if the sky is really blue.  This is because over the last three months real estate data is mixed and seems to be reporting an up and then down and then up again market.  This month, in the Colorado Real Estate magazine, Tucker Hart touches on this point explaining the source of many numbers for those in the real estate community.  

In response to criticism, the Obama administration is pressuring banks offering loan modification programs to ease the hefty restrictions.  This is according to a Wall Street Journal article published January 28.  As of December 31, there were just about 900,000 trial modifications granted but only 66,465 has been approved due largely in part to problems with documentation.  Complaints have been rampant that the mortgage companies are losing paperwork and not being responsive.  Additionally, the tax documentation has been criticized as cumbersome to many.  It is taking many applicants several months to get all of the paperwork complete.  One of the moves being pushed is to not begin the trial payment period of three months until all required paperwork is in place.  This will not address the other major problems homeowners and mortgage companies are facing; underwater mortgages.  Increasingly, homeowners are walking away when they owe more on the mortgage than the house is worth.  This is especially troublesome in markets that have seen home values fall of 30% or more.  There is not an easy solution for this. 

This month, the data released shows a nice spike in activity in November due to the expiration of the initial First Time Homebuyer Tax Credit.  Subsequent activity has fallen.  This is expected due to the holiday lull.  February begins the season and March we are in full swing; looking forward to the activity!  Interest rates are inching back towards 5%; we will see where this goes over the next week.   With the real estate season kicking off for 2010, we invite our readers to check out some of our featured great listings.