"The role of the non-profit sector in the housing market crisis is to allow homeowners a way out of negative cash flow while using property to do good in the community."
Washington DC (Vocus/PRWEB) February 07, 2011
A recent Freddie Mac Survey shows that mortgage rates rose in the latest week bringing the average rate on 30-year-fixed-mortgages to 4.8%, up from the previous week's 4.74%. The Mortgage Bankers Association predicts the upward trend in mortgage rates will continue to rise to 5.3 percent later this year, leaving many homeowners wondering what the housing market will be like for the rest of 2011.
With mortgage rates projected to rise even more this year, real estate analysts from the Federal Reserve as well as Morgan Stanley are saying that the housing market will see a slump lasting well into 2012; according to a December report by Morgan Stanley analysts say the housing market will continue to be weak through 2011, with house prices dropping by 11% . The result? It's the same as the cause. No one in America today would touch a new mortgage with a ten foot pole. Buying a new ten foot pole might actually be a better investment anyway. At least it won't cost you thousands in capital loss.
"Americans aren't sure if we've hit rock bottom in the housing market yet because estate values keep plummeting," says Vincent Everett (CEO Works of Life International Ministries), "Just recently John Mauldin--he's a financial and investment expert--wrote that before the housing market crisis is behind us values will decrease by another 20 percent." Everett stresses the high degree of unanimity from many of the nation's leading analysts forecasting low demand, higher mortgage rates, and diminishing property values throughout 2011.
Everett continues, "Many neighborhoods are being hit hard by a wave of home foreclosures. This drives property value way down which makes it really hard to invest successfully in real estate nowadays." The Works of Life CEO is one of many experts in the philanthropic community trying to spread the news about alternatives to putting a non-producing property on the market. If you're an investor or need to liquidate property for whatever reason, Donate Real Estate to Charity isn't just a way to get rid of property that no longer generates income: "A charitable estate contribution is a sound investment in itself," mentions Everett, "Most importantly tax deductions for real estate donations are remarkably large; Also, entrepreneurs and property investors who want to improve their real estate portfolios will recognize the value of being able to drop a property immediately once it has stopped generating positive cash flow."
Real Estate with Causes also offers businesses as well as banks an avenue through which they can donate larger commercial buildings. "It's beneficial to them because they save on taxes, insurance, liabilities; it's all about saving in this economy, what can we do for them," mentions Everett.
Works of Life is a charitable donation organization in operation for over a decade. "We saw the need to launch our real estate program Real Estate with Causes a long time ago because our mission and obligation as a faith-based, non-denominational, non-profit organization is to provide charitable assistance to those less fortunate on a huge scale. This means finding new and productive ways of doing charity that go beyond the bucket and bell we are used to seeing. It helps the donor financially and provides charitable assistance to many worthy causes at the same time." Works of Life and Real Estate with Causes, together with their charitable programs from the With Causes charitable network, donate computer, donate car, online boat donation, and aircraft donation, accept a variety of asset donations that benefit many worthy causes worldwide.
Mr. Everett adds, "Unfortunately the non-profit sector is teeming with fraud, which means we have to work especially hard to publicize our proven track-record of giving back to communities all across the us. The projects that Works of Life and our affiliates are involved in have gotten recognition by large news agencies such as USA Today, Huffington Post, and Forbes. A major reason Works of Life, OnlineBoatDonation, OnlineCarDonation, and Real Estate with Causes receive national attention is because we give donors the opportunity to make sound investments while giving back to communities in need." The CEO believes that combining alternative property investment options with humanitarian assistance is an important economic engine that can bring the nation a little closer to economic recovery. "
"Analysts are not optimistic about the housing market in 2011, and even the more favorable projections say property values will stay stagnant for the better part of the year, which really isn't anything to be cheerful over," mentions Everett. The severity of the mortgage breakdown in the US together with widespread foreclosures has ousted more home owners than were created in the 2000-07 housing boom, according to a recent post by the Wall Street Journal. "Demand is painfully low," says the Works of Life Chief Executive, "If you put a house on the market, you'll need all the luck in the world trying to sell it because no one is buying. Especially if you are an investor, keeping a property that hurts your real estate portfolio is a dangerous move financially. The role of the non-profit sector in the housing market crisis is to allow homeowners a way out of negative cash flow while using property to do good in the community."
1081 S. Cimmaron
Las Vegas, Nevada 89145
About Real Estate With Causes/ Works of Life Intl. Ministries Inc.:
Operating since 2002 Works of Life is a non-profit, non-denominational faith-based charitable organization that provides charitable works for other like-minded organizations in the form of endowments, grants and much, much more.
Their clients range from social service agencies to private non-profits, hospitals and more importantly individuals with special needs including victims of crime, military families, those with physical challenges and victims of abuse.
Works of Life has enjoyed a successful relationship with many like-minded charitable Organizations, developing residential based programs for those interested in Ministering to others but limited physically in doing so.
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