The Creel Deal ®

5 Days to Find a Home

2009-06-30T20:51:39Z

Just 5 days, that's what I have to find a home. I don't need a home for myself, but my best friend my cat "Buddy".

Having traveled through Iraq for the last 14 months I've used pet-sitters to come to our home and check on his needs, and I don't think it's been good for him.

I'm crazy about my Buddy, I adopted him from the pound when he was just 4 months old. He was a gift for my wife, but he seemed to gravitate towards me (hence the name Buddy).

I leave for Afghanistan on July 5th and I may be gone anywhere from five to twelve months this time; my wife will be living in China while I'm gone.

I'm desperately trying to find Buddy a Foster home for the time I'm gone, and I would certainly cover his expenses and pay $100 a month for his food (not that he could ever eat that much).

He's a very gentle cat, and enjoys being around people. Most cats are loners, but Buddy's a people person. Please email me or call if your even remotely interested. My home is in Bellevue's Somerset neighborhood.

Call 425 301 9143

Unemployment, Just How Bad Is It?

2009-04-08T07:13:05Z

Seems each day I read the paper or watch the news more and more people are losing jobs, and businesses closing. I decided I really wanted to see the cold hard numbers for myself, and get a clear picture of just what's gone on in the U.S. over the last year.

I spent some time on the Department of Labors website pouring through the Bureau of Labor Statistics massive data base. Here is what I've learned, and it's not pretty. Keep in mind as you look at these numbers, a "mass layoff action" means at least 50 people were laid off.

January 2008: employers took 1,438 mass layoff actions; number of workers involved totaled 144,111. The number of initial claims due to mass layoffs increased for five consecutive months; 427 mass layoff events were reported in the manufacturing sector, resulting in 55,488 initial claims.

California recorded the highest number of initial claims filed due to mass layoff events in January (38,715), reflecting layoffs in administrative and support services. Other states with large numbers of mass layoff-related claims were New York (18,636), Alabama (10,160), Pennsylvania (9,644), Ohio (9,352), and Illinois (9,106).

February 2008: employers took 1,672 mass layoff actions; the number of workers involved totaled 177,374.

California recorded the highest number of initial claims filed due to mass layoff events in February (32,747), followed by Pennsylvania (8,204), Florida (6,572), Illinois (6,344), and New York (5,912). These five states accounted for 56 percent of all mass layoff events and 50 percent of all initial claims for unemployment insurance in February.

March 2008: employers took 1,571 mass layoff actions, the number of workers involved totaled 157,156. The manufacturing sector accounted for 31 percent of all mass layoff events and 38 percent of all related initial claims filed.

California recorded the highest number of initial claims filed due to mass layoff events in March (21,812), followed by Pennsylvania (12,745), Wisconsin (7,067), Illinois (6,694), and Ohio (6,236). These five states accounted for 51 percent of all mass layoff events and 42 percent of all initial claims for unemployment insurance in March.

April 2008: employers took 1,308 mass layoff actions, the number of workers involved totaled 133,914. The manufacturing sector accounted for 31 percent of all mass layoff events and 37 percent of initial claims filed.

California recorded the highest number of initial claims filed due to mass layoff events in April with 28,172, followed by Michigan (11,156), New York (7,539), and Pennsylvania (7,506).

May 2008, employers took 1,626 mass layoff actions, the number of workers involved totaled 171,387. The manufacturing sector accounted for 25 percent of all mass layoff events and 32 percent of initial claims filed.

California recorded the highest number of initial claims filed due to mass layoff events in May with 34,085, largely due to layoffs in motion picture and sound recording industries and in administrative and support services. The next highest states reporting mass layoff initial claims were New York (9,613), Pennsylvania (8,975), Florida (8,841), and Kentucky (8,666).

June 2008: employers took 1,643 mass layoff actions, the number of workers involved totaled 165,697. The manufacturing sector accounted for 40 percent of all mass layoff events and 54 percent of initial claims filed.

California recorded the highest number of initial claims filed due to mass layoff events in June with 44,754, largely due to layoffs in educational services and in administrative and support services. The states reporting the next highest number of mass layoff initial claims were Pennsylvania (14,835), Florida (10,751), and New Jersey (9,512).

July 2008: employers took 1,512 mass layoff actions, the number of workers involved totaled 151,171. The manufacturing sector accounted for 40 percent of all mass layoff events and 54 percent of initial claims filed.

California recorded the highest number of initial claims filed due to mass layoff events in July with 33,250, largely due to layoffs in administrative and support services and in educational services. The next highest numbers of mass layoff initial claims were in Michigan (27,672), Ohio (19,402), and Kentucky (11,907).

August 2008: employers took 1,772 mass layoff actions, the number of workers involved totaled 173,955. The manufacturing sector accounted for 29 percent of all mass layoff events and 37 percent of initial claims filed.

California recorded the highest number of initial claims filed due to mass layoff events in August with 36,120, largely due to layoffs in administrative and support services and in motion picture and sound recording industries. The states with the next highest numbers of mass layoff initial claims were New York (10,760), Florida (9,849), and Ohio (7,994).

September 2008: employers took 2,269 mass layoff actions, number of workers involved totaled 235,681. The manufacturing sector accounted for 28 percent of all mass layoff events and 36 percent of initial claims filed.

California recorded the highest number of initial claims filed due to mass layoff events in September with 34,584. The next highest states reporting mass layoff initial claims were Louisiana (14,929) and Texas (10,616). Six states reached program highs in 2008 for the month of September; Indiana, Ohio, Texas, Washington, Wisconsin, and Wyoming.

Thirty-five states registered over-the-year increases in initial claims associated with mass layoffs, led by Louisiana (+14,366), California (+13,440), and Texas (+8,010). The effects of Hurricane Gustav in Louisiana and of Hurricane Ike in Texas contributed to the higher September 2008 layoff activity in those two states.

October 2008: employers took 2,140 mass layoff actions, the number of workers involved totaled 232,468. The manufacturing sector accounted for 32 percent of all mass layoff events and 45 percent of initial claims filed.

California recorded the highest number of initial claims filed due to mass layoff events in October with 51,286. The next highest states reporting mass layoff initial claims were Ohio (17,764) and Michigan (16,851).

Twelve states reached program highs in average weekly initial claims in 2008 for the month of October; Alabama, Alaska, Florida, Georgia, Idaho, Indiana, Michigan, Nebraska, Nevada, Ohio, Utah, and Wyoming.

November 2008: employers took 2,328 mass layoff actions, the number of workers involved totaled 224,079. The manufacturing sector accounted for 39 percent of all mass layoff events and 45 percent of initial claims filed.

California recorded the highest number of initial claims filed due to mass layoff events in November with 47,690. The states with the next highest number of mass layoff initial claims were Michigan (14,657), Wisconsin (13,966), and Indiana (13,420).

In 2008, 15 states reached program highs in average weekly initial claims for the month of November; Alabama, Arizona, Florida, Indiana, Iowa, Kentucky, Mississippi, Montana, Nevada, New Mexico, North Dakota, Ohio, Oregon, South Dakota, and Tennessee.

December 2008: employers took 2,275 mass layoff actions, the number of workers involved totaled 226,117.

California recorded the highest number of initial claims filed due to mass layoff events in December with 43,265. The states with the next highest number of mass layoff initial claims were Ohio (27,836), Illinois (25,885), and Michigan (24,508).

In January 2009 employers took 2,227 mass layoff actions that resulted in the separation of 237,902 workers. In January, 738 mass layoff events were reported in the manufacturing sector, resulting in 102,577 initial claims.

During the 14 months from December 2007 through January 2009, the total number of mass layoff events was 25,712, and the number of initial claims was 2,632,336.

(December 2007 was the start of a recession as designated by the National Bureau of Economic Research.)

In February 2009, employers took 2,769 mass layoff actions involving 295,477 workers. Mass layoff events increased by 542 from January, and initial claims increased by 57,575. Layoff events for all industries and for the manufacturing sector rose to their highest levels on record. Thirty states reached program highs in average weekly initial claims.

California recorded the highest number of initial claims filed due to mass layoff events in January with 54,153. The states with the next highest number of mass layoff initial claims were New York (31,893), Pennsylvania (29,656), and Ohio (27,971).

In 2009, 18 states reached program highs in average weekly initial claims for the month of January; Arizona, Florida, Georgia, Idaho, Iowa, Kentucky, Michigan, Montana, New Mexico, New York, Oregon, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, and West Virginia.

Employers took 2,769 mass layoff actions in February that resulted in the separation of 295,477.

So as anyone can see by looking through these numbers, we're far from being out of the recession. Please keep in mind; these are only the "mass layoff" stats, which don't include terminations of fewer than 50 people BYone employer.

Each month, states report on employers which have at least 50 initial claims filed against them during a consecutive 5-week period. These employers then are contacted by the state agency to determine whether these separations lasted 31 days or longer, and, if so, other information concerning the layoff is collected. States report on layoffs lasting more than 1 month on a quarterly basis.

Convicted Kidnapper Pursues Agent

2009-03-17T10:07:18Z

As the fallout from the financial crises continues, and the criminals that perpetrated fraudulent loans are brought to justice, some of us as agents may be pulled into the fray.

Approximately three years ago I represented a very nice women that had been manipulated into buying a home by her own boss, a mortgage company Vice President.

She had been convinced to allow him to use her credit in what he claimed would be a very profitable "flip". He explained the need to "use her credit" by claiming his was simply maxed-out from his vast real estate holdings involving other flips.

Within days of the closing for the property, her boss was carted off to prison by US Marshalls; it appeared that he was a fugitive. Once he was hauled off to prison in Nevada, and then California, she was left with a monthly mortgage of almost $5,000. As a loan processor, she made only about 24k a year. With her boss in prison, she also lost her job.

The victim asked for my assistance in the matter, and I listed & sold the home with the lenders cooperation as a Short Sale; I was able to get a majority of the loan paid off.

Then it got interesting: As some of you may recall, in May of 2008 I left on hiatus for Iraq to work with the US military, a decision I've been very pleased with.

Shortly after arriving in the Middle East, I was contacted by the King County Washington DA's office and asked to assist in the prosecution of a Mr. Julian Cauvin, who was in fact being charged for the theft of almost $90,000 at the closing of the "flipper property".

