Market Conditions Continue to Vary Widely And Foreclosures at All Time High

While there are few markets in the country that have managed to survive the current housing market without any battle scars there are some markets that have experienced more serious issues than others. Two of the worst markets in the United States at the moment are Cleveland and Detroit; however, they are definitely not alone when it comes to markets that are falling with no end in sight any time soon.

By and large, the riskiest markets at the moment are those that are experiencing the highest rates of foreclosures. Other factors that are contributing to problem areas include high rates of job loss and slow job growth. Markets in which the number of homes for sale is rapidly rising are also experiencing significant problems. Rapidly rising property values just a few short years ago is also proving to be a stumbling block for many markets.

During the housing boom these markets commonly experienced property value increases of two-fold and even three-fold in many cases. Once the boom ended; however, these markets began to fall and as of yet, they have not hit the bottom. These markets are also at greater risk for problems due to the large presence of adjustable rate mortgages.

During the housing boom, as prices were escalating quickly, buyers frequently took advantage of adjustable rate mortgages to obtain even lower interest rates to make their housing payments more affordable. This was quite common in areas where first-time home buyers were struggling to afford the rapidly rising prices of homes.

The subprime mortgage market is also more highly concentrated in these areas of the country. Lower interest rates at the time prompted many people to rush out and buy homes. Unfortunately, the credit profile of many of these buyers was less than sterling. Mortgage loans made in these markets during this time frequently involved subprime, adjustable rate mortgages. As the market began to fall, interest rates began to increase. Today, those same homeowners are finding they can no longer afford their mortgage payments. The result? Foreclosures have risen sharply in market areas where the boom once allowed housing values to double and even triple practically overnight.

Economic conditions in many areas have further fueled the crisis. As the number of layoffs increase, the number of foreclosures and homes for sale seem to increase as well.

At the moment, the ten worst housing markets in the country are Sacramento, New Orleans, Detroit, Riverside-San Bernardino, Las Vegas, Tampa, Miami, Cleveland, Phoenix and Jacksonville, Florida.

Sacramento, considered to be among the top ten of the worst housing markets, has experienced a drop in homes prices that is well above the national average. Like many other housing markets in similar situations, Sacramento fell victim to a fast paced market and subsequent plummeting pricing. Today the median home price for homes in Sacramento remains far above other markets in the country, despite the worsening situation. Given the large number of houses on the market; however, this is far from good news.

In spite of the situation in Sacramento; however, it is definitely not the worst case scenario at the moment. That honor goes to Detroit, where market prices have experienced a drop of more than 7%. The key factor in Detroit is the massive amounts of layoffs stemming from the auto industry. Matters are not much better in Cleveland where median prices have also dropped by several percent and inventory continues to rise.

While these markets are not showing any signs they will rebound in the near future; there are some markets; however, which are actually posting increases. Seattle is one such market. Median home prices in Seattle have actually risen almost 9% in the last year. Other cities on the rise include Raleigh and Charlotte in North Carolina as well as San Jose, California. San Francisco is not far behind, garnering an increase of more than 7% in the last year.

Board Up Jacksonville and the Mortgage Crisis

Some board up Jacksonville companies are especially busy these days because of the mortgage crisis. These companies are the frontline defense against decay and vandalism for foreclosed homes. There are several things these board up Jacksonville companies do.

1. Inspect the property. Board up Jacksonville companies who take on the job of maintaining empty foreclosed houses begin by inspecting and giving a full report to the mortgage holder. This report explains all the damage that has been done to the house already. It includes before pictures so that the mortgage company can see their work when it is done.

2. Clean up. Even for a home that has been recently vacated, there is usually a fair amount of clean up to be done. People who lose their homes are rarely careful about what they leave behind. There may be papers and packing materials in the yard. If the house has been vacant for awhile, there may be even more debris to clean up. Broken bottles and discarded fast food wrappers may litter the lawn. The board up Jacksonville company will clean it all up.

3. Replace doors. Doors have sometimes been kicked or beaten in by intruders. The doors may be beyond repair. If so, a board up Jacksonville company can come in and replace the doors. All they need is authorization and instructions about what kind of doors are wanted. The mortgage company will be contacted for these decisions. Locks will also be installed if necessary.

4. Board up windows. There may be several windows already broken that need to be covered. Furthermore, even windows that have not been broken are vulnerable with the house sitting empty. They will all be covered up by the services for board up in Jacksonville.

5. Board up other openings. If there are open crawl spaces or open garages, the board up Jacksonville companies will cover them up. They will search the home for any entry that could be used by intruders, whether human or animal. They will cover all the openings.

6. Do a final inspection. The board up Jacksonville company will inspect the house at the end of their work and write a short report about all the work that has been done. They will include after pictures of all the areas that were cleaned or boarded up. The mortgage company will use these pictures and the report in deciding the pay for the board up Jacksonville company.

The mortgage crisis is bad news for everyone. People are losing their homes and mortgage companies are facing great losses. Services for board up in Jacksonville can help the mortgage companies protect their investments and stay stronger. This is good news for anyone who wants to buy a house in the future.

