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Morgan Stanley down Stock Market up! - 09/18/08 02:16 PM
Morgan Stanley's stock price plunged again Thursday. John Mack, the No. 2 U.S. investment bank's chief executive, has reached out to China's Citic Group overnight about a possible investment, according to a person familiar with the talks. Morgan Stanley is also considering a combination with retail bank Wachovia Corp.
The stock market, on a $100 billion ++ invesetment from the FED and other nulti-nation banks has rallied up more than 330 ++ points with 40 minutes left in trading.
Hopefully, the capitulation we saw in the last 3 days is our proverbial 'Rock bottom" and we can get started on the … (1 comments)
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bailout - taxpayer exposure - 09/18/08 02:10 PM
The Federal Reserve has backstopped the purchase of Bear Stearns to the tune of $29 billion.
It will loan $85 billion to insurer AIG. It's letting banks borrow up to $150 billion using risky mortgage-backed securities as collateral. And it's letting investment banks, which it doesn't regulate, get short-term loans using the central bank's discount window.
The numbers are big. That much is certain.
And the government might not be finished. Some Democrats on Capitol Hill are arguing for an expansion of the FHA program for troubled borrowers. And talk is building that the government might have to set up … (1 comments)
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3 Investing tips & Tricks - 09/18/08 02:07 PM
I good friend of mine has made a fortune in real estate, in high-flying markets and has protected himself against losses in housing declines, reminds me every Easter (his favorite holiday , I might add) , "Don't put all your eggs in one basket! " when it comes to real estate; especially here in Phoenix, Scottsdale, Peoria, Tempe and Fountain Hills.
He offered these 3 tips and when I am done finding Easter eggs with my nephew Sam (once in a awhile, I will even let him find it before I grab it) .... I will explain in more detail tomorrow … (5 comments)
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Is your Bank next ?? - 09/11/08 10:24 AM
Despite the the bailout of Freddie and Fannie <script type="text/javascript"></script> and Lehman's questionable survival,
the S&P 500 Financials Sector is still up over 20% since hitting a low in mid-July
an ETF that tracks the financial sector).
Will the Financials stay above their July lows or fall back with the latest news?
Check the latest data on how short interest has changed over the past few months and where bets are being made
Data from Thomson Reuters shows that short positions for some of these banks are still up from where they were six month ago.
However, in the last … (0 comments)
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Gas back to $4/gallon ? - 09/11/08 10:20 AM
"We're looking at the highest wholesale prices ever for a huge swath of the country," he said. "People understand that regardless what happens with Ike, it's going to shut down the biggest refining cluster for a period of five, six, seven days."
The wholesale price of gasoline ranged from $4 to nearly $5 a gallon at the U.S. Gulf Coast on Thursday, said Tom Kloza, publisher and chief oil analyst of the Oil Price Information Service in Wall, N.J. That is up significantly from about $3 to $3.30 a gallon on Wednesday, Kloza said.
Gasoline prices jumped to unprecedented levels in … (0 comments)
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Will Lehman Brothers survive ? - 09/11/08 10:18 AM
Lehman is down more than 94% from its all-time high just months ago.
The stock price unraveled in early trading Thursday after analyst reports cast doubt that the nation's fourth-largest investment bank can survive.
Lehman Brothers Holdings Inc.'s rescue plan is getting a dismal reception from Wall Street with shares of the battered bank plunging 41 percent.
Shares fell $2.99, or 41 percent, to $4.26 -- down more than 94 percent from their 52-week high of $67.73.
Other financial stocks were also pulled lower amid fear that banks and brokerages still have more pain to go before the year-old credit crisis … (0 comments)
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Bond Market help interest Rates - 09/11/08 10:16 AM
Bond prices rose as stocks pulled back early today on Wall Stree. Not always a good thing. Unless you are a short of the markets. Or if you are planning on locking a 30-year fixed or 15 year fixed mortgage (or an adjustable rate mortgage.)
Bonds were strong as he yield on the benchmark 10-year Treasury note, which (bond interest rates) moves opposite its price, fell to 3.62 percent from 3.63 percent late Wednesday.
30-year fixed or 15 year fixed mortgage and adjustable rate mortgage are also all lower today.
… (0 comments)
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stocks fall, oil falls, rates fall - 09/11/08 10:13 AM
Today on Wall Street , stocks fall, oil falls, rates fall
stocks retreated Thursday as investors dumped shares of Lehman Brothers Holdings Inc. and other financial names over worries it is becoming harder for them shore up their balance sheets.
Oil prices are fallin as well against a strong dollar
Bond prices rose as stocks pulled back. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.62 percent from 3.63 percent late Wednesday. The
… (0 comments)
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mortgages overdue or in foreclosure rose again - 09/10/08 07:12 PM
in the second quarter as housing markets weakened, particularly in California and Florida, and more borrowers defaulted on so-called prime loans.
