Seems like every one is vying for a piece of the bailout pie.  Though some have expressed that little is being done to assist families facing foreclosure, a recent survey released by the Reecon Advisory report found that the majority of Americans, 51 percent of those surveyed, oppose using Federal bailout funds to help pay the mortgages of homeowners in default.  Forty-three of those surveyed favor helping homeowners in trouble.

The survey found that opposition to using bailout money to help defaulters is greatest among men (58.3 percent), elderly (56.2 percent) and those living in the Northeast (56.1 percent). Support for helping defaulting homeowners is greatest among young people age 18 to 24 (69.1 percent) and those earning less than $20,000 a year (60.1 percent).

David Lereah, president of Reecon Advisors Inc., an independent real estate economics and information company, says, “As a new Federal foreclosure policy unfolds in the months to come, public opinion will certainly play a central role. It’s clear that people have strong opinions and a candid and vigorous debate will improve the chances for a successful outcome. The outcome could shape the real estate markets for many years to come.”

ORLANDO, Fla., December 5, 2008 — Today eppraisal.com released its National Market Analysis Report for the three months ending October 2008. Of the 155 market areas tracked across the U.S., 127 markets (or 81.9 percent) saw a decline in median home values, which is up from 69.7 percent in the previous report. The data indicates that most major markets have yet to reach the bottom.

It’s all doom and gloom in the major markets, and the only safe havens seem to be the smaller markets. Areas that have pushed to the top of the list are smaller markets such as Hot Springs Ark., Medford, Ore., and Pueblo, Colo. Hot Springs saw an increase of 14.8 percent to a median value of $132,000. Medford saw an increase of 8.2 percent to a median value of $250,000. Pueblo saw an increase of 7.4 percent to a median value of $123,500. None of these markets have ever made it into the top 10 list before. In fact, most of the top 20 markets that saw increases in home values were smaller markets.

While the list is short, both Texas and Michigan lead the list with the most positive markets. In Texas, the Sherman-Denison, McAllen-Edinburg, and Waco areas all saw a positive increase of more than 2 percent. Sherman-Denison was up 5.7 percent to a median value of $99,694. McAllen-Edinburg was up 4.2 percent to a median value of $117,536. Waco was up 2.6 percent to a median value of $120,818. In Michigan, the three areas that stood out were Lansing, Monroe, and Kalamazoo-Portage. In Lansing the median home value increased 9.2 percent to $113,000; Monroe increased by 5.7 percent to $121,500, and Kalamazoo-Portage increased by 3.4 percent to a median home value of $120,000.

There are a lot of negative markets to choose from, but Florida and California lead the list with the most areas that saw declines. In Florida, Fort Walton Beach-Destin, Cape Coral-Fort Myers, and Naples all saw the highest declines in median values of 7.6 percent, 10.4 percent, and 15.4 percent respectively. In California, Santa Cruz, Stockton, and Bakersfield commanded the bottom of the list. Santa Cruz saw the greatest decline with a 11.1 percent drop in the median home value to $510,000. Stockton dropped 9.9 percent to $200,000, and Bakersfield dropped 9.7 percent to $176,000.

In previous reports the Carolinas showed signs of leveling off; however, in the period since then most markets within the Carolinas have given back those modest gains. For instance, Spartanburg, SC, dropped 7.2 percent to $89,000, and the Greensboro-High Point area of North Carolina dropped 7.1 percent to $131,000.

See a complete list of national rankings.

As more and more people turn to charities for help in the current economic slump, the charities themselves are finding themselves in need.  People faced with job loss, rising costs, foreclosure, etc. are more cautious about donating and volunteering their time.  Corporate donations are down as well.

Ironically, as less people are charitable, more people are finding themselves in need of charity.  Homelessness is on the rise, in large part to the real estate crisis.  Government initiatives seem focused on helping homebuyers, banks, and corporate entities.  Little or no focus appears to be on preventing homelessness.

As we head into the holiday season, consider offering whatever assistance to charities possible, whether it’s donating time, services, goods, or money.  Even the smallest donations have an impact when they happen on a grand scale.

Below is a list of charities that are working to prevent and help those faced with homelessness.

Habitat for Humanity

The National Coalition for the Homeless

Salvation Army

Catholic Charities USA

National Urban League

NeighborWorks

There are many more on both the local and national scale.  To find charities that support your community, search the Local Independent Charities of America Web site.

…and keep banks from going bankrupt.

Citigroup announced this week that it is freezing foreclosures among borrowers who are willing to work with them “in good faith.”  Furthermore, they are reaching out to homeowners who are at risk of becoming delinquent to offer assistance.

In order to to qualify, the home must be the borrower’s primary residence.  They must have sufficient income to cover a restructured mortgage — which may include adjusted interest rates, a reduced principal, or an increased loan term.

While these options will only be available to borrowers who have a loan with Citigroup initially, they plan to expand the program to include loans from other banks.

Is this a good solution?  Leave a comment telling us what you think.

eppraisal.com recently relaunched their Professional Directory, allowing people to search for real estate professionals in their hometown. The Directory includes more than 1.5 million real estate agents and home inspectors. Additional professionals will soon be added, such as mortgage brokers, contractors, and landscapers.

If you’re interested in buying, selling, or planning home improvements, search for a local professional who will meet your needs.

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