Sunday, November 12, 2006

Hedging Election Bets


From the Inman News Blog:

No matter what the outcome of the elections, the real estate industry had all the bases covered. Although all the campaign spending numbers aren't in, real estate political action committees pumped at least $7.2 million into the midterm Congressional elections. Republican candidates got 57 percent of real estate PAC money and Democrats 43 percent, according to Open Secrets, which tracks campaign spending.
http://www.opensecrets.org/pacs/industry.asp?txt=F10&cycle=2006
According to Open Secrets, the National Association of Realtors PAC was the biggest spender of any in the nation, regardless of industry. NAR spend more than $3 million, with 52 percent going to GOP candidates and the remaining 48 percent to Democrats. With more than $1.9 million in campaign spending, The National Association of Home Builders was also among the nation's top 10 PACs. Republicans were much more likely to be the beneficiaries of the home builders' largesse, taking 74 percent of that pot to 26 percent for Democrats.
http://www.opensecrets.org/pacs/topacs.asp
The few real estate PACs that favored Democrats included -- surprise! -- Fannie Mae ($523,400 in federal campaign spending, 56 percent to Democrats) and Freddie Mac ($254,250, 52 percent to Dems).
Many of these PACs, including NAR, spent even more money on state elections.

1 comment:

  1. Hello,

    I recently published an article on mortgage loans, tips on how to make them work for you and other forms of mortgage financials – here is a quote from it, in case you are interested:

    Smell a Good Deal for a Real Estate – Try to discover a property that has already got some equity in it, when you purchase it. Equity represents the value of a real estate, a property after you have paid any mortgage or other charges relating to it.

    Try to Get a Second Mortgage on the Real Estate – You could try to be more creative and ask the seller whether he would be willing to have a second mortgage on that home. Thus you could set up an agreement with the seller through which you will have to pay monthly an approximate sum of $200, for instance, on $15,000 of the price of the real estate (plus or including the interest rate), for the second mortgage.

    Save Some Money to Pay in Advance – Some lenders might give you a full credit if you come with at least a small percentage of the sum. This would grant you supplementary points for getting the credit and would also lower the interest rate – e key point of any mortgage refinance program.

    Don’t Give up, Go Further – don’t trust the first broker who tells you that there is no hope for you. You will finally find someone who could offer a viable solution, just keep asking and searching. An alternative is to apply online to mortgage services. Thus your application would be seen by more lenders and you might get more offers to analyze your solvency.

    Improve Your Present Credit Score – by not applying to credit cards, auto loans or other loans, if possible. Too many inquiries would also affect credit scores. Another important thing you should do to improve your credit scores is to acquit your current duties and payments on time.

    If you feel this helps, please drop by my website for additional information, such as how to refinance a second mortgage or additional resources on mortgage rates.

    Regards,

    Michael

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