economics: Kiyosaki: "How do I benefit from the current economy?" - 08/26/08 11:57 PM
Watch Video Robert Kiyosaki and some of his closest advisors explain our current economic situation and how to benefit from volatile times. Kiyosaki is a successful investor and the best-selling author of "Rich Dad, Poor Dad", and many other widely read financial books. He explains where real estate investing, along … (3 comments)
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economics: Herd with the smartest - 08/24/08 12:16 PM
In general economic theory, there is a theory called herding or information cascade.
It is a popular research subject among finance people, marketing people
and economists.
During our daily life, it is very costly to make lots of decisions.
Take real estate for example, people need to do lots of … (0 comments)
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economics: It is all about the banks right now! - 08/16/08 10:17 AM
Good morning friends!
Listen carefully while I tell a story of the whys and hows of our eventual recovery. There have been many folks that have been speculating about when we can expect a recovery in the real estate industry and many folks have absolutely no idea what they are talking … (8 comments)
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economics: How to Make a Budget (and Stick to It) - 08/15/08 02:23 AM
Responsible budgeting and money management are skills everyone needs to learn as is the discipline required to put these skills into action. Many people find it difficult to stick to a budget; oftentimes, this is because the budget they created is not realistic. Regardless of the economic climate, it is important … (1 comments)
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economics: Greenspan Speaks: Home market reaching bottom - 08/14/08 09:10 AM
Former Federal Reserve chairman says housing market could stabilize next year or 'beyond' - report.
NEW YORK (CNNMoney.com) -- Alan Greenspan, former chairman of the Federal Reserve, projects that housing prices could bottom out in 2009 - or maybe later - according to a news report. "Home prices in the … (2 comments)
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economics: Saint John, New Brunswick's **Newest Group**: Saint John ENERGIZERS - 08/08/08 08:39 PM
With a recent Telegraph Journal (local Saint John newspaper) article for Tuesday, August 5, 2008 and in the Business section; the article indicated that currenting the New Brunswick tourist marketing campaign was "GENERIC, LACKING and UNSUCCESSFUL."
This area is becoming the Atlantic Canada's "ENERGY HUB" and growing rapidly.
With 102,000 members … (6 comments)
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economics: How to Avoid Pain at the Pump - 08/07/08 01:00 AM
Rising gas prices along with general increases in cost of living across the board are forcing many people to tighten their budgets and cut excess spending. In order to maintain a certain standard of living, people everywhere are looking for new ways to stretch their paychecks and make ends meet. While … (10 comments)
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economics: There's nothing wrong with it! Except one thing… - 08/04/08 02:40 PM
It goes without saying that we're all facing a number of challenges in the market right now. Sellers think their homes are still worth prices paid in 2005 & 2006. Buyers think home prices will keep dropping and, thus, make them more affordable.
But one reaction to current market prices makes … (11 comments)
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economics: But Can He Buy A House In Los Angeles? - 08/02/08 08:44 AM
Remember that lovable, singing bus driver from yesterday's post?
Let's give him a back story: Let's suppose he's married, with 2 kids, a daughter age 11, and a son age 8. Let's say his wife is primarily a homemaker, but she has recently taken a part time office job to … (2 comments)
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economics: "The World Is Flat" - 08/01/08 09:23 PM
If you have not read this book yet, you would be missing a lot. Thomas Friedman did an amazing job at revealing to us the world that we live in: how flat it is , how small it is.
I was reading news today and I came across this article about the … (6 comments)
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economics: High Gas Prices Are Hurting Idahoans - 07/29/08 06:05 PM
Whether you followed Bill Sally's request to send your gas recipets to house speaker Nacy Pelosi or one of the 1200 to speak out to Congress on the pain at the pump, the hurt is real. The Idaho Statesman ran an article with quotes recieved by Sen. Mike Crapo and no doubt Idahoans are feeling the … (0 comments)
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economics: It’s a real estate meltdown … no, it’s a buyer’s market … no, it’s … - 07/29/08 02:16 PM
Here we are, end of July and the media just can't shake off the tendency to make some sort of hysterical news out of the real estate market. First they insisted that there would soon be a crash and prices would plummet. Then they admitted that prices were stabilizing but that … (1 comments)
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economics: Economic Crisis Fanny Mae and Freddie Mac Bailout - 07/28/08 12:49 PM
There are several mixed opinions about the Fanny Mae Freddie Mac Bailout. I agree that it is going to add a huge amount of additional debt to our already massive deficit but I don't think we had a choice. Our economy has been damaged so severely by the sub prime/Foreclosure crisis … (0 comments)
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economics: Foreclosures up 121%, but ECONOMIC REVISIONS suggest ecopnomic stabilization....Go Figure!!!!!!! - 07/25/08 10:09 PM
U.S. new home sales fell marginally in June but the pace was much higher than expected due to +50k of revisions over the past three months. Economists were surprised by the report and said it may be a tentative sign of stabilization.