The Benefit of ADT Security Systems Is Multi-Faceted

The core service provides constant monitoring of the home security system from 5 command centers, which alert local authorities to not only burglaries and home invasions but to medical and fire emergencies. With these interconnected centers nationwide, local weather, phone line, or power issues will not risk the safety of ADT security systems, even with 1 center down. The company also can reliably dispatch local authorities for the 911 address of any home, all through a home security monitoring service with an inexpensive monthly fee. There are 5 command centers for ADT security systems. This extensive network includes facilities in Aurora, CO; Rochester, NY; Omaha, NE; Kansas City, MO; and Jacksonville, FL. The service is by far the largest of its kind, and with its inexpensive package loaded with benefits and perks, this is quite understandable. Best of all, the entire system can be ordered via the Internet to have an installer come to your home within a few business days, some even within 24 hours. Once the simple online registration is completed and submitted, a representative will contact the homeowner to confirm the order and the time and date for installation. The customer can even choose a date and time that works for them. Many offers state strictly that you must be a homeowner to take advantage of the discounts and deals. Make sure you read all the fine print to make sure you qualify for discounts. ADT security systems, with such a high degree of reliability, should not be overlooked. Millions of homeowners are already protecting their homes and millions more face the chance of experiencing a break-in. Such an organized and reliable network behind a sophisticated system only serves to reinforce an already successful business. Many packages come with signs, which can be installed in a yard and in windows, to let others and possible intruders know the property is protected by a prestigious organization. Not only that, but they serve to help the homeowner identify themselves with such a reliable institution that is dedicated to protecting them. With any luck, the identification will deter potential invaders in the first place, but the state-of-the-art ADT security systems equipment and monitoring service is there just in case.

Ten Market "Up's and Down's" in the First Quarter 2009

1. The Return of the Multiple Offer: More and more agents are seeing multiple bids being made on homes that are priced well and in good condition. With all the foreclosures out there, buyers have to pick through homes in less than spotless condition, and when they find a quality listing, they're jumping on it.

2. Negative Equity Home Ownership: Homeowners in a negative equity situation are becoming more the rule than the exception. One fifth, or almost 22 % of home owners owe more than their home is worth.

3. Some Markets Show Increase: Although overall house prices have declined 14.2 percent from a year ago, there are a few markets that noticed an increase in house prices from January to March 2009.

These include:

Fayetteville, NC: +14.4%; Oklahoma City, OK: +5.1% Binghamton, NY: +2.5% Jacksonville, NC: +2.5% Cumberland, MD: +2.3% Austin, TX: +1.6% Gainsville, GA: +1.5% Toledo, OH: +1.5%

4. Top ten Markets that have decreased by over 20% include:

Redding, CA: -34.1% Vallejo, CA: -31.8% Riverside, CA: -31.1% Las Vegas, NV: -30.3% Modesto, CA: -30.4% Bakersfield, CA: -29.4% Phoenix, AZ: -24.4% Miami, FL: -23.7% Naples, FL: -23.9% Santa Barbara, CA: -22.9%

5. Senate Ok's Foreclosure Bill: The Senate approval of the foreclosure-prevention bill means tougher rules for lenders and extra provisions for owners of foreclosed properties. Now homeowners have a 90 day grace period before they have to move. Deposit insurance by the FDIC has been increased from $100,000 to $250,000. It also discourages some of the old lending practices. Now lenders must be prepared to take financial responsibility for mortgages advertised with "too good to be true" interest promotions.

6. $8,000 Home Buyer Tax Credit: This was introduced as an incentive for first-time home buyers taking the first step toward home ownership.

7. Home Builders Losses on the Mend: Major home builders who have noticed losses for the first quarter have decreased from one year ago. Pulte Homes reported a loss of $514 million in 2009, improved from $696.1 million at the same time in 2008. D.R. Horton Inc. report losses of $108.6 million, compared to $1.31 billion during the first quarter in 2008. Horton claims their new building strategy which includes building smaller, lower priced houses in an effort to compete with foreclosure sales is working.

8. Long Term Interest Rates Lower than Short Term: It's now cheaper to get a 30-year fixed rate mortgage (now averaging 4.80 percent), than a 15-year term at 4.48 percent or a 5 year at 4.8 percent. Historically, short term rates have always been the lowest.

9. Green Building Trends: Building environmentally friendly homes is more than a trend, it's becoming the norm. In fact, the green building industry is expected to grow 60 percent in 2009. Builders not familiar with this type of construction technology are going to be left behind.

10. No More McMansions: Homes are getting smaller as buyers opt for smaller, more economical and energy efficient designs. They are still getting the upscale upgrades the likes of granite counters and spa baths, but on a smaller scale.

The Key To A Refinance In Jacksonville

Jacksonville refinancing is one way you can think about to lowering your mortgage payments, and keeping your house. In today's economic crisis, and with the problems brought about the country's sub-prime mortgage, the real estate market has taken a tremendous beating. There have been hundreds of foreclosures and defaults on payments, and in many parts of the country, the market has yet to turn around.

In Jacksonville, Florida however, it seems that the real estate market has not been affected too much. As of 2008, the sales volume even increased by 6%! The prices of houses in Jacksonville has only decreased by a minimal 11%.

If you compare this to many other cities in the country, Jacksonville is a pretty good place to invest, and for residents of the city, the positive outlook is looking brighter every day.

Currently, there are only 22,000 houses for sale in Jacksonville, and this number is steadily decreasing. This is because real estate in Jacksonville is starting to recover. For this reason, if you are a home owner with a mortgage that is burdened by high interest rates, you now have the extra option of applying for refinancing.

With refinancing, you can lower your monthly payments, and enjoy a lower interest rate. A home loan that was taken out in 2005 came with a 6.5% interest rate. Today, the interest rate is only 4.375%, and this will account for the drop in the monthly amortization payments.

The opportunity available for refinancing is a unique offer that does not come very often. If you are interested in considering refinancing, you should talk to some experts who can give you some advice on your best options.

In Jacksonville, there are several major organizations who will go out of their way to freely counsel you about your home mortgage situation. The best part about talking to these experts is that there is no strings attached.

Try calling these organizations, and listen to what they have to say. You could be start relieving some stress from financial burdens by understanding your situation and considering easy and convenient choices.

Two of these choices would to either pay off your loan within a shorter time frame, or pay less every month. Here are the names and phone numbers of these groups.