The POTUS will be in Las Vegas from 11am - 3pm PDT, where he is expected to discuss details. Nearly 30% of Virginia mortgage holders are in negative equity, and this kind of program could help them refinance -- if they choose to stay in their homes.
Related: The ProPublica guide to failed save-the-housing-market programs from the Obama Admin.
A Charlottesville/Albemarle Area RE Blog tracking the market's Boom Bubble Bust Bounce, from 2008 to 2013. The second half of 2010 saw a steep downward spiral in sales; 2011 saw sales volume at 13 yr lo with prices dropping each Quarter. 2012 began with even lower prices which resulted in an uptick in Y/Y sales, and mid-2012 saw "Carpe Diem" trumping "Caveat Emptor." 2013: Booming. Are we a "Protected Market" once again? Time will tell. * Check out the microblogging on Twitter: @CvilleBubble *
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