----------------------------

Julian Cauvin Investigation‏

From:	Williamson, Linda (Linda.Williamson@kingcounty.gov)
Sent:	Thu 7/03/08 4:53 PM
To:	mwcreel@hotmail.com

Dear Mr. Creel -

My name is Linda Williamson and I am a mortgage fraud investigator with the King County Prosecutor's Office in Seattle. We are conducting an investigation of Julian Cauvin and understand from another witness that you might have information that would be beneficial to our case.

I understand that you are working as a contactor in Iraq. Do you have access to a phone there so I could call you to ask you a few questions about Mr. Cauvin? If so, please provide a phone number and the best time and day to reach you. (Please include the time difference, as I am incredibly geographically challenged.)

Thanks in advance for your assistance in this matter.

Linda Williamson

Linda Williamson, Investigator
Complex Prosecutions and Investigations Division
King County Prosecutor's Office
500 Fourth Avenue, Suite 840
Seattle, WA 98104
(206) 296-9073

----------------------------------------

Mr. Cauvin had apparently not only left my client holding the note on the home, but had taken over $80,000 cash-back at closing (according to charging docs).

Over the last 10 months as this matter has progressed through the court system, the accused has launched an inconceivable slander campaign against me and other witnesses. He's created websites claiming I'm on run from the law and have fled the country to avoid prosecution for fabricated crimes.

He's even gone so far as to post warnings that anyone seeing me should contact the FBI because they're looking for me. He's claimed on his site that I'm a drug addict, a drug dealer, and that I frequent "gay bars".

Some of his claims are that I've "posed as a law abiding citizen for years" and that as an agent, I list homes to "case" them and later remove items from them, or vandalize them.

He has sent several emails to me indicated his goal is to destroy my real estate career and have my license pulled. Public records indicate he is mentally ill and is supposed to take medications to control his issues.

I know he has sent emails to various associates of mine, including those in the Middle East, making the same type of outrageous claims.

Anyone that knows me knows such claims are absurd.

I've worked for several years with the fine people at Brio Realty and Active Rain on a daily basis, and I'm confident my reputation with them will remain intact. None of my clients have ever expressed dissatisfaction with my services.

However, most AR members only know me through my blog, and I wouldn't want them to be mislead into believing I'm something I am not by a posting on a blog, or an unsolicited email they may receive.

As a result of his claims, I've undergone a second and more extensive background check to continue my work with the military, and as a result of the investigation his claims were confirmed as false (or believe me, I wouldn't still be here).

As part of that investigation, the Seattle DA sent out this email:

-----------------------

From: Seaver, David
Sent: Tuesday, December 23, 2008 8:20 AM
Subject: Michael Creel

To whom it may concern:

I am writing in response to an e-mail I recently received from Michael Creel concerning an assertion made against him to XXXXXX. I have reason to believe that the assertion was made by an individual I am currently prosecuting for felony theft named Julian Cauvin.

The charges against Cauvin are proceeding in King County Superior Court, in Seattle, Washington. Cauvin has demonstrated a pattern of attempting to harass witnesses that the State intends to call against him and I believe that he may be behind the latest effort involving Mr. Creel.

Mr. Creel is not under investigation by the Bellevue, Washington, police department. That agency received a complaint from Cauvin, and determined it to be baseless.

If you have any questions, please feel free to contact me directly any time at (206) 296-9070 or by e-mail at david.seaver@kingcounty.gov .

Thank you very much for your consideration.

Sincerely,
David Seaver
Senior Deputy Prosecuting Attorney
Complex Prosecutions and Investigations Division
Office of the King County Prosecuting Attorney
(206) 296-9070
david.seaver@kingcounty.gov

------------------------------------------

Now I could literally write a book on this whole adventure, but instead I've opted to place his criminal history on a site I own called allreaders.net. The postings on my site are not a blog, not my opinion, merely a collection a criminal charges, mug-shots, and convictions spanning 20 years. There are also photos on the site that were sent to me by a visitor that has had dealings with him.

Anyone reading this post may wish to visit the site to familiarize themselves with this fellow. He is still attempting to operate as a mortgage lender in Washington State even today.

I'm not telling anyone they shouldn't do business with him, merely suggesting you educate yourself on who he is prior to doing so. I have contacted the DOJ, DA, FBI, and my attorneys to try and put and end to his harassment and slanderous claims, but this could take time. I could sue him, but he has no money.

If he contacts anyone of you via Active Rain, or post comments on your blogs, I do apologize for the inconvenience. I hope you will bear with me while this case continues to move forward through the Courts and he is at least temporarily removed from society if found guilty of the crimes for which he stands accused.

Expanding Your Horizons

2008-11-18T00:09:56Z

Six months ago as the collapse of the economy appeared inevitable I decided to not just think out of the box, but to step out of it; I decided to work in Iraq. Having previously ventured to countries such as China and Italy, I had always entertained the idea of working overseas.

Unfortunately as Americans, we're really not given the skills as children to make this an easy task. Most of us just can't grasp the metric system, or speak any language other than English. While other countries, perhaps out of necessity, raise their kids with the aspiration of traveling abroad to work, we do not.

Instead what we seem to do is encourage the belief that money will come to you if you just work hard, and sometimes thats not the truth. Many work hard all their life, and have little to show for it.

Having become involved in this Expatriate lifestyle, I've seen and met many Americans who for the first time have ventured abroad. Many had never previously been out of the town or city they were born in, and I'm not just talking about young people.

Sometimes, from hardship and disaster something good is born. As bad as war is, and as bad as our financial crises is, they have motivated thousands of Americans to venture out into a world they had never considered before; a world only seen to them on television, and at the movies. The people now working in places like Afghanistan, Iraq, Kuwait, Dubai, and even Africa, are all making very good money, and sending it home to the U.S.

Many don't have advanced degrees, or any degree at all for that matter. Some are young, and had few opportunities in America to earn a good living.

They've come here to earn $88,000 to $120,000 per year, and they pay a fortune into the Social Security System, which desperately needs the infusion (currently there are an estimated 5 million Americans living abroad; many are retired).

When their vacation time comes they visit countries like Germany, Italy, Thailand, and China. They are seeing the world, and building a solid future for themselves. These Americans come in every age group, and profession. They are Foremen, Plumbers, Electricians, IT, Medics, Fireman, Truck Drivers, and yes, even a Realtor or two. Many stay for years, and some for only days.

So for those of you that aren't making ends meet right now, or are just tired of looking at the same four walls and driving down the same congested freeway each day, give some thought to stepping out of the box for a year or so. You won't melt, and you may even learn the metric system.

When Good Real Estate Goes Bad

2008-09-15T10:46:14Z

Over the last year or so we have all seen the news flashes of real estate scams being exposed and people going to jail. Often I seek out such stories to share with others, so these lessons can be learned from.

Today I ran across a truly bizzarre fraud case while looking through online court records. One thing that really stood out to me was the dates of the crimes; obviously mortgage fraud has been an issue for quite some time.

I do not know any of the people mentioned in the article, and these are public records available to anyone; this is not from a news report, but from actual court records.

A jury convicted Doyle Spruill and David Saks on one count of conspiracy to defraud the United States, 18 U.S.C. § 371, and five counts of bank fraud, 18 U.S.C. § 1344.

Spruill and Saks were business partners in Omni Interests, Inc., a commercial real estate development company, based in San Antonio. Omni specialized in the development of office buildings, shopping centers, and apartment projects in different locations throughout Texas. In 1983, Spruill and Saks formed a limited partnership, Omni/Corpus Christi Limited, to acquire and develop a large tract of land in Corpus Christi.

They purchased the property for $3 million in 1984 as a location for a large shopping center. They had the property rezoned and began negotiations with major mall developers. By year end, however, Omni had financial problems. Spruill and Saks needing cash for the company's short term financial obligations, decided to borrow, with the Corpus Christi property as collateral.

They approached Peoples Savings & Loan Association, where officials informed them that they would need about $14 million to pay existing debt on the property and keep their company afloat. Peoples could not handle a loan of that size, and referred them to Security Savings Association.

That was a fateful day. In December of 1984, Spruill and Saks met with Cliff Brannon and Don Jones, co-chairmen of the board of Security and owners of a controlling interest in it. They asked Brannon and Jones for a loan of $14 million. They had obtained an appraisal valuing the property at $24 million, based on its potential as a site for a regional shopping mall. Brannon and Jones listened and promised to let them know soon. The prospective lender, it seems, saw in this prospective loan a solution to its own unrelated but serious problem.

The year before, Security had loaned Ray Stockman about $20 million to develop Chaucer Village, a condominium project in Dallas. When Saks and Spruill walked in, Chaucer Village had failed. Officials of the Federal Home Loan Bank Board had determined that the Chaucer Village loan had been "overfunded" by about $5 million. The Board had directed Brannon and Jones either to write down the loan, that is, to establish a loss reserve against the overfunded amount, or cover it with new capital. Without an infusion of funds from some outside source, Brannon and Jones would effectively be out of business or under supervisory control, since Security's net worth would fall below the minimum regulatory requirements. They did not have the money.

Brannon and Jones explained to Stockman that Spruill and Saks had requested a $14 million loan, but that by lending $19 million, with Stockman as a business partner, Saks and Spruill could pay Stockman $5 million of the loan proceeds. Stockman would then pass the $5 million to Security for the troubled Chaucer Village loan.

Stockman's name would not appear on any loan documents, hiding from federal regulators the tied transactions. In short, the proposal was a shuffle of the $5 million debt from Stockman and the Chaucer Village project, in which the regulators were keenly interested, to Spruill and Saks and the Corpus Christi project, where there was no apparent impropriety. There would be no real infusion of capital, since the source of the funds to cover the Chaucer Village loan would originate with Security itself. The transaction would create the appearance of such an infusion, however, so as to placate the FHLBB.

Brannon and Jones persuaded Stockman with the suggestion that he would receive no further funding absent his help. The two bankers then told Spruill and Saks that the loan came with Stockman as a partner and the $5 million added would never leave the bank but would flow through Stockman to Security. They explained the Chaucer Village loan and why Stockman could not appear on any of the paper work. Spruill and Saks objected at first, but succumbed. Spruill later said that he felt that their backs were against the wall and they would lose everything they had if they did not agree to the deal.

