida 34205

Just reduced!! Cozy & affordable! A true 4/2, has living/dining combo, galley kitchen, screened lanai, newer roof and hot water heater, new paint, tile floors and window treatments.

Motivated seller!

County: Manatee County Zip Code: 34205 Unit #: Status: Active  Grid: I12    List Price: $160,000 Beds: 4 Baths: 2 Sq. Ft Heated: 1,350 Pool: N Year Built: 1973 Property: One Story Single Family Home MH Width: Total Building Sq Ft: 2000 ADOM: 97 CDOM: 97 Location: Close to Bus Line, In City Limits

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I disagree with the government getting involved in business matters. I also think it is quite short-sighted of the NAR - and of the agents that supports such intrusion - to think that by allowing the government to meddle with business and banking in the near-term, thereby possibly spurring home buying, won’t be a precursor to diaster in the long-term. In recent months have we not seen enough evidence to support my claim that any governmentmal intrusion into the lives of American business only serves to harm that business, not help it? Why do we keep insisting that our government, by way of our tax dollars, dig itself deeper into the rotting flesh of our economy like some crazed maggot? Let the dying flesh die and from that death new life shall spring. That is Capitalism. That is America. That is what needs to happen now.

I do, however, agree that the $7,500 credit should be extended to eveyone. It seems silly that it isn’t already.

“An effort by the National Association of Realtors® to spur home sales through a mortgage-interest rate buydown appears to be gaining traction. Reports in major news media like the Washington Post and Wall Street Journal today quote sources familiar with a meeting between U.S. Treasury officials and NAR in November in which the buydown proposal was discussed.

“Treasury officials told the Realtors that the [buydown] plan could be a more effective way to help homeowners than focusing solely on borrowers who are struggling to meet their monthly payments,” the Washington Post story says.

Under the Treasury plan, lenders would sell newly issued mortgage-backed securities to the government provided the interest-rate on the loans collateralizing the securities was no higher than 4.5 percent. Although NAR supports a buydown, it does not take a position on how low interest rates should go.

To pay for the plan, Treasury would issue bonds at 3 percent, creating a 1.5-percent spread that it could use for buying the securities. Those securities would then be purchased by secondary mortgage market companies Fannie Mae and Freddie Mac, which are under federal conservatorship.

NAR has been calling for a buydown and other measures to help stimulate housing sales as part of a four-point plan it showcased at its annual meeting in Orlando last month. To date, tens of thousands of Realtors have sent letters to their members of Congress asking for quick action to help housing, which is widely considered a crucial first step to a broader economic recovery. Other parts of the four-point plan include: making 2008 high-cost conforming loan limits, which are now $729,750, permanent; improving the homebuyer tax credit by expanding it to all buyers, not just first-timers; and eliminating the repayment requirement.

Some analysts have calculated that an interest-rate buydown could help as many as 2.5 million households.”

Source: REALTOR® Magazine Online