The rate of U.S. home mortgages overdue or in foreclosure rose again
Among mortgages on one- to four-family homes, 9.16% were at least a month overdue or in the foreclosure process in the second quarter, according to the latest survey by the Mortgage Bankers Association, a trade group. That is up from 6.52% a year earlier and is the highest level since the MBA began such surveys 39 years ago.
… (0 comments)
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cell phone listings by reaestate.com - 09/10/08 07:10 PM
Smarter Agent, a developer of location-specific real estate searches, has teamed with RealEstate.com and other listings providers throughout the country to provide mobile phone users with access to a national database of real estate listings through an application called "Homes for Sale".
The application, launching today with two million listings from RealEstate.com, is available to only Sprint and AT&T customers, but the company plans expand it to other networks and phones, Hanson said. The program has been tested on and works on 80 different phone models for those two network providers, he explained. RealEstate.com estimates that it has the ability to … (0 comments)
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After 14 years of work, atom-smasher comes to life amid hoopla - 09/10/08 07:02 PM
After 14 years of work, atom-smasher comes to life amid hoopla
It's a fantastic moment," Lyn Evans, the project leader for the Large Hadron Collider, said afterward. "We can now look forward to a new era of understanding about the origins and evolution of the universe."
After 14 years of preparation, a new scientific wonder of the world opened for business Wednesday with the official startup of Europe's Large Hadron Collider.
The $10 billion particle accelerator is the biggest, most expensive science machine on earth, designed to probe mysteries ranging from dark matter and missing antimatter to the existence of extra, … (0 comments)
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Lehman tries to soothe Wall Street with asset sale- - 09/10/08 06:54 PM
Stocks ended a temperamental session moderately higher Wednesday as investors bought up the stocks of energy, materials and consumer-staple companies, but remained cautious about the beleaguered financial sector.
Lehman tries to soothe Wall Street with asset sale- the abiltiy to raise money will be a telling sign of things to come. If there is an apetite for Lehman stock or debt, that bodes well for other Wall Street investment banks to raise need capital to not only stay in business but to lend on mortgages so we can get this real estate market moving again.
… (0 comments)
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Great Commercial opportunity - 09/10/08 06:49 PM
6). NNN Retail-Office Building AVAILABLE (Rancho & Alexander Business Park), Las Vegas, NV 89130Fully-Leased, NNN Investment. Excellent Cap Rate, Cash Return and Price per Square Foot. Located Within a Very High Growth Area. First Rate Tenants Within Business Park. Very Close to Major Freeways. Very High Visibility with Easy Ingress & Egress. Strong Parking Throughout Entire Park. Expected Completion Date: August 2007.
Vacancies at Close of Escrow, If Any, Shall be Fully-Guaranteed.
Entire Park Consists of +/- 140,000 sq. ft. Price: $2,200,000.
Contact Dario Franceschi (702) 914-2200 / dariof1@cox.net,
or Jack McRae at (702) 372-1888 / Jack.McRae@svn.com for a full marketing … (0 comments)
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Housing Crisis - obama vs. mccain - 09/06/08 03:45 PM
Housing Crisis
Foreclosure filings were up 55% year over year in July, according to RealtyTrac.com, an online marketplace for foreclosure properties. And many homeowners owe more on their home than it's worth.
From John McCain's (R., Ariz.) gas-tax holiday to Barack Obama's (D., Ill.) universal health-care plan, appealing to cash-strapped consumers is on the top of the presidential candidates' agendas.
Both candidates promise to lower prices at the pump, make medical bills more manageable and keep homeowners in their homes. Of course, no matter who gets elected, there's no guarantee that these plans will come to fruition.
Likely Result: Both candidates … (1 comments)
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Health care policy of Obama and McCain - 09/06/08 03:44 PM
Health Care
Health-care costs continue to soar while more Americans are forced to pay out of pocket for medical expenses.
presidential candidates economic policy tale of the tape
McCain: In an effort to incite competition among insurance companies and medical providers, McCain wants to shift the responsibility away from employers and into individuals' hands. Under McCain's plan, almost everyone will receive a refundable tax credit ($2,500 for individuals and $5,000 for families per year) to use toward private insurance or an employer-sponsored plan. In addition, McCain plans to work with state governors to offer coverage to those with low incomes … (0 comments)
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Candidates Fuel policy - 09/06/08 03:43 PM
From John McCain's (R., Ariz.) gas-tax holiday to Barack Obama's (D., Ill.) universal health-care plan, appealing to cash-strapped consumers is on the top of the presidential candidates' agendas
Are you ready for the presidential candidates economic policy tale of the tape
John McCain: Endorses offshore drilling as a way to reduce the country's dependence on foreign oil. The Arizona senator also wants to institute a $5,000 tax credit to consumers who buy a zero-carbon-emission car and smaller tax credits for those who buy cars with low carbon emissions
Barack Obama: Suggests tapping into a limited amount of oil from the country's … (0 comments)
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Candidates weigh in on Bailout of Fannie and Freddie - 09/06/08 03:39 PM
Fannie Mae and Freddie Mac together hold or back half of the nation's mortgage debt, and have played an increasingly important role in the real estate market since the credit crisis started in August 2007.
