Paul Bozek's Blog

Mortgage bankers report hits grim a benchmark in first quarter, showing a record number of homes in jeopardy. More than one million homes are now in foreclosure, the highest rate ever recorded, according to a trade group which warned Thursday that number will continue to climb. The Mortgage Banke...

I guess when you start reading articles such as these published in local newspapers, it doesn't help the already battered housing market.  I'm sure it makes sense for some people to rent, however, with being what they are it would be foolish not to take advantage of the tax savings of owning a ho...

With the ever increasing gas prices, I thought this gas saving blog could benefit all of us.  1. Racing away from green lights When the light turns green, you don't have to take off as quickly as possible. That pedal under your right foot is called the "gas pedal" for a good reason. The more you ...

Foreclosed homes that lie vacant and rundown need their lawns mowed and their yards cleaned up. Cities say taxpayers shouldn't have to bear that burden. Weeds stand waist high on the front lawn of the wood-frame, single-family house in Cleveland's Slavic Village neighborhood. Trash spills out ope...

I found a pretty good article for home buyers.  It's basic info, however, it's simple and I thought a lot of new buyers could benefit from it.  Enjoy! There's no telling how long the housing crisis will drag on. Here's what you need to know before you start shopping in a rocky market. Rule 1: You...

Standard & Poor's/Case-Shiller study shows record decline for housing prices in first three months of 2008. U.S. home prices dropped at the sharpest rate in two decades during the first quarter, a closely watched index showed Tuesday. It's a somber indication that the housing slump continues to d...

A government study finds home prices fell 1.7% in the first quarter of 2008. California, Nevada see sharpest drop. The prices of homes sold in the first quarter of 2008 posted a record decline, according to a new report from the Office of Federal Housing Enterprise Oversight. Home prices fell 3.1...

Looks like the feds are starting to admit the problem we are facing.  The market as is down 227 points or 1.77% for the day following the news.  In my opinion, any inflation, unemployment, etc numbers have been more or less "sugar coated" to keep consumer confidence up.  With gas being $4/gallon ...

Interesting article that came out today about future projection of housing market.  I think this is a sign market hitting bottom in the next 12-18 months.  I don't really think price will be an issue anymore, it will be availability of financing.  Enjoy reading! Mortgage company CEO says the end ...

I came across a scenario today.  It was a 20 acre parcel zoned AE-20 with mulitple structures on the property.  The property is bank owned and has been vacant for about 1 year and it's a rehab.  We're looking to do a rehab loan on this property to fix it up post closing.  The property is not inco...