Some Cheif Strategists suggest that it "paints a brighter … (9 comments)
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economics: Dallas and Other Recession Proof Cities - Experience Far Fewer Woes - 07/25/08 04:51 PM
Every time I turn on the news, discouragement is the main headline. Some of the hubbub starts to get you down like Starbucks closing my favorite store, people spending 6% of our income on gasoline, quarterly foreclosures up 121% since 2007, mortgage companies running away from financing our home buyers and closing … (3 comments)
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economics: A Down Market Has Its Upsides for Young People - 07/25/08 12:30 PM
Sometimes what seems like bad news can be turned into good.
All the recent talk about the faltering economy certainly seems to fall into the bad-news category. Housing prices had the biggest decline ever, the U.S. and international stock markets had some very dark days, 17,000 U.S. jobs unexpectedly "disappeared," and many experts feel that … (0 comments)
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economics: Money Is Important, But So Are Red Marbles... - 07/20/08 05:42 PM
July 20th, 2008
Generally this blog deals with issues relating to money, saving, investing and the general economy and how that relates to your personal economy. Today's blog digresses a bit from the norm but not really too far. It recounts a story I've heard several times about how … (0 comments)
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economics: Why Bremen is the Best Kept Secret in Georgia - 07/13/08 01:55 PM
Bremen GA is located in the westernmost part of the state about 50 miles west of Atlanta and very close to the Alabama line. What makes Bremen unique?
In this time of economic uncertainty, scary gasoline prices and a crazy home market Bremen stands apart as an oasis away from … (0 comments)
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economics: The Pickens Energy Plan; Looking Past the Next Election and Preparing for the Post-War Economy - 07/12/08 02:21 PM
Create Education and Training for Post-War Sustainable and Global Economies We are playing into the hands of politicians when we focus our attention on every word spoken in sound bites, by lying politicians...that sounds redundant, don't it? If we can train ourselves to think past the election, we will no longer … (0 comments)
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economics: Fannie, Freddie, the Feds Oh My!!! - 07/12/08 09:45 AM
$1.6 Trillion in Losses and Counting
One of the great privileges I have is getting to read a wide variety of economic research. While I get a lot of material direct from the source, I also have a wide network of people who read other sources and send me what they … (4 comments)
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economics: One of the most intelligent and thought provoking papers I have read in years! - 07/10/08 10:01 AM
There was a paper/speech delivered at a meeting in Switzerland that was attended by representative from most major corporations world wide. This speech is a reasonable and thoughtful presentation about the world economy and what the actual future has in store. This is not a political speech, nor is it a … (2 comments)
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economics: Listening Key in Negotiation - 06/28/08 12:04 AM
Again and again I find that the best negotiators are excellent listeners, they also ask a lot of questions.
Sometimes I say something, just to test an agent, see if they will ask a follow up question, if they were listening they WOULD ask a question I think. I do this … (0 comments)
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economics: My Economic Forecast for the dawn of Fed Rate Tightening - 06/19/08 04:40 PM
This market has been interesting in nearly every facet. The mortgage market has been tattered by depreciating housing prices, the credit crunch, reserve changes and now insurance pull backs. Many of these problems are deepening and unfortunately will continue to do so as long as the markets cease to function. … (0 comments)
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economics: In search of a VEEP to help RE agents. Who will choose the candidate to "save the day?" - 05/22/08 08:47 PM
I am still hoping that which ever candidate win's the nomination to become President will have considerable knowledge to help our Economy.
That being said, I do not think it will be any of the three candidates that are currently running for the Presidential ticket.