So then, on January 14th of 1985, Omni/Corpus Christi borrowed $19 million from Security and two closely affiliated banks, Meridian Savings Association and Peoples Savings and Loan Association. The Corpus Christi property was pledged as collateral. Spruill and Saks signed a loan agreement reciting that the loan was for the sole benefit of the lender and borrower and was not for the benefit of any third party. Stockman's name was not on any of the closing documents. Robert Brown, Meridian's attorney and the preparer of the closing documents, later said that he was completely unaware of Stockman's role. The same day, Spruill, Saks, and Stockman formed Crosstown Joint Venture to develop the Corpus Christi property. At the insistence of Spruill and Saks, Stockman also signed a separate guaranty of the $19 million that Omni/Corpus Christi had borrowed.

A few days later, Spruill took $5 million of the loan proceeds and made out a cashier's check to Stockman for this amount, ostensibly for his services as an "advisor" in Crosstown Joint Venture. Stockman rendered no such services. Spruill gave the check to Jones, who met with Stockman, gave him the check, and had him purchase a certificate of deposit in the name of his company, Condo Homes Corporation.

Condo Homes then wired the money to Security to pay down the Chaucer Village loan. Security informed federal regulators that a purchaser had been found to take over Chaucer Village and pay off the loan, but did not disclose the true source of the funds. With the shuffle complete, Omni was left to carry a $19 million debt, over 25% of which it had never received.

In 1986, Meridian sued for foreclosure on the Corpus Christi property. Spruill and Saks counterclaimed against Meridian, Security, and Peoples, asserting that the loan was usurious. They argued that part of the loan transaction was a sham, since $5 million was not in fact loaned to Omni/Corpus Christi but was diverted to Security for Stockman's debt. Crosstown Joint Venture was merely an artifice conceived by Security to hide the true nature of the relationship between Spruill, Saks, and Omni/Corpus Christi on the one hand, and Stockman on the other.

Spruill and Saks signed pleadings detailing the fraudulent nature of the loan arrangement, and Spruill testified at length about the transaction in depositions.² Spruill and Saks ultimately won a settlement in this lawsuit dissolving the Omni note and requiring the banks to pay them approximately $2 million.

In 1990, the government indicted Saks and Spruill on charges of conspiracy to defraud the United States and aiding and abetting bank fraud. There were two theories: first, that they defrauded federal regulators by concealing Stockman's involvement in the loan transaction, and second, that they defrauded the banks of their money. Saks testified in his defense at trial. Spruill did not but the court admitted Spruill's deposition testimony from the civil suit into evidence.

The jury found both defendants guilty on five counts of bank fraud, 18 U.S.C. §§ 2, 1344, and one count of conspiracy to defraud the United States, 18 U.S.C. § 371.

Read Entire Case Here

I’M NOT LEAVING NOW, RESCUE ME LATER!

2008-09-13T23:07:01Z

It never ceases to amaze me when disaster is imminent, and warnings to evacuate are given, some just sit there. Many say the same brave words "If the Lord wants to take you, he will". Yet it seems when the Lord comes knocking on the door, they call 911.

That's what irks me the most when these disasters strike and tens of thousands of homeowners loose everything they've worked for. At a time when resources are already stretched thin, they have to be stretched further to accommodate those hardheaded holdouts that have such bravado in the beginning, and none in the end.

I can't help but ask myself these questions:

How many people should risk their lives to go rescue these former brave souls?
How many millions should be spent?
Should these people face criminal charges for ignoring a mandatory evacuation order?
Should they bear civil penalties for the expenses incurred rescuing them?
Should they face criminal prosecution for the death of anyone that's attempting to rescue them?

Although I've been fortunate enough to never face an evacuaiton warning, I have lived in Texas, Louisiana, and Florida; and believe me, you only need to tell me once its evacuation time. By current estimates, in Texas alone 140,000 people ignored the warnings and stayed; now they all need to be rescued.

Before the choppers carry them to saftey, perhaps they should leave a note for the Lord and let him know they've changed their mind.

Liars Loans are Back!

2008-08-11T03:28:34Z

We've all heard of Liars Loans, the infamous loan given to borrowers based on nothing more than the lie's they put on their application. Lately the term has taken on a new meaning for me; now liars are sending me loan applications!

In May I began receiving offers for low interest loans for just about anything I want to use them for. They seem to come daily now. I know people in the business wouldn't bite into this little scam, but I have no doubt someone in dire need of cash might.

Because so many of my previous post have resulted in "thank you" emails from people that searched Google and discovered my warnings after receiving such offers, I felt I should post this one as well.

All of these "lenders" will asked for upfront fee's to be paid, and of course, no loan will ever come of it.

-----------------------------------------

From: WILLIAMS LOAN INVESTMENT info@mrdmantelloanfirm007.com
Subject: URGENT LOAN OFFER (APPLY NOW)
Date: Monday, May 12, 2008, 11:37 PM

Hello

I am osmald williams a private Loan lender and a cooperate financial for real estate and any kinds of business financing.

I also offer Loans to individuals, Firms and cooperate bodies at 3% interest rate per annum and 0.5% interest rate monthly base, loan terms determinant, Loan amount between the sum of $5,000.00 to $50,000,000.00 US Dollars.Loan for developing businesses a competitive edge/ business expansion.

We offer the following kinds of loans:

* Personal Loans (Secure and Unsecured)

* Business Loans (Secure and Unsecured)

* Consolidation Loan

* Combination Loan

-Low Down or Zero Money Financing Program Available

-Great Refinance Programs with competitive rates, Fixed, Arms, Interest Only.

-Quick Cash Loans: Home Equity Lines of Credit and 2nd loan-Self-Employed,

Stated, No Income/No Asset.

FIRST INFORMATIONS NEEDED ARE:

Full Name:...............................

Country:...................... ...........

Marital status:..............................

Contact Phone numbers:.........................

Amount Needed :.........................

Loan Duration........................

Contact E-mail:mrdmantelloanfirm007@gmail.com

THERE IS NOTHING TO LOSE BUT YOUR DEBT AND FINANCIAL PROBLEMS !!!

Here to show you a better way to financial freedom !!!

Thanks

Warm regards

Osmald Williams

------------------------------------------

From: Ky Mortensen KMortensen@vetmed.lsu.edu
Date: Friday, August 8, 2008, 12:11 PM

Goodday,

Are you a business man or woman ? Are you in any financial mess or do you need funds to start up your own business? Do you need loan to settle your debt or pay off your bills or start a nice business?

Do you have a low credit score and you are finding it hard to obtain capital loan from local banks/other financial institutes? Do you need a loan or funding for any reason such as:

a) Personal Loan,Business Expansion,

b) Business Start-up ,Education,

c) Debt Consolidation ,

d) Hard Money Loans

We offer loan at low interest rate of 5% and with no credit check ,we offer Personal loans, debt

consolidation loans, venture capital,business loans, education loans, home loans or

"loans for any reason!".

However, Our method, offers you the chance to state the amount of loan needed and also the duration

you can afford, This gives you a real chance to get the funds you need!

Any interested Applicants should get back to me on my email at mrdavidwall@live.com

Thanks.

-----------------------------------------------

From: David Williams lsokolov@ugr.es
Date: Saturday, August 9, 2008, 12:16 AM

Good day

I am a financier I am willing to lend out loans with the interest rate of 4% and with in the amount of $10,000 to $5,000,000 as the offer, I offer loan to all categories of people, firms, companies, all kinds of business organizations, private individuals and real estate investors, I give out loans at very cheap and moderate rates.

I am a certified, registered and legit lender. You can contact me today if you are interested in getting this loan, contact me for more information about the loan process, process like the loan terms and conditions and how the loan will be transferred to you. I need your urgent response if you are interested. You are to contact me with this

Email:david.williamsloans@hotmail.com

I hope to hear from you.

Best Regards

Mr David Williams

--------------------------------------------------

From: David Wall <mrdavidwall@live.com>
Subject: LOAN APPLICATION FORM
Date: Sunday, August 10, 2008, 1:44 PM

Hello,

Below this mail is the loan application form. Please fill out the application and return it to me. I have also included my contact information below. I look forward to assisting you with your loan needs at 5%. Please feel free to contact me if you have any questions.

I WANT YOU TO FILL THE LOAN FORM, USING THE CORRECT DETAILS, I WILL BE LOOKING FORWARD TO YOUR RESPONSE

LOAN APPLICATION FORM

Name (Mr., Mrs., Ms., Dr., etc.):
First name:
Middle name:
Last name:
Date of birth (yyyy-mm-dd):
Gender:
Marital status:
Total Amount Needed:
Time Duration
Address:
City:
State/province:
Zip/postal code:
Country:
Phone:
Fax:
Mobile/cellular:
Monthly Income
Occupation:
E-mail:

Sincerely,

Hilton Financial Services, U.K.
6 Old Bond Road
Wood green, London, U.K. N22 6DS.
+44-704-571-6068
+44-704-572-2115 Offices

----------------------------------------------------------

From: DAVID WILLIAMS david_williamsloans@hotmail.com
Subject: Re:Loan
Date: Monday, August 11, 2008, 12:01 AM

DAVID WILLIAMS LOAN FIRM.
CALLE MOSTOLES 15/B 28925, ALCONCON
MADRID SPAIN.
TEL: 0034-615-178-680
FAX: 0034-911-013-765

Attn:

The content of your mail was noted.

We are large scale investment located here in spain, approved by the spanish government, we offer loans to private companies and individuals.

Kindly indicate how much you need as a loan to enable us proceed with this loan transaction, with maximum or $10,000,000.00 with 3% interest rate.

I await your swift response.

