The Missouri Auditor has released a report detailing issues at the Monarch Fire Protection District.
Missouri Auditor releases findings on Monarch Fire District
Published at April 18th, 2012Ex-boyfriend charged for kidnapping woman in Lincoln County
Published at April 11th, 2012On Thursday morning, police said a woman escaped after a man forced her into the trunk of her own vehicle in Lincoln County, Missouri.
http://www.kmov.com/news/local/Woman-escapes-after-being-abducted-in-Lincoln-County-139445163.html
Three Primary Reasons for Dropping Home Sales
Published at April 5th, 2012The housing market has been a roller coaster. But one factor has remained stable throughout the housing crisis: Fewer millennials have bought homes over the last 30 years. There has been a severe drop in homeownership of all single people below the age of 40. Research confirms that in the 20-year period between 1980 and 2000, 20-something people owning homes dropped from 43% to 38%. Those in their forties did worse, dropping in home ownership from 61% to 55%. It got worse during the economic recession, where both groups homeownership cut in half, based on Federal Reserve reporting.
Experts say that several issues cause the declines in under-forty homeownership, but the student loan factor is a huge constraint to home ownership. Bloomberg Business reports that there is presently a combined trillion dollars in outstanding student loan debt. This debt has would-be buyers waiting to buy a home until they can get a better job and payoff their student loan.
Joblessness has also added to deteriorating home sales for this demographic. Employment figures are gradually improving. It is suspected that once unemployed percentages fall to a more manageable ratio and more jobs are added, specialists tell us that home buying for the under -forty gang will go up. But for now, having job security is essential for buying a home.
Another interesting fact is that home ownership is somewhat based on marriage statistics. Really. Until marriage stats go up, look for singles to rent. It’s simple when you think about it. The single individual has to accept the costs of student loans, car payments, and monthly bills. Throw in a mortgage and perhaps homeowner association fees on top of the usual bills, and buying a home is difficult. Married folks usually have two-incomes; pooling both paychecks makes the costs of homeownership less difficult in today’s iffy times.
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Man hospitalized following St. Louis shooting
Published at April 4th, 2012A 22-year-old man is recovering in the hospital after he was shot in the hand while talking to friends in north St. Louis.
http://www.kmov.com/news/local/Man-hospitalized-following-St-Louis-shooting-139458638.html
Ex-boyfriend charged for kidnapping woman in Lincoln County
Published at March 28th, 2012On Thursday morning, police said a woman escaped after a man forced her into the trunk of her own vehicle in Lincoln County, Missouri.
http://www.kmov.com/news/local/Woman-escapes-after-being-abducted-in-Lincoln-County-139445163.html
New Real-Estate-Owned Initiative
Published at March 26th, 2012Thanks to a new initiative, the glut of bank owned home may be taking baby-steps towards helping the problem. The housing bust of the last several years has left us reeling. Lots of people want to buy foreclosures as a way of investment. Sometimes the processes and paperwork is so overwhelming, it puts off potential buyers. Sometimes the glut of REO homes depress the housing values in the various areas. Until the homes that are bank-owned are cleared out, the housing market will likely continue to decline.
The Federal Housing Administration (FHA) publicized a new REO Initiative that will launch in metropolises hardest hit by the housing disaster. This new REO Initiative allows eligible investors to prequalify and start the eligibility procedure to join in on the REO Initiative pilot program
Once prequalified, the REO Initiative will allow qualified investors to buy pools of foreclosed properties, with the condition that they fix the homes and turn them into rental properties for a certain number of years. Regions once worsening will begin the renewal process, helping the prices of surrounding homes increase. This rental period will allow declining neighborhoods caused by vacant and worsening homes, to begin again. Homes will be renovated and filled with renters.
This is great news for those in homes surrounded by foreclosed homes. Homeowners in these neighborhoods have seen the value of their homes in steep decline as they are surrounded by decay. These rental periods, will allow neighborhoods to reestablish themselves by having people in once-vacant homes. As home value begin to stabilize, home prices will rise and neighborhoods will no longer be in decline.
Should investors wish to prequalify for the pilot program, they can go online and check out all the requirements and agreements at the FHA’s REO Initiative prequalification page. The prequalification process must ensure that the investors have the financial ability to manage properties and take care of updating the homes to livable conditions for renters. Investors will have to prove their knowledge of financial and business issues to manage the properties. Investors must also be able to prove they comprehend all risks and criteria involved in the pilot.
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