That being said, I hope (as a … (3 comments)
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economics: Phoenix Metro - Real Estate Reports and Economic Forecasts - 05/06/08 05:56 PM
Recently, one of my neighbors asked for my perspective on the Phoenix area real estate market. He's has a strong economics background, so I knew that he'd want more than just my perspective and experience, so I shared the following three web sites with him.
If you are into historical reports, market trend, and forecasting, I think you might really enjoy … (0 comments)
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economics: Gas Tax Holiday - What will they think of next? - 05/06/08 08:24 AM
America has become the land of short term fixes. Instant gratification. Free money! Free gas! Woo hoo! What ever happened to gold ole fashion hard work, a can do attitude and long term stability. How about accountability for your actions? Ok, now I am ranting. Back to the topic.
This is not … (7 comments)
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economics: Do you Mauldin? Thoughts from the Frontline Weekly Newsletter - 05/03/08 01:15 AM
Do you Mauldin?
John Mauldin sends out a weekly newsletter called "Thoughts from the Frontline", which is a great overview of many technical aspects of the economy geared to the investor mindset. He often has guest writers and different contributors to his newsletters, therefore you will get to read some great … (0 comments)
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economics: Credit Crunch: Light at the End of the Tunnel - 04/29/08 05:06 AM
When thinking about the economic slowdown now gripping the United States, one might think of the naked emperor of yore, who could not realize his condition until told by a child. By the time analysts and the White House recognize the extent of the credit crisis, its effects will probably not … (2 comments)
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economics: The Brighter Side of Housing - 04/24/08 01:30 PM
An article from The Wall Street Journal Online, reports the silver lining of the housing downturn is that it is helping some people buy homes that they couldn't afford a couple of years ago. The Wall Street Journal's quarterly survey of housing-market conditions in 28 major metro areas points to continued downward … (0 comments)
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economics: CEO Pay - Are They Worth It? - 04/23/08 12:34 AM
Not content to leave it at politicians, I now question the pay, bonuses, termination buyouts, and other overpriced perks they get for driving compaies under.
Names like Rigas, Nacchio, Esrey, Ebbers all come readily to mind, not to mention the departed Kenneth Lay. We mustn't forget the ladies either: Martha Stewart, … (4 comments)
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economics: Orlando Economy - Tourism - 04/22/08 12:03 PM
I just received the annual report of Orlando/Orange County Convention & Vistors Bureau, Inc. (CVB), and I have to say their projections for this year look good. Let me start by saying that 2005 was just an off the charts kind of year for us here in a lot of ways. … (1 comments)
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economics: Oil Change Economics - 04/16/08 10:03 AM
… (15 comments)
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economics: The Twin Menaces of Inflation - 04/15/08 11:21 PM
This week, a storm of bad news gave markets cold feet, resulting in Friday's 250-point loss. While this pattern of volatility has been the status quo for stock exchanges worldwide for the better part of the year-to-date, another factor has caused at least as many difficulties for a much larger percentage … (0 comments)
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economics: MetroIntelligence Teams up with Beacon Economics - 04/15/08 09:08 PM
We're pleased at MetroIntelligence Real Estate Advisors to announce a new strategic alliance with Beacon Economics, which is a research and consulting firm specializing in analyses of real estate markets, local economic development, and public and private policy issues.Beacon Economics organizes economic forecast conferences and advises city governments, financial institutes, real … (0 comments)
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economics: The internet causes poverty - 04/11/08 08:11 PM
The following is an article that I found on the CRS Member Connect page. A great resource for all of you CRS agents.
I apologize for posting it without edits, however....this will prove that my last post was an April Fools Joke, although a great idea.
Second, I think that it has some good … (1 comments)
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economics: Current Issues with the Global Economy - 04/11/08 08:03 PM
Though the housing bubble deflated about two years ago, its true effects are only now beginning to emerge. In late 2006, when the economy first began to show signs of weakness in the housing market, most economists predicted that a recession was very unlikely, and that any downturn in real estate … (1 comments)
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economics: Bar Stool Economics...Happy April 15th - 04/10/08 12:34 PM
Since tax day is right around the corner, I thought I'd break down the American tax system for you in this wonderful analogy...
Bar Stool Economics
Suppose that every day, ten men go out for beer and the bill for all ten comes to $100.