You can reach me via 0034-615-178-680

DAVID WILLIAMS

(loan agent)

--------------------------------------------

As you can see by reading my previous blog, the name David Williams is becoming common in scams (or versions there of). http://activerain.com/blogsview/632880/Scamming-in-the-Rain

Scamming in the Rain

2008-08-09T08:03:35Z

Yesterday I received an email sent via Active Rain by a Williams David & Associates. Apparently investment houses in England aren't able to handle large investments in the U.S. and need my assistance (I'm flattered). If anyone reading this would like to assist this person in investing twenty eight million, be my guest. -----

From: Williams David <willy_david123@yahoo.co.uk>
Subject: INVESTMENT PROPOSAL (Sent via Activerain)
To: "Michael Creel (Brio Realty Inc.)" <creelrealty@yahoo.com>
Date: Friday, August 8, 2008, 3:21 AM

You've received a contact message from your Contact Form on the ActiveRain network.

Message details:
From: Williams David
Email: willy_david123@yahoo.co.uk
Subject: INVESTMENT PROPOSAL

Williams David & Associates.
14 Queens Drive South West London
England
United Kingdom.
Attn: Managing Director/CEO

Dear Sir,

We have our presence in all major cities in London. However, we are writing you on the strength of a directive from one of our clients, a 56-year-old widow, who desires to invest twenty eight million United States dollars (US$28,000,000.00) overseas preferably in Asia or America.

She has directed us to look for a viable investment portfolio (opportunity), partnership or an individual who can be trusted to invest or oversee the investment of her twenty eight million United States dollars (US$28,000,000.00) in America or Asia.

It is important you note the source of this fund legitimate as our client has provided sufficient evidence to support this claim. Since our operations are limited to Europe and our experience in the investment portfolios (opportunity) in America and Asia is shallow, as we are not conversant with the law in America and Asia concerning such a huge investment.

In our quest to find a valid and viable investment portfolio in America and Asia inline with our client's directive, we decided to contact you, we got your companies contact information from the internet, however you will be expected to provide us with a background information concerning your self and your companies to enable us make an evaluation and advice our client on which line of action to take.

Our client has proposed a commission/percentage of the investment (US$28, 000, 000, 00) for your services; however the said percentage is negotiable. We look forward to your immediate response.

Yours Faithfully,

For:- Williams David & Associate
Williams David
willy_david123@yahoo.co.uk

Seven Days?

2008-08-04T00:39:54Z

In the beginning, God created Heaven and the Earth.

However, before he even began, God was faced with a citation from the regulatory board.

God was granted a temporary permit for the project, but quickly received a cease-and-desist order for the oceans he planned to build; he had failed to submit an environmental impact statement.

Then God said, "Let there be light!" Immediately, the regulatory board demanded to know how the light would be made, would there be strip mining? What about thermal pollution? Was the light harmful?

God explained that the light would come from a large ball of fire. God was granted provisional permission to make light, assuming that a burn permit would be obtained, that there would be conservation of energy via green construction methods, and that the light would be out half the time.

God said, "Let the earth put forth vegetation, with plants yielding seed and fruit trees bearing fruit." The advisory board agreed to approve this, as long as only native seed was used and a licensed arborist was hired to select the location for each tree.

It seemed all was fine until God said the project would be completed in seven days. The officials said it would take at least 200 days to review the applications and environmental impact statement; after that would be the public hearing, and then it would be 10-12 months before ...

At this point, God moved on to create Hell

More Jokes

Are the Gods Angry at California?

2008-07-30T09:50:20Z

Seems poor California just can't ever get a break! Earthquakes, fires, heat waves, and foreclosures, all located on some of the most beautiful real estate in the U.S. It Just doesn't seems fair.

When I was 21 I moved to Pismo Beach California and had the best time of my life. I grew up in a small town in Texas, and it's about as opposite of the Cali beach town you can find. Every day I was amazed at the beautiful weather and scenery, and, well,..the girls weren't bad either.

Even then there were fires every summer, an occasional earthquake, and of course fluctuations in the economy. I just don't recall seeing so much disaster hitting there all at the same time.

The magnitude 5.4 earthquake that hit metropolitan Los Angeles today caused no serious damage or injuries, but experts say it's a reminder that the "Big One" could happen at any time. California's history of quakes incredible to say the least.

On February 9, 1971, California experienced one of its most devastating earthquakes. Just before sunrise, the highly-populated San Fernando region was shaken by a 6.6 Richter magnitude quake that destroyed homes and businesses, badly damaged three hospitals, collapsed highways and water reservoirs, and resulted in the deaths of 65 people.

A list of the biggest quakes in recent California history, measured by magnitude:

1. 7.3, Landers, Calif., June 28, 1992, three deaths

2. 7.2, Cape Mendocino, Calif., April 25, 1992

3. 7.2, Off coast of Northern California, June 14, 2005

4. 7.1, Hector Mine, Calif., Oct. 16, 1999

5. 7.0, Honeydew, Calif., Aug. 17, 1991

6. 7.0, Cape Mendocino, Calif., Sept. 1, 1994

7. 6.9, Loma Prieta, Calif., Oct. 18, 1989, 63 deaths

8. 6.7, Northridge, Calif., Jan. 17, 1994, 60 deaths

9. 6.6, San Simeon, Calif., Dec. 22, 2003, 2 deaths

10. 6.6, Off coast of Northern California, June 16, 2005

11. 6.2, Joshua Tree, Calif., April 23, 1992

12. 6.0, Central California, Sept. 28, 2004

13. 5.6, Sierra Madre, Calif., June 28, 1991, two deaths

14. 5.6, San Francisco Bay Area, Calif., Oct. 30, 2007

15. 5.4, Chino Hills, Calif., July 29, 2008

Source: U.S. Geological Survey

Above is a map of southern California, with epicenters of historic earthquakes (as far back as 1812)

How do homeowners protect their most valuable asset?

Less than 12 percent of California homeowners have earthquake insurance, according to the Insurance Information Network of California. A deductible cost chosen by the homeowner can reach up to 25 percent of the house value to be paid in the event of any earthquake damage. The higher the deductible, the lower the cost of the earthquake insurance.

Unfortunately, even if you have insurance, in order for it to pay-off the house needs to be rendered unoccupiable by a quake. That probability is low for most homes and the value of most stuff that would be destroyed would probably be less than the deductible you pay.

So it seems Californians are simply at the mercy of the Gods of natural disaster, and right now, the Gods appear to be very, very, angry!

Avoid the Hole

2008-07-30T02:29:10Z

We speak only of real estate and mortgage in our little corner of the universe, but the ugly truth is, we're merely the epicenter of a national crises. The mortgage debacle, coupled with absurdly high gas prices, has created a financial black hole that's sucking in all money matter around it.

Did you know that U.S. business bankruptcies saw their sharpest quarterly rise in two years, jumping 17 percent in the second quarter of 2008?

Did you know that Commercial filings for the first half of 2008 are up 45 percent from last year; or that from April through June, 15,471 U.S. businesses shuttered their doors?

It was the 10th straight quarter that business bankruptcy filings have increased. Nearly 29,000 companies filed in the first half of 2008. More than 20 percent of the newly shuttered businesses were in California, which logged 3,141 bankruptcies in the second quarter.

Texas fielded the next highest number of bankruptcies with 1,168, followed by Michigan with 702 and Florida with 635. New York was next, with 618 petitions, and Colorado had 547.

Food costs went up 1.5 percent (the biggest increase since January) and even pet food jumped by 6 percent, the largest monthly increase on record, and wholesale energy prices shot up 6 percent. The price of unleaded regular gas surged 9 percent in June on top of a comparable increase in May. Home heating oil, natural gas and liquefied petroleum gas also took big jumps.

If you glance back at history you'll see that an average of more than 500,000 businesses failed in the United States during each of the 10 recessions that have occurred since the end of World War II, and there's little doubt at this point that we face a full blown recession.

SMALL CHANGE'S CAN KEEP US OUT OF THE HOLE

Be Aware of how much money you spend

Many shopaholics live in denial about how much they spend. If you realize how much you spend on various items, this may help reduce your spending. With disposable income slipping, spending frugally is important. Discount stores such as Marshalls and other surplus outlets and have seen increased business as people look for bargains.

Don't spend money to kill time

Don't spend every lunch break wandering around your favorite shops, go to a park or place where there is little temptation to pull that wallet out. If you do go shopping have a clear objective of what you need to buy. This means that you will buy things because you need them, rather than want them.

Avoid Spending by Habit

Quite often a lot of our spending is a daily habit. For example, if you hit Starbucks everyday, why not invest in a coffee machine? Just because you spend $10 a day on lunch doesn't mean this habit has to continue forever. Try taking your own lunch.

Give Items Objective ratings

Guy's, do you really need another $100 silk tie, or that new boat? Ladies, Is that $2,000 Louis Vuitton purse really necessary (you're just as beautiful without it)? I know that Burberry coat is lovely, but your paying a bundle for that snappy plaid collar and cuffs.

Instead of trading that luxury ride in, why not pay it off and live car payment free for a couple of years? We all tend to have a desire to live a bit larger than we can afford, its human nature, but now is not the time.

Even if you seem to be rolling in cash today, you don't know what tomorrow will bring. Even Starbucks is closing stores down for the first time.

Remember money isn't everything

Don't feel that financial well being is the only thing that matters. Even in difficult times, don't lose perspective and allow yourself to be depressed. With the right attitude a frugal lifestyle can have its own pleasures. I'll bet there's a park you drive by all the time and have never been to, or a hiking trail you pretend not to see.

Take the time, save the money, and avoid the hole.

Extreme Makeover or Extremely Stupid?

2008-07-28T23:33:09Z

It seems at times that no matter how much society does to help those in need, there will always be the few that don't possess the solid decision making capabilities to survive.

Sounds harsh, but after learning of the "Extreme Makeover" home that has had all of the "gifted" equity sucked out of it and allowed to fall into foreclosure, it is the only conclusion I can reach.

In January 2005 Atlanta-based Beazer Homes USA and ABC's "Extreme Makeover" demolished the Harper family home and its faulty septic system. Six days later, crews and volunteers, totaling over 1800 people, completed work on the largest home that the television program had ever built.

Replacing their old dilapidated home is a four-bedroom house with rock walls and a three-car garage that towers over homes in their neighborhood. The front door opens into a lobby that features four fireplaces, a solarium, a music room and a plush office. A total of $450,000 in materials and labor were donated for the home.

