What the Government Rescue Bill Really Says - 09/29/08 01:15 PM
Actual clause in the government rescue package:
Sec. 109. Foreclosure Mitigation Efforts CONSENT TO REASONABLE LOAN MODIFICATION REQUESTS - Upon any request arising under existing investment contracts, the Secretary shall consent, where appropriate, and considering net present value to the tax-payer, to reasonable requests for loss mitigation measures including term extensions, … (5 comments)
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The Government Bailout ... The REAL Cause - 09/29/08 09:13 AM
Being a real estate broker for over three decades, I can unequivocally state that the basic facts in this video are correct. Today, everyone is blaming Wall Street or dishonest mortgage brokers. But, one has to trace back the real cause that allowed this to occur.
Real estate search engine
optimization
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Government Bailout - It's NOT The American Way! - 09/26/08 07:06 PM
Some folks took risks on buying homes 2-3 years ago with the thought that home prices would continue to increase and they would make off with a good ROI (sometimes with no money down at all). Others took the risk of not buying and possibly seeing the prices of housing running … (1 comments)
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Washington Mutual seized … Assets Sold - 09/26/08 05:06 PM
Via Downtown San Diego real estate Jared Schwartz, Real Estate agent:
JPMorgan Chase jumps in to buy $1.9 billion in assets from the government. The bank's failure is the worst in US history and the 13th such failure this year.*To read the full post, please visit the San Diego real estate market … (0 comments)
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Mortgage Chief Could Collect $9.3 million - 09/19/08 07:03 PM
A report yesterday in The New York Times reporting on a consulting firm's analysis, found that departing Fannie Mae head Daniel Mudd stands to collect $9.3 million in severance pay, retirement benefits and deferred compensation under the terms of his employment contract, provided his dismissal is deemed to be "without cause." … (0 comments)
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Real Estate Delinquencies Rising - 09/19/08 06:58 PM
Nearly five in ten Americans (48%) are uncomfortable with the total amount of household debt they have according to a nationwide survey by LendingTree. Furthermore, the survey discovered that 54% do not have a financial plan, proving the majority of Americans have no intention or definitive strategy to manage the amount … (0 comments)
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House Price Decline Could Be Worse than Great Depression - 09/19/08 06:00 PM
In a Yahoo Finance interview with Yale professor and MacroMarkets chief economist Robert Shiller he made some grim housing forecast while promoting his book The Subprime Solution. Three points Shiller made are: *To view the full post, please visit the San Diego real estate home blog
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Millions of Homes in Foreclosure - 09/19/08 05:57 PM
Last Friday Mortgage Bankers Association (MBA) issued a report showing a record 1.2 million homes were in foreclosure during the second quarter of 2008. This was 2.8% of all outstanding loans, and double the same period last year. *to read the full post, please visit the San Diego real estate home … (0 comments)
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Greatest Real Estate Self-Marketing Promotion! - 09/15/08 03:25 PM
I'm Judi's husband and I can say that this have been my MOST COST EFFECTIVE farming promotion. If you want better search engine standings, be sure to visit her search engine optimization software site.
Via Judi Newberry:
Several years ago I sold my husband, a 30-year veteran, CRS/GRI accredited, real estate broker, an … (0 comments)
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Banking Industry Getting Worse - 09/08/08 11:16 AM
Via Downtown San Diego real estate Jared Schwartz, Real Estate agent:
The Federal Deposit Insurance Corp's chairwoman, Sheila Bair said last week hat the outlook for the ailing banking industry was bad - and getting worse. Bair said: ''We haven't seen the trough of the credit cycle yet.''
The recent take-over of … (0 comments)
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Fannie Mae and Freddie Mac Take Over - 09/06/08 02:29 AM
Via Downtown San Diego real estate Jared Schwartz, Real Estate agent:
The Wall Street Journal's Web site noted that it seems certain the Government may take over the nation's mortgage giants Fannie Mae and Freddie Mac this weekend. Fannie Mae and Freddie Mac lost a combined $3.1 billion in the second quarter. … (0 comments)
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A Bottom in Real Estate Market? - 09/05/08 01:31 PM
Via Downtown San Diego real estate Jared Schwartz, Real Estate agent:
Jim Cramer is the host of CNBC's "Mad Money" and co-founder of TheStreet.com. Cramer has also been a contributor to New York magazine, and an occasional contributor to Time magazine. The outspoken stock market analyst said last week that the bottom … (0 comments)
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Home Values Must Fall Another 14% - 09/04/08 12:49 PM
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Via Downtown San Diego real estate Jared Schwartz, Real Estate agent:
A Credit Suisse survey estimates that the S&P Case-Shiller Index of house prices in 20 major cities must fall by another 14 percent for houses to become affordable again, assuming the typical mortgage rate stays around 6.32 … (0 comments)
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Homeowners Avoid Foreclosure in the Second Quarter - 09/03/08 03:35 PM
Via Downtown San Diego real estate Jared Schwartz, Real Estate agent:
A little good news for the housing market. HOPE NOW, a private sector alliance of mortgage service reps, counselors, and investors working to prevent foreclosures, reported today that it helped a record number of homeowners avoid foreclosure in the second quarter, … (0 comments)
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CA Home Sales Up 43.4% - 09/02/08 03:21 PM
Last week the California Association of Realtors reported California home sales increased 43.4 percent in July compared to the same period a year ago, while the median price of an existing home fell 40.3 percent. "Sales improved significantly in July 2008 and remained above the 400,000 level for the third consecutive … (3 comments)
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NEW HOME SALES Up 2.4% IN JULY - But,... - 09/01/08 07:39 PM
The U.S. Census Bureau and the Dept. of Housing and Urban Development released a report last week showing sales of new, single-family, homes rose 2.4 percent in July to a seasonally adjusted annual rate of 515,000 units. Well, that was the good news, for the bad news, *To view the full … (0 comments)
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