If they paid their bill the way … (18 comments)
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economics: Adam Smith Is Rolling Over In His Grave! Why The Bear Sterns Bailout Was A Bad Idea. - 04/03/08 04:48 PM
How many of you watched CNBC's coverage of the Senate Finance Committee's hearing on the Bear Sterns fiasco? I'll fess up, I couldn't stomach all of it. From what I saw, it seemed like a parade of the parties involved reading from the same script. I would have called the script, … (3 comments)
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economics: My Economic Forecast for the 2nd Quarter - Volitility Exuberance about a Standard Mean - 04/02/08 03:05 PM
While the day to day volatility of the markets has been unprecedented, interest rates have fluctuated in less dramatic fashion around 6.000%. My forecast last quarterwas for a 3/8th percent increase from 5.63%. As it turned out, that was a very accurate prediction. The rate on a FNMA 30 Yr rate … (1 comments)
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economics: Industry: The REALTOR and the hairdresser - 04/02/08 02:43 AM
A REALTOR walked into a salon and asked a hairdresser "How's business?" "Terrible", replied the hairdresser, "I'm getting half as many bookings as last year." "That is terrible", said the REALTOR, "Maybe you should think about lowering your prices."
A hairdresser walked into a brokerage and asked a REALTOR "How's business?" "Pretty good", replied … (8 comments)
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economics: Live Downtown - 03/25/08 09:14 PM
I interviewed Tamara Door, president and CEO of the Downtown Denver Partnership, not too long ago. Every time I speak with Tamara I get really excited about what's happening in downtown Denver. According to their mission statement The Downtown Denver Partnership was created "to focus on any aspect that impacts downtown … (1 comments)
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economics: 2008 Economic Stimulus Package - Yay or Nay? - 03/20/08 12:10 AM
I didn't write this blog to provide people with the details concerning the stimulus package. So if that 's what your looking for check out the link below. http://www.irs.gov/newsroom/article/0,,id=177937,00.htmlA more appropriate title should be "My .02 on the stimulus package". I recently read this quote and it really got me thinking... "We believe the economic stimulus package bill that Congress sent … (2 comments)
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economics: New Hampshire Economic Review - 03/19/08 08:44 AM
New Hampshire Economic Review
I recently received a publication produced by
Entitled New Hampshire Economic Review
For those of you not familiar with it, this publication is a compilation of data and statistics on key economic indicators, population trends, quality-of-life surveys, New Hampshire businesses, and more.
The document can be obtained in either a … (1 comments)
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economics: Waah! The 'market is so scary! - 03/17/08 10:19 PM
Everyone is very very frightened now with the changes in the mortgage industry and the news media with their constant egging on of the chicken Little's (help the sky is falling th world is ending...and all that blah blah blah). The truth of the matter folks is that the world is … (5 comments)
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economics: Athens Georgia Economy - More Positive News! - 03/13/08 02:12 PM
… (2 comments)
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economics: Are YOU Worried About Recession? - 03/13/08 09:37 AM
I got this link, courtesy of my fellow Cyberstar, Michael Fournier.
It's quite interesting to take a look at the nation, broken down into smaller economic pockets-and see whether or not this media-driven recession is real to you. (and I know I'm a member of the VRWC, but seriously people, this recession … (19 comments)
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economics: Charleston/Summerville Area expanding - 03/12/08 02:23 PM
According to USA Today, our area is "expanding" in comparison to other states which are either "at risk" or actually in recession. The map below is taken from Moody'seconomy.com and featured at USAtoday.
This map is both interesting to look at and view which cities in each state are at risk. I encourage … (2 comments)
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economics: Short Sale Approval-Make it Work!!! - 03/09/08 08:33 PM
It is obvious, most agents are not that well versed in the approval process.
An agent must understand the philosophy of the deal. Why should a bank employee who has 250 plus cases to work each day, take your case and MAKE IT WORK? You must call each Monday and make … (2 comments)
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economics: Athens Georgia - No Recession Here! - 03/08/08 06:26 PM
It's been an interesting few weeks in the mortgage market with rates fluctuating and the scary, but thankfully temporary, disappearance of 100% financing in Georgia due to being rated a "declining market" for the entire state by several risk management (PMI) companies. However, spring market is just around the corner and … (0 comments)
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economics: Mortgage Rates a Roller Coaster - 03/07/08 10:35 PM
If you're shopping for a mortgage, you've probably noticed that rates are all over the place.
