(614) 212-7729
I'm a former Bank Regulator (Comptroller of the Currency/U.S. Treasury Dept.)and a former bank and bank holding company president. I'm also the co-founder of a web based logistic software company serving North America and parts of Europe.
I am part owner, with my wife, of EXIT One Realty in Columbus, Ohio, although I am not a real estate agent.
With 2010 being a mid term election year and real estate being a major contributor to the overall economy we can expect some type of "help". As we have just witnessed politicans take trillions of dollars out of the productive economy and spend it on pet projects. We have been asking China to finance these pet projects and new entitlement programs and when they stopped buying our treasury bonds, the government "loaned" money to the banks and they in-turn buy the bonds. What we have witnessed over the past 10 months is the migration of both power and money from the financial community to the political community. Now to remain in power they must pull out all the stops...even as voters now understanding that we can't borrow our way out of this mess...just like we can't use credit cards to solve our personal credit issues. KICKING THE CAN DOWN THE ROAD: The $7,500 "loan program" was the first "can" kicked down the road by the political community to make the "voters" happy...the program was not big enough nor attractive enough; a bigger "can" was needed. Thus we have the current $8,000 "can". Some what more attractive, especially to both first time homebuyers and realtors. But this "can" is only working for those select few first time home buyers and for lower end inventory. To get the housing market really back on track a much bigger "can" is needed...maybe more than $8,000...maybe the $15,000 discussed. While I personally don't believe in these "bailouts"; this type of tax credit proposal has some merit, especially for first time buyers. With first time buyer, the $8,000 will more than likely be spent and spent quickly on such things as appliances, carpeting, furniture, paint and many other things that are produced here in the USA as mentioned above. Given a multplier effect we can expect about a 7X or a $56,000 impact into the economy for each $8,000 given to a home buyer. (For those that don't believe in the mulitplier, just wait until your friendly elected official introduces you to the Value Added Tax (VAT)...you will understand the mulitplier effect in reverse.) So when I look at this type of program (pure tax credit), relative to other programs (cash for clunkers), it has more positive economic impact than many of the other alternative that politicans will deploy to keep themselves in "Power". You know your elected official is going to spend your money to stay in power...so where would you like him or her to spend it...not spending it is not an option. Enjoy it will you can!! Vince Ciroli EXIT One Realty Columbus, Ohio http://www.EXIT1Team.com 614-212-7729
Great article, as always. The Internet seems to generate tons of Buyer Leads but very little in the way of Seller Leads; and I'm talking about the same people. Internet Buyers will want to use us on the buy side but use another agent, who has the most signs in the area (and also the most un-sold homes)to list their home. I tried to figure this out one day but it just made my head hurt. Vince Ciroli Marketing Director EXIT One Realty Columbus, Ohio www.EXITOneTeam.com www.TheColumbusMLS.com
This may come back to bite JonesDay (can I say that?) since they may find themselves trying to defend a client that is now being sued because their site "deep linked". Now that would be interesting...wouldn't they have to excuse themselves from the case? Paradise Land Corp. www.TheColumbusMLS.com