The historic takeover of Fannie Mae and Freddie Mac, which could come as soon as this weekend, moved to the forefront of the presidential campaign Saturday as candidates and congressional leaders seized on the enormous implications for taxpayers and the economy.
Sarah Palin said, "They've gotten too big and too expensive to the taxpayers. The McCain-Palin administration will make them smaller and smarter and more … (0 comments)
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Too important to Fail - 09/06/08 09:48 AM
The Housing Bill passed by Congress and signed into law by President Bush in July granted the Treasury the authority to inject capital into Fannie and Freddie and/or buy its shares outright. In theory, Treasury could spend as much as $800 billion on the troubled lenders, or the amount the government's debt ceiling was raised by the bill, The New York Times reported.
"The two entities are too important for the government to let them fail," Diane Garnick, investment strategist at Invesco, comments via email. "The plan need(s) to create a short-term solution to provide relief to the immediate credit crisis … (2 comments)
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a helping hand from the Treasury? - 09/06/08 09:43 AM
BAILOUT or just a helping hand from the Treasury?
"An announcement could come as early as this weekend," the Journal reports, leading to my second reaction: Not another weekend bailout!
Reaction number three: Is this why the st
Here comes the official government bailout of Fannie Mae and Freddie Mac. "
That was my first reaction to The Wall Street Journal's story late Friday declaring: "The Treasury Department is close to finalizing a plan to help shore up mortgage giants Fannie Mae and Freddie Mac."
ock market bounced Friday afternoon, despite the grim jobs report and with financials leading the way?
… (0 comments)
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No choice for FED - $5 Trillion on the line - 09/06/08 12:26 AM
the Bush administration had little choice but to support Fannie and Freddie, which together hold or guarantee $5 trillion in mortgages -- almost half the nation's total.
The pending bailout of Fannie Mae and Freddie Mac followed a report Friday by the Mortgage Bankers Association that more than 4 million American homeowners with a mortgage, a record 9 percent, were either behind on their payments or in foreclosure at the end of June.
That confirmed what investors saw in Fannie and Freddie's recent financial results: trouble in the mortgage market has shifted to homeowners who had solid credit but took out exotic … (2 comments)
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The FED is here to save the day - 09/06/08 12:22 AM
Alan Zibel, AP Business Writer reproted
Government may soon take over troubled mortgage finance giants Fannie Mae, Freddie Mac
The government is expected to take over Fannie Mae and Freddie Mac as soon as this weekend in a monumental move designed to protect the mortgage market from the failure of the two companies, which together hold or guarantee half of the nation's mortgage debt, a person briefed on the matter said Friday night.
Some of the details of the intervention, which could cost taxpayers billions, were not yet available, but are expected to include the departure of Fannie Mae CEO Daniel … (0 comments)
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Home Buying for Dummies - 09/05/08 03:29 PM
Home ownership can be a personally and professionally rewarding endeavor where most Americans can raise a family, call a house a home and create wealth.
However, often real estate professionals, mortgage brokers, friends and family will tell you things like
Don't wait, buy now. renting is a waste of money. Taking on debt is always o.k. real estate prices are going up you don't need a down payment Now, these advisers likely have your best interest in mind. Often, their advice is spot on. However, they do not know your personal situation.
I am a big believer that home-ownership can be … (3 comments)
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Foreclosure Options - contact your lender - 09/05/08 03:20 PM
Bart Marchioni, a Realtor at Keller Williams Realty - Silicon Valley, and a member and author of 3 Oceans Real Estate , one of the best Blogs on the real estate industry in California,
recently wrote an excellent 3-part series on "How to Avoid Foreclosure" which I recommend to all home sellers and buyers.
He reports on "11 Options for Homeowners facing foreclosure " which you can request report from Bart at his site - he breaks down your options into the following 3 parts:
Things you can do to try and keep your home Things you can do to … (7 comments)
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Mike McCulloch
Tempe,
AZ
More about me…
Liberty One
Office Phone: (480) 557-6900 x 111
Cell Phone: (586) 822-5729
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