Normally, experts can get a decent gauge on where rates are headed. Right now, however, there's lots of conflicting data making the rate market volatile. For example, the jobless rate came out this month and reflects … (5 comments)
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economics: Does Economic Stimulus Package Help Colorado Springs? - 03/06/08 06:01 PM
The President recently signed the 2008 Economic Stimulus Package into law. As part of the deal, Fannie Mae and Freddy Mac loan limits were raised from $417,000 to a cap of $729,750. So what does this mean in plain English and more importantly, does it help Colorado Springs?
Fannie Mae … (0 comments)
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economics: What Causes a Recession? - 03/03/08 08:20 AM
Turn on the TV or go to your favorite news site and you hear about the looming recession…the dreaded “R” word of economics. We get bombarded with all kinds of statistics and theories, but have you ever wondered what causes a recession in the first place? Read on to get up … (2 comments)
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economics: Here a Stimulus, There a Stimulus, Everywhere a Stimulus, Stimulus - 02/27/08 05:07 PM
To be frank (or Tom as in this case), if I hear the word "Stimulus" one more time I might very well run from my office completely naked in hopes of being taken to a home for the criminally insane and placed in a padded room with no contact to the outside … (14 comments)
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economics: Finding your 'secret weapon' to market yourself in tough times - 02/26/08 01:53 AM
I've been writing A LOT over the past few months, and it's finally starting to pay off with some increased awareness for what I do -- which is economic & feasibility consulting for homebuilders, developers, lenders, inventors and cities/counties. For me, writing is easy and I know I'm lucky to enjoy … (1 comments)
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economics: California Economic Forecast - 02/26/08 12:25 AM
… (0 comments)
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economics: Ask Your Economist - 02/25/08 05:54 PM
Todays Message from the Media: 45% of all (they didn't define all) economists report that we are falling into the abyss (The 'R' word). Doesn't that mean 55% are saying that we are not going into a "R word".
I like that term "R word". Its one of those crepe hanging icons … (3 comments)
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economics: Real Estate Investors :: What's next? - 02/06/08 09:57 PM
As investors we’re not out there spinning the roulette wheel; we’re looking at the underlying fundamentals and taking measured risks. That said, investors do need to take a view of the future in order to make decisions in real time – and BusinessWeek’s recent cover story gives the housing market a … (7 comments)
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economics: No such thing as a free lunch... - 02/06/08 08:08 PM
Think about it... how many free luches do you get as a Realtor? How many do you give? How many dinners, cocktail hours, golf tournaments, etc? Now think about the old economic adage, "there is no such thing as a free lunch". Do you remember what it means?
Opportunity cost. What could … (3 comments)
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economics: The Great American Puppet Show, ACT II - 02/02/08 12:04 PM
Do They or Don't They?
We open this Act with the Fed cutting rates by 50 basis points and wondering what it is they know that we do not. Do they have access to economic data before it is released? Is Ben acting on popular opinion in the markets? Is the … (3 comments)
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economics: Thank you Florida Voters! - 01/30/08 02:03 PM
I want to thank all of the citizens of Florida who went to the polls on Tuesday and voted to approve the recently proposed Amendment 1.
Thanks to all of you who voted, we were all sucessful in the first step towards some personal property tax releif. This new amendment will … (3 comments)
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economics: The Great American Puppet Show - 01/25/08 02:53 PM
Rates, The Fed and Apple Pie, too.
As we paused to reflect on Martin Luther King, Jr. day the rest of the world was having a financial melt down. Why? Well, it seems they were worried about us. Record foreclosures, billion dollar write downs and the threat or realization of recession. … (2 comments)
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economics: US Recession Inevitable? - 01/25/08 01:08 AM
As the sub-prime mortgage scandal continues to play out badly for many US companies, more and more questions have been raised as to whether the impact of a slowdown in one area will translate into a nationwide, or even global, recession. Growth prospects within the US are limited for this year … (1 comments)
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economics: MY ENCOUNTER WITH DR. THOMAS SOWELL - 01/24/08 10:01 PM
PREFACEIn 1975 I read in "The New Yorker" about and bought a new book with an intriguing title: Ethnic America by Thomas Sowell. Dr. Sowell is a black man who, at forty-five, decided he was going to get to the bottom of why black Americans had, in general, not progressed as … (9 comments)
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economics: Home ownership bad for America? - 01/23/08 01:17 PM
In response to Clive Crook's article in the December 2007 edition of "The Atlantic".
