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- Alphonso Jackson, Bush’s incompetent Secretary of Housing, to resign. Mike Brown likely to replace him.
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incompetent - in·com·pe·tent1: not legally qualified2: inadequate to or unsuitable for a particular purpose3 a: lacking the qualities needed for effective action b: unable to function properly…
Original Source: bp1.blogger.com
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31 March, 2008| housingblogs |
Comments (0) @ 13:06
- Bits Bucket And Craigslist Finds For March 31, 2008
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Please post off-topic ideas, links and Craigslist finds here.
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Original Source: thehousingbubbleblog.com
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31 March, 2008| housingblogs |
Comments (0) @ 12:33
- Investment Value of Residential Real Estate
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Investment Value of Residential Real Estate
The United States Department of Labor Bureau of Labor Statistics measures the Rent of primary residence (rent) and Owners’ equivalent rent of primary residence (rental equivalence). They make this distinction because a house has both a consumptive purpose and an investment purpose. The consumptive value is measured by rent or rental equivalence. There is legitimate financial reason pay more than the rental equivalence price. The normal rate of house appreciation – not the unsustainable kind witnessed during the Great Housing Bubble – can provide a return on investment. The source of this added value is the leverage of mortgage financing and the hedge against inflation obtained through a fixed-rate mortgage. The investment premium, which is about 10%, is less than most people think.
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Original Source: feeds.feedburner.com/IrvineHousingBlog
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31 March, 2008| housingblogs |
Comments (0) @ 12:30
- ATTENTION PEOPLE OF PHILADELPHIA - YOU NO LONGER HAVE TO PAY YOUR MORTGAGES! YOU CAN LIVE IN THE BANK’S HOME AND PAY ABSOLUTELY NOTHING!
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Housing Anarchy is here. And a big thank you to the monkeys running the show in Philadelphia. You have just lit the fuse, and you have just told the people to stop paying their mortgages. Amazing….
Original Source: bp1.blogger.com
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31 March, 2008| housingblogs |
Comments (0) @ 11:53
- “The numbers for us continue to rise”
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From the Trenton Times:
Singing the mortgage blues
Otis Boone describes his housing problem as “a funny situation,” but stories like his have become common in Mercer County and around the country.
In August 2005 he and his wife moved out of Trenton and got a zero-down loan on a newly built home on Saratoga Avenue in Ewing Township. Boone, who worked in the shipping department at a train manufacturer, hurt his back the following year, went on disability and saw his income cut in half.
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Original Source: njrereport.com
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31 March, 2008| housingblogs |
Comments (0) @ 11:17
- John McCain draws a crystal clear line in the sand - NO GOVERNMENT BAILOUTS FOR FAILED BANKS & MORTGAGE GAMBLERS. Well, maybe not that clear of a line
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“It is not the duty of government to bail out and reward those who act irresponsibly, whether they are big banks or small borrowers”…
Original Source: bp3.blogger.com
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31 March, 2008| housingblogs |
Comments (0) @ 10:09
- I Tawt I Taw da Bottom in Santaluz
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Mirasol is a Santaluz gated community of 52 homes built in 2005. Homes in the community are in the 4,000 to 5,000 sqft range and initially sold for $1.1 to $1.6 million back in 2005. …
Original Source: bp2.blogger.com
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31 March, 2008| housingblogs |
Comments (0) @ 9:06
- Headed On Vacation, Need Some Help
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Hi Gang,
On Saturday I’m headed to Mexico via a nice cruise from San Diego down to Mazatlan, Cabo, et al. I’ll be gone about 10 days. I’m trying to load up some posts in the meantime, but I would love some guest posts while I’m gone.
I’ll open it up to any Blown Mortgage reader. Hit me up with an email with your post and I’ll queue it up while I’m gone. Put your name, business and a link at the bottom so you get some props for your work.
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Original Source: feeds.feedburner.com/typepad
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31 March, 2008| housingblogs |
Comments (0) @ 6:51
- PIMCO on the bailout: "A handout to the fool"
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If you’re up for some pragmatic, pro-bailout, big-picture thinking, check out this interview with PIMCO economist Paul McCulley. I’ll summarize and highlight, but encourage you to read it for yourself.
