





Shaun Donovan, secretary of the U.S. Department of Housing and Urban Development, said that the Federal Housing Administration is going to permit its lenders to allow homeowners to use the $8,000 tax credit as a down payment.



In 2008, Congress enacted a $7500 tax credit designed to be an incentive for first-time homebuyers to purchase a home. The credit was designed as a mechanism to decrease the over-supply of homes for sale.
Well... most home owners have probably received their property tax assessments and wondering... WHAT THE HECK! I found this document posted by Oakland County (LINK), explaining how properties are assessed and why your TAXABLE values probably didn't go down, (unless your SEV happened to go down with it). If your SEV did happen to come down but your Taxable Value didn't... this document will explain why that is.
A tax credit of up to $8,000 is now available for qualified first-time home buyers purchasing a principal residence on or after January 1, 2009 and before December 1, 2009. Unlike the tax credit enacted in 2008, the new credit does not have to be repaid!
by Phoebe Chongchua
I know this isn't refering to the Gladwin Area. However, it's happening in Ann Arbor. This should also be good for us up here in the north. If there are new jobs in Ann Arbor and people are still doing well in Ann Arbor, then that could also mean that people will continue to buy vacation homes, up here in the north! Granted, that some of these are foreclosure sales, but others aren't.
By Luke Mullins, USNews.com Dec 19th, 2008
If new mortgage applications are a reliable gauge of forthcoming home purchases, looks like we've got a bumper crop taking shape out there.
Okay... If you can't reach me by phone, email me instead. This is where I have been spending my evenings. Out in the back woods!
REThink Real Estate





McLEAN, VA -- Freddie Mac (NYSE:FRE) today released the results of its Primary Mortgage Market Survey (PMMS) in which the 30-year fixed-rate mortgage (FRM) averaged 5.94 percent with an average 0.6 point for the week ending October 9, 2008, down from last week when it averaged 6.10 percent. Last year at this time, the 30-year FRM averaged 6.40 percent.
These beautiful swans were on our lake yesterday morning. Click HERE to see more photos.
With the unprecedented shocks on Wall Street and the financial sector still pulsing through the national economy, it's difficult to predict just how all this will ultimately affect real estate.
Although Wall Street's woes got a lot of attention on Capitol Hill last week, so did the continuing crisis in home foreclosures.
Super cute cottage with lake access to beautiful Blue Lake. Enjoy the best of both worlds, with the lake being just across the street & the back yard bordering hundreds of acres of state land, leading to the Cedar River. This home features new windows and half-log siding in 2004, updated bathroom in 2008, full basement & more! Enjoy quiet Blue Lake with an excellent swim beach, fantastic fishing, private park with stream, playground & walking trails. Truly an up north paradise!
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Find out more about BLUE LAKE ESTATES at http://www.ilovebluelake.com/Opening allows criminals to intercept e-mails and redirect messages
By Jordan Robertson
LAS VEGAS - A newly discovered flaw in the Internet's core infrastructure not only permits hackers to force people to visit Web sites they didn't want to, it also allows them to intercept e-mail messages, the researcher who discovered the bug said Wednesday.
Considering the silent nature of the attack and the sensitive nature of a lot of electronic correspondence, the potential for damage from this second security flaw is high. But there's no evidence yet that this method of targeting e-mail has been used in a successful attack.
Dan Kaminsky of Seattle-based security consultant IOActive Inc. exposed a giant vulnerability in the Internet's design that, in one case, allowed hackers to reroute some computer users in Texas to a fake Google.com site loaded with automated advertisement-clicking programs, a scam to generate profits for the hackers from those clicks.
The flaw wasn't in the site itself, it was in the back-end machines responsible for guiding computers to that site.
The vulnerability Kaminsky found is especially insidious because it allows criminals to tamper with machines whose reliability and trustworthiness is critical for the Internet to function properly.
Kaminsky, who spoke Wednesday at the Black Hat hacker conference in Las Vegas, has given few details publicly about the vulnerability he found in the Domain Name System (DNS), a network of servers used to connect computers to Web sites.
He remained tightlipped so that Internet providers would have time to fix their machines. Many have done that, but others have delayed, leaving some people at risk.
Major vendors like Microsoft Corp., Cisco Systems Inc., Sun Microsystems Inc. and others have issued patches — software tweaks that cover the security hole and prevent affected machines from ingesting the bogus information hackers are trying to feed them.
"The industry has rallied like we've never seen the industry rally before," Kaminsky said.
Kaminsky's talk Wednesday at the conference was packed, with people sitting on the floor of the main speaker's hall and overflowing out the back doors. His presentation instantly became one of the Black Hat conference's most anticipated after he announced July 8 that he'd found a major weakness in DNS, a critical part of the Internet's plumbing.
While some details leaked out early — security researchers accurately guessed parts of Kaminsky's discovery — he was able to keep a few juicy bits secret until the talk.
One of those was the susceptibility of many e-mail servers to the DNS vulnerability, an opening that gives criminals a way to plant themselves in the middle of the transmission from the sender to the recipient and redirect messages to their own servers, Kaminsky said.
The result: criminals have a way not only to comb through the contents of those messages, but also to gain access to other password-protected Web sites the victims belong to.
That's because most sites have a feature that allows members to retrieve their passwords by e-mail if they've forgotten them. If a criminal has access to the account where that message is sent, he can then begin snooping on the contents of that account, from e-mail, to banking, to retailer sites.
The thrust of the DNS flaw is that it allows hackers to attach bad information to packets flowing in and out of DNS servers so they change the directions they give to certain Web sites.
It's the equivalent of turning around a street sign to send drivers down the wrong street.
So someone who innocently types in the address of a legitimate Web site can be strong-armed instead into going to a malicious site under the criminal's control. Because the attack happens at the network level, and the browser believes it's visiting the legitimate site, the attack is nearly impossible for users to detect.
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Gaping Internet security hole discovered
Reporters booted from conference for hacking
Many e-mail servers are vulnerable because they also handle DNS traffic, Kaminsky said. Even if they only handle internal inquiries, if they interact with external DNS servers, that's often enough to expose them to attack.
Hackers are thus able to manipulate the packets associated with e-mail traffic the same way they manipulate the packets associated with general Web traffic.