Clive Crook has sadly missed the mark of his own story "Housebound-Why home ownership is bad for America", in that he has taken way too many words to explain his disapproval of merely one aspect of home ownership, … (2 comments)
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economics: Why The Fort Worth Market Has Not Crashed - 01/22/08 09:04 PM
This Sunday at church I was speaking with a professor from Texas Christian University about our local real estate market. He had some interesting observations about our local market and why we have not had a crash like so many areas and have in some areas thrived.
The first issue is job … (2 comments)
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economics: Obsession With Now - 01/22/08 04:46 PM
I remember years ago being taught to make a plan and day by day plug along, making adjustments as I go along. The Japanese model of long-term thinking was praised as a mature, smart, forward looking model based on steady principles and hard work and long-term thinking. This made sense to … (0 comments)
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economics: Lenders Rethink Home-Equity Loans - 01/18/08 12:25 PM
Here is an interesting twist that has 2 sides to this long-winded story of over-extended credit. Many home-equity lenders are NOT foreclosing on loans that have become default. Instead they are writing off the loan on their books and waiting.
Waiting? Yes, according to the article the lenders are waiting for the … (0 comments)
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economics: Rents are coming down - 01/17/08 06:41 PM
As written in the Wall Street Journal on the 15th of January, 2008 rents in many areas are falling. Reason is fairly simple ... sellers that cannot sell need to get something for their home and rentals are really the only option. This is cause for concern in many areas that … (0 comments)
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economics: Grassroots Campaign to Shore Up Consumer Confidence Crisis and Prevent Recession - Feasible? - 01/17/08 06:28 PM
Is it possible to unite small business people and solo professionals in each city in the US in order to boost consumer confidence? The prospects of a severe recession are ever present in the current economic forecasts. Most economists will agree that the conditions and of dire concern. Indeed, this is … (12 comments)
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economics: Today's Market Commentary - Analysis - 01/16/08 10:43 AM
Bond prices rose on Tuesday as stocks plunged. By the close, the Dow was down 277 (2.17%) and the S&P Financial Index, lead by its biggest weighting Citigroup, fell 3.74%. It was clearly a bad day for stocks and especially financials as the subprime and related hits kept coming and the … (3 comments)
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economics: What you Make It (part 2) - 01/13/08 09:55 PM
What you Make It (part 2)
I ultimately intended What You Make It [Part 1] (posted Friday morning) as a single statement, to be taken, (more or less) as the market is "More challenging" presently, than it was in past, recent years. After reading an article earlier today, by Gary Keller, it … (1 comments)
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economics: My Economic Forecast for the 1st Quarter - To Yield or not to Yield - 01/12/08 08:33 PM
Right now rates are acting against their historical tendencies. On average rates tend to have an inverse relationship with stocks, rates tend to increase with heightened inflation and rates tend to fall in the face of catastrophic geopolitical events. While counter intuitive performance would tend to negate forecasting, there are known … (2 comments)
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economics: How Long Will It Take to Sell My House? - 01/07/08 06:31 PM
Many sellers want to know how long their home will take to sell.
As agents, we can pull from several sources to determine average time on the market from time of listing to accepted offer. These statistics vary depending on interest rates, price range, local economics, and other factors.
Once an offer is … (0 comments)
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economics: Guess Who Is Using More Oil? - 01/07/08 01:50 PM
Last week the Wall Street Journal did a series of articles on OIL ... one that I found very interesting was the consumption of oil on a per capita basis. Here are the stats:
First Place: Saudi Arabia with 32.88 barrels per person
Second Place US with 25.64 barrels per person
Third Place Canada … (2 comments)
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economics: 4th Quarter Residential Housing Report in the Golden Isles of Georgia (St. Simons Island/ Glynn County) - 01/04/08 03:19 PM
Greetings and Happy New Years from what today one could call the deep freeze. You see it is currently 24 degrees and windy but it is winter and considering this will last for only another day...well one need not complain too much since this is only the 4th or 5th cold … (0 comments)
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economics: The End IS Near? - 01/04/08 11:31 AM
OK ... the end is not near, but from an economic approach the rise in CPI (Consumer Price Index) last month and the rise in unemployment released today which hit the 5.0% level (still very low compared to other industrialized countries) these are signs of a slowing economy.