McCulley’s take on real estate right now is that no-money-down, underwater homeowners are making a rational business decision by walking away from their mortgages (where have we heard that before? …
Original Source
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31 March, 2008| housingblogs |
Comments (0) @ 5:12
- [List-o-links] 3-31-08 Credit Crunch Update
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The Crunch bar has always been one of my favorites but it never seemed to last as long as I wanted it to and no matter how hard I tried, I always ended up with some of it on my hands.
This candy bar has a taste we can’t seem to get rid of.
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Original Source: matrix.millersamuel.com
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31 March, 2008| housingblogs |
Comments (0) @ 5:01
- Corus Stands at a Precipice In the Condominium Bust
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Federal regulators are stepping up warnings to banks on their exposure to commercial-real-estate construction and development loans, putting Corus Bankshares in the cross hairs.
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Original Source: feeds.realestatejournal.com
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31 March, 2008| housingblogs |
Comments (0) @ 5:00
- Two REITs Sell Shares To Raise Cash
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General Growth Properties Inc. and Capital Trust Inc. are trying to take advantage of a small resurgence of stocks in this sector after a battering over the past few months.
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Original Source: feeds.realestatejournal.com
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31 March, 2008| housingblogs |
Comments (0) @ 5:00
- FHA May Aid Those ‘Underwater’ on Loans
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The White House is weighing a plan to help people who owe more on their mortgages than their homes are worth.
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Original Source: feeds.realestatejournal.com
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31 March, 2008| housingblogs |
Comments (0) @ 5:00
- Sidney Kimmel to Sell Home for $81.5 Million
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The sale, if it closes, is the highest in Palm Beach and one of the largest sums paid for a U.S. single-family property.
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Original Source: feeds.realestatejournal.com
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31 March, 2008| Uncategorized |
Comments (0) @ 5:00
- Bargain Hunters Descend On Cape Coral-Fort Myers
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As desperate sellers slash prices in Florida’s Lee county, buyers circle, looking for deals. Both groups have the same question: How much more will prices fall?
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31 March, 2008| housingblogs |
Comments (0) @ 5:00
- Homeowners Trash Their Homes Before Handing Over the Keys
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Borrowers who have lost their houses to foreclosure are stripping out appliances, punching holes in walls and dumping paint on carpets before turning their properties over to bankers and mortgage companies.
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Original Source: feeds.realestatejournal.com
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31 March, 2008| housingblogs |
Comments (0) @ 5:00
- Real estaters unite
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NIMBYs be leary of LIREO.
In a rare atmosphere of solidarity, a new alliance among real estate industry trade groups had its first summit Thursday, and the result may be a new campaign to promote development on Long Island.
The Long Island Real Estate Organization — LIREO — is a cooperative effort between the Association for a Better Long Island, the Long Island Builders Institute, the Long Island Board of Realtors, and the Commercial Industrial Brokers Society.
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Original Source: spacedoutli.wordpress.com
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31 March, 2008| housingblogs |
Comments (0) @ 2:44
- What’s in a name?
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Donald Trump’s troubles at Jones Beach could have been avoided, says one insider.
If only Trump’s partner Steve Carl had made the application solo, it wouldn’t have made such a splash with local activists. Carl might have gotten the variances — with less public pressure — and could have added the Donald as a partner after the fact.
Sneaky? Maybe. But probably no more than busing dozens of anti-Trump retirees from the South Shore to pack the state’s hearing on the matter last month.
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Original Source: spacedoutli.wordpress.com
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31 March, 2008| housingblogs |
Comments (0) @ 2:43
- $4.5M for Hauppauge building
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The Fuocco Group, an accounting firm with offices in Manhattan and Hauppauge, recently purchased 200 Parkway Drive South in Hauppauge for $4.5 million.
The firm will occupy about a third of the building’s 30,000 square feet joining the eight other companies that lease there.
Jeanine Lanza from Paragon Group in Syosset brokered the deal.
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Original Source: feeds.wordpress.com
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31 March, 2008| housingblogs |
Comments (0) @ 2:42
- Taos Real Estate MLS Search Outage
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I apologize to visitors who tried to search listings the last few days. I was on a business trip when my web hosting provider changed my server. It apparently didn’t go smoothly, and my search pages were missing for a few days. I am sorry, but they are up now, and they promise no more moves anytime soon….
Original Source: galleryrealtyoftaos.com
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31 March, 2008| housingblogs |
Comments (0) @ 2:41
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