BREAKING NEWS-April Existing Home Sales Rise

Connie appeared on FOX BUSINESS NEWS "Bulls & Bears" hosted by Liz Claman and David Asman to discuss the possible write-downs on home mortgages. Connie shared her concerns and also what she thought could further boost demand for housing. To see clip go to http://www.conniedegroot.com/ and click on Connie on TV- look for original Air Date: May 26, 2009.

BREAKING NEWS.......

April existing home sales rise by 2.9 percent nationally up from March.

The median sales price dropped to $172,000, down from $201,300 in the same month last year. That was the second-largest drop on record after January, when prices fell 17.5 percent.

Homes over 750,000 dollars currently have a 40 MONTHS SUPPLY OF HOMES.

Existing-home sales in the West rose 3.5 percent to an annual rate of 1.17 million in April and are 19.4 percent higher than a year ago. The median price in the West was $222,600, down 21.8 percent from April 2008.

There are incentives in the low-end that have stimulated buying activity for several months now. Almost half the homes sold were distressed sales. Low rates, low prices, a first-time home buyer tax credit are all contributing factors to the boom in sales.

Now is the time to let your elected officials know that the tax credit should be extended to buyers of ALL HOMES. The pool of buyers will not increase overnight and we MUST INCREASE THE DEMAND so we need to get as many qualified buyers to buy now. We have little movement with homes over 750,000 dollars because we have higher loan rates, more challenging lender requirements, larger down payments required and banks are more reluctant to do jumbo loans since there is no secondary market. This market needs some help so if we could give a tax incentive this might get a few more homes sold. The limit should also move to up to 15,000 dollars and this should only be offered for a limited period of time to create urgency in the marketplace. Lawrence Yun speaks to creating a secondary market...

Lawrence Yun, NAR chief economist, "Most of the sales are taking place in lower price ranges and activity is beginning to pick up in the midprice ranges, but high-end home sales remain sluggish," he said. "The Federal Reserve needs to help restore liquidity for the jumbo mortgage market by buying these loans under the TALF program."

Spread the word.....

Connie

First-Time Home Buyer Tax Credit: 6 Things to Know

While the proposed $15,000 home-buyer tax credit died in negotiations between the House and the Senate, the $787 billion stimulus bill that President Barack Obama signed into law Tuesday includes a similar--albeit smaller--measure designed to help revive the real estate market. Here are six things you need to know about the freshly-enacted $8,000 first-time home buyer tax credit.

1. Eight grand, new buyers: The tax credit included in the economic stimulus legislation is much narrower than the $15,000 proposal. This credit is equivalent to 10 percent of the purchase price of the home--although it's capped at $8,000--and applies only to first-time home buyers and principal residences. But unlike an earlier $7,500 home buyer tax credit, this one does not have to be repaid.

2. First time buyers defined: For the purpose of this legislation, a "first-time home buyer" is someone who hasn't owned a principal residence for three years before buying a house. (The date of purchase is considered the day that the title is transferred.) That means if you've owned a vacation home--but not a principal residence--within the past three years, you would still qualify for the credit.

3. 2009 buyers only: Only those who purchase a home on or after January 1 and before December 1, 2009 are eligible for the credit. Anyone who bought a home last year won't be able to take advantage of it.

4. Income limits: The tax credit is subject to income limitations. Single buyers need a modified adjusted gross income of $75,000 or less to qualify for the full credit, that's $150,000 for married couples. Those earning more than these thresholds may be eligible for reduced credits.

5. Refundable: Because the tax credit is "refundable," qualified buyers can take advantage of it even if they don't have much tax liability.

6. Recapture: Buyers have to own the home for at least three years in order to capitalize on the credit. If they sell the home before then, they will have to return the credit to the government. (Exceptions will be made in certain cases, such as death or divorce.)

written by Luke Mullins

Connie on Money For Breakfast at 4:45 am May 18, 2009!

