GE not a buy, ye, what's their problem? Their real estate holding is a drag.
"What's different now is that players such as GE that didn't take too
many risks will find themselves stuck in the quagmire of excess space,
falling rents, and tighter credit even after demand picks up. While
rental rates and property values should turn around in 2011 and 2012,
analysts figure GE's portfolio may suffer at least until 2014. "There
is a dramatic lag effect," says C. Stephen Tusa Jr., an analyst at
JPMorgan Chase (JPMC). "They are going to take their lumps." He estimates GE's properties will lose $8 billion in value through 2012."
Since multiple contracts have become the norm in this market, esp. leading up to Nov. 30th deadline. A colleague told me her buyer contract was one among 32 contracts for a single home foreclosure in the $300's range! Hellooo..
So, the pecking order: 1) CASH (is king), 2)Conventional loan, 3) FHA, and 4) VA. Though, sometime stroke of luck do show up, like showing a large EMD drawn from a gov credit union helped...my buyer's win the bidding war.
According to the TIGTA report, the IRS had their computer match up filed tax returns with Form 1098s from 2004 and 2005 showing residential mortgage interest paid by individuals. There were hundreds of thousands of 1098s that had no corresponding tax return on file...