Beazer Homes' employees and company partners raised an additional $250,000 in contributions for the family, along with scholarships for the couple's three children and a home maintenance fund.

After the show, the Harper family used the two-story home as collateral for a $450,000 "construction business-loan", which they have since defaulted on and the majestic home is now set to hit the auction block on the steps of the Clayton County Courthouse Aug. 5.

Perhaps yet another kind soul will buy it and hand it to them for free, yet again.

The Fall of Humpty Dumpty

2008-07-21T04:39:17Z

We all know the tale of poor ol' Humpty Dumpty, after all, he had that great fall. Then of course, all the Kings horses, and all the Kings men, couldn't put poor Humpty back together again. With banks total announced losses to date of $400 billion, and bank write-down's just getting started, it would appear Humpty Dumpty's fall may indeed be fatal.

According to a study by Bridgewater Associates, bank losses could reach a staggering $1,600 billion (that's $1.6 trillion). How are these mind boggling losses being spread across the board?

Well, here are a few tidbits of information I managed to dredge up for you.

Citigroup posted a $US2.5 billion ($2.57 billion) loss, which, while large, was better than analysts had expected. That news capped a week that began with investors rattled by the federal seizure of IndyMac Bank and by the woes of mortgage giants Fannie Mae and Freddie Mac. The FDIC estimated that its takeover of IndyMac would cost between $4 billion and $8 billion.

Wells Fargo took a provision for credit losses of $3 billion in the second quarter, which included total charge offs of $1.5 billion, and an increase in reserves for future losses of $1.5 billion.

Washington Mutual, the nation's largest savings and loan, said Tuesday that it lost $1.14 billion in the first quarter. The Seattle-based thrift lost $1.40 per share, compared with a profit of $784 million, or 86 cents per share, in the first quarter a year earlier.

Freddie Mac owed $5.2 billion more than its assets were worth in the first quarter, making it insolvent under fair value accounting rules. The fair value of Fannie Mae's assets tumbled 66 percent to $12.2 billion and may be negative next quarter.

In late April, Countrywide reported a first-quarter net loss of $893 million (while their CEO took a $48 million salary) or $1.60 per diluted share. In the same period last year, it posted a profit of $434 million, or 72 cents per diluted share.

Sovereign Bancorp of Philadelphia said it would take a $1.6 billion write-off for the fourth quarter, much of it related to mortgage lending. However, $600 million of the loss was due to defaults on consumer loans, an indication that the financial crisis is spreading. Sovereign said it had stopped issuing auto loans in seven of the 15 states in which it does business-Nevada, Utah, Arizona, Florida, Georgia and North and South Carolina.

National City's stock tumbling 28 percent to its lowest level in about 17 years after the bank also posted a $171 million first-quarter loss and slashed its dividend.

Wachovia said it expects to report an after-tax loss of between $2.6 and $2.8 billion, or $1.23 to $1.33 per share, for the second quarter. The bank holds a substantial $170 billion residential mortgage portfolio; a whopping $121 billion of that total was in the form of option ARMs at the end of Q1.

Wachovia's option ARM portfolio saw non-performing assets jump by $1.6 billion in just one quarter to $4.6 billion at the end of Q1, almost 4 percent of loans; analysts expect that number could be as high as $7.5 billion when the company reports its Q2 results.

Losses from securities linked to subprime mortgages may exceed $265 billion as regional U.S. banks, credit unions and overseas financial institutions write down the value of their holdings, according to Standard & Poor's. Citi Bank and Bank of America has together lost $296-billion in market capitalization over the last year.

These are lenders we're all familiar with, and there are too many more to post. One thing is quite clear, the situation is bad, and getting worse. The question remains, can we put Humpty back together, or will we be walking on eggshells for years to come?

PayPal Users Beware

2008-07-19T09:12:50Z

The newest scam people are getting is the "update your paypal account" email. It's fairly realistic looking and I have no doubt its worked on a few folks. I know my super-smart colleagues would never fall for this, but I'll put it out there just the same.

----- Original Message ----
From: "service@paypal.com" <service@verio.com>
Sent: Thursday, June 26, 2008 10:49:47 AM
Subject: Notification of Limited Account Access

Dear PayPal Member,

As part of our efforts to provide a safe and secure environment for the online community, we regularly screen account activity. While reviewing your PayPal accounts, we observed activity that we would like to further verify.

For this reason, limitations have been placed on your account until your will review your registered intormation. In order to resolve the account limitations, complete our online form by clicking on the following link:

Log into your PayPal account

After we have gathered the necessary information, your account will be reviewed for reinstatement and you will be notified by e-mail of our decision.

We thank you for your prompt attention to this matter and apologize for any inconvenience.

Sincerely,
Account Review Department

Then you will then see this page (above link is now dead)

Then once you click on the link on that page, you go here:

The page will accept any fake password combo you enter, since its really just collected info. You will then go to yet another page that will ask you for your personal info such as birthday, social security number, bank account number, mothers maiden name, and even your ATM card number with PIN number!

You may also receive similar emails and bogus log in pages for all major banks.

Snohomish County WA. Home Sales Statistics for June 2008

2008-07-19T03:12:37Z

Residential sales volume for June 2008

decreased 3% from May 2008 all Sales 2007 (vs. Year-to-date 2007)

Residential sales volume: off 57% to $1.3 billion

Residential transactions: off 54% with 3,680

Mobile home sales on land: off 65% to $22 million

Plexes (2-5 units) sales: off 61% to $21 million

Land sales: off 75% to $98 million

Commercial volume: off 61% to $266 million

Average residence: $362,286, off 7%

Existing home transactions sold unchanged in June 2008 vs. May 2008

Existing Home Sales

Units sold off 54%; volume: off 57% to $759 million

2,009 units sold this year vs. 4,330

Average price off 8% to $377,552

Half homes (median) sold for more than $334,950, off 5%

Average $/SF for homes sold: $216.93 (all sales), off 10%

Best range: $300,001 - $350,000, with 69 monthly

Second best absorption rate: $350,001 - $400,000 with 48.8 per month

8 acreage parcels sold monthly, off 56% from last year; average price, $181,290, off 14%

Acreage Sales

33.2 per month of existing homes sold, off 53%; average price: $522,690, off 20%

Median price for existing homes: $450,000, off 10%

6.2 new single family homes sold monthly, off 51%

The new home average price: $451,277, off 23%

Median price for new homes: $459,950, off 20%

The $/SF for existing homes: $251.64, off 24%

The $/SF for new homes: $382.82, up 32% (10% of sales with data)

Average lot sizes, for existing homes: 4.3 acres, up 18%; for new: 3.1 acres, up 9%June residential recorded transactions were 61% fewer than last June.

New single family homes units sold in June 2008 off 11% from May 2008

New Single Family Homes

Average sale price: $438,932, off 15%

Median sale price: $409,950, off 12%

New homes represent 27% of volume and 24% of units recorded

639 sold vs. 1,205 last year, off 47%; volume: off 55% to $280 million

Average $/SF: $247.58, off 1% (6% with data)

Best range: $300,001 - $350,000 with 17.5 monthly

Second best range: $350,001 - $400,000 with 16.3 per month

Best range: $100,001 - $150,000 with absorption of 5.5 per month, off 57%

Subdivisions

The average lot sold for $163,969, off 16%

Half (median) the lots sold for more than $130,000, off 32%

17.8 sold monthly vs. 77.2 monthly last year, off 77%

The average lot represents 37.4% of the average new home price

The median priced lot represents 31.7% median priced home

Attached unit sales off 21% in June 2008 from May 2008

Attached (vs. Year to date 2007) includes condominiums and townhomes

Average sale price: $280,244, off 1%

Median sale price: $252,000, off 5%

42% (380 units) new

905 sold vs. 2,029 last year, off 55%; volume: off 56% to $254 million

Average existing $/SF, $214.24, off 2%; for new: $208.97, off 4% (4% with data)

Best range existing: $225,001 - $250,000 with 16.5 monthly

Best range new: $300,001 - $350,000 with 12.5 per month

Projection

Relative inventory increased to 15.5 months, still a buyers' market. Prices will soften. 2008 will be a challenging year for residential real estate. The meltdown of both FNMA and FHLMC is a terrible blow to the housing market. No matter what solution is created, borrowers will pay more for mortgage money.

Pierce County Wa. Home Sales Statistics for June 2008 (Vs. Year-to-date 2007)

2008-07-19T02:49:05Z

Residential sales volume for June 2008 is up 5% from May 2008

All Sales

Residential sales volume: off 44% to $1.4 billion

Residential transactions: off 41% with 4,704

Mobile home sales on land: off 63% to $38 million

Plexes (2-5 units) sales: off 54% to $33 million

Land sales: decreased 66% to $85 million

Commercial volume: off 52% to $263 million

Average residence: $296,970 off 4%

Existing home transactions sold off 4% in June 2008 from May 2008

Existing Home Sales

Units sold: off 40%; volume: off 43% to $914 million

3,029 units sold this year vs. 5,116

Average price off 4% to $301,700

Half homes (median) sold for more than $263,000 off 3%

Average $/SF for homes sold at $164.76 (all sales), off 8%

Best range: $225,001 - $250,000, with 74.3 recorded monthly

Second best range: $250,001 - $275,000, with 63.2 per month

8.5 acreage parcels sold monthly, off 65%; average price: $147,222 off 3%

Acreage Sales

44.2 per month of existing homes sold, off 39%; average price: $452,164, off 8%

Median price for existing homes: $370,000, off 5%

7.2 new homes sold monthly, off 23%; average price of $378,721, off 25%

Median price for new homes: $327,000, off 17%

The $/SF for existing homes: $197.82, off 12%

For $/SF for new homes on acreage: $158.82, off 13% (70% of sales with data)

Average lot sizes, for existing homes: 3.3 acres, off 5%; for new: 3 acres, off 7%

New single family homes units sold in June 2008 are up 25% from May 2008

New Single Family Homes

Average sale price: $346,127, off 9%

Median sale price: $315,000, off 5%

New homes represent 24% of volume and 22% of units recorded

840 sold vs. 1,091 last year, off 23%

Volume: off 30% to $291 million

Average $/SF: $148.93, off 7% from last year's average (58% of sales with data)

Best range: $300,001 - $350,000, with 30.7 per month

Second best range: $275,001 - $300,000, with 20.7 monthly

Best lot range: $75,000 - $100,000 with 12.2 sold per month, off 58%

Subdivisions

The average lot sold for $106,467, off 15%

Half the lots sold for more than $98,684, off 10% (median)

29.8 sold monthly vs. 99.2 last year, off 70%

The average lot represents 30.8% of the average new home price; 31.3% for median

Attached unit sales off 2% in June 2008 from May 2008

Attached includes town-homes, condos and commons

Average sale price: $234,694, off 10%

Median sale price: $211,000, off 11%

39% (207 units) are new

532 sold vs. 1,096 last year, down 51%; volume: off 6457% to $125 million

Average $/SF: $190.62, off 1% for existing units; new: $193.03, up 22% (40% w/data)

Range with best sales, existing: $250,000 - $300,000 with 6.7 per month

Best range new: $190,001 - $200,000 with 5 monthly

Projection

Relative inventory decreased to 9.8 months, still a buyers' market. Prices will be soft. The meltdown of both FNMA and FHLMC is a terrible blow to the housing market. No matter what solution is created, borrowers will pay more for mortgage money.