Why? A rise in prices that … (2 comments)
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economics: Why I became a realtor - 01/02/08 02:42 AM
In my former life I was an accountant. An auditor to be precise. I worked as an auditor of cities, townships, school districts and counties, and then moved on to audit corporations. Fun and exciting work (I know I know doesn't sound fun to most) for me that I really enjoyed. … (4 comments)
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economics: Why Do They Do It? - 12/29/07 07:38 PM
Well if Location, Location, Location are the words to live by in real estate than Fees, Fees, Fees are the driving force behind decisions made on many of the SIV (Special Investment Vehicles) messes we read about everyday. A typical fee is 1-1.5% of the total underwriting (billions have been underwritten).
So one … (2 comments)
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economics: NORMA - 12/29/07 03:53 PM
An odd title to an odder investment vehicle. Norma CDO I Ltd. is the full name, but it goes by NORMA and is a new breed of investments that was created at the end of the housing boom. This tool is an example of how Wall Street took a good idea too … (0 comments)
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economics: Prediction for 2008 - 12/28/07 07:05 PM
So here are a few predictions for 2008 ... lets see how well I do.
1) Housing sales will increase in 2008 to 5.1 million units however the median sales price will be lower since many of the home sales will be distressed properties
2) Investors will purchase roughly 30% of houses sold … (6 comments)
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economics: Know Thy Trends - 12/25/07 07:02 PM
Each year our company produces a Trends Report of the things that are impacting the real estate profession. Not to spoil all the fun of reading the 2008 Trends Report, but ActiveRain is mentioned in the section on Social Networking and Sub-prime Meltdown is also discussed.
It is interesting that the sub-prime … (3 comments)
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economics: Fraud a major cause - 12/25/07 06:54 PM
According to a Wall Street Journal article fraud is one of the major causes of some 50% of default sub-prime loans. Fraud maybe something small like overstating income or some large and grand scheme. The article sites examples of schemes in Atlanta that required at least 3 willing participants A Lender, … (5 comments)
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economics: Watchout House Auto Are Defaulting Too - 12/20/07 09:37 PM
According to a Wall Street Journal Article, automobile delinquencies are on the rise. The auto delinquency rate has been tracking up to the highest level in many years. Approximately $575 Billion in auto loans are made annually. According to the article 12% of sub-prime borrowers were delinquent on their auto loans … (0 comments)
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economics: Gone With The Winds - 12/20/07 09:15 PM
Default notices in four of Southern California's major counties. These numbers are from January through September of 2006 compared with the same time frame for 2007. Shocking was the comparison of Riverside and San Diego counties. Popular belief would be that the Inland Empire would be hit much harder than areas … (0 comments)
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economics: Rebuttle to News Article regarding foreclosure and the Housing Market - 12/19/07 11:39 AM
Unfortunate as it may seem, the news media is distorting facts again, as with the case of a writer of an article (Alex Viega) from the Associated Press, which posted today from the Associated Press, as reported on AOL finance section. Partial Story: The U.S. had one foreclosure filing for every 617 households in … (0 comments)
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economics: A $35,000 ELECTRIC SMART CAR. WHAT'S SO SMART ABOUT THAT?? - 12/18/07 07:53 PM
Word is that the new electric model smart car is going to double the original price. Who would pay $35,000 for one of these little toys?
