HELP AVAILABLE FOR HOME BUYERS OR SELLERS IN DECLINING MARKET

Pending home sales plummet in April

In regards to the article in the LA Times above...The 11.6% decline in pending house sales from March misses the point. Home prices are lower. Interest rates are still low and lower.

The decline tells us that home owners and sellers don't know about the FHA Energy Efficient Mortgage or the FHA Rehab loans programs. These are the only loan programs that give buyers additional cash at the time of purchase to fix up their homes. Many homes on the market need some attention, but most buyers only consider fixed up houses. The FHA EEM or Rehab loans allow the buyer to fix the house after they purchase it - all in one first montage, at the best available rate.

This expands the number of home a buyer can consider.

Energy Efficient Mortgage allows upgrades of heating, cooling equipment, windows, insulation, water heating - the systems of the house. The Rehab loan program permits 'cosmetic' improvements - like a new kitchen.

If more sellers and buyers used these programs, we would see less decline and a lot more sales of people turning houses into their favorite home.