Kitsap County WA. Home Sales Statistics for June 2008 (year to date)

2008-07-19T01:33:06Z

Residential sales volume for June 2008 increased 16% from May 2008

Year-to-date 2008 (vs. Year-to-date 2007)

Residential sales volume: off 40% to $477 million

Residential transactions: off 35% to 1,471

Mobile home sales on land: off 43% to $18 million

Plexes (2-5 units) sales: off 69% to $5 million

Land sales: off 54% to $43 million

Commercial volume: off 57% to $61 million

Average residence: $324,358, off 8%

Existing home transactions sold up 20% in June 2008 from May 2008

Volume sold: $335 million, off 41%

996 units sold, off 37%; Half (median) sold for more than $264,810, off 6%

The average price on Bainbridge Island: $777,488, off 3%; avg $/SF: $327, off 3%The Existing

Homes information below has Bainbridge Island data removed

Average price: $295,036, off 3%

Average $/SF for homes sold at $180.43 (all sales), off 8%

Best range: $225,001 - $250,000, with 26.3 per month

Second best range: $250,001 - $275,000, with 16.5 monthly

7.3 lots acreage sold monthly, off 63%; average: $185,724 up 2%, incl 2 on BI @ avg $350,000

33.8 per month of existing homes sold, off 25%; average price: $481,226 off 2%

Median price for existing homes: $425,000, up 8%

4.7 new single family homes sold monthly, off 34%; average price: $416,217, off 19%

Median price for new homes: $404,500 off 6%

$/SF for existing homes: $234.11, off 5%; new: $183.48, off 4%

Average lot sizes, existing homes: 2.5 acres, off 4%; for new: 2.9 acres, up 13%

New single family homes units

Bainbridge average sale price: $1,019,706, up 3% (3 recorded sales)

Kitsap without Bainbridge average sale price: $323,818, off 13%

New homes represent 21% of volume and 22% of units recorded

Volume: $92 million, off 6%; 277 sold this year, up 16%; (40% sold by Quadrant)

New Single Family Homes information below has Bainbridge Island data removed

Average $/SF: $167.54, off 6% (32% of sales with data)

Best ranges: $300,001 - $350,000 with 10.5 monthly

Next best range: $275,001 - $300,000 with 7.2 per month

The average lot sold for $119,362, off 2%; Bainbridge Island: 2 at average: $374,953

26.3 sold monthly, off 27% from the 35.8 that sold per month last year

Best range: $100,001 - $150,000 with absorption of 19.7 per month, up 75%

The average lot represents 36% of average new home

The median priced lot represents 37.9% of the median new home price

Attached unit sales off 63% in June 2008 from May 2008

Below - includes condominiums and town-homes

Average sale price: $303,874, off 12%; w/o BI: average $216,785, off 1%

Median sale price: $227,500, off 14%

90 sold, off 60%; 31% new (28 units); BI: 30 units at avg $478,051, up 2% (5 new)

Volume: $27 million, off 65%; $14 million on BI, off 73%

Average $/SF existing: $216.64, up 6%; new: $288.15, off 13% (No new solds in June)

Best ranges new: $200 - $210,000; $230 - $240,000 and $500,000+, each with 0.7 monthly

Best ranges existing: $300,001 - $400,000 with 1.7 per month

Projection

Relative inventory decreased to 10.4 months, still a buyers' market. Prices will soften. No matter who wins in November, any changes will take at least eighteen months to impact the economy. The world is so interconnected; our downturn will be felt globally.

King County WA. Sales Statistics for June 2008 (year to date)

2008-07-19T00:59:37Z

Residential sales volume for June 2008 decreased 6% from May 2008

All Sales

Residential sales volume: off 42% to $6 billion

Residential transactions: off 42% to 12,006

Mobile home sales on land: off 52% to $19 million

Plexes (2-5 units) sales: off 55% to $106 million

Land sales: off 67% to $172 million

Commercial volume: off 72% to $1.5 billion

Average residence: $499,439, up 1%

Existing home transactions sold decreased 4% in June 2008 from May 2008

Existing Home Sales

Units sold: off 40%; volume: off 41% to $3.6 billion

6,582 units sold this year vs. 10,989

Average price off 1% to $547,332

Half homes (median) sold for less than $435,000, off 2%

Average $/SF for homes sold at $283.65 (all sales), off 4%

Best range: $300,001 - $350,000, with 141.7 monthly

Second best absorption rate: $500,001 - $600,000, with 136.7 per month

13.3 acreage parcels sold monthly, off 61%; average price: $224,898 off 30% from last year

Acreage Sales

55.7 per month existing homes sold, off 42%, average price: $739,549, off 10%

Median price for existing homes: $590,000, off 6%

5 new homes sold monthly, off 48%, average price: $1,046,548, up 7%

Median price for new homes: $810,000, up 28%

The $/SF for existing homes: $298.99, off 15%; new: $247.31, off 19% (60% w/data)

Average lot sizes, for existing homes: 3.9 acres, up 18%; new: 3.5 acres, off 42%

The average price per acre for acreage lot sales: $90,457, off 19%

New single family homes units sold

Average sale price: $661,961, off 3%

Median sale price: $530,000, off 5%

New homes represent 19% of volume and 16% of units recorded

1,281 sold vs. 1,929 last year, off 34% volume: off 36% to $848 million

Average $/SF: $250.29, off 4% (49% of sales with data)

Best range: $750,001 - $1,000,000 with 32 per month

Next best range: $600,000 - $750,000, with absorption of 31.8 monthly

Best lot range: $200,001 - $300,000, with absorption of 13 per month, off 20%

Subdivisions

The average lot sold for $228,161, off 15%

Half the lots sold for more than $216,780 (median), up 9%

34.5 sold per month vs. 84 last year, off 59%

Average lot represents 34.5% of the average priced new home

The median is 40.9% of the median priced new home

Attached unit sales off 21% in June 2008 from May 2008

Attached (vs. Year- to date 2007) includes condos, commons and town/row homes

Average sale price: $369,282, up 3%

Median sale price: $322,500, up 2%

35% (1,369 units) of sales are new

3,887 sold vs. 7,245 last year, off 46%; volume: off 45% to $1.4 billion

Average existing $/SF: up 5% to $327.36; new: $321.52, off 3%, (56% w/data)

Range with best sales, existing: $300,001 - $350,000, with 59 per month

Range with best sales, new: $300,001 - $350,000, with 38.5 monthly

Projection

Relative inventory is increased to 8.7 months, still a buyers' market. Prices will fall. The meltdown of both FNMA and FHLMC is a terrible blow to the housing market. No matter what solution is created, borrowers will pay more for mortgage money.

The ReScam - A New Twist on the 419 Nigerian Con Game!

2008-07-18T07:46:20Z

Over the last two years I've become a bit of an expert on the Nigerian 419 Scam as a hobby. The 419 covers everything from rental, lottery, inheritance, to employment scams; all done via emails.

Many originate on craigslist.com and occur when you place a rental or sales ad there; others just find their way to your email box. Often your receive lovely pictures (like the one to the left) from Barrister's, Bishops, and even an occasional Princess.

I've written on the subject in the past and have had more people contact me regarding the post than I can recount. The latest version of the 419 is fairly clever (if you can overlook the spelling) and has been successful on quite a few people that previously fell victim to one of the aforementioned versions.

I know from the emails I've received, and the news, people are buying into these scams, Thus I feel the need to warn them about what I can only call "The Re-Scam".

Heres how it goes:

From: BISHOP JOHNSON <earlspencer_00@yahoo.com>
Sent: Monday, July 14, 2008 8:51:48 PM
Subject: ZENITH BANK/UNITED NATIONS,SCAM VICTIMS

   ZENITH BANK/UNITED NATIONS,SCAM VICTIMS
    COMPENSATIONS PAYMENTS.DIRECTOR,
    SCAMMED VICTIM/$100,000 BENEFICIARIES.
    REF/PAYMENTS CODE:06654 $100,000 USD.
    ATTENTION BENEFICIARY:

          ZENITH BANK/UNITED NATIONS SCAM VICTIMS COMPENSATIONS PAYMENTS.

    This is to bring to your notice that I am delegated from the United Nations to Central Bank to pay 48 scam victims $100,000 USD (One Hundred Thounsand Dollars) each. You are listed and approved for this payment as one of the scammed victims to be paid this amount, get back to us as soon as possible for the immediate payments of your $100,000 USD compensations funds.

    On this faithful recommendations, know that during the last U.N. meetings held at Abuja the Capital of this Country Nigeria, it was alarmed so much by the world in the meetings on the lose of funds by various individuals to the Nigerian scams artists operating in syndicates all over the world today.

    In other to compensate victims, the U.N Body in conjunction with the Nigerian Government is now paying 48 victims of this operators $100,000 USD each in accordance with the U.N. recommendations. Due to the corrupt and inefficient Banking Systems in Nigeria, the payments are to be supervised by the United Nations' Officials and the Central Bank Nigeria as the corresponding paying bank is ZENITH BANK PLC.