… (4 comments)
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economics: Colleges Change View On Financial Aid - 12/11/07 04:00 PM
Recently several Ivy league colleges have changed their view on financial aid and who qualifies for aid and assistance. The reason is the size of the endowments that some of these schools have. Several of these endowments are BILLIONS of dollars ... Harvard is over $20 BILLION ... that means at a … (0 comments)
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economics: Anne Arundel County Housing Affordability Index Rises 2.1% - 12/10/07 02:36 PM
Maryland Housing Economics
Anne Arundel County Housing Affordability Index Rises 2.1%
December 10, 2007 - The Anne Arundel County Housing Affordability Index rose 2.1% in November 2007 to 61.1 - up slightly from 59.9 in October 2007. In November 2007 the Average Sold Price of a home in Anne Arundel County was $415,771 … (0 comments)
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economics: Bonds Stabilize Ending Deterioration - 12/10/07 10:08 AM
Today's Market CommentaryMarket focus is now on the Fed with a 70% plus chance of a 25bp cut at this weeks FOMC meeting based on CBOT futures trading. If the decision is not for a 25bp cut, a greater probability is assigned to a 50bp cut than to no change. A … (0 comments)
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economics: Who Needs Hard Money? - 12/07/07 07:00 PM
You would be surprised at who is going to hard money lenders for loans. Hard money loans were once considered the lender of last resort, but with the sub-prime market gone where else does a strapped borrower go?
Hard money loans do not come from banks ... they come from private venture … (3 comments)
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economics: Builders Sell Land - 12/07/07 06:45 PM
According to a December 3, 2007 Article many builders are selling land once worth billions for 40-60% of book value. Recently Lennar Corporations sold 11,000 home sites to a venture mostly owned by Morgan Stanley. The sale of these lots valued at $1.3 billion as of September 30, 2007, $525 million … (0 comments)
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economics: My Economic Forecast for December - My return to forecasting - 12/06/07 05:06 PM
Four rocky and unpredictable months have passed since my last forecast. In that time the credit markets collapsed, the mortgage industry became taboo, gas prices put the squeeze on the consumer, the US economy threatened recession and world renowned beauty snubs the dollar.
We are living the very turbulence that future … (5 comments)
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economics: LIBOR Falling? - 12/06/07 10:48 AM
If you follow the mortgage industry this is actually pretty big news:-----The Bank of England cut its key interest rate by a quarter percentage point to 5.5%, its first rate reduction in two years, as credit conditions tighten.----Many loan our tided to LIBOR (London Inter Bank Offer Rate) it is similar … (1 comments)
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economics: 27 cents on the Dollar - 12/04/07 04:49 PM
27 cents on the dollar is what ETRADE sold their sub-prime mortgage backed security portfolio for. That means the value of these securities had dropped 83 percent ... the article written in the Wall Street Journal did not say what the mix of the sub-prime loans were or if these loans … (5 comments)
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economics: Real Estate And The Aha! Principle - 11/30/07 11:03 AM
In my writings here on AR and elsewhere I tend to rely on economic analysis quite a bit. And while I understand why some people's eyes will glass over when I start talking about supply curves and equilibrium points and such, I do feel that looking at our businesses, our industry … (1 comments)
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economics: Keynes Theory of Economics - 11/29/07 12:17 PM
When I was at Heidelberg college I took economics. My professor at the time seemed like he was one hundred years old, but for an eighteen year old, anyone over thirty seemed ancient, so I am guessing he was in his sixties. I am also guessing that he was in the … (1 comments)
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economics: Florida Mortgage & Real Estate | Opportunity Costs in a Bad Market - Why to buy now - 11/20/07 12:31 PM
This post was born from an old comment... in February, right when I started here on ActiveRain... it was on one of Caleb Mardini's posts. Shortly afterwards, Colleen Kulikowski wrote a post that quoted my comment. Yesterday, a freelance writer asked to use the same quote in a marketing piece she … (1 comments)
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economics: Banks need to tow the line - 11/12/07 01:08 PM
The past two months have been quite unusual for financial markets. Short-term liquidity has been disrupted for almost two months, as investors have reevaluated the securitization process. I am hopeful that with appropriate underwriting, the securitization process and the ABCP will continue to be a source of financing for a wide … (0 comments)
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economics: When The Boomers Leave - 11/09/07 11:37 AM
This is not a dig on Baby Boomer's but a thought provoking blog about the economic impact and wake left by the Baby Boomer's. Read and investigate the economic information that has happened over the last several decades and you will see a pattern. As the Boomer's hit particular cycles in … (3 comments)
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economics: Mortgage regulation, and the cause of the crisis - 11/07/07 05:50 PM
I posted a comment on Jeff Corbett's Active Rain blog... and because I think the topic pertains to most of us, I am reposting it and then some here.
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My comment went something like this:
Good post Jeff... Although I disagree that some sort of regulation will not assist in straightening this mess … (4 comments)
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