HUD move EHLP Deadline

Unemployed home owners have still a chance to qualify for the Department of Housing and Urban Development Emergency Loan Program until September 15, 2011. That was the new deadline set by the HUD to give homeowners plenty of time to process their application. The original deadline was slated to end on July 22 but extended until July 27.

The $1 billion unemployed homeowner’s aid program has covered 27 states and whoever will qualify will receive up to $50,000 interest-free loan with payment period of up to two years. In five states operating programs similar with EHLP, including Delaware, Idaho , Maryland, Connecticut and Pennsylvania will have also until Sept. 30 the last day in receiving applications.

Scott Elliot, spokesman for PHFA, said on his statement on Monday ", the deadline was extended to September to allow more time for contacting the counseling centers and getting more applications in.”

There are currently 3,100 application received by the department since June and expect for more to come before the deadline. Every day, PHFA receives about 250 applications from 27 states.

The largest MLS in the Nation is Soon to be Found in California

Sooner or later the largest Real Estate Multiple Listing Service in the county will be found in California. It was officially announced by one of the nation's largest MLS the California Regional Multiple Listing Service Inc., that they will join forces with SoCalMLS. This Anaheim based MLS itself is also one of the biggest in the country with more than 33,000 members and will double this number if merger will agree by both parties.

As of this moment the negotiations between the two MLS giants are getting closer to the vision of creating the largest MLS in the country that will serve members and participants all throughout the state of California. The merger will allowed data sharing between the two MLS that will improve member services, economies of scale and greater efficiencies.

In an interview with inmannews.com, CRMLS CEO Art Carter, said "We're continuing to talk [to MLSs and REALTOR® associations] up and down the state, and where it makes sense, we're going to forge relationships in those situations."

Cities Where Better to Buy than to Rent

Is it true that buying is better than renting in some U.S. Cities? According to the real estate website Trulia.com, only 12 percent of the 50 largest cities in July showed that renting was the better option than buying, including San Francisco, New York and Seattle. Meanwhile, buying was cheaper compared to renting in 74 percent of the largest cities and buying was less expensive but a little closer to buying cost in the remaining 14 percent.

Las Vegas, Nevada made it on the top of the list for the cheapest market to buy a home. Based on the latest home sales data shows that prices fell close to 60 percent from its peak in August 2006. Median annual rent in this area cost $9,700 and will just take you six years if you buy a two-bedroom, two-bathroom condo or town house.

Detroit came in second for the cities where buying is better than renting. It has a buy-rent ratio of seven times, same with Mesa, Arizona and Fresno California.

Colby Sambrotto Seek Agent Help to Sell His Property

The famous website in selling property ForSalebyOwner.com founder Colby Sambroto asked for agent help to sell his New York property after attempted to do it himself by listing it online, but failed to find buyer in the period of six months. This is an apartment type home that equipped with two bedrooms and two bathrooms and sits in a 2,000 square-feet area.

A broker at Bond New York named Jesse Buckler was the one who handled the property and told Sambrotto that he was not doing the right way in marketing his property and not attracting potential buyers.

Bucklers raise the asking price of home and receive multiple offers after several weeks. Sambrottos’s property ended up selling for $150,000, a little more than its original asking price.