    According to the number of applicants at hand, 21 Beneficiaries has been paid, half of the victims are from the United States, we still have more 27 left to be paid the compensations of $100,000 USD each. Your particulars was mentioned by one of the Syndicates who claimed to be the ATM Director CBN who was arrested as one of their victims of the operations, you are hereby warned not to communicate or duplicate this message to him for any reason what so ever as the U.S. secret service is already on trace of the other criminals. So keep it secret till they are all apprehended. Other victims who have not been contacted can submit their application as well for security and possible consideration.

    The Economic and Financial Crimes Commission (EFCC) (Motto: No Body is Above the Law) have combined effort with the United Nation Anti-crime commission to alleviate and redeem the image and past wounds of foreigners and firms who were defrauded, scammed and abandoned by this syndicates to slight down our dignities to international communities.

    Many banks have been in bankrupcy today, Universal firms, Companies and individuals due to the activity of these hoodlums. However, investigation have shown that these people have dropped over 500,000 victims after collecting their money falsefuly, many committed suicide and others living by the grace of God.

    With the sanity presently at hand, we have over 500 convicts at hand, 300 in kirikri prisons while many are still awaiting trail while We still fetch for others who feel they are wise and hope that you will be our friend by giving us more information as per clue in apprehending them.

You can receive your compensations payments via any of this options you Choose, DRAFT/CHEQUE PAYMENTS or WIRE TRANSFERS.I shall reply you with further modalities as soon as I hear from yoU.

SCAMMED VICTIM REF/PAYMENTS CODE:06654 $100,000 USD.
Email: bishopjohnsondate@yahoo.co.jp

Waiting to hear from you as soon as possible.

Yours faithfully,
BISHOP JHONSON
bishopjohnsondate@yahoo.co.jp
SCAMMED VICTIM/REF/PAYMENTS

CODE:06654 $100,000

-------------------

My Response: Indeed I was scammmed out of $7,000 USD by a fellow claiming he wanted to rent my home from me. What can I do to recover the money?

-------------------------------

Attention: Michael Creel

I want you to forward the conversations you had with the scammer, all the papers or the info you received from him,the info used when sending the money to him, then enclose your contact address, your telephone number, a copy of your drivers license.... we need your hunble corporations over this matter to enable us track the scammer... after verifications your payment will be made....and you advice to comply with our instructions to enable us proceed faster with your case.... Sincerely

Bishop Johnson

-----------------

My Response: Will this cost me anything up front?

-----------------------------

Dear Michael Creel

Thanks for your message, We are working towards everything here all we need is your corporations, Just do what I instructed you, send all the conversation you have with the fraudster, the documents he sent to you ... or you can aswell send the payment informtions you sent to him... I will attach this stated items to your claim files...and fax them to the Bank that will make your payment of 100,000 dollars.....but before this will be commence will need total verifications to ensure that you are telling us the truth...however you will also required to follow legal process to enable your payments..... Sincerely

BISHOP JOHNSON

-----------------------------

My Response: All I'm asking is, what is the "legal process". To put it simply, is this a free service?
---------------------------

Dear Michael Creel

Thanks for your Questions? I want you to understand that you are in the safe side... that this is 100% Free from this department... But what I mean by Legal Process means that you will have to get a lawyer from Nigeria who will sign some Papers and Deffend your Files in High Court Abuja from their your Payment info will be Fax to the PAYBANK that will credit your account with the fund of 100.000 dollars as your compesation Payment to renew this country image and reputation in world Record... we are fighting 24/7 against corruption and crime in this country...and I want you to follow every instruction giving to you to enable you get your payment.....Send your contact details and a copy of your drivers license for more perusal and means of Identifications... When I confirm the above stated info from you I will then tell you what you need to do...before the bank will contact you to inform you of your payment....

Sincerely Bishop Johson

------------------------------

My Response: I am curious bishop. do you feel even the least bit of remorse when you scam a person for the second time with this little charade of yours? Or do you simply justify it within yourself and claim the rich Americans deserve it?

-----------------------------

Michael what did you mean? please tell me what did you think?

Bishop Johnson

-----------------------------END

After that last one I did indeed tell him what I think, so I can't include it in this post (you can use your imagination). Normally I play along with these scams a bit further to see what all they want me to do. In the end, it's always the same, wire money to cover legal fee's.

So, anyone that has been burned by one of these people, believe me when I say your money is gone, and no one is going to contact you to give if back.

Trust me on that one!

The Walkers

2008-07-17T00:20:20Z

In 1994 I was visiting friends in Orange County California and they were experiencing some real estate woes of their own. At the time Orange County was heading into bankruptcy, the real estate values were plunging much as they are now. Peoples position at the time was similar to that of so many I see today "If the property's not worth what I owe, why should I make the payments".

Two years prior to my visit, my friends were doing well for themselves financially. They owned a beautiful new home they had spent 800k building, and had purchased an enormous commercial building for 2 million for their furniture store (putting 50% cash down).

Now that the market had taken a dive, the commercial property was worth about 800k, which was more than they owed (his million dollar down payment was gone) and their home was also worth far less than they owed. Their strategy was exactly the same as so many are employing today, dump it on the bank. They rationalized that they could lease nicer properties for far less money, and after all, why pay for something that's worth less than what's owed?

They followed through on their idea and walked away from both properties, taking the loss and the hit to their credit. They indeed were able to lease a home and commercial building for thousands less than they were currently putting out in loan payments. In the little picture, they made money with their decision.

I haven't stayed in contact with those old friends from California since moving to the Northwest, but I couldn't help but wonder how they felt 10 years later when California's property values soared to insane heights, and those properties they dumped on the lender were worth millions. I was too polite to call and ask.

Now here we are again; prices dropping, and people walking. Obviously many homeowners simply don't have the funds to continue making the payments, so they have no choice but default. However, rest assured, there are undoubtedly those that can make the payments and will simply walk away because it seems like a sensible thing to do at the moment.

There will be a time in the not-so-distant future when prices soar again, and the people that will reap the rewards will be the farsighted investors grabbing up all the properties owners decided were worthless. If you think people are mad now, wait until the day they see the house they walked away from sell for 3 times the amount of debt they owed.

Someone will make a killing, but it won't be the walkers.

Was The Writing on The Wall?

2008-07-14T00:04:25Z

At times it seems we simply don't listen to the very people we pay to warn us. I recently ran across this article detailing an FBI report that essentially told us exactly what the future held for the mortgage industry, yet no one did much to prevent it. What could have been done? Did the governement fail us, or did we fail ourselves? Excerpts from the story are below:

FBI warns of mortgage fraud "epidemic" Seeks to head off "next S&L crisis"

CNN Washington Bureau Friday, September 17, 2004

WASHINGTON (CNN) -- Rampant fraud in the mortgage industry has increased so sharply that the FBI warned Friday of an "epidemic" of financial crimes which, if not curtailed, could become "the next S&L crisis."

Assistant FBI Director Chris Swecker said the booming mortgage market, fueled by low interest rates and soaring home values, has attracted unscrupulous professionals and criminal groups whose fraudulent activities could cause multibillion-dollar losses to financial institutions.

"It has the potential to be an epidemic," said Swecker, who heads the Criminal Division at FBI headquarters in Washington. "We think we can prevent a problem that could have as much impact as the S&L crisis," he said.

In one operation, six individuals were arrested Thursday in Charlotte, charged with bank fraud for their roles in a multimillion-dollar mortgage fraud, officials said. The two-year investigation found fraudulent loans that exposed financial institutions and mortgage companies to $130 million in potential losses, they said.

The number of open FBI mortgage fraud investigations has increased more than five-fold in the past three years, from 102 probes in 2001 to 533 as of June 30 this year, the FBI said. The potential losses are staggering, and many financial institutions are cooperating with investigators.

Officials noted mortgage industry sources have reported more than 12,000 cases of suspicious activity in the past nine months, three times the number reported in all of 2001.

States identified as the top 10 "hot spots" for mortgage fraud are Georgia, South Carolina, Florida, Michigan, Illinois, Missouri, California, Nevada, Utah and Colorado. END

--------

I recall being told by a highschool teacher that we study history because history repeats itself, and in doing so, we may prevent repeating previous mistakes. In theory, that sounds great, but is that what we actually do? Do we learn from our mistakes, or does money blind us as a society?

The Homeowner Warranty - is it warranted?

2008-07-11T03:13:29Z

For years buyers have been told to have a home inspected and obtain a Homeowner Warranty Policy ("HOW"). That way the buyer would know the current condition of the property, and if certain things failed, there was a policy to cover them.

Some realtors use the homeowner warranty to help make the sale (by offering the warranty as part of the listing and sale package), and give the prospective buyers greater confidence that they aren't assuming any big risk with their purchase, much like having an extended warranty on a car.

What is a Home Warranty: It's not an insurance policy and it's not actually even a warranty on the home. Instead, it's a service contract sold for certain systems within the home such as the heating and plumbing, and also sometimes appliances such as refrigerators and washing machines.

It's not a warranty on a home, in the sense that it doesn't cover the walls, floors, roof or foundation. And it's not like an extension of the product warranty the buyer of a new home receives from the builder, which most definitely would cover those items. In some states, it can't even be called a warranty. For instance, in Oklahoma it may be called "home service agreements" while in Virginia it's "home protection insurance."

Sometimes the coverage extends to the pump and motors installed on pools and spas or to an automatic garage door opener, but in most instances it extends just to what's located within the main foundation of the home. The pipes and wires that deliver water, energy, and telecom services are not covered outside the home, nor is the damage caused by broken pipes, blackouts, or power surges. Those are perils typically covered by a straight insurance policy; the difference between a home warranty and a homeowner's insurance policy comes down to a question of coverage. A home warranty doesn't cover damage due to fire or flood, for instance, and it doesn't cover the roof, walls, floors or foundation.

This is also a difference from the builder's warranty typically issued by a construction company to the buyer of a new home, which would typically cover items such as leaky basements, drafty windows, or warped walls. It's also different from a straight maintenance contract, which typically would be sold to cover routine and scheduled tasks such as the annual cleaning of an oil burner. A home warranty covers only failures due to normal wear and tear.

