We are all anxiously awaiting a housing recovery so that home values and sales will increase and this turnaround will, hopefully, help pull us out of the current recession. The government is offering an $8,000 incentive to new homebuyers (and those who have not owned a home for three years) and, yet, people are still unsure if they want to take the risk. Everyone knows someone who has been through a foreclosure on their home, and no one else wants to go through this heartbreak and major financial setback. The Real Estate Industry and a number of homebuilders and developers are offering a solution to those people who are hesitating to commit to a home for fear of losing their jobs.

One major national real estate chain has developed a job loss protection plan for buyers. The seller of the home purchases the protection for a flat fee of $500 and includes it with the sale of their property. If the buyers lose their jobs within the first two years after they purchase the home, the plan will pay up to $1,800 per month for six months towards their mortgage payments. So many people are living in fear of losing their jobs that this extra insurance may be the extra incentive necessary to help them decide to purchase their new home.

A local builder is offering a similar program but his pays up to $1,500 per month and it is included in the price of the home.

I am certain that many real estate offices and builders will begin offering plans of this type to potential buyers in the hope of removing the stress and worry of job loss while instilling confidence in them to move ahead with the purchase of homes being offered at very competitive prices with low interest rates.

Real Estate Agents, as with most commissioned salespeople, want you to remember them when the time comes to make use of their services. The lady who sold my last house and who is a very successful sales representative, constantly stays in touch with her customer base.

Kathy, my personal real estate agent, is very good at what she does. She considers her specialty to be her extraordinary personal service and is available to help you whatever your needs may be. She waters plants, arranges for animal care, and helps you address all of the unusual things that can occur while moving into or out of a home. She’s a very good person to know, especially when you are relocating. She knows everything about her territory and is more than willing to provide you with any information you need.

One thing that Kathy does very well is to constantly stay in touch with her customers. She sends promotional material on a regular basis. In my home, I have notepads with her picture and phone numbers, promotional key rings and a variety of other useful items that will always keep her foremost in my mind. Her latest means of contact has been to send a newsletter about home-related topics. There are tips for getting ready for winter and articles advising you how much of a return you will get on specific home improvements in today’s market. All of her efforts accomplish her goal. They keep her constantly on your mind so, when someone indicates a need for a real estate person, I think of Kathy immediately and have been able to send some customers her way. I know she will take extremely good care of anyone I send to her and she is very appreciative of the referral.

The housing market has been in trouble for some time. However, recently, the number of foreclosures has been increasing rapidly and may be causing confusion as to the current availability of homes for sale.

The combination of lower home values, decreased volume of sales, less credit availability, and a slowing economy is placing financially strapped homeowners in a very difficult bind. Some have no other choice then to let their homes go to foreclosure.

Since many foreclosed homes are in the hands of the banks at this time, frequently they are not recorded as “homes for sale” on real estate listings such as MLS (Multiple Listing Service). Foreclosed homes also often sell for less money and, therefore, they will lower the prices of homes in the area.

The possible result of this information is that the housing market may be in more trouble than originally believed. The hope has been for sometime that the market has bottomed-out, but this may not be completely true. If many foreclosure sales are not included in the current calculations, we may have even more trouble ahead before this market can return to normal.

Meanwhile, our government is introducing a program, Housing and Economic Recovery Act of 2008, which will allow homeowners who qualify to cancel their old home loans and refinance with 30-year fixed-rate loans for up to 90 percent of the home’s current value. This may help many struggling families but can only apply to foreclosed properties if the bank agrees to take a loss on an existing loan in exchange for avoiding the high expense of processing a foreclosure.