Connie appeared via Satellite on the morning show "Money For Breakfast" hosted by Alexis Glick to discuss California's deficit, the suggested selling of San Quentin, the Los Angeles Coliseum and the upcoming vote on May 19th which polls are showing most unpopular. Original Air Date: May 18, 2009. To view clip go to "Connie on TV".

HANNITY- Fox News Channel

Clips from the "HANNITY SHOW" To view the segment just go to my website: www.ConnieDeGroot.com and click on "CONNIE ON TV".

Here are some of the comments received after the show.

Jane Hanson, Seaside CA
Dear Connie, we saw you last evening on the Hannity show and just want to tell you that you are NOT alone out here in CA!!! I was so happy to hear you say that People DON'T Get IT! It's getting more and more disheartening as the days go by and I"m so unsure of where our country is headed. Thank you for speaking up for us!

Sergeant Michael Bustamante, Anaheim Police Department

I just wanted to say I was impressed with your segment on Fox News Live. I felt you were very well informed and have a strong opinion about the economy, and housing situation. It was nice to hear someone making sense of this whole economic situation. (Responding to appearance on "Hannity")

Mark Hanlin

Connie, from the brief clip of you that I saw tonight, I have to say I was impressed--you presented your position well, with authority and expertise (not everyone can keep up with Hannity). My thoughts...gosh, where do I begin?? At the risk of sounding like a right-wing whacko, I must admit I'm concerned with the direction our country is taking, fiscally, politically, socially. And coming from 20+ yrs in the military, throw national security into that mix! I definitely think TARP was a BAD idea, and I'm supremely disappointed in the previous administration for setting us down that path. I've noticed over the past 10 or so years that I've become something of a news junkie, and now wish I'd paid more attention in Poli Sci class...! I will be very interested to see what happens in the next several years. (Responding to appearance on "Hannity")

Jim Morris

Connie, I just saw you on Hannity and wanted to send you a message. Right on target with your outlook on the economy and housing. Absolutely stunning also.

Steve Klar, ERGONOIC REALITIES

I saw you on Sean Hannity show tonight. You really had a lot of good thoughts on banks and how our tax dollars are being wasted on them. I agree with your conservative values.

Ray Ralston, Arizona

Hello Connie, I saw your interview on the Sean Hannity show the night of May 7th. You are right. Most people don't get what is happening to our country. Obama is marching us to Communism. The government is taking a little at a time.My son and I are trying to get into real estate investing over the last 2 years. Because of one thing or another, including me losing my job last July, and have not found one since, it has been a slow go. Now the government is changing the rules almost daily and making it extremely difficult to get any property. We may have found something just in the last week and are proceeding with an offer and hopes of a loan approval in a short time. This would finally be our first investment.

Maria Apodaca, California

Good Evening Connie, I saw you on Hannity this evening and I was very impressed with what you had to say. A conservative voice is very unusual in LA. I admire people who speak up and are not ashamed of what they believe. Thank you for taking a stand!

Tracy Grote, MAI, CCIM- TRACY GROTE & COMPANY, Austin Texas

Ms. De Groot, THANK YOU for presenting an aspect of the real estate industry to the public through your interviews on the various TV shows. As you may be aware, Costar stated today that during the 1Q2009, the commercial real estate brokerage firms are realizing a decline in sales and market activity. Whereas the housing market lead the way in the real estate downturn due to poor lending practices and underwriting, the commercial real estate market is next in line. Again, THANK YOU for presenting a logical, concise, real-world look at our present economic situation.

Connie in New York on "HANNITY"-

I went to New York to do several shows and was fortunate enough to be on with Sean Hannity. I know that many out here in California do not share his opinions but it is my feeling that he presents both sides of an issue as he did the night I appeared. To view this segment that appeared on the FOX NEWS CHANNEL May 8, 2009 just click on the link!

Hannity Recorded May 7, 2009, FNC
Connie De Groot on Hannity (In studio) May 7, 2009