Inevitably, there will be overlaps in coverage between insurance and warranty, or between warranties. In cases where an appliance is covered by either a manufacturer's product warranty or a retailer's extended warranty. Most HOW's let those take precedence, But some warranties cover only parts after a period of time and not the labor, then the HOW would pick up the labor. Transferable warranties on appliances are less common, but in these situations there also might be an overlap with a home warranty.

If you desire a home warranty, investigate the viability of the issuing company before relying on its warranty. The company should be able to provide you with information regarding its ability to pay claims. Some companies are independent companies dealing in the secondary home market, while others are an extension or affiliate of the builder. There is no guarantee by the government or the REALTOR® assisting you that these companies will be there when you need them. Home warranties cover a limited list of items. Make sure that you understand the extent of the "guarantee" or "warranty" before you sign.There is no shortage of consumer complaints against companies offering such warranties, so it is as usual a "buyer beware" situation.

Why Refinance, When You Can Reset?

2008-07-09T09:39:37Z

So that ARM's run it's course, and it's time to pay the Piper! That's the issue thousands of Americans face daily; to many, its a quagmire that leads to financial ruin and foreclosure. To others, refinancing is the solution they seek. Some will be qualified, and many will not.

Is refinancing your home the answer to your troubles?Often, it's not. Refinancing comes with a slurry of issues,... some old, some new. That burdensome old credit score seems to jump off the page these days like snake eyes at the craps table. Then of course there's those dreaded "points" your friendly mortgage Broker or Banker will charge you on the front and back-end of your loan (after all, they have to earn a living just like you).

Expenses Associated With Refinancing

Discount points fee: This fee represents additional money you can pay to the lender at closing. If you pay more points it will lower the interest rate. Usually, for each point you pay for a 30-year loan, your interest rate is reduced by about 1/8th (or .125) of a percentage point.

Origination Fee: Fee charged by the lender/broker for evaluating, preparing, and submitting a proposed mortgage loan. Origination fees are often expressed as a percentage. A one percent loan origination fee is equal to 1% of the loan amount. Some lenders add origination points into their quoted points while other lenders add an origination point in addition to their quoted points. Origination Points are equal to a percent of the loan amount. 1.75 points is equal to 1.75% of the loan amount. Often the loan agent writing the loan will make 1 to 3 points (%) on your loan.

Application Fee: covers the lender's cost to process the information on your loan. Usually, you must pay this charge at the time you file the application. Some lenders may apply the cost of the application fee to certain closing costs. Generally lenders do not refund this application fee if you are not approved for the loan or if you decide not to take it.

Appraisal Fee: This fee ($150 to $400 depending on the size/price of the property) pays for an independent appraisal of the home you want to purchase. The lender requires this estimate of the market value of the house for the loan. Factors to be considered in determining market value are: present cash value; use; location; replacement value of improvements; condition; income from property; net proceeds if the property is sold, etc. The appraisal is a critical factor in determining how much of a mortgage the bank or mortgage company will approve.

Credit Report Fee: Three major national credit bureaus (Equifax, TransUnion and Experian) supply lenders with the information on your credit behavior. Consumers typically pay $45 to $55 for this report.

Title Search Fee: A title search is a detailed examination of the historical records concerning a property. These records include deeds, court records, property and name indexes, and many other documents. The purpose of the search is to make sure there are no liens, overdue special assessments, or other claims or outstanding restrictive covenants filed in the record, which would adversely affect the marketability or value of title.

So how do you maneuver around these barriers?

LOAN RESETTING

What many don't realize, that if they actually pick up a phone and call their lender, they can reset their existing loan and avoid thousands in closing cost associated with a loan broker or banker; and most often, the credit score isn't even pulled. Banks have a "Loan Retention" department that handle's this for existing loans, and the only real requirement is that you be current on your payments.

Now you may not get to enjoy those dirt cheap rates you keep reading about in the paper (not many do), but in most cases you can drop a rate that's creeped up to 8.9% down to around 6%, and believe me, that's a real savings. Best of all, it can be accomplished in a matter of days, handled over the phone, with a general fee of about five hundred dollars.

So even if your not on the brink of financial ruin, but your rates higher than you like, and you can't stomach the idea of paying thousands in closing fee's on a new loan (lowering your rate, but raising your debt) try picking-up that phone and speaking to your lender about resetting your current loan.

Come'on you can do it, don't be shy, no need to refi.

Breaking the Rules, Can Break Your Bank.

2008-06-26T06:23:20Z

It never ceases to amaze me when I read of the shenanigans our fellow agents pull, then get fined for. This month's batch has some real winners in it (no names mentioned of course).

1. Rules Violated: NWMLS Rule 2 (Required Turn-in), Rule 11(b)(ii) (Restrictions on Showing and Sale), Rule 25 (Cooperation in Showing and Submitting Offers and Disclosing Information to Other Members), and Rule 20 (Notice of Sale)
Summary of Complaint: Agent took a listing and failed to deliver it to NWMLS for input or input it by 5:00 p.m. the next day, failed to timely present a buyer's offer to seller, and failed to report status change in a timely manner. Agent listed own telephone number in the owner's phone field.
Penalty: $5,000. Agent altered listing information on many listings before they expired.

2. Rules Violated: NWMLS Rule 1 (Listing Input) and Rule 10 (Incomplete, Inaccurate, and/or Inappropriate Exclusives)
Summary of Complaint: Agent altered listing information on many listings before they expired.
Penalty: $5,000 fine with $2,000 suspended on the condition that the member not be found guilty of any further Rules violations within 12 months. Agent must take Rules and Regulations class within 1 year.

3. Rules Violated: NWMLS Rule 2 (Required Turn-in), Rule 22 (Duplicate Listings), and Rule 122 (Notification Sale Closed)
Summary of Complaint: Agent input duplicate listing without submitting it to NWMLS for input and payment of fee, and failed to report notice of sale in a timely manner.
Penalty: $3,000 fine with $1,500 suspended on the condition that the member not be found guilty of any further Rules violations within 12 months.

4. Rules Violated: NWMLS Rule 17 (Solicitation of Listings)
Summary of Complaint: Agent solicited another member's active listing.
Penalty: $5,000 fine.

5. Rules Violated: NWMLS Rule 17 (Solicitation of Listings) and Rule 62 (Limited Forms Usage)
Summary of Complaint: Agent solicited another member's active listing, including preparing a Form 19 to cancel the listing.
Penalty: $1,000 fine.

6. Rules Violated: NWMLS Rule 1 (Listing Input), Rule 2 (Required Turn-In), Rule 10 (Incomplete, Inaccurate, and/or Inappropriate Exclusives), Rule 101 (Division of Commissions), and Rule 120 (Notice of Sale)
Summary of Complaint: Agent failed to disclose a Short Sale, listed inaccurate information, pressured the selling agent to lower the selling office commission, and failed to report status change in a timely manner.
Penalty: $500 fine with $250 suspended on the condition that the member not be found guilty of any further Rules violations within 12 months.

7. Rules Violated: NWMLS Subscription Agreement (Sections 1, 12, and 13)
Summary of Complaint: Agent removed the key from the keybox and left it outside so the home inspector could access another member's listing.
Penalty: Subscriber fined $5,000 with $2,500 suspended on the condition that the subscriber not be found guilty of any further Rules violations within 12 months. Member and agent must take Rules and Regulations Class within 60 days

8. Rules Violated: NWMLS Rule 17(a) (Solicitation of Listings)
Summary of Complaint: Agent sent another member's listing client an email alerting them to errors in the current listing and suggesting the client change listing agents.
Penalty: $5,000 fine with $4,000 suspended on the condition that the member not be found guilty of any further Rules violations within 24 months

9. Rules Violated: NWMLS Rule 50(b) (Electronic Keys), Rule 86 (Billing Verification Report), and Subscription Agreement
Summary of Complaint: Agent used his Supra Key to access another member's listing after his real estate license had expired. Office failed to notify NWMLS that agent's license had expired.
Penalty: $2,500 fine with $2,000 suspended on the condition that the member not be found guilty of any further Rules violations within 24 months.

Choose Your Renter Wisely

2008-06-24T08:16:48Z

Since writing a post on Scams Operating on craigslist.com last year, I've received dozens of emails and phone calls thanking me for the post and asking many questions.

The most interesting call I received was from a homeowner in Florida that called after being approached by a man expressing interest in a home she had for rent. She knew something smelled fishy and felt it to be a scam, but couldn't quite figure out what was up since it didn't involve cashiers checks or Western Union as the standard scam does.

After speaking with her at length and helping her reach a conclusion, it was apparent to me it was worthy of a post. These challenging times are making many property owners anxious to find renters to cover those mortgages, and often many are inclined to bend common sense rules and take big chances when it comes to renting their home out.

The homeowner described the following: She was offered cash for the rental by a fellow claiming to be rather wealthy, he said he was getting a divorce and wanted the rental to be a secret. He wanted a lease, but would offer no identification whatsoever (refused). He wanted to pay several months in cash, which he had a lot of, yet he drove an old beat-up car. He said he owned many luxury cars (even two Hummers), but they were all currently loaned out (but of course, he explained, she would see them at the home periodically in the future).

The owner was actually contemplating renting the home to the man due to her need for cash, she had even taken a deposit. After bouncing the info around in my thick skull, I felt it sounded like someone acting as a "front-man" to rent the home for illegal purposes. It could be a safe house for illegal aliens, or drugs, and it could be to run a drug dealing or manufacturing operation. One thing was for sure, he was up to no good.

After discussing my thoughts with her, and pointing out that anyone would be foolish to rent to a person that refuses to offer proof of identity (to say the least), she decided to return the cash deposit and not enter into the lease with him. As I told her, I know the money would be nice to have, but imagine what it will cost you if they set-up a meth lab in there. Many vacant homes are even being used without the owners knowledge for illegal purposes (People seem to believe walking away from a home ends their responsibility).

As the market becomes flooded with rental properties, many owners will feel inclined to rent to anyone with cash in hand. If you do so, you may be making a mistake so enormous that the consequences' will make your current financial issues seem trivial.

Facts About